80% of Gen Z Malaysians opt for high-rise living
Four in five Gen Z Malaysians are choosing to buy condominiums or apartments, marking a sharp contrast with older generations who continue to favour landed properties, according to property group Juwai IQI.
The study, based on more than 127,000 transactions since 2018, suggests the generational divide could reshape Malaysia’s housing market in the coming decades.
“Gen Z are buying into the skyline, while Millennials and Gen X keep their feet on the ground,” Juwai IQI co-founder and group chief executive officer Kashif Ansari said in a statement today.
The data shows that 84 per cent of Gen Z buyers purchase units compared to just 16 per cent who opt for landed homes.
In contrast, Generation X — Malaysians in their late 40s and 50s — still lean towards terraces, duplexes and other landed homes, although 75 per cent of their purchases are also units.
Boomers, aged 60 to 80, are more likely than Gen X or Millennials to downsize into condominiums for easier upkeep, while the oldest group — those above 80 — overwhelmingly buy units, accounting for 93 per cent of transactions.
Kashif said the preferences reflect life stages and urban lifestyles. Younger buyers often want homes close to workplaces, transport and amenities, while families in their 30s to 50s prioritise space.
“Gen Z, who are nearly nine million strong, will drive demand in the housing market for the next 20 years as they upgrade to larger units or landed homes. Their choices will shape how our cities and suburbs grow,” he said.
Despite the trend, landed properties still make up the majority of Malaysia’s housing stock and transactions. In 2024, 69 per cent of homes were landed, compared to 31 per cent high-rise units, according to National Property Information Centre data cited in the report.
Kashif noted that affordability is a key factor. 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, on average.
“Every generation has its preferences, and by recognising and responding to them, Malaysia can continue to provide homes that meet the needs of all its people,” he said.
Source: MalayMail.com
That’s why Zen6 is most sought after in Penang Island.
Fantastic Seaview with high future capital appreciation.
Landed too expensive.
@Roy @ Grey Property
We don’t need landed as young generation just having a small family. To be honest, we don’t see any new gated guarded landed in Island so, not much choice unless Andaman. Everyone is rather go for branded residence or highend condo which you got a better view & easily to maintain. Condo is more expensive than landed now at Island. If you look at Quaywest, it’s a sky semi D with landed size & more expensive than sungai nibong terrace as well.
this is a joke
Affordability is the first issue, if can afford andaman landed why want to buy packed sardine tins?
Even if old terrace is cheaper but they have no money for downpayment, maintenance and renovation. if no rich parent then just go with the flow : sardine tins.
new condo is small and easy to maintain and cater to lifestyle, but deep down is affordability issue which they put aside and ignore with a cuppa of coffee or chilling with low saving.
@millionaire
Condo more expensive than landed in island? bro you should compare same location to same location, how much are those landed beside quaywest?
Don’t compare balik pulau landed and queensbay area condo.
@Islander
Exactly. My landed house near Queensbay area is expected to fetch 1.5 million.
What’s Quaywest expected price?
@millionaire
Exactly. My Quaywest condo fetch rm700 to rm800psf.
How’s your landed expect? Go check sungai nibong terrace house with total usable area.
@millionaire
Terrace is double storey. So, need to compare with duplex.
Quaywest duplex is fetch 1.6M above now…
@Islander
It’s true lah bro. Let’s compare high-end at Tanjung Tokong, E&O’s latest landed homes on prestigous Andaman island. 3 storey terrace with built-up of ~3600sqft selling at 3.6 mil, works out to be about RM1000/sf. And condos in that area, easily around RM1300 /sf. A lot of people don’t consciously realize that because condos with smaller built-up are common, whereas new landed homes are normally at least 3000-4000 sf in builtup size.
@rojak
Yes. Exactly. Condo is very expensive. Small & high price psf.
Even westin & Marriott residence I can easily own a landed or a semi D 2M+ above. Nowadays, people tend move to condo for easier maintenance/ safety comfort & off course better view & air quality. Small family is current trend in Penang. Selling semi D or landed moved to highend luxury Condo is common nowadays especially for retirement.
@Minion
My affordability is low & no money or downpayment.
That’s why end up in Lumina residence 1.2M+ only. lol..
@millionaire
this is not how you measure the price of landed property compare to condo.
@Minion
Then? Full stop already? Share us how you measure it.
In Penang, condo is definitely more expensive. As you said is sardine & sardine still so expensive. You couldn’t deny that & most of landed in Penang getting older and older. Banglo sold piece by piece in Gurney drive along millionaire row.
You imagine you stay in landed but surrounded by high rise development around. You will run away also.
yes and free legal fees
@rojak
Actually, you can find smaller build up size landed house in penang island too, such as single storey terrace of build up ~1000sqft, normally price about 700k, which is similar price to a typical new condo too, but I think most people would prefer condo as for this type of single storey terrace, normally it is
(1) located in a less desirable neighbourhood
(2) house layout no privacy
(3) old house
(4) no facilities like gym and pool
(5) break-ins can happen easily (not to say no break-ins at condos, but much less common)
So when buyers choose property, being “landed” is not the single consideration factor, you have so much more other criteria to weigh. And I think modern mentality and requirements towards a house have changed tremendously over time.
Most people no longer want a big sad looking half empty living/dining area like in the old days, where you can hold a wedding function or a grand wake . They want a well furnished, well decorated cozy living/dining space where they can enjoy their privacy. You have hotels for wedding functions and palatial Nirvana memorial parks for grand wakes. Times have changed.
@Minion
Sorry. Even I afford 1.2M landed but still I prefer condo because brand new modern & better appreciation.
I wouldn’t purchase subsale landed… Lol.
Nowadays those whom purchase landed houses are only those whom can afford it in island and have cash for down payment/legal fees/renovation, or we can say technically rich one. This is referring to those rich and wanted exclusive areas. Not include hose commoners that cant accept areas further like balik pulau, teluk kumbar and teluk bahang then buy condo in exclusive areas because landed will be 2-3M not 700-1M.
rest assure non exclusive area like what greg say is cheap like 700K, and there have condo too u can buy for RM300K – RM400K range. You choose your areas
If we want good areas, of course condo cheaper not landed.
80% Gen Z want condo, that dont applies to mainland penang people.
Penang mainlanders are comfortable with landed and not pigeon hole,
whereas Penang island is too common and may grow up from condo not landed.
mentality.
@Minion
You keep silent because it’s fact that new condo is more expensive than landed. You have no confident to talk. Psf is definitely higher for condo if comparing at the same area unless LMC affordable unit.
If you look at COD/Marriott /Paragon/The Light even Lumina all well expensive than surrounding landed in usable area psf.
Most of youngster don’t choose landed doesn’t mean they are not capable to buy landed but condo modern life style facilities are their preferences.
@Minion
It makes a little bit of sense technically. Somehow In reality, more & more rich person chooses to move for condo instead of landed due to downsize of family members & kids are moving to form their own family preferable condo as well. I mean condo range 1M to 3M at Island. It’s part of quality life style small family upgraded for easy maintenance, better environment & neighbourhood such as Gurney Bay/ The light city/Queens waterfront etc..
@Minion
I am from Sabah living at landed for my childhood but Im enjoying living in good condo in Island Penang (low dense condo), normally people tends to prefer something that they don’t have or never experienced. landed ppl tends to desire living in high rise meanwhile those who lived in high rise / apt for their childhood might desire to live in landed. But to be honest for temperature and humidity wise, high rise is less hot compare to landed unless you are staying at very kampung area like sabah sarawak, or else penang most of the landed are very hot temperature and some so called few million bunglow at jalan scottland for example occasionally got indian events parked just right outside of your gate , jalan burma’s bunglow normally got tons of cars parked illegally on your house gate. I dont see any enjoyment living in island bunglow.
@Hon
Very true. I have Semi D in Greenland current market price around 2M but end up I sold it & moving to Central Park.
My son & daughter moved to Quayside & Queens residence seafront condo.
@Network
Why didnt your children chose quaywest?
@Tui
So u mean andaman island landed property will be cheaper than the condo launched?
U take landed built up or land area to count for the PSF?
Then ask those youngster buy Gurney Paragon condo, no need second or third or bayan lepas.
Lifestyle
@Minion
Yup. It’s definitely cheaper for landed when comes to total psf usage. We already purchase Westin residences which we love it so much on location/ convenience & full privacy with some walking distance to hawker food in future.
Don’t simply shoot from sky. Property is individual preference & need detail understanding & experience.
Gurney paragon is cheaper actually in term of psf size but not a good choice for us because lack of privacy mix development. If you go into shopping mall & you still able to see residence swimming pool. That’s not our cup of cake unless you need the size. No all property justify based on size only.
We don’t set a third world mentality & underestimate the potential “second 3rd or even Bayan lepas”. Those area are full of potential & is Jewel of South for Penang. We don’t see any problem for youngster to purchase The light city/ Queens residence /PICC The Address BJ & so on. I believe all those really upgrade life style. We have many successful young people nowadays in Penang.
@Minion
Yes, you are right. Definitely landed as a whole is more expensive compared to condo provided they are at same location.
And we can’t compare landed to condo in psf as landed with land and condo without, it’s like comparing apple to orange.
In psf condo may be more expensive than landed due to they cover also the facility expenses.
Bear in mind house price appreciation not the house itself but is land, condo which only having strata title definitely will be lagging behind in long run when comparing to landed which has the whole piece of land.
Maths
@Network
Congratulation as your family had made good choice on choosing Quayside & Queens Residence as these two properties almost meet all criteria on factors of choosing good home, beside these two, I shall include The Light City also which others may consider.
Factors on choosing good property:
1)Location
2)Neighborhood
3)Lifestyle
4)Amenities
5)Future plans
6)Crime
7)Resale value
8)Home age
9)Safety
10)Open space
@millionaire
Agree with you on what you say about “bear in mind house price appreciation not the house itself but is land”.
That is why when you buy new 3 storey houses, there wont be any more value to be “extracted” from the land as it is almost fully build and anything higher than 3 storeys would be very troublesome and undesirable, so further price appreciation will be difficult to sell.
Plus some owners are already complaining about 3 storeys but they have no choice due to big family, and owning a 4000-5000 sqft condo would be too expensive for them, not to mention the monthly maintenance fee will be in the thousands, therefore only the super rich can afford all those giant supercondos.
@Tui
Anyway we had bought Fera Courtyard, and practically condo cant do much with those compacted spaces and nothing much to shout about.
Landed homes carry additional land value appreciation potential that condos often cannot match, especially in Penang where land scarcity is real. Many landed transactions in Penang Island consistently outperform condos in terms of long-term capital appreciation. Most upgrade of lifestyle is successfully buy landed and putting sport cars not buy condo and feel atas.
@millionhaire
Choices reflect your basic lifestyle, they don’t necessarily reflect the overall property fundamentals. Facts should be based on data – transacted prices, supply-demand balance, and appreciation trends – not just personal comfort with ice cream cone with cherry topping.
@rojak
We are talking about can Gen Z afford housing here, you bring in Andaman kinda absurd, doesn’t it?
Also, put aside Andaman such luxury spot.
I understand condo price per sqft easily higher than landed.
But you need to understand, people will buy 800 sqft condo, or even smaller, but how many are going to buy 800 sqft landed?
The entry price is different for Condo vs landed. There are more purchase-to-build condo out there compare to Landed. Location wise condo also more convenience and better to rent out.
As for landed, if you pull it bigger you can easily get cheaper price per sqft what? but doesn’t mean the entry is easier than condo at all. You not yet count renovation cost.
@Islander
For your info, that’s affordable house in Andaman for upcoming project by government.
I am curious to know is the price per square foot for smaller and larger condo units generally the same within the same block or location? From what I understand, landed properties that are too expensive to afford often end up selling at a lower price per square foot.
@Deen Yassin
Affordable homes on andaman island? affordable condo or low cost flat?
@sardine
Both available under stated government land.
Some land area reserved for a few project.