9 Truly Malaysian Things That Affect Property Prices

9 Truly Malaysian Things That Affect Property Prices

We trawled through to find what some of the interesting truly Malaysian stuff that affects property prices.

1. “Got angmoh or not?”

Effect on property price: Increase

Why: If got angmoh means expat salary, got expat salary means can afford expensive property, so property prices go up!

If we know that a certain location is an expat hotspot, we know we’ll probably have to pay through our noses for real estate there. For example, Mont Kiara, it is very densely populated, almost entirely by expats.

One discussion board user shared that her aunt bought a condo unit for RM800,000 many years ago. Now each unit is more than a million ringgit. We found that some condo units could go for RM2,300 to RM13,000 a month for rental. So unbelievable, you can buy two second hand Kancils for that price! That becomes the perceived value of the place hence said property value would also rise up.

2. Because of 6%

Effect on property price: Rises

Why: Because got tax mah, sure price increases!

We’re pretty sure we are very familiar with GST. We are expected to be affected on many things as well as property prices since its introduction on 1st of April. Residential property may be ‘exempt-rated’. Developers may not bill home buyers for GST but they could transfer the costs on the sale price itself.

Good news is old house prices not expected to increase because of GST. Sadly, GST is expected into maintenance fees for high rise properties. According to the Building Managers Association of Malaysia (BMAM) President Tan Sri Eddy Chen, owners could be looking at a 10% increase or more on that.

GST so boring, let’s move on to other things.

3. “Got people die there or not?”

Effect on property price: Drops

Why: Who the heck wants to live in an ex-murder scene?! Plus, ada toyol/syaitan/hantu!

Although for some consider toyols to be a good thing to keep, others are still a little more apprehensive of the supernatural. We’ve watched enough of horror movie like Ju On to wet our beds at night.

If the building has stories about suicides, your property surely cialat already. Then follow by second death, people guarantee will start saying stuff like, “Eh~ that building haunted leh!!!” Stories sometimes will follow by warnings against being on certain floors.

We also found in PropSocial discussion, which highlighted several haunted spots such as Flora Damansara, BRDB Verdana, etc. It also reminded us about the frightful Mont Kiara Murder, 11 body parts of an adult guy discovered by the unit’s new owners and a security guard? Ahh, the nightmares.

4. “Got KTM/LRT/MRT?”

Effect on property price: Increase

Why: Having a public transport hub or station makes travelling very convenient.

We have the third highest car ownership in the world, according to the Nielsen Global Survey of Automotive Demand. So like that always cannot find parking, double parking, road drama, etc. Aiyo…

However, the point is, any means of convenient will be cherished like a first-born son. So, property close to any public transport hub is definitely On.

5. Upcoming shopping malls

Effect on property price: Increase

Why: Totes yo! Got shopping mall, property locations become hotter for sure.

Malaysians LOVE shopping. It’s the spot to see and be seen, spend time with companions, watch movies, eat, and obviously, purchase stuff. Our nation has in truth been cast a ballot the fourth top shopping destination on the planet by CNN Travel. Perhaps this is on the grounds that our shopping centers are regularly marked down – Year End Sale, Hari Raya Sale, CNY Sale, 1Malaysia Mega Sale Carnival, and so on.

Not exclusively are shopping centers an asylum for business and buyer culture, yet it can truly change a region. Like as far back as Pavilion was administered, the estimation of properties within the region has expanded three to multiple times and it likewise affected others to update their properties, as per Joyce Yap, Kuala Lumpur BBKLCC Tourism Association Chairman.

That is the reason shopping centers are constantly being created. In Klang Valley alone, there’s Atria, Sunway Velocity and more, coming up. We’ve since quite a while ago perceived the significance of shopping to drive the economy and the travel industry area.

Moreover, on the off chance that you meet individuals at a shopping center close to your home, they will never consider you the ‘on-the-way’ feller again.

6. “Can see KLCC or not?”

Effect on property price: Increase

Why: KLCC view implies your property is close enough to the City Center to be super costly.

In contrast to Paris, where it appears, the Eiffel Tower is obvious from each window. Our magnificent KLCC Twin Towers isn’t in every case right smacks in our countenances. In it is, we envision you’d be rich enough to bear the cost of it, so every morning when you open your window and see the Towers, it makes you need to sing and colorful birds need to chime in with you. Plus, you can jual mahal.

So how costly is ‘Binjai-Park-costly’? All things considered, one rich purchaser purchased the triplex penthouse there for RM38 million. THAT IS RM2,660 per sq. ft.!

7. “House number got ‘4’ or ’13’ or not?”

Effect on property price: Decrease

Why: Very SUEH eh!

To the Chinese, 4 are an unfortunate number in light of the fact that the word sounds like ‘die’. That is the reason no.4 is frequently supplanted with 3A, which you can see on lift catches and building floors (Level 3 > 3A > 5).

In Indian culture, 8 are the unfortunate number, so in case you’re pitching property to a Chinese or Indian purchaser, don’t la demonstrate to them a #4 or #8 units. Concerning the number of 13, it’s viewed as unfortunate in certain nations, except for Italy where it’s viewed as good karma.

In any case, numbers aren’t the main thing that can influence a property’s estimation. Like we stated, Malaysians are superstitious, so you gotta ensure the property isn’t triangular, doesn’t confront a burial ground (or you’ll get the night guest), doesn’t confront a mountain (speaks to hinder in your life).

8. “Got universities ke?”

Effect on property price: Increase

Why: Investors will buy property to rent out to students.

Close-by colleges, universities or schools make a wellspring of salary for the general population and organizations within the region. For property financial specialists explicitly, they will need to purchase houses or condo units to lease to students. There will dependably be a constant flow of inhabitants and proprietors don’t need to go searching for them.

Let’s see, for example, SS15 zone where there’re Taylor’s, Inti and Metropolitan College – you can see ‘room for rent’ signs holding tight on the house entryways. Actually, property in SS15 has expanded in an incentive throughout the years, as MAD!

9. “Was it a mining pool before?”

Effect on property price: Depends

Why: It may be dangerous, but depends on the sustain build

The enthusiasm for utilizing ex-digging pools for amusement spots, lodging domains and even agribusiness, was accounted for as ahead of schedule as 1988 on New Straits Times. However, individuals are stressed there may be sinkholes. Hello, it could occur, as observed by Kampung Pengkalan Gate Tambahan 2residents. Three houses were harmed as sinkholes showed up in the previous tin-mining neighborhood.

Initially, properties in Bandar Sunway was sold shabby on the grounds that they were based on ex-mining land. Individuals were anxious about the possibility that the sinkholes would show up and gobble their homes up. However, as more individuals moved in with no untoward episodes, engineers started building progressively upmarket homes. Take a gander at Bandar Sunway today – it’s so clogged (and costly!) that you’d be sufficiently fortunate to discover a parking garage to snatch dinner!


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