Tey Yong Qing

  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 ...

  There is a need to get bigger houses because of new building trends. Building in suburban areas is the norm according to a licensed real estate agent, Tey Yong Qing. He has been a property manager and leasing agent for more than eight years. The pandemic caused many people to need bigger space. Real estate agents, brokers, and sellers had to change their strategies. The old method and old models were no longer working. Buyers’ tastes have gradually changed. They want enough space to play, work, rest, and entertain. They want their houses to be equipped with the essentials. How Money Will Influence Real Estate According to Tey Yong Qing Price Hike: There is an expected price increase in the sales of houses and properties.  Tey Yong Qing  speculates at least a 4% increase. Initially, prices were determined by those who built and developed the properties. This made buyers lose interest in buying properties. It is especially difficult for low-income earners to afford houses...

  The COVID pandemic has driven many to work from home. Businesses closed down, people lost their jobs. Most operate their business from home which has now become the norm. The real estate industry has changed too. Tey Yong Qing, a property manager, and real estate agent elaborates on the effect of COVID on real estate. The steps to take to purchase a new home are different from before. This article brings to light the changes that have occurred in real estate due to COVID. Tey Yong Qing Explains Effects of COVID on Real Estate Housing Problem: COVID has made a   significant impact on real estate. Due to the stay-at-home regulations, few people were interested in purchasing new houses. Buyers couldn’t go out to check out the properties listed for purchase. They needed to observe the health and safety guidelines. Hence, the demand for new homes declined. Some sellers didn’t want to sell their houses to the buyers. The hesitation of house owners to list their homes made it diffi...

  Now is the time for investors and homebuyers to start buying the property because property prices are expected to rise this coming year. The increasing costs of building materials in most building categories are mainly what will contribute to the rise in property prices as this will have to affect the selling prices of property. When there is an increase in costs of construction or material it will always affect the selling price. The developer will have to include the cost one way or the other to respect buyers or consumers. What Is The Implication of This In The Market? Both the  p rimary and secondary markets will have to react when there are any changes in demand or the value of a property. This implies that we should anticipate a gradual increase in the prices of property with the rising costs of construction or material. Based on the data from the department of statistics Malaysia as of October 2021, the building material cost index with or without steel bars had incre...