News by M

Property consultants take encouragement from transport initiatives, but are on the whole unimpressed by Budget 2016

According to group managing director Tan Sri Leong Hoy Kum, the government’s continued efforts to make the high-speed rail a reality and its commitment to improve highways, MRT and LRT will directly benefit Mah Sing since 61% of the company’s landbank in terms of gross development value is in Greater KL.

Mixed reactions from the two bodies

Here are some reactions to the Budget announcement

The news is not entirely a surprise to us as we had reduced our FY15 sales estimate earlier in August to RM1.31 billion. However, the amount of reduction is higher than expected as management is now targeting only RM1 billion of sales.

The unit types available include 1-bedroom, 2-bedroom/1-bathroom, and 2-bedroom/2-bathroom apartments with built-ups ranging from 82 sq m to 181 sq m.

Menteri Besar Datuk Seri Mohamad Hasan said the available land would be given for free to interested organisations to build affordable homes or charity homes.

State housing executive councillor Jagdeep Singh Deo said the cheaper the house, the higher the rejection rate for buyers seeking bank loans to purchase the unit.

A few projects here outperformed the local market. In the 12 months to September 2014, the average price at D’Casa Condominium gained 36.6% y-o-y to RM275 psf. Located in Taman Sri Watan, typical units are between 883 sq ft and 958 sq ft.