Expectations
We all have our favourite townships and many would refuse to move out from their old home into a newer one, regardless how attractive. My good friend, Miss J managed to convince her husband to move out from their mature township, as their new abode is just a 15-minute drive from his office.
Nevertheless, her husband misses their old borough dreadfully. The reason could be summed up in one word, familiarity. He misses his favourite restaurants and shops, his old childhood friends and even his old-time car mechanic.
Another good friend, Mr W moved from Penang island to the mainland many years ago. When I asked if he would move back, his answer was ‘no way’. Commute wise, he requires an extra 20 minutes daily to reach his office in the Bayan Lepas industrial area. Nevertheless, his mainland home is more than double the size of his island home. Despite this, the former was still cheaper than the latter. Size and price were his deal clinchers, commute time is now secondary.
When I then enquired about his favourite restaurants, he laughed and replied that good food can be found everywhere. He did not know where the good eating spots were at first, but over time he has discovered many fantastic eateries nearby his new area.
Making townships attractive
There is not much to discuss when it comes to mature townships, as these areas would have welcomed many new additions and conveniences over the years. However, purchasers’ expectations for a new settlement are something that developers need to be savvy about. There are many potential buyers who consider distance as a deal-breaker. When marketing a suburban township, the developer must clearly deliver the message that a further distance from the city centre does not necessarily mean an inconvenient daily commute.
They could play to the advantage of upgrades in transportation infrastructure and road networks. For instance, developers could build a new road linking the township to an expressway or provide transit buses to the nearest MRT station. Besides that, the provision of comprehensive conveniences is necessary, developers have to go beyond the basic necessities – think kid-friendly playgrounds and walking/jogging tracks.
Developers could also host free events to attract families and friends to drop by the township for a visit. It is during these activities that developers should show and explain to homebuyers how appealing the township is, besides allowing them to experience what it will be like living there.
Potential
Convey to homebuyers the potential of these new townships. The first few years will always be the hardest, as the construction of new phases will still be underway. The developer must explain on the exciting projects and developments which residents will see over the next 5, 10 or 15 years – malls, schools, parks, etc.
Mature townships will continue to appreciate in prices because they could not be expanded further. Newer townships are here to stay and more are mushrooming every other day. Affordability is the driving factor for homebuyers, besides a better quality of life. In fact, many of today’s most liveable townships were once swamps, secondary forests or mining fields. Enjoy your township, whichever is your favourite today.
Connect with Charles at https://kopiandproperty.com