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Malaysia Property Post Pandemic

Updated: Nov 21, 2021

The Covid-19 pandemic has made many new norms in our lives. Malaysia has been locked down with 3 Movement Control Order. Many resorted to work from home ( WFH ) and this made our Home to a more multi use space. Entrails is the significant value of Home property in todays purchaser consideration.

“Some of these changes had already been occurring at a slower pace pre-pandemic, but are now rapidly accelerating and becoming the norm. During this period, governments across the globe have been advocating the ‘stay at home’ and ‘work from home’ (WFH) practices. Home has always been a safe haven to many, offering security, safety and stability. It is the base where everything begins, although its functions have now extended beyond living,” says Knight Frank Malaysia deputy man-aging director Keith Ooi.

"Savills World Research has indicated that working from home has a direct impact on the residential market, as households now reassess their needs. The Savills sentiment survey indicated that 90% expect demand for home offices to increase, while 86% expect an increase in demand for high-speed internet."

This changes have an impact on new developments direction. Property developers believe there is a need to develop a proper place to live and work, than investment oriented development.

“For new buildings, designing for flexible convertible spaces is more viable than simply making residential units larger to accommodate working from home, online classrooms, home quarantine and so on, as housing affordability remains an issue,” says Lilian Tay, Veritas Design Group vice-president.

Source : The Edge Markets

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