Wednesday, February 08, 2006

Location vs Hunger

Real estate says "Location, location and location!" or "Location, location and time".... usually to describe that you need to purchase real estate (for investment) in a prime location, and then time will do the necessary in making sure your real estate property goes up.

You buy shop houses in prime location and rent to banks, you're rich. You wanna open a business, you choose a place where there's plenty of people and market, and you open one, such as grocery store, or a laundry, or boutique, or bookstore, or whatever.

Then comes food, which kills that idiom of real estate to the ground. Why do people travel all the way to Melaka for the chicken rice ball when you can find in KL. Why would people travel out of the PLUS highway, just to drop by a Mee Rebus stall in Ipoh?? Why do people go all the way to Pandamaran for chinese seafood?! These locations are at least 50% and below cheaper in per square feet.

And why do I travel all the way from centre of KL, on a busy traffic jammed evening, in the middle of the week, all the way to Klang to have seafood at Medan Muara?!? The answer is, when it comes to food, location is not important. Real estate for restaurant is "taste, taste and distance!" The further it is, the more people will go there. Ask around, people like to TRAVEL to get their food, especially when you first started dating and while you're in college/university.

Gonna go off to get my sotong goreng tepung now at Medan Muara now.....

No comments: