Overwhelming response! Two carparks side by side. Cool.

Just weeks ago, a friend who’s always negative about Malaysia asked me this question. “The economy of Malaysia is so bad. I wonder if all these news about projects being sold out in one day is true at all?” Let’s not even comment about what is a bad economic situation and what is great economic situation. Let’s look at just the employment numbers. IF people have a job, they need a home. IF they move to KL from a smaller town or village, they need a home. IF they start a family, they need a home. IF the country has a young population, they ultimately would need a home when they need a home. All these situations assume they continue to have a job which pays them enough salary. So, are we (Malaysia) really that bad? Remember, take actions based on what we believe in. Please do not touch property because this is a very illiquid asset and we will face huge issues to dispose it should a crisis comes tomorrow. A call to the broker to sell the shares we own is a few seconds. Selling a property would likely take weeks or months. This brings us to another ‘overwhelming demand’ article in PTLM. 

Some facts from the article. The Hamstead at Desa Tun Razak, Cheras. It said that the developer is Ujana Mutiara Sdn Bhd, a member of the Aset Kayamas group of companies. The development is built on a 1.87 acre land. It is a single-block 40-storey tall leasehold development and this is inclusive of a 8-storey car park podium. It is HDA compliance and total units would be 479. The unit built-up sizes are Type A/A1: 945 sq ft; Type A2/A3: 1,127 sq ft; and Type A4: 1,272 sq ft. Majority of units are of Type A/A1, which is a 3 bedroom 2 bath, with each unit given 2 side-by-side parking bay. The nett price starts from RM358,000 and free legal fees for SPA and loan agreement. Right beside it would be another RUMAWIP (mampu milik) block with separated entrance and common areas with 463 units.  There are 16 units per floor served by 5 lifts, offering 21 lifestyle facilities and a 4-tier security. Connections wise, The Hamstead is approximately 6-minute walking distance away to Bandar Tasik Selatan’s Terminal Bersepadu Selatan (TBS) which integrates LRT, KTM and ERL train services as well as buses and taxis. Full article with photos here. 
Well as they say, bad times are good times to buy and good times are bad times to buy. For those who believe good deals will appear during good times, do understand that this is just a dream. If we own a company today, when the business is good, we are not going to reduce the price of our products. Then again, buying during good times may also mean the opportunity to flip for a good return within a shorter period of time? Haha. Buy within affordability and buy when we need it. If we always do this, our purchase should be termed an investment and it should provide us good returns in the future. Regardless of bad, good or awesome times, have a home to stay which we call our own. It’s a good feeling when we walk into that placer the very first time. I could still remember how I slowly touch the wall of my first apartment of 730 sq ft and feeling so proud of myself. Happy buying and staying.
written on 8 April 2017
Next suggested article: Demographics Malaysia and property demand