New Straits Times (Property Times), 4 September 2004

But before answering the call, here are some things you should know

TRENDS
By Lim Lay Ying

Pause for a moment. Indulge yourself in a daydream. For the first time in ages, the real estate market looks enticing enough for you to want to explore the prospect of ownership. Indeed, the rally in stocks over the past year has been just strong enough to rekindle your desire.

Buoyed by confidence, you can now paint a mental picture of your ideal home, be it one that allows you to watch the city skyline from your house in the sky, or one where your children can play in a garden.

Now, tuck that image at the back of your mind while you calculate how many acorns you have managed to squirrel away so far, after several years of hard work. Chances are, your dreams will be bigger than the size of your wallet; but that’s okay – with your job secured, future prospects bright and competitive housing loans aplenty, you can be assured you'll be able to make your vision a reality.

The road to ownership is pretty straight and much easier than you might think. You don't need access to top secret documents or inside sources. Your own experience as an occupant, in fact, can help you sort the value buys from the pretenders.

Just to be doubly sure, though, here are three questions you should ask yourself:

1. Is the developer looking for ways to meet your needs?

Only a few companies identify customer needs first, then create complete experiences to fulfil them. The vast majority just try to make you buy the products they already offer. Those companies are product-centric, no matter what they claim.

YTL Land & Development Bhd is an by the example of a developer with a difference. In identifying an important segment of prospective buyers to be Generation Xers – a group of adults aged between 24 to 35 years who still live with their parents but who tend to be quite affluent – it set out to understand what they desire. YTL found the group to be health and security conscious while also loving entertainment and willing to embrace new technologies.

To meet those needs, YTL Land introduced The Tamarind and The Saffron condominiums at Sentul East, a 108-acre 21st century residential and commercial precinct in Kuala Lumpur designed to offer modern downtown living. Gourmet delis, sidewalk cafes, local coffee shops and hypermarkets will make up part of the 24/7 tempo of life in the vicinity.

Spectacular views of KL's city skyscrapers as well as The Park at Sentul West (involving another 186 acres in the developer's urban regeneration of the Sentul area) complete the offerings packaged for the Gen-Xers.

The resulting response has been exceptional: first-time buyers, investors, even empty-nesters, have signed up in droves. With the make-over, the area is looking very upscale – thanks largely to the company's customer-centric efforts.

2. Does the project appeal to you in terms of location, site, density and neighbourhood profile?

As a young, first-time buyer with or without small children, choosing a locale –whether an urban or a suburban one, is usually dictated by how much money you have. The typically higher price of urban land means higher densities and smaller unit space, though the range of amenities and project features need not necessarily be compromised.

Take Mont' Kiara at the western fringe of KL city, well-known by now as a success story of Sunrise Bhd, as an example. Although its high rise residential condos are relatively high density, its buyers are not put off as the development satisfies a niche formed by the demands of the expatriate community as well as the mid-high- to high-income groups.

Among Mont' Kiara's appealing features are its well-landscaped environments, entrance statements facilities, conveniences, design features, the two international schools in the area – Mont' Kiara International and Garden International – as well as a kaleidoscope of amenities and a popular commercial hub.

3. Is it property you can bet on, whose true worth will be worth every penny you're planning on committing to it?

Trying to pick a winning property over the last few years was like shooting fish in a barrel – it was that easy.

But from here on out, gains will be tougher. A big reason for this is because banks are expected to hike up their interest rates, which could exert negative pressure on real estate demand and prices as history has shown.

However, you shouldn't be intimidated, because the going is still good. The country’s economic numbers are positive and so is consumer sentiment. Foreign investors are growing in numbers, and that is a tell-tale sign that there is still money to be made in the market.

No matter your budget, there are properties whose true worth have gone unnoticed by the market. To seek them out, look in fast- developing locations that have been stimulated by enhanced accessibility and enlarged employment densities as well as in new growth corridors. Pockets of developments within the more established areas can also offer some good buys.

As said earlier, finding the right properly isn't difficult, though in this day and age, it means having to look a little harder than before. But with perseverance, your ideal property can become bricks and mortar instead of remaining a mere image in your mind.