Property Investors Cautious and Looking for Next Hot Project

Property investors are doing due diligence on new projects to determine their viability.

The property market has been slow to awaken from its post-pandemic slumber with numerous issues affecting its recovery. Pre-Covid 19 issues such as supply overhang, especially in the residential sector, alongside the hot issue of abandoned and sick projects have left property investors slightly wary. The scenario is further exacerbated by acute manpower shortage as well as spiralling costs of raw materials, causing a massive a ripple effect in the construction industry.

However, some developers are beginning to see early shoots of recovery amidst all the doom and gloom reports. “We acknowledge that the property market is still sluggish but we are seeing healthy turnouts at our events and roadshows,” says Wendy Cheow, Marketing Director for HCK Group. “On-the-ground feedback indicate that property buyers are cautiously optimistic but are taking their time to make a decision. They are being more thorough before committing.”

Cheow also states that feedback from potential buyers indicate that a developer’s track record and reputation are key considerations given the negative headlines regarding errant developers. “Many view HCK Group in a positive light and although we, admittedly, have faced some issues during lockdown, we are committed to delivering quality products within reasonable timelines,” Cheow opines. “HCK Group’s reputation is a major pull for those visiting our sales galleries and roadshows.”

It can also be seen that many property buyers are doing more due diligence on upcoming projects to determine their long term viability. No longer content with ‘artist’s impressions’ and brochures to guide them, these would-be investors are looking at approved surrounding project as well to see how these will affect the overall value. But more pertinently, many are looking to land good value now before prices start escalating again, whether due to inflated construction costs or a rebounding property market.

Cheow backs this up with the number of enquiries on future HCK Group projects. These include the soon-to-be announced Hiijauan Broga and e-Damansara projects – the former set to offer incredible value for a series of landed villas while the latter will encompass multiple corporate towers. The Hiijauan Broga development will have a ‘Green Cities’ theme where nature and eco-friendly environment will be key attractions, given that it is located in popular hiking site that is Broga Hill in Semenyih, Selangor. A ‘Smart Cities’ theme will inform the e-Damansara development where the Internet of Things and digital applications will add to a modern convenient lifestyle.

The Harvard Suites at the edusentral development in Setia Alam, Selangor is another project that Cheow is keen to highlight. Noting potential buyers need to properly assess the viability of upcoming launches, HCK Group organised a special preview recently for the high rise residential tower. The number of interested parties that showed up was indicative of the upswing in market sentiment and this is something HCK Group is keen to capitalise on.

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