One of the perks of my job is to be attuned to the newer construction projects coming up, especially those in an around the Klang Valley. Not only the mega projects, mind you but also the more niche ones including high end condominiums.
I've always thought - and in most instances, its a well founded one - that condos and the likes are amongst the best property investment you can make and it doesn't even matter where as long as the location is comfortably urban.
Nothings beats KL Properties , though, as this is where you can really watch your investment appreciate in value. I mean, who wouldn't want to experience being able to sell your condo at, say, twice the price you paid for it.
At the very least, the rental alone is worth the initial cash outlay you have to put in. Alas, through sheer neglect of future needs and mostly immaturity on my part, I squandered whatever chances I had in making some good buys.
After all, back in the mid 90's, I was living and working in Kuala Lumpur as a young executive. Of course, being someone which was not the son of a somebody, I was pretty much awashed with awe of the big city lights.
Made pretty much the lousy kind of mistakes many young immature men made, and instead of making the kind of investment that grow, I instead blow my money on items which depreciate in value the moment you step out of the door.
Just the other day, I visited the Hampshire 2 condo - just behind Ampang Park - and impressed as I was with the whole project's execution, I couldn't help but think: "How on earth will ordinary young Malaysians be able to afford any property in KL?"
I mean, it's not like we are looking at the RM38 m, 14,000 square feet suite overlooking the KLCC kind of property, but the starting point of any property in KL would easily be in the half million ringgit threshold.
Are there still the kind of gems that's accessible to Mat, Ah Meng and Raju in not costing several arms and legs from three generations remove? I don't know, but I sure think that someone must have an inkling on the locations where these properties are still available.
I believe this same thinking prevails amongst those staying in the older (more slum-like) areas of KL.
If you happen to own a medium cost apartment in the heart of KL - or even close by - would you sell it off for profit? You could, but I seriously doubt you could get something remotely of similar value after that.
Nope, buying a property in KL is surely either a speculative purchase or a really long term investment. Pity, I didn't realise this early on.