The traditional and golden rule of property investment “Location, Location, Location” is still applicable today even though many experts have tried to come out other version of advice. Without the blessing of good location for your property, you probably wouldn’t go far in your adventure in property investment. This is especially important if you are choosing for high rise condominium properties.
My theory for choosing high rise condo properties in the Klang Valley or Iskandar is simple, “Location x3” is my advice to you, but what do I actually mean by it? I will interpret further to make it easier for you to understand.
Location, Location and Location
My first criteria of Good Location is your condominium should not be too far away from the city centre. Ideally it should be within 5-15km from Kuala Lumpur City Centre or other high profile areas, i.e. KLCC area, Mont Kiara, KL Sentral, Sentul or Bukit Jalil are some good examples. If your condominium is nearby high profile area like Mutiara Damansara, then you would probably won’t go too wrong at your choice as well.
Once you fulfill the first criteria, the second criteria is Convenience. It is a bonus if your condominium is located nearby a good shopping mall and other crucial amenities. The word convenience also encapsulates the availability of public transports like MRT, LRT and the ease of driving in and out from it.
The third criteria for a Good Location is the level of livability of your condominium. For example, how is the neighboring communities? Whether the noise level is tolerable? Is the surrounding areas pleasant to look at when you are traveling in and out from your property? Is the built-up size livable for local people?
As you can see “Location, Location, Location” doesn’t mean that I am reiterating the importance of it, but there are 3 levels of depth to assess. I don’t recommend buying a condominium that is very far away from city area or other high profile areas like Damansara.
The main reason is you want to ensure your condominium can achieve a good occupancy rate which I think it’s the most crucial factor in property investment in terms of risk mitigation.
Of course, choosing a condominium is more than just thinking about location, affordability, reputation of developer and other factors do play important roles as well.
Unfortunately, the developers nowadays are capitalizing on the craze of property investment in the country and selling their condominium project with future price, especially if they are located near the MRT line.
Next blog, I will pick top 5 condominium projects to watch out for in the Klang Valley for your reference purpose. Happy New Year 2016!
By James Chow
Read similar article: No-nonsense Property Investment Tips for 2016
Photos: Fennel Phase II of YTL , The Park Residence Bukit Jalil City