With the aim to reduce speculation and promote a healthier property market, Brickz Researc h Sd n Bhd has launched brickz.my, a property portal that provides details and due diligence on transacted property prices across Malaysia.
“Everyone should have access to reliable and upto-date property price information at their fingertips. Therefore, brickz.my will offer hassle-free steps for property buyers, real estate agents and investors to get the most upto-date, relevant information on sub-sale property transaction prices,” founder and MD Premendran Pathmanathan said in a news conference after the launching of the new property portal in Kuala Lumpur yesterday.
Premendran said the website sources data from the Valuation and Property Services Department, which officially records property transactions once the stamp duty for the Sales and Purchase Agreement is paid.
“For example, a buyer interested in residential property in SS19 in Subang Jaya, Selangor, will find the highest and lowest average price of any particular unit and price per sq ft. Details of transacted prices are also displayed as well as the number of rooms, size of property and also on whether it is a corner unit or intermediate unit or end lot,” he explained.
The website displays 10 latest transactions for residential, commercial, industrial, land and agricultural projects in Kuala Lumpur and Selangor for free.
Serious investors, buyers and industry players, however, can subscribe to budgetfriendly single reports which cost about RM30 and yearly subscription at RM300, and even customised reports for full details, updates and access to all tools and transactions.
Currently, brickz.my provides informations on transacted property prices in KL and Selangor only, but in the coming months the company is looking to spread its wings to Penang, Johor and Negri Sembilan, said Premendran.
“For a start, we are targeting to attract up to 3,000 subscribers by the end of this year. Presently, we have about 50 subscribers,” he said.
Apart from offering property purchasing support, brickz.my also aims to increase Malaysia’s global real estate market transparency ranking according to Premendran.
Malaysia is now ranked 27th in the 2014 Global Real Estate Transparency Index.
“Singapore is ranked No 1 in the region, although we are ranked much higher than countries like China, Thailand, the Philippines and Indonesia. This website will work towards improving our ranking as well as building a healthier property market and curbing speculation,” he said.
Brickz.my also offers a mobile-friendly version to ensure users are updated on the go.
“We want to provide information as fast as possible to facilitate users to make informed decisions on properties within minutes. The ultimate aim of brickz.my is to turn one of life’s most stressful experiences into an easy, convenient and quick process,” he said.