Property used to be one non-fancy big ticket item purchased solely for sheltering purposes. Today, property is more than just a shelter but an indication of the purchaser’s wealth position, social status and living taste and lifestyle.
The changing of property purchase motivation has reflected on the residential development trend of Malaysia in recent years, such as extensive common leisure facilities, more green features and comprehensive township amenities.
In fact, it is more than just a trend but a basic package when purchasers buy into a new property. Below are five most common elements that you can expect when visiting a new residential property project today in Malaysia.
1. Attractive packages
The old days of people queuing overnight just to grab a unit of a new property project have long gone. Since the property industry has entered into the buyer market cycle the last few years, developers have been creative in rolling out attractive buying packages and incentives to win the buyers’ attention. Some of the most common incentives and financial assistance are early bird discount, low down payment, down payment installment, cash rebate, progressive payment, referral discount and so on.
Developers are giving out more initial cost assistance today to make the deal irresistible, such as free Sales & Purchase and Loan Agreement lawyer fees, free Memorandum of Transfer fee, free 12 months maintenance or club member fees.
Besides, property buyers can expect more unit furnishing freebies such as air-con, water heater, kitchen cabinets, door grille and white sanitary ware. There is also the trend of giving away high-technology home products such as digital lock and intercom CCTV.
3. Ample facilities
As property buyers have higher demand on lifestyle, the extensive number of facilities often make the highlight of a new property launch these days. Most of the new residential property launches are easily boasting at least 10 facilities, while some up to 30 to 40 facilities within a development. Some of the most common project facilities today are swimming pool, gym, pocket garden, children playground and multipurpose hall.
4. Green features
You may not be aware but there are more and more residential projects designed with green and sustainability in mind as the interest in being environment friendly has increased tremendously in recent years. Sustainable building features that are often found in local residential projects include use of solar energy, rainwater harvesting, community farm or garden as well as the unit layout design that maximise natural lighting and encourage natural airflow to lower down the use of energy in the long term.
5. Nearby amenities
Location has always been the golden mantra but the fact is good locations are running out of development land hence more new launches are moving further away from the established addresses. In order to hit the sale target, many developers choose to build an address from scratch by developing a self-sustain township with all the daily amenities in place such as school, hospital and commercial hub. Some of the successful examples are Setia Alam and Kota Kemuning. Today, the nearby amenity has become something that property developers would consider when planning a new project to make sure it is sellable.
[Image source: Background photo created by evening_tao]
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