Product Highlights

LBS Alam Perdana, Ijok

• Alam Perdana, LBS Bina’s upcoming township, in Ijok, Selangor is being built jointly with the Selangor state government. It will see up to 10 parcels of land developed for the affordable housing initiative “Rumah Selangorku” and the 1Malaysia Civil Servants Housing Programme.

• Situated within a 470-acre township, homebuyers will enjoy various amenities such as clinics, schools as well as recreational facilities.

Gamuda Gardens, Rawang

• The 800-acre Gamuda Gardens is a 15-year mixed development located in Rawang, Selangor. Leveraging its natural surroundings to enhance its appeal, the township is being built with the preservation of nature in mind, offering cascading waterfalls and housing such as lakeside homes as well as hilltop houses.

• The latest launches, Lavena and Nara, are doublestorey-linked houses, offering 3 – 5 bedrooms in a gated community. Homebuyers can expect a wide range of recreational and sports facilities in the township. Accessibility to Gamuda Gardens is convenient via highways such as the Guthrie Corridor and PLUS Highway or via KT

City of Elmina, Shah Alam

• Sime Darby Property has launched new superlink and double-storey homes, Liana and Ferrea, as part of the Elmina Gardens and Denai Alam estates in their 5,000- acre City of Elmina.

• Aimed at promoting healthy living, Liana and Ferrea offer dedicated community gardens as well as planter boxes/herb gardens to encourage homebuyers to plant their own greens.

Financing

• The property developers are currently offering rebates of 2% – 10% for selected units. Other financing incentives that developers are offering include payment of down payments in instalments as well as exemption of sales & purchase agreement and loan’s legal fees.

Market Response

• LBS’s Alam Perdana township has fared well with an estimated take-up rate of 90%, attracting first-time homebuyers particularly.

• We understand that there are some foreign investors, from China and Singapore particularly, that have taken an interest in the Gamuda Gardens launch, contributing to the 50% take-up rate.

• Launched in November 2017, Sime Darby Property’s launches have chalked up an estimated 75% take-up rate.

The Big Picture

• We believe that the market has continued to respond favourably towards selected township launches, especially for landed properties such as linked houses.

• Given that matured areas such as Petaling Jaya have inflated prices for landed properties, the move away from the city to areas such as Rawang and Puncak Alam has allowed developers to price their projects more attractively.

• We also find that developers are operating more wisely by introducing newer launches at a slower pace and in smaller number of units which help generate momentum as well as a better gauge of demand in the market.

Source: AmInvest Research - 9 Jan 2018