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theSun ON FRIDAY
|
APRIL 29, 2016
Malacca
charm
>Residential property outlook andplans for theprogressive state
T
HERE
is a lot to come for the
state of Malacca, especially
with theMoU signed
between Chief Minister
Datuk Seri Idris Haron and China’s
Guangdong province governor Zhu
Xiaodan late last year. Days before
the signing, sevenMalacca state
government companies and
agencies had signed agreements
with seven companies from the
Chinese province.
Besides strengthening bilateral
ties, there are plans to construct a
Maritime Industrial Park, the
Guangdong-Malacca Industrial
Estate (manufacturing electrical
consumer goods), establish a deep
sea port, and reclaim land for trade
and commercial purposes.
With all this exciting news and
business investments for the
“Historic State”,
theSun
looks at the
real estate scene in the once
unhurried and placidMalacca.
SOUGHT AFTER
Located just 10kmaway from
Malacca city centre is Taman
Malim Jaya (TMJ). A
neighbourhoodwith themost
number of property transactions
recorded between the period of
January to September 2015, TMJ is
located in the township of Batu
Berendam. The second housing
estate nearest to the city after
Ujong Pasir, TMJ offers a variety of
homes via condominiums,
apartments and terraced houses.
Strategically located, the
township is amere 15-minute drive
from theMalacca International
Airport and the city’s central bus
station. Amenities are aplentywith
the famedGiant hypermarket and
Malacca Jusco shopping centre
situated nearby, bothwhich draw a
crowd to the townmost weekends.
Known for its historical past and
being a coastal state, many tourists
and big-city dwellers, including
Singaporeans, flock theMalacca
city centre where there aremany
tourist attractions and historical
places of interest. This has caused a
hike in vacation rentals, homestay
lodgings and cosy boutique hotels
that often reflect theMalacca
lifestyle of old, especially that of the
Baba Nyonya heritage. Visit
Malacca during the weekends and
youwill understandwhat draws
the crowd. From the quaint-looking
F&B and retail shops to the places
that reflect the history of Malaya,
the British rule, the Portuguese and
Dutch settlers, all that goway back
in time. Today, as in times of old,
Malacca beckons with all its
charms.
TOP 10 AREAS IN PRICE
According to
brickz.my, the area
with the highest average price (per
sq ft for residential properties)
during the same periodwas
Klebang, recorded at RM184 per sq
ft. A coastal town on the southern
shoreline of Malacca, Klebang is
just about a 10-minute drive away
fromMalacca city centre. This is
also the townwhere the Submarine
Museumand 1Malaysia Square are
located in.
LOCATION AVERAGEPRICE
PERSQFT (RM)
Klebang
184
Malacca City
158
Bukit Baru
138
Cheng
136
Batu Berendam
134
Balai Panjang
122
Bukit Katil
119
TanjongMinyak
105
Krubong
105
Some developments in this area
include Listari Marina’s mixed
development project, Asia Homes’
Impiana Klebang and Faithview
Group’s Taman Klebang Utama.
After Klebang, Malacca City is next
in line recording an average price
of RM158 per sq ft, followed by
Bukit Baru at RM138 per sq ft.
Comparing landed to non-
landed residential property in
Malacca between January and
September 2015, the number of
transactions for landed property
(1,643) outnumbered that of non-
landed (412). The average price of
residential property during the
same periodworked out to RM108
per sq ft for landed property and
RM154 per sq ft for non-landed.
RESIDENTIAL OUTLOOK
IN A SWEEP
SaidHatten Properties Sdn Bhd
head of sales andmarketing
Cassandra Tio (
pix
) at a recent
property expo: “One of the first
things that people need to
understand about Malacca is that it
is a UNESCOWorldHeritage site
which has big bearing on the boom
and interest in property
development in the area. It is also
now a top revenue generator for
the countrywith all the places of
interest causing tourism to pick up
and funds to pour in. Other than the
current investors we have, we
[also] see a growing generation of
amateur investors whowant to
enter themarket.”
This has a positive impact on
the country. The state also has one
of the fastest-growing economies
inMalaysia in terms of gross
development value. Moreover, the
TRANSACTIONS
MALACCA RESIDENTIAL LANDED TRANSACTIONS AND AVERAGE PRICE PER SQ FT (January - September 2015)
AVERAGE PSF (RM)
240
180
120
60
0
240
180
120
60
0
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Transactions
Average psf
TRANSACTIONS
MALACCA RESIDENTIAL NON-LANDED TRANSACTIONS AND AVERAGE PRICE PER SQ FT (January - September 2015)
AVERAGE PSF (RM)
80
60
40
20
0
180
135
90
45
0
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Transactions
Average psf
FaithviewGroup property
in Taman KlebangUtama.
PHOTO: WIKIPEDIA/ KENWALKER KGW@LUNAR.CA
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