Developer‘s reputation of topmost concern

BY GOH OOI HWA


WHETHER it is small-scale home builders or well-established developers, quality is what buyers look for when it comes to purchasing a house.

Homemaker Tammy Low said besides good location and affordability, a reputable developer was also one of her and her husband’s considerations when buying property for investment.

She said her brother had an unpleasant experience where the developer took off, resulting in a heap of problems.

“You have to be careful who to buy from as you have to service the loan and interest if the developer abandons the project midway,” she added.

However, while reputable developers with years of reliable track record are a plus point, some said the lesser-known developers could also be a good bet when it comes to buying property.

Quin Low, 45, said while she was selective in property investment, which includes assessing the developers handling the projects, she believed small-scale developers could deliver quality projects that exceed the standards of some of the more established heavyweights.

Quin (right) and husband Andy Wong, prefer to invest in property. — Photos: RAJA FAISAL HISHAN/The Star

Quin (right) and husband Andy Wong, prefer to invest in property. — Photos: RAJA FAISAL HISHAN/The Star

“Working in the advertising industry gives me the chance to observe some of the projects at close range and the confidence to invest in smaller developments,” she said at the StarProperty.my Awards 2017 showcase at The Curve.

The StarProperty.my Awards 2017 presented projects by award-winning developers which attracted a huge crowd.

“Pricing and location are my main criteria when purchasing a home. I prefer a freehold development in a strategic location,” said Muhammad Salmizi Jaafar.

However, he said house hunting was challenging because of the lack of strategic locations at affordable prices.

“These days, even small-sized properties are priced over RM500 per sq ft, which is just too expensive, especially when fresh graduates earn below RM4,000,” Salmizi added.

Another visitor to the fair, Permodalan National Bhd (PNB) corporate communi-cations senior associate Syahrom Jumali, said, “Financial capacity is the challenge when purchasing property, as many workers earn just enough to cover their expenses on a monthly basis.”

He said most people were unable to afford the large downpayment and they must be willing to work hard to buy property, while loan issuers should be less strict.

Alex Tee, aged, 29, said as it was difficult for graduates to buy property, young buyers have to rely on their parents’ help to pay the downpayment.

property_trends_totalWith the conclusion of the awards showcase, StarProperty.my will be organising another property exhibition aimed at fulfilling the needs of bumiputra buyers.

The Konvensyen Hartanah exhibition, which will be held at KL Sogo from May 11 to 14, will combine exhibition and property talks in one location.

The event is a collaboration of StarProperty.my, mStar and Suria FM.

Visit fair.starproperty.my for more information.

 

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