By Farah Wahida:
Spurred by robust demand from investors and home buyers, prices of residential properties in Selangor are on the rise.
“The strong demand by property investors drove the prices of houses in Selangor up,” said Chief Minister Tan Sri Abdul Khalid Ibrahim. He said this after officiating a feedback workshop on the state’s land management policies for 2008 to 2012, an event organised by the Selangor Land and Mines Department.
He pointed out that prices of residential properties in Selangor have spiralled, with a three-bedroom apartment in Shah Alam now costing over RM200,000, while prices of bungalows have gone beyond RM1.5 million.
Consequently, the state government plans to use prefabricated construction method to reduce home prices to about RM150,000 per unit.
However, the state government is still studying the method, which is being used in Australia and in the UK, before it gets implemented, he added.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email firstname.lastname@example.org