Every single person yearns to own a room, an apartment or a house, especially in Kuala Lumpur. Whether it is for personal use, or to rent, or resell, the purchase of a house may result in saving (or earning) a sound amount of money, when carefully planned out.
However, as prices reach hundreds of thousands of Ringgit and the housing market undergoes continuous evolution, the accurate estimation of a property value requires thorough consideration of several crucial factors: the quality of the interior, for example, or type and size of the property, number of rooms, as well as their layout. And do not forget the density of people living in the area.
The value of a property can also depend on people’s perception, and can be subject to negotiations. Additionally, for long-term occupation, most internal aspects of the house can be re-examined and adapted.
Homeowners often overlook external factors that may be viewed as very important by potential buyers or tenants. Some of these factors are relatively dependent upon the overall environment of the area, which could be beyond the control of the property owners. We found that these two play an important role in determining your property value:
The facilities and amenities of the building do not only provide the tenants with the activities or comforts they desire, they also bring a certain energy to the area. People from outside can use the swimming pool or gym, and meet at the lounge or café. Parents can take their kids to the playground or clubhouse. This creates a sense of community, increasing the real estate value.
The location and its surroundings
This might be the most important factor to consider when looking for a location to invest in. A good advice is to avoid neighbourhoods prone to crime, or areas that were once popular but have not seen any increase in value after reaching their peak. Properties should be bought in upcoming areas only, and also the possibility to reach gateways and certain ‘landmarks’ (as commercial structures and public services) easily must be taken into account.
In Kuala Lumpur, for instance, Ampang is seen as a big hit, thanks to great accessibility (close to Middle Ring Road 2, Kesas Highway, Sungai Besi Expressway and Ampang-Kuala Lumpur Elevated Highway). Indeed, properties value in Ampang has skyrocketed over the past few years, especially for a particular project called Axis Crown Pandan, built at walking distance from Pandan Indah LRT station. Despite an unfortunate delay of one out of four phases, Axis Crown value has appreciated more than twofold since its completion; a remarkable feat in this period of financial instability. New Axis Crown’s developer, Convergent Solutions Sdn Bhd (CSSB)* has since taken over this project from Zaj Properties Malaysia (formerly known as RK Group Holdings Sdn Bhd)
Convergent Solutions Sdn Bhd (CSSB) is an experienced company in the property sector, currently led by Ms. Yusni Khan, who has more than twenty years of experience in this industry. The company aims to help purchasers and investors realise or raise the value of their investment in property development projects. CSSB main goal is to successfully complete delayed or abandoned projects all over the country by reaching out to thousands of affected buyers.
CSSB resurrects those projects to their fullest potential. With the support from stakeholders, CSSB believes it would be able to deal with the completion of the delayed phase within a year’s time. The three other phases have been up and running for some time now, with great success.