Bandar Sungai Long forms part of Cheras and is under the jurisdiction of the Kajang Municipal Council. In 1989, SHL Consolidated Bhd developed and transformed the 690-acre freehold land formerly a rubber plantation area into the established township it is today. Tanming Bhd, Kihuat Properties Sdn Bhd and SYF Resources Bhd subsequently jumped on the bandwagon, says Savills Malaysia Sdn Bhd managing director Datuk Paul Khong.
Streetscapes: Small commercial area in upmarket suburb still going strong theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
At a restaurant famed for its chicken rice, the thick and comforting bowl of barley ginkgo dessert at the end of the meal was an even nicer surprise. Prosperity Bowl is among the generous selection of dining options found in this commercial area straddling Jalan SS2/24 in Petaling Jaya, which comprises two back-to-back rows of shops on one side and another individual row on the other side of the dual carriageway.
These were originally planned as neighbourhood shops, as they are next to residential areas and were one of the earliest commercial properties built in SS2, says Savills Malaysia managing director Datuk Paul Khong.
Last year was a tough one for almost all property sectors. According to data from the National Property Information Centre (Napic), in 1H2020, Malaysia’s property market transaction volume and value decreased 27.9% and 31.5% respectively compared with the previous year. While most property consultants believe there should be some recovery this year, it will depend on the Covid-19 vaccine as well as the performance of the job market and economy.
Some consultants think there will be opportunities for investors in the auction market with foreclosures likely to increase, but others believe that owing to government intervention and the low interest rate environment, this might not be the case. On the other hand, this could be a golden opportunity for first-time homebuyers to purchase their dream home. However, as property is a long-term investment, the age-old advice of doing your homework and buying what you can afford continues to hold true.