With 170,000 properties for rent, 350,000 for sale and rise in virtual property tours, Malaysia provides lucrative opportunity for property classifieds companies, says a report by Ken Research
1.“Go Digital:” Before the pandemic began, buying or renting a home was virtually unimaginable; it acted as a catalyst for people to explore ways to expand digital business platforms
Confidence in Developer and Virtual Tours are two major trends that have emerged after the global pandemic disruption. With around 88% of Internet & 32.2 Mn Smartphone users in Malaysia as of 2021, digital presence is something that has been picking up pace. More than 80% of the current Malaysia Property Classified market is influenced by the internet. Developers’ credibility along with virtual tours in the form of 3D walkthroughs, drone site visits, photos, and videos are the most influential factors for exploring digital platforms to buy/rent home and that they sometimes close the deal completely online. Consumers are not just bound to explore the buying/ renting options through digital platforms but are interested in other residential services as well.
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2.An increased consumer appetite for online real estate information was instrumental in the paradigm shift in the real estate industry since early 2000.
Emergence of online aggregators and marketplace compiling tremendous list of properties and the solutions to problems stemmed from difficulty in access to online information and complicated process of rent/sale/buy real estate assets. Moreover, platforms were more D2C so residential real state were targeted. Some changes took place in the current era of online Property Classified in which Data processing & analytics and shared economy are prevalent. Technologies can eliminate cumbersome processes for business and achieve cost-saving. SaaS is becoming mainstream due to higher CLTV and stronger customer relationships.
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3.“Increased Website listings:” Malaysia Property Classified Market is expected to grow at a massive rate of 33.2% CAGR during 2021-2026F providing a lucrative opportunity for Property Classified investors
Internet has been increasingly becoming an attractive asset for landlords, potential real estate investors and tenants looking for an efficient and secure opportunity in the Commercial Real Estate segment (CRE). This presents a lucrative opportunity for Property Classified investors to witness high returns on their investment. The market is expected to grow at a CAGR of over 33% in the upcoming years with companies resorting to digital means of listing in order to lure customers. The hassle free process & no physical visits are expected to provide a sense of ease to the customers. Moreover, customization in subscription plans may lead to better value realization for customers and improved adoption.
