For anyone who are tracking the property developments in KL last few years would have realised on the shocking high density developments spread across Klang Valley. Many of these approved projects are totally deviated from the rightful plot ratio. All thanks to the lenient and unthoughtful practices of previous government.
The higher plot ratio which gives the avenue for developer to provide high density product, by right, should translate to lower property price tag. However, is it sustainable in long run? Is the property livable?
Thank god that it is now back to right track as the plot ratio plays a big part to improve the living standard of citizen. Those projects with 3-4k units should not be there in the first place and ownstayers and investors must know the implication of plot ratio to their properties. PROPCAFE is here to share why you need to worry about it.
1. High plot ratio means high density i.e more units will be built within the parcel. Bad! Number of unit per acre will shoot up for sure! Beehives and Concrete jungle!
2. Expect high ratio of lift sharing ratio. Wait x 3 for your turn!
3. High number of human traffic at common area like facilities. Crowds!
4. High usage of facilities means maintenance costs will go up. The common area will run down faster! Headache to maintain!
5. More units equate to more competitors for investors to rent or sell the units. Imagine few thousands units. OMG. Not to say 70pc (likely nowadays), even 50pc investors will make you crazy. Throw price x 3! Buy cheap (due to high density) and sell cheaper! Aiyo!
6. Tenant quality will go down the hill due to the competition and desperate buyers. It may make your dream home evaporate! Scare in the lift or at home??
7. If only one guardhouse, make sure your guards are efficient! The visitors registration and queue to get in and out will be nightmare. Queue x 3!
8. Malaysian loves car. Surely visitors carpark will be full with cars if developer does not give enough to buyers and designated visitors carpark bays. Parking dilemma to your visitors!
9. The development will affect the surrounding access roads if it is not sufficient to cater the traffic. Stuck and jam. See your home but so near yet so far!
10. Imagine it is influx with airbnb operators. 1000-2000 airbnb wannabe out of 3000 units there will make the property as a tourism attraction 🙈. Imagine the lobby, lifts, swimming pool, gym etc. Lugguge bags and items moving in and out!
You may now see the impact of the consequences due the high plot ratio. Don’t play play! Next time, when you go to sales gallery please ask about the plot ration and watch out the density before you put your hard earn money there!
You may read the Plot Ratio news and Part 1 below.
https://www.theedgemarkets.com/article/dbkl-caps-plot-ratio-developments-capital-city
PROPCAFE™ Diary: Capping of Plot Ratio. Does it matter? – Part 1
Happy Reading and Ciao!