A colleague asked me a question the other day over lunch. He said, ‘you know I live in Klang, do you think Klang properties would increase in price to be like Kuala Lumpur.’ I said, what do you think. He said he does not think so. We both laughed. Honestly, if we are working in KL and we stay in Klang, it’s not that near. Of course, if we leave early, the journey may take less than 45 minutes but that’s the only way we can arrive on time. Otherwise, it may not be wise to stay in Klang. That explains why the property prices in Klang is not going to be at the same level of KL. The demand and the perception of a nearer property is definitely more positive than a further one.
I read a piece of good news for Klang in an English daily recently. It reported that KSL Holdings would be starting work on its KSL City Mall 2 which is expected to be one of the largest malls in Klang within 2015. The mixed development has a gross development value of RM2 billion and it comprises a mall, hotel and service apartments. The total area for the mall is 2,000,000 sf. Yes, this is 2 times bigger than Paradigm Mall. The overall completion date is pretty fast actually, in 2018. KSL Holdings chairman said that this mall will be a replicate of its existing development in Johor Bahru.
If you have been to Johor Bahru, you can also stay at KSL Resort which has access to KSL Mall. I have personally stayed there a few times when it was still new and have no complaints. Even the buffet breakfast is good with lots of choices. This KSL City Mall 2 would be accessible via the South Klang Expressway and KESAS Highway. A little further away would be the LRT 3 in 2020.
Personally, I think I can now tell my colleague that with this mall, surely Klang folks can have another huge mall to visit and does not need to drive to KL during the weekends. Thus, the positive factor would increase and property prices should move, in tandem with the usual average increase. As for KLites driving to Klang Valley to shop in KSL City Mall 2 instead of the many malls here in KL, I have to say the chances of that happening would also be rather low. Thus, the status quo should remain the same. Oh yeah, I love my colleague’s landed property in Klang in a matured neighbourhood costing only over RM350,000. the only issue is that my lifestyle may have to change a lot if I were to stay there and work in KL.
written on 24 June 2015
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