BMAM urges Govt to change the term property manager in strata bill

PETALING JAYA: The Building Management Association of Malaysia (BMAM) is lobbying to the Housing and Local Government Minister to amend the term “property manager” to “building manager” in the Strata Management Bill.

President Datuk Teo Chiang Kok said the “property manager” should be substituted with a more open term, and not be subject to the interpretation of valuers.

Under the new bill, the association said that property management would be monopolised by licensed valuers following the use of the term “property manager”.

Therefore, it came up with the proposal to use the term “building manager”.

BMAM has proposed the definition for “building manager” to be “any person who has been deemed competent to undertake the normal functions of building management and who has been accredited to, or admitted as a member of, or duty certified by an appropriate professional or registered body”.

BMAM secretary-general Prof S. Venkateswaran said if the bill was gazetted into an act, about 80% of joint management bodies (JMBs) would end up jobless.

Furthermore, the minimum fee that valuers must charge under the proposed act is RM50 per unit, which would be “a great burden to stratified property owners”.

“More than 2.5 million low and middle income earning Malaysians live in flats and apartments countrywide, and they are grappling with the ever-increasing costs of living.

“Any additional layer to building management in the form of a monopoly favouring licensed valuers will most certainly burden them financially, bearing in mind that many of them are registered voters,” BMAM said.

It is understood that BMAM was not consulted or requested to attend or contribute input at any workshops and meetings that were held prior to the drafting of the bill.

The association had released a statement to clarify issues raised by the Malaysian Institute of Professional Property Managers and the House Buyers Association.

Among the issues highlighted were the fiduciary duties and responsibilities of JMBs and management corporations, professional indemnity insurance coverage, Valuers, Appraisers and Estate Agents Act, 1981 scale of fees, building management as a multi-disciplinary function, and the monopolisation of licensed valuers on the management of property.

BMAM is the only multi-stakeholder organisation that represents stakeholders in the building industry and property owners. - The Star

Penang Real Estate | Penang Property | Penang Properties: Miami Green For Rent (C19)

Are you looking for a unit of condo in Batu Ferringhi, Penang? If yes, do consider this Miami Green Condo with resort type facilities. Seaview, renovated & fully furnished. Only RM2,200 per month.

Penang Real Estate | Penang Property | Penang Properties: Miami Green For Rent (C19)

Should you need any further information, please click here to contact us, Penang I Property. Thanks

Penang Real Estate | Penang Property | Penang Properties: Alila Homes For Rent (T2)

If you are looking for landed property with club house facilites, don't miss this. Limited unit. Tastefully renovated & furnished, good condition. Only RM2,300 per month.

Penang Real Estate | Penang Property | Penang Properties: Alila Homes For Rent (T2)

Should you need any further information, please click here to contact us, Penang I Property. Thanks

Tanah Dikehendaki Di Pulau Pinang

Sesiapa yang mempunyai tanah untuk dijual di Pulau Pinang, sila menghubungi kami dengan segera kerana kami ada pembeli.

Untuk menghubungi kami, sila klik disini. Terima kasih.

Owning a home - benefit or burden?

Property ownership is seen as an essential part of wealth creation by many Malaysians but there are some who rent for various reasons.

IN all her 19 years of being employed, Sofia (not her real name) has never once felt the need to buy her own house and that's exactly how she likes it.

“I value my freedom too much. I like the feeling of being able to just quit my job, pack up and get on the next plane, and take off.

“I don't want to be tied down by a housing loan for 20 to 30 years because if I want to travel, I'll have to worry about paying my loan or renting out my place,” says the 40-something writer.

Instead, Sofia rents a 1,200 sq ft (111sq m) fully-furnished apartment for RM1,400 a month, a price she is comfortable paying.

“I've been staying in this apartment for the last 10 years, and the rent hasn't really gone up. But if it does, I would consider looking for another place.

“I'm not married, don't have children My two sisters are also not married, and we have the family home in our kampung. So I really don't see a need to buy my own house,” explains Sofia, an avid globetrotter.

She adds that there are other factors behind her decision to rent rather than buy.

“I'm a Muslim, and because I have no male kin, when I die, the law is such that the state takes a share.

“For my lifestyle, this works out best. I love to travel and eat, and I'm not willing to give that up. I don't have a house, but I think I've been able to live a quality life. It's a deliberate choice,” she says.

For others, such as Navesh (not his real name), 32, being a property owner is the way to go.

“For me, renting doesn't make sense. Instead of paying rent, I'd rather pay for the mortgage, and at the end of it, I own the property.

“It's also forced savings for me because if I don't use the money to pay for my properties, I might be spending on other things. But now, it's going towards accumulating an asset,” he says, adding that the property investment would act as a hedge against inflation.

Navesh, a banker, currently owns a double-storey semi-detached house, and a Soho unit which is rented out for RM2,000 a month. Both are in the Klang Valley.

“I'll be moving into the house after my wedding next year,” says Navesh who now lives with his parents.

The monthly instalments for his house and Soho come up to RM3,500 and RM1,400 respectively, but Navesh, who earns about RM10,000 a month, says he doesn't feel burdened by the payments.

After deducting the rental income from his Soho unit, he pays a total of RM3,000 towards his loans.

“Also, I'm quite low maintenance I don't club often or have expensive hobbies, and I'm not really fussy about buying branded items,” says Navesh, who drives a Toyota Vios.

He is open to selling his property if he gets a good opportunity to work elsewehere.

RAM Holdings Bhd group chief economist Dr Yeah Kim Leng notes that in the Asian culture, property has always served a dual purpose consumption and investment. And because the value of property in Malaysia has steadily climbed over the last few decades, it is seen as an essential part of wealth creation by many Malaysians, he says.

Interestingly, The Economist recently published a debate on home-ownership titled “Should home-ownership be discouraged”.

In that debate, Andrew Oswald, Professor of Economics with the University of Warwick, said it should.

All for renting

“Modern generations have been brainwashed into believing there is something wrong with them if they rent,” he said, in his argument.

Citing examples from Europe, he pointed out that home-ownership did not always equate to a thriving nation.

Switzerland, for example, “has tiny unemployment, wealth, high happiness and mental-health scores; visible democracy; people flocking to get in. Does it have high home-ownership rates? Absolutely not. In Switzerland, about seven in 10 of the population are renters. Yet, with Europe's lowest home-ownership rate, the nation thrives.

“Spain has approximately the highest home-ownership rate in Europe (at more than 80%). One-quarter of its population is unemployed, and Spaniards leave their country in droves,” he argued.

Oswald added that high levels of home-ownership “mess up the labour market” because it does not encourage mobility.

“In a sensibly functioning economy, it is easy for people to move around to drop into the vibrant job slots thrown up by technological change. That movement is particularly necessary for the young, who are looking for their early jobs. High home-ownership in a nation is like a treacle blanket thrown over the surface of the country and economy,” he said.

Against the motion, however, was Richard K. Green, director of the USC Lusk Centre for Real Estate who reportedly argued that the statement “home-ownership inhibits mobility” was impossible to prove.

He said it was more likely the other way around where “people who choose not to be mobile are more likely to become home-owners”.

“But what if home-owning does indeed impede mobility? There are benefits as well as costs to stability. For example, stability of tenure has been associated with good outcome for children,” he said.

He added that home owners with an equity stake in their communities had a greater interest in making sure their common areas were well maintained (such as better schools) as these would be reflected in higher property value.

Currently, demand in Malaysia for residential property outweighs supply, which is one factor that has contributed to sky-rocketing prices in the last two years.

“As of June this year, there are 4.5 million residential units in the country but an estimated 6.5 million households,” Dr Yeah says, citing statistics from the National Property Information Centre.

Property takes the biggest cut of the pie in Malaysia's Net Capital Stock. According to the Department of Statistics, in 2010, Structures and Buildings (which covers residential and commercial properties) was valued at RM996.5bil, about 66% of the total Net Capital Stock of RM1.5tril, compared with other asset types.

(Net Capital Stock reflects the market value of the stock of fixed assets in the economy and, as such, provides an important indication of overall wealth.)

In an effort to make homes more affordable, Prime Minister Datuk Seri Najib Tun Razak announced that a total of 123,000 affordable housing units priced between RM100,000 and RM400,000 will be built next year under an allocation of RM1.9bil in the 2013 Budget.

These houses will be built in Kuala Lumpur, Shah Alam, Johor Baru, Seremban and Kuantan.

These efforts are commendable, says Malaysian Rating Corporation Bhd (MARC) chief economist Nor Zahidi Alias, but “the speed of the implementation is key to its success”.

“The measures introduced by the government are rather mild in our view, as there is fear of a broad-based decline in property prices,” he says in an e-mail interview.

He adds that more measures can be used to stabilise the property prices here, such as limiting the purchase of landed property to Malaysians only, giving the example of our neighbouring countries where foreigners are not allowed to purchase landed property.

For many Malaysians such as Navesh, owning their own property is still the preferred choice.

“I don't worry too much about it I don't see it as tying me down. I don't remember ever wanting to buy or do something, and not be able to afford it because of my properties,” he says. - The Star

Inexpensive ways to increase your home’s resale value

WHEN it comes to selling your home, the old adage “location, location, location” is the mantra for success.

However, a strategically located property is not the only criterion for getting the best resale value for your home. First impressions can speak volumes for potential buyers when they walk into a house that's up for sale, and for many, appearances can either make or break a deal.

That's where home-staging comes in.

A good home-staging technique is to bake fresh cookies or bread to give the house a family home-like feel.

According to US-based property website HomeBuyingInstitute.com, home-staging is the act of preparing a home (and its contents) for sale, with a special emphasis on presentation and appearance.

“Staging a home for sale normally involves things of an aesthetic nature, such as design, organisation and overall appearance (as opposed to mechanical or functional improvements),” it says.

The website says that the goal of staging is to improve the home's appearance in the eyes of potential buyers, with the ultimate goal of selling the home more quickly and for the highest possible price.

The concept of home-staging is popular especially among countries in the West. In Malaysia, however, the idea hasn't quite taken off at least not officially.

“In Malaysia, the mindset is a little different. A seller rarely spends money to spruce up a property before selling it because the new buyer will almost always tear it down and end up making new changes to it,” says Malaysian Institute of Estate Agents (MIEA) deputy president Siva Shanker.

Siva: ‘In Malaysia, the mindset is a little different.’

“Sadly, the house is like a tong sampah(rubbish bin) and will just end up being sold in the condition of a tong sampah,” he enthuses.

MIEA president Nixon Paul concurs that the concept of home-staging is rare in Malaysia.

“It's rarely done. In the secondary property market, if the buyer is still staying in the property, then he might clean it up a bit. But if the house is empty (if the seller is not living there), nothing will be done.”

Siva however notes that “home-staging” in Malaysia is done to an extent when estate agents host open houses, or when developers have an official property launch.

“When developers have an official launch, the showhouse will usually look quite amazing. A lot of design and ideas, often worth hundreds and thousands of ringgit, are put into it.

“The prospective buyer will end up buying an empty shell. But when he sees the developer's showhouse, he is fuelled into thinking that he can also do the same thing. In Malaysia, developers have perfected the home-staging concept into a fine art. But among individuals, it's not so popular.”

Still, the smart seller should realise that a cleaner, better-looking house would be more appealing than one that looks dirty or run down. And unlike the developers' version of fine-art staging, individual home-staging doesn't have to cost you a bomb.

The following are some simple, relatively inexpensive home-staging ideas that can help you boost your property's resale appeal.

Clean it up

Paul: The concept of home-staging is rare in Malaysia.

According to an article by American real estate magazine Homes & Land, when it comes to home staging, less is more.

“Few things are less attractive than clutter and one of the first lessons of proper home staging is to clear out the clutter. Clutter is not only visually unappealing, but it makes the house feel smaller and less spacious.

“Additionally, clutter makes it difficult for prospective buyers to visualise their own furniture and belonging in the home a critical step to making a sale,” it says.

One industry observer says a fresh coat of paint can also help spruce up the appearance of a property.

“It makes your house look clean and new. Also, painting the walls with bright colours, especially white, helps make a room look bigger then it actually is,” she says.

Siva also says anything that's broken should be fixed or replaced as soon as possible.

De-personalise it

According to online financial website Bankrate.com, packing away personal items is one of the simplest and cheapest ways one can do to help sell their house.

“The reason you want to de-personalise' your home is because you want buyers to view it as their potential home.

“Prospective buyers won't be able to picture themselves in the house if they're surrounded by dozens of photos of your children and grandparents,” it says.

Set the mood

When inviting potential buyers into the house that you wish to sell, one should strive to make the experience as pleasant and comfortable as possible, says Nixon.

“When you bring in prospective buyers, you should turn on the air-conditioning and play soft, soothing music to make the atmosphere comfortable. This is so that when people walk in, it's a feel-good experience.”

One industry observer points out that the home should not feel “stuffy.”

“If you have no air-conditioning, open up the windows to let in fresh air. If everything is closed, there could be a stale smell and this will put off prospective buyers.”

According to an online article by Canada-based interior design and home-staging firm, Design Decor Staging, the first thing potential buyers feel in a house is the way a house smells.

“It is wonderful if they sense pleasant freshness or light home aroma. Odours are linked to memory and affect our emotions and interpretation of the reality,” it says.

In countries like the United States, smell plays an important role in home-staging.

“Take advantage of the sense of smell to make your home the most memorable,” according to Homes & Land.

A good home-staging technique is to bake fresh cookies or bread to give the house a family home-like feel, it says, while the usage of fresh flowers and leather top the list of indoor fragrances associated with luxury. - The Star

Affordable housing – let it be a reality not fallacy

DURING the major festivals in this country, we see the authorities conduct vigorous enforcement activities on various price-controlled food items. This is to prevent unscrupulous traders from exploiting the situation by increasing prices of what are deemed as essentials. Sometimes they even secretly stock up such items to create artificial shortages. It is outright profiteering.

We often read about wayward traders being taken to court simply for failure to display prices. Whether such measures breach our free market policy may be open for debate. The bottom line is that it does curb profiteering to a certain extent. Having said that, we would now like to refer to the present scenario in the housing arena.

Affordable housing is now the buzzword. There is no denying that the price of suitable housing has reached a crisis level, beyond the affordability of the average wage earners. This is a highly undesirable situation and, if left unchecked, it can lead to adverse and far-reaching problems. We will end up with a whole generation who will be tenants, subjecting themselves to the whims and fancies of landlords, or who have to commit a vast proportion of their household incomes to service house mortgages.

Bear in mind that the Malaysian household income to debt ratio is among the highest in the world and that the bulk of these debt is incurred in the servicing of house mortgages.

Those who are tenants face the uncertainties of landlords either increasing their rentals or even evicting them. The mortgage group faces a delicate and risky situation where they may get into financial trouble if events do not turn out well. These include the raising of interest rates by financial institutions, any downward trend of property prices, drops in their incomes or the cropping up of other emergencies.

Yes, house prices will go up given any period of time due to natural inflationary forces. This is probably beyond the control of any party. But the recent spate of price escalation is certainly not due to natural forces, the cost of building materials or construction costs, much as industry players would like to make us believe. In the case of land cost, it is a chicken and egg situation.

If house prices have been pushed up (either speculatively or naturally), it goes without saying that land owners would expect higher prices for their land. It is also not due to shortfall of supply over demand as National Property Information Centre (Napic) figures show otherwise.

Rather, it is due to unbridled speculative forces.

On the real property gains tax (RPGT) in Budget 2013, it is unfortunate that our Prime Minister has been ill-advised on the true situation. The rakyat can expect to see an increase in speculative property investments which will in turn further drive up the prices.

Typically, if the property is purchased directly from the developer, it takes 2 years (for landed properties) and 3 years (for strata properties) to be completed. During these construction stages, house buyers are not allowed to sell their properties without the consent of the developer and can only sell the properties after they have been completed.

What the revised RPGT means in lay-man terms is that speculators can purchase properties from property developers upon launch and then flip these properties on after 2 years and having to pay only the proposed 10% (i.e. within the 3rd to the 5th year). After the 5th year, all profits are not taxable. With additional attractive financing packages, very often these speculators just need to pay the 10% downpayment and walk away with a lucrative gain at the end of the construction period.

Stronger and more positive governmental intervention is critically required. We are not suggesting that houses should be subjected to price control like other commodities. But we would like the Government to put in measures to discourage speculation. Alter the landscape to make it less encouraging and less worthwhile for speculation to take place.

We have heard housing developers claim credit for having built X-million number of houses and having created immense wealth when the houses appreciate in value. We also see large numbers of speculators who reap immense profits by just buying/booking and flipping over their purchases and reaping enormous profits. While industry players have cited a host of other causes not all are justified. In any event, the escalation of house prices is good for them as it encourages quick sales brought about by an artificial shortage. On the humanitarian side, there is nothing to feel good about.

Speculative profits are not real profits. Speculators are, in effect, taking money from our future generations to enjoy today. Our future generations and under the prevailing circumstances, even the present generation as well will suffer the effects of exorbitant house prices that have resulted in the high household income to debt ratio. This may be legal but it is downright immoral!

The country's economy will be an unbalanced one because with such a large proportion of family income committed to house mortgages, a typical household will be compelled to be stingy on other expenditures. Thus, the other industries will suffer.

Statistics have proved that the present high income to debt ratio is brought about primarily by house mortgages. It looks like the proverbial horses have already bolted and we are still dragging our feet in closing the barn door!

We do not see the logic when the Government is so serious about controlling the prices of essential items such as cooking oil, sugar, chicken and a host of other essential items but yet on the subject of house price, it has allowed the situation to remain laissez faire.

We believe that the issue of affordable houses is even more crucial than some of the price-controlled items because one can always find alternatives or reduce the intake of some of those items. But the alternatives for a roof over one's family are the squatter areas, the shelters under our highway flyovers or the five-foot paths in front of shophouses!

While PR1MA is a good move (barring some of our apprehensions), it is also a typical case of treating the symptoms rather than the cause. In this case, the cause is unbridled speculative activities.

l 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

Penang Real Estate | Penang Property | Penang Properties: The Light Linear For Sale (C18)

If you are looking for a unit here in The Light Linear, don't miss this. Priced to sell. Corner unit, hard to find here. High floor. Brand new.

Penang Real Estate | Penang Property | Penang Properties: The Light Linear For Sale (C18)

Should you need any further information, kindly feel free to contact us.

To contact us, Penang I Property, please click here.

Local property market steady; demand not affected by global factors

KUALA LUMPUR: The property market may be affected by the global economic factors but local demand has not been dampened, according to some property developers.

Low Yat Group sales and marketing executive Sean Saw said there was interest among Malaysians especially the younger adults to purchase property although the economy may be holding some of them back.

“I gather that even though the property sector may be quieter due to external factors, but there are still transactions. Newly launched projects continue to be sold out, surprisingly,” he said after a briefing for exhibitors at the Star Property Fair 2012.

He added that the market for sub-sale may be slower but the overall market was expected to be back in full swing next year.

Saw said the fair would be a great avenue to raise awareness among homebuyers about Low Yat's high-end projects, especially its Tribeca serviced apartments to be launched this quarter.

LBS Bina Group Bhd's managing director Datuk Lim Hock San also concurred noted that despite the economic uncertainty, there was still demand in the local property market especially the affordable homes.

“This can be seen in our recently launched Royal Ivory double-storey double storey cluster link semi-detached development where over 300 units were fully sold in three months,” he said.

LBS which is participating again in the Star Property Fair after a hiatus last year said that it was back with exciting projects.

Senior public relations executive Cleosun Ng said after the first exhibitors' briefing: “It has been an exciting year for us. We have many projects to share with the homebuyers and this fair is the right platform for us.”

She added that the fair would serve as a branding channel for LBS to convey its lifestyle living range of products to the homebuyers.

Bukit Gambang Resort City developer Sentoria Group Bhd would also be exhibiting, promoting its investment development within the Bukit Gambang resort city that include commercial and residential projects.

Sales and marketing senior executive Cony Tan said that the fair would be a great ground for Sentoria to get more exposure and reach new customer as it used to only reach out to existing customers through its buyer-get-buyer scheme.

Bucking the trend: Exhibitors attending the briefing. Some property developers say newly launched projects continue to be sold out.

“All the while we invite existing customers to our events but since launching our villas, we are trying to market our products through different channels,” she said, adding that Sentoria has started participating in roadshows and exhibitions in the second half of the year.

“The customers who walk in to (the Star Property Fair) would be very potential buyers. There are good chances of growing our customer database and getting feedback on our products,” she said of what to expect at the fair.

The Star Property Fair, in its fourth year rolling, would be held from Nov 30 to Dec 2 at Kuala Lumpur Convention Centre. - The Star

It makes sense to go green

Amounts spent on eco-friendly building materials continues to rise

THE spending on green building materials for projects registered for Green Building Index (GBI) certification in Penang for the next two years is expected to hit around RM60mil to RM120mil, as there are 15 commercial and resident projects waiting for GBI certification approval.

Penang Master Builders & Building Materials Dealers Association (PMBBMDA) president Lim Kai Seng said the total construction costs for the 15 projects is approximately RM1bil to RM1.5bil.

“To be eligible for GBI certification, the spending for the green building materials, energy-efficient appliances, and energy-saving designs for a project needs about 6% to 8% (of the project’s cost).

“As the cost of constructing energy-saving design is minimal, the bulk of the spending will be for green building materials.

“Currently there are 10 projects in Penang approved for GBI certification. Of the 10, two have been completed, while the remaining eight will require around RM48mil to RM64mil of green building materials,” Kai Seng said.

On the market: Signature Products Sdn Bhd business development executive Calvin Foo showing its range of green timber products.

Some of the projects in Penang that have been approved for GBI certification include IJM Land’s projects such as The Light Point, The Light Collection, and SP Setia’s Setia Green and Brooks Residence.

The completed projects with GBI certification are Hotel Penaga and The Light Linear.

Developers, spending the required amount of 6% to 8 % of the construction cost to fulfil the GBI requirement for certification, need only pay RM5 per sq ft and RM7 per sq ft as developmental charges for residential and commercial properties respectively.

Developers who do meet GBI requirements have to pay development charges of RM15 per sq ft and RM20 per sq ft for residential and commercial projects respectively.

Some of the popular green building materials and energy-saving products include slabstones made from recycled glass, Forest Steward Council-certified (FSC) timber products, solar panels and solar water heaters.

Kai Seng said there are also many residential and commercial projects in Penang using green building materials that are not applying for GBI certification.

“If these projects are included, the actual spending on green building materials will be even higher.

In demand: Imported green timber products now popularly used in new develpoment projects.

“This year the value of construction projects, from both the private and government sectors, is expected to be around RM4.6bil.

“At least 6% of the RM4.6bil will be spent on green building materials and energy-saving products,” Kai Seng said.

Malaysian Institute of Architects (Penang Chapter) chairman Lawrence Lim said green building practices could reduce a building’s operating costs by as much as 9%, increase building values by 7.5% and realise a 6.6% increase in return on investment.

“So, green buildings don’t just make sound ecological and environmental sense — they make sound economic sense too,” Lawrence added.

Lawrence said since the inception of GBI certification three years ago, some 325 projects or over 26mil sq ft of floor space had been registered for GBI certification throughout Malaysia.

“Out of the 325 projects, 86 received GBI certification while the rest are pending certification.

“Penang is listed third in the nation in terms of the number of projects registered with GBI, after Kuala Lumpur and Selangor and it is just ahead of Putrajaya.

“In Penang, 10 projects have obtained GBI certification, while 15 more are pending certification,” Lawrence said.

Signature Products Sdn Bhd managing director Datuk Finn Choong said that the demand for the company’s FSC timber products is on the rise, as the present generation of home owners become more green conscious.

“Our FSC timber products, sold under the Accoya brand name, from Holland are made of timber sourced from forest owners who adhere strictly to FSC sustainable practices,” he said.

Choong said the company, with a 20-year history in the timber-flooring business, started to import green building materials last year when it saw more residential projects in Penang applying for GBI certification.

“So far this year, we have sold three 40-ft containers worth of Accoya timber products with a net value of RM500,000,” he said.

Going places: G-Solar business development manager Regine Choo Hooi Chin showing the solar panels that the company installs.

The timber products are in demand for the construction of clubhouses and the exteriors of projects to provide insulation from heat.

Next year, Choong said they are expecting to sell at least 10 40-ft containers with a net value of RM2mil.

“The demand is also coming from individual home owners who prefer the use of green building material for their property,” he said.

G-Solar Sdn Bhd business development manager Regine Choo Hooi Chin said the demand for the installation of solar panels in residential houses is gradually on the rise, since the implementation of feed-in tariffs last December.

“So far this year, we have secured orders 50 landed residential projects in the northern region.

“We have installed solar panels for 10 of these projects.

“The cost to install a small solar panel for a terraced property is around RM40,000.

“We expect the spending for solar panels in the northern region to be around RM10mil this year,” Choo said.

Besides solar panels, Choo said there is growing demand for rain-harvesting system in high-rise and landed properties, which could be installed for RM5,000, to collect rain water. - The Star