The count of Covid-19 detected cases has surpassed 1,000 each week lately according to COVIDNOW, sparking concerns and discussions on our community’s health.

Despite the increase in Covid-19 cases worldwide, Malaysia has not identified any new virus variants, according to Health Minister Dr. Zaliha Mustafa.

This rise in cases is typical towards the end of each year, and it’s happening in many countries.

Dr. Zaliha assured that most Covid-19 cases in Malaysia result in mild symptoms and don’t require hospital care.

Malaysia mainly deals with the Omicron variant, which spreads quickly but usually doesn’t cause severe illness.

While cases are going up, Malaysia’s healthcare system is still able to handle the situation.

Dr. Zaliha encouraged everyone to take care of themselves by staying clean and wearing masks if they feel unwell.

In these challenging times, it’s important for everyone to do their part to stop the virus from spreading and keep our communities safe.

Follow safety guidelines to protect yourself and others. Check COVIDNOW website to find latest Covid-19 cases.

In the midst of uncertainty, look for a career that will give you both financial and health safety. Become a real estate negotiator in IQI and work from home to stay safe, whenever you please.

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China’s borders have recently reopened for the first time since the beginning of the pandemic, allowing the world’s largest source of tourists and potential international homebuyers to travel freely around the globe.

The United States is the second-most popular home-buying destination for Chinese buyers, according to Juwai IQI, one of the largest global real estate platforms with almost 13 million monthly consumer engagements; Australia holds the top spot on the firm’s top five destination nations, followed by Canada in third, Japan in fourth, and Thailand in fifth.

“China is going from virtually sealed off to nearly wide open in just a couple of weeks,” said Kashif Ansari, chief executive of Asian real estate technology group Juwai IQI. “This will be the first opportunity for most Chinese to visit overseas real estate markets in three years.

“Chinese international property investment is already beginning to recover from its pandemic lows.”

Juwai IQI believes Chinese investments in foreign properties will increase rapidly this month alone and predicts outbound travel from China could reach 2019 levels by mid-2024. During the pandemic, Chinese international property investment slumped by 50 to 60 percent.

Juwai IQI was featured in The Property Tribune, The Epoch Times, Domain, Bloomberg, Free Malaysia Today, Mansion Global.

Juwai IQI is the world-renowned property company that provides insights on property, locally and globally.

Click below to get more expert property insights from our blog!

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The effects of the Covid-19 pandemic have not been as harmful as anticipated, according to the findings of a survey by the real estate technology group, Juwai IQI.

The survey, which involved hundreds of consumers, revealed that Malaysians did quite well compared to many other nations, said group co-founder and chief executive officer Kashif Ansari.

In a statement today, he noted that 28 per cent of respondents reported that their household income is now higher than 12 months ago, just over one year into the pandemic. In contrast, 40 per cent reported lower income, and 10 per cent of Malaysians reported that their income is now ‘a lot higher’ than one year earlier.

Kashif added that the best-off states are Penang and Sabah, with 29 per cent of respondents in each state reporting higher household incomes.

The survey, which examines the pandemic’s impact on household incomes, employment and businesses, also revealed that the pandemic had upended normal routines.

It also revealed that Malaysians differ on how fast life will be back to something resembling normalcy. Some respondents expect normalcy to return only 2023 or even later, while others believe it could happen as early as this year.

Read more: Bernama.com

Source: Bernama.com

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A report done by Juwai IQI shows despite the pandemic, it did not restrict the enthusiasm for properties among Asian buyers.

Georg Chmiel, Group Executive Chairman of Juwai IQI, shares the insights of the report with BFM.

“As a matter of fact, the demand for properties remains strong. This is because most property deals are done online with virtual tours, e-signatures, etc.

A few countries, Malaysia and Canada, moved up in the list and received more exposure to international buyers in the course of last year. Meanwhile, countries best known as safe-havens like New Zealand and Singapore suffered due to restrictions now made back into the list.

One of the biggest reasons for their transaction is for investment. Migration, lifestyle, and retirement are other factors for these purchases. There is a strong demand for regional properties, both domestic and cross-border. Due to Covid-19, people are moving out of the cities because their work can be done remotely.”

Listen to the full interview here:

Source: BFM

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The post Despite Covid-19, Overseas Properties Still Strong Among Asian Buyers appeared first on IQI Blog.

Let’s take a look at the real estate industry and its property buying process, and how technology transformed it for the better.

First Step: Search for Property

Let’s say Jasmine wants to buy a house. What is her first step?

She will probably search for houses on the Internet, and her search results will then show her property portal sites.

In this era of technology, people don’t need to physically visit houses on land to check them out anymore. We can just visit property portal sites to check out the property’s info.

How else can we utilize technology to significantly improve business, and attract potential property buyers like Jasmine?

Property platforms have now utilized technology like implementing filter functions for potential clients to easily find their dream house!

90% of the information absorbed by the human brain is visual, so virtual showrooms are definitely very persuasive.

Some property portals practice live or video recordings of properties for customers to view them during the Covid-19 lockdown. 

Other property portals like IQI, use 360 VR technology to provide their clients a more realistic experience of home tours!

Second Step: Meeting a Professional 

So after Jasmine has decided on a house, she will want to meet a professional real estate negotiator for a consultation to help her purchase the property. 

Want to ensure you get the best-qualified negotiator for your property? You can check whether your negotiator is registered here.

How can she meet up with a professional with the pandemic going on?

Utilizing online tools such as Zoom and Google Meet can help companies solve that problem! People can discuss property investment plans with professionals sitting safely in their houses, from their phones or laptop.

Replacing traditional business cards with virtual business cards is the right move in this era. IQI has done just so, and it has considerably smoothened the process of clients getting in touch with a professional!

Third Step: Purchase/Invest a Property

After consulting with a real estate negotiator through Zoom, she has decided to purchase the property. How can she sign the required documents during a pandemic, with everyone in a lockdown?

This is where technology comes in! Being able to close deals online is absolutely necessary for real estate negotiators in this situation. Companies should utilize technology to bring the entire process online and implement zero contact, to ensure that their employees and clients receive the best possible service.

Bonus Step: Follow Up

Jasmine has now completed her property purchasing process and is the proud owner of her dream house. What else can real estate negotiators do?

Companies can utilize technology like live streams to gain customer loyalty. Real estate negotiators can send them these online links and build a good relationship. 

Jasmine might find out through the live stream that currently Portugal has a Golden Visa Program, which allows her to become a permanent resident in 5 years. That sparked her interest, and will then contact her real estate negotiator again, to enquire about investing in foreign property.

Just like that, companies can gain multiple revenues from the same client, just by utilizing technology!

>> Read more: 6 Free Apps and Software to Maximise Productivity for Real Estate Agents

Covid-19 has impacted us in many ways, but in the middle of difficulty, lies opportunity. By utilizing technology to optimize and better your business process, you can ultimately transform the real estate industry. 

Be a part of the PropTech pioneer in Asia, and join us as a property negotiator to unleash your full potential! Let us conquer the property market, with transformative technology. Sign up now!

The post How Did Technology Transform the Property Purchasing Process in 2021? appeared first on IQI Blog.

Putra Business School associate professor Dr Ahmed Razman Abdul Latiff said this was although the government was facing the possibility of paying RM300 million in compensation to Singapore.

He said the cost of committing to the project was much higher, ranging from RM70 billion to RM100 billion.

“Given that the country is facing both health and economic crises at the moment, the financial commitment required to continue with the HSR project might not be the top priority for the government.”

Juwai IQI chief economist Shan Saeed said amicably calling off the project at this moment signalled that both countries understood the limitations and global fragilities in the external landscape, as most countries would be focused on maintaining macroeconomic stability this year.

“Markets won’t be affected by this decision. In my opinion, the government should focus on strengthening the domestic economy and demand to keep the growth trajectory moving in a structured manner.

Click here to read more about it.

SOURCE: News Strait Times

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Based on the Property Market Report – H1 2020 (NAPIC), the pace of improvement will depend on both domestic and external factors such as political stability, global oil and commodity prices as well as further developments related to the COVID-19 pandemic.

Behind the Property Market Activity

1.The property market performance recorded a sharp decline in H1 2020: H1 2019.

2. The property sector recorded 115,476 transactions worth RM46.94 billion in H1 2020.

3. The residential sub-sector led the overall property market with 65.2% contribution, over  54.6% share.

How is the Residential Property?

4. There were 75,318 transactions worth RM25.61 billion recorded in H1 2020, declining 24.6% in volume and 26.1% in value – with the residential overhang continuing to increase.

5. Selangor contributed the highest volume and value to the national market share, with 22.8% in volume (17,178 transactions) and 32.9% in value (RM8.44 billion).

6. Sales performance was poor at 3.3%, considerably lower compared to H1 2019 (30.9%) and H2 2019 (28.4%) – due to the Movement Control Order period.

How is Commercial Property situation?

7. There were 8,118 transactions worth RM8.51 billion recorded, declining by 37.4% in volume and 33.2% in value (H1 2019: 12,962 transactions worth RM12.75 billion). 

8. Performance across the states slumped as all states recorded significant declines in market activity; 

• Selangor (1,870 transactions worth RM2.4 billion)
• Kuala Lumpur (1,212 transactions worth RM2.09 billion)

9. The overall performance of purpose-built offices remained stable at 80.6% in the review period (H2 2019: 80.6%). 

• WP Kuala Lumpur and Pulau Pinang secured higher occupancy rates at 75.8% and 78.6% respectively.
• Selangor and Johor logged in lower than the national rate at 69.8% and 65.0% each.

Read more;

Malaysia: What is B40/M40/T20? Are you qualified for “Kita Prihatin”?

8 questions a first time home buyer may have for buying a house in 2020

What is the NAPIC Outlook for 2020?

10. The NAPIC H1 2020 reporting recorded a sharp decline in the first half of 2020 (H1 2020), in consonance with the Malaysian economic performance, which contracted by 17.1% in Q2 2020 (Q1 2020: 0.7%). 

11. According to Bank Negara Malaysia, the Malaysian economy is expected to recover gradually in H2 2020 as the economy progressively re-opens and external demand improves – projected to experience negative growth within the range of -3.5% to -5.5% in 2020.

12. Further assistance from the government such as;

• Short-term Economic Recovery Plan or PENJANA 
• Reintroduction of the Home Ownership Campaign (HOC)
• Real Property Gains Tax (RPGT) exemption
• The relaxation of the current 70% financing margin limit for third housing loan onwards

How is Property Market of Q3 is holding up?

Despite the uncertainty of the economy, the volume of units sold has risen up to 6,160 – from 89,270 from 83,085. 

Yet, we have to bear in mind the transaction of Q3 has dropped slightly as many units have been offered discounts to discourage the property overhang situation.

Conclusion?

Despite the cautious optimism towards the nation’s projected gradual economic recovery, with the resumption of market activity under the Recovery Movement Control Order (RMCO) – the report presented by NAPIC shows the property market is more than likely to remain soft for the remaining half of 2020. 

Interested to know more about the NAPIC reporting in full detail? Leave your details below and a member of our team will assist and answer any questions.

The post NAPIC H1 2020 Report | 12 Things You Should Know appeared first on IQI Blog.

Beginning on the 7th August 2020,  borrowers need to apply directly with their respective banks in order to obtain loan repayment flexibility.

With the blanket loan moratorium set to end on 30th September, banks are ready to assist affected borrowers – who have suffered from the COVID-19 situation with repayment plans.

What happens after the loan repayment period starts?

By delivering a simplified application and documentation process for borrowers, the flexibility provided to borrowers during this period will not appear in the borrowers CCRIS (Central Credit Reference Credit System) reports.

Prime Minister Tan Sri Muhyiddin Yassin announced measures to provide a targeted extension of the moratorium and repayment flexibility to individuals and small and medium enterprises (SMEs) who continue to be affected by Covid-19.

3-month loan moratorium extension for the jobless

Individuals who have lost their jobs in 2020 and have yet to find new ones will be offered an extension of the loan moratorium for a further three months by their banks.

Meanwhile, individuals who are still employed but whose salaries have been affected due to COVID-19 will be offered a reduction in loan instalments in proportion to their salary reductions, for a period of at least six months and depending on the types of financing.

Banks will also consider extending the flexibility at the end of the extended loan period, bearing in mind the salaries of the borrowers at that time.

It added that for hire purchase financing, affected borrowers will be offered revised instalment schedules that are consistent with the Hire-Purchase Act 1967.

What else are banks doing for the affected borrowers?

In addition, banks have also committed to providing repayment flexibility to other individuals and all SME borrowers affected by COVID-19.

To ease the loan repayment application process for borrowers with loans from multiple banks, Bank Negara Malaysia said affected parties may approach the relevant “one-stop” centres to work out appropriate assistance packages.

• For individuals – Credit Management and Counselling Agency
• For SMEs – Small Debt Resolution Scheme 

Throughout the year, Bank Negara Malaysia will monitor the progress of banks in assisting borrowers that may continue to face temporary financial difficulties.

Remember, it is times like these where need we keep our heads above the water for the sake of ourselves, our loved ones and our community.

Keep calm and carry on the Malaysian spirit as high as you can! #StayHopefulWithIQI

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As of 20th July 2020, Prime Minister Muhyiddin Yassin, in a nationally televised address, warned fellow Malaysians that if COVID-19 infections were to increase again, then the government would be forced to impose another lockdown and the economy would suffer –  a total of 2 billion Malaysian Ringgit a day.

The Malaysian government plans to make wearing face masks in public mandatory.

The Prime Minister issued a stern reminder for Malaysians to comply with government guidelines to reduce the spread of COVID-19.

He also warned that those who breach the rules will face fines and stiffer penalties are being considered.

“Law enforcement will be improved and heavier fines will be charged on those who are found violating laws and regulations. The government is currently considering making it compulsory for people to wear face masks in public,” he said.

He then added, “Further details will be announced after the government has finalised the policy.”

Muhyiddin’s warning comes as new COVID-19 clusters begin to emerge in recent days.

For the latest information, please visit the official Facebook page of the Ministry of Health. 

Let us #StayHopefulWithIQI by keeping yourself up-to-date:

Malaysia enters Recovery Movement Control Order (RMCO) phase until 31st August 2020

Remember, it is times like these where need we keep our heads above the water for the sake of ourselves, our loved ones and our community. Keep calm and carry on the Malaysian spirit as high as you can!

The post RMCO UPDATE | Malaysians, a reminder from your Prime Minister appeared first on IQI Blog.