People should buy properties within their budgets, as advised by Real Estate Housing Developers’ Association (REHDA) in a report by The Edge.
“Wanting to own a home in Kuala Lumpur city centre for less than RM500,000, that is not very realistic,” said REHDA President Datuk Seri FD Iskandar Mohamed Mansor during a presentation of its Property Industry Survey for 2H 2016 and Market Outlook for 1H 2017 on Wednesday (19 April).
The body’s first home buyer’s survey, which polled visitors to the recently held Mapex 2017, revealed that most respondents want to buy a property within the Kuala Lumpur city centre. This is followed by Petaling Jaya-Damansara, Cheras and Bangsar, Puchong and Shah Alam, and Cyberjaya.
Moreover, FD Iskandar noted that 82 percent of the 1,655 people surveyed are considering to purchase a house over the next six to 12 months.
“Their first property type choice is an apartment or condominium, followed by terraced homes, semi-detached, serviced apartment, bungalow and commercial shop lots.”
Over 80 percent said the primary objective of their property purchase is for their own occupancy and for their family, he said, adding that three percent of the respondents are tenants, six percent expatriates, 23 percent investors, 30 percent repeat buyers, while 38 percent consists of would-be first-time buyers.
In addition, the survey revealed that 29 percent of those polled have a monthly household income of between RM5,000 and RM10,000, while 43 percent have lower earnings. But around 73 percent are willing to spend RM300,000 to RM750,000 purchase this first houses, whereas 67 percent want home measuring between 800 sq ft and 1,500 sq ft.
Furthermore, the survey highlighted that accessibility is the top factors in buying a home. “Our respondents said the Light Rail Transit or Mass Rapid Transit (44 percent) and distance to a transportation hub (30 percent) are important considerations when it comes to buying a home,” said FD Iskandar.
“This is why we urged the government to allocate 40 percent to 50 percent of lands near to a transportation hub to build affordable homes because people who are looking to live in these homes are the ones who will use the public transportation (the most).”
“In KL, we have KTM, LRT, MRT and monorail. But if you keep on selling lands near them for top prices, (developers) cannot build affordable homes. It’s great to build transportation hubs. But we also must be certain that the right target market stays near to these transportation hubs,” he added.
Among affordable properties around are:
Rumah Selangorku CyberSouth, Dengkil
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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