Are you wondering what Malaysia’s household income level in your area of interest is?
In Malaysia, there is different range in household income level. Knowing Malaysian household income level can be estimated through value of properties. By knowing the average property prices and population, you can easily guess the household income level. It opens up new business opportunity as well as business expansion. Let’s take an example of Mont Kiara, the price of properties floating in between RM1-3 million and it is mostly crowded by the expatriates. Thus, it is definitely suitable to open branded and luxury amenities to suit the community needs. You can also take an example of inverse situation where you never setup a luxury shop but a money-friendly supermarket instead at the area with lower income crowd.
Besides that, if you are a serious property investor, the property valuation helps you to understand current value in an open and competitive real estate market. The understanding helps you to assess the risk before involve in any investment in Malaysia. You can easily estimate current and future market price by looking at the current trend. This will avoid you from undervalued your property and sell it below the market price. Subsequently, it also helps you to be a diligent investor by not buying any property that is overvalued over the market price. Did I miss the rental valuation? By knowing the market price, you can easily estimate how much you can earn from the rental, thus manage your financial better and improve your cash flow from rental as your passive income.
Let’s look on how SmartMap helps you on Malaysia household income level analysis.
What is the property valuation?
1. You may use radius search to identify affluent market. Plot the ring analysis marker and determine the radius you require on the area of interest.
2. SmartMap will generate three different rings and user may query on property valuation to identify the property price :
3. SmartMap will display the result; from there you can estimate the household income level and make your analysis. You may then decide whether to open a brandy outlet or economy friendly supermarket.
Market analysis on household income level is indeed important and crucial when it comes to deciding the type of industries you might begin apart of ensuring your target customers are able to reach you easily. SmartMap is able to assist you to gather the right information and data in short time and thus, quickly evaluates the best area of your interest to allocate your business.