Posted on by Najihah Nasrin
Subscribe to our Telegram channel for the latest updates in the marketing and advertising scene
Mudah Property on a journey to Alleviate Number of Unsold High-Rise Units in Malaysia
12 Oct
COVID-19 spelled the worst of times for our nation. Most industries, as well as the livelihoods of the people, experienced a dreadful period of uncertainty and fear.
The property market was one of the most severely affected sectors. Only the affluent segment, with the ability to have a long-term view could seek to invest in this environment. For the vast majority of the citizens, anxiety over their future made it daunting to buy their home.
The resulting problem? A worrying increase in ‘overhang properties’ across the country.
With that being said, Mudah Property has become the great equalizer during these trying times, establishing itself as the chosen platform by Malaysians looking for affordable rent-or-buy during these months of lockdown and financial tightness.
Not surprisingly, the number of ad-listings on Mudah Property grew significantly from March 2019 to August 2022, experiencing a 77% growth, which was pivotal in bridging the gap between unsold properties and “value seeking” Malaysians looking for a place to move in.
The trust that Malaysians placed on Mudah Property, as their preferred platform, has helped alleviate the worrying increase in “overhang properties” around Malaysia, making the lives of Malaysians a little bit easier in this difficult period.
Worrying Increase In Overhang Properties Around Malaysia, Mudah Property has a solution to alleviate this issue.
The latest information interface from Mudah looks to increase buyer knowledge and buying confidence within the high-rise segment.
Mudah.my, Malaysia’s largest online marketplace, has introduced a new information interface that displays comprehensive details for property listings. It is now easier and more convenient for buyers or renters to find that dream home of theirs!
Worrying numbers from the National Property Information Centre (NAPIC) have reflected a drastic increase in unsold properties over the first quarter of 2022, largely among high-rise units – often resulting from an oversupply among property developers.
Reflected in the new and improved interface, Mudah Property aims to alleviate the daunting issue of unsold properties in Malaysia by providing prospective buyers with adequate information on their platform.
When browsing a highrise property listing, buyers will now have access to key information such as the location, property type, pricing, accessibility, developer profile and other core information.
The latest information interface helps match the sellers and buyers within the high-rise segment, which makes up for the largest proportion of overhang properties.
Hence, listing details will give prospective buyers a glimpse into more comprehensive information, encouraging better decision-making and buying confidence among Malaysians.
Recent data from the National Property Information Centre (NAPIC) showed a high number of unsold properties in the first quarter of 2022 with an oversupply of 35,592 units.
Of the total, around 20,680 or approximately 58.1% of them were high rise units. The infographic also reflects a 67% year-on-year (YoY) increase in property listings on the platform, including an improved interest in rented properties seen in a 22% year-on-year (YoY) increase.
Competitive Advantage of Mudah.my
Mudah.my remains as Malaysia’s largest online marketplace to facilitate buyer and seller negotiations. With that said, safety measures to ensure the platform remains a safe and trusted space remains an utmost priority.
Whether it’s account verification or listings, Mudah Property implements stringent processes within the property listing space to ensure a better experience on-site.
To create more value for platform users, Mudah Property introduces sales packages and special prizes from time to time to enhance consumer value on the platform.
Peter Wong, Chief Business Officer, Mudah.my
Peter believes that there is a right property match for every consumer, and Mudah Property aims to help them find that match.
“As Malaysia’s favourite property site, Mudah Property continuously strives to provide a better buying, renting and selling experience to our customers. With over 200,000 properties for sale or rent, Mudah Property helps buyers through their purchasing journey to help them make better informed property decisions for finding their dream house and post purchase or renting helps them fix and furnish it, all within the platform.”
Anyone, be it private sellers or property agents can sell on the one-stop marketplace. Ease of use is facilitated with tips, market insights and guides with new users helped along by just a few clicks.
