Wednesday, October 31, 2012

Penang Real Estate | Penang Property | Penang Properties: R and R Apartment

Penang Real Estate | Penang Property | Penang Properties: R and R Apartment

Penang Real Estate | Penang Property | Penang Properties: Quayside

Penang Real Estate | Penang Property | Penang Properties: Quayside

Penang Real Estate | Penang Property | Penang Properties: Putra Place

Penang Real Estate | Penang Property | Penang Properties: Putra Place

Penang Real Estate | Penang Property | Penang Properties: Putra Marine

Penang Real Estate | Penang Property | Penang Properties: Putra Marine

Penang Real Estate | Penang Property | Penang Properties: Puteri Indah

Penang Real Estate | Penang Property | Penang Properties: Puteri Indah

Penang Real Estate | Penang Property | Penang Properties: Prima View

Penang Real Estate | Penang Property | Penang Properties: Prima View

Penang Real Estate | Penang Property | Penang Properties: Precious Court

Penang Real Estate | Penang Property | Penang Properties: Precious Court

Penang Real Estate | Penang Property | Penang Properties: Porta Mas

Penang Real Estate | Penang Property | Penang Properties: Porta Mas

Penang Real Estate | Penang Property | Penang Properties: Plaza Ivory

Penang Real Estate | Penang Property | Penang Properties: Plaza Ivory

Penang Real Estate | Penang Property | Penang Properties: Penhill Perdana

Penang Real Estate | Penang Property | Penang Properties: Penhill Perdana

Penang Real Estate | Penang Property | Penang Properties: Penhill Apartment

Penang Real Estate | Penang Property | Penang Properties: Penhill Apartment

Penang Real Estate | Penang Property | Penang Properties: Peel Mansion

Penang Real Estate | Penang Property | Penang Properties: Peel Mansion

Penang Real Estate | Penang Property | Penang Properties: Pearl View

Penang Real Estate | Penang Property | Penang Properties: Pearl View

Penang Real Estate | Penang Property | Penang Properties: Pearl Garden

Penang Real Estate | Penang Property | Penang Properties: Pearl Garden

Penang Real Estate | Penang Property | Penang Properties: Platino

Penang Real Estate | Penang Property | Penang Properties: Platino

Penang Real Estate | Penang Property | Penang Properties: Pinang Emas

Penang Real Estate | Penang Property | Penang Properties: Pinang Emas

Penang Real Estate | Penang Property | Penang Properties: Parkview Towers

Penang Real Estate | Penang Property | Penang Properties: Parkview Towers

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Seri Melor

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Seri Melor

Penang Real Estate | Penang Property | Penang Properties: Pierce Palace

Penang Real Estate | Penang Property | Penang Properties: Pierce Palace

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Mahsuri

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Mahsuri

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Fairway View

Penang Real Estate | Penang Property | Penang Properties: Pangsapuri Fairway View

Penang Real Estate | Penang Property | Penang Properties: Palmyra Residences

Penang Real Estate | Penang Property | Penang Properties: Palmyra Residences

Penang Real Estate | Penang Property | Penang Properties: Palm Palladium

Penang Real Estate | Penang Property | Penang Properties: Palm Palladium

Penang Real Estate | Penang Property | Penang Properties: Palace Hill

Penang Real Estate | Penang Property | Penang Properties: Palace Hill

Penang Real Estate | Penang Property | Penang Properties: One Permai

Penang Real Estate | Penang Property | Penang Properties: One Permai

Penang Real Estate | Penang Property | Penang Properties: Ocean View

Penang Real Estate | Penang Property | Penang Properties: Ocean View

Penang Real Estate | Penang Property | Penang Properties: Permai Ria

Penang Real Estate | Penang Property | Penang Properties: Permai Ria

Penang Real Estate | Penang Property | Penang Properties: Oasis Residences

Penang Real Estate | Penang Property | Penang Properties: Oasis Residences

Penang Real Estate | Penang Property | Penang Properties: Nipah Emas

Penang Real Estate | Penang Property | Penang Properties: Nipah Emas

Penang Real Estate | Penang Property | Penang Properties: Nine Ten

Penang Real Estate | Penang Property | Penang Properties: Nine Ten

Penang Real Estate | Penang Property | Penang Properties: Nautilus Bay

Penang Real Estate | Penang Property | Penang Properties: Nautilus Bay

Penang Real Estate | Penang Property | Penang Properties: Naninong

Penang Real Estate | Penang Property | Penang Properties: Naninong

Penang Real Estate | Penang Property | Penang Properties: N Park

Penang Real Estate | Penang Property | Penang Properties: N Park

Penang Real Estate | Penang Property | Penang Properties: Mutiara Vista

Penang Real Estate | Penang Property | Penang Properties: Mutiara Vista

Penang Real Estate | Penang Property | Penang Properties: Mutiara Villa

Penang Real Estate | Penang Property | Penang Properties: Mutiara Villa

Penang Real Estate | Penang Property | Penang Properties: Mutiara Place

Penang Real Estate | Penang Property | Penang Properties: Mutiara Place

Penang Real Estate | Penang Property | Penang Properties: Mutiara Indah

Penang Real Estate | Penang Property | Penang Properties: Mutiara Indah

Penang Real Estate | Penang Property | Penang Properties: Mutiara Idaman

Penang Real Estate | Penang Property | Penang Properties: Mutiara Idaman

Penang Real Estate | Penang Property | Penang Properties: Mutiara Heights

Penang Real Estate | Penang Property | Penang Properties: Mutiara Heights

Penang Real Estate | Penang Property | Penang Properties: Moonlight Bay

Penang Real Estate | Penang Property | Penang Properties: Moonlight Bay

Penang Real Estate | Penang Property | Penang Properties: Millennium Tower

Penang Real Estate | Penang Property | Penang Properties: Millennium Tower

Penang Real Estate | Penang Property | Penang Properties: Midlands Court

Penang Real Estate | Penang Property | Penang Properties: Midlands Court

Penang Real Estate | Penang Property | Penang Properties: Midlands Condo

Penang Real Estate | Penang Property | Penang Properties: Midlands Condo

Penang Real Estate | Penang Property | Penang Properties: Miami Green

Penang Real Estate | Penang Property | Penang Properties: Miami Green

Penang Real Estate | Penang Property | Penang Properties: Miami Bay

Penang Real Estate | Penang Property | Penang Properties: Miami Bay

Penang Real Estate | Penang Property | Penang Properties: Mewah Court

Penang Real Estate | Penang Property | Penang Properties: Mewah Court

Penang Real Estate | Penang Property | Penang Properties: Metro Avenue

Penang Real Estate | Penang Property | Penang Properties: Metro Avenue

Penang Real Estate | Penang Property | Penang Properties: Menara Greenview

Penang Real Estate | Penang Property | Penang Properties: Menara Greenview

Penang Real Estate | Penang Property | Penang Properties: Menara Asas

Penang Real Estate | Penang Property | Penang Properties: Menara Asas

HK property shares slump on curbs to cool prices


HONG KONG: Hong Kong real estate stocks sank on Monday as investors locked in profits in the outperforming sector on worries that surprisingly tough new measures to cool soaring property prices will sap demand from non-resident buyers.
The falls come after the Government, echoing similar moves by Singapore, imposed a 15% tax on non-resident and corporate property buyers and stiffened resale stamp duty fees in the hope of calming prices, which have surpassed historical highs hit in 1997.
Some property agents said the measures, which came into effect on Saturday, had already had an impact.
”The number of second-hand buyers dropped 40% over the weekend to the lowest this year,” said Wong Leung Sing, associate director of Centaline Property Agency.
The moves to cool speculation follow a series of currency market interventions by Hong Kong's central bank to defend the city's 29-year-old peg to the US dollar as a third round of quantitative easing by the US Federal Reserve spurred capital inflows to the former British territory.
Hot money flows have added to the attractive mix of low interest rates, no capital gains tax and the stable exchange rate to drive prices higher.
Hong Kong leader Leung Chunying, who was sworn in on July 1, has made affordable housing a focus for his administration in a city with residential prices among the highest in the world, fuelled in part by voracious demand from rich Chinese.
The runaway real estate market has created festering social and political problems and forced the Hong Kong Monetary Authority in September to curb home loans to borrowers with more than one mortgage. Shares of New World Development, which before Monday had more than doubled so far this year, led the fall and were down nearly 7% by midday.
Cheung Kong (Holdings) Ltd and Sun Hung Kai Properties Ltd, Hong Kong's top two developers, each fell more than 5% .
Property agent Midland Holdings Ltd plunged as much as 16%, its largest single day fall in almost two years, and was down more than 14%by midday.
The Hang Seng Property Index, a subindex that tracks the seven Hong Kong and two Chinese developer stocks that are components of the Hang Seng Index, fell 4%, lagging a 0.2% drop in the benchmark Hang Seng Index .
”I think many are quite surprised by the severity of the 15% special duty, so many are taking profits on the sector, which has done very well this year so far,” said Jackson Wong, vice-president for Tanrich Securities.
”It will probably reduce demand from the mainland by 15% to 20%, particularly for the high-end market.”
Citigroup said the measures to contain home prices, which rose about 20% in the first nine months of this year, should be effective and that this would remove policy risk and asset bubble concerns.
”We believe any dip in Hong Kong property stocks on Monday would simply represent an enhanced buying opportunity,” it said.
Despite Hong Kong's reputation as a city of skyscrapers, luxury cars and swanky malls, around a tenth of families in the city of seven million live in relative poverty, according to Oxfam. Reuters

来吧!逃向大自然 槟直落巴巷Escape公园下月开放


(槟城30日讯)总投资高达1亿8000万令吉的直落巴巷Escape公园,首阶段规划区森林探险区将在11月初开放。
全球首创新概念
沈氏休闲咨询私人有限公司首席城市逃亡者(首席执行员)沈芝庆说,Escape公园尽管是一个主题公园,但是它却有别于当今世界上所有即有的主题公园,不以卡通电影为主题,也不是水上乐园,而是一个全球首创,以回归大自然为新概念的森林探险主题公园。
年终学假及时解压
Escape公园的出现,让长久期盼新刺激和新玩意的槟城人能够在这个即将来临的年终学校假期,做一次逃离城市喧嚣的“逃亡”,回归大自然像猴子一样从功课及工作压力中解放出来。
料每年吸引35万人次
沈芝庆说,公园以Escape为名就是取从拥挤的城市逃亡出来的意思,回归大自然和提倡爱护环境的概念。光华

Sunday, October 28, 2012

Penang Real Estate | Penang Property | Penang Properties: Melody Homes

Penang Real Estate | Penang Property | Penang Properties: Melody Homes

Penang Real Estate | Penang Property | Penang Properties: Melati Apartment

Penang Real Estate | Penang Property | Penang Properties: Melati Apartment

Penang Real Estate | Penang Property | Penang Properties: Medan Samak

Penang Real Estate | Penang Property | Penang Properties: Medan Samak

Penang Real Estate | Penang Property | Penang Properties: Medan Ria

Penang Real Estate | Penang Property | Penang Properties: Medan Ria

Penang Real Estate | Penang Property | Penang Properties: Medan Lumba Kuda

Penang Real Estate | Penang Property | Penang Properties: Medan Lumba Kuda

Penang Real Estate | Penang Property | Penang Properties: Medan Hikmat

Penang Real Estate | Penang Property | Penang Properties: Medan Hikmat

Penang Real Estate | Penang Property | Penang Properties: MBF Tower

Penang Real Estate | Penang Property | Penang Properties: MBF Tower

Penang Real Estate | Penang Property | Penang Properties: Mawar Apartment

Penang Real Estate | Penang Property | Penang Properties: Mawar Apartment

Penang Real Estate | Penang Property | Penang Properties: Marine Mansion

Penang Real Estate | Penang Property | Penang Properties: Marine Mansion

Penang Real Estate | Penang Property | Penang Properties: Marina Tower (Relau)

Penang Real Estate | Penang Property | Penang Properties: Marina Tower (Relau)

Penang Real Estate | Penang Property | Penang Properties: Marina Tower (Ratu Mutiara)

Penang Real Estate | Penang Property | Penang Properties: Marina Tower (Ratu Mutiara)

Penang Real Estate | Penang Property | Penang Properties: Mar Vista

Penang Real Estate | Penang Property | Penang Properties: Mar Vista

Penang Real Estate | Penang Property | Penang Properties: Lots 28

Penang Real Estate | Penang Property | Penang Properties: Lots 28

Penang Real Estate | Penang Property | Penang Properties: Logan Ville

Penang Real Estate | Penang Property | Penang Properties: Logan Ville

Penang Real Estate | Penang Property | Penang Properties: Leisure Bay

Penang Real Estate | Penang Property | Penang Properties: Leisure Bay

Penang Real Estate | Penang Property | Penang Properties: Legenda Southbay

Penang Real Estate | Penang Property | Penang Properties: Legenda Southbay

Penang Real Estate | Penang Property | Penang Properties: Leader Garden

Penang Real Estate | Penang Property | Penang Properties: Leader Garden

Penang Real Estate | Penang Property | Penang Properties: Lavinia

Penang Real Estate | Penang Property | Penang Properties: Lavinia

Penang Real Estate | Penang Property | Penang Properties: Lakeside Towers

Penang Real Estate | Penang Property | Penang Properties: Lakeside Towers

Penang Real Estate | Penang Property | Penang Properties: Lahat Court

Penang Real Estate | Penang Property | Penang Properties: Lahat Court

Penang Real Estate | Penang Property | Penang Properties: Krystal Idaman

Penang Real Estate | Penang Property | Penang Properties: Krystal Idaman

Penang Real Estate | Penang Property | Penang Properties: Krystal Court

Penang Real Estate | Penang Property | Penang Properties: Krystal Court

Penang Real Estate | Penang Property | Penang Properties: Kota Emas

Penang Real Estate | Penang Property | Penang Properties: Kota Emas

Penang Real Estate | Penang Property | Penang Properties: Kondo Berjaya

Penang Real Estate | Penang Property | Penang Properties: Kondo Berjaya

Penang Real Estate | Penang Property | Penang Properties: Kingfisher Series (K Series)

Penang Real Estate | Penang Property | Penang Properties: Kingfisher Series (K Series)

Penang Real Estate | Penang Property | Penang Properties: Kayangan Puri Mutiara (KPM)

Penang Real Estate | Penang Property | Penang Properties: Kayangan Puri Mutiara (KPM)

Penang Real Estate | Penang Property | Penang Properties: Kastella Court

Penang Real Estate | Penang Property | Penang Properties: Kastella Court

Penang Real Estate | Penang Property | Penang Properties: Jermal Jaya

Penang Real Estate | Penang Property | Penang Properties: Jermal Jaya

Penang Real Estate | Penang Property | Penang Properties: Jermal Court

Penang Real Estate | Penang Property | Penang Properties: Jermal Court

Penang Real Estate | Penang Property | Penang Properties: Jelutong Palace

Penang Real Estate | Penang Property | Penang Properties: Jelutong Palace

Penang Real Estate | Penang Property | Penang Properties: Jazz Residences (The Jazz)

Penang Real Estate | Penang Property | Penang Properties: Jazz Residences (The Jazz)

Penang Real Estate | Penang Property | Penang Properties: Jay Series

Penang Real Estate | Penang Property | Penang Properties: Jay Series

Penang Real Estate | Penang Property | Penang Properties: Jascilla View

Penang Real Estate | Penang Property | Penang Properties: Jascilla View

Penang Real Estate | Penang Property | Penang Properties: Jambul View

Penang Real Estate | Penang Property | Penang Properties: Jambul View

Penang Real Estate | Penang Property | Penang Properties: Jambul Court

Penang Real Estate | Penang Property | Penang Properties: Jambul Court

Penang Real Estate | Penang Property | Penang Properties: Jade View

Penang Real Estate | Penang Property | Penang Properties: Jade View

Penang Real Estate | Penang Property | Penang Properties: Ixora Heights

Penang Real Estate | Penang Property | Penang Properties: Ixora Heights

Penang Real Estate | Penang Property | Penang Properties: Isabella Villa

Penang Real Estate | Penang Property | Penang Properties: Isabella Villa

Penang Real Estate | Penang Property | Penang Properties: Infinity

Penang Real Estate | Penang Property | Penang Properties: Infinity

Penang Real Estate | Penang Property | Penang Properties: Indahria

Penang Real Estate | Penang Property | Penang Properties: Indahria

Penang Real Estate | Penang Property | Penang Properties: Indah Kota

Penang Real Estate | Penang Property | Penang Properties: Indah Kota

Penang Real Estate | Penang Property | Penang Properties: Indah Bay

Penang Real Estate | Penang Property | Penang Properties: Indah Bay

Penang Real Estate | Penang Property | Penang Properties: Idaman Lavender

Penang Real Estate | Penang Property | Penang Properties: Idaman Lavender

Penang Real Estate | Penang Property | Penang Properties: Idaman Iris

Penang Real Estate | Penang Property | Penang Properties: Idaman Iris

Penang Real Estate | Penang Property | Penang Properties: I-Regency

Penang Real Estate | Penang Property | Penang Properties: I-Regency

Penang Real Estate | Penang Property | Penang Properties: i-Avenue

Penang Real Estate | Penang Property | Penang Properties: i-Avenue

Penang Real Estate | Penang Property | Penang Properties: Horizon Tower

Penang Real Estate | Penang Property | Penang Properties: Horizon Tower

Penang Real Estate | Penang Property | Penang Properties: Hillside Garden

Penang Real Estate | Penang Property | Penang Properties: Hillside Garden

Realtors rubbish CM’s claim of decreasing house cost


PETALING JAYA: Real estate agents are shocked over Penang ChiefMinister Lim Guan Eng's claim that the price of a detached residential unit in Penang had decreased to RM415,000.
Malaysia Institute of Estate Agents (MIEA) Penang chairman Danny Ooisaid the figure quoted by Lim was far below the actual price of detached property on the island.
“It is surprisingly far below than the current price on the market, which is about RM2mil on average,” he said, adding that it was possible to get such prices on the mainland but not on the island.
He said this in response to Lim's claim that the price of a detached unit had fallen from RM469,000 to RM415,0000.
Lim had quoted the figures when denying reports in The Star that the property price of condominiums or apartments had increased by as high as 499%, flats by 339%), low-cost flats (157%) and detached units (103%) within a year.
The Star had reported that property prices shot up three-fold in Penang because of an increase in surcharges imposed by the state government.
Former Penang Municipal Council's Town Planning Department actingdirector Khoo Boo Soon said the additional cost imposed on developers were eventually passed on to buyers, hence the drastic increase in property prices.
A real estate agent, who only wanted to be known as Chong, said even a semi-detached unit was priced at over RM900,000.
“Even the cheapest single-storey terrace unit in Bayan Baru is above RM450,000. And that is leasehold property,” said Chong.
Another agent, who wanted to be known only as John, also said it was impossible to get detached units on the island at the price quoted by Lim.
“We don't know where Lim got the figures from. On the ground, we cannot find detached units on the island at that price,” he said.
Another agent, who declined to be named, agreed that the price on Penang island had skyrocketed.
“The price of property on the island is crazily high. People have been talking about a burst in the property bubble for years but it never materialised.
“People continue to snap up properties although the price is steep as it keeps going up within months.” - The Star

Saturday, October 27, 2012

Let the house buyers beware!


To not educate yourself and learn from the mistakes of others only sets you up to be at best, disappointed and at worst, being house poor'
FOR many people, the purchase of a home is the most important financial decision of their lives. Therefore, it makes sense to approach the decision carefully.
The purchase of a home is unlike any other consumer product as it covers a lot of ground including legal, financial, technical and emotional considerations. To not educate yourself and learn from the mistakes of others only sets you up to be at best, disappointed and at worst, being “house poor”.
Caveat emptor! Let the buyer beware! The idea is that buyers take responsibility for the condition of the items they purchase, and should examine them before purchase. How true is this for the property buyers? It works well for buyers of completed units but not if you are buying an abandoned house to call it a home.
What happens if you have paid for your house and discover defects later which cost thousands of ringgit to repair? This would not have happened if you had used the services of a building inspector. His duty and responsibility is to give you a report on the condition of the house, and to check for permitted renovations, against shoddy renovations, before you buy.
The report would have given you room for negotiation with the seller too.
Most people are under the mistaken belief that the local council issuing the Certificate of Fitness for Occupation (CFO) will discover problems such as defects and shoddy workmanship when they issue it. They do not. Their job is strictly to ensure that there are no by-law violations or safety issues. They are not quality assurance officers and nor do they have that authority.
Furthermore, there could be problems with the house that are not necessarily related to by-law violations, yet have serious consequences for the new owner.
We believe that it takes three types of know-how to make a wise decision on a purchase: financial know-how; legal know-how and technical/engineering know-how.
In the first two, consultations with financial or legal experts are not a problem as those professionals, namely “buildings/home inspectors” are already in the market.
However, when it comes to the technical part, there is a lot of tension from the layman's point of view and the vendor's as getting a professional home inspection report has yet to be practiced by house buyers as one important process of the purchase. These building/home inspectors are themselves professionals like architects, engineers and surveyors.
The layman is only guided by his untrained eyes (to inspect), naivety assumptions. When it comes to quality and workmanship, new homeowners' problems are compounded by the fact that there is no degree of benchmark on buildings and its components for the layman to rely on.
In countries like the United States and Canada, home inspections are a standard practice in the purchasing process. Home inspectors conduct inspections of newly built or previously owned homes. Prospective home buyers hire home inspectors to inspect and report the condition of a home's systems, components, and structure.
They typically are hired either immediately prior to a purchase offer on a home, or as a contingency to a sales contract.
In addition to structural quality, home inspectors inspect all home systems and features, including roofing as well as plumbing, electrical, and heating or cooling systems.
After you have known what you are purchasing, the legal issue of sale and purchase contracts are the usual conveyancing routine in buying and selling transactions.
Checks will be made by the lawyers as to the arrears of quit rent and assessments rates at the land office and local council, respectively.
The potential buyers could also made checks at the utilities companies as to outstanding charges for service provided to the property.
Chang Kim Loong is the honorary secretary-general of The National House Buyers Association, a non-profit, non-governmental, non-political organisation manned by volunteers. For more information, checkwww.hba.org.my or e-mail info@hba.org.my - The Star

Land – the bread and butter of housing developers


INCREASINGLY, the number of new developments being advertised and marketed of late are located further away from Kuala Lumpur closer to Rawang, Cyberjaya and Putrajaya with the projects undertaken by some of the larger Bursa-listed property developers.
The trend of such developers moving into periphereal locations started a couple of years ago due to the scarcity of large pieces of land between 50 acres and 100 acres close to or in the city which explains why there is so much interest in the Sg Buloh Rubber Research Institute of Malaysia (RRIM) land.
If the core business of a company is property development, then land is virtually gold to them. Without land, they will not be able to develop anything which means no sales and no revenue. This is why, every year, developers have to launch new projects.
The replenishing of land bank has be to be done consistently and constantly, unless they already have a large land bank. This objective to have steady revenue year after year can be a challenge when there is a property downturn, which also explains why it is extremely important to avoid a property bubble.
In the last several years, developers have had multiple launches in order to cater to demand. The need to show a consistent stream of income may explain why some of our larger developers are also involved in the plantation sector. Plantation land can be converted into property development if and when the need arises.
Besides the availability of land, the next important issue is land price.
Some of the larger players which have purchased land in the Kajang, Semenyih and Bangi areas over the last couple of years include S P Setia Bhd, Mah Sing group and Dijaya Corp Bhd.
Last year, S P Setia bought 272.5ha, or 672 acres, of freehold land in Semenyih for RM381.26mil or about RM13 per sq ft.
A couple of years ago, Dijaya bought the 200-acre Kajang Hill Golf Club for RM228mil or about RM26 per sq ft. The price a developer pays for his land is important because at the end of the day, this will be reflected in his selling price.
Mah Sing Group Bhd is the other new player in the Bangi area. In May, it bought about 400 acres in Bangi for RM333.25mil or about RM18.50 per sq ft.
When a developer buys land that is not slated for property development, there is conversion cost. For example, if a piece of agricultural land is bought for RM10 per sq ft, it has to be converted into land for development. The land office will consider the price of other development land in the area. If the market price is RM20 per sq ft, there is a difference of RM10. The developer will be charged a premium of 25% of RM10 which is his conversion cost.
That means, in order to change the land status from agriculture to development land, he will have to pay an extra 25% multiplied by his land size. There are various factors that determine the cost of conversion.
The price Mah Sing is paying is benchmarked against rival developers. In this case, S P Setia's RM13 per sq ft versus the current land price of between RM25 and RM28 per sq ft in Kajang, according to RHB in May. This takes us back to the 2,330-acre RRIM land, which was sold to theEmployees Provident Fund for RM2.28bil, or RM22.46 per sq ft. This is unconverted agricultural land compared to S P Setia's and Mah Sing's land in Semenyih and Bangi respectively
A developer who wants to build on the RRIM land will have to first convert it to development land. There is a different price range for commercial and residential land, with commercial land being more valuable.
Apparently, Mont'Kiara land is already between RM600 and RM700 per sq ft, and the Tropicana land is RM200 to RM300 per sq ft.
Because some parts of RRIM land is next to Tropicana, when the land was parcelled out, the price may be rather prohibitive to smaller and less capitalised property developers.
Considering that large-scale developers have been land-hungry and have been buying into places in Semenyih, Kajang and Bangi, and the RRIM land being far more strategic, it is hoped that the Government, by virtue of the fact its cost of funds is cheap, will parcel a considerable portion of it for affordable housing.
The Government could also help by releasing other land under its plan to provide affordable housing for the people but as it stands today, it may, in all likelihood, also be further away from the city with places like Kajang, Semenyih and Nilai mentioned, among others.
Deputy news editor Lee Cheng is of the view that housing issue can become a social problem if not dealt with expediently. - The Star

Penang Real Estate | Penang Property | Penang Properties: Hillcrest Residences

Penang Real Estate | Penang Property | Penang Properties: Hillcrest Residences

恢复《屋租统制法令》? 有人欢喜有人愁


(槟城26日讯)马来西亚房地产发展商会顾问拿督庄友明强烈抨击,建议恢复《屋租统制法令》是开倒车之举,不只对屋主不公平,也会吓跑投资者,败坏槟州经济发展。
近期,乔治市世界遗产机构(GTWHI)及一些议员,建议恢复过去政府所推行的《屋租统制法令》(Rent Control Act)来严格管理屋租上涨幅度,并且可以重新吸引人潮回流乔治市,借以恢复市区的人气。
对此,庄友明不表认同,他揭露,过去30多年实施《屋租统制法令》时,许多二房东私下将房子以翻倍高的租金转租出去,套取更大的私人盈利,因此如果恢复《屋租统制法令》,这种情况一定继续发生,受惠的不是一般小市民,而是这些躲在《屋租统制法令》保护伞底下收取翻倍租金的人士。
庄友明:企图捞取选票
“最终吃亏的终究是那些屋主及那些可怜的租户;我认为提议恢复《屋租统制法令》者,根本是政客或受到政客利用的人,说穿了只是要企图赢取选票。” - 光华

Friday, October 26, 2012

Penang Real Estate | Penang Property | Penang Properties: Hill View Garden

Penang Real Estate | Penang Property | Penang Properties: Hill View Garden

Penang Real Estate | Penang Property | Penang Properties: Heritage Apartment

Penang Real Estate | Penang Property | Penang Properties: Heritage Apartment

Penang Real Estate | Penang Property | Penang Properties: Harmony View

Penang Real Estate | Penang Property | Penang Properties: Harmony View

Penang Real Estate | Penang Property | Penang Properties: Harmony Square

Penang Real Estate | Penang Property | Penang Properties: Harmony Square

Penang Real Estate | Penang Property | Penang Properties: Harmony Residence

Penang Real Estate | Penang Property | Penang Properties: Harmony Residence

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Heritage panel considering option of restoring the Rent Control Act


THE George Town World Heritage Incorporated (GTWHI) panel is discussing various ways to attract locals to continue living in George Town’s heritage enclave.
Panel committee member Mohd Zahry Shaikh Abdul Rahman, who is also a Penang Municipal councillor, said one of the options being studied was to bring back the Rent Control Act, which will set the limit on the rental payable by a tenant staying in a heritage building.
“More and more foreigners are owning the old buildings in the inner city since they have the purchasing power.
“After buying up these properties, they increase the rentals and this is a worrying trend as the locals may not be able to continue living in the heritage enclave,” he told a press conference at the City Hall after a full council meeting yesterday.
Mohd Zahry said the panel initiated the discussions in an effort to preserve local cultures in the inner city of George Town.
The panel also suggested that the council implement a heritage management plan, which would ensure better site management and for developers to comply with Unesco heritage guidelines.
The repeal of the Rent Control Act in 2000 saw more than 10,000 inner city dwellers with a majority of poor tenants living in pre-war buildings moving out to low and low-medium cost flats in the other areas. - The Star

Extra lanes on expressway to open soon


TWO new lanes of the Tun Dr Lim Chong Eu Expressway in Penang are set to open within a week.
A spokesman for the expansion and upgrading project said works were close to completion and would be officially launched by Penang Chief Minister Lim Guan Eng.
“The U-turn (at Persimpangan Bertingkat Gelugor) is completed and the awning at the new pedestrian bridge (near the Batu Uban marine police base) will be finished in the next couple of days,” the spokesman said.
She added that work had been slightly delayed due to rain but the lanes would be opened to traffic in the very near future.
Easing the jam: A new U-turn and acceleration/deceleration lane have been completed on the Tun Dr Lim Chong Eu ExpresswayEasing the jam: A new U-turn and acceleration/deceleration lane have been completed on the Tun Dr Lim Chong Eu Expressway
The expansion and upgrading work on the 400m stretch of the expressway began in January this year and was initially scheduled for completion in September.
The project, which reportedly cost RM3.7mil, is aimed at removing a bottleneck on the road near the marine police base that occurs when the expressway is reduced from three lanes to two lanes on each side.
The project also includes a new U-turn and acceleration/deceleration lane that would allow Bayan Lepas-bound vehicles to turn back to George Town without driving all the way to the Bayan Mutiara Interchange. - The Star

Chow: Highrise high density guidelines being finalised


GEORGE TOWN: The state government has clarified an online posting by blogger Anil Netto that the Penang Municipal Council (MPPP) has frozen high-rise density development.
Instead, State Local Government and Traffic Management Committee chairman Chow Kon Yeow said the guidelines for developers who want to build 87 units of houses per 0.4ha were still being fine-tuned, and not frozen as suggested by the blogger.
Chow stressed that applicants would find it more difficult after the fine-tuning is completed and enforced, as new conditions would be imposed on them.
“Applicants would be required to submit a Traffic Impact Assessment (TIA), and reveal whether the communal facilities would be surrendered to MPPP or not.
“They will have to submit a TIA report in their applications, to propose measures to be taken on alleviating traffic congestion when their projects are completed.
“Hopefully, they (the council) can complete the fine-tuning and sent it to the state planning committee to be adopted soon,” he said when met yesterday here.
He noted that several applications, which were also submitted before the fine-tuning, were still being considered.
He said that since the original guidelines were adopted by MPPP in 2010, only one project was approved under the category of 87 units per 0.4ha.
When contacted, Anil said his posting was based on the remarks by the MPPP president Datuk Patahiyah Ismail at a meeting with the representatives of the Penang Forum, which is a platform attended by non-governmental organisations here.
Anil said the forum participants had scheduled a meeting with Chow today. - The Star

PHT: City status is our right Miscommunication shouldn’t be an obstacle, says Salma


THE George Town city status is both the heritage and right of Penangites, according to Penang Heritage Trust (PHT) president Khoo Salma Nasution.
She said the city of George Town was a flourishing democracy in the 1960s and many citizens who had “tasted” that would like to see their “basic right” restored within their lifetime.
The city status, she added, should not be denied or forsaken due to administrative negligence or miscommunication.
Khoo was responding to reports that the Penang government was diligently pursuing the issue of George Town regaining its city status.
During the Malaysian Architects Association (PAM) ‘World Day of Architecture 2012’ celebration at a hotel recently, Chief Minister Lim Guan Eng said George Town was accorded the status by Queen Elizabeth II on Jan 1, 1957.
The theme for the celebration was ‘Architects are City Changers’.
According to earlier reports, the George Town City Council merged with the Penang Rural District Council to become the Penang Island Municipal Council in the 1970s.
This eventually led to the loss of the city status.
PAM president Saifuddin Ahmad said that this year marked the first time the association was organising the national celebration outside Kuala Lumpur.
He said although the Federal Government had redefined the parameters of what constituted a city, it did not take away the fact that George Town was the first urban area to be accorded the status.
“This was why we decided to hold the celebration here.
“For older and established cities like George Town that have been recognised as a Unesco World Heritage Site, the process of rehabilitation, regeneration and establishment of new developments need to be looked at,” he said.
He said since the Green Build-ing Index — a green rating tool jointly developed by PAM and the Association of Consulting Engineers Malaysia — was launched in 2009, Penang became the first state in the country to offer incentives for developers to obtain the certification.
In conjunction with the event, a one-day seminar featuring speakers like Khoo and Komtar architect Datuk Seri Lim Chong Keat was held. - The Star

Guan Eng denies Penang house prices increased 400%


GEORGE TOWN: Penang Chief Minister Lim Guan Eng has denied that the house prices in Penang had increased drastically by over 400%.
He said the price of condominiums/apartments only increased from RM301,500 to RM350,000, while the price of a detached unit had decreased from RM469,000 to RM415,000.
Lim said, in view of the rising property price, the state government had built 4,000 affordable units while the private sector had built 8,000 units since 2008.
Lim said the state planned to build another 18,000 affordable units, while the private sector would build another 20,000 units.
He said this in response to The Star report that the property price of condominiums/apartments increased by 499%, flats (339%), low-cost flats (157%) and detached units (103%) within a year.
According to the Penang Institute, the price of apartment/condominium went up from RM450,286 during the first quarter of last year to RM2.7mil during the corresponding period this year.
It was reported that the price of detached unit increased from RM1.7mil to as high as RM3.5mil, low-cost flats from RM68,000 to RM175,000, flats from RM132,000 to RM580,000 during the corresponding period. - The Star

Thursday, October 25, 2012

林冠英挑战蔡细历与星报 证明槟房地产价格飙升


(吉隆坡24日讯)槟城首席部长林冠英挑战《星报》及马华总会长拿督斯里蔡细历拿出证据,以证明槟州房地产的价格,从去年第一季度至2012年飙升。
蔡细历不应假造数据
他认为,蔡细历已在人民中失去道德公信力,也没政治权威,更不应再假造数据,欺骗人民来加强槟州屋价急涨的印象。
他今日发文告,针对蔡细历指槟州政府剥夺槟岛超过10万户家庭拥有房子的权利言论,作出反驳。
蔡细历也说,槟州房地产价格在短短一年内飙升,公寓价格上升411%、组屋339%、廉价屋上升157%及排屋上升103%。- 光华

冻结新发展密度计划 槟市局无权否决收回成命


(槟城24日讯)槟岛市政局被指“犯上”,向房地产商公会发出冻结新发展密度计划,唯在指示后,重新发出解冻信,收回成命。
槟岛市政局规划局本月向马来西亚房地产商公会槟城分会(REDHA)发出指示,冻结每依格87单位新发展计划,引起震惊,被指越权否决以槟州首长林冠英为首的槟州规划委员会(SPC)的指示;而在房地产商公会施压及晓以大义后,市政局终收回成命。
针对此事,槟岛市政局一站式图测审核中心(OSC)成员哈宾达星市议员向本报记者承认此事,他说有关冻结信是槟岛市政局规划局发出,公函也副本给市政局一站式图测审核中心。
他表示,在发现有关冻结信后,“我们认为市政局是无权来否决州政府规划委员会先前发出的每依格87单位的发展密度,市政局也在较后收回有关冻结指示。”;他进一步说,市政局规划局是在本月向房地产商公会发出冻结信。- 光华

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Don’t restrict to valuers only


WE are concerned over the recent Strata Management Bill tabled by the Housing and Local Government Ministry in parliament where it has been proposed that only licenced valuers be allowed as managing agents.
Are we turning the clock back as the current Building and Common Property (Maintenance and Management) Act and the Strata Titles Act do not specify that the managing agent must be from the valuer profession?
How true is it that the managing agent is now part of the valuer profession overnight with the passing of the Bill in parliament?
I am trying to search for an answer for this scenario as our private property are at stake.
I cannot find any, as all issues relating to managing our buildings do not involve the valuer.
I only came across accountants, lawyers, insurance agents, architects and engineers attending to accounting and budgeting, legal, insurance claims, building structure and M&E issues, respectively, as well as related professionals and technicians (electrical chargemen, for example) but not valuers as professionals attending to any of these issues mentioned.
There are also degree and diploma holders in other disciplines such as Business Administration, IT and Human Resource Management who are involved in the building management industry.
Can other professions insert a clause into their respective acts, claiming to be property managers by virtue that they are also part of the building management industry?
Since accounting and budgeting constitute a substantial part of building management, can accountants claim sole jurisdiction over building management?
It will be disastrous if the building management industry is monopolised by any one profession as it is a multi-disciplinary management function.
One must have years of experience in building management before one can become a managing agent.
It is not a profession but a
comprehensive management function.
When engineering, law, medical, pharmacy, accounting and valuation graduates complete their courses, they undergo internships or apprenticeships for specified periods of time in their respective professional entities.
A managing agent in a building environment does not undergo such internship by virtue of the multi-disciplinary nature of the function but acquires the necessary competencies through hands-on action learning.
He or she needs adequate broad-based management experience in the building management industry and not just in any one profession alone.
Indeed, there are many non-valuer managing agents who are registered professionals and regulated by their respective professional bodies.
It is grossly incorrect to say that they are not professionals in the building management industry, and that only valuers are.
I call on all private property owners to speak up against any attempt at monopolising the building
management industry by the valuers in the proposed bill, as the proper upkeep of our property is at stake.
We want the freedom to choose any suitably qualified persons or entities to manage our buildings and not be restricted to any one profession.
Even now, with the non-valuer managing agents practising as property managers there is a shortage of competent persons in the building management industry, what more if it is restricted to valuers, given that there are less than 800 of them and that very few are actively functioning as managing agents.
CONCERNED OWNER
Kuala Lumpur - The Star

槟房屋发展密度朝令夕改 恐影响2成房屋建不成


(槟城23日讯)槟州政府房屋发展密度禁令“朝令夕改”?在发出87单位密度发展冻结信后不久又收回成命,立即解冻禁令,不过这项新决定非政府组织却被“蒙在鼓里”,他们仍坚信冻结令有效。
陈福星证实市局解冻
本报于日前报道,槟岛市政局于上周四与非政府组织代表会面后,宣布暂时冻结所有87单位密度发展项目,岂知冻结令发出不足一周,市政局突然临时“煞车”,解冻禁令。马来西亚房地产商公会(REDHA)槟城分会主席拿督陈福星受询时,向本报记者证实槟岛市政局已解冻禁令。
他说,在先前即上个月的确有收到当局的冻结信,唯在公会反对及向当局汇报冻结令将引起的负面影响后,市政局已收回成命,解冻新高密度发展。“我们向市政局反对及提出冻结令将造成的影响,包括将造成发展商不能承建20%的可负担房屋单位,市政局在发信10天后就收回有关指示。”
他也认为,在州政府调高每依格87单位新发展密度前,享有土著发展优惠单位的发展计划也已获每依格78单位,所以87单位也只是稍微调高;再来他说,在此之前的中廉价屋组屋计划获得每依格120单位,所以87单位的密度相对比中廉价屋密度低。- 光华

Tuesday, October 23, 2012

市局产业转手价太高 老屋租户“被逼”搬家


(槟城22日讯)市政局拟以市价转手老建筑产业,造成获优先权提出献购的租户在财力微薄下,打退堂鼓,最终还是得易地而栖。
在乔治市世遗区边缘地带的崔耀才路一排9间双层楼老建筑为市政局产业,先前本报报导该排产业面对市政局通过公开招标方式拟转手后,即有投标者出价800万,唯有关买家在得标后又放弃,市政局在地方政府委员会主席曹观友建议下,为示兑现对当地商家居民的口头承诺,将献购优先权开放给原地商家租户及居民。
这些商家租户,于日前已获告知产业将会优先给原地的商家租户献议购买;据了解,虽然市政局还未发信向租户提出收购的献议,然而据称这些产业的献议收购价每间至少90万令吉起。市政局是依照乔治市入遗后的“好市价”转手这些产业,因此对一些商家租户造成压力,当地一些原地商家租户认为市政局出价太高,要求减价,否则只能乔迁他处。
陈氏兄弟:非一般租户能负担
从事传统鸡蛋糕点制作的“陈大猷商号”陈氏兄弟受访时表示,当地商家租户月前出席在光大一市政局官员汇报会议,会上官员献议租户献购他们现栖身及从事商业活动的市政局产业,并开出每间建筑单位拟以约90万令吉底价转手。- 光华

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Monday, October 22, 2012

Location important factor for affordable housing


KUALA LUMPUR: Location is the most important factor where demand for affordable housing is concerned, a property consultant said.
CH Williams Talhar & Wong Sdn Bhd managing director Foo Gee Jensaid during a presentation at CIMB Preferred’s 76th Financial Advisory Series that there was demand for affordable, but the Government would need to put location at the forefront where such property projects were concerned.
“There is always a mismatch when it comes to affordable housing. You can’t build 10,000 low-cost units in Bukit Beruntung even if you sell it cheap,” he said.
“You cannot expect someone who earns RM1,000 a month to live in Bukit Beruntung and work in Kuala Lumpur. The fuel cost alone will kill him. When I visited Iskandar Malaysia (in Johor), I saw affordable apartments that were ready for occupation priced at RM75,000. I was told sales were only 15%.
“There was a big ‘for rent’ banner showing RM300 and they are even providing a shuttle bus service. It is not only about building many homes. The public needs to know where.”
On the Government’s proposal to defray the cost of infrastructure borne by developers, Foo suggested that rather than providing subsidies, it would be better to limit the number of items that property firms had to contribute to.
“They (developers) even pay for the traffic light. There is such a long list. Consumers end up paying for all this.”
Prime Minister Datuk Seri Najib Tun Razak had said last week the Government was considering a model to help pay for infrastructure so that developers could sell houses below the market price.
“We can come up with a Government allocation to defray the infrastructure costs,” he said in an interview with Chinese radio station Melody FM, adding that developers interested in building affordable homes could approach the 1Malaysia people’s housing programme (PR1MA).
He added that PR1MA would be given unutilised government land to build the homes.
Foo also said there were many plots of land along the Sungai Buloh-Kajang line of the My Rapid Transit with potential to be developed into sites for affordable homes.
These include Kota Elmina near Sungai Buloh and government-owned real estate in Jalan Duta and Taman Suntex, he said, pointing out that they were underutilised in terms of plot ratio and density.
“If the Government is serious about providing affordable housing, it has to take care of the urban poor within this location, not at Kuala Selangor.”
On another matter, he said occupancy and rental rates for the condominium market was expected to stay depressed for the foreseeable future due to incoming supply.
In the first half of the year, the existing supply of serviced residences and condominiums numbered 22,000 but the average take-up rate in the capital was less than 2,000 units annually, Foo noted.
He pointed out that the KLCC area was particularly hard hit with occupancy and rentals heading “down south”.
“The year 2008 was the trigger point, and it has never really recovered. Prices are holding up but that does not correspond with rates and occupancy.
“Everybody is aware of the oversupply in KLCC. Land cost has become so high that developers who have obtained development orders cannot go ahead with their projects or launches.” - The Star