As the local real estate market improves slightly, the number of people searching for homes online is increasing.
iProperty.com.my has released a list of the top ten most searched areas in the country among property hunters.
From January to November 2021, the 10 areas in the list had the highest number of searches by visitors who browsed a "For Sale" property listing, according to the property portal.
"Now that people have developed a better feel for living with the Covid-19 pandemic, more property seekers are keen to take advantage of the low-interest rates for home loans imposed by Bank Negara Malaysia," said Shylendra Nathan, country manager, Malaysia (PropertyGuru.com.my and iProperty.com.my).
He said that consumer sentiment has improved overall in the second half of this year.
"We hope it will continue to do so in the coming year as the country's economy gradually recovers," he said.
The top 10 areas are ranked in ascending order and the weightage of searches are displayed in terms of percentages (%).
10. Cyberjaya (6.67 per cent)
Cyberjaya, also known as the Multimedia Super Corridor, allows for the unrestricted employment of both local and foreign knowledge workers. Prima, Century Square, Enterprise Building, Quil, SME Technopreneur Centre, and Emerio are just a few of the many international companies with subsidiaries in Cyberjaya.
"There has been enough interest in Cyberjaya to push it into this list in 2021," Nathan explained.
He said this indicates that people are thinking about moving to Cyberjaya in anticipation of job opportunities, and investors are looking to capitalise on a potential boom in the expatriate rental market.
9. Ampang (6.77 per cent)
Despite falling three spots down the list from the previous year, Ampang remains popular among property buyers, according to Nathan.
He claims that, because of its proximity to the Kuala Lumpur City Centre, Ampang is an excellent choice for those seeking a vibrant nightlife in the city before retiring to a peaceful neighbourhood.
Ampang has a number of high-end residential developments with prices per square foot (psf) ranging from RM720 to RM750 – approximately RM300 less than Kuala Lumpur City Centre.
Ampang also has a number of established gated and guarded developments, including Laman Oakleaf, Taman Andaman Ukay, and Taman Saujana.
8. Kota Damansara (7.05 per cent)
According to Nathan, Kota Damansara fared better in 2021 than the previous year, climbing from tenth to eighth place.
He believes that the recently completed first-of-its-kind Malaysia e-commerce hub, EmHub, will generate demand for housing from the area's emerging workforce.
Home buyers and investors, according to Nathan, are keeping an eye out for the many planned residential developments in the area, such as The Estana and a mixed development by the Selangor State Development Corp.
7. Kuala Lumpur city centre (7.62 per cent)
Kuala Lumpur City Centre, which last appeared on the list in 2018, received 7.62 percent of the searches on this top ten list.
This area is unique, according to Nathan, because it is home to the iconic Petronas Twin Towers, which are surrounded by several luxury serviced apartments, including The Grid, 6 Stonor, The Binjai, One Stonor, The Oval, Desa Kudalari, Binjai 8, and Le Nouvel KLCC.
He claims that rents for these units can reach RM15,000 per month.
More high-end projects have recently entered the market. Ascott Star KLCC and Eaton Residences are two examples.
The price per square foot of luxury residences in KL City has also fallen slightly from RM1,005 to RM1,056 in 2020 to between RM1,000 and RM1,040 in 2021.
"This may be the reason for its inclusion on this list. With the reopening of various business sectors, there is renewed interest in high-end homes in strategic locations throughout the country," he said.
6. Subang Jaya (9.07 per cent)
Subang Jaya appeared on this list in 2018, but not in 2020. This suburb has made a comeback in the hearts of homeowners and investors, accounting for 9.07 percent of total searches.
Subang Jaya has a diverse range of property types, including gated and guarded communities, high-rises, and SoHo units.
5. Puchong (9.21 per cent)
"Puchong's performance on this top 10 list is rather erratic. In 2018, it occupied the second place and in 2019, it came in last. Meanwhile, it did not make the cut last year," Nathan said.
There is an assortment of property developments in Puchong that cater to all levels of income, according to him.
"To quote 2020 data from brickz.my (a site that supplies transacted data sourced from the Valuation and Property Services Department of Malaysia or JPPH), a particular leasehold flat in Puchong was sold for RM40,000 while on the other end of the spectrum, a leasehold bungalow was let go for RM3.4 million.
"This is just scratching the surface of what the property market looks like in this self-sufficient township and property enthusiasts would do well to dig deeper for a better understanding," he said.
4. Johor Bahru (9.39 per cent)
Johor Bahru (JB), once the darling of the Malaysian property market and occupying the top spot in 2020, fell to fourth in 2021.
Nathan believes that Johor Bahru will always be on the radar of property investors because it offers limitless opportunities to the millions of people who cross the Johor Causeway daily for work, leisure, or travel in Singapore.
Following the pandemic and the closure of the border with Singapore in 2020, the JB property market experienced a slight decline.
According to National Property Information Centre (NAPIC) data for Q3 2021, Johor still has a significant property overhang with 16,343 unsold serviced apartments.
However, demand for some residential property sectors remains stable. According to Nathan, this is based on iProperty.com.my's H1 2021 Portal Demand Analytics, which shows strong interest in the spacious landed property (>2,000 sq ft) in Iskandar Puteri priced up to RM1 million.
3. Cheras (14.56 per cent)
Cheras is a mature neighbourhood known for its many old restaurants and new shopping malls such as Sunway Velocity Mall, IKEA Cheras and MyTOWN Shopping Centre.
"Commuting has been made so much easier with the MRT line...there are a total of 11 MRT stops within Cheras alone! In the past two years, there have been 30 new high-rise residential buildings that have sprung up in Cheras. While the area was previously known for its many housing estates and landed property inhabited by mostly couples and families, it is now set to cater to young professionals working in the city as well," Nathan said.
2. Shah Alam (14.64 per cent)
Nathan stated that the runner-up Shah Alam is a borough that has seen significant urbanisation while retaining its natural beauty.
Developments in the area follow the Town and Country Planning Act 1976 (Act 172), where section 21B states that development proposals must include measures for the protection, preservation, and improvement of the physical environment and natural topography, in contrast to a few other locations in the Klang Valley that have been hit or miss on this.
The residential property in Shah Alam ranges from high-rise condominiums to landed property, and the homes are complemented by public parks, local attractions, private schools, and public universities.
1. Petaling Jaya (15.02 per cent)
Petaling Jaya, affectionately known as PJ by locals, has taken the top spot on this year's list.
"This is not surprising given that PJ has steadily risen through the ranks over the years. It came in sixth place in 2019 and second place in 2020," Nathan said.
He said that PJ is particularly popular among families because of its suburban lifestyle, which includes local eateries, hipster cafes, family parks, neighbourhood malls, and schools.
The city also has the distinct advantage of being located right next to Kuala Lumpur, making it popular among young couples who work in the city as well, according to Nathan.
Furthermore, the LRT 3 line, which is scheduled to open in 2024, will provide PJ with five new LRT stations: One Utama (MRT 1 Sungai-Buloh Kajang Line interchange), Kayu Ara, BU11, Dataran Prima, and Kelana Indah.