Here's why property buyers in Ipoh are not happy with the sudden name change of a high-rise building:
But what happens to said property when the prestigious name suddenly changes to something more common? Property buyers of this building in Ipoh were understandably upset when they learnt of their property name change.It was recently reported that property buyers in Kepayang, Ipoh were unhappy with a sudden change of name of their 1Malaysia Housing Programme high-rise housing building. The building that was originally known as PR1MA Fair Park has been renamed Pangsapuri PR1MA Kepayang.
How does the new name affect the value of the property? Property buyer Calvin Chai told The Rakyat Post that a prestigious name is one of the many factors why many would choose to buy a home in the area, so changing a glamorous name such as ‘PR1MA Fair Park’ to something common like ‘Pangsapuri PR1MA’ will surely make potential buyers and renters reconsider their options.It was also reported that there’s already another residential building with a similar name which is Pangsapuri Seri Kepayang.
were made to understand that the name change is at the directive of local authorities. We hope the authorities would reinstate the previous name as it would impact the property’s value in the long run,”The property buyer then told the local news outlet that the residence will try to appeal to Local Government Development Minister Nga Kor Ming, who is also the Kepayang state assemblyman.
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