With the increasing cost of living, especially among KL urbanites, youngsters nowadays are finding it increasingly difficult to own their first home.
All is not lost, however, as there are still residential projects being launched within the RM250,000-RM350,000 range! Granted 3 of these schemes are under the RUMAHWIP banner (In 2013, the Federal Government introduced an affordable housing scheme for first time home buyers known as RUMAWIP) while one is being built on Malay reserved land. *Refer to the guidelines at the end to determine if you qualify for this scheme.
And nope, these homes are not tiny ones either, with the exception of the fourth recommendation, all of them are at least 800 sq ft!
In this edition, we recommend 4 neighbourhoods and affordable projects within Klang Valley you should definitely take a look at if you have dreams of climbing up that homeownership ladder.
Setapak is a township located just a stone’s throw away from Kuala Lumpur City Centre. It is perhaps most well-known as a ‘students’ town, considering the many educational facilities tucked within including TAR University College, Universiti Tunku Abdul Rahman (UTAR), International Islamic University Malaysia (IIUM) and Open Universiti Malaysia (OUM).
The myriad of institutions could be the main reason why capital appreciation and rental yield in this township is at an all-time high. One RUMAHWIP project in Setapak is Sky Awani 3 by SkyWorld.
There are 1,905 condominium units, spread across 3 towers, measuring 800 sq ft and priced at RM300,000 each, regardless of the unit position and floor location; Some units even enjoy a KLCC view! Another development worth looking at is Vista Langkawi @Residensi PV18, Setapak Lake City which is also priced at RM300,000.
Setapak enjoys great public transport accessibility as it is served by 3 LRT stations; LRT Wangsa Maju, Sri Rampai and Setiawangsa as well as the newly completed Conlay MRT station.
Salak South may not be on most home seekers’ radar due to its industrial background. In the 1970s, the township first grew with the development of various factories and industrial establishments.
Salak South has since flourished with the introduction of landed homes and high rise condominiums. It is well connected by a variety of public transportation hubs such as Salak Selatan LRT Station and KTM Salak Selatan and is also within close proximity to popular suburbs such as Taman Desa, Cheras, Pudu and Brickfields.
The community in Salak South is predominantly Chinese. You will notice a number of Buddhist temples and churches there; one of the most prominent one being Church of Our Saviour located in Salak South Baru. Our pick in Salak South is Ritz Communities, a project undertaken by Poly Ritz Development Berhad. The 1,120-unit development consists of beautifully laid-out 3-bedroom, 2-bathroom apartment and will only be a 5-minute walk away from the upcoming Kuchai Lama MRT station (Line 2).
These apartments, measuring 800 sq ft and comprising of 3 bedrooms and 2 bathrooms, are going for RM300,000, most suitable for first time home buyers. Those who make their move to purchase now will obtain a complimentary air-conditioner and water heater (1 unit each).
Taman Desa is a residential borough located a stone’s throw away from Kuala Lumpur City Centre. The township is a concentration of mostly middle to upper-class condominiums. Due to its strategic location, it is flanked by upper suburbs such as Seputeh, Pantai Dalam and Mid Valley City.
The proposed MRT3 line will have a station in Taman Desa linking from the Taman Midah MRT interchange (Line 1). Commercial institutions such as banks, restaurants and medical facilities are in abundance throughout Taman Desa. One notable affordable housing project in the neighbourhood is Residensi Desa Satumas.
Spearheaded by Aset Kayamas Sdn Bhd, Residensi Desa Satumas is offering apartment units measuring 850 sq ft for RM230,000. However, this development is pretty high density as there will be 3,002 units spread across 7 blocks. Each unit comprises of 3 bedrooms and 2 bathrooms, supplemented by 1 carpark.
KAMPUNG PENCHALA, TTDI
Without a doubt, Taman Tun Dr Ismail (TTDI) is one of the most sought-after addresses in Klang Valley, surrounded by suburbs such as Bandar Utama, Damansara Uptown, Damansara Perdana and Petaling Jaya.
With only less than 10 minutes to malls such as One Utama, IPC Shopping Centre, The Curve and Empire City, shopping will be a breeze for those who live here. Other popular hotspots located within a 10km radius include IKEA, Encorp Strand Mall, Atria Mall, Damansara City Mall and Tropicana Golf & Country Club.
If you are travelling by car, highways such as LDP and SPRINT provide great connectivity. The recent introduction of Rencana Royale by CK East Group aims to lighten the burden of first time home buyers, as it offers premium residential units at affordable prices. However, this project is being built on Malay Reserved land, hence sale is only open to Bumiputera purchasers.
Spread across 2 acres of land, the project is priced from only RM282,000 for its 472 sq ft studio suites. There will be a total of 622 units available divided between 2 blocks at 13-storeys each; the studio suites comprises 60% of total units.
The development is expected to be completed sometime in 2020 and the maintenance fee is set at RM 0.35 per sq. ft. At this price point, the development is a catch – it offers residents various facilities including an infinity sky-pool at level 12A as well as a wading pool, playground, business meeting rooms, multipurpose hall, BBQ pits, game rooms and a viewing deck.
Terms & Conditions for purchasing RUMAWIP
- Gross household income does not exceed RM10,000 for individuals and RM15,000 for married couples (combined income).
- Within 10 years of purchasing the property, you are not allowed to sell the property or transfer ownership to others, except the case where the transfer is to your spouse of children.
- The purchased property must only be for own stay only and must not be rented out.
- Potential buyer must not be declared insolvent before and each buyer will only have the chance to buy 1 unit per household.
- Priority will be given to those who are currently working and staying in Wilayah Persekutuan and are first time home buyers.
*Article written by Allen Phua and edited by Reena Kaur Bhatt.
Those who are on the lookout for dream home and property investment strategies in 2018 should drop by the MyTOWN KL Home & Property Investment Fair this weekend at MyTown Shopping Centre. Our list of speakers includes Max Shangkar, Charles Tan and Dr Daniele Gambero. Those who pre-register for the event will be entitled to a complimentary iProperty.com neck pillow. Just present the confirmation email to our friendly staff. Register here and we shall see you there!