Do you love to drive up 18-levels of car park before reaching your home somewhere in greater KL / Selangor?
When we write something interesting, surely the follow up comments will also be interesting and this time, it’s factual too. I wrote this article recently about that possibility to buy just one acre of land (43,560 sq ft) and building a total of 1,000 units of homes on it. Get real, the size cannot be 1,000 sq ft per unit, okay. Please do read if you like to know more yeah. Can we build 1,000 units of homes on a 1-acre land? The following is a response from my good friend who is full of numbers, statistics and well, figures too. He is Dr. Daniele Gambero, the only Propenomist I know in the world.
He wrote, “43,560 sq ft, after setbacks would leave the owner with just 28,000 / 32,000 sq ft. The plot ratio of 10 for example is calculated with the remaining land in sq ft x 10. Thus, it is no longer 1-acre of land” (Yes, this is what happens when the land is just 1-acre yeah. So, if we intend to develop any piece of land, perhaps good to buy a bigger piece yeah. Then, give me a call so that we can have a cup of coffee and think about what to build yeah)
Dr. Daniele then explained the part about car parks which I did not write because I estimated the car parks to be 10 levels. His numbers are much more realistic. He wrote, “Beside this have to consider current rules and regulation on car park. In KL we still have 2 car park per unit plus 10% for visitors and OKU. Which bring in a whopping total of 2,200 car park lots @ 350 sqft each (inclusive of circulation and so on) comes to a total GFA (gross floor area) for car park alone of 770,000 sq ft.”
He added, “If your land is 1 acre it means your developer will have 18 floors of carpark, minimum 😂😂🤪🤪It might be taking you 20 minutes to go from the entrance to your carpark at level 18 lol .”
WOW… suddenly I think no one is interested anymore? Well, we will have to see what the next generation think about convenience and what’s their lifestyle is like. Imagine the millennials of today staying in a bungalow when they are old? You get my meaning… Anyway, if we look at Hong Kong or Singapore where the number of cars were controlled, then all these super high density developments are possible, especially if it’s connected to the MRT station. My thinking is a simple one. There are already so many good examples which we could learn from.
In fact, it need not be ever higher density, it could even be legislation for re-development of old / dilapidated / insufficient occupancy developments. All these would happen before that conversation about the potential for underground developments can start too. Not everyone likes to drive 50km to work everyday… Not every generation anyway. Happy reading and please do tell us your thoughts too.
Love to be updated of investment news? Sign up for KopiWeekly. (once per week for property, finance, investment news and more)
Next suggested article: Really want to sell your property faster? 6 tips here.