Juwai IQI Reports Record Sales Volume In 2021
Global real estate company Juwai IQI transacted a record number of residential property sales in 2021. The Kuala Lumpur-headquartered company completed 31,000 sales transactions globally, up 41% from the 22,000 it transacted in 2020.
Juwai IQI Co-Founder and Group CEO Kashif Ansari said:
“In the past year, many of our locations reported record results. In Malaysia, our team worked very hard to help home buyers and sellers, despite the pandemic. We transacted a record number of both sales and rentals in Malaysia in 2021.
“Outside of Malaysia, our fastest-growing locations were Canada, Australia, and Vietnam.
“The most important factor in our success in 2021 is our team. In addition to the corporate team, we have a global network of 23,000 agents in 20 countries. Juwai IQI is made up of some of the very best property professionals in the world.
“Our financial results were supported by historically strong property markets in several of our locations. The synchronised global economic recovery, historically inexpensive financing, buyers’ excess savings, and massive shift in buyer preferences all contributed to strong home markets in many countries where we operate.
“Canada and Australia are two of our markets that demonstrated the strongest price growth. Canadian home prices climbed 18% in 2021, according to the Reserve Bank of Canada. That’s almost double the growth rate of any other year in recent history.
“In Australia, home prices climbed even faster and ended the year 22% higher than they began it. That data comes from CoreLogic.
“We have built a global business that operates in diverse markets. This international diversity is a great strength that allows us to seek out growth wherever in the world the opportunities are.”
Ansari continued, “Looking forward to 2022, we believe we have the teams and technology in place to build on last year’s success and deliver even more impressive results.
“We think this will be a year of consolidation in the Malaysian residential market. We expect an uptick in economic growth and household income to put a floor under demand and contribute to an increase in transaction volume.
“The greatest demand in 2022 will be for landed homes and units with larger interior spaces and access to abundant outdoor recreation. We also forecast that, later this year, Malaysia will see a trend already present in other global cities. Residents who during the worst of the pandemic moved out of the city will begin returning in significant numbers, pushing up buyer and renter demand in central districts.
“The housing market depends on the economy. Growth in income and employment will have positively affect the real estate market.
“Agents in Kuala Lumpur are already experiencing an increase in terms of activity. While prices are stable, transactions numbers are climbing and you are seeing more situations in which multiple buyers are competing for the same home.
“As the economy continues to rebound in the lead-up to the general election, we expect residential transactions to increase.”
Tech-Enabled Business Model
Nabeel Mungaye, Co-founder and Group COO & CIO of Juwai IQI, said:
“Our strategy of combining an advanced technological platform, advertising portals, and a global network of 23,000 agents in the business model of the future. Real estate is no longer just a people business and is not just a technology business.
“At the core of our strategy is our super-app, Atlas, which puts the power of our advanced technology platform in the palm of our agents’ hands, wherever they happen to be.
“Only companies that put that most advanced technologies at the service of highly qualified individuals will succeed.”