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Condos within a mature neighbourhood for older and younger folks.

Do you think in future, even more older folks may prefer to stay in a condo instead of their current landed home? For my parents, I do not think so. Perhaps the likelihood of either my brother or me working in Ipoh and staying with them is far higher than for them to move to Penang to be with my brother or to KL to be with me. This may not be true for everyone. I was seated at the lobby area of a condominium in Penang island yesterday morning waiting for my CEO to pick me up for breakfast. He was late because Penang had its worst flood for a very long time happening today. One uncle gave me a smile and sat down opposite me. Probably 70 plus years old. Shortly another uncle came and they started to chit-chat before one of them left for breakfast with his son. The other uncle went back to his unit I think.
Soon after, two aunties sat down. Probably in their 60s. They started with the rain topic and moved on to their grandchildren stories. From the way they chat, you would know they have been friends for some time. You know what, I think this will be more common in future. They may have their homes nearby but their kids may prefer condo living and bought nearby so that both could stay nearby and yet separated. Let us be honest, both may not see eye to eye on every matter but family relationships will always form a strong bond. True? This is one major reason why condos built in mature neighbourhood can still sell well and could usually fetch better premiums compared to some newer and further away areas. In fact the buyers would usually be related to the people with the mature neighbourhood. They have friends, relatives and even favourite hawker food stalls there.
This is happening despite the daily jams into and out of the area due to narrow roads which were built to cater to much smaller populations, they are not bothered. Oblivious to it even. However, as soon as they drive a little further, even with similar duration, it’s a huge hassle. Anyway, this situation is only applicable when the younger ones are working in the same city as their parent’s home. My parents still prefer their home in Ipoh. All their friends are there. KL will always be a ‘stranger’ to them. Another real example, my aunty who wishes to retire in Ipoh and has been staying in condos for a very long time has just bought a condo in Ipoh less than 5 minutes away from her sister. (My mother)  She is not in favour of landed but she wants to be close by. My friends have asked me a few times if I would prefer landed. Frankly, if the landed has a club house and is gated and guarded with a proper strata title, yes, I would prefer it. Else, it will be a big sized condo for me instead. Well, in the future, when I grow old, I would hopefully be accepted to stay at my children’s high-rise. Happy thoughts.
written on 16 Sept 2017
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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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