The more cafes in the neighbourhood, the higher the property price?

I think this is more applicable to the Klang Valley properties. There was an article long time ago about property price being related to the distance that your home is away from the MRT / LRT stations. Apologies as I did not read that article in full because I do not believe in paying premium on top of premium simply because you are 28 steps closer to the station compared to another home which is 28 steps away? Evaluate the property properly. Here’s some tips on inspecting condos. As for the number of steps, do skip it.

I am still a traditionalist and for anyone intending to get a condo, even if it’s nearby whatever public transport, make sure there are two car parks. I have seen so many European and Japanese cars on the road, driven a single Gen-Y or Millennial and I have yet to believe that these people would be willing to take the public transport and be squashed like a sardine in a can during peak hours. Plus the willingness to walk a few hundred metres, most of time under the sun and sometimes under the rain to reach the station or office. I do hope that I am wrong once the MRT starts. 

Yesterday my good friend shared to me an article entitled “HOW COFFEE HELPS YOU FIND GOOD PROPERTY BUYS” Nope it’s not about following the smell of the coffee until you find a good home to buy. The writer really did a research on the number of cafes within a certain neighbourhood, plot them onto the map and voila, it actually showed that neighbourhoods which are most expensive tend to have a higher concentration of cafes. I shared with my colleagues and they told me that the same could have been true as well. Due to these neighbourhoods being expensive, more cafes were opened there due to the higher possibilities that the patrons would be willing to pay RM14 for a cup of coffee.

I think my colleagues’ thoughts make sense too! If I am a cafe owner, I would definitely love to open in a more posh area compared to an area which may not have my target market. Okay, from today onwards, be on the lookout for the number of cafes before we place the deposit. Alternatively, ask the developer or the sales agent about the number of cafes within the neighbourhood. Show them this article yeah. Happy searching cafes and homes.

written on 27 June 2016

Next suggested article: Savings up for your baby’s future, how about saving via property?

 

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5 thoughts on “The more cafes in the neighbourhood, the higher the property price?

  1. Very interesting observation! I have to agree though. take Damansara Uptown for example; the number of new cafes opening there (be it coffee, tea, ice cream, cakes, brunch, etc) on a weekly/monthly basis is staggering, and the property prices in and around that area is soaring higher and higher. Thank you for sharing the ‘coffee analysis’ article too, very interesting read. 😀

  2. I disagree with this analysis. On the surface, it may seem to be the case but using the Damansara Uptown example, many of the hipster coffee joints have also shuttered due to low business. It is very sad to see the young entrepreneurs have their dreams dashed when paying customers are slow to come by

    • Actually, many of these cafes come and go as well. As long as one has a dream, make it slightly more special than everyone else to stand out. Else, the paying customer may just visit the one they like the most.

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