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650 sq ft @ RM326k. Branded developer, Sentul.

Regardless of price attractiveness, I think many Malaysians would consider location as a primary reason for the purchase of their first property. Of course, this ‘location’ consideration depends on individual because some would look at distance as a major consideration. For those looking at distance, then there is one potential development for you. It’s within 9km from KLCC within Sentul. Of course duration wise, due to the number of cars and traffic lights, it may slightly lesser than 20 minutes. Near enoughlah if you ask me. Beyond just being nearby KLCC area, Sentul is considered a growing area with many new developments. There’s one article talking about ’10 things to look out for when buying properties in Malaysia’ which also touched upon Sentul as changing its usual perception into an attractive area for consideration. There’s another potential consideration in the future by a branded developer no less.

As per article in TheStar.com.my, Mah Sing has acquired 78 percent of Cosmowealth Housing Development Sdn Bhd for RM54.96mil. Cosmowealth had earlier signed a sales and purchase agreement (SPA) to acquire 8.5 acres of prime freehold land in Sentul, fronting Jalan Sentul Pasar, for about RM95mil. Mah Sing said, “Based on preliminary plans, the group will undertake a residential development named MCentura on the land comprising serviced apartments.” The indicative built-up sizes would be 650 sq ft, 850 sq ft and 1,000 sq ft priced from RM326,000 per unit. It is thus targeted at the mass market segment, especially first time homebuyers, some upgraders, medium income households and working professionals looking to stay close to the city. (I think this will be mostly for first-time home buyers who are single or a couple and especially working professionals who are non KLites but is currently working here. (KL). At this moment, there are no further information but I think once the plan is finalised, more information would be forthcoming.)

650 sq ft is definitely not big but I think I am one of those few who can still accept it. I stayed in a 700 sq ft apartment with my wife, my sister and my brother-in-law for over 4 years. Yes, that was my very first apartment. Assuming 2 people occupy this new 650 sq ft apartment, it’s still 325 sq ft per person compared to just 175 sq ft for me and my family then. By the way, new units are just 180 sq ft in Hong Kong these days, for affordability. Here’s an article: Marriage provides property affordability, seriously  For those with kids, I think the 850 sq ft units would be a better fit. Do note though that distance should not be the only consideration. Duration should be one too, depending on the working place for the buyers. Sometimes, shorter distance may not mean shorter duration. Do drive around a bit to understand yeah. Happy following and perhaps buying.

written on 27 May 2017

Next suggested article: It’s always too far, too expensive and too soon for many (updated)

 

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