Members of the public were given an exclusive view of the property market at KSL Week which was organised by KSL Holdings recently. KSL Week was held at Canary Garden@ Bandar Bestari, KSL’s 448-acre flagship development in the Klang Valley which boasts a French-inspired garden.
KSL Week’s activities include two talks, a property showcase by KSL Holdings and test drive opportunities by BMW Malaysia.
Visitors and guests during the event received the latest updates on Canary Garden’s development progress for its residential phases, with completion slated for the second quarter of 2014. Also included in the presentation were the details of its 52-acre French garden and images depicting the progress of the first phase, the proposed Canary Garden club, as well as additional news and details of Canary Garden, dubbed the ‘Commercial City’.
The first talk, entitled “Greater KL Update and Growth Pattern for Klang” was presented by property valuer Ho Chin Soon as part of KSL Week, which featured KSL’s portfolio of residential and commercial properties. The second, presented by TY Teoh International national tax director Richard Oon addressed the property market in light of Budget 2014.
Property expert Ho Chin Soon delivers his talk entitled ““Greater KL Update and Growth Pattern for Klang”.
Ho, a fellow of the Institution of Surveyors and a registered valuer with the Board of Valuers, Appraisers and Estate Agents presented on the connectivity of the MRT project and the growth patterns, showing images of the railway lines that are being developed while discussing rising property prices. Ho also explained the Quick House Price Index, pointing out that Kuala Lumpur house prices have increased by more than threefold in the past 22 years.
He also spoke on Canary Garden being situated on the last freehold land in Klang and its position as the next growth corridor, seeing that the township is aligned to many highways such as the South Klang Valley Expressway (SKVE), Federal Highway, KESAS, the North- South Expressway Central Link and the proposed West Coast Expressway.
During the post-budget talk, Oon highlighted topics such as special relief for middle income tax payers and the decrease in individual income tax rates, also in view of the Goods and Services Tax (GST) that will implemented in 2015.
TY International national tax director Richard Oon.
Stating that “property investment is still a lucrative way of making money,” Oon said that the implementation of GST would affect investors during property transactions, and in relation to commercial properties prices as well as SOHO(Small Office/ Home Office) and SOVO (Small Office/ Versatile Office) units, depending on whether the units fall within the residential or commercial sector. Oon is attached to TY Teoh International, a leading consulting service provider, a member firm of MSI Global Alliance with more than 20 years’ experience in taxation and business advisory.
Visitors at KSL Week were also invited to test drive various models of BMWs courtesy of KSL Holdings’ collaboration with BMW Malaysia, with interested buyers being offered rebates of RM150,000. - The Star
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