One point that is always being mentioned by developers who are developing a small piece of land and thus could not build many units is this. “This project is low density and thus it is luxurious.” In fact, I think I have many friends who have remarked to me many times that when a project is high density, it cannot be luxurious. Especially one Penangite friend who bought a ‘low density’ condo project from a small developer and told everyone that her project is a ‘luxury’ project while those high-density ones are not luxurious. When asked about the facilities available, she said ‘got everything.’ However, only one car park was provided. I think she is right. Perhaps the super rich have drivers anyway, why would they need two car parks.
Let me share my personal opinion about low density and luxury. Low density plus luxury is applicable IF you (developer) have a huge piece of land but you are building very few units and thus proving these units beyond the affordability of majority. In the end, only the few super wealthy people are able to buy and more often than not, the units are empty because these might just be a vacation home for them. I seriously think the current mindset of super wealthy Malaysians would be to stay in big bungalows or even a huge semi-detached home within a gated and guarded environment. The super wealthy ones who are reading this, please correct me if I am wrong and that with your money you would prefer to stay in a ‘low density’ condo which typically means less than 500 units?
In KL, many new condo projects which are also touted as being above average with lots of access to malls and future MRT stations are often 1,000 units or higher. Even in Penang, quite a number of years ago, if you have 500 units or higher within the same compound, that’s high density. I think today, these 500 units is nowhere near the really high-density ones coming up in the near future. Read here: Penang affordability, higher units definitely Seriously hope that everyone is clear about what is low density and what is luxury. If a project has just 200 units but few facilities and not even a nice garden within the project or very limited car park spaces, that’s just low density. Can even be low-end, really.
At its simplest form, luxury equals comfort. It has less to do with the price we pay. Luxury also means sufficient space to do what you want. Luxury is to be able to enjoy the facilities as and when you want and luxury is also having to park your second or third car within the safety of the project and not outside or along the roads somewhere and having to run to your project when you come home late at night. Luxury also means it attracts a better crowd and not just any Tom, Dick and Harry. So, yes, it can’t be too cheap. Am I staying in a low density and luxury unit today? To be honest, based on my own strict assessment, my condo does not qualify under the low-density or even the luxury category. Do I like my current condo? YES. Cheers.
written on 4 May 2015
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