Next Property Hot Spot (Part I)

In a series of post, I would like to share my views on where would be the next property hot spots and the reasons behind them. This might help those looking for affordable houses to stay but at the same time does not want to move far away from the Klang Valley.

1. My 1st criteria that I've set is that the house must be RM300k and below. Reasons behind this is that I think with both husband and wife working with a pay of RM2k each, they certainly can afford this house price. You can try the property affordability calculator to determine your own property affordability.

2. Houses or projects that I will examine will be new developments or newly completed projects. Reason will be its easier to compare new developments rather than comparing the secondary market or sub-sale house prices. Prices of secondary houses differs because lots of reasons. Therefore I would stick to this criteria as it will make this discussion straight forward and simpler.

3. Houses that I will look into will be double-story link houses preferably with built ups of more than 1600 square feet. Most of new developments will include double-story houses because this is the most popular choice among buyers. So there are abundance of projects that I can compare with so there will be more choices.

4. Criteria that I think of most importance is accessibility. In simple terms, if you stay somewhere in Cheras or Subang Jaya (prime areas) and you will need to leave your house everyday at 6.45 every morning in order to get to your office by 8.30 a.m., would it make more sense to move further away from Klang Valley where you can afford cheaper bigger house but because of good accessibility, you still can leave the house at 6.45 a.m. and reach your office in KL by 8.30 a.m.? Which would you prefer? Staying in prime areas but you can only afford a small house or even worse only an apartment or stay in less prime area (currently) but you can afford bigger house?

5. With the deteriorating traffic conditions in Klang Valley, I believe more and more will switch to public transportation once the system becomes more reliable. There seems no sign of relief on what would be the solution to this evergreen problem. Plans of extending the current LRT lines has been on the board for a few years now but yet nothing concrete has materialised. Of course if this project is realised, it will certainly has an adverse effect on property prices in locations such as Cheras, Putra Heights, Kota Damansara and Subang Jaya. Some reports suggest that the project will be ready by 2013. But lets not depend on something that haven't materialised. See map below for the proposed LRT extensions.
6. I look at Keretapi Tanah Melayu Berhad (KTMB) for solution instead. Since February 2009, Keretapi Tanah Melayu Berhad (KTMB) has begun its shuttle service between Seremban and KL Sentral. This shuttle service will only stop at 6 stations during peak hours compared to 14 by KTM komuter service. The stations are Seremban, Nilai, Kajang, Bdr Tasik Selatan, KL Sentral and KL train station. KTMB has also begun its shuttle service from Ipoh to KL Sentral since April 2009. It also has selected stops which include Rawang, Sg Buloh, Bank Negara and Kepong Sentral among others.

7. Unlike the common complaints about punctuality of KTM Komuter services, shuttle services don't have this kind of problem. I've experienced it first hand while travelling back from Ipoh to KL Sentral using this shuttle service. As promised, 3 hours on the dot I arrived at KL Sentral. The good news is currently the shuttle service is operating using refurbished coaches. When the new coaches start operation, I would expect the shuttle services to be faster and better. The better news is that the fares for this service is the same as KTM Komuter. So why choose Komuter when Shuttle is better? Refer to KTMB's website for more info.

8. Check at KTMB's website indicate that if you board the Shuttle from Kajang at 7.32 a.m, you will arrive at KL Sentral at 8.02 a.m. If you board the Shuttle from Sungai Buloh at 7.30 a.m., you will arrive at KL Sentral at 7.57 a.m. From there on, I do believe its possible for you to reach to your office by 8.30 a.m.

9. With the reasons elaborated, I pick Kajang and Sungai Buloh to be the next property hot spots. Even though Kajang, if not is already considered as a prime area, there are still new houses that meet the criteria that I've set above. Not many would want to live in Sungai Buloh, but in the next post, I would pin point a few projects in Sungai Buloh that you might want to consider buying. Last but not least, these areas are not only connected by trains. They are also accessible via highways. So if you still choose to drive, they are not badly connected after all.