Right mentality in maintaining property is key to value growth

SHAH ALAM (Oct 20): Like humans, buildings will go through the aging process over the years, but with the right mentality in managing the property, it can stay evergreen and continue to enjoy good value growth, said Architect Centre Sdn Bhd accredited architect and trainer Anthony Lee Tee.

He noted that one important criteria of an investable property is whether the building has proper fire detection features, evacuation routes and functional extinguishment devices.

“It’s not just about just the facade, it’s about residents’ safety. Many properties and lives were lost due to faulty fire fighting equipment in the building,” he told the audience during his session titled “Safe building, investment safe — ignore it and, well, just pay for it!” today.

According to him, every year there are around 20,000 fires in Malaysia and about 50 to 70 people perish in fires. These tragedies could be prevented with proper maintenance of fire-fighting equipment and good fire prevention practice.

He is also one of the speakers of EdgeProp.my Talk entitled “Are you destroying your investment in Real Estate?”.

This half-day talk is organised by EdgeProp.my in partnership with Nippon Paint Malaysia.

Lee advised property buyers to take a close look at the fire detection and extinguishment features of the building when making property buying decisions.

Things to be looked into include fire escape routes, the condition of fire-fighting and fire detect equipments.

“The problem is we have five-star facilities but a third-world mentality in maintaining all these important things which could protect our lives and the value of the property,” he said.

For more detailed coverage of the EdgeProp.my Talk, read the Oct 26, 2018 issue of EdgeProp.my pullout.