At 10pm on June 23, the polls for the referendum on whether the UK should remain in or leave the European Union (EU) closed. Some nine hours later, the official results were out and the leave camp was declared the winner by a narrow margin.

Property agents and negotiators should never broker a deal without a method, says IM Global Property Consultants Sdn Bhd founder, managing director and CEO Ishak Ismail.

Since Britons voted to leave the European Union (EU) in the referendum on June 23, global markets have been reeling as the UK and the world come to terms with the implications. The “Brexit” vote has left local and foreign investors in a state of uncertainty, including those in the real estate market and residential letting in London.

Developers with a chunk of their sales in affordable housing are expected to weather the storm much better than those with high-end products, say analysts and real estate consultants.

Rental yields are higher in Subang than in Ara Damansara, due to the lower capital bases and generally smaller unit sizes found at the apartments and low-cost flats in Subang.

Mention Damansara Heights and many assume that those who live there belong to the upper echelons of society, own palatial mansions and have a high net worth. That may not be true of course, but the area has an undeniable cachet that has made it a property hotspot.

The property market in Ara Damansara has benefitted from its proximity to the established neighbourhoods of Kelana Jaya and Petaling Jaya while the property market in Subang has stagnated.

The main component of the project is to extend an additional 345m in length to the breakwater constructed earlier and river protection works under the Pahang river estuary conservation (Phase 3) project.

While the Malaysian economy is not in a full-blown crisis, the slowdown is definitely giving many developers a headache.

The most expensive project by far is Ara Hill Condominium, with an average price per unit at RM1.4 million.