2014 showed that developers are able to launch some affordable properties when the market needed them to. It is not true that property prices must always rise as per what happened from 2009 till 2012. In fact, some of the luxury ones are now in oversupply. My personal term for luxury are those above RM 1 million as well as small units above RM600,000. Seriously, if these prices are sustainable I think the market must be on an uptrend. Since it is not, we shall see how long these buyers’ holding powers are. When things get rough, only the richer ones can stay tough.
2015 is definitely a year of property affordability where primary ones are concerned. Instead of very special developments, instead of lower density and instead of just larger units, the new launches are alsmot always above 1,000 units in the whole project, very slightly smaller than 1,000sf or above it by a little and almost always priced below RM500,000 as its starting point, if not lower. The areas are definitely slightly further away but the advertisements would tout the MRT connections. The closer and the more stations nearby, the better the pricing would be. Frankly, are these worth a premium of 20% or higher? Really? My personal opinions here: The ‘Accessibility’ Popularity
Demand as usual remain strong and will be strong for years to come and every analyst or famous property gurus would tell you that. First-time home buyers are huge. Ask around your colleagues, how many have not yet bought one? Majority would answer you the same. Half would then tell you they are waiting and another half said it’s already too expensive. Both are reasons why if you are reading sufficiently and buy objectively, you would be within the top quartile of Malaysians who actually own a home to call their own.
According to Zerin Properties CEO Previndran Singhe in an online article, areas to watch out for within Greater KL are developments within proximity to MRT stations, LRT 3 stations and new highways namely Damansara-Shah Alam Expressway (DASH), Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), the proposed Kinrara-Damansara Expressway (KIDEX) as well as the KL Monorail extension. Places to invest in would be Sungai Buloh, Kota Damansara, Taman Tun Dr Ismail, Damansara Heights, Kajang, Cheras, Old Klang Road (near KL Monorail extension) and Bandar Utama, Shah Alam and Klang (proximity to LRT 3 stations).
If you now want to know which is the best area to buy out of the above suggested ones, you think too much. He has done the homework for us. Just search out a few areas whom you know slightly more and view properties there. If you can afford one, buy one. Some of these areas remain affordable but please check out whether they are flood prone or not. Chances are these floods would get worse over the years instead of getting better. The message is clear; populations are ready to buy homes and urbanisation is continuing plus the first-time home buyers are a huge group moving forward. Question is always when to buy, where to buy and what to buy. Answer has to be found in you.
written on 26 Jan 2015
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