What’s pushing up house prices? Housing supply issue? No….

When property prices go up, the main reason is usually due to supply issue. There are not enough, thus prices go up. How true is this? Of course, there are also the issue of too much demand on certain areas while there are insufficient demand on other secondary areas. I wrote an earlier article about this and call it
Location Supply Scarcity.
 So, I also disagree that it’s due to just supply vs demand. It’s more like targeted demand vs supply. By the way, supply is also not the issue for sudden reduction in property prices. Well, unless of course supply in the whole country is already at a crazy level. You see, if there is an oversupply in Damansara Damai, it will affect Damansara Damai prices tremendously since there are way too many units. It may also affect areas which are within 5km radius away but this oversupply has nothing to do with Bangsar or Cheras prices….

Another scenario, if the oversupply is for over RM600,000 properties, it will definitely reduce the prices for units within this price range. This will not hit the affordable apartments which are already priced at RM250,000. There’s no way that a RM600,000 property dropping to RM400,000 and pushing a RM250,000 to  drop to RM150,000……. If it does, I think the richest people will be getting much more richer because they would own may more units during this period. This is the reason why it’s not usually the overall supply versus demand that is affecting the prices. This is just an opinion of a working professional in the real estate industry. So, how about if we listen to someone much more prominent, Professor Philips from the Australian National University who analysed 15 years of Census data and building approvals. He has found out that Australia has OVERSUPPLY of 164,000 units.
Here’s that article in news.com.au

He shared, “I don’t think anyone fully understands what the drivers
 (of housing prices)

are. He explained, “They don’t appear to be strongly correlated to housing supply. I think investment will continue to push up prices, taxation arrangements are an issue and low interest rates are also increasing prices.” (In one sentence, he has also just confirmed that supply versus demand is not the main reasons for property prices. He said it’s because people sees property as an investment that is pushing up prices.
 (Think about it. If you buy a property and the prices stay the same throughout the next 30 years, would you buy a property?)
 Another reason is also because of taxation advantages.
(Rental income exemptions are happening in Malaysia too.)
. Last but not least would be low interest rates.
(When mortgage repayments are low, people can afford to take a higher priced property. It does not mean that the property is a bigger and better one. It can just be because they like the unit and thought an extra RM30,000 is not that much because over 30 years, it is really pretty small indeed. Yet, as soon as they agree to this extra RM30,000 the house prices of ALL other similar homes have also risen because it is now a new benchmark..)
Please do read his full comments and the article here.

Now perhaps we are clearer about demand vs supply and property prices? They are not really within the same equation. 🙂   More demand may mean higher prices but we should also note where the demand really is.  More supply may mean lower prices but we should also note where the supplies are because if the supply is at the wrong places, the property prices at those right places will STILL be going up. Unless and until people starts to be savvier about choices, plenty more of them really.
The MRT and properties nearby?
 Remember though, Malaysians are just as savvy as Hong Kong people or even Londoners as well as people in Sydney or Melbourne. That’s why areas WITHIN the city or selective areas are already very expensive today. Haha. Even in Hong Kong, a HK$4 million may still get you a decent second-hand apartment in NEW TERRITORY (which is still Hong Kong)
versus a Tesla parking sized flat

in some places within Hong Kong. Would prices become too unaffordable then?

Here’s my thought.

Happy deciding.

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written on 11 Dec 2017

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What’s reopening?  The journey towards normalization while waiting for vaccine.

Schools are reopening in Vietnam, New Zealand and Germany.
Article in VOX.com here.
 German students test themselves for COVID-19 every 4 days.  Tests come back within the same day and the student could then proceed to go to school with a green sticker; there is no need to wear a mask.

In Vietnam, temperature checks are mandatory and only if the students have no fever that they are allowed to attend class. Masks must also be worn at all time when in school. One 11 year old student said this, “I feel safe when I wear a mask and have my temperature checked, I am not afraid of being infected with the virus.”

New Zealand’s schools resumed classes on May 14. However, the Education Ministry provides the flexibility to students and parents to decide on a transitional arrangement with the school if they think the date is still too early.  Note though that there is no clear guideline as to how long the transition arrangement could be. Full details, read here:
Article in VOX.com here.

Article in cnn.com
  The Disney theme park will start a phased reopening on 11 July 2020 for its Magic Kingdom and Animal Kongdom parks and 15th July for EPCOT and Hollywood Studios.  (This is for the U.S. yeah.) . However, ALL employees and guests will be required to wear face coverings and undergo temperature screenings prior to entry into the parks. More details here in the
Article in cnn.com

In Singapore, the Circuit Breaker will end on 1st June but Singaporeans are already able to get a haircut at the barber as well as buy their favourite bread from bakeries since mid May 2020. Of course, there are some conditions.  Barbers can only operate by appointment and everyone must wear face masks prior to entry.  Small groups of students are allowed back school on 19th May.
More details in the article in abcnew.go.com

In Malaysia, we are now in our Conditional Movement Control Order (CMCO) and malls are now accessible.  Someone said that these reopenings will not help the retail tenants because the number of customers are likely to be small. I replied that if we expect to have a situation where we reopen and the situation goes back to normal, then that will happen only after vaccine was found, manufactured and administered.

We have been living with the influenza which is responsible for
290,000 to over half a million deaths around the world every year. Please refer to the details here.
 This year, with all the lockdowns caused by COVID-19, the number of influenza cases have dropped tremendously. What does this tell us? Living our life a little differently will help both the economy and the dangers of COVID-19 infections. It’s really not possible to just stay at home and do nothing. Soon, there may be nothing left to save if the current COVID-19 slowdown moved into a full fledged financial crisis instead.

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What’s the Base Rate for the loans I am about to apply?

If you are about to apply for a home loan, I think this information is useful for you. Take a look at the banks with a lower indicative effective lending rate and that monthly instalment may just be lower versus those banks with a higher indicative effective lending rate. Note, I say ‘may’ because the banks will still look at the loan amount, our credit ratings etc before they issue the approval for our loan applications yeah.

Plus, if you happened to be a Preferred or Premier customer to the bank, then of course the rates they offer will be lower than what they usually offer. Some banks are also ‘hungrier’ for loans than others and when this is the situation, the rates they offer will be more attractive than other banks. By the way, always note that with lower home loan rates, it will also mean a lower Fixed Deposit rates too. Here’s that earlier article:
Maybe even lower home loan and fixed deposit rates this year

Source: bnm.gov.my

Source: bnm.gov.my

Source: bnm.gov.my

If you need the softcopy instead,
Do proceed to download the full file from BNM here yeah.
Would you like to know why sometimes the home loan is rejected?
These are the reasons why housing loans were rejected
  If we look at the full list above, it is clear that Malaysian consumers have a lot of choices when it comes to applying for loans. Wishing you success in your loan application yeah. Cheers.

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What’s UP and what’s DOWN? My sharing, from readings.

As I have shared before, I do not usually speak in property events unless it’s an invitation from good friends. On 5th August 2017 (Saturday), I will be sharing about the topic of “What’s UP and what’s DOWN in the property market.” If you happen to be a reader of kopiandproperty.com and would like to see how I really look in real life, do drop by yeah. We can enjoy a cup of coffee while we learn from one another about our property views. My view is everyone learns because many would have better knowledge about certain area for example.

The event details as follows:

Date: 4th August 2017

Event Time: 12pm – 3pm (My sharing is just 1 hour, after the opening)

Venue: Urbano Sales Gallery, Glenmarie. (It’s inside Utropolis Marketplace)

The talk will NOT be about why you should buy a certain project. Seriously, the buyers today are going to so many projects that they definitely have an idea what they really like. Buying one’s first property versus buying for investments may be different. Buying to stay nearby your parents or nearby our office would also be different. In fact while I feel high-rise is a good buy, there are many who has much higher purchasing power who would correct me by saying that it’s not possible to create more land. Well, quite real unless we are reclaiming more of the sea. However, if you would like an hour of sharing about numbers, about some views by prominent property experts or even my personal opinions, do drop by. Take care.

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What’s your MUST-HAVE item? Is it the same as FEEL-GOOD item? Oops.

What’s a must-have item in your opinion. Could we distinguish between must-have and feel-good items?

Wow… you bought that latest smartphone model? (You know the brand…) I heard so many people were queuing for it since yesterday night!  You are so lucky to be one of the first few to get it. You feel so good inside. Suddenly, you become everyone’s main happiness attention.

Photo by Karolina Grabowska on
Pexels.com

Hey, is that the limited edition handbag which is now the rage? The prices have risen 50 times higher in some online shopping space!  So many wanted it but so few people has it. You feel do good inside. Maybe in the whole office tower, only you have the limited edition handbag.

Whoa, you got the highest spec. It means 8 surround sound speakers and the branded leather seats instead of the usual 4 and the standard leather seats. You were driving your colleagues out for lunch with your new car. You feel so proud. Your colleagues now see you as someone ‘higher-up’ than the rest with older or cheaper cars.

By the way, the latest smartphone brand will continue selling for at least the next 9 months until they announce another latest new model about to be launched. As for the ‘wow factor’ it will soon disappear when more people has the same model and it will be totally forgotten as soon as there are announcements for an upcoming new model. The cycle has not changed and will always continue.

Must-have item, a handbag

The limited edition handbag, it will not be the first time they (the brand) have limited edition and it will not be the last time too. How do we know this limited edition will be the best and most popular limited edition for the next 50 years? By the way, if we have just ONE handbag and we kept using the same one, the wow factor is also gone yeah…

Must-have Item, a car

A car with the highest spec is great but it usually comes with premium. Many times, have we ever wondered if we were buying it because we really need it? Without it, we will be unsafe (no air-bags), without it our enjoyment of songs will disappear totally (4 speakers vs 8 speakers) or the quietest tires so that noise from the road is reduced an additional 5%? If there are more noises, it will affect me so much that I will not want to drive a car?

By the way, if we have more than enough money in the bank and the interest per month alone is RM10k, then we could do a lot of extra stuffs. If we are already earning RM30k per month and that car instalment is just RM3k per month and we love the car, then go for it! If we already own many properties and is now looking for that upgrade into something which everyone would know that we have arrived (as a successful person, I mean rich) then by all means go ahead and buy it.

However, if all these MUST-HAVE are just FEEL-GOOD and we are not ready to pay so much for it or we will incur debts which will be tough to pay back, then be objective enough to just let it go. The time will come, just not now. Living your life to the fullest has very little to do with your new smartphone, new handbag or new car actually. Maybe joining a Toastmasters club and winning contests and coaching someone to speak better and leading a team is a better gauge instead?

Okay, okay, I admit, I have 30 pairs of shoes BUT my most expensive pair is just a Geox yeah. I have worked for 21 years, every year just buy an average of 1.5 pairs of shoes, not excessive, right?  Happy understanding.  Do read this article to see how much money is spent on must-have items…
Article in nst.com.my

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What’s your net worth aim?

I heard someone said that Singapore has more millionaires per population than anywhere in the world. Well, according to Forbes, it’s about one every 36. Yes, quite an amazing number because if you are a Singaporean and you are graduating with 36 other students, one is already a millionaire. Note, the term millionaire here refers to net worth. In other words, total wealth (assets and money) minus total liabilities. So, if your home is worth RM1,000,000 but your total debts are RM950,000, it meant that your net worth is only RM50,000. Very low when compared to even those who are debt free and save a lot of their money into Fixed Deposit (FD).

It’s important for us to always think about net worth and not just how much money we have in bank. It gives a more transparent perspective if you can really afford that new Segment D car or NOT. 🙂  Well, if we have a good job paying an above average salary, should that not be more important? Well, that is a pre-requisite because you can only do more when you have more. One of my favourite author, Azizi Ali said that if one is earning just RM2,500 it’s time to work harder, somehow get a much higher pay so that one can then build upon this. Otherwise, it’s an impossible task to retire rich. I assume rich would give us more happiness than poor.

So, how do we increase our net worth? According to a famous author Yap Ming Hui, we can focus on four things. Let me explain briefly below. To read more, do buy his books. I personally have one of his books too.

Increase your savings – Seems simple but it is not. Can you convince yourself to buy needs and not wants? Haha. If this first item is not managed well, then all the rest would not matter much. Without item 1, you cannot build item 2 and so on.

Increase your Return on Investment (ROI)- In this case, a Unit Trust giving a return of about 7% would definitely be preferred to a Fixed Deposit providing just 3.5%. One can even focus on stocks which can give far higher ROI but the trade off is, the higher the ROI the riskier it is. Decide based on your risk appetite.

Decrease your exposure to risk – Briefly, this meant to also protect what you have. A medical card payment of RM2,400 per year is really nothing compared to the coverage it would provide if we suddenly needed to undergo an operation which costs RM36,000!  Try not to engage into any huge return but huge risk “investments” such as pyramid schemes.

Decrease your costs – If your mortgage was based on a higher rate previously, take time to refinance it. That lower rate is likely to save you lots of money.

When it comes to my future and my family’s future, I always take a pro-active approach. No point in recognising this only at a later stage in our life where we needed to either take a higher risk as we wanted a faster return due to time limitation and maybe lose it all. The earlier we take note of this, the more avenues that we have to progress towards it. We can also take a lower risk method too as the timeline is longer. Happy thinking net worth.

written on 28 Sept 2015

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When big brands fail, jobs will be lost. Up to 25,000 people will need new jobs

When big brands fail, the often cited reason is due to online competition. Sometimes, do we really believe this is the reason? I mean if the brand has huge support, it is so easy to just set up an online retail site right? Perhaps there are other reasons but it’s okay. Let’s just believe that online competition is really the only reason for the failure of many of these global brands which has been around for a very, very long time. Today we are looking at Debenhams and Topshop.

I frequented these two brands when I was studying in the UK way back in 1998. The clothes at Debenhams were not to my taste but I like Topshop. In fact, I would usually browse through their ‘clearance’ corner where leftover odd sizes would get heavy discounts. Both brands are represented in Malaysia and both brands have been around for a very long time in Britain. Latest news is that they (both brands) are both set to close and the reason mentioned was due to fierce online competition. This may mean up to 25,000 people would need to find new jobs.

Photo by Andrea Piacquadio on
Pexels.com

Article in nst.com.my
   Debenhams said that it was set to close unless it was rescued and this meant that around 12,000 jobs will be lost. The reasons for this potential closure include coronavirus fallout and fierce online competition. Topshop-owner Arcadia which had not been doing well even before pandemic has fallen into administration and this puts at risk a total of 13,000 jobs. For even more comprehensive reporting, do refer to this article yeah.
Article in nst.com.my

It’s not the loss, it’s whether new jobs could be found

I think the most important thing should be whether all these people who lost their jobs could find new ones. When it comes to this question, it does not depend on just the company which closed down, it depends on whether these people have the skills to take up another job in another company. If we look at the forecast for the UK economy in 2021, it is expected to grow by 5.7%.
Click here for that forecast.
Let’s wish everyone all the very best and that all of them would secure employment within 2021.

I know, it’s not that rosy in Malaysia too when it concerns jobs. This is why I really do wish that the vaccines would arrive soonest possible and this would help to turn the sentiment around; from negative to a positive one. In the mean time, do help businesses by buying from as many of the local SMEs as possible. That nearby nasi lemak stall… the vendor selling vegetables. They really do need our help yeah. Thank you.

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When should we think about buying a property? Home or investment.

When should we think about buying a property? I would personally say it’s as soon as we have the funds to do so. Perhaps it is when we have accumulated a few years of working experience, thinking of having a lovely family and even have a long term view of property as a form of investment if not only to hedge against the inflation. Remember, our savings may give us interest returns but having a property meant that the capital appreciation is based on the property price itself. Perhaps, in terms of age, 30 would be a good year to think about owning a property. Below is an article written exclusively by PropertyGuru for readers of kopiandproperty.com
 If you would like to know the home loans from 15 different banks, do click here.

Enjoy reading.

After attaining the age of 30, you are now an adult, and in the event, maybe you are thinking to own a property somewhere, a
nice Singapore property
 of HDB or condominium, or a studio unit in the heart of Kuala Lumpur, or perhaps a house in Jakarta. Right here are reasons why at the age of 30 is the right one to become a home owner.

Photo by Joanna Bogacz on
Pexels.com

1. You have gone through failures and disappointments
At times, going through failures and disappointments is an important part of the success of a person. If you have gone through a lot of hardships in life, these might, in fact, be the trials that you need to pass and learn from to be able to reach your destination of success.

2. You Formulate a step by step
This is a highly effective way to achieve what you need in your life. Remember that there is no need for you to rush things because sometimes success is for those people who are patient and persistent. Take one step at a time, and you will see some progress on all of the efforts that you have made.

3. You have focus
The focus is the main priority to own a decent property for yourself. If you focus enough, you will start to notice that all of the efforts you’ve made is getting you near the peak. No matter how difficult or how hard things are that you may encounter along the way, if you are focused on the things that you want to achieve, then success will come knocking on your door in no time.

4. You are happy
No matter how hard things are in your life, they will not let your stress out. You have the choice to be happy, so you give yourself more importance on being positive and think happy thoughts.

5. Your One Step Forward.
This is the important exception to that. Every day, you make sure you do one thing that forwards you. It can be anything that materially helps you up. To feel like you have properly seized a day, you need to be able to point to one concrete thing you have done that makes you better.

6. You do control your time.
This is a big one. Your phone and email go to your assistant, Hunter. During the day, she forwards the emails that you need, forwards the customer service issues, handles what she can handle, and erases the rest. Once a day, you go over the emails that she forwards and deal with them all at once. That saves hours every day, and you control when you deal with it.

7. You feed your head.

What you put into your mind is what will come back out of your mind. If you feed it cop shows, sensationalist news, and gossip, then that’s what it’s going to think about. If you feed your mind good stuff, then that’s what it’s going to have to work with when you want to use it.You got a fairly large library of books that contain “good stuff”.

8. You outsource everything.

The money comes from ideas. Creating a physical manifestation of an idea- but nothing happens without the idea. So, you outsource everything that someone else can do, and keep for yourself those things that only you can do.

The major explanations
why people make bad house purchases
 is insufficient to study. Spend time in weighing your options begin with different options and gradually narrow them lower. Usually, you just need the web–this is whenever you will find the particulars of goods like photographs regarding the neighborhood, news, neat places to see, nearby crime rate, and so on. Nowadays, home-purchasers depend on the net sources when they are searching for property pegs, real estate agents, and loan companies. Going to the location and talking with people living in the region is going to do miracles also, as they’re those that know by pointing out goings-on within the region.

The first point everybody is concerned with in home ownership is mortgage interest. If you don’t have a low mortgage interest rate, you will most likely fail. And the secret to mortgage interest is the mortgage interest deduction.

This offers you a background to start. After that is mortgage interest rates and most people are amazed that anyone can overlook this item because it is required prevent failure. At last, you need low mortgage term, and as soon as you put all three items into action, you have a healthier appreciation for mortgage interest issues.

Secondly, you are required to
home energy efficiency
. The most significant tip to remember about home energy efficiency is maintaining your HVAC system. From this, you can understand why home energy efficiency is so essential and then you must also consider turning off lights when no one is in the room.

Frequent utilization of this principle will provide your desired outcome. The remaining principle to accomplishing home energy efficiency is properly insulating your attic, and as you get a firm grip on these three principles, you will feel a lot better about home energy efficiency.

The last point everybody is concerned with is home decor. You need to consider home decor to be most successful. And the real secret to home decor is to paint. I do not believe anyone will question this statement.

You can understand why some people have reservations and additional questions about Mortgage interest, home energy efficiency, and home decor. Once you examine that information, it is simple to see why home ownership can become a major problem.

Being one of the fortunate people who can achieve the goal of home ownership, there are a few things you should know. First, your home is most likely the largest investment you will ever make. Treat it well. Choose wisely and make improvements where you can, especially things that will add value to your home.

Kitchens and bathrooms are consistently the areas that will provide the greatest return when it comes time to sell. Regardless of your budget, there are many things you can do to improve your home. At the top of the list, and the most expensive would be completely overhauling your kitchens and baths, including replacing cabinets, countertops, and flooring, but you don’t have to go to this extreme to improve your home.

This is the second thing you should know –
improving your home doesn’t have to cost a lot
.
 There are many simple things you can do to improve your home. Keeping it clean is the easiest and least expensive, and for some, this is enough. For people who want to do a little more, you can freshen up the paint in one room at a time, choose a neutral color that compliments the other areas of your home. Avoid bold, bright colors; you can add these with furniture and accessories.

Another simple way to improve your home would be to replace outdated plumbing fixtures. Put in a new faucet in your kitchen sink, add a massaging shower head in your bathroom. These improvements do not cost much but give the appearance of a home that is truly cared for. Another area that is often overlooked is the outside of your home.

Curb appeal is becoming more and more important, and this is a simple area to improve. Power wash your sidewalks and porch to give them a fresh look with very little cost. Replace the lights on the front of your home to give it a bright and inviting look. Replace those old, worn house numbers. Get a new mailbox. Plant some flowers along the walk to your front door. All of these things are very affordable, but they do take a little time, but very little know-how.

Benefit from free programs available at your local hardware stores, most of which offer workshops for do-it-yourselfers that can show you how to install tile and paint faux finishes, if you want to take your home to the next level. You could upgrade to a tile floor with this newly learned skill, or even put in a mosaic tile shower. It’s up to you and the amount of time you want to invest in your investment.

Visit the local home show when it comes to town, you don’t have to buy a thing, just use this as a chance to check out new ideas and apply these to your home with little or no cost. Just because something looks expense, it doesn’t have to be. Often these expensive looks can be recreated for a fraction of the cost by working with similar items from discount vendors.

Remember, at the end of the day; this should be the one place you want to come to, to relax and unwind in. Investing a little time to make it the best possible home it can be should be well worth it to you. After all, you earned it, so you should enjoy it too.

Home purchasing is a process that’s as thrilling simply because it is difficult, and it’ll certainly be a rewarding experience to figure out a property are a house. Don’t merely leave the task for the realtor–keeping a watch overall buying process will be the best for almost any future homeowner, so make certain you are always aware of what is taking place when you progress ahead.

This article comes from Singapore’s leading property site,
PropertyGuru.com.sg
 Do visit the site often to research what to buy, where to buy and even read latest property news. Cheers.

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When demand increases, rent increases too. Sometimes, we think too much. We look at the property price, seems expensive. Then again, we got attracted because the property developer was giving cashback. The amount was also significant.

Enough to buy many things we had wanted to buy but did not have the money to do so. So, buying the property technically meant one gets a property and also money to buy things one wanted.

Isn’t it a good deal? Actually, I do not know for sure because it really depends on the property itself but I know that using rental is a better gauge.

How do you calculate rental yield? There are many ways but the easiest general guide is whether the rental amount can cover the repayment amount. Note though that on many occasions, repayment higher than rental does not mean it’s not worth buying yeah.

Use the rental to gauge if the property price is indeed way to expensive and that it made sense only after deducting the cashback. If that is the case, then there is no different with buying a cheaper property instead, just that for this cheaper property you are not getting any cashback from the developer which was actually your money anyway.

Now’s let’s look at what happens when demand moves up and supply cannot suddenly follow

Article in nst.com.my
 Image belowshows that London was the only region which did not show any rental value increase. London rental values for private homes fell in June as demand for property moved outside cities. Nationwide, the cost of letting a home rose 1.2 per cent from a year ago, a rate unchanged since April.

Please do read the full article with a lot more details on how demand was shifting to further away from city centre as workers could work from home instead.
Article in nst.com.my

Moving away from city centre due to work from home is not a permanent reason

I am very sure I am only one of the few who kept telling everyone that there’s no such thing as working from home forever. Here are some recent news:
Some signs why office demand new norm is back to norm
. So, if I am right, the the rental value dip in London should be temporary until businesses restart their engines strongly.

I am serious yeah.  Communication is always super important and that cannot be achieved by just zoom, zoom and zoom.  Your customer may be lost if you refuse to meet them once the pandemic is over and they receive a visit from your competitor who gave them a good handshake and have a cup of coffee after their discussion.

It’s not just that yeah, are you going to meet your customers at your home? Or you think it should be at their office? If it is at their office, then they do need an office… right? If the deal is a few million ringgit, you want to sign it at your living hall? Or the lobby of your apartment, where the guard is seated? If the answer is yes, then great. Please proceed. I am very sure many customers are okay to meet you at your home and sign deals at your home…

What about meeting fellow workers? At their home or at your home? Or at the boss’ home? Are there enough car parking space? So, is work still work or is it now leisure. If you let people use your home, do you charge back the electricity to the company? If no, then should you just switch on only the fan but no the air-conditioner and everyone sweating in your living hall as you present the quarterly report? I wonder if you allow them to take a shower after that.

Yea, just an imagination I am sure because work from home can also work from cafe… right?  Haha.

Take care and stay safe.

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When density is just a number, in future.

It was my 4th or 5th trip to Hong Kong. Only this time, it’s free since I was there for a business trip. I love Hong Kong more than other city states when it comes to food. (Yeah, compared to the other two) Let’s not debate, it’s just a personal taste bud which is also shared by my wife and a few other friends. I arrived late in the evening and went to have the roast goose which is a famous dish in Hong Kong. It does not disappoint! Succulent. The restaurant is in Wan Chai called ‘Keung Kee.’ Cheap enough lah, not those too famous and too expensive ones. Anyway, this is not a food blog, so let’s continue with property. Look at the image. This is the view from my office in Wan Chai. Yeah, it’s super compact I would say. Buildings are extremely close to one another and when I was walking from my hotel to my office, I would say it feels cramped in comparison to Kuala Lumpur. However, I think density is just a number in Hong Kong. The reason is simple, even when we look at the seating arrangements in their typical restaurants, everyone sits very near to everyone else and all of them think it’s okay! Try doing the same seating arrangements in Kuala Lumpur and I think people would stop coming unless there’s no other choices in the neighbourhood.

Would Kuala Lumpur reach Hong Kong’s type of density? Well, Greater Kuala Lumpur would not reach this kind of density so fast BUT then again, there are still LOTS of land in Hong Kong. The further it is away from the island, the cheaper it gets. For example New Territories? Image shows some home options from a property site called
hongkonghomes.com
  The current exchange rate between RM to HK$? Its RM1 to HK1.75 (as at 22 March 2017) As per
payscale.com
, a median income for an assistant marketing manager would be HK$305,047 per annum (HKD25,420 per month). Okay, all these homes listed in the image would be out of reach of this group of professionals. Perhaps it would be more affordable when they reach manager or senior manager level. When we look at the properties WITHIN the island itself or perhaps the CBD area, the prices become totally unaffordable. When we try to search for cheaper areas, for example Tsim Sha Tsui in Kowloon, it would show typically smaller sizes and the prices double if not more than those in the further away from the island areas.

Is high density really that bad? I mean if it’s already the norm, it would be totally normal. Look at the image of a basketball court built into the only piece of existing land surrounded by buildings in Wan Chai, Hong Kong. Hey, it’s still a basketball court and it’s still fully usable. Do we really need lots of space between the court and the buildings surrounding it? In places with more available empty lands, answer is yes. In Hong Kong, as long as it functions, let’s do it. We can see that one day when we reach this stage of development, density would just be a number. The kids from that generation would not know that they need more space and may even ask why there are so much unused space in some far away village. It’s not efficiently utilised! Haha. This is also the reason why connectivity between further areas into the city where work is would be vital. Without this connectivity, the prices would go up even faster as demand continue to rise faster than people could accept the supply, which is further away. This is why I am all for more connectivity and all for newer integrated developments further away from the city centre. Let’s increase ‘useful’ supply of homes. I have just stayed at my best friend’s HDB flat in Choa Chu Kang. There are blocks after blocks of HDB flats. Yet, I do not think majority of Singaporeans would feel cramped. In fact I saw a sepak takraw court and even external gym to be shared by everyone. Well, the days will come. Perhaps in future, we may become the Hong Kong or Singapore of today. Happy following.

written on 21 march 2017

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When everyone is back to work, economy moves again.

Are you still at home?  Working from home or still nothing to do? Hopefully it’s the former. COVID-19 has wrecked havoc our plans for 2020. Many things I wish to do is now pushed back as well. However, I feel blessed that all may loved ones are safe and we could continue to keep everyone in touch via zoom. So, what’s happening to the economy? How do we balance between COVID-19 and the economy?

The balance we are trying to achieve today is HOW to continue moving all businesses back to normal while at the same time trying to keep the COVID-19 infections under control. From my writings, there is no doubt that I favour a continuous move towards normalisation. Truth is, without the economy moving again, soon we will have another crisis which is as hard to solve; economic crisis. So, what should happen in 2021 once all employees could get back to work? Even as organisations continue to race towards finding that COVID-19 vaccine?

Article in theedgemarkets.com
  Finance Minister Tengku Zafrul said that the strategy which the government is using for the economic recovery is the 6R approach – Resolve, Resilience, Restart, Recovery, Revitalise and Reform. Resolve is where the government’s resolve to curb the deadly virus by imposing the Movement Control Order (MCO) effective March 18.

Resilience is the RM250 billion Prihatin Rakyat Economic Stimulus Package unveiled on March 27 as well as the additional RM10 billion announced on April 6.  Restart is the move to reopen and recharge the economy in stages.

Recovery is the current stage we are in. He said, “We are currently formulating a short-term economic recovery plan, to be announced in early June.” Fifth phase would be announced in October or November 2020.  Last would be REFORM which will be the focus on the 12th Malaysia Plan in January 2021.  Please read the full article with more details here:
Article in theedgemarkets.com

If we look at the world currently, we are affected badly by COVID-19. Fortunately we could see more normalisation happening.
Article on countries’ reopening here
  Even football leagues have started to move towards it too. A recent article here:
Football is big and money = economy
  It’s really not about when to reopen. It is now. It’s just a question of HOW do we do it. How badly affected is the world then?  Is the Malaysian economy still doing good?

Malaysia is not spared. Recently, IMF managing director Kristalina Georgieva said that the prediction of negative 3 percent a month ago may have to be revised. It is likely to get worse. This is why now it’s very important for all countries to also start taking pro-active steps towards economic recovery. It’s really not possible to wait for full reopening only after COVID-19 vaccine has been found and approved, manufactured and even delivered… That is likely to be very long time more to come.

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When everyone wants the property price to increase.

If we own a home which we are staying in, the main thing we are worried would be the maintenance part. We want to make it a comfortable one for the family. Water pipings and electrical wirings must been tip-top condition. Price appreciation will then come naturally, over many years of following the inflation rate for example. If we did not buy the home for own stay but our main focus was to have price appreciation, then the results may be different. This is the reason why the government introduced the cooling measures many years ago. They did not want the speculators to reign supreme and sweeping aside all the potential home buyers because of the fast pace of price increase. The cooling measure worked. That’s why our property market did not collapse due to speculative activities. In brief, sub-prime did not happen in Malaysia which is positive.

Reported in TheSundaily.my Khazanah Research Institute (KRI) director of research Dr Suraya Ismail

has urged the government to reconsider the property crowdfunding scheme under the peer-to-peer financing framework. She said, “It’s an investment scheme. There’s nothing to suggest that it’s a home ownership scheme because you don’t get the sale and purchase agreement.” She added, that this is also different from a Rent-to-own (RTO) scheme because in a RTO, you co-own or have mortgage with the bank and that’s the normal way the RTO works. Under the P2P framework, the buyer would have to co-own with a number of investors who are seeking capital appreciation. “It’s not something that will increase home ownership. It will only increase house prices because what they want is for it to appreciate,” she added. Looking further, there’s a potential of rapid house price escalation if the scheme is implemented.
Here’s the full article for reference.

Property prices will increase over time because that bricklayer’s salary per hour will increase, the cement’s price will increase and even the cost of the land will be rising. However, if the property price is rising at a pace much faster than the salary could follow, that’s when problems come. I am not sure if P2P may increase the property prices faster than if it’s an outright buy by the buyer. I do know however that a home is a necessity and thus the government must facilitate people in owning one. This is not some get-rich-quick scheme and real savings are needed. If everyone do not buy with their own money, that’s when I really worry. Happy following.

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written on 16 Nov 2018

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When FD rate is below inflation…. for Malaysia

I heard on radio about a promotion for a Fixed Deposit with a local bank today, 19th April 2017. The advertised rate was 4.5 percent per annum. Well, at the same time, I read about the news in
themalaymail
that the annual consumer inflation hit 5.1 percent. This is the highest within the past 8 years. The only time this was higher was in November 2008, touching 5.7 percent. If both the fixed deposit and the consumer inflation rates continue as it is, our savings in bank would actually diminish on a yearly basis. By the time we retire 30 years ago, I dare not think what would happen to our retirement funds. This should hopefully be temporary. Extreme low inflation rates are not necessarily good news. This is also the reason why if the consumer price index continues to climb in the U.S, it is considered a positive sign for another round of rate increase.

UOB economist Julia Goh said that while the March inflation is notably higher than the historical average of 3 percent, it is unlikely be a reason for Bank Negara Malaysia to increase the rates. (I also personally believe that the economy needs an accommodative stance as world growth remains weak.) This is because moving forward, the global oil prices are expected to remain stable. She added,“My take is that it’s still cost-driven. Assuming oil prices remain fairly stable within the 50 to 55 dollar (per barrel) region, inflation will taper off in the second half.” (She meant this high inflation rate is unlikely to continue) The reason for this high number was because of the low-base effect and higher retail fuel prices compared to a year earlier. BNM expects the same as Julia. A “relatively high” inflation due to higher prices in the first half and then dipping in the second half. Overall, inflation should range between 3 – 4 percent in 2016 according to BNM.

According to
www.tradingeconomics.com
 ,
Inflation rate in the U.S is 2.4 percent , Singapore is 0.7 percent, Japan is 0.3 percent and the United Kingdom is 2.3 percent. Actually these percentages meant that the fixed deposit rates are also low. Plus, it does seem that many countries are below Malaysia’s numbers. Well, the fixed deposit rates for these countries are low too. Here’s a full list of
 interest rates for reference.
 It’s by tradingeconomics. That is one key reason why other forms of investment may be more attractive too. Yes, when the rates remain low, the mortgage rates remain low too. The only issue? Sentiment may also be negative and thus reducing the likelihood that more people would look a new home. Happy reading and following.

written on 19 April 2017

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When the tide lifts all boats? When the followers willingly follow.

Still remember those crazy double digit growth years? Image attached. Look at the growth / drop in transactions and value. Both numbers are in percentage for easier reference. The two years highlighted basically shows that the VALUE dropped MORE than the drop in transactions. In other words, other than these two years, even when the transactions actually drop, the prices were still going up. Of course, potentially it may also
because the drop in transactions may be due to the lower priced ones
.
 Thus, overall value is still up. What this tells us is something we know all along. Property prices are still up even under current sentiment situation.

Looking at those years when the demand for properties was double digits, it showed that the demand suddenly jumped. Suddenly,
everyone needed a home

because everyone they knew was buying a home. Let me repeat since some did not catch my meaning. Everyone NEEDED a home because everyone they knew was buying a home. In brief, not everyone was buying because they needed a home. They were buying because everyone they knew were buying and they feel that they must buy before it’s too late. This has caused the property prices to move up very fast. In fact, the prices went up far too fast that in recent years we have seen some of those in slightly less popular areas dropping in prices. So, what should happen in the near future? Okay, sentiment is still negative, that’s quite sure.
Overhang seems to be up and not down.

Will prices drop then? Let me share my view.

In a competitive world, we should expect the number two to be challenging the number 1, whatever the product or services it may be. In fact number 2 would always be trying to do better and always charging lower. However, this is not true all the time. For example, the property market. Developers building in lesser attractive areas would have to price their products lower. Developers building in hotspots can price their developments higher.

What happens when these hotspots keep increasing in prices? The developers in secondary areas benefit too, they too can increase prices in tandem. Property prices could not rise forever. At max, it would be based on
what the salaries could afford.

Any higher, no one buys, market crashes and we get back the affordability based on what salaries could afford.

In Klang Valley, looking at the property prices meant that the same situation is happening. The hotspots would move up first, then the secondary areas follow. If only we can increase the number of hotspots…. Anyway, when the market sentiment improves, all areas would have price increases. As for now, it would depend on how strong those few hotspots / benchmark areas are. As long as they hold up well, the property prices for secondary areas may just continue to hold too. So, the tide may well lift all boats but usually, the followers would just follow the leaders.
Here’s one such ‘follower’ too.
Cheers.

written on 13 Aug 2017

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What happens to property market when inflation is always at 1 percent every year?

Most of my friends tell me that the inflation numbers published by the government is not reflective of what’s happening in the market. That was months ago and even years ago. I reminded them that inflation is not a number plucked out of the air but is based on a basket of goods. Of course everyone would have their own personal inflation since their basket of goods may be more expensive or cheaper. However, today (18 July 2018) a few friends forwarded the news about
Malaysia having1 percent inflation
 and well, they are suddenly happy with this number. I wonder what has changed. Haha. Anyway, should we be cheering if we have a 1 percent inflation for a very long time? Say, for the next few years? Japan has an inflation rate of less than 1 percent but the Japanese government is targeting 2 percent. In other words, the government wants a HIGHER inflation than what appear to be a good thing, right?
Here’s that news recently in BusinessTimes.com.sg: Japan inflation stuck at 0.7% in May, way below target.

Anyway, if inflation stays at 1 percent every year, these are the potential happenings in the property market. Property prices is not moving much or staying stagnant or even going down. We can say that this is positive to the potential home buyers since property price is no longer going up faster than their incomes. For existing home owners, this may not be a good news. It meant that the capital appreciation which usually happen in tandem with the inflation will also be low. This was a report by
 sekaiproperty for Japan’s property market.
 It said,
“Japan’s housing market might be confusing for some people, where the average house price in Japan doesn’t show any meaningful changes. From Q1 to Q2 2017, overall residential property price in Japan shows 0.37% raise.”

With inflation at 1 percent, it also meant that the demand for goods and services is not growing a lot. In brief, demand is only about equal to supply. Every company I know is aiming for growth in sales revenue which is by far higher than 1 percent but if demand is about equal to supply, I think at the end of the year, the sales revenue target will not be hit and the salary increments may no longer reach anywhere near the usual 6 percent. For advanced countries where the growth is no longer as fast as emerging ones, the typical pay rise may be 3 percent or lower. The U.S. had a projected 3 percent increment for 2018 and the year before, it was just 2.7 percent.
Here’s that article in investopedia.com

Let’s not conclude whether this is bad or good but this is what’s happening when the growth is no longer as fast as previously.

High inflation is crippling to the economy. 1 percent or lower is well a bit too low for me. I prefer a manageable number, say between 2-3 percent would be ideal. Last year (2017), it reached close to 4 percent while in 2008, it was as high as 5.45 percent.
Here’s that report.

Our Bank Negara Malaysia (BNM) is ever vigilant in containing the inflation numbers. For example, if the inflation starts going up too fast, they may increase the interest rate to tamper with the above-normal demand. What happens if inflation stays at 1 percent for the next 12 months then? Well, I think it pays to look at the economic growth numbers. If our economy is still growing healthily but only the inflation is low, this is the best situation for us. In conclusion, I do not want high inflation numbers but I certainly do not wish the inflation numbers to be too low either. 1.8 percent for 2018 may be a good number, predicted by RHB Research.
Here’s that report in malaysiandigest.com
 Happy following.

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written on 18 July 2018

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When international travel is intensifying again

Are you ready to travel internationally again? I think I am. First thing first though, need to renew my passport online. Here’s the link if you are also thinking of doing the same as me.
Malaysia Passport Renewal Online.
 My first destination may even be to the U.S representing District 51 Toastmasters here in Malaysia to the annual international convention. Second destination should be to some ASEAN countries. Do I feel comfortable to travel. Well, too many of my friends have travelled near and far thus far. So, perhaps I should join them too.

Now, if we intend to fly, are the flights ready? Are airlines ready with pilots? Today, let’s just look at some employment news of airlines, the famous ones yeah.

Article in thestar.com.my
  Singapore Airlines (SIA) is looking to recruit about 2,000 cabin crew as air travel continues to pick up pace.  More than 800 cabin crew members have already been hired since hiring started in March. About three in five of these were former crew members who had left the job.  The remaining new crew members are set to be hired by the end of the company’s current financial year next March 2023.
Article in thestar.com.my

Article in thestar.com.my
  Cathay Pacific Airways will rehire hundreds of cabin crew who were previously laid off or resigned ahead of plans to ramp up its flight services, the
Post
 has learned. The airline company invited former staff who had said they would like to be contacted for future jobs to send a priority application in an email seen by the
Post
 on Wednesday. “I’m pleased that as we look to resume our flight operations, it is the right time for us to begin rebuilding our team,” Jeanette Mao, the airline’s general manager overseeing in-flight service, said in an email.
Article in thestar.com.my

When international flights start to become popular again

Malaysia’s total foreign visitors dropped 90 percent in 2021 versus 2019! It used to be over 26 million. It was just 4 million in 2021. Yeah, that’s pretty crazy right. From over 2 million per month, total visitors dropped to just over 4 million one whole year! My friend said KLIA is still very quiet. In fact a friend said that even Changi International Airport is considered very quiet. This is where I think when the rain comes, it will pour. Happy planning for travel and remember to always stay on the safe side when it comes to wearing a mask in public areas, especially in a foreign country.

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When it’s ‘dangerous,’ consultation for a solution is necessary.

I am pro-development; responsible one. For example, redevelopment projects where the density will be many times higher is totally fine for me as long as it is connected the the MRT / LRT network and the prices are made affordable due to the higher number of units for more Malaysian households. However, I am against developments when it does not take into consideration the concerns of all stakeholders. this is especially if there are claims that the development may have dangerous elements or has not been informed earlier. Perhaps local authorities could be the mediator too.
Article in NST here. Penang condo residents fuming over dangerous encroachment of new project

According to the the news article, the residents of a condominium at Sungai Ara is furious with a new development which will be demolishing an entranceway into their condo. The entranceway will be narrowed to make way for a new condominium development. The building’s joint management committee (JMC) chairman K. Raj Kumar said they were only informed of the matter in December 2018. In a hearing meeting on the case at the Balik Pulau land office last month, it was informed to them that nothing could be done anymore because the new project has been approved by local authorities. He said, “Usually, for such projects, there would be a road safety assessment or traffic impact assessment. But this proposal was made some time in August and was completed and approved by November.”

“The following month, we were notified through our developer that the land at our entrance (had been acquired) and that part of it will become the entrance for the new condominium.”

He added, “There was no communication at all with us as the affected parties. We were left in the dark – and suddenly, hit with a bombshell. No consultation, no meeting whatsoever.”

Beyond just the entranceway issue, there will be an additional 800 condominium units and affordable homes to be built on the parcel of land next to their building. It is learnt that a different route to the new condominium – on the other side of the parcel of land – was initially drafted by the developer, but residents of nearby terrace houses had objected to it.

Another JMC member, Dr PL. Narayanan, said that the planned narrowing of their condominium’s entranceway will pose a danger to residents who will have to make very sharp turns when driving into the development. He said, “Imagine having hundreds of vehicles entering and exiting the same small road. This is ridiculous and dangerous.” The residents are hoping that all parties involved in approving the project to hold discussions with them to find an amicable solution to the issue.
Article in NST here. Penang condo residents fuming over dangerous encroachment of new project

Hopefully a meeting could be held in the land office soonest possible and facilitated by the authorities. I think in this case, someone from the state government should be present. This is why people voted for them yeah. It will not be possible for a one-side-win-all kind of situation. Perhaps it’s best to get people with engineering expertise as well so that the solution can be based on alternatives and not just a debate on who’s right and wrong. Continuous delay is not beneficial for all parties. Will report as and when there are further updates.

written on 12 Feb 2019

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When it’s tight, price is high

Nice title yeah. I thought so too. Okay, we know land prices in Batu Kawan, Penang is now RM60 psf instead of the single digit years ago before the Second Bridge was built. We also know that prices in certain prime areas can reach RM88 psf in Shah Alam easily.
(Shah Alam Damansara Heights)
 What about land prices in an area all of us are familiar with. What about Bukit Bintang? RM1,000 psf? RM2,000 psf? Well for a piece of very prime land, it can be up to RM3,280 psf.  The transaction was recent, Tropicana Corporation sold eight parcels of land in Bukit Bintang to Offshore Triangle for RM448.4 million. Total land size was 1.3 hectares. That’s about 140,000sf. Yes, it’s a very small piece of land. That’s why the price is much higher compared to larger pieces of land.

With this small piece of land, Offshore Triangle will develop the 1.3ha land into a mixed-use commercial project with a gross development value (GDV) of about RM1 billion. In other words, the price of land itself is already 45% of the overall cost! This does not really give a high gross return and the company must manage its costs well because the margin is not high. The company is a 30:70 joint venture between Tropicana and Agile Property Holdings Ltd, a Hong Kong-listed builder with hotels and commercial properties in China.

Do not worry, this is not the usual land price. If it is, I dare not imagine the total prices that we would have to pay to buy a roof over our heads. Selectively, some of the recent land transactions in Iskandar includes the following in the chart. These prices are always much higher than even prices that you pay for a piece of land in the island of Penang. However, if everything falls into place for Iskandar, these prices would still enable the developers to have sufficient profits to continue developing. The reason being, it’s right next to Singapore. Hopefully, the cordial relationship today between Malaysia and Singapore grow stronger as time passes.

Written on 15 May 2014

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When landed is pitched against condo and everything is ‘very much the same.’

If prices are the same, would you prefer to buy a landed property or a condo? (By the way, my personal answer is condo but we must understand the majority may not think like me) Let’s assume the landed is at least 20 x 70 and the high-rise would be 1,200 sq ft. We should also assume that both are just next to one another within the same neighbourhood. Same developer even. We also assume that the neighbourhood is a safe one and there’s no need for any gated & guarded community. I think the winner would be the landed home, right? In real life situation however, this does not exist. Not in Malaysia, not in Singapore and definitely not in most countries in the world.

Many times we read about some conclusions telling us that most people prefer landed over condo and we think this is the reason why we must buy a landed? Or the story about how landed would have better price appreciation because land cannot be increased while condos could be built ever higher? Thus, when the quantity is many, the prices could not go up much? By the way, there is a reason why many landed development nowadays say that they have multiple security levels, a fully equipped clubhouse for the residents so that they get to enjoy facilities within the development and even complimentary transport to the nearest mall for example. There is also a reason why condos, especially the luxury ones are really huge, sometimes a few thousand sq ft and may have a duplex concept. There are also those which cars could be parked right outside the condo even if you are staying on the 16th floor for example. See what I mean? Both are trying to outdo one another by copying what the other has.

There are also three things that will cause the decision to be harder to make.

Number 1. Landed homes in some mature neighbourhoods would already be priced so high that not even the top 10 percent income earners in Malaysia could easily buy. Those who bought were at an earlier and lower price most of the time. Those who bought today? They are by far richer than me and perhaps owns a start-up which has gone international. 😛

Number 2. Condos are usually in a much better neighbourhood. Somehow a small piece of land was available in some mature neighbourhood and the only way to build properly is up. There are so many choices still, within the KLCC vicinity today. Yes, even in Desa Parkcity too…. Or those who must stay in Mont Kiara area for example, the cheaper way is to buy higher up and not on the ground; landed.

Number 3.  Capital appreciation does not happen JUST for landed. It does not happen JUST to established neighbourhoods. It could ALSO happen for condos. It could ALSO happen for secondary areas which are continuing to grow and perhaps even 10 minutes away from some established neighbourhoods. However, the condo prices would not usually be higher than the landed. The secondary areas would also not lead the price increase but more of a follower to the established neighbourhoods.

Happy buying yeah, whether it’s the
‘sure go up’ landed property

or the ‘maybe can go up’ condo. I still have not placed any downpayment for a landed property. Not because I dislike landed lah, it’s because I am a working professional and downpayment for a landed property in an area I like is too high. As for those I could afford, at the moment, I still feel they are a tad too far away. Who knows, in a few years time when I have a more flexible working schedule, I can buy a little further away? Cheers.

written on 9 March 2018

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When locals could not afford, that’s a really big issue.

The property markets of Sydney and Melbourne are favoured by many foreign buyers, especially Chinese (China). There are lots of valid reasons including the fact that both are listed in all the typical most liveable international cities in the world. The Chinese parents may have bought because their children may also be studying in Australia too. Anyway, this is the same for many super-wealthy Malaysians who bought properties in London. However, what if the property prices rose to a level that most local buyers could no longer afford? Would a bubble burst?

Actually, based on the median property prices in Sydney versus the median income for the typical households, it’s already considered grossly unaffordable to many Australians themselves.
Here’s one latest article about it.

The only saving grace is that Australians love properties and thus would do their best to get one. This is a very a different situation if we are talking about emerging markets instead of an advanced one like Australia.

This is one recent article about how foreign buyers are really pushing up the demand for properties to the extent that based on just prices per sq ft, the prices are higher than even many neighbourhoods in Greater KL!  It’s about Phnom Penh.
Article by South China Morning Post here.
 According to Cambodia country head at property consultancy Knight Frank Ross Wheble, Phnom Penh will have 22,828 luxury apartments by the end of this year. This is already more than double the current number of 8,942 units.

What’s more alarming is that the prices per square metre is US$3,500 (RM14,000). (If we calculate on a per sq ft basis, this is RM1,400 per sq ft. We do not have this price even in areas such as Mont Kiara or Desa Parkcity yet. The local currency is not favoured and the US$ is used instead. This meant that prices are rising 4 times faster than Malaysia, currency wise.) The rents can be easily US$1,000 (RM4,000) per month.
Please refer here for the article again.

In case everyone’s wondering if Cambodians earn much higher salary than Malaysians, well, nope. The upper income is around RM40,000 per annum. Yeap, that’s the minority. Middle income earners can be up to RM16,000 per annum. So, they definitely cannot afford a US$1,000 per month rental. Okay, so if the condo market is supported mostly by foreign buyers, is it safe? Would the property bubble burst, if any?  Well, it depends on how far and how long would these foreign buyers be willing to support the market; believe in the market’s continuous rise in price.

We must always remember that when the property market is pushed up by foreign buyers, it’s also very likely that at the first instance of problems, they would dump the properties. The owner holding the property last would face the biggest issue.It’s not up to us to worry. Always look at our own market and be very worried if the foreign buyer numbers rise to a very high number. I personally rate anything below 10 percent as ok but the last I checked, the foreign buyers interest in Malaysia is just not high enough. Transactions remain low. Happy following.

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written on 5 June 2018

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Luxury properties, anyone? Specifically overseas buyers?

Super luxury properties are not the best form of investment, seriously. For the majority anyway. One has to really super-wealthy, say a billionaire to even afford to buy a 100 million ringgit property. Even then, it meant that we have just spent 10% of our wealth on a property which we intend to stay? Or host parties? At least if we stay, we save on rentals. (Haha) If we host parties, better spend a bit more and do not just order the usual fried meehoon and some curry chicken. (Yea, that’s me usually). Anyway, assuming we intend to buy it as an investment, I think it is very possible. (smile…) The reason is simple, there are many other billionaires who may have the same thoughts as us. So, they would buy from us at a price higher than RM100 million and they would then sell to the next billionaire at a price which is higher than the higher than RM100 million that the second buyer paid for. (statement is grammatically correct though pun intended). Other than all these billionaires, well the rest of the people including me would continue to work very hard to ensure we can have a good overseas vacation once in a while. There’s really an article talking about the super wealthy buying super expensive properties; luxury properties.

One article in
www.ft.com here: ‘The gilded glut: falling demand hits luxury property market’
 talks about the state of the super-luxury properties globally. (too bad, it’s by subscription only, sorry). In brief, it tells of the story of how there are now many surplus units of luxury properties in London, New York and other cities because the overseas buyers have retreated. It tells of some horror cases where the developers have had to provide a huge discount to shift units. Some developers were trapped because they bought expensive land. 1MDB was mentioned. In fact there’s a so-called ‘Singapore-upon-Thames’ project too in London. It also shared the news that for many developers to build affordable homes, it has to be built together with luxury units (as these provide the profits necessary from the negative returns from affordable units). Battersea Power Station Development Corporation was said to have applied to delay the building of affordable homes as well as to review its other affordable housing commitments. Well, in conclusion, this is not the best time for luxury properties.
 Another article here from business.financialpost.com

Before all of us feel too negative, there’s actually a positive where luxury properties in Kuala Lumpur are concerned. This is the article in
NST. Glamour returns to luxury properties
 Reported in the article was Knight Frank International residential research partner Kate Everett-Allen who shared that despite the world’s current state of political and
economic flux (very slow….)
 , there was still a degree of safe-haven investments flowing into luxury property markets. The positive is more on the pricing side. Out of 41 cities tracked byKnight Frank’s Prime Global Cities Index, KL was ranked 31st LEAST expensive. Currency definitely plays a part which to me is an advantage to developing property markets like ours when we look at the article in FT above. In Malaysia, foreigners are also expected to buy only the more expensive ones instead of the usual bread and butter properties for middle income Malaysians. It’s the same in Singapore too where there are many limitations and the luxury properties bought by foreigners are usually in Sentosa island too. Happy following and happy buying luxury properties. (If KL is ranked so low… perhaps there’s a lot of rooms for growth?)

written on 10 June 2017

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Are sellers really desperate? Would we reach it?

Many weeks ago, someone asked me if the Klang Valley property market is bad. I asked bad in terms for developers or bad for owners / sellers? I know he does not mean bad for potential buyers. I told him that the market has indeed slowed but I still do not see really drastic actions by many developers yet. What we could see however is that developers with cash or big appetites and vision are still snapping up land parcels. Some announce to the world that they have a huge war chest and they are scouting for more lands. Some try to get more funds from the public to expand. More non-property players are now entering the market to also get a slice of the action.

The situation is very different from a SMS which I received today. Remember all the uproar and sharing on Facebook about how loyal Maxis users were apparently mistreated by Maxis’s special promotion which was only given when any user decides to stop their subscription? I started using Maxis in 2000 I think. That’s 17 years ago. I have been happy with Maxis’s coverage thus far. My whole family is still with Maxis, currently. However, I told my wife that as soon as my package is over, I would be porting over to another brand instead. I needed more data but I was not willing to pay ever higher for it. Today, the SMS came (refer image) and I told my colleague that I think I will be staying put. This is what I would define as a NECESSARY move before everything gets uncontrollable.

In Malaysia’s property market however, I seriously do not see this ‘necessary’ move yet. When the situation do get serious (bad) in the property market, I think we would see many smaller developers being forced to exit the market. The total outstanding / unsold number of units would rise to a new high. The buyers would disappear from the market not because they do not need a roof over their heads but because none of their friends were buying. This may happen if Malaysia spins into a full recession caused by the world falling into a recession. To be frank however, current signs are not pointing into that direction. Let’s keep monitoring the market yeah. Happy searching for undervalued properties.

written on 8 Apr 2016

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When more trains are added to a LRT line, what does that tell you?

Buying a property, we always need to refer to the 4Ps (Price, People, Preferences and Policy). Very briefly, Price means if we paid too high, we will need to really wait… People means if it’s in the middle of nowhere and no one wants to be staying there…. Preferences meant we look at the trends; malls, cafes, younger work force, smaller families etc… Policy is definitely what the government does; MRT Lines, more infrastructure, a new economic region etc. All these are important considerations and it encompasses a much wider way of thinking versus just location alone which is actually a final outcome from the 4Ps.
Here’s an earlier article on 4Ps.

Article in themalaysianreserve.com
  PRASARANA Malaysia Bhd will add 27 Bombardier Innovia Metro 300 train sets to the Light Rail Transit (LRT) Kelana Jaya Line starting next month until 2023. The new trains will be more comfortable and will reduce waiting time from three minutes to two minutes. He said, “Some other improvements include equipping the trains with the new digital route map display system which is integrated with a better door system and improving the train management system where the status for Passenger Information System for each train will be provided.”

Before the arrival of Covid-19 outbreak and the Movement Control Order (MCO), the LRT Kelana Jaya Line carried an average of 319,241 passengers daily. It has a projected increase in passenger number of between 7-9% per annum and thus these trains are needed. Do refer to more details here:
Article in themalaysianreserve.com

319,000 passengers daily is more than double that of the MRT Line 1.  This tells us two important facts. #1 is that areas along the LRT lines continue to grow with more population and the lifestyle of driving a car may also be changing too. #2 is that there are lots of opportunities along the areas which the MRT Line 1 passes through. We must not forget that the LRT line did not suddenly carry over 300,000 passengers per day in the beginning.  So, what are the actions we could take if we are really thinking of property investment and we want it to be within the connectivities of these train lines? Happy acting on it.

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When push comes to shove, needs become key.

Where do you shop these days under the Movement Control Order (MCO)? All the places are shop are within 2.5km from my home. None are the huge hypermarkets. They are the smaller convenience stores with enough variety of things but lacking the diversity of brands. If my wife asked me to buy sweet corn in cream (she usually tells me the brand too), I will buy the only brand available in the store and no longer needed to look through the 7-8 different brands to pick one.

If my wife asked me to buy a pack of sausages (with her favourite brand), I will usually have 2 different brand choices and I choose one. During the days before MCO, there may be 15-20 brands for me to choose. This is the point. Now, we buy because we NEED. Consumption of goods usually come back to what we really need when push comes to shove. We will talk about property at the conclusion of this article yeah. 😛   Coming back to what I bought.

I bought these groceries online the other day. These groceries were for my baking needs. I have since baked egg tarts, butter cake and even a kuih called Put Chai Kou (my wife and daughter’s favourite). Why don’t I buy them in the nearby convenience stores then? Frankly, I really hate to be in the convenience store for an hour trying to look for everything in a list of 30 items. Just give me a list of 10 items, I finish the shopping in 15 minutes and be home in 20 minutes. I only go to the grocery store for essential items like chicken, vegetables and fruits. How long did these items take to arrive? Well, it arrived on day 4! This is quite amazing because the shop is in Langkap, Perak. (small town in Perak).

Will I continue to buy from this shop after the MCO? Let’s just say that this exposure meant that this little shop in a little town has just become another place I could buy from. By the way, it’s not just me because right after my order was completed, the very next day when I looked back at the shop, nearly 80% of all items were SOLD OUT. Haha. Yeah, you guessed the answer. Many  Malaysians were doing the same thing as me, shopping online and found the same shop too. Imagine trying to sell 20 packets of corn starch powder in one week to a little town and now with the power of online, you sold the whole stock of 30 packs all in a few days.

So, how are you buying your groceries?  Do share your experience yeah.
(If you like to know how I stock up 10-days of fresh fish supply, read here)
. There was also an article in
themalaysianreserve.com on how some of the smaller convenience stores are thriving during the MCO. (read it here)
 The few names it mentioned included KK Supermart and 99 Speedmart. Yeah, I have shopped in both of these too during MCO as both are conveniently located just outside my home.

By the way, it is the same in the property world too. NEED may soon take over. When prices kept going up way faster than the salary, very soon, the salary will take over the decision and this DEMAND will now force the developers to build something which the people could buy. This is how SUPPLY changes. People still want to buy because they definitely need a roof over their head but if prices do not change, then no buying happens.

For the supply to happen at the same price, that choice of location will now be limited to places where land is cheaper (usually further), it will also be limited to a ceiling height of 9.5 feet versus 10.5 feet (quality). A saving of 1 feet per floor means every 10 floors, the developer could build one additional floor. This meant a lower price. This is why when it is needed, then NEED will change the demand and force the supply to change too. I know, there are a lot more other circumstances and variables but as long as you understand the idea. Happy shopping around yeah.

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When rental increase is 5 percent every year. Who is happy?

I wrote this article one week ago.
Rental increase of not more than 5% okay?
 I think some may still think that they can easily pay the extra 5% every year lah. Their increment of 5% per year is more than the rental lah. By the way, they are right. Take a look at a simple calculation yeah. Rental increase will always be smaller than the salary increment in terms of amount.

When rental and increments are both increasing at 5 percent per year

Salary of RM3,500.  Renting a room with 20% of pay would be RM700. So increment of 5% means RM3,500 x 5% = RM175 extra per month. Rental of RM700 x 5% = RM35 only!!  RM175 minus RM35 = RM140. See, the person is still okay because the increment is proven to be higher than the increase in rental when rental is LIMITED to just 5% per year.

Any laws in Malaysia saying rental can only increase by 5% every year?

That’s precisely the issue here yeah. There are no such laws in Malaysia where the rental increase cannot be more than 5%. Also… if I am the owner and my rental is RM700 per month, I will usually increase by RM50 lah… not RM35. So, if a typical homeowner increases the rental by RM50 from RM700, that is 7 percent yeah.

Just now was a RM700 room. What if it’s a RM1,600 apartment?

To rent a RM1,600 apartment, hopefully this person is earning RM8,000 per month… 20% of salary for rental.  Else, if this person is only earning RM5,000 and renting at RM1,600 then he would be spending 32% of his pay just for rental. Quite a big number really.

RM1,600 x 5% increase per year is just RM80 per year. Oh… so little. Anyway, most probably the homeowner would ask for RM100 increase instead lah.

Meanwhile a salary of RM8,000 x 5% = RM400. Wow. RM400 increment and just need pay RM100 for the rental. Good deal lah. The person still have an extra RM300 to spend every month.

Meanwhile a salary of RM5,000 x 5% = RM250. Erm… RM250 minus RM100 rental = extra RM150 per month. That’s just RM5 per day extra. Not such a good deal yeah. Better not rent the apartment lah, maybe switch to just a room?

There are NO laws that salary increment must be 5% yeah

In Malaysia, we do NOT have laws to say that rental must NOT increase more than 5%. That’s true. We also do NOT have any laws to tell all employers to pay a MINIMUM increment of 5% per year yeah. So, the employer may give a higher increment than 5% to everyone (and everyone is happy) or the employer could choose to give lower than 5% or give none because the business was ‘not good’ as well.

What happens next? The employee could then decide to cut his own salary since his rental increased but his salary did not. It means that for that year, his standard of living has dropped because he has less to pay for other things. Alternatively, the employee could just choose to change jobs for a higher pay instead. Both options are up to the employee.

Happy deciding yeah. There are no laws to compel the homeowner not to increase the rental by an amount she likes. There are also no laws to force the employer to pay an increment higher than 5% every year too. Just do our best to get as high increment as possible and at the same time to keep moving for a lower rental every year if the homeowner decides to increase the rental every year.

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When should we buy into townships? Beginning or at the end? Both have their advantages.

I love mature neighbourhoods. It has everything I need within minutes, probably less than 5 minutes as soon as I start car’s engine. My wife could to send the kids to school and then drive to the office come home in less than half an hour. There would be school choices from nurseries to primary schools and even secondary ones. It’s convenient. In the evenings, she could bring the kids to the nearby kids’ playground. Kids are happy.

For some of these neighbourhoods with public parks, my parents could just go out to the nearby park for a stroll. They could enjoy some fresh air and read the newspaper. (Yes, they still buy newspaper daily)

As for me, for 5 days every week, I will have to leave the house earlier so that I could have breakfast somewhere nearby the office. I hate jams. Especially the“10 seconds move 2 metres kind”. In the evenings, I may be home slightly later than dinner time to skip the jams but that’s the usual lifestyle of a working Malaysian anyway.

For the average Malaysians, there’s only a small hiccup in the above lifestyle; property price. If we are looking at a typical landed property, it is a certainty that the price is over RM1 million today and since the property is not a new one, we would need to spend on some major renovations too including  electrical wiring and piping. We could choose a high-rise instead for more affordable prices. However, this depends on whether we are fine with a smaller sized place because the typical prices would be between RM800 – RM1,000 per sq ft for condos in mature neighbourhoods today. A good example? Bangsar South is only 8km away from KL city centre. Another example but 20km away would be Desa Parkcity.

An emerging choice these days
for many Malaysian families would be new townships.  Think a little further in terms of distance where the property price remains a huge advantage. Sometimes as much as half or more when compared to mature neighbourhoods. For example starting from RM600,000 for a new home versus RM1 million for a secondary place in a mature neighbourhood today.

For these townships, landed homes are still the norm.
High-rise units would usually start many years into the township development; when all the big pieces of land within the township are all fully developed and also when the landed properties are already getting expensive.

As for the actual duration, a slightly adjustment in time we start the engine will help tremendously and the usual jam does not start until we are well inside the KL city centre. The first 40 minutes is usually a breeze. Do take a look at the Google Map to understand where the jams are.

The amenities are also being added into the township as the time passes. More nurseries,more schools, more banks, more eateries and many more places to chill with a slice of cake and a cup of coffee. As many would say, the more cafes meant the area is more expensive.

What happens to a township is that the starting prices are usually low enough to attract buyers. Remember Desa Parkcity landed homes when it first started? Yes, they were definitely within the ‘affordable’ category and my good friend told me that there were even unsold units when the keys were handed over to buyers. Fast forward to today and any unit below market price would usually be snapped up, fast.

Do we buy into new townships then?
Perhaps a few better questions to ask would be as follows:

1)Does it fulfill minimum requirements for a home; connectivity, amenities etc

2) Do we prefer closer and smaller or further but bigger. (same price anyway)

3) Are we prepared to change our lifestyle for the weekdays, slightly?

4) Would our loved ones enjoy the many things which comes with a township; from parks to lots of trees and sometimes a 5-star standard club house?

5)Are we aiming at good capital appreciation by starting lower? (quite certain by looking at the prices of many townships from its beginning to today.)

Happy deciding.

Perhaps a look at a meticulously planned new township for the family?

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When the job market is stable…

Job market is a very important barometer of the economy. It is also the main pillar of support for all investments including property. When more jobs are lost than created, trouble is brewing. Singapore is already a major financial centre rivalling the top in the world while Malaysia’s only ahead of other ASEAN countries for now. Are there more jobs being created in the financial services sector? Or are there more retrenchments since transactions are really moving online and there’s little need for ever higher hiring of tellers or non-sales related staffs. In fact, IF supporting sites such as comparison sites like iMoney, CompareHero or LoanStreet are able to sell more credit cards or other financial services independently, banks would need to hire fewer people. The hirings would still be carried out, just not by the banks themselves. For the financial services sector, l
et’s just listen to what Bank Negara Malaysia has to say shall we?

Here’s that full link if needed.

— start —

In
4Q 2017
, total
employment
in the financial services sector, covering banking institutions, development financial institutions and insurance companies/Takaful operators increased by 0.3% to 164,885 persons (4Q 2016: 164,463).

Job creation
expanded by 8.7% for the full year 2017 (7,200; 2016: 6,624), despite a slight moderation in 4Q 2017 (1,170 jobs; 4Q 2016: 1,655 jobs), reflecting continued demand for high-skilled positions (96% of total jobs created).

Job vacancies
increased by 7.3% to5,609 positions in 4Q 2017 (4Q 2016: 5,227 positions), due largely to the increase in job creation during the year, coupled with marginally higher
job separations
 (4Q 2017: 6,417; 4Q 2016: 6,284).

The
outlook
 of labour market conditions of the financial services sector remains positive with expected higher job creation in the first three to six months in 2018.  Meanwhile, about 70% of the FIs do not expect any layoffs and discharge.

— end —  There are also a few other charts too.
Full report from Bank Negara Malaysia can be downloaded here.

Anyway, for an overall job market of Malaysia, this is what a survey carried out by JobStreet.com for Job Outlook Report 2018 says. “According to the report, stronger job opportunities are expected than what was available last year, with 30% of Malaysian employers indicating an increase in hiring activity, which is a 12% increase year-on-year. Meanwhile, 15% of the employers surveyed have mentioned that they will maintain the same hiring level in 2018 as they did last year.” The top 5 things employers MUST watch out for because they are desired by the employees include medical insurance, transportation allowance, medical coverage for family or dependents, pension or retirement fund and flexible working hours.
 The full article in freemalaysiatoday here.

Hopefully your employer has done enough to keep you, the best talent within the company. Happy looking for a new job after Chinese New Year which is also after the bonus has been paid. Just take note yeah, if our company does not appreciate us and yet we could not find a better job or a

higher paying one outside, it’s nothing to do with the economy currently.
 The problem might just be us.

written on 20 Feb 2018

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