As the new decade progresses, Malaysia’s property developers expect the country’s demographics to evolve with an ageing population growing while a more “millennial- centric” market will emerge. At the same time, more of the younger millennial generation will join the workforce.
Demands are shifting, and a house is today more than just a roof over the head for many — it is part of their lifestyles. Developers know they have to step out of their comfort zones, be flexible and adapt to the discerning homebuyers’ ever- changing wants and needs. Furthermore, there will be greater emphasison sustainability and in reducing carbon footprint as climate change becomes the defi ning issue at this juncture. Th e industry also hopes that the government will step up and play its role to facilitate a healthy property market. Policies are to be reviewed and numerous laws are due for amendments to keep them in line with current and future market needs and conditions. By engaging with relevant stakeholders, laws and regulations can be better crafted to suit the people.
In terms of the economy, fostering greater economic activities translates to greater income levels. Hindsight is always 20/20 but as long as we learn (and adapt) from the past, the industry should be in a position to better handle the challenges and opportunities that lie before us in the coming decade. Read on for each developer’s predictions and business strategies going forward.
Media Title: The Edge Financial Daily
Date: 10 Jan 2020