Case Study: My Experience With Houses

Factors That Will Affect Real Estate and Property Values in Malaysia. The property and land value in Malaysia is rising. This is happening due to increasing in the economy of this country. The location of the property contributes most to its increase in value. If the land is close to a hospital, a school or a restaurant it will attract more people hence increase in price. Another important area is a shopping mall, a busy road or a temple, properties near this area are in high demand. Personal incomes have increased and people are more willing to invest in real estate. Individuals are willing to upgrade into bigger homes and the higher-income group to purchase more investment. The ability of people to buy land even when scarcity is there is referred to as supply and demand. Malaysia property value is increased by increase of the request and ability to buy when there is shortage of land. When the demand decreases, the value of the property falls. Malaysia has towns that are densely populated. A city like Penang is the second most densely populated with a population of 1,490 persons per square kilometer on average. This high population puts a lot of pressure on land use resulting to increase in property price. The cause of increase in land value is high number of tourists and retirees in Malaysia.
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In addition science of construction is affecting the value of property in Malaysia. It is very expensive to purchase properties near the water bodies. Feng Shi is trusted by most people for it is believed that things related to it come along with good health and happiness. People is putting into consideration the location of the real estate.
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Inflation is affecting the value of a real estate in Malaysia. Inflation entails rise and fall of the value of a property. The costs of a property or a real estate in Penang is increasing day after day. An increase in price of the cement means that even the prices of other construction materials and even land has increased. All this increase leads to an increase in the property value. Labor costs and transportation charges has contributed to an increase in value of real estate and property. The existences of property agents and auctions and real estate websites reduce the process of selling properties. Internet has made real estate and other property to be viewed by any people leading to an increase in demand and ultimately the costs. The demand for the advertised property or land increases leading to an increase in the value of the ownership. A mortgage rate is also another factor that influences the value of property. Lower housing demand leads to lower mortgage rates which help to improve the property housing thus reduce the rent.