: Homebuyers are being bogged down by affordability, the inability to secure loans, job security, and overall economic instability when it comes to purchasing a home,The Malaysian Institute of Estate Agents president, Chan Ai Cheng, said these factors are plaguing the market.“Since there are so many discounts available for first-time homeowners, they would rather buy new properties rather than subsale so they can avoid spending on a down payment,” Chan told The Malaysian Insight.
She said that the trend also shows that purchasing power has declined, leading to more people renting instead of buying. Chan said real estate agents have noticed landlords are unwilling to renovate their houses or offer tenants their old furniture.Data from PropertyGuru showed that the Rental Price Index saw an increase of 1.22% in the first quarter of this year.