As a city grows and develops, there bounds to be increase in population as well. When population increases, there will be a rise in demand for residential properties as well. Sarawak is one such state that is growing rapidly over the years, especially in tandem with the progress of SCORE to boost foreign investment. However, the property regulation varies by state and in Sarawak, there is only a certain number of housing properties allowed in an acre. In view of the growing population, the state housing ministry is studying the proposal on the densification of property for the development of residential properties.
Property densification has not only been a popular notion but the implementation requires a great deal of research as well. Density of population can be measured including floor area ratio, residential density, population density, and employment density. In Perth, Australia, property developer Danny Psaros has called for an increase in ‘controlled urban density’ to address the growing population and traffic congestion that may possibly result from the growth.
Zooming into Asian countries, we consider one of the densest city in the world – Tokyo – that stands at 13.35 million people as at 2014 and has an area of 2,188km2. They have managed the population density well with strategic urban planning around construction of residential properties. Although it sounds like the only solution, there are also certain aspects to take into consideration such as the cost of building infrastructure and facilities increases as your venture further from urban development areas.
There is also an argument that denser property development does not result in lesser congestion with the assumption of increased usage of public transportation. On the flipside, if the surrounding residents were to drive their own vehicles, there is bound to be a crawl in those areas. Many factors lead to the overcrowding of road usage within a particular area but common perception prescribes the density of that area as the key contributor to the issue.
All around the world, the growing number of population has impacted the property market as the need for more property to house families and individuals increases. Looking back at Sarawak, the residential property density was low and property prices were affected – a semi-detached house would cost RM1.5 million back in 2015. Sarawakians can rest assured as their interest will be looked after, following the state government’s revelation of their intention to study the proposal on residential property densification for the benefit of the people and state.