To some, the fact that the wealthy are once again putting their money in real estate is a sign the market is on its way up, reports PAULINE NG
WHETHER it was the triple 8 that did it, I&P’s launch of 80 link houses on August 8 in Bandar Kinrara Puchong in the Klang Valley was a sell-out – in three short hours. Of course, the value-for-money proposition for its link houses proved irresistible to house buyers, some of whom, according to reports, had started queuing on July 29, more than 10 days earlier. Many jumped at the pricing for the units with built-up areas of 2,151-2,551 sq ft. Priced at around RM460,000 (S$187,081) – by some estimates a discount of nearly 20 per cent – house buyers obviously thought it was too good a deal to miss.
Price revisions appear to have done the trick for a number of developers in Klang Valley and Penang which have recently seen good take-up rates for new and older launches. Inquiries have picked up noticeably, property consultants say, with attractive financing packages and discounts initially stemming the slide, but now providing some momentum.
One developer launching service apartments in the trendy area of Sri Hartamas next to Mont Kiara recently advertised its terms: RM15,000 downpayment on signing, zero interest during construction, no legal fees for the loan or agreement, and guaranteed returns of 6 per cent for two years. Continue reading
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