Need for condo below RM300,000
Published on: Monday, August 03, 2015
Kota Kinabalu: It was opined by property experts that the Gen Y prefer to live in condominiums with minimum property maintenance chores. If so, there is a need for more condominiums priced below RM300,000 for the younger generations, since in the UK north of London, one can buy a strata home for less than RM400,000.To make that feasible, the floor space size of such average high rise of 40 storey-condominiums would need to be minimised between 600 square feet and 900 square feet and optimised for their lifestyle.
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The case of the 1Borneo condominiums in the state capital is a good available example of this segment of the market from property sales.Last Thursday, a unused corner unit Type B, Level 20, with a floor area of 900 square feet was sold for RM280,000 which is the market value stipulated by the valuer (VPC) dated July 24, 2014, a year ago.At this rate it is deemed affordable for young people starting out on a career.Previously a developer proposed for a 56 storeys condominium project with floor area of some 600 square feet which could be ideal for the young generations to start off with their first property investment.
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When we think of expatriates, most people would think of male Caucasians with families eager to rent great expensive home properties. However, companies in Asia are increasing hiring and reassigning Asians to manage their international business operations.
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