Kuala Lumpur, 6 March: Knight Frank Malaysia, the global property consultancy held its first collaborative event with property developer, S P Setia on 1 March 2017. With the recent launch of Knight Frank’s research report Real Estate Highlights for 2nd Half of 2016, experts share their insights on the market outlook on high-end condominiums / serviced apartments and provided an overview of Setia Sky Seputeh. The private event saw the attendance of 40 guests held at Setia International Centre.
The speakers of the night were Kam Tek Kong, Deputy General Manager of S P Setia Bhd Group and Sarkunan Subramaniam, Managing Director of Knight Frank Malaysia.
Kam Tek Kong said, “Setia Sky Seputeh is glad to collaborate with Knight Frank (Malaysia) Sdn Bhd and arrange an exclusive evening such as this. We hope that the guests enjoyed the evening and took away some valuable insights of the property market as shared and also information on our latest luxury condominium project, Setia Sky Seputeh in Seputeh, Kuala Lumpur”.
Sarkunan Subramaniam shared insights on the market outlook on the high-end condominium / service apartment market in Kuala Lumpur.
He said, “The market will continue to self-correct. Potential buyers adopt the ‘wait and see’ attitude due to concerns of a slowing economy, weaker job prospects, sharp fall in the Ringgit, amongst other factors. Budget 2017 announces that the stamp duty rate for real estate worth more than RM1 million will be increased from 3.0% to 4% effective 1st Jan 2018. This may boost sales of million ringgit homes before 2018 as people will be rushing to purchase the property before the increase of stamp duty. Developers will continue to introduce more creative marketing strategies, the S P Setia 10:90 scheme is one of them which successfully attracted more buyers.”
The event closed with dinner and lucky draw. Some of the lucky guests walked away with mystery gifts prepared by S P Setia.