Jakarta – One of the residents who lives in Forest City, Malaysia can no longer afford to live in the area which is now known as the ghost town. The resident then sold his apartment unit there.
It’s not without reason that Forest City has been nicknamed a ghost town lately. The developer, Country Garden, is currently facing a debt default problem estimated at nearly US$ 3,000 trillion. As a result, the 1,740 hectare mega project he created in Johor, Malaysia, is now empty, devoid of residents.
In fact, this project is predicted to be a big project in Malaysia. The investment value reaches US$ 100 billion dollars or around Rp. 1,500 trillion. Forest City is also said to be a long-term project. It was built in 2006, and it is projected that in the next 20 years it will progress and develop. However, everything came to nothing.
In 2019, for example, only 15 thousand property units were sold, out of a target of 700 thousand, and only 500 people lived there. Later, this number rose to around 9,000 people. However, this figure is far short of the target.
A couple, CJ and his wife then sold the property there. Initially, CJ felt happy living there because there were 18 golf courses which were his favorite places. But over time, he didn’t feel at home. Many places are quiet without visitors. Dirty, unkempt gardens.
“If this were a small condominium, with facilities like that, it would be good. But because the development is excessive, and there are thousands of empty units, that’s what creates the feel of a ghost town,” said CJ, quoted from AsiaOne, Sunday (1-/9/2023).
Initially, he had no intention of selling because he had given up and believed that the price of the property they were going to sell would plummet. Yes, he didn’t think so without reason. Nothing can be expected from the conditions and atmosphere in the ghost town.
But, it turns out his prediction was wrong. By chance he met a realtor while playing golf.
“He happened to be there because he was playing golf with a friend, and we were chatting about golf. Then he brought up the idea of selling, which I had never considered before.”
It turns out, it’s true, his assumption that the price would fall was wrong. Even though he did not mention the exact price, what the broker was offering was actually higher than the value he had previously purchased. The broker made an offer of around RM (Malaysian ringgit) 1.2 million, higher than around RM 980,000.
“In this case, we were lucky to get away with it,” said CJ, “As if we were trying to sell at this point, I’m not sure if anyone would be interested. If we spent any longer considering it, we might be burdened with the responsibility which is huge right now.”
Watch the video “Allure Mansion, Strategic Residence on the Edge of the City”
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2023-09-10 03:38:43
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