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Better names, better prices. What if the names are changed?

Location is the main ‘ingredient’ in property investment. Anyone who does not know about this should know about this. Have we however wondered then what makes a location a good or even a great one? Lots of different reasons for different people. For this article, let’s assume this. Considering the location itself is ALREADY a famous one because of the many good things happening there, does the NAME then carry sufficient branding for new buyers to buy? Let me just name a few of the typical ones? Mont Kiara, Desa Parkcity and even Bangsar. Usually, just the name itself would help the new launch a few more seconds of reading through. If the name does not make any sense, the potential buyer may have missed it altogether. This is the reason why there are so many newer areas with new names which are related to the older and more established names. For example, North Kiara, Bangsar South or even Subang West? No one buys solely because of the name but a good name helps tremendously in marketing and promotions.

I like this article by Khairie Hisyam Aliman in TheEdgeMarkets.com – Coffee Break: The new risk emerging in Malaysian property  He was sharing on the topic of the recent suggestion that Bangsar South be reverted back to Kerinchi. Within the article, he asked if politicians are looking to reverse some of these strategic value-adding rebranding of places, how will it impact property values? Well, he said that some believe the inherent value of a good location will prevail, but market observers still expect some impact on subsale pricing. He then shared an actual marketing sentence by a developer. “The best example? Who can forget that one development where the tagline reads “Really Damansara. Where it is Damansara by name and location.” (Ouch.)”  His conclusion? He says, “Really, the best way forward is to just stop this nonsensical rebranding of places. Let’s just stick to location, location, location — and let the location sell itself.”  Please read his full article if you have not done so. It could be for knowledge or for humour. Khairie Hisyam Aliman in TheEdgeMarkets.com – Coffee Break: The new risk emerging in Malaysian property  

Do you agree? Frankly, I think if we are familiar with a certain location and we like it, we will like it whether or not the name was an old one or a new one. We will also like the area whether or not the name is a half-half, English + BM or BM + English or whatever language plus whatever language. True? However, when we are talking about property buyers, the number of new buyers are tremendous simply because for Greater KL itself, the urbanisation is continuing. This is why there are those who are familiar ONLY with Puchong and beyond (Seri Kembangan, Bangi, Kajang…). There are also those who are familiar with Damansara and beyond. (Sungai Buloh… Rawang… etc). This is the reason why certain names are cleverly associating themselves with an area which is more popular. This attracts potential buyers to take a closer look or even drop by to view the place. If the buyer likes the place, the area has a new supporter. However, if the name is a totally unfamiliar one and it did not attract potential buyers, then ‘tak kenal, susah nak cinta…’  Another very brief example? Just look at how we decide whether or not to read some articles. The title would have to contain some words or phrases that attracts us, right? Happy following.

written on 25 June 2018

Next suggested article: Be careful with property investment today

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kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

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