Nope, that’s not a typo. It’s really the SP Setia with their Rumah Selangorku project. Slated to be launched soon. The smaller unit of 800sf would be priced at RM170,000 and the bigger one, RM200,000. I think, the bigger unit would be much more popular in this case. In a recent press conference, SP Setia also told the press that when they say affordable, it meant RM500,000 to RM1 million. Thus I think for these Rumah Selangorku projects, it should be known as super affordable. 🙂
Some time back, I wrote about all these developers having to follow the market and should not be the ones dictating the market. The reason I say so was because one major reason why prices went up was also due to the composition of new condos being built. Everyone was trying their best to offer ever ‘better’ condos and thus ever higher prices. The buyers meanwhile were persuaded to buy so that they can lock in the prices because the next one is definitely going to be higher. Fat chance. These increases do not last forever and we see today, the developers are more objective since the buyers are now able to see clearer.
Some people say that the main reason why developers do not like affordable projects is because of the low profit margin. I seriously do not think any listed company would want to build these affordable units, thus wasting their resources and in the end get lower profits. I seriously think all these affordable units may give almost the same because the land cost may be close to free, the density may be much higher than usual and the marketing related expenses nearly none. Come on, the reason why you read this article was simply because of the price, right? Haha. Yes, I think more of these branded developers would be building these affordable homes for Malaysians. I love that.
written on 20 June 2015
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