A pent-up demand for larger and more luxurious homes has been the catalyst for the RM80 million sales the Southcon Group has derived since the launch of its Austin Heights development in Johor Baru early last month.

Demand for this 197-acre freehold venture located 8km from JB city centre has been so strong that developer Austin Heights Sdn Bhd accelerated its launch schedule, rolling out a total of five phases comprising 188 linked bungalows and 710 cluster houses, of which about 90
per cent have been sold.

“Demand has been so overwhelming that prices have risen by as much as
15 per cent since the properties were first launched,” said managing director Steve Chong Yoon On.

He revealed that the double-storey linked bungalows initially pegged from RM438,000 are now priced from RM488,000 while the double-storey cluster houses have risen from RM260,000 to RM308,000.

In explaining the positive response, Chong said the company succeeded in meeting the needs of upgraders in the market who wanted to see more than just “row upon row of houses”.

“Our buyers want a lifestyle concept in terms of security, amenities and convenience,” said Chong, who added that 95 per cent of the buyers in Austin Heights already own a home.

He pointed out that the popularity of the double-storey linked bungalows, which are essentially semi-detached houses that are connected in the rear as opposed to the side, was proof of the existence of demand
for such properties.

“This is a first in Johor and we had to convince the relevant
authorities that such a design is viable,” he added.

Due to the quick take-up of this component, the developer has released for sale another batch of linked bungalows, the preview of which is being held today.

A total of 98 units with plot dimensions of 50ft by 72ft are on offer, priced from RM488,000 to RM821,000. Units with larger plot dimensions have the extra land pegged at RM50psf. Built-up areas for the units with five
bedrooms and five bathrooms range from 2,839sq ft to 3,340sq ft.

Forming part of a gated and guarded precinct, owners of the linked bungalows will be levied a service charge of RM200 per month for the provision of security services, landscaping and refuse collection.

Chong said buyers can be assured of the fact that the management and maintenance of these aspects will be carried out on a non-profit basis.

“This is also provided for in the deed of mutual covenant. Whatever excess funds we have will be carried forward for use in the next fiscal year.”

Scheduled to be completed in eight years’ time, Austin Heights will also comprise apartments and three-storey shops.

- Property Times 14 Feb 2004 issue -

<< BACK ...............................................................................