Global real estate company Juwai IQI today released its 2022 calendar year results, revealing 38% growth in completed transactions, US$3.1 billion in sales, and the expansion of its agent network to 20 countries and more than 30,000 individuals.

Results Overview

"Our commitment to Malaysia as our most important single market has been one key to our success," said Juwai IQI Co-Founder and Group CEO Kashif Ansari.

"With its supportive regulatory environment, entrepreneurial workforce, and fast-moving real estate market, Malaysia provides rich opportunities. We are committed to remaining in Malaysia and continuing to build our technology and data team here. We think it offers Asean's most appealing combination of conditions for a business like Juwai IQI.

"In 2022, Juwai IQI completed 42,912 transactions, which is up 38% from the 2021 total of 31,000. By comparison, Juwai IQI's completed 22,000 transactions in 2020.

"We also expanded our IQI global agent network by more than 9,000 individuals over the past 12 months, bringing the total number of agents worldwide to more than 30,000. We opened 11 new offices so that in total we now have 52 offices across 20 countries. Our teams operate in Asia, North America, Europe, the Middle East, and Australasia.

"A career in real estate is a financially and personally rewarding. In Malaysia alone, our agents and real estate negotiators earned commissions totalling US$67 million (RM300 million).

2023 Forecast — Malaysia

"We see many opportunities to exploit in 2023. During the past three years, we demonstrated that Juwai IQI could continue to grow and provide agents with opportunities in the most difficult economic conditions. We want 2023 to be a year of growth and opportunity for all the agents in our network. We will give them the technology, training, and opportunities they need to succeed.

"The residential market has started to firm up. We believe transaction activity will increase in in 2023 by up to 3%. The global environment is one of high inflation, rising interest rates, and lingering supply chain challenges. Malaysia is weathering the difficult global situation in relatively good shape, thanks to high commodity prices, exports, and strong employment.

"Developers tell us they are confident about the 2023 to 2025 period. In the third quarter, developer residential starts and planned new supply both hit their highest levels in at least five quarters. Residential starts soared by 71% from about 18,000 in Q2 to 31,000 in Q3. Meanwhile, developers' pipelines in terms of new planned supply also jumped 35% to a new high.

"This year, attractive new projects will continue to sell strongly. Projects that are poorly designed, marketed, or priced will suffer. Demand has firmed up and buyers are coming into the market, but buyers have plenty to choose from and are discriminating.

"Chinese buyers will be back in greater numbers in the second quarter. There are still far fewer flights between China and Malaysia than in 2019 and they cost at least 30% more than they did pre-pandemic."