Seroja Hills is a 19-storey leasehold development comprises 256 units across two inter-connecting towers.

Homes enabling quality lifestyles and connectivity are also in demand.

Properties with the right pricing, excellent connectivity and are able to add value to the quality of life for residents, would continue to be in demand for property buyers.

Ekovest Bhd managing director Datuk Seri Lim Keng Cheng said that the development of the Light Rail Transit (LRT) and Mass Rapid Transit (MRT) lines, which enhance connectivity to Greater Klang Valley, including Seremban, Rawang and Klang, will bode well for the residential and commercial property market.

Malaysia generally has a young population where 80% of Malaysians are below the age of 50, which means the demand for houses is going to increase, as more young adults join the workforce and are looking to settle down.

The property market dynamics of the country will continue to experience the revolution, where more Malaysians are now favouring value-added properties, especially lifestyle properties with affordable prices.

These properties are surrounded by amenities and are equipped with facilities, such as gyms and full-time security services, which allow for a more comprehensive and comfortable lifestyle.

With most young urbanites searching for work-life balance, the lifestyle living concept is fast gaining a foothold in the country.

Greater focus on affordability

However, with members of Gen Y establishing themselves as the biggest population group in Malaysia, the demand for affordable lifestyle properties will continue to increase in the near future, as many will begin to look for a place of their own to settle down.

This year will only see affordable to mid-range priced properties receiving more interest from property buyers.

Mid-sized apartments and two-storey terrace houses are still at the top of the list for aspiring homeowners.

Most prospective buyers are targeting properties located in well-developed and connected locations, especially with direct access or being in close vicinity to public transportation.

Some of the deciding purchasing factors for prospective homeowners will be the right pricing, such as less than RM550k for a three-bedroom service apartment unit, and a good development concept, paired with a trusted brand and developer.

Property is still one of the best hedges against inflation and is one of the most preferred asset class for wealth preservation in Malaysia.

Owning a property is now made easier as Oriental Interest Berhad (OIB) and Bank Simpanan Nasional (BSN) had recently announced its collaboration to make owning a property more affordable for first time home buyers.

Phase 2 of Seroja Hills offers a low density, 256-unit condominium. Standing at 19 levels tall, the development offers a single built-up area of 1,096sq ft, presented in a three-bedroom and two-bathroom configuration.This property is affordable as it is priced merely at RM320,000 onwards.

The residence is designed for modern living and will feature facilities including a swimming and wading pool, a futsal court, yoga hall and gym, multi-purpose hall, library, playground, as well as a 24-hour gated and guarded security service.

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The partnership between the two prominent companies was made official at the launch of OIB’s phase 2 of Seroja Hills Condominium that will be developed in the rising town of Bandar Baru Salak Tinggi in Sepang.

The collaboration features BSN’s Youth Housing Scheme (YHS) aimed to help married couples between the age of 25 to 40 with a household income not exceeding RM10,000 per month, to own a house.

BSN’s Youth Housing Scheme is extended to the first 20,000 qualified applicants where it finances the purchase of either completed, under construction or sub-sale properties.

Under YHS, BSN will provide home loans ranging from RM100,000 to RM500,000 with a tenure of up to 35 years or the age of 65, whichever comes first.

Both conventional and Islamic home loans are eligible with financing margin of up to 100% of the purchase price.

Successful applicants will also receive additional financing up to 5% of the purchase price for the cost of Mortgage Reducing Term Assurance (MRTA) or Mortgage Reducing Term Takaful (MRTT).

Speaking during the launch ceremony, Ms Beh Suan Sim, chief operating officer of marketing division at OIB said, “Since our establishment in 1985, we have always focused on creating long-term communities and sustainable townships by developing affordable and quality homes.

As such we are excited to embark on this partnership with Bank Simpanan Nasional as this collaboration further supports our ambition of making homes more accessible for first time home buyers.

This joint effort is also in line with the government’s initiative to enhance first time home buyers’ affordability, as shown in the recently announced 2017 Budget.”

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