Investing, when carefully and meticulously done, can bring multi-folds back while a bad investment can do the contrast. Therefore, those wanting to invest must conduct a precise research before making a move.
It is much like playing chess, the wrong move can make a huge difference. The right move, on the other hand, can ensure a winning strike.
Recently, a property talk on how and where to invest was organised by Wee Aik Oh Realty alongside marketing assistance from HASB Consultants and AIMS Immigration Specialist. The talk was to allow its audiences to have a proper understanding of the property market in Kuching and how it appreciates along the years.
The talk conducted by a representative from HASB Consultants, Brandon, gave an insight on Kuching’s market based on data analysis obtained from the Sarawak Valuation And Property Services Department. The analysis which were from the year 2015 to 2018 revealed the appreciation percentages of several properties in Kuching counting on per square feet and its up to date transaction prices.
How to choose a property in Kuching to invest?
Brandon provided three sectors when choosing a property in Kuching. The sectors were property with main road visibility, property without main road visibility, and lastly, property complemented with commercial lots/shopping malls.
“As a property consultant, I noticed that at this point of time, there are a lot of condominiums in Kuching and a lot of investors have no idea on what kind of property they should invest in.
“Are these locations correct? Whether that location is a better investment? Or whether it will appreciate faster or slower? And why?” he said.
So why exactly do properties appreciate over the years? There are several factors that investors must take into account for. Land and location are among the two factors. The former contributes to appreciation as land over the years becomes scarce and precious. Meanwhile, the location becomes a factor of appreciation as good location with high population growth, great economy, developed infrastructures, facilities availability is able to provoke the appreciation value of a property.
Apart from that, future development plans within the area, and the country’s current state of economy also plays a role in appreciation of property.
Main Road Visibility
Riverine Condominium :
• The condominium is located at Jalan Petanak, Kuching and was launched in 2004 with the price average per square feet at RM 304.40.
• In 2015, the price appreciated to RM 378 per square feet.
• However in the year 2017 and 2018, Riverine Condominium appreciated by 17% and 14% respectively.
• The total appreciation value increased by 58.8% since 2004.
D’Jewel Condominium :
• Located at Taman Jelita, off Jalan Hup Kee, Kuching, D’Jewel Condominium was launched in 2012 with an average price per square feet of RM 317.
• In 2015 it rose to RM 376, 2016 at RM 480, and in 2017 at RM 514.
• The total appreciation of the condominium is at 38%.
The Ryegates Condominium :
• This condominium is nicely located at the Airport Road, opposite the Kuching International Airport.
• Started in 2011, the condominium was with a starting price of RM 224 per square feet.
• In 2015, it rose to RM 380. 2016 at RM 384. 2017 at RM 440.
• The total appreciation is 95% over the years since its launching.
Without Main Road Visibility
Greenwich South Condominium :
• Located in Sunny Hill Garden at third mile, Kuching
• Started in 2012, the condominium price was at RM 310 per square feet.
• At 2015, the price per square fit increased to RM 340. At 2016 and 2017, prices increased at RM 354 and RM 369 respectively.
• The total appreciation in the past five years had an increased of 18 percent.
Property complemented with commercial
lots/shopping malls
Jazz Suite Vivacity :
• Situated above the Vivacity Megamall, residents have the convenience to run down for a walk in a shopping mall
• Before completion, the condominium was priced at RM 400 per square feet in 2014
• After completion, the price rose to RM 451 in 2016. Whereas in 2017, it was at RM 496 per square feet.
• At current, Jazz Suite Vivacity cost RM 501 per square feet.
• The total appreciation value was up by 25%.
Green Heights Condominium:
• Tucked at the Airport Road, the condominium offers a convenience of shopping for its resident as Green Heights Shopping Mall is located opposite
• It is one of the oldest condominium in Kuching, launched in 1999 with the price of RM 228 per square feet.
• In 2018, the property price per square feet rose to RM 539.
• The total appreciation for Green Heights Condominium is at 136%.
