Real Estate and Property Values in Malaysia The value of the property in Malaysia is increasing day after day. This is happening due to increasing in the economy of this country. The location of the property contributes most to its increase in value. A property that is near public goods will fetch high amount. Another important area is a shopping mall, a busy road or a temple, properties near this area are in high demand. An increase in salary causes an individual to become tempted to do investment in land. Individuals are willing to upgrade into bigger homes and the higher-income group to purchase more investment. Supply and demand is that ability of individuals to purchase real estate even when there is shortage. Increase in demand and supply are the conditions that affect value of the property in Malaysia. When the demand decreases, the value of the property falls. Malaysia has an enormous population. Penang has a high population of 1,490 people on average per square kilometer. This high population leads to congestion in the area and the land becomes less. Penang also receive a lot of tourists and foreign retirees leading to increase in demand and increase in value of the real estate.
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In addition science of construction is affecting the value of property in Malaysia. Properties that are nearing water bodies are very expensive. Feng Shi is bringing many blessing to Malaysia people and people are believing in it. As a result people are considering the location of a property very much.
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The inflation costs is another factor that is affecting the value of goods. Inflation entails rise and fall of the value of a property. Latest news in Penang is showing that the value of property is going to increase by 5%-10%. The cement prices has increased resulting in increasing of land and other building materials. An the increase in all these things causes the value of land to rise. Transportation and labor costs increase has caused an increase in the value of the real estate. Property agents, auctions and real estate websites, do marketing of any property making that property viewed by most people hence increase in demand. Real estate has been brought closer to many people and more easy and convenient to reach. The demand for the advertised property or land increases leading to an increase in the value of the ownership. Mortgage value contributes to an increase in real estate and ownership value. If the demand of the houses is low, the mortgage rate is reduced and the rent goes down.