KUALA LUMPUR (March 6): If your business plan needs a location near the Kuala Lumpur city centre, Cheras may be a viable option due to its proximity and relative affordability compared to the city centre, noted a property market leader.
After working in the real estate industry for about 18 years, Steven Tung (pictured) is now a PropNex Realty group leader, leading in various activities, training, and events to align with the company’s goals and help his team pursue success.
“My current plan is to have more than 40 members in my downline, reaching 100 members by the end of the year. As my expertise is focused on the commercial sector, I believe I can lead them to bring about change in the commercial property market,” Tung told EdgeProp.
However, he stressed that focusing on commercial property sales requires significantly more effort, especially in dealing with businessmen from around the world. But the rewards aren’t just commission; they broaden your perspective.
“You meet with high-level businesspeople in this industry, listen to their business operations, and learn their business mindset from the conversations. We can learn a lot from them,” Tung elaborated.
New developments boosting Cheras’ appeal
Tung pointed out that Cheras was established at least 40 to 50 years ago, and numerous new developments have added fresh vitality to the area. Among these, he could foresee that the Sunway Velocity area will become a hot spot in the next few years. The integrated development is about a 10- to 20-minute drive from the KL city centre and is surrounded by MRT (Mass Rapid Transit) and LRT (Light Rail Transit) stations. Meanwhile, prices are relatively three times cheaper than in the city centre.
When asked about trends in commercial property transactions in Cheras and which property types investors should consider, Tung said investors are more inclined to look for shoplots.
“They (investors) rarely invest in office lots in Cheras. Typically, investors buy office lots for their own use. If they invest in office lots, they will need to pay an additional maintenance fee. However, by investing in a shoplot with an individual title, you don’t have to pay any maintenance fee, thus securing your cash flow for business operations.”
Buying or renting a place to operate your business is always a headache for business owners, but Tung’s advice is simple: just look at your cash flow.
“If you would like to buy a shoplot worth RM3 million with an 80% loan margin, your estimated monthly mortgage payment would be around RM15,000 to RM16,000. If you can afford the instalments, you may consider buying it as a property investment — it depends on whether your business cash flow can sustain the mortgage in the long run.”
Despite land scarcity in KL, Tung believes there are still many valuable landed home or shoplot options for buyers.
“The average price for 30-year-old landed homes is approximately RM700,000 to RM800,000. If you want a terrace house priced at RM500,000, you can search your desired homes at Bandar Mahkota or Batu 9.
“Meanwhile, in the commercial property sector, the average price for 3–4-storey shoplots is approximately RM3 million, which is a mid-low range if compared to the city centre,” he explained.
If you are looking for a property in Cheras, PropNex Cheras Property Xpo 2025 is happening on March 22 and 23, at Monkey Canopy Resort in Cheras, Selangor. The event will showcase more than 1,000 properties with wide ranges of new launches, sub-sales and auction properties, from residential to commercial.
Source: EdgeProp.my
POST YOUR COMMENTS