High-rise brings along, at least from a theoretical
point of view, a higher density which means “better
subdivision” of the land costs.
We look at a more realistic calculation done on a lot of 5 acres or 217,800
square feet. If we consider an average ratio the results are as follow:
Parameters
LAND SIZE
217,800 SQ. FT.
LAND VALUE psf
150 RM/psf
TOTAL LAND VALUE
32,670,000
Comparison Table
LANDED: LINK HOUSE
2 STOREY 2,000 SQ. FT.
BUILT UP
Number of units
Nos
Total Net Sellable
Area
Sq. Ft.
Land Cost Incidence
per Unit
RM
CONDOMINIUM
3+1 ROOM
1,300 SQ. FT.
120
550
240,000
715,000
272,250
59,400
Again without considering the plus point of having a wide range of facilities
always supplied in a condominium and normally no or minimal ones with a
landed project. Advantages are even clearer if we look at high-rise in areas
with large number of foreigners, above all westerns.
The condominium life-style in Europe and US is highly demanded and in a
foreigner country expats surely prefer to stay in the “safer” environment which
is offered by a high rise strata property.
Let’s now have a look at the “Return on Investment” side. In case of a long
term investment a unit in a high-rise condominium will surely offer a higher
return in terms of rental, affordability in terms of initial cost and easier future
marketability. Why I’m saying that?
Covenant is not forbidding it, is to transform your house in a kind of
“UK Bed & Breakfast” and rent room by room with all the mess that will
come along with it.
In conclusion we keep on talking about Smart Cities with Malaysia
having already few of them on-going, Smart Cities are all about vertical
as vertical allows a life-style less stressing and complicated and
furthermore much safer compared to landed properties. You live not
too far away from where you work and this will allow a longer time to
be spent with the family and an easier connectivity/mobility in terms of
proximity to your working place. Malaysia is one of the countries where
“landed” is a kind of password as it has become a “status symbol” a
“show off” of an “arrived” family. After reading carefully what I’ve done
my best to explain I hope the readers will understand in a better way
what and how the “High-rise life style” is actually much better under all
possible points of view. By the way, I happily live in a high-rise building!
Have a look at Penang where high r