Explore the urban resurgence in property searches, with Cyberjaya making a notable comeback. Discover evolving trends in the dynamic real estate landscape.
KUALA LUMPUR, 2nd Jan 2024 – The allure of urban living is on the rise, spurred by the return-to-office policies implemented by an increasing number of employers. According to iProperty.com.my, Petaling Jaya, Mont Kiara, and Johor Bahru top the list of most searched locations in Malaysia.
Cheras and Puchong secured the fourth and fifth spots, following Bukit Jalil, KLCC, Subang Jaya, Bangsar, and the noteworthy return of Cyberjaya in 2023. While once hailed as Malaysia’s Silicon Valley, Cyberjaya has recently faced a reputation challenge, portrayed as a “ghost town” with abandoned establishments featured in social media videos.
Originally envisioned as a “multimedia economy” hub by former Prime Minister Tun Dr. Mahathir Mohamad in 1997, Cyberjaya, with over 100,000 residents, has evolved into a residential neighborhood known for affordable rent and a cost-effective living environment.
Despite initial aspirations, the city has shifted from a tech-centric space to a residential area, punctuated by open parks and leisure spaces like the Cyberjaya Lake Gardens. The completion of the MRT Putrajaya Line adds to the positive developments in the region.
Sheldon Fernandez, Country Manager at PropertyGuru Malaysia, notes the thriving rental market and increased searches, attributing it to the student-friendly environment and the presence of expatriates working in the area. The list of top-searched areas highlights a shift in homebuyer preferences back to urban living, aligning with the return-to-office trend.
Fernandez emphasizes the adaptability of the property market, with developers now considering mixed-use developments that seamlessly blend residential, commercial, and recreational spaces. These developments aim to transform central business districts into multifunctional hubs where residents can live, work, and play, creating self-contained ecosystems that cater to diverse aspects of life. As the property market continues to evolve, the future promises innovative trends in urban living.
