Higher demand for residential properties


KUCHING: The movement control order (MCO) seems to have prompted a higher demand for residential properties, said IQI real estate negotiator Brandon Chew Wui Pin.

He said IQI had sold 531 new properties throughout the country during the MCO period – the majority being residential – and the number was still growing.

“Especially during and after the MCO period, everyone wants his own place for isolation, so there is even greater demand for residential properties,” he told New Sarawak Tribune yesterday.

Due to the Covid-19 pandemic and MCO, he said there was an increase in awareness on personal hygiene and practices.

“As such, there is a rising need and demand for safer personal living space. People feel safer in their own property,” he said.

“During and after this MCO period, people will be more used to working from home and being more cautious with social distancing. They will rely more on technology to do business and conduct presentations with Zoom and social media,” he opined.

According to Chew, the new lifestyle trend for the next three to six months would be working from home, comfort, pleasant decor, and high-speed internet for digital marketing.

He said that IQI was already focusing on using digital marketing, implementing innovative approaches towards showing properties to potential buyers.

“We use video marketing and Zoom presentations, and managed to close a lot of bookings and sales,” he said.

With the current movement restrictions, interested buyers are unable to visit showroom units for viewing.

Instead, he said IQI used 3D model viewing, 360 virtual reality (VR) tours, and YouTube for property viewings.

“People buy properties based on concept and location,” said Chew.

Meanwhile, he felt that the government had made the right move by having Bank Negara Malaysia (BNM) roll out the six-month moratorium on bank loans.

“This will calm the property/loan market for six months and provide temporary relief,” he said.