iProperty.com.my has revealed the top 10 most searched areas by property seekers in Malaysia for the year 2023.
The list, based on property searches conducted on iProperty.com.my between January and November 2023, reflects the changing preferences of homebuyers compared to the previous year.
Urban Areas Regain Popularity:
The 2023 data highlights a notable shift in preference towards urban areas, a departure from the trend seen in 2022 when homebuyers explored properties outside the Klang Valley due to increased work flexibility.
The return-to-office policies implemented by more employers are believed to be influencing this change, as urban living offers advantages such as connectivity, easy access to workplaces, and reduced commute times.
Below are the most searched areas in 2023 ranked in descending order
10. Cyberjaya: Cyberjaya, known as the Silicon Valley of Malaysia, has returned to the top-searched areas list in 2023. Recognized for its status as the base for multinational tech companies with MSC status, Cyberjaya boasts rapid technological advancement. Surrounded by public parks and home to various tertiary learning institutions, including Multimedia University and Limkokwing University, it attracts students and expatriates. The top three transacted properties are Evergreen Garden Residence, Serin Residency, and The Mulia Residences Cyberjaya. Noteworthy property searches include Aspire Residence and Sanderling Lakefront, with significant YoY increases.
9. Bangsar: Making its debut on the list, Bangsar, a residential suburb near Kuala Lumpur, is strategically located near Petaling Jaya, Mont Kiara, and Damansara Heights. Known for luxurious developments, it has ongoing projects due to high demand and affluence. The top three transacted landed homes are Bangsar Baru, Bukit Bandaraya, and Lucky Garden. Notable searches include Alfa Bangsar Serviced Apartment and Bangsar Peak Condominium, both experiencing significant YoY growth.
8. Subang Jaya: Returning to the list in eighth place, Subang Jaya is a suburban area with diverse property options and excellent highway connectivity. Home to multiple educational institutions, including INTI International University and Monash University Malaysia, it offers proximity to vibrant districts. The most transacted properties are landed homes in Putra Heights, USJ2, and USJ11. Top property searches include Armani Soho and Summer Villa Condominium, witnessing substantial YoY increases.
7. Kuala Lumpur City Centre (KLCC): KLCC retains its position as a central district home to iconic landmarks like the Petronas Twin Towers. Connected to Bukit Bintang and TRX via the MRT Line 1, KLCC experiences value growth due to limited land availability. Main transactions involve Residensi Laville, Suria Stonor, and Platinum Suites. Top searches include Royce Residence and The Manor, indicating the area’s allure with significant YoY growth.
6. Bukit Jalil: A newcomer, Bukit Jalil, is an affluent suburb hosting sport and tech facilities. Home to companies like MIMOS and SIRIM, it thrives with local developments such as Bukit Jalil City. Notable transacted properties include The Z Residence and Residensi Park. Affordable properties like Arena Green, with a median price of RM308,000, are gaining attention. Top searches are Aurora Suites @ Bukit Jalil and Casa Green, both experiencing YoY increases.
5. Puchong: Maintaining its fifth-place position, Puchong is a mature area with shopping centers like Tesco Extra Puchong. Served by major expressways, including the LDP, it offers accessibility. Most transactions involve terrace houses in areas like Bandar Puchong Jaya. High-rise homes like Twin Residences and Seri Puteri Hills are top searches, both with notable YoY growth.
4. Cheras: Nestled in a mature area with a blend of old-world charm and modern attractions, Cheras benefits from its proximity to Kuala Lumpur City Centre. The completion of the Sungai Buloh Kajang MRT line and new highways has increased demand. Transacted properties include Residensi M Vertica, Sri Penara, and Angkasa Condominiums. Top searches are Aster Residence and Trion @ KL, showing substantial YoY growth.
3. Johor Bahru: Securing the third spot, Johor Bahru experiences a rise in property transactions. The upcoming Johor Bahru-Singapore RTS and eased MM2H program conditions contribute to this growth. Top transacted properties include Taman Johor Jaya, Country Garden Danga Bay, and Taman Pelangi. Noteworthy searches include Trellis Residences and Twin Tower Residence, both with significant YoY increases.
2. Mont Kiara: Jumping from eighth to second place, Mont Kiara is renowned among expatriates and locals, offering established amenities and prestigious international schools. Transacted properties include Seni Mont Kiara, Residensi 22 Mont Kiara, and Pavilion Hilltop. Top searches are serviced residences, Trinity Pentamont and Residensi Sefina Mont Kiara, both experiencing notable YoY growth.
1. Petaling Jaya: Securing the top spot for the second time, Petaling Jaya remains an ideal living destination with a network of highways and diverse amenities. Top transacted properties include various bungalows, semi-Ds, and terrace houses in SS2, SS3, and SS22 & SS22A Damansara Jaya. Top searches are Atwater Serviced Apartment and Panorama Residence Condominium, both with significant YoY increases.
PropertyGuru Malaysia Country Manager, Sheldon Fernandez noted the significant shift in homebuyer preferences.
As developers adapt to changing trends, mixed-use developments blending residential, commercial, and recreational spaces are anticipated.
These developments aim to transform central business districts into multifunctional hubs catering to various aspects of life.
