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Developers End2018ona Cautiousnote

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Developers End2018ona Cautiousnote 07 Feb 2019 New Straits Times, Malaysia Author: No author available • Section: Property Times • Page: 30 Printed size: 758.00cm² • Region: KL • Market: Malaysia • Photo: Full Color Item ID: MY0035044815 Provided for client's internal research purposes only. May not be further copied, distributed, sold or published in any form without the prior consent of the copyright owner. Page 1 of 2 LOCATION AND NUMBER OF PROJECTS LAUNCHED LAST YEAR Sentul =1 Setapak =2 Highrise =500 -850 Highrise =300 -500 Jalan Kuching =1 Wangsa Maju =1 Highrise =450 -500 Highrise =600 -700 Segambut =1 Highrise =350 -400 Developers Dutamas =1 Highrise =800 -900 City Centre =1 Mont Kiara =3 Highrise =900-1000 Highrise =660-1500 end 2018 on a Damansara Heights =1 Highrise =800-1000 Ampang =1 Highrise =1600 -1700 Bukit Bintang =1 cautious note Highrise =1900 -2100 HE year 2018 appearstobeaperiod …the Taman Desa =1 wherehousing developers in Kuala market Landed =700 -800 Lumpur adoptedamorecautious Tapproach in launchingnew projects. sentiments OUG =2 Basedonthe data compiled by us,wenoted were weak and Highrise =350 -550 that therewas asignificant dipinthe number of developers were newprojectslaunchedinthe firstninemonthsof Cheras =2 last year compared to thesameperiodthe year still trying to Jalan Klang Lama =1 Highrise =500-1000 before. clear the unsold Highrise =850-1200 Ourrecords showedthattherewasatotal of 36 Bukit Jalil =1 newprojectslaunchedinthe firstninemonthsof stockcarried Highrise =700 -800 2017,but forlastyear, therewas adrastic decline forward from of about 42 percenttojust21new projects. projects launched In termsofnumberofunits,the drop waseven morepronounced. Ourrecords showedthatthere in the previous five newlaunchesinJunetolatch onto thefeel- were27,693unitslaunchedinthefirstninemonths years. good factor afterthe election whichunexpectedly NEW PROJECT of 2017,but thenumberdeclinedtoamere10,745 resulted in achange of government. LAUNCHES BY LOCATION units in thesameperiodlastyear, adropofabout Thepaceofnew launches, however, wasnot 61 percent. sustained andslowed down throughJulyand Kepong 73 Mont Kiara Thedropinthe number of newlaunches is, August.Septemberwas themonth with themost Bukit Jalil 32 Setapak however, notunexpected as therewerealot of number of newprojectslaunchedin2017whereas uncertainties in thefirst half of theyearleading in 2018,the honour went to themonth of March. Wangsa Maju 22 Cheras to andimmediately afterthe 14th GeneralElec- Zoominginonthesizeoftheunitslaunched,we Kuchai Lama 22 OUG tion (GE14) anddeveloperspreferred to erronthe notedthatin2017, mostofthe unitslaunchedhave side of caution. built-up areas of between800 and1,000 sq ft (24 Sungai Besi 21Wangsa Maju Furthermore, themarketsentiments were units)and between1,001 and1,200sqft(20units). Cheras 21Bukit Jalil weak anddevelopers were stilltryingtoclear Housing developers maintained this formulalast theunsoldstock carried forwardfromprojects yearasthe unitslaunchedduringthisperiodwere Kampung Baru 21Jalan Kuching launchedinthe previous years. also within this rangeofbuilt-upareas. KL Sentral 21Segambut Newprojectslaunched in land-scarceKuala Thesesizes arequite standard forup-and- Lumpur aretypically strata residential proper- coming condominium andservice residence Semarak 11Bukit Bintang ties with condominiums andservice apartments projects as they areaimed at smallerfamilies or Jalan Sultan Ismail 11City Centre formingthe bulk of theunits launched. even as an investment piecegiven theprojects’ Forfirst quarter(Q1)tothirdquarter (Q3) of locationsbeingwithin thecitycentre. Setapak 11Sentul 2017,our data revealsthatall the36projects In termsofpricing,our data revealed that Bangsar South 11Damansara Height launchedwerestrataproperties. Thesamepat- approximately 42 percentofthe newprojects ternwasobservedlastyearalthoughinterestingly launchedinthe firstninemonthsof2017offered Jalan Tun Razak 11Taman Desa therewas one terracehouse project launched units priced at RM600,000 andbelow whereas Ampang 11Dutamas duringthatperiod. thefigure dipped to only 28 percentlastyear. 20 In termsofresidentialtypes, condominiums percentofthe projects were availablewithin the Sentul 11Ampang andservicedapartments,notsurprisinglyfeature RM800,000to RM1million andRM1 millionabove KLCC 11Jalan Klang Lama prominentlyfor developers forbothin2017and brackets, respectively. last year.In2017, 38 percentand 44 percentof We alsonotedthatahighernumberofprojects Sri Hartamas 1 theprojectswereofcondominiums andserviced launchedlastyearwereathigherprice points of Desa Park City 1 apartmentsrespectively whilelastyear, asimilar RM1million andabove (31per cent last yearver- trendwas observed as 33percentofthe newpro- sus 20 percentin2017). Taman Desa 1 jectswerecondominiumsand about43per cent Atthesametime, 19 percentoftheprojectshad Old Klang Road 1 were serviced apartments. units within theRM800,000 to RM1million price However, therewerenoSoHo/SoFo/SoVo/ Bandar Manjalara 1 bracketand 22 percentwithin theRM600,000 to 2017 launches Solo projectslaunchedlastyear, as opposedto RM800,000 bracket.Thiscomes as asurpriseas Segambut 1 2018 launches twoprojectslaunched in thepreviousyear. themarketsentiments were generallystillweak Thefirst threemonthsof2017revealed apat- last year. INFOGRAPHIC NST tern of agradual monthly increaseinterms of Nevertheless, it has to be remembered that number of newlaunches. However, last year the land available in KualaLumpurfor development persqft, and12projects(27 percent) with prices number of newproject launchesdeclinedfrom arescarceand more expensiveand as such,the belowRM500 persqft. JanuarytoFebruary, andthenspiking back in pricesofthe houses launchedhad to commensu- Location-wise, theformerminingtownshipof March, making it themostactivemonth with six rate with thehigherlandcost. Kepong appeared to be developers’areaoffocus project launches. ForQ1toQ32018, therewere10projects(36 in 2017,withsevenbrandnewprojectsinthe area, Nevertheless,thiswasshort-livedasdevelop- percent) offeringunitspricedatRM751 to RM1,000 followed by Bukit Jalilwiththree projects. Last erstookastepback forthe next twomonthsas persqft, followed by eightprojects(28 percent) year, theinterestseems to have shifted to Mont thenumberoflaunchesplungedinApril andMay, offering unitspricedatRM501 to RM750per sq ft. Kiarawiththree projects, followed closelyby possibly duetothegeneral lack of interestto make This differsfromthe previous year,asthere were Setapak,Cheras andOUG with twoprojectseach. substantial financial commitmentsprior to GE14. then 15 projects(34 percent) whichoffered units Developerscameback to themarketwith at amorereasonablebracket of RM501toRM700 StorycourtesyofHenry Butcher Malaysia 07 Feb 2019 New Straits Times, Malaysia Author: No author available • Section: Property Times • Page: 30 Printed size: 758.00cm² • Region: KL • Market: Malaysia • Photo: Full Color Item ID: MY0035044815 Provided for client's internal research purposes only. May not be further copied, distributed, sold or published in any form without the prior consent of the copyright owner. Page 2 of 2 SUMMARIES THE year 2018 appears to be a period where housing developers in Kuala Lumpur adopted a more cautious approach in launching new projects. Based on the data compiled by us, we noted that there was a significant dip in the number of new projects launched in the first nine months of last year compared to the same period the year before..
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