Industry experts discuss the how Kuala Lumpur is expected to grow.
By Viknesh Ashley
The property market, though soft, is now rich in choices as several developers are offering alternative means for purchasers to finance future buys.
However, there are two sides of the coin that are being faced by buyers. Some are confused by the abundance of information with regards to property purchase tips, while there are also those that use the given information to make a well-thought-out decision.
Propwall CORE is a platform for consumers and real estate agents to gain knowledge and share ideas about the property market while expanding individual networking with others.
Propwall CORE held a talk last Sunday titled “A new Property Mantra – Location, Timing, Concept”, which was purposed to educate property buyers, easing the decision making process to secure a property.
Two prominent speakers made an appearance at the event. These speakers included chief economist Shan Saeed and IQI Realty Holdings vice president Sean Lee.
The first speaker Shan Saeed shared his insights about Infrastructure Investment Strategy, stating that infrastructure investment or rail road investment has a positive impact of GDP growth rates.
According to Shan, Kuala Lumpur is shaping toward the EDGE City concept by Joel Garreau. This is due to some factors such as Kuala Lumpur holding more than RM5mil sq ft of office space, the city having more jobs than bedrooms and look nothing like how it used to 30 years ago.
Adding to that, Shan explained the rail road investment in the US and Japan showed a positive correlation with macro outlook for the economy.
“There are currently 10 fully operational lines. Two new lines are targeted for completion by this year and another by the year 2022. These lines include the Sungai Buloh to Kajang MRT and the Sungai Buloh to Serdang to Putrajaya line.”
As the train lines expand, the developments and properties offered surrounding the train line should increase relatively. Property buyers should take advantage of this and focus future investments accordingly.
Speaker Sean Lee introduced a different angle of property investment. He explained that due to the weak ringgit and the visa exemptions to some countries meant the tourism statistics within the country is expecting an increase.
Particularly, tourists from mainland China are expected to double to four million visitors this year.
Sean explained that 60% of the tourists visiting Kuala Lumpur has ideally spent at least one night at the Bukit Bintang or the Bukit Ceylon area, as overwhelming bookings are a norm in these areas.”
“This is a good opportunity for property investors to convert their purchases into homestay operating concepts via companies, such as AirBnB and Booking.com.
With the right conditions in place, property owners can generate up to 9% yield, provided occupancy rates for a given property manages to reach 70% within a month, translating to just 20 days a month, concluded Sean.
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