‘Hot spots will be Petaling Jaya and Puchong’

Agency head expects double digit growth in property prices.

Subsale properties in Petaling Jaya will very much be in demand as there are very few new property developments in the area, said MegaHarta Real Estate Sdn Bhd principal Clement Ong when interviewed recently about his outlook for the property market.

“I foresee that Petaling Jaya and the vicinity of PJ will be where prices will increase because of the lack of supply while demand is strong.”

“Taking SS2, Petaling Jaya as my referral point, all locations within 20 to 30km from here are hot spots,” said Ong, 52. “I bought this office in SS2 two years ago at RM770K. That time, the owner advertised for two months but there were no takers. Now, the asking price for the house next door is about RM1mil.”

Established in 2002, MegaHarta offers real estate services involving residential, commercial and industrial properties. MegaHarta operates from its main office in SS2, Petaling Jaya and six other branches in Puchong, Taipan USJ, Kepong, Cheras, Taman Desa and Pandan Perdana.

MegaHarta Real Estate Sdn Bhd principal 

Clement Ong.

According to Ong, the other hot spots are Puchong, USJ, Shah Alam and Kepong. Investors have also started to look into new areas like Rawang, he added.

Prices of properties in prime areas will easily grow by 10% or more this year, he believed.

Property tips

Ong who has been in the real estate industry for close to 20 years, advised, “Whether you are a first time homebuyer or a property investor, the most important thing is to do your homework.”

• Buyers should educate themselves on the purchasing process and procedures.
• Buyers should make sure that they align themselves with reputable real estate agencies.
• Look for the catchment market and maturity of the surrounding area.
• Buy from established developers.

By Melisa Ng | melisang@starmedia.my