Star Property |

Roundtable timely in addressing pain points

By Joseph Wong

According to the Malaysia Property Market Centre (Napic), there are approximately seven million properties in Malaysia. Of that total, there are about 9.6 million housing units in Malaysia bearing in mind that high-rise condominium or apartment buildings can house many individual units. 

Alongside residential properties, there are also office towers, shopping complexes, shops, industrial buildings, hotels, student and workers hostels, care centres for the elderly, prisons and medical institutions, among others. 

The average lifespan of a high-rise apartment or office is estimated to be 50 to 60 years but thankfully, the majority of Greater Kuala Lumpur’s buildings have yet to reach this age. One of the oldest buildings in Kuala Lumpur is the Federal Hotel, which at 57 years old was completed in time to host the Merdeka grand celebrations. Subsequent high-rise buildings came much later. Even the world’s tallest Petronas Twin Towers is 26 years old. 

An independent home ages much slower than a building or apartment because the amenities and common services are shared among the residents. However, their lifespan can be extended by carrying out proper maintenance and regular refurbishments. 


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