indepth

Brewing potential in Seremban

Believe it or not, barbecue crab, baked meat buns (siew pau) and beef noodles are the reasons many Klang Valley folks flock to Seremban for brief visits.

Yet, Seremban offers much more than a quick fix for food cravings.

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In recent years especially, enhanced connectivity has shortened the distance between major business hubs in the Klang Valley and Seremban. In fact, you could arrive at the Kuala Lumpur city centre from Seremban quicker than from within Selangor! Although located about 65km away from the heart of the country’s capital, Seremban is just about an hour’s drive via the North-South Expressway. 

Still, the clear icing on the cake is Seremban’s liveability complemented with affordably-priced homes.

“It is true. Seremban, located just south of Greater Kuala Lumpur, has witnessed rapid development in recent years, fueled by rising demand from especially homebuyers from Kuala Lumpur,” PA International Property Consultants Sdn Bhd associate director of Seremban branch office Ong Hai Chuan observes.

Compared to the Klang Valley, homes in Seremban are priced more affordably and therefore deemed as good buys, Ong tells EdgeProp.my.

The price factor aside, homebuyers from outside Negeri Sembilan favour Seremban for its location and matured infrastructure, he notes.

“Seremban is strategically close to KLIA and KLIA 2. Good and easy accessibility is provided by, for example, the PLUS Highway with its five interchanges at Seremban; KESAS Highway with four interchanges as well as the Seremban KTM railway.

“In addition, the upcoming High Speed Rail (HSR) linking KL to Singapore would stop at Seremban or the nearby Labu,” Ong notes.

Henry Butcher Malaysia (Negeri Sembilan) Sdn Bhd director Siew Weng Hong concurs that the newly-declared city has ample plots suitable for township development. This offers a good fundamental for the Negeri Sembilan state capital, which gained city status in January 2020, to transform into a new liveable city.

The price point is especially attractive given both the rapid development of Seremban itself and the fact that it is one of the closest second tier cities to KL, adds Siew.

“Places like Kajang and Sungai Besi in the Klang Valley are less than an hour’s drive away but the property prices there and in Seremban are so significantly different.

“For instance, for RM400,000, you could probably buy just a nice condominium in Kajang, but for the same amount of money, you could get a double-storey terraced house in a nice and established township in Seremban. This is why people who are looking for more spacious homes would consider Seremban,” Siew explains.

Good capital appreciations

How has the Seremban housing market fared in the Covid-19 pandemic?

“Healthy,” Siew replies succinctly, adding that residential properties in Seremban are enjoying good capital appreciations.

A new double-storey terraced house in Seremban was selling at a price range of RM180,000 to RM220,000 ten years ago. Five years thereafter, during the property market’s peak period, the price rose to the range of RM500,000 to RM600,000.

Although price growth has moderated following the general market trend, property prices in Seremban have remained stable.

“Now, in 2020, the newly-launched double-storey link houses have seen selling prices range between RM400,000 and RM450,000,” he observes.

Siew does not see the lower-priced launches to mirror a dip in demand or value of properties in Seremban.

“Previously, there were some overpriced new developments which did not do well. The Covid-19 pandemic has led developers to rethink their strategies and review their product size, layout and pricing. The adjustment in supply has also led to improved sales performance,” notes Siew.

“Just in September, some 90 new terraced homes priced from RM400,000 to RM500,000 were sold within days of their launch. The desire to own a house is still very strong and people understand that now is the good time to buy because the price is very reasonable and Seremban is a very matured place to grow a family,” Siew adds.

This story first appeared in the EdgeProp.my e-Pub on Dec 18, 2020. You can access back issues here.

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