【Viewing the Market】Engineer Develops Real Estate Data Platform - Analyze Before Buying to Avoid Sales Traps

(Kuala Lumpur, 26th) In the past, most people relied on developers or property agents' sales pitches to make real estate investment decisions. Now, with the rise of new technologies such as artificial intelligence, buyers can leverage property data analysis tools to easily filter out ideal projects and avoid pitfalls.

Chong Wei Jie, founder and CEO of the property big data analysis platform PropertyLab, pointed out that while sales pitches may deceive, data does not. By understanding key information such as market price, rental trends, and cash flow, one can make rational decisions.

He said that in the past, many investors realized the importance of data but did not know where to obtain it. Additionally, the information was too professional and difficult to understand. Therefore, an easy-to-use data analysis tool is what investors need.

"Previously, when I bought a house, I had to do all the research myself, browse many websites, attend classes, and read property books. Deep down, I wished for a software that could do all the analysis for me. That’s why I created PropertyLab, using my practical experience and AI tools to help other investors."

Chong, now 37, is a chemical engineer and had accumulated 15 properties two years ago. Through his home buying process, he deeply understood the pain points for salaried workers, so in 2023, he partnered with a tech colleague and used data-driven methods such as Six Sigma and statistical modeling to develop PropertyLab, helping investors more effectively evaluate property projects with data.

The platform has multiple intelligent features, including property analysis, pre-filtered listings, landlord management tools, bulk purchase discounts, online courses, and community support.

For example, when analyzing a project, you can use the "smart map" function; after entering basic details, all nearby project information can be grasped in just three seconds, including market price comparison, rental analysis, new nearby projects, and living convenience evaluation.

He said that the platform can also calculate the true profit for investors when renting out units, factoring in hidden costs such as cleaning fees, internet, electricity, and management fees, preventing investors from unknowingly making loss-making decisions.

In 2024, he participated in the MyStartup Accelerator Program and successfully made it into the top 10 with PropertyLab. Last year, he also received a RM100,000 grant from Cradle Fund’s CIP Spark program. His belief in "data-driven home buying" was recognized by the government.

Currently, he has multiple roles as a salaried employee, investor, landlord, and startup founder. In the coming year, he will focus on the startup business, enhance the company's valuation, and hopes to facilitate mergers and acquisitions at the right time.

He also encourages young Chinese Malaysians to fully utilize government startup funding, boldly embrace technological trends, and strive for both career and financial freedom.

The Johor Bahru property market has become the nation’s investment focus due to the Singapore-Johor Bahru Rapid Transit System (RTS), driving up demand. Industry insiders are optimistic about the Johor Bahru market for the next few years but remind short-term investors to still plan exit strategies.

Chong Wei Jie, founder and CEO of the property big data analysis platform PropertyLab, pointed out that over the past 3 years, house prices near the Sultan Iskandar Building (CIQ) have surged from RM600–700 per square foot to over RM1,100.

In an interview with Bernama, he said many people worry whether the property market around CIQ is overheating or will face oversupply. However, big data analysis indicates that rents in the area have also increased simultaneously, showing that the market still has strong absorption capacity.

He said, RTS greatly shortens commute times, attracting Malaysians earning Singapore dollars and Singaporeans who are willing to buy properties in Johor Bahru, whether for investment or as a weekend home.

"People always need a place to live. Where will high-income groups congregate? Take KLCC in Kuala Lumpur as an example; property there is expensive but new projects are constantly being launched. The key is whether demand can absorb supply, and RTS is the key factor for Johor Bahru to replicate KLCC's prosperity."

"When investing in Johor real estate, look at it from the perspective of Singaporeans. If they come to invest in Malaysia, they will prioritize condominiums and landed terrace houses near RTS stations. These two types of properties have the most stable market demand."

He further analyzed that apart from the RTS catalyst, reputable developers are also building high-end communities near CIQ, including luxury shopping malls and hospitals, which will enhance living convenience and property value, and drive Johor Bahru's development potential.

Chong Wei Jie pointed out that the coming year is still a golden period for investing in Johor Bahru property. He believes that once RTS is completed and in operation, property prices and rents are expected to surge again.

However, he reminds short-term investors that they must have an exit plan, because once the property buying frenzy fades, prices may struggle to climb further and could even decline.

He believes the best exit time for short-term investors is two to three years after RTS operation starts, as most buyers with purchasing needs will have already bought by then and market demand will gradually weaken.