Properties in established areas like Petaling Jaya, Cheras, Bangsar or Puchong are increasing in price but growing smaller in size— causing buyers to seek for second-tier locales for bigger and sounder purchases.
This was clearly exemplified in the recent PropertyGuru Sentiment Survey H1 2017 where 27 percent respondents were looking at buying properties in the outskirts of Selangor.
PropertyGuru Malaysia Country Manager Sheldon Fernandez said buyers are flocking to the suburbs in search of property as noticed in 2016 and 2017.
“This indicates the emergence of new property hotspots in the suburban areas of Selangor, which are between 20 to 40km from the city centre,” he elaborates.
No doubt Klang Valley still dominates the preference with 69 percent, but the trend to buy further from the city is becoming more prevalent and industry peers in support of this are voicing the idea for buyers to consider buying further from the city centre as they are relatively cheaper.
Image sourced from Sime Darby
The Rise of New Areas
Persatuan Perunding Hartanah Muslim Malaysia vice-president Aziz Ahmad quoted in the New Straits Times said secondary properties in suburban areas and new developments in the southern Greater Kuala Lumpur, such as Semenyih, Nilai and Salak Tinggi are still affordable.
Aziz shared that you can still buy a landed property, such as a double-storey terrace house measuring 20ft by 70ft, for below RM500,000. The same property in Kuala Lumpur will cost more than RM600,000.
“If you are buying to stay, you can also consider Bangi, Rawang, Puncak Alam or Ijok,” he said.
Aziz hinted that there were three mega government projects to look out for which would boost the property sector such as the KLIA Aeropolis, Malaysia Vision Valley (covering Seremban, Nilai, Port Dickson) and Cyberjaya City Centre.
Therefore, those looking to own affordable properties in the outskirts of the city, these are some options to consider:
Image sourced from Static.panoramio
Bigger and Inexpensive Houses for Families
Putra Heights in the district of Subang appeals to families and upgraders for being a conducive and family-oriented township. Moreover, there are ample of amenities from the surrounding matured neighbourhoods such as Subang Jaya and USJ.
Putra Heights boasts excellent connectivity via Elite Highway, Damansara-Puchong Highway, SKVE, NKVE and Kesas Highway.
Public transportation was enhanced with an LRT terminal station for Sri Petaling Line and Kelana Jaya Line offering cross-platform transfer between both dedicated lines.
Also with reputable educational institutions such as Kingsley International School, it is an advantage to reside in Putra Heights for having relatively cheaper and wider landed properties compared to its neighbours.
According to the PropertyGuru Property Market Index (PMI), property prices here have dipped 0.9 percent year-on-year (Q3 2016 to Q3 2017).
Sellers are beginning to lower down prices as there has been a quarter-on-quarter (Q2 2017 to Q3 2017) decline of 2.2 percent in asking prices.
Therefore, those seeking double storey terrace homes can consider houses with land areas of 22ft by 75ft and built-ups of 1,600sq ft to be pegged from RM600,000 onwards. These units come with four bedrooms and three bathrooms.
Hence, home seekers will be looking at forking out RM2,584 monthly repayments for the next 30 years.
Image sourced from Newskaki
Ideal Houses for Buyers Wanting to Live Near the City
First-time homebuyers should consider Selayang for its affordable properties that are close to the Kuala Lumpur City Centre with easy access via Jalan Ipoh, Jalan Kuching, Middle Ring Road 2, Lebuhraya Damansara Puchong and Kepong-Selayang Highway.
Located in the district of Gombak, properties in Selayang are witnessing value appreciations resulting from the ongoing rampant developments such as Selayang Star City and the iconic Selayang 18. Not to mention, studies to link Selayang via Mass Rapid Transit to the city are ongoing.
Moreover, the newer Bandar Baru Selayang township is giving Selayang a new facelift with contemporary lifestyle offerings; a break away from conventional housing areas.
Ample of natural attractions such as the Forest Research Institute Malaysia and matured amenities like Pasar Borong Selayang, Hospital Selayang, among others are already pushing values up as the PMI recorded a year-to-year growth (Q3 2016-Q3 2017) of 1.4 percent.
Additionally, the PMI showed a quarter-on-quarter appreciation as the index rose from 1 percent from Q2 2017 to Q3 2017 — indicating a slow but progressive growth and demand.
In the rise of modernisation, Selayang landed properties sized 22ft by 75ft and built-ups of 2,100sq ft are already fetching RM750,000. These units come with four bedrooms and three bathrooms and will cost monthly repayments of RM3,076 for the next 30 years.
Meanwhile, those looking for high-rise developments can expect newer properties to cost from a minimum of RM400,000 onwards. For instance, a 950sq ft unit with 3 bedrooms and 2 bathrooms will only cost RM1,681 monthly for repayments over the next 30 years.
Image sourced from Gamuda Land
Cheaper Landed Housing For All Walks of Life
Rawang also in the district of Gombak is booming with housing areas such as Bandar Country Homes, Bandar Tasik Puteri, Emerald West and Anggun Rawang, among others for first-time buyers or middle-income earners.
New upscale gated-and-guarded neighbourhoods also have emerged in recent years, with guard houses and perimeter fencing for added security and privacy tailored for upgraders or those looking for affordable lifestyle living.
Connectivity is no issue as infrastructure has been upgraded with the completion of the Guthrie Corridor Expressway, LATAR highway and the upcoming Rawang–Serendah bypass.
Furthermore, amenities are ample and conducive as Rawang is receiving a commercial and retail upgrade via The Two development, the largest mall in Malaysia.
Therefore, property seekers looking for affordable prices will benefit from the inexpensive pricing in Rawang as asking prices have been reducing recently.
According to the PMI, the index dropped 3.5 percent year-on-year (Q3 2016 to Q3 2017). Additionally, there has been a 1.3 percent reduction quarter on quarter, indicating sellers are lowering prices, making prices more inexpensive.
For instance, a two-storey terrace house sized 65ft by 70ft and built-ups of 1,885sq ft is priced at RM470,000. These units come with three bedrooms and two bathrooms and will cost monthly repayments of RM1,928 for the next 30 years.
Additionally, a three-storey property in an exclusive gated and guarded development with land sizes of 24ft by 80ft and built-ups of 1,540sq ft is priced at RM850,000. These units come with six bedrooms and five bathrooms and will cost monthly repayments of RM3,486 over the next 30 years.
Image sourced from Duke
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