Factors To Consider When Owning A Property
Before we settle in buying or selling a property we have factors to consider because owning a property is an investment. Aside from that, you will be exerting effort, consuming time, and spending money. It is a big decision to make because you wouldn’t want all of it to be wasted. We will be giving you factors that may help you decide why to buy or sell properties in Malaysia.
Check out this interesting video on how property can help you to get rich:
Settlement in Rural
There is about a quarter of Malaysia’s population resides in rural areas. Both in East and Peninsular Malaysia has common unit called kampung meaning villages, or community of houses. Houses in Peninsular Malaysia are made of wood and built on stilts. Some houses are made of Nipa palm, a type also that used for basketry). Corrugated roof of metal is common during their 21st Century. Houses are surrounded by fruit trees like banana, papaya and coconut palms. There are four types of Malay in the rural. The Fishing villages, Irrigated Villages, Cash-Crop Villages, and Mixed-crop Villages.
Most people are composed of those who settled early in the 19th century. Mining camps settlement were the first immigrants. This was established by Chinese, and some grown into large town but others remained small, especially in the Kinta River Valley. In the mid-1800s, Peninsular Malaysia changed face. They started introducing Agriculture, cultivation of rubber, and oil palm trees. After which there comes the plantation settlement. This are buildings such as factory and storehouse, quarters and manager’s house. Workers of the factories were from southern India. For that reason, the plantation housing was largely occupied by Indian Malaysians. The government established a relocation settlement for the Chinese during Malayan Emergency.
They were called the new villages in Peninsular Malaysia. There were conflicts during those days, like World War II, other new villages were abandoned but mostly permanently settled. There was a time that the place must be cleared for the plantation of rubber trees and oil palms, the poor Malays were relocated in the forest area. There were thousands of people have been relocated. Most of the people of Malaysia still choose to settle in rural areas, because they encounter a variety of settlement types.
This shows that Malaysia has ethnic diversity and mixture of immigrants who settled in the rural areas. In the foothill country, mountains and coastal low land, there are scattered Non-Malay ethnic groups. You can see traditional longhouse, which is raised on piles and has several rooms known as bilik. Each room has a family. It grows long because of related families up to twelve dozen of rooms. As generations passed, a lot have left the tradition and move to a single-family. Though in someplace like Sarawak, they have chosen to still live in longhouses with an upgraded design.
Their economy was based on agriculture and fishing. People of East Malaysia live in the middle of coconut palms, mangroves or other swamp trees. Houses are made of stilts. While the rural Chinese on the other hand, live on the roadside. Houses were built at ground level and easily distinguished from indigenous people.
Settlement in Urban
Along the west side of the Peninsula, there are cities and large towns built up during colonial and post-colonial periods. This is mainly distributed in the tin and rubber belt. The city has mining, manufacturing and industry, trade, and administrative functions. Towns are either located on the riverine sites or inland areas that are on the road, rail and air transport. The best properties around urban areas are G Residen, Seni Mont Kiara and Pantai HillPark.
Towns in peninsular Malaysia were mostly unplanned. Since the 1970s when they built urbanization in Peninsular Malaysia. Urban land has a lot of purpose and building has multiple utilization. Streets that were built widely are now narrow and congested. Kuala Lumpur is the central business unit. The place is populated, usually traffic and high land cost. There are many shopping malls, banking, insurance, entertainment, and other progressive infrastructure. Sarawak and Sabah’s urbanization were fast. Kuching, Miri, and Sibu in Sarawak and Kota Kinabalu, Sandakan, and Tawau in Sabah were the largest towns in Peninsular Malaysia. You can find a large town in Coastal areas or riverine sites.
The economy in Malaysia has become the strongest, most diversified and fastest-growing one in Southeast Asia. It started in 1970 by exporting raw material such as tin and rubber. They have become the major producer of rubber and palm oil. They export petroleum and natural gas. Malaysia has been considered the world’s largest source of commercial hardwoods.
Malaysia’s economic growth was fueled by exportation. Japan and Taiwan were two of their foreign investors. Attracted by a developed infrastructure, educated labor force, political stability, and an undervalued currency. Early in1970s, they have established a goal to have a balance between economic growth and the redistribution of wealth. The government has achieved a social and economic restructuring strategy that was known as the New Development Policy (NDP). One of the objectives of the NDP is to give Malays and other indigenous groups with a much better prospect in their economic opportunities and to help in the development of their entrepreneurial skills.
In the restructuring process, the private sector has a greater role and was encouraged because of the economic policy. The policy included privatization of many public sector activities which is composed of the national railway, airline, automobile manufacturer, telecommunications and electricity companies.
Malaysian Economy (Agriculture, forestry, and fishing)
In the early 21st century, the gross domestic product (GDP) of Malaysia substantially decreased from one third to less than one-tenth because of Agriculture, forestry, and fishing. The trend has continued to decline even the labor force engaged in agriculture. On a small farm, they plant rice which is their main food crop. At the time of the Green Revolution during the 1960s and 70’s, though there was already improved plant chemical fertilizer and pesticides their rice production continues to decrease.
This was due to the change in weather and loss of farm labor and shifted to urban manufacturing jobs. Malaysia makes up for this continues decreasing economy by importing from Thailand. They implement programs of group farming schemes to raise insufficiency in rice. After this program, there were 2000 production rises, despite labor shortage.
The dominant cash crops are rubber and palm oil. Rubber is one of their exports remains important and tied up to domestic manufacturing. Malaysia becomes the top world producer of Palm oil in the early 21st century. Cash crops they are producing include cocoa, pepper, coffee, tea, various fruits, and coconuts.
In East Malaysia, there was a time of deforestation because of agriculture and logging. It has been important to Malaysia to remain to log, such as the manufacture of plywood and furniture. The fish of Malaysia were from the shallow seas and coastal. It was improved and expanded in the 1970’s they added mechanized fishing boas and trawler. There was an increase in the supply of fish. With this, the government promoted deep-sea fishing and aquaculture production which is one-tenth of Malaysia’s fish.
Resources and power
The portion of GDP that significantly increases the economy of Malaysia is there mineral resources and mining. Tin, copper, and iron are the major metallic ores.
Due to fluctuating demand in the World Tin market, Tin significantly decreases. Malaysia was still the top world supplier of tin. In the 20th century, there was a rapid decrease of minerals. Petroleum and natural gas were its most valuable resources. In energy production, Malaysia is self-sufficient while petroleum was the major energy source for power generation.
In the urban areas, they are using bottled gas and commonly were domestic fuel which is wood and charcoal. Hydroelectric Plant powered the small area of Malaysia, mostly on the peninsula. There are places in the Peninsula and East Malaysia that has a potential for hydroelectric development. The country also starts producing biofuel based on palm oil.
In the 1970s, manufacturing expanded with the aim of producing goods for export. Manufacturing has one-third of share in the economic growth of Malaysia. As a result, they were able to employ more of the workforce than agriculture and mining. The bulk of manufacturing output is in the hand of the urban area of Kuala Lumpur. Manufactured export was promoted by means of strategy establishing a free trade zone.
This provides duty-free access to imported raw materials. They also put up manufacturing in the less developed part of the country to give jobs to those people living nearby. They are trying to balance industrial growth in every part of the country.
The above mentioned were information and details about Malaysia. You may want to buy a house in a rural or urban area. You may also try to invest in owning land and produce agricultural products. Manufacturing is a big investment that requires a lot of money, time and effort. You will be managing a lot of people and buying equipment.
Whatever you end up wanting to buy or sell just make sure that it will be a sound decision you will make. Seek professional advice for you have guidance in every decision you’ll make. Your main objective is for you to have a return on investment and earn profits. Your earnings can be in your savings or investing it again.