Are Malaysians ready for "shoe box" apartment living?

SOHO Transit 2 at Astrum Ampang has 1360 "shoebox" apartments of 280sf. Will any Malaysian professional want to stay in a 280 sf unit - about the size of two car parks side by side? See photo below. These “shoe box “ apartments are common in China, Hong Kong and London.

In HK a 600sf leasehold mass market # apartment in a not so salubrious suburb sells for the same price as a 3 bedroom freehold 5 * KLCC luxury condominium 3-4 times its floor area. HK professionals earning RM20,000 pm are forced to buy “shoe box” apartments because 1. they can’t afford to pay more 2. there is no supply of properties. See SCMP YouTube video below of a HK$6 m (RM3 m) shoebox apartment of 292sf.

In Bolehland, property prices PSF are probably the cheapest in the region. Why? There are 1.9 m vacant residential properties out of 9.7m homes sold to home buyers. And there is a big overhang of 4,000 unsold residential properties in KL waiting for buyers as at 2021 (Napic) .

In a nutshell there is no shortage of affordable “starter” apartments of around 500-600sf at prices below RM800 psf.

I am left wondering which property market segment is SOHO Transit 2 at Astrum Ampang targeting?

#shoeboxapartments #property #firsttimehomebuyers

Two car parks are approximately 320 SF.