By Farah Wahida:
Despite their high prices, demand for well-located residential properties is expected to be strong, especially for units near the upcoming mass rapid transport (MRT) system.
Over at The Effingham project by See Hoy Chan Holdings, 75 of the 90 zero lot houses were sold on a build-and-sell basis. Located at Damansara in Petaling Jaya, the units saw good take-up despite the impending construction of an MRT line parallel to Persiaran Surian.
The project is bordered by Persiaran Surian, Persiaran Bukit Utama and Tengkat Bandar Utama, while the recently launched phase I will be closest to the MRT line.
“It will be about 70 ft away. MRT Corp said they are going to do some sound insulation,” said Datuk Teo Chiang Kok, Group Director of See Hoy Chan Holdings.
Built-up areas of the units range from 5,600 sq ft to 12,700 sq ft, or about RM1,100 psf, while prices range between RM5 million and RM9.7 million. Sales of the remaining units are awaiting loan approvals.
Overall, the 31-acre project will comprise 212 units when completed, and the later units will be located farther from the MRT line, but these will come with a higher price.
Meanwhile, half of the 154 units at TTDI Ascencia in Taman Tun Dr Ismail were taken-up despite its huge price tag of RM1,000 psf. This is because the serviced apartment will be built on commercial land, hence, utilities and assessment rates will be 25 percent to 30 percent higher.
Notably, it will be situated adjacent to the TTDI MRT station and will sit on a land area of less than one acre. Build-up areas range from 500 sq ft to slightly more than 2,000 sq ft. All the small units have been purchased, barring any cancellations due to loan issues.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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