By Farah Wahida:
Kuantan is expected to attract more house hunters and renters despite the controversial Lynas Rare Earth Plant, according to the Real Estate Housing Developers Association (REHDA Pahang branch).
Not a single buyer was concerned about Lynas when they acquired a property in Kuantan, said Cheoh Chee Guan, Chairman of REHDA Pahang.
“Nobody asked any question about it (Lynas) at all. This is reflected in brisk demand for houses in areas like Balok which are priced between RM150,000 to RM180,000 per unit.”
Moreover, Kuatan’s property market is generally stable and prices are growing slightly since 2011, noted Cheoh, adding that 8,000 houses (new and old) were sold in 2012. In particular, “Balok (near Gebeng) is popular among house buyers as most of the units are single storey and within their budget.”
Aside from the establishment of new industries and factories in Gebeng, the launch of the Malaysia-China Kuantan Industrial park (MCKIP) is also expected to cause an influx of workers, which would fuel the demand for residential properties.
Specifically, top executives and highly-qualified technical employees would prefer expensive units in the town area that are priced from RM180,000 to RM420,000, while the more costly apartments and bungalows will be sought-after by expatriates.
“As for general workers, they will normally seek affordable houses in Gebeng and Balok, and with-in the next three to five years, there will be a significant rise in demand when MCKIP is in full operation.”
The rental market is also expected to flourish thanks to the entry of general workers.
“At present, rental fees are stable at between RM700 and RM2,000 per unit but this will change as new workers come and seek temporary residence in Kuantan,” he added.
Kuantan is expected to attract more house hunters and renters despite the controversial Lynas Rare Earth Plant, according to the Real Estate Housing Developers Association (REHDA Pahang branch).
Not a single buyer was concerned about Lynas when they acquired a property in Kuantan, said Cheoh Chee Guan, Chairman of REHDA Pahang.
“Nobody asked any question about it (Lynas) at all. This is reflected in brisk demand for houses in areas like Balok which are priced between RM150,000 to RM180,000 per unit.”
Moreover, Kuatan’s property market is generally stable and prices are growing slightly since 2011, noted Cheoh, adding that 8,000 houses (new and old) were sold in 2012. In particular, “Balok (near Gebeng) is popular among house buyers as most of the units are single storey and within their budget.”
Aside from the establishment of new industries and factories in Gebeng, the launch of the Malaysia-China Kuantan Industrial park (MCKIP) is also expected to cause an influx of workers, which would fuel the demand for residential properties.
Specifically, top executives and highly-qualified technical employees would prefer expensive units in the town area that are priced from RM180,000 to RM420,000, while the more costly apartments and bungalows will be sought-after by expatriates.
“As for general workers, they will normally seek affordable houses in Gebeng and Balok, and with-in the next three to five years, there will be a significant rise in demand when MCKIP is in full operation.”
The rental market is also expected to flourish thanks to the entry of general workers.
“At present, rental fees are stable at between RM700 and RM2,000 per unit but this will change as new workers come and seek temporary residence in Kuantan,” he added.
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