Guide to Properties that Command Higher Prices in Malaysia
Location is a very important factor when looking for any real estate property since it will dictate the value of that property in the eye of potential clients or a promising resident. It is true in Malaysia as for any other country in the world. Since properties located near a school, a shopping mall, hospital, airport, and any places that provide convenience and safety to people, are very attractive to people, most property owners will command a higher price for these properties. This shows that the economic principle of demand and scarcity in the real estate is just as operative as any consumer appraisal similar to any kind of commodities. The property values will be driven up by the condition of high demand coupled with a certain purchasing power and a short supply due to the scarcity of land that is near those community establishments that every resident wants to have a privilege of. In much the same way, the values of properties will decline if there is not much demand for the place because people want something in a locations with more amenities and conveniences. Real estate really works this way.
Since Malaysia is already becoming densely populated, it puts a lot of pressure on the land use with so many people wanting to live there, and so property prices are every increasing for developers. And that is the reason why instead of building single homes with sprawling gardens, developers are not into building high-rise apartments, condos and the like. And, it not only enables the developer to utilize every inch of expensive land that it can take advantage of, at the same time, allowing more residence to take advantage to reside in a more preferred location.
When you are new in Malaysia and you want to invest in real estate property or venture into a property developing here, it would be well to know that ancient architectural design also plays a significant part when it comes to property value. If you build homes that embody the vastu shastra and the feng shui customs and traditions, then this would command a greater asking price than when there sacred bodies of knowledge which connect the humans and their habitat are obviously ignored. This is very much a part of Malaysian economic principle of supply and demand. Another consideration is a place near a body of water. These types of properties command higher prices in Malaysia than when they are not near one. Building a property facing a road junction or a property on a dead end street will not be given much value by the people compared to a property in the same area which does not have these conditions.Properties: 10 Mistakes that Most People Make