I love those videos which people forwarded tome showing how innovative people could be with small spaces. A tiny flat which can fit double of what it should usually fit and more. However, if you ask about these innovations, I would seriously tell you that for Malaysia, this is not going to be something which is very important within the next ten years. Greater KL is a huge plan for a huge area and there are still huge opportunities to build much bigger units than to concentrate on just the small ones lie what is happening in Hong Kong today.
Hong Kong has around 7.2 million population today for an island. The total size is 1104 square km. Greater KL meanwhile has around 6 million population and the overall size is 2,793.27 square km. Look at the numbers again. We definitely do not yet need to be so awesome with these innovations with small spaces yet. One day, I am very sure we would. Perhaps during my children’s time. That should be earliest. If we are a parent today, do we really want our children to stay in a small unit? How would they get a partner, get married and have kids? Sorry, I remain a traditionalist for this. I look forward to the day when I hold my grandson in my arms with tears flowing down my cheek. Haha. VERY far away still.
Recently, a colleague bought a SOHO unit recently and asked me about my thoughts. I told him that SOHO would be easy to rent out especially to office professionals which are ‘storming’ into KL after their graduation. However, please do not think all SOHOs would be worth over RM500,000. There are lots of secondary choices below RM500,000 and bigger too. If the prices kept going up non-stop, I think it’s more of speculation rather than anything else because Greater KL is definitely not a small island with a huge population density like Hong Kong. Sorry, not even for a so called great location.
Be reminded that the number of desirable areas are going to increase with more MRT and LRT stations and not less. Due to the high demand for the few hotspots, the prices would keep going up and it will just start a bubble awaiting to burst. To those who kept believing that prices for these hotspots would not just hit the clouds but also the sky or even the moon, I wish you all the best. I still hope that you would gain from your property investment. Happy ‘innovating’ with small units if you only love these small homes.
written on 24 Nov 2015
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