Juwai IQI says it achieved 293 per cent more new project sales in the year 2021 to date, compared with the same five months in 2020, despite the ongoing Covid-19 pandemic and weak market sentiment.
The real estate technology firm said it concluded US$88 million (US$1=RM4.14) of new-project residential sales across Malaysia, in the week of May 10, 2021. The amount was almost 75 per cent more than US$50 million in a typical week this year.
Juwai IQI group co-founder and chief executive officer Kashif Ansari said the two projects that saw strong sales this year despite the pandemic were D'Cosmos and The Fiddlewoodz.
The properties in both projects ranged between RM676,000 and RM854,800 per unit.
"Buyers today are much more sensitive to lifestyle and amenities than in the past. The best-selling units all have at least two bedrooms and two bathrooms. In addition, some have study rooms," he said in a statement today.
Kashif said travel restrictions and the Movement Control Order (MCO) did not affect the firm's sales in Malaysia.
Kashif said during the MCO period sales were up as its technology platform made it possible for the firm to continue to serve buyers.
"Observers expect that economic, employment, and income growth should increase more rapidly in the post-pandemic rebound than the pre-Covid rate. Those conditions tend to coincide with rising property demand and prices," he said.
Kashif said demand has been fuelled by low-interest rates, the reintroduction of the Home Ownership Campaign, and various other property-related initiatives introduced in Budget 2021, including the National Economic Recovery Plan (PENJANA).