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Published: Monday July 28, 2014 MYT 12:00:00 AM
Updated: Monday July 28, 2014 MYT 9:11:23 AM

Interest in condos and landed properties evenly spread

Model customers: Visitors looking at the model of a project during the property fair in Penang while a prospective buyer (left) is in discussion with an agent in Johor Baru.

Model customers: Visitors looking at the model of a project during the property fair in Penang while a prospective buyer (left) is in discussion with an agent in Johor Baru.

JOHOR BARU: There seems to be equal interest in buying high-rise and landed properties as seen at the Star Property Fair here.

Naza TTDI Sdn Bhd sales consultant Russ Chong said that each type of property had its own prospective market.

“Investors usually look for high-rise apartments or condominiums. Home buyers looking to settle down would prefer landed property,” he said at the fair yesterday.

Chong said they were also targeting the Singaporean market for its Kuala Lumpur properties such as the freehold TTDI Grove in Kajang and its 154-unit TTDI Ascencia condominiums in Taman Tun Dr Ismail.

“Johor may be nearer to Singapore and has a strong property market but Kuala Lumpur is equally appealing to Singaporeans due to its capital city address and our premium locations,” he added.

Hatten Group property investment manager Samuel Chee Ying Hau observed that Malaysian buyers mostly preferred landed property but there were many who also realised the potential of high-rise properties for investment.

He said Hatten hoped to attract more Singaporeans to purchase its Imperio Residence, located in the heart of Malacca, which is already about 90% sold out.

“Most of our buyers are those from across the Causeway. Singaporeans have a special love affair with Malacca as we can see a lot of Singaporeans lingering in the historical city during weekends and the holiday season.

“Besides the location, the appeal in our property is its relatively cheaper pricing compared with Kuala Lumpur and Johor Baru. Malacca also offers a more relaxed and cosy lifestyle compared to the hustle and bustle of the two big cities,” he said.

Matrix Concepts Holdings Bhd sales and marketing assistant manager Wong Yek Meng said that although the property market in Johor was currently slower compared to last year, the demand for landed property was still going strong.

”High-rise apartments are stylish and modern but there are many buyers who look for a spacious environment,” he said, adding that about 70% of the buyers for its Taman Seri Impian homes in Kluang were Malaysians.

In conjunction with the property fair, Bangsar Heights Pavilion Sdn Bhd is giving out an additional 5% discount for its properties along with a waiver of legal fees for sales and purchase agreements and loan agreements.

The three-day property fair also featured exhibitors like Tropicana Danga Bay Sdn Bhd, Encorp Bhd, Galeri Tropika Sdn Bhd, Plenitude Bhd, R&F Development Sdn Bhd, KSL Holdings Bhd, REI Group of Companies, Scientex Skudai Sdn Bhd, Sunsuria Medini Sdn Bhd, Tropicana Corporation, Mayland Properties Sdn Bhd and Medini Iskandar Malaysia.

Developers close RM190mil in deals at property fair

Tags / Keywords: Property, property buyers, Star Property Fair, demand, high-rise, apartments

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