How Does Your House Location Affect It’s Value?
Having your own property is a very sensitive and crucial matter for almost everyone these days. a survey conducted by the association of Real Estate and Housing Developers’ in Rehda, Malaysia on over half the population of the country has revealed that most of them desire to have their own home.
According to a poll conducted by the same association, 56% out of 1650 respondents were curious to own a home in the Kuala Lumpur city centre area and within the area of KLCC.
It is surprising to note that while purchasing a home location plays an important role for everyone. This fact was proved by another survey conduct by a different entity this time, a portal of PropertyGuru. The results of this survey revealed that the Malaysians who are searching to buy their first home normally consider the size of property and safety more important than the price of the property. However the importance of the criteria of the location cannot be ignored in any condition.
According to the reports of another sentiment survey conducted by the Malaysia Property Market on 1013 respondents, 98% of them were of the view that the security of the property comes after its location whereas 73% voted for the size of the property and 84% for the safety of the property. In this way on the list of 18 factors these three factors appeared to be the most important factors in this survey.
So, you can get few reasons to continue your search for a strategically located home, if you are trying to buy your first property. Let us base our case study on Sentul region.
Favourable appreciation of value of your property
As a first time buyer of a home as well as an investor let us consider this point at the first place. In fact it is not possible for anyone to have the detailed information of the movement of prices of all properties in any location. So for this reason you can use the trends and the data available publicly to calculate the approximate value of a property.
So, if you are searching a property in Sentul situated in the north of Kuala Lumpur, the capital city of Malaysia, then you can find high yielding and expensive properties only.
In order to understand this point more clearly let us have a look on the information provided in the Global Property Guide. According to this guide, in the third quarter of 2016 the national price index of the houses in Malaysia increased by 5.35% on yearly basis after adjusting inflation of 3.81%.
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On the basis of the figures provided by the Valuation and Property Services Department Selangor and Kuala Lumpur were out of the six states which have charted a high increase in annual price of property i.e. 7.5% and 5.1% respectively.
If RM 772,126 is the average price of house in the third quarter of 2016, then the housing in Kuala Lumpur can be the most expensive in Malaysia.