10 Things You Need to Concern When Purchasing Property in Malaysia
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10. Landscape
It is important to have well kept landscaping for landed property in Malaysia. There are times where the community in the gated guarded community with bad maintenance of the property and the landscape will affect the price and environment of the area. As for non-landed property, the maintenance of the building as well as the landscaping by the management is same important. The lifestyle of community living in a condominium or area will decide the value of the property by judging on the maintenance and social behavior.
9. No unplanned vacant land around
Buyer should be concern or alert to do some research in the vicnity of the property to find out if there is any future construction plan will affect any road access or the view of the property. If there is no plan for the vacant land, it is advice to be best stay away.
8. Gated or guarded community
Previous generations used to aspire to owning bungalows, a house in the middle of a big piece of land.
Today though, those properties are much lesser in demand while he sees a rise in either condominiums or gated communities, which mostly have smaller plots of land, but with bigger build-ups. So gated guarded property is less demand for upcoming market trend due to the safety and security mentality for the buyer.
7. Near international or high-performing Chinese schools
Chinese school in the neighbourhood adds “huge value” to properties nearby. For example, a Chinese school that has relocated to a new development that his company has recently launched in Cyberjaya has been its “biggest selling point.”
More non-Chinese families are also looking to move closer to these vernacular schools.
People want to be nearer to schools not only because they want to send their children there, but also to have a good support system among parents.
6. Who are your neighbours?
Neighbouring township is an important consideration when buying a home. “Why Cyberjaya can work, it’s because it is next to Putrajaya. Why PJ can work because the neighbour is KL and why Iskandar Malaysia can work because the neighbour is Singapore.
“In that sense, the neighbour does play a part because you want to have the best of both worlds. Perhaps lower expenses on one side and high income on the other side,” he said.
Just as important, find out the racial composition as well as the job backgrounds of your neighbours, he added.
Whether you prefer a culturally mixed neighbourhood, or one that speaks only a particular language, or what kind of jobs your neighbours do, and if they are mostly tenants or owners… you need to do your homework.
5. Population growth
It is important to observe if the population trend in the area is on an upward trend.
“At the end of the day, real estate is meant for human consumption. So the bigger the population, the higher chance of you getting a better return from your property investment,” . With a bigger population, there will also be better supply services such as hypermarkets, clinics, laundry services and restaurants.
4. Central location or Convenient location
You don’t need to be a rocket scientist to figure out that the more centrally located a piece of property is, the higher in demand it is.The trend has shifted and condominium units attached to malls are back in demand again because people want that sort of convenience.
“When you have strata properties on top of shops, those used to be cheap properties, you can see some in Chow Kit, Bukit Bintang... people didn’t want to stay in that kind of environment,” he noted.
The trend is back and is especially popular among the younger crowd who are looking for smaller units, about 1,000 square feet or studio sizes.
3. Infrastructure/connectivity
The real estate negotiator said connectivity is extremely important as more people move further away from central locations. People are moving to townships like Cyberjaya and Setia Alam because of the highways that now connect to the city.
Most people do not want their homes to be too close to business activities but they do not want it to be too far away either, because they need the supply and services to be close.
People are willing to accept if their workplaces are slightly further away, as long as they are well connected by highways or LRT, MRT stops.
2. Reputable developer
It is extremely important to buy from developers with a good track record and a practice of delivering on time with quality.
“It also must have a good following and someone who does not price their products to the maximum and allow for reasonable returns,”
1. Location branding
Branding of location can change, driven by “visionary developers” or plans.“For example Sentul, many years ago, when we talk about Sentul, we have a certain perception about it. YTL changed the perception of that area and for all intents and purposes, Sentul is very arty farty now because of KLPAC, and it’s actually a very nice location because it is very close to the centre of action,”.
Special thanks to the sources from themalaymailonline.com
