Gen Z Malaysians Prefer Condominiums and Apartments over Landed Properties

The preference of Gen Z Malaysians for condominiums and apartments is a significant shift from previous generations, with 84% of Gen Z buyers opting for units compared to just 16% who choose landed homes, according to a study by property group Juwai IQI. This generational divide could reshape Malaysia's housing market in the coming decades. The study, based on over 127,000 transactions since 2018, highlights the changing preferences of young Malaysians, who are nearly nine million strong and will drive demand in the housing market for the next 20 years.

Key Takeaways:

• 84% of Gen Z buyers purchase condominiums or apartments, while 16% opt for landed properties, reflecting their preference for urban lifestyles and proximity to workplaces, transport, and amenities.
• Gen Z's choice of condominiums will shape how Malaysia's cities and suburbs grow over the next 20 years, with nearly nine million strong driving demand in the housing market.
• Boomers, aged 60-80, are more likely to downsize into condominiums for easier upkeep, accounting for 93% of transactions among this age group.
• Generation X, Malaysians in their late 40s and 50s, still lean towards terraces, duplexes, and other landed homes, although 75% of their purchases are also units.
• Affordability is a key factor in Malaysia's housing market, with monthly expenses for high-rise homes estimated to be RM200 lower than for a terrace house and RM1,200 lower than for a detached home, on average.

Statistics:

• 84% of Gen Z buyers purchase condominiums or apartments.
• 16% of Gen Z buyers opt for landed properties.
• 93% of transactions among Boomers (aged 60-80) are condominiums or apartments.
• 75% of Generation X's purchases are condominiums or units.
• 69% of Malaysia's housing stock and transactions are landed properties, compared to 31% high-rise units (National Property Information Centre data, 2024).
• Average monthly expenses for high-rise homes are estimated to be RM200 lower than for a terrace house and RM1,200 lower than for a detached home.

Sources:

• Juwai IQI
• National Property Information Centre (2024 data)