LUXURY homes will continue to sell in 2012 despite the uncertainty in economy outlook.

SP Setia Bhd general manager (property division – north) Datuk S. Sundarajoo said people would still buy homes although there could be a slowdown as they wanted to make observations before deciding.

“It won’t come to a crunching standstill,” said Kuala Lumpur-born Sundarajoo, who helms the company’s three substantial housing projects in Sungai Ara and Relau.

Sundarajoo said luxury homes would definitely sell given the right pricing, product and timing.

He added that it was also important to sell the right amount of units.

Sundarajoo was speaking to reporters at the official launch of the four-storey Pearl Villas at Setia Pearl Island in Bayan Lepas on Saturday.

The 49-year-old described the five-bedroom villas as “cream of the crop” in luxury homes.

“It’s the last piece of landed property in Setia Pearl Island.

“Built under the ‘Zero Lot Villas’ concept, the freehold villas are the first of their kind in Penang,” he said, adding that he was confident the units would be selling fast.

Priced from RM2.98mil onwards each and with a spacious built-up area of 6,577sq ft onwards, the villas offer exceptional value for money.

“Our terrace units are already selling at around RM400 per sq ft, while the villas are priced at RM456 per sq ft,” he said, commenting that the difference was not much.

He said there was a demand for such homes by buyers who were keen to upgrade their homes.

“There are also many multinational corporations (MNCs) interested due to the proximity to the airport and the Bayan Lepas Free Industrial Zone (FIZ),” Sundarajoo said.

He added that there were only 35 units of the villas with eight already sold and three reserved since the project was opened for sale on Dec 9.

The villas feature a viewing and function deck which can be converted into rooms, home automation as well as a private pool and lift.

The villas are also built and designed according to Singapore?s Construction Quality Assessment System (CONQUAS) certification to ensure that only homes of high quality standards and excellent workmanship are delivered to homeowners.

The expected date of completion is end of 2013.

A promotion is on-going until end of the month which will allow buyers to enjoy savings of about RM400,000.

For more details, call Setia Promenade Sdn Bhd at 04-6422255.

SOURCE: The Star