Residential property Kuala Lumpur
Image via WikipediaWhere to buy your house and enjoy your life in Kuala Lumpur
A photo from Malaysianpropertyblogspot.com of a proposed house in Bukit Jelutong area as stumbled.
Most people’s buying preference in property to live in isn’t only location but also the designs, building materials, the advantage of area in the hierarchy of social standing, the security and probably many more, but the most consequential preference is the price of the house and finances.
People in Kuala Lumpur aren’t different from any other guys from another large cities. As we vividly remember the Central Place Theory that gives a rough idea where a person should locate in a city, giving a constraint in the income and finances, ideally any one person may just pinpoint to a exact location that will appeal his inclinations. That’s extremely simple for city planners to do.
This isn’t happening in the real world as most of you experience. Some filthy rich men may choose to go for an out-of-town location, in which rentals are reputedly to be cheap, in contrary to the theory that his preferences should be in the central place, where rents are steep.
If these are set in place out on the Kuala Lumpur city plan, literally you will see some truth about the above preferences. Perhaps the best location for the central Kuala Lumpur is KLCC or also known as the “Golden Triangle”. In here all costly condominiums are built. Next are the townhouses just in the corner along Jalan Ampang and Jalan Cheras. Further away are terrace houses and more terrace houses and a bit of bungalows in between.
As KL is a changing city, a city that has many earlier settlements survived 100 years ago, new developed areas that hold in between the earliest schemes and the new schemes also have inherited the trait of old dwellers.
I say this because there are a few selected housing areas which ultimately have become favourite sites for one group of people such as Chinese or Malay. This is because the Chinese has inherited these strategic areas from a long time and these specific locations are naturally the favourite. There aren’t investigations on this concern as I know, but you will see my point if you buy a house in Cheras, Kepong, Puchong, Salak Selatan, Jalan Kelang Lama and other inner city locations.
Not only until 1960s when migration of workers from other states of Malaysia had flogged into the city housing area. By then New town became the norm of the day. City has expanded into new areas outside the boundary of the city. Among the first New town is Petaling Jaya, to the south, Shah Alam further to the south west and Bangi to southeast of the city centre.
The presence of a single ethnic group in one strategic location was little by little diminishing in almost all new areas following the migration. Areas such as Bangsar, TTDI, Subang Jaya, Taman Tun Dr Ismail have been “normalized” where the composition of population there reflects a true identify of Malaysia that is a multi racial society. Riot of May 13, 1969 briefly suggested that many people were killed from a clash of identity and racial tension among the ethnic groups and this may, in my opinion, have stemmed partly from the ethnic group’s own fondness or preferences to live in one race environment.
The most popular housing type is single and double storey terrace houses and bungalow. Of late a gated community in condominiums or flats is becoming more popular and trendy among a middle class and high income group group. Favourite areas for the rich and the famous are Bukit Tungku and Ampang enclaves however the trend is for these people to go for a “country living” in new high growth areas within existing housing schemes such as Bukit Jelutong, Shah Alam. Unfortunately, for new buyers this trend has pushed up the price of houses there considerably.
The current average price of a double storey terrace house is in the region of RM270, 000 with high and low level of RM220, 000 to RM320, 000. To adjust demand from middle class super link terrace houses were introduced at a price range from RM470, 000 to RM850, 000. It wasn’t a surprise to note that a price tag for semi-detached within new growth areas of the existing housing schemes now has escalated from RM490, 000 previously to over RM1, 400,000.
Best areas, as I would contemplate for capital growth are Bukit Jelutong, Shah Alam; Putra Heights, Subang Jaya; Putra Jaya and its vicinity. However, as the national economy is fore-casted to deteriorate this fiscal year, home price is assumed to be unpredictable. Nonetheless, as some people envisage the property industry will be influenced by a slowdown just when all other industries have fathomed out from the crisis, price will stay very speculative in the next one or two years. The price shall take its own remedy thereafter. With uncertainty in the national economy that is facing global economic problems in coming months and the present turmoil in the country politics, the fate of our housing market is dwindling with supposition.
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