RM585k? No problem, sold out within the same day of launch

Most people would look at me strangely when I tell them that the current slowdown is not because everyone is poor (Crisis?) or the property prices are way too high (Totally unaffordable) but one where the mood is a little negative coupled with some mismatch in expectations. By the way, just within the first month of January, there are already a few launches and I think the Chinese New Year would bring even more events. Perhaps two better questions to ask ourselves before we buy for own stay would be: (1) Do we like the area where the homes are located (familiarity helps a lot usually).  (2) Do we like the design of the home (usually about the availability and usage of space.) Only when we have answered these two fundamental questions do we move on to the price. The reason is simple. Just because we could afford do not mean we must buy…. YES, this is the reason why there are many cheap homes which remain unsold contributing to the oversupply situation currently. 
Coming back to our story about a major developer and a popular area. Reported in NST: SP Setia has just launched Careya which they term as Setia Alam’s Starter Homes series. There were a total of 93 units and prices start from RM585,000. Total gross development value is thus RM58 million. Queues started forming the night before apparently. Careya is due to be completed in 2 years and the sizes are 20ft x 65ft double-storey houses with built-ups starting from 1,677sqft.  “The objective of the Starter Homes series is to give both first-time buyers and those looking to upgrade the chance to own a freehold landed residence in a thriving community, usually only found in new developments located far off from central Kuala Lumpur or Petaling Jaya,” said general manager of Bandar Setia Alam Sdn Bhd Tan Siow Chung in a statement. After this successful launch, the next phase of the Starter Homes series, according to Tan, will feature 18ft by 65ft double-storey houses.
Homes which are made for families at a price which could be made affordable enough for the husband and wife (both working professionals) will continue to be snapped up, actually. This is especially landed ones where the demand is far greater compared to the supply of good and affordable ones. To put things in perspective, Setia Alam is slightly lesser than 40km away from the KL city centre. Google map on your left. I have many friends who enjoys their much bigger space and price advantage compared to similar sized but far more expensive homes much nearer to the KL city centre. Always note that urbanisation is continuing and there’s no way that everyone would be able to keep paying ever higher even if they have the advantage of distance. Oh yeah, a good friend’s currently renovating her new landed home in Semenyih and she intends to move in just after Chinese New Year. Happy loving your home, anywhere they are.
written on 2 Feb 2018
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