KUALA LUMPUR (Aug 10): Despite lacklustre market, Platinum Victory’s Vista Sentul apartment and Vista Danau Kota have received good response with 60% and 70% of the units snapped up after launch.
Located in the matured neighbourhood of Sentul, Kuala Lumpur, Vista Sentul has gained a 60% take-up rate since its soft launch during the Conditional Movement Control Order (CMCO). The project was officially launched on August 8, 2020.
Situated on 2.38 acres of freehold land, Vista Sentul comprises two residential blocks (32-storey and 45-storey) housing 705 units with built-up sizes ranging from 689 to 1,216 sq feet. The units are priced from RM478 psf onwards.
The development is set to be completed in Q3 2023, with a gross development value (GDV) of RM308 million.
Meanwhile, Vista Danau Kota under Vista Essential Homes is located in Setapak, Kuala Lumpur. The project has garnered a 70% subscription rate in three weeks since its official launch on July 4, 2020 through the government’s Affordable Housing Scheme (Residensi Wilayah, also known as RUMAWIP). The one-block development comes with 910 units each priced at RM300,000.
“Overall, the Malaysian residential property industry continues to be resilient. A recent consumer sentiment study by the industry suggests that more than half of renters and almost half of young respondents (22 to 29 years) are undeterred by the current challenges in terms of home ownership and will proceed with property transactions as planned.
“The encouraging response that we have had validates the view of some analysts who have observed active bookings of rightly positioned residential products of reputable developers in popular suburbs,” said Platinum Victory executive director Gan Yee Hin through a press statement today.
He added that the relief measures and targeted bank assistance through initiatives such as the National Economic Recovery Plan (PENJANA) and other stimulus measures have made it easier, particularly for first-time homebuyers, to own a home.
Gan opined that the property industry still holds the public’s confidence and buyers’ keen support for new developments amidst the current competitive landscape.
“This is possible thanks to consistent coverage by the media on property development updates to keep the public informed. This has generated positive responses among stakeholders to boost market sentiment. Media professionals are the unsung ‘frontliners’ in keeping Malaysians apprised on the latest developments during this period,” he furthered.
Vista Sentul is a participating project of EdgeProp Malaysia Virtual Property Expo 2020, click here to find out more about the project.
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