New townships being developed today are often not located in the most sought-after locations for property buyers but as urbanisation gains pace, these townships will eventually become self-sustaining if they are well-planned for long-term sustainability.
In these new townships, the mantra “location, location, location” seems no longer the most important factor of success, as the pandemic has certainly changes the way we live and work. These new townships provide an opportunity to many in becoming a property owner, especially for those who cannot afford to buy a property in or near the city centre.
The question now is, does that mean if one were to buy a property that does not have a “good location”, there is no hope for an increase in the property value? Well, not really, because aside from location, having these five amenities in proximity to their property will stimulate housing demand hence, increase the value of your property.
1. Public transport stations
Living near MRT, LRT or bus stations remains one of the biggest selling points of a property project. With more public transport lines upcoming, you can be sure that demand for property there is higher than in areas with no public transportation coverage.
2. International schools or universities
Having international schools nearby will increase the demand for housing from the expats, and expats are usually ready to pay more in rental for a good property. Other amenities will also pop up in the area to cater to their needs, such as medical facilities, shopping malls and restaurants which will increase the liveability of the surrounding neighborhood. Having universities in the vicinity also will increase rental demand, thanks to students and teachers coming in from other states.
3. Medical facilities
Health infrastructure is a major key driver for where people choose to live. Many people prefer the option of better access to hospitals with 24-hour medical care, especially If there is an emergency department. Not only that, the increase in housing demand from the medical staff will also increase the value of the property.
4. Shopping malls
Locations around shopping malls are hotspots that are always in demand, especially by young people and tourists. Shopping malls are an important player in commerce that drives the economy and tourism sector of a locality.
5. Parks and green lungs
Thanks to the increasing awareness of healthy and sustainable lifestyle, park and green lung is now an important amentity when homebuyers searching for their dream home, especially for small and growing families living in or near the concrete jungle. It is no surprise that a property value will be significantly affected by having a well maintained public park nearby.
[Image source: Freepik]
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