PROPERTY GURU. 11TH MAY: These affordable housing options show that no one has to be excluded from owning properties they can proudly call home.
Affordable housing enhances the quality of life in many different ways. Low- and middle-income consumers benefit when they don’t have to live in substandard housing. Young professionals can be self-sufficient when they can afford to live on their own. Senior citizens can take up residence in non-crowded shelters when they have access to affordable housing.
But at present, the housing situation is far from ideal. For one, most Malaysians find houses seriously unaffordable mainly due to insufficient income. And in building affordable houses, developers face several challenges such as budget constraints, costly labour and construction materials, and restrictive local land regulations.
Luckily, there are fewer reasons to associate affordable housing with unattractive façades, cheap materials, and poor living standards. For years, property developers have been finding ways to build affordable housing that are inexpensive and aspirational. They do these by adopting different strategies.
Easy payment schemes
Property is a major investment and is many people’s most important expense. Many developers know this, and to make housing more affordable, they offer various payment programs. Whether it’s low down payments or other flexible payment options, consumers can choose a housing payment option that suits their needs and budget.
For instance, Mah Sing Group Berhad (Winner, Developer of the Year) has a programme called Home Ownership Made Easy (H.O.M.E.), a payment plan that empowers homebuyers to own a house without breaking the bank. The H.O.M.E. scheme offers consumers low monthly instalments, zero down payment, and easy loan approval, making home ownership within easy reach.
The developer is also changing consumers’ perception of low-cost houses as unsightly boxy structures with unappealing structures. Their affordable residential developments throughout Kuala Lumpur, Selangor, Johor, and Penang include landed and high-rise properties designed for the modern homeowner.
Rich in facilities
Affordable housing should no longer mean substandard facilities and amenities. For many people, having access to a variety of facilities is absolutely essential. It’s not unusual, however, for many low-priced apartments to have only the bare minimum facilities.
This cannot be said of Platinum Victory’s development, J. Satine (Winner, Best Mass Market High-Rise Development – Central). Located in Kuala Lumpur, J. Satine is a mixed development comprising SOHO units, lower-priced apartments, and regular-priced apartments. Many property seekers will find that the Setapak project meets their requirements for an ideal residence, including recreational amenities, ample car-park facilities, retail shops, and smart home features via a digital management application.
This township project is also just minutes away from Klang Valley, adding “strategically located” to this affordable housing concept’s many attractive qualities.
Low-cost housing, high-level security
There is an unfortunate stigma attached to living in affordable housing complexes, specifically, that they’re not the safest place to live. If you’re raising a family, you might shun affordable houses for this very reason. But the truth is that security measures must always be implemented in any residential complex to ensure residents’ safety.
For Perbadanan PR1MA Malaysia, security is a top consideration for Residensi Pauh Permai (Winner, Best Mass Market High-Rise Development – Northern). The soon-to-rise 33-storey stratified apartment complex is gated and guarded to put future residents’ minds at peace.
Other than its security features, the property comes with a rooftop garden, motion detector lights in common areas, waste recycle stations, swimming pools, a multi-purpose hall, recreational courts, and prayer halls.
Sustainable with energy considerations
For many homebuyers, there’s one characteristic that they consider a non-negotiable. It could be a significant feature like a central location, access to transport hubs, or fantastic fitness facilities. There are others whose home non-negotiable could be a feature like heat insulation.
Heat insulation is essential in lowering energy consumption in buildings and has several applications. But its ultimate purpose is to save energy and offer comfort to occupants. Home seekers looking for exactly that can find such a feature in Residensi Larkin Indah (Winner, Best Mass Market High-Rise Development – Southern). The high-rise development is built with heat insulation, enabling the builders to use AAC (Autoclaved Aerated Concrete) blocks for these modern residential towers. This comes with advantages such as insulation for walls, floors, and roofs; durability; and excellent fire resistance.