Reapfield Properties HQ real estate negotiator Andrew Tan, who is also a resident of Desa ParkCity for over a decade admits that when the residents first heard about Sofiya Residensi, objections were filed to the developer, on the basis that the project would mar the whole exclusivity of Desa ParkCity. However, now that the project is completed, he is genuinely amazed at how stunning the project looks.
“I haven’t been into the unit itself, but from the outside, it looks beautiful. We have seen some poorly designed affordable housing projects and Sofiya Residensi is definitely not one of them. The developer has done a good job and I honestly feel that the homeowners here have somewhat struck a lottery. The residents in Desa ParkCity have also been quite accepting of the project and I really commend the efforts done by the developer while adhering to its responsibility to build social housing,” Tan tells EdgeProp.my.
He reckons a unit in Sofiya could fetch rentals of RM1,800 to RM2,000 and may go up to a ceiling of RM2,500.
“In Desa ParkCity, there are no properties for rental that is below RM3,000, so this would fill the gap for that range of rental pricing,” Tan says, adding that it would mostly attract locals who want to live in the Desa ParkCity address with an affordable rental.
Meanwhile, Yit Seng Realty team leader and senior real estate negotiator Wong Ai Ling says it is rare to see a developer going above and beyond the conventional specifications of a Malaysia Civil Servants Housing Programme (PPAM) project, so Sofiya Residensi is indeed an exception.
“Having a unit at RM300,000 within this ‘Golden Land’, as it is fondly known as, is already worth more than its pricing. For tenants who have a budget, most of them are really excited to know that the project has been completed and this is their chance to stay in this township.
“The developer, Perdana ParkCity, is a reputable developer, so its workmanship is definitely above average although this is a PPAM project. I went into a unit to see its tiling, walls, bathroom fittings and the common areas – the workmanship quality is tip top.
“Not only that, they even provide a free air-cond in the living room too!” she notes, adding that the developer has also taken the initiative to upgrade its facilities such as the gym, games room and badminton court.
Wong adds that she has also written in to the Ministry of Housing and Local Government and has received a confirmation letter that PPAM projects outside the Putrajaya District can be rented out.
“Based on the surrounding transactions nearby as a reference, a rough estimation for a basic-furnished unit here would be around RM1,500, partially-furnished around RM1,800 and fully-furnished in the RM2,000 range. Having said this, we still need to see how the tenant market responds later as it still comes back to demand and supply,” she notes.
However, she is anxious about parking issues outside the project as most of the units come with one car park.
To help resolve this, she suggests the developer allocate some extra car parks for rent to Sofiya Residensi residents.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates
TOP PICKS BY EDGEPROP
Alam Budiman Condominium (Pangsapuri Alam Budiman)
Shah Alam, Selangor