Penang I Property - Penang Property, House For Sale and Rent Blogspot

Friday, January 4, 2013

Strait Regency Wanted

Those who wish to sell or let his or her Strait Regency in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Gold Coast Resort Condominium Wanted

Those who wish to sell or let his or her Gold Coast Resort Condominium, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Cascadia Wanted

Those who wish to sell or let his or her Cascadia in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Vantage Desiran Tanjung Wanted

Those who wish to sell or let his or her Vantage Desiran Tanjung in Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Taman Desa Relau 2 Wanted

Those who wish to sell or let his or her Taman Desa Relau 2 in Relau, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Income limit eligibility for My First Home up to RM5,000

KUALA LUMPUR: The income limit of individual borrowers for My First Home Scheme (SRP) will be increased from RM3,000 to RM5,000 per month effective January 2013.

This enhancement was one of the SRP’s eligibility criteria slated for improvement under Budget 2013’s announcement last year, Cagamas SRP Bhd said yesterday.

For joint borrowers, it said the income limit had been increased up to RM10,000 per month, subject to the individual borrower’s income not exceeding RM5,000 per month.

“In addition, the requirement for a savings record equivalent to three months installment and minimum employment of six months will be abolish,” Cagamas SRP said.

It said the scheme allowed homebuyers to obtain 100% financing from participating banks, enabling them to own a home without having the need to pay a 10% downpayment.

“Cagamas SRP will guarantee the initial 10% of the loan under the scheme,” it added.

Cagamas was mandated in 2011 to play an active role of helping young, working Malaysians in the private sector to own their first homes under the SRP. — Bernama

Standardised housing loan agreements help consumers

KUALA LUMPUR: The standardised documentation adopted by banks for housing loan agreements with effect from Jan 1 will enable consumers to make more direct comparison of financial products and services offered.

Association of Banks in Malaysia (ABM) executive director Chuah Mei Lin said 13 local members of the association had adopted the standardised template from Jan 1 while five other foreign banks were expected to roll out the standardised template by the first quarter.

The 13 council banks of the ABM have also adopted a standardised template for the description of key terms and conditions in respect of housing loans or home financing agreements for individuals involving RM500,000 and below.

The standardisation initiative is a collaborative effort between Bank Negara, Special Task Force to Facilitate Business, ABM and commercial banks to enhance the efficiency of the banking industry.

“With standardisation, commercial banks aim to present key terms in a manner which is consistent, clear and easy to understand,” Chuah said during a media briefing yesterday.

She said the key aspects of the standardised template encompassed principal sum/loan amount, description of property, payment and calculation of interest, interest and lock-in-period, repayment and prepayment, conditions precedent, security documents and events and consequences of default.

“For the purpose of determining the principal sum of RM500,000 and the applicability of the standardised template, only the loan amount to be applied towards the purchase price of the residential property is to be taken into account,” she said.

The loan or financing, she said, could be extended to cover renovation costs, mortage reducing term assurance or other such insurance premium as might be permitted by the banking institution and legal fees incurred in connection with the purchase of the property.

“Based on a survey conducted last year on ABM's 13 council banks, 80% of the banks' straight-forward housing/mortgage portfolio are RM500,000 and below,” she said.

On the approximate number of days required to process a straight-forward housing loan application of an individual with a good track record, she said that depending on the bank, a good turn-around time barring any unavoidable delays would be 55 days from the day the application was made to disbursement. - Bernama

Thursday, January 3, 2013

Gurney Paragon Wanted

Those who wish to sell or let his or her Gurney Paragon in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Gurney Beach Wanted

Those who wish to sell or let his or her Gurney Beach in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sri Pangkor Wanted

Those who wish to sell or let his or her Sri Pangkor in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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The Regency Wanted

Those who wish to sell or let his or her The Regency in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Silverton Wanted

Those who wish to sell or let his or her Silverton in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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11 Gurney Drive Wanted

Those who wish to sell or let his or her 11 Gurney Drive in Gurney, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Penang Real Estate | Penang Property | Penang Properties: Desa Bistari (Just Sold)

We have ready buyers looking for Desa Bistari, Pantai Jerjak, Penang. If you wish to sell yours, please do not hesitate to contact us for further discussion. There is no obligation. Thanks

Penang Real Estate | Penang Property | Penang Properties: Desa Bistari (Just Sold)

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White Lily Wanted

Those who wish to sell or let his or her White Lily in Minden Height, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Harmony View Wanted

Those who wish to sell or let his or her Harmony View, Off Perak Road, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Taman Kheng Tian Wanted

Those who wish to sell or let his or her Taman Kheng Tian, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Pearl View Wanted

Those who wish to sell or let his or her Pearl View in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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The Pulse Wanted

Those who wish to sell or let his or her The Pulse in Gelugor, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Wednesday, January 2, 2013

Slim Villa Wanted

Those who wish to sell or let his or her Slim Villa, Off Perak Road, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Elite Home Wanted

Those who wish to sell or let his or her Elite Home in Jelutong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Penhill Perdana Wanted

Those who wish to sell or let his or her Penhill Perdana Condo in Air Itam, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Air Itam Semi Detached Wanted

Those who wish to sell or let his or her Semi Detached in Air Itam, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Scotland Villa Wanted

Those who wish to sell or let his or her Scotland Villa in Batu Gantung, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Island Park Terrace Wanted

Those who wish to sell or let his or her Island Park Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Island Glades Terrace Wanted

Those who wish to sell or let his or her Island Glades Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Mayfair Condo Wanted

Those who wish to sell or let his or her Mayfair Condo along Sultan Ahmad Shah Road, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Baystar Condo Wanted

Those who wish to sell or let his or her Baystar Condo in Seri Nibong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Taman Sri Nibong Terrace Wanted

Those who wish to sell or let his or her Taman Sri Nibong Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Jelutong Terrace Wanted

Those who wish to sell or let his or her Jelutong Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Batu Lanchang Terrace Wanted

Those who wish to sell or let his or her Batu Lanchang Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Eastern Garden Terrace Wanted

Those who wish to sell or let his or her Eastern Garden Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Green Garden Terrace Wanted

Those who wish to sell or let his or her Green Garden Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Taman Hutching Terrace Wanted

Those who wish to sell or let his or her Taman Hutching Terrace, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Vista Bukit Gambier Wanted

Those who wish to sell or let his or her Vista Bukit Gambier in Bukit Gambier, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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The Peak Wanted

Those who wish to sell or let his or her The Peak in Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Tanjung Park Wanted

Those who wish to sell or let his or her Tanjung Park Condo in Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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With promise of real estate boon, property investor clubs boom

GEORGE TOWN, Jan 2 ― Property investor clubs charging hundreds of ringgit in monthly membership are sprouting here as those on the hunt for higher yields are putting their money in Malaysia’s real estate market and spurring growth amid bleak economic reports, industry players say.

Property flipping ― a term coined to describe property bought at low prices and sold at a high profit ― appears to be the latest trend among investors, including foreigners, that is helping to lift blocks of buildings off the hands of developers and raise real estate prices.

Property expert Ho Chin Soon said such clubs are a new phenomenon due to rising interest in property investment amid uncertainty in the stock market.

He noted that previously there were only one or two of such clubs, but now there are five to six investors clubs in the country with a growing membership of between 400 and 600 members each.

“This could be due to investors’ perception that property is a legitimate and more stable investment to add to their portfolio,” the director of property information company Ho Chin Soon Research told The Malaysian Insider in a recent interview.

He agreed that, to a certain extent, these clubs could be one of many factors that is fuelling the property industry in the country.

The clubs work by buying properties en bloc from developers ahead of launches and then these offering to members at a discounted rate.

Potential property investors will fork out hundreds of ringgit monthly in membership fee just to get inside tips into the latest property projects pre-launch and opportunities to buy such properties with a bulk discount, said International Real Estate Federation (FIABCI) Malaysia committee member Michael Geh.

“These investors clubs are not only Malaysian-based ones as some are from Singapore,” he told The Malaysian Insider.

He warned that such clubs could create an artificial level of pricing for properties as genuine buyers would have little chance to buy units at the launch price and would have to purchase it from investors likely at an inflated price.

Geh and Ho, however, said the bulk-buying of properties by these investors would not create a property bubble that could burst in an economic downturn.

The duo said they felt the demand from genuine home buyers would be able to keep property prices afloat.

Jeffrey Lam, a partner in Smart Investors Club that boasts over a thousand members including from abroad, said the real estate market here is unlike those in Singapore, Hong Kong or China and still has room to expand with no danger of creating a bubble.

Lam said Malaysia’s property market growth was still in the single-digits and added that the Japanese, Chinese and Singaporeans were looking for opportunities to invest here.

“The demand for properties in Malaysia by home buyers, not only investors, is still strong and that is why more investors are getting into this,” he said.

He said an investor club member could stand to make a profit of a minimum RM25,000 up to RM100,000 for each investment into residential properties and up to millions for commercial properties.

“This is why more investors are going into property investment as the profit is good especially if they invest in the right type of properties,” he said.

Malaysia is seen as a budding real estate player, offering a stable market with good opportunities for opportunistic returns.

The national capital Kuala Lumpur was ranked fifth out of 22 cities with the best prospects in investment and development in the Asia-Pacific, according to the Emerging Trends In Real Estate Asia Pacific 2013 report by the US-based Urban Land Institute and PricewaterhouseCoopers (ULI-PwC), up 17th from last year.

KL gained favour for being “relatively stable but with good potential for opportunistic returns,” the report said.

The ULI-PwC report added: “The long-term prospects for the commercial property market are deemed by many to be strong, due to the success of the government’s Economic Transformation Programme in drawing foreign investment.”

But FIABCI’s Geh said not everyone that joins these clubs are guaranteed high returns. He added that property investment also comes with risks.

“These clubs will hold talks and seminars on property investments and then offer its members ‘special deals’ to buy into pre-launch projects but there are no guarantees that they could sell these investments later for a profit,” he said.

He advised those new to property investments to be cautious and not to put all their savings into the investment.

“Don’t forget, it can go either way just like any investment. If you put RM3 million into a property, you could stand to make a profit out of it later or you may just lose it all,” he said. - The Malaysian Insider

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Friday, January 4, 2013

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Wednesday, January 2, 2013

Tuesday, January 1, 2013