Property market paradigm shifting in Malaysia. Are CMOs aware?

Times and market have changed fast in a slow economy. The customer is changing even faster. Properties will begin to sell again, no doubt. But to whom and why are they buying? Where is the golden egg going to be?

A market and industry awakening to a changed era. Fast outdated will be property developers stuck with the old tactics - roadshows, buntings and flyers.

A whole generation of Ys have come to realise that the pricing of houses are beyond most and they have instead been spending their money on gadgets, good food and travel - near and far. Movies, computers, online shopping have all retained glorious sales charts despite the property sector glum. In general, GenY still have rooms allocated at their parents’ homes. There is always an extra family car to use. Yes. Owning their own home is ideal, but they are not getting the salaries they were expecting in relation to the prices of things.

And just popping their heads up from colleges soon is GenZ. A generation that have witnessed the slavery of their parents to housing loans, car loans, study loans and credit cards. Yet, a large number of these families already have second homes ready for them to live in or to maintain. There is a safety net. Home-loan-slavery is not top of their wanted list.

So, “ Who is buying?” The question is rather “Who is renting?”

AirBNB is the clearest indicator of the property future. The real estate is no longer desired to be owned but to be experienced. Places to go and see. Places to go and eat.

Rental-ability is the new yield yardstick. Property developers need to switch their end goals to the consumers of their customers' properties. Rentals and leases will be the new game.

It is not just the young who are traveling. Everyone is traveling to experience life and living in another place. Not sightseeing. But clearly living for weeks and months. Some for recuperative stays. Sabbaticals. Medical. Wellness. Academic. Escaping from cold winters. Hot summers.

Hence, new property projects can take heed of the impending and present trend to sell to customers willing to enter the rental market.

En bloc serviced suites? Rentals? A professionally run rental facility that is between AirBnb and hotels.

Be aware, be ready.

The 4 Quotient Resonance Model

4 QUOTIENT RESONANCE from Kenneth Tan

SKEW-ing on the right brain.

The promise of personal sunset views every evening may justify
the extra 15 km distance.

Quite a number of business owners (referring quite specifically to local SMEs/property developers in Malaysia) still haven't got this 'skewed' on right. Their organisation may not consists of any marketing-skewed person(s) in contributive/ effective roles. The era of sales person(s) or secretarial person(s) working up the ranks to marketing head positions are gone since the 1990s. But no, strains of such culture remains. This becomes one of the biggest frustration to the creative agencies as well as to the younger workforce.

My most recent experience is to see a whole well-thought out campaign to bring desirability to a well-built township go the other way of the common brain. Higher-end property developments in Malaysia especially, require many right-brain factors - emotive reasons to believe in: "A better place for kids to grow up"; "Getting back to nature"; "Community of like-minded people"; "Country home in the city"; "Sexy architecture"; etc. Successful cases of such are like Setia Eco-City - miles away but they sold on well-planned landscaping; Desa Parkcity - Best master planned suburban township; Gita Bayu, and so on.

With lower-end property products, it is all left brained - product, price and payment. Right braining steps in after to assure that was a good buying decision.

On the other hand, with higher-end products, the reason to buy or purpose precedes the rational. "How will this change my life?"; "I deserve a great place like this"; "Finally, privacy"; etc.

So, when this mentioned project started to attract enquiries to the lower cost apartments instead of to the desired sub urban community lifestyle, the clear danger of a damaging perception positioning happened. It will take more than an emotive video to repair. It is really frustrating as a professional marketer to see such damage wrongly-placed people do to their companies and businesses.

It does not matter what career background you come from, what matters is whether you are SKEWED-right. Marketing or Sales. Of course you can do sales without marketing, but whether the brand or product is sustainable for the next phase or round. or whether the full potential value is realised.

Imminent Growth.

The journey had been long.
Twenty and twelve years.

The realisation was in April 2017.

Having watched Vishen Lakhiani's video on Impact Theory, a large bell rang in my head. Since leaving the big jobs at the agencies, I have been 'endeavouring' to set up the large business platform. This in fact is not my 'END GOAL'... I like to teach, share and write. I have been trying to build a bridge to get to the other side when I could already jump across.

Hence, KENMERINTIS™ is my starship enterprise, setting myself free from the constraints of a formal business into a contributive strategic and creative existence.
Here is the video from Impact Theory and 2 others on this same subject. This guy has the same inclinations as myself.