Penang Real Estate | Penang Property | Penang Properties: Cascadia Apartment Wanted

Penang Real Estate | Penang Property | Penang Properties: Cascadia Apartment Wanted: Calling for owners of Cascadia Apartment, Pulau Tikus, Penang!!!

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Penang Real Estate | Penang Property | Penang Properties: Halaman Pulau Tikus Wanted

Penang Real Estate | Penang Property | Penang Properties: Halaman Pulau Tikus Wanted: Calling for owners of Halaman Pulau Tikus, Pulau Tikus, Penang!!!

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Penang Real Estate | Penang Property | Penang Properties: Festival Apartment Wanted

Penang Real Estate | Penang Property | Penang Properties: Festival Apartment Wanted: Calling for owners of Festival Apartment, Pulau Tikus, Penang!!!

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

For more information about Noble Villa, please click the following:-

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

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Penang Real Estate | Penang Property | Penang Properties: Putra Marine For Rent - Move in Condition (C62)

Penang Real Estate | Penang Property | Penang Properties: Putra Marine For Rent - Move in Condition (C62): Putra Marine Condominium For Rent, Sri Nibong, Penang Property

A Touch of Class yet one for the money

Rare opportunity that a genuine tenant ought not to be missed. You would regret for missing this lovely condo of Putra Marine Condominium.

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Strategic location & accessibility, near to Queensbay Mall and Bayan Lepas Industrial Area
Built-up: 2,400 square feet
4 + 1 bedrooms
Resort like Condo facilities
Fully Renovated & Furnished
Priced to rent quickly @ RM5,000
View to appreciate. Contact us for viewing!

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Penang Real Estate | Penang Property | Penang Properties: Noble Villa Wanted

Penang Real Estate | Penang Property | Penang Properties: Noble Villa Wanted: Calling for owners of Noble Villa Apartment, Georgetown, Penang!!!

We have ready buyers looking for Noble Villa Apartment, Georgetown, Penang. All are welcome as long as the price is right. Should you wish to let your unit here, you are also welcome to contact us.

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Kedah border projects to build on Thai, Penang growth

ALOR SETAR: The Barisan Nasional-led Kedah Government aims to exploit the potential of districts bordering Thailand in the north and Penang in the south to spur economic growth of Malaysia’s “rice bowl” state, says Menteri Besar Datuk Mukhriz Mahathir.

He said the south of Kedah comprising Sungai Petani and Kulim is reaping the spin-offs of Penang’s rapid development.

“The ties between Sungai Petani and Kulim with Penang are akin to that between Johor and Singapore. I am determined to develop southern Kedah by taking full advantage of Penang’s fast-paced development,” he told a media conference to mark his 100 days as Kedah Menteri Besar.

Among plans in the pipeline for Sungai Petani and Kulim are to increase rest and recreational activities that can attract Penangites especially during the weekends.

For areas in north Kedah bordering Thailand, Mukhriz said the state government hopes the Kota Putra project in the Padang Terap district and Kota Perdana Bukit Kayu Hitam project in Kubang Pasu will capitalise on the close relations with areas in southern Thailand as the source of economic growth.

He said the border areas can serve as a catalyst for tourist attraction, cashing in on visitors from Thailand crossing over to Malaysia through Kedah.

“Vehicles entering from Thailand are now heading straight to Penang, Kuala Lumpur and Johor without stopping over in Kedah.

“I hope we can do something to create activities such as building shopping centres that are attractive to them and there are goods that can be bought in this state,” he said.

Mukhriz said the state also intends to establish a logistics hub in northern Kedah to collect and distribute industrial products manufactured by the small and medium enterprises in the state throughout the country and to Thailand.

He said there are also opportunities to bring in products from Thailand to the hub for value-adding to meet the halal standard requirements and to obtain Malaysia’s halal certificate for the Malaysian market and for export.

“I think this is a good idea. We are studying it now. I can see that these activities will turn northern Kedah into a fast-pace growth area in sectors that are different from that in southern Kedah,” he said. — Bernama


This article first appeared in The Edge Financial Daily, on August 15, 2013.

Penang Real Estate | Penang Property | Penang Properties: Desa Samudra Condo For Rent (C61)

Penang Real Estate | Penang Property | Penang Properties: Desa Samudra Condo For Rent (C61): Desa Samudra Condo For Rent (C61)
Desa Samudra Condominium For Rent, Logan Road, Penang Property

Unbeatable! Low Density, Conveniently Located

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Strategic location & accessibility, Logan Road, near to Loh Guan Lye Hospital & Georgetown
Built-up: 1,100 square feet
3 bedrooms, 2 bathrooms
Condo facilities
Only 28 units
Furnished
Priced to rent quickly @ RM2,200 (Price drops to RM2,100pm)
View to appreciate. Contact us for viewing!

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Land transactions and notable developments

   

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MUCH has been written about the office market of late but there is another sub-segment of the property market that has been generating a bit of interest and this is in the area of development sale sub-segment where the Greater Kuala Lumpur and Johor Baru have been active in the development land transaction market, PPC International half-year report says.

Notable facts:

> Almost 90% of total notable land deals in Johor Baru are within Iskandar Malaysia, amounting to RM2.23bil.

> A “new price benchmark” was recorded in Puteri Harbour, Nusajaya @ RM334 per sq ft for agricultural land.

> The German ambassador’s residence was placed on the market for sale at RM200mil, an equivalent of RM2,500 per sq ft.

> Other than Greater KL, Johor and Penang, there was one notable land sale in Genting Highland, Klebang in Malacca and Seremban.

> The 1.43 acres commercial land in Genting Highland was transacted at RM8mil while the 16.8 acres reclaimed land in Klebang was transacted at RM54.3mil.

> Two plots of agricultural land in Seremban measuring 194 acres and 236.9 acres were transacted at RM7 and RM4.60 per sq ft respectively. This transaction was undertaken for the Bandar Seri Sendayan expansion.

> Mah Sing Group Bhd, via its subsidiary, bought one acre and the development rights on the adjoining 8.33 acres in Kota Kinabalu from Yayasan Sabah at RM21.9mil and RM163mil respectively. Together, both parcels of land are targeted for mixed development, to be known as “Kota Kinabalu Convention City”.

> Ongoing and upcoming mixed development in Greater KL

Tropicana Metropark @ Subang Jaya

n       An ongoing development on 88 acres

n       Estimated GDV: RM6.3bil

n       Developer: Tropicana Corp Bhd

n       Mixed development

n       May 2013: Phase 1, Pandora Service Apartments launched

n       Serviced apartments from 600-1,200 sq ft launched at RM780 psf

n       Completion: 2025

Magna Ecocity @ Section 15, Shah Alam

n       20 ares

n       Mixed development

n       Estimated GDV: RM1.4bil

n       Developer: Magna Prima Bhd

n       Second half 2013: ground breaking

Pantai Sentral Park @ Pantai Dalam, KL

n       Mixed dev on 58 acres

n       Estimated GDV: RM3bil

n       Developer: IJM Land Bhd

n       Second half 2013: ground-breaking

Yet to be named @ Jalan Bukit Bintang, KL

n       A 39-storey residential block on a 10-storey retail podium on 0.67 acres

n       Estimated GDV: RM800 mil

n       Developer: Urusharta Cemerlang (KL) Sdn Bhd

n       Expected launch: Fourth quarter of 2013

Quill City @ Jalan Sultan Ismail, Kuala Lumpur

n       A re-development of the abandoned Vision City on 7 acres

n       Estimated GDV: RM2.5bil

n       Mixed development

n       Completion: Third quarter of 2014 

The Star

Residential prices remain flattish

VARIOUS issues related to affordability and speculation continue to hog the overall residential market for the first half of this year. Coupled with the recently concluded 13th general election, the first half was “relatively sluggish”, property research reports concluded.

In fact, prices have been “flattish over the past 12 months”, one report concluded, due in part to the various cooling measures instituted by the Government.

The primary high-end condominium market appears to be performing better than the secondary market due to various incentives and attractive payment schemes and product offerings which come in smaller sizes in line with today’s market trend.

In the prime areas of KL city centre (pic) and Mont’Kiara, prices and rentals remain generally flat due to the high supply and a weak leasing market, says Knight Frank.

In its research report for the first half, PPC International Sdn Bhd says it “believes that the residential market is experiencing a general slowdown.”

This view, the report says, is supported by falling transactions. The total volume of transactions in the first quarter of this year dropped to 17,796 units compared to 23,790 units in the same period last year.

The existing residential property stock for the first half of this year is 4.67 million units. However, the new planned supply dropped to 31,677 units in the first quarter of this year from 32,472 for the same period last year.

“The drop in the total planned supply for Malaysia could be interpreted as a sign of developers exercising caution in launching new residential projects,” the report says.

The slower momentum, however, is not evidenced in Johor, especially in Iskandar Malaysia.

“The average house price dropped from RM251,731 in the last quarter of 2012 to RM245,036 in the first quarter of 2013. Kuala Lumpur, Selangor and Penang also experienced a decline in average house prices.

“However, there is no specific record on falling prices of any category of real estate. We believe, the drop in average house prices is largely brought about by higher volume of low to medium cost residential units sold.

“Against this environment, PPC believes that the residential market is experiencing a general slowdown,” the report says. The demand for landed housing continues to be high, notwithstanding the fact the returns do not justify as investment properties, the report says.

Going forward, the interest is expected to hover around developments close to the ongoing MRT/LRT extensions.

Knight Frank says prices of condominiums in the secondary market in the suburban areas are expected to continue to perform well, supported by sustained local demand.

“Prices of well-located high-rise properties that are managed well continue to appreciate, closing the gap between primary and secondary prices,” the Knight Frank report says, adding that yields continue to be compressed as price increments/high selling prices do not correspond with the lagging rental market.

In the primary market, there were a few high-rise residential property launches towards the end of the first half. Enquiries with developers by property consultants revealed good takeup rates of these developments.

Among the most prominent is Venus Assets’ Four Seasons Places located within KL city centre, the first of its brands in South-East Asia.

“The popularity of global branded residences continues to be on the rise, setting a new definition to luxury living complete with hotel supported services,” Knight Frank says.

The average selling price for Four Seasons Place is in the region of RM2,500 per sq ft with buyers comprising mainly Malaysians and foreigners from Japan, Hong Kong and Taiwan.

More launches have been scheduled for the second half with a certain degree of “caution”, taking the queue from overall global situation.

The PPC report says “house prices recorded by the National Property Information Centre indicate that the market is creeping into a consolidation phase.”

“PPC does not foresee a definite impact on the demand from young professionals, given the shorter home loan repayment period and the pricing of residential market which is beyond their financial income bracket.”

While foreigners will be attracted to predominantly Kuala Lumpur city centre, Penang and Iskandar Malaysia, local purchasers will be geared more towards purchasing township developments, especially landed homes, the PPC report says.

Moving forward, 2013 will also see developers acquiring land for medium-sized developments.

While the market generally is in a cautious mode, the outlook for residential market in urban locations is bullish, it says. - The Star