KUALA LUMPUR – Safety and security comes first to house buyers in their list of criteria when deciding on a purchase.
According to Savills Malaysia managing director Datuk Paul Khong, buyers are demanding for more especially in a buyer’s market and they have a long list of wants.
“Lifestyle and themed developments, green concepts and energy-saving devices, water efficient fittings and security features with state-of-the-art technological facilities are now part of the add-ons to the standard property factors of location, building quality, and general amenities.
“Buyers want a safe place to live and need peace of mind that their families and personal belongings are secure,” he says.
Considering that the loan repayment would take decades, buyers want some assurance that the house they are purchasing is secure.
“Security is a critical item in a property buyer’s final purchase decision,” says Khong, adding that although the data is inconclusive on whether the crime rate influences property prices, consumer trends suggest that crime is a determiner.
“Not much local research has been done on crime rates and property values, but we acknowledge that a correlation exists,” he adds.
Khong states that established gated-guarded developments such as Sierramas, Semantan Villa, Idamansara, Duta Nusantara, and Duta Tropika have been able to hold their values given their development concept and location.
“The security angle is included in the master planning of newer townships such as Eco Majestic, Setia Eco City, and Tropicana Aman. Even existing neighbourhoods like Sri Hartamas, Bandar Utama, and Sec 17 have put up guardhouses with 24-hour security, boom gates and fencing to secure the neighbourhood.”
To determine which project is suitable, Khong advises that buyers must first decide what are their main criteria when buying a property such as the property location, type of development, and budget.
“They should study their target property well, ensure that a Valuation Report has been done, and carefully review the title document,” concludes Khong.
