Tey Yong Qing Explains Recovery of Malaysian Real Estate Sector

 




Inflation comes with difficulty. It affects every sector. The Malaysian real estate industry has seen the effects of inflation.

The price of properties has depreciated, buyers are scarce, and sellers are not selling well. Inflation does not mean an increase in the income of Malaysian citizens. This is the main reason demands for properties have declined. Whereas, there is an increase in the price of materials used to build properties.


The Growth and Development of The Malaysian Real Estate Sector

It is not only the real estate that suffers. Prices of commodities, natural resources, and other goods have gone up. If these products don't have high prices, inflation would not be as high. Since other sectors are facing high price rates, the economy is affected. People can no longer shop as they want and they don't even think of buying houses.


The economy is coming up gradually. Some developers take advantage of this to increase housing prices. It is believed some of them do so to balance the expensive cost of building materials. There is the problem of oversupply of goods and understanding for goods.


According to real estate agent Tey Yong Qing, the new budget didn't include investment plans. The budget only lowered the tax imposed on property sales and nothing more. There are thousands of housing units waiting for buyers to acquire them. If nobody is ready to buy them, it will be a loss to the sellers or developers.

It was not stated how the industry can attract local and international investors. Leasing agent and property manager Tey Yong Qing has worked for more than eight years. He is a licensed agent and has worked with lots of clients. He is not sure how the Malaysian economy will be revived.

Future infrastructural developments were not included to boost the economy.

The real estate industry will have to make do with existing infrastructures to aid their growth. There is little hope because the people show a lack of interest in buying properties last year.

Yet, experts believed that things will change in the coming months. It has been estimated that the rate of buyers will increase before the end of 2022.


Housing prices are not helping the recovery of the Malaysian real estate industry. It will be a rough growth rate.

If the prices of building materials come down, then housing rates will become affordable.

Also, the pandemic is still out there which has put a strain on some things. 



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