|Written by Lim Siew May of theedgemalaysia.com|
|Monday, 21 February 2011 16:11|
KUALA LUMPUR: Malaysians have been bombarded with news reports of break-ins, sexual assaults and road bullies in the last few years. We don’t need news reports to inform us that the crime rate is escalating. Many of us have either fallen victim to criminals in recent times, or know of friends and relatives who have.
Security, it seems, has become a prized commodity. It is for this reason that gated and guarded (G&G) developments are becoming popular with Malaysians even though it comes with a high price tag. “The crime rate in KL is high, despite what the official figures say.
So, when developers come up with a gated and guarded development, there is a premium on the price that buyers are prepared to pay for,” says James Wong, director of VPC Alliance (KL) Sdn Bhd.
Security aside, G&G concepts are being built in response to consumers’ desire for better living standards, says Eric Ooi Yew Hock, managing director of real-estate advisory firm Knight Frank Malaysia. They give middle- and upper-income earners an upgraded lifestyle, he adds. Read more ....