Malaysia property mart expected to moderate next year

KUALA LUMPUR: The property market is expected to moderate in 2012 due to continued slowdown in global economy amid growing concerns on the Eurozone debt.

The uncertainty in the market in view of the impact from the upcoming 13th general election will also influence the expected lacklustre performance in the property sector next year.

Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector (PEPS) immediate past president James Wong said he expects banks to be more conscious in loan approval next year as loan eligibility is now based on net income as compared to gross income previously.

"Over the years, property sector experienced oversupply of product, especially in the high-end condominium and offices. In addition to other factors that were mentioned, we expect to see a dip in property market performance next year," Wong said.

During the first half of this year, the property market registered an overwhelming 214,764 transactions worth RM64.75 billion. This represents a growth of 18 per cent and 29.7 per cent respectively against the same period in 2010.
"The year 2010 was acknowledged by all as a good year for the residential sector, which was then reflected in the volume and value of transactions," said Wong.

The market was expected to soften this year but it went against the odds, spurred by government projects, especially those under the Economic Transformation Programme (ETP).

PEPS president Choy Yue Kwong said the world is concerned with the possible contagion effect of the Eurozone financial crisis.

"Locally, home property prices have risen significantly over the past two and a half years and the market is concerned if there will be a property bubble," Choy said.

He said these are among the issues that will be discussed in the upcoming Fifth Malaysian Property Summit 2012 (5MPS), which will be held on January 17 next year.

PEPS, which is the organiser of 5MPS, has lined up eminent speakers like Knight and Frank Malaysia managing director Eric YH Ooi, KGV International Property Consultants (M) Sdn Bhd executive director Anthony Chua Kian Beng and deputy managing director CH Williams Talhar and Wong Sdn Bhd Danny SK Yeo. By Zurinna Raja Adam - Times

Beauties in trishaw ride down heritage trail

GEORGE TOWN: Fifty-two beauties went on trishaws to take in the sights and sounds of the various places around the Unesco heritage area here.

The trishaw ride with the Miss Tourism International 2011 participants lasted more than a hour.

They were taken to landmark locations like Fort Cornwallis, Town Hall, City Hall, the State Assembly Hall, the Goddess of Mercy Temple and the Hainan Temple.

They ended their ride at the Cheong Fatt Tze Mansion where they sampled Penang’s hawker delights.

On Thursday night, they gathered at the Straits Quay Convention Centre for a charity auction banquet dinner.

The function raised RM40,000 for three charities – the Penang Adventist Hospital’s Dr J. Earl Gardner Fund, the Lions Club of Penang Light’s Prosthetic Limbs Fund and the Association of Resource and Education for Autistic Children. - The Star

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前屋主欠各项费用拖累 女书记购拍卖屋不能入伙

（吉隆坡16日讯）43岁女书记购买一间被拍卖屋的公寓单位，讵料前屋主被指还未缴清欠下的各项费用，以致女书记四处奔波逾一年，以及缴付逾2万令吉杂费，仍无法入住有关单位。
求助者李玫瑰去年11月16日，以6万4800令吉购买甲洞中央花园一间6层楼公寓的单位，有关单位是银行拍卖的，她当时已缴付10%订金和签署买卖合约。
求助者指有关公寓已有十多年历史，每个单位870平方公尺，拥有三间房间。不过，由于前屋主欠下逾万令吉地税、门牌税和管理费等杂费，因此，她无法入住有关单位，如今，她还是和丈夫以及两名孩子在当地租屋居住。
已缴付2万令吉
求助者已缴付2万令吉各类费用，由于四处求助无门，周一向马华公共服务及投诉部法律顾问拿督汤木求助。
汤木说，保守估计，求助者须缴付共8万令吉，才能购买和入住这间单位，不过，他引述李玫瑰的代表律师的话，指后者有信心在今年杪解决此事。
他已接获15宗在巴生谷发生的类似案件，由于购买者没有相关知识而吃亏。
“银行拍卖产业后，购屋者须在120天内缴付余额，或超过一个月就得安时缴付利息，因此，购物者需另找银行处理贷款事宜；而各州州属境内的单位购物者，还须另外向州政府申请办理手续，花费不菲。”
汤木说，永久地契产业就不会面临这类问题，他建议政府和财政部商讨，规定前屋主和银行解决所有债务，以及了解发展商是否被清盘等，才进行拍卖活动，以示公平。
他说，这也涉及消费人的权益，购屋者协会也应关注和向财政部反映。

相关照片

■ 李玫瑰（左）向汤木反映购买拍卖住宅单位的问题。

Hunza plans RM7b Penang project

GEORGE TOWN: Hunza Properties Bhd will submit plans to the local authorities next year for a mixed-development project in Bayan Baru with a gross development value (GDV) of RM6bil to RM7bil.

Executive chairman Datuk Khor Teng Tong told a press conference after the company's AGM that the group had engaged a couple of architects from Singapore to draw a master plan for the project sited on over 16.2ha, opposite the Bukit Jambul Complex.

Khor said the group had just acquired 2ha for the development of 1,000 units of low-cost homes for the households currently occupying the over 16.2ha site.

“We have initiated steps to obtain approval from the local authorities to develop the low-cost homes. Once the approval is obtained, it will take about 18 months to complete the low-cost project,” he said.

On the Gurney Paragon Mall, Khor said the second phase of the project would be completed next year-end and would open in March 2013. The second phase, comprising the corporate headquarters and shopping mall, was now 50% completed.

“The first phase has been completed with certificate of fitness obtained,” Khor said. - The Star

Industrial frontier expanded in Batu Kawan

THE state has expanded the industrial land in Batu Kawan, Penang, to accommodate demand from investors as Bukit Minyak Industrial Estate and Penang Science Park in Seberang Prai have been fully taken up.

Chief Minister Lim Guan Eng said the state had expanded the industrial land in Batu Kawan to 1,619ha.

“When completed, the Penang Science Park, which is located in Bukit Minyak, will be the country’s largest technology park.

“The state has plans to turn Batu Kawan into a satellite town, just like Bayan Baru and Seberang Jaya,” he said at the opening of the Ixora Hotel in Bandar Prai Jaya in Butterworth on Wednesday. 

Also present were Indonesian Consulate-General Chilman Arisman, Deputy Chief Minister II and Batu Kawan MP Dr P. Ramasamy, state exco member Lim Hock Seng, hotel managing director Datuk Ng Swee Chin and general manager Winston Toh.

Strategically located along Jalan Baru, the 326-room hotel is right next to Megamal Pinang and within walking distance to shops, restaurants and cafes. It is also close to an industrial estate.

Be our guest: Receptionists Chou Tze Xien and Shazmira Abd Rahim showing the welcome gesture at the front desk.

Lim said the first phase of eco-tourism projects in Batu Kawan, which involved the Batu Musang jetty, had been completed while the second phase involving the construction of a seafood centre, gallery and chalets was under con-struction.

Ng said he decided to name the hotel after a flower.

“Our aim is to provide extraordinary services to our customers,” he said.

Toh said 90% of the hotel staff were locals, adding that they aspired to make Ixora one of the best hotels in Penang. - The Star

New hotel in Seberang Prai opens doors

SEBERANG PRAI’s latest business hotel, The Ixora Hotel Prai, opens today with the aim of pampering business travellers and holidaymakers.

Strategically located along Jalan Baru in Bandar Prai Jaya, the hotel is right next to Megamall Pinang and within walking dis-tance to shops, restaurants and cafes as well as close to industrial estates.

Penang Chief Minister Lim Guan Eng is scheduled to launch the hotel which is geared towards meeting the development needs of Seberang Prai which has a limited number of hotel rooms for business travellers.

Its general manager Winston Toh said the hotel was an ideal place for business travellers while families could go shop and dine at the nearby Megamall Pinang.

Meeting needs: Toh (foreground) standing in front of the new hotel. With him are (from left) resident manager Teh Beng Ho, assistant front office manager Kenji Wong and assistant director of sales Mohd Faishal Mohd Yusoff

“Our ballroom is one of the largest on the mainland as it can accommodate about 1,000 people for events such as wedding dinners and corporate functions,” he told a media briefing at the hotel.

All the 326 hotel rooms are equipped with LED TVs and there is free WiFi in the rooms and in the other hotel areas.

For details, call the hotel at 04-3828888 or email info@ixorahotel.com or surf the website www.ixorahotel.com. - The Star

Demand for luxury homes

LUXURY homes will continue to sell in 2012 despite the uncertainty in economy outlook.

SP Setia Bhd general manager (property division — north) Datuk S. Sundarajoo said people would still buy homes although there could be a slowdown as they wanted to make observations before deciding.

“It won’t come to a crunching standstill,” said Kuala Lumpur-born Sundarajoo, who helms the company’s three substantial housing projects in Sungai Ara and Relau.

Sundarajoo said luxury homes would definitely sell given the right pricing, product and timing.

He added that it was also important to sell the right amount of units. 

Sundarajoo was speaking to reporters at the official launch of the four-storey Pearl Villas at Setia Pearl Island in Bayan Lepas on Saturday.

The 49-year-old described the five-bedroom villas as ‘cream of the crop’ in luxury homes.

“It’s the last piece of landed property in Setia Pearl Island.

“Built under the ‘Zero Lot Villas’ concept, the freehold villas are the first of their kind in Penang,” he said, adding that he was confident the units would be selling fast.

Priced from RM2.98mil onwards each and with a spacious built-up area of 6,577sq ft onwards, the villas offer exceptional value for money.

“Our terrace units are already selling at around RM400 per sq ft, while the villas are priced at RM456 per sq ft,” he said, commenting that the difference was not much.

He said there was a demand for such homes by buyers who were keen to upgrade their homes.

“There are also many multinational corporations (MNCs) interested due to the proximity to the airport and the Bayan Lepas Free Industrial Zone (FIZ),” Sundarajoo said.

He added that there were only 35 units of the villas with eight already sold and three reserved since the project was opened for sale on Dec 9.

The villas feature a viewing and function deck which can be converted into rooms, home automation as well as a private pool and lift.

The villas are also built and designed according to Singapore’s Construction Quality Assessment System (CONQUAS) certification to ensure that only homes of high quality standards and excellent workmanship are delivered to homeowners.

The expected date of completion is end of 2013.

A promotion is on-going until end of the month which will allow buyers to enjoy savings of about RM400,000.

For more details, call Setia Promenade Sdn Bhd at 04-6422255. - The Star

Cycle lanes mooted for mainland

BICYCLE lanes on state and town roads in Seberang Prai would first cover a 5.71km road stretch on the Butterworth Outer Ring Road (BORR).

Seberang Prai Municipal Council (MPSP) president Maimunah Mohd Sharif said this would be followed by bicycle lanes on a 1.85km stretch of road on Jalan Datuk Ahmad Said and on a 1.86km stretch on Jalan Bagan Luar in Butterworth.

She said of the total 140km stretch of town and state roads that would have the bicycle lanes in the mainland, 30km would cover roads in north Seberang Prai, 90km in central Seberang Prai and 20km in south Seberang Prai. 

“The public can give their feedback and suggestions on our bicycle lane proposal to our secretariat or via the three district offices on the mainland before Jan 31.

“We will also hold an exhibition at our office next month, after which we will analyse the suggestions before carrying out the proposal by March,” she said after a meeting by Chief Minister Lim Guan Eng with heads of department at the MPSP headquarters in Bandar Perda yesterday.

Pedal power: A map showing the proposed bicycle lanes in Seberang Prai, Penang

Lim said some parts of the particular road stretches would have dedicated lanes, while some narrow stretches would be shared lanes with other motorists.

“We want Penang to be the first state to promote cycling as a healthy activity as well as to re-duce our high dependency on motorised vehicles,” he said after chairing the meeting.

Lim also suggested that the proposed bicycle lanes, which would be created by the council, be extended by an additional 60km to cover Sungai Petani from Penaga in Kepala Batas and Kulim via Machang Bubok, in Bukit Mertajam.

He said some stretches of the proposed bicycles lanes meandered through picturesque and scenic views of the sea, rivers, hills and an island — Pulau Aman — which would have its own bicycle trek.

He said while cyclists were advised to look after their safety when using the bicycle lanes, other motorists must give priority to them.

For details on the proposed bicycle lane stretches, visit the council’s website at www.mpsp.gov.my. - The Star

Travel writers find George Town won’t strain their wallets

GEORGE Town is definitely doable on a budget with its reasonably cheap food and lodging options. The attractions in this Unesco World Heritage-listed city are also within walking distance of one another.

A group of 20 Malaysian and regional writers and bloggers found that out for themselves when they took part in a specially organised three-day and two-night tour under the theme ‘Budget Traveller Guide to George Town’.

Historic house: The writers and bloggers listening to a guide speak on the history of the Cheong Fatt Tze Mansion

During the visit, the group visited various places of worship along Jalan Masjid Kapitan Keling, as well as the Chowrasta Market, Penang State Museum, Cheong Fatt Tze Mansion, Pinang Peranakan Mansion, Fort Cornwallis, City Hall and the Clan Jetties, among others.

They also feasted on tasty local hawker fare like koay teow soup, laksa, cendol and char koay teow and got a peek at how popiah skin and Nyonya kuih are made.

Local snack: Participants of the tour trying their hand at making karipap

Sabahan blogger Caroline Ng said the Penang laksa was one dish she would always remember.

In Kuala Lumpur, she had a bowl of laksa which she didn’t like and she was adamant she wouldn’t try the dish again.

She was persuaded to give the dish a try in Penang and enjoyed it.

“The one I had here was lovely. I never expected to wallop a whole bowl of it,” she said.

“This trip was an eye-opening experience, travelling around on a budget.

Unique sight: The budget travellers visiting the Clan Jetties

“At first I thought RM100 a day wouldn’t be enough for meals. But I ended up spending around RM25 only, and I ate about 10 times!” she quipped.

An Indonesian travel writer, who wanted to be identified by her pen name Trinity, said that although she had been to Penang before, this trip got her acquainted with many new sights and sounds.

“We were able to experience the culture of locals, to see and eat local things, not the touristy stuff.

“It is definitely value for money, you spend less but get more. Penang is well known among Indone-sians, but more for its medical tourism.

“We do not really go out and explore the island,” she said, adding that this was something she hoped to change through her writings upon her return.

The event was organised by Project Penang, a joint effort by the Tourism Ministry’s Penang Office (MOTOUR) and PenBlogger Online, with support from AirAsia and Rapid Penang.

Vintage clothing: Travel writer Derek Wong taking photos of traditional Nyonya attire during the group's visit to the Pinang Peranakan Mansion

According to MOTOUR Penang director Jaime Yeoh, the whole aim was to let the group experience the city in a practical way, in the hope that their subsequent writings would help provide prospective visitors with helpful travel tips and information.

The office has also come up with an informative map, detailing the attractions within the city, how to get there, and how best to organise an itinerary.

“With George Town selling itself as a heritage city, it’s important that there are also elements that are engaging, interactive and affordable, for visitors to experience.

“The younger crowds have the impression that the inner city is just old buildings.

“But behind the façade, there are many things to see and do. And we hope their writings will give tourists an informative guide on how to experience George Town,” Yeoh explained during a farewell dinner for the writers.

Hong Kong travel writer Celia Cheng reveals that her countrymen have a penchant for travelling, and she hopes her newfound insight would help bring those tourist dollars to Penang instead of elsewhere.

Echoing a sentiment expressed by tourists countless times over the years, most of the group members also feel that the island needs better public lavatories. - The Star