Whenever you travel to the city, you’d always see big building projects in the midst of development. Some of these buildings have unfortunately met their end even before they’re completed as the price to rent or buy a unit is crazy expensive cause most Malaysians could not afford them.
Although the pricing complements the buildings’ purpose, it will still be a waste if no one can afford to occupy the space. It’s one thing to auction a unit when it’s fully furnished in an already launched and established building but would you buy a unit in a building that’s not even completed?
Posted on the Selangor Auction Property Facebook page, a unit at the ‘Mini Hong Kong’ residential building in Cheras is rumoured to be auctioned for a really expensive price later next month on 9th November. According to the Facebook post, the residential unit at the M Vertica will be auctioned at a price of RM 470k despite the building still being unfinished.
It was reported that the building’s development started back in 2018 and is expected to be completed by 2023, although a specific estimated date was never mentioned. From the photos, it is evident that the building is high-rise and compact like the ones you’d see in Hong Kong, hence the nickname ‘Mini Hong Kong’.
The Facebook page’s admin also provided extra information about the location in a pinned comment. In total, there are 3,684 units where Tower A has 808 units, Tower B with 685 units, Tower C with 752 units, Tower D with 793 units, and Tower E with 646 units. What caught netizens’ attention is not necessarily the pricing but the fact they’re already auctioning units while the building is still unfinished.
As you can see from the comments, most netizens are against buying a unit this overpriced in a busy city with some making jokes about what it would be like to live at M Vertica. So far, none of the comments showed any interest in buying a unit at the high-rise building.
What do you think? Is the pricing reasonable? Or should the building not have existed in the first place?
Sources: TheVocket, Facebook, TheEdgeMarket
