PropertyGenie tapping into East Malaysia's proptech market
KUCHING: It is 2024 and the traditional laborious homesearching methods are long abandoned for the convenience of scrolling and filtering through property options online with just a few clicks.
For Malaysia, the total property transaction value reached RM85.37 billion in the first half of 2023 and is on its way to promising growth in 2024. But will it be enough? According to Datuk Seri Ivan Wong from Property Genie, technology must be at the forefront of the real estate sector to simplify and improve all aspects of buying, renting, and selling properties.
This involves cutting down paperwork and making buyeragent interactions smoother.
“In 2023, property technology (proptech) was projected to be valued globally at US$20.7 billion and will grow at a compound annual growth rate (CAGR) of 6.5 per cent until 2030.
“By riding this momentum, Malaysia's property realm is bound to reach new heights and Property Genie is leading this change,” he said in an interview with The Borneo Post.
“Property Genie is actively expanding in East Malaysia as well – a key focus area for us,” he added. “We are rapidly growing our agent network here, providing them with the exposure they are looking for.”
Wong noted that the positive feedback from both agents and users in Sabah and Sarawak are encouraging and underscores our commitment to delivering value in this market.
“Our presence in Sabah and Sarawak is strengthening, with over 20 agents currently subscribed to our platform. We are excited about this growth and anticipate welcoming more agents as we continue to broaden our exposure here.”
Wong commented that the team designed Property Genie's portal to be straightforward and intuitive, ensuring it is easily navigable for all users, including the older generation and those new to real estate platforms.
“We have several innovative tech features in development, such as integrating area-specific property price trends and location insights.
“These additions will soon allow users to access comprehensive property information directly on our platform, eliminating the need to seek information elsewhere.
“With its comprehensive online platform, Property Genie's userfriendly interface alleviates visitors' property-searching experience with interactive maps and high-quality images.
“Interested buyers and investors can also use the platform's analytics and loan calculator to get accurate information on the current property market in Malaysia.”