Malaysia’s number one property portal iProperty has released its H1 2020 Housing Demand Report which details trends in traffic to the company’s Malaysian portal site. Among the report’s principal findings is that web traffic bounced back strongly after national lockdown measures were loosened in May. Mirroring trends seen around the world, Malaysian home hunters abandoned the portal in droves in the first week of March as the portal saw a 46% weekly drop in traffic from the week ending 16/03 to the week ending 23/03. The rebound then started gradually and saw traffic levels 41% above the 52-week pre lockdown average levels by the start of July. Overall national demand for property over the first half of 2020 was down only -2.5% with the report’s assessment “not as dire as what we initially thought it would be” perhaps the best anyone can expect of 2020 as a year.
As for search trends on iProperty, it seems that Malaysian needs are evolving in line with what has been reported elsewhere with some areas not seeing much in the way of fluctuations in terms of demand level overall but an increase in demand for “homes with bigger layouts as more urban folks now have the option to work from home.” It also appears that people in Malaysia might be looking to cut back on expenses as the report cites a shift in demand towards more affordable housing options with demand for service residences dropping -7.2% and rising 2.2% for terraced homes.