Generation Z in Malaysia, those born between 1995 and 2005, is showing a growing trend toward homeownership, according to new data released by property agency IQI, part of the global PropTech company Juwai IQI.
Kashif Ansari, Co-Founder and Group CEO of Juwai IQI, emphasized the importance of this development, pointing out that owning a home is a key step for Generation Z in establishing a secure financial future.
“Over the past two years, Generation Z’s share of home purchases has risen from 17% to 26%. While they still lag behind Generation Y, who account for 50% of purchases, the trend indicates that Gen Z is following a similar path as previous generations, moving from renting to owning as they come of age,” Ansari explained.
In 2019, when the oldest members of Generation Z were just 24 years old, they represented only 3% of homebuyers. However, their participation in the real estate market has since surged, with 26% of current home purchases attributed to this group.
Though renting remains common among this generation, Ansari stressed the critical role of homeownership in achieving financial stability.
While it’s natural for younger individuals to start with rentals, it’s crucial that Generation Z begins moving towards owning their homes to build wealth and benefit from property appreciation.
Kashif Ansari
Accounting for a quarter of Malaysia’s population, Generation Z is set to play a pivotal role in shaping the country’s economic future.
Juwai IQI was featured in Focus Malaysia, Kopi and Property, Business Today and Moomoo Malaysia.
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