Tuesday, October 11, 2011

Atria Damansara

This community mall in the heart of Damansara Utama is now making way for a development consisting a mall, office and SOHO units. The SOHO units are now being launched at no less than RM800psf. With sizes ranging from 500sf to 1000sf, prices are going to be a record for this area.

Lately, quite a lot of developers are jumping into the SOHO bandwagon. What happened to good old condominiums and apartments? Are SOHOs really selling that well?

Is it basically to get away with merging residential-ish units into a commercial-titled lot? Then cutting them up into small sizes so that they become "affordable for the masses". Therefore, SOHOs are born.

I'll try to find out more. But meanwhile, let's ponder on this type of development - especially with what's happening at Subang Jaya recently.


David Teh said...

It like just a few years ago where SOHOs were hardly accepted. Now they're springing up everywhere. I kinda like the concept as long as they have enough facilities around.

Sin Leong, whats yr personal opinion on SOHOs in the coming years?

sinleong said...

The SOHO concept assumes there will be many professionals or young upstarts who wants to work from home. However, this concept will be outgrown when the person gets married and then goes off to look for larger accommodation. Therefore, it makes more sense to sell a larger condo or landed property with a SOHO built-in. Sierramas has this and it was a huge success. I wonder why there is no follow through from other developers. But it might all boil down to cost. Developers are aware that a RM300k to RM500k property is within reach of the majority of loan takers. So, they cut up their units small enough to this affordable range, then calling it a SOHO....

My own personal take is that whenever something becomes too many, one has to bear with too much competition and it's not good