Making Your Dream House A Reality: Myra Partners With Livspace

Press Release: Making Your Dream House A Reality –  Myra Partners With Livspace

Myra’s partnership with Livspace is set on creating a world of convenience through affordable, customisable options.

Buying a home can be quite an ordeal, especially as a first-time homeowner, not to mention how exhausting and discouraging it can be to design and furnish a home. There is additionally the more prominent weight of cost, transportation and accessibility, which can, without much of a stretch, turn one of the greatest moments in life into a nightmare.

However, property developer Myra’s unrelenting dedication to providing a seamless homebuying experience has led to its recent partnership with Livspace, an interior design expert. The Myra Putra project is keen on creating revolutionary waves in the real estate industry by providing homebuyers with affordable options that are also customisable and perfect for first-time homeowners.

The Myra Putra project by Myra, located in Desa Pinggiran Putra, Putrajaya on Malay Reserve leasehold land, is part of the affordable housing initiative introduced under the KPKT MyHome Scheme, which reconceptualises the make and feel of an affordable home. The project was initially launched three years ago, but it successfully sold off in just under one year and is currently managing the key handover due to high demand. Its recent partnership with Livspace will bring added benefits where homebuyers are awarded a one-stop-shop experience with all things interior at a discounted price.

Livspace,
I
ndia and Southeast Asia’s largest and fastest-growing omnichannel home interiors and renovation platform is an interior design maestro that has partnered with IKEA, all for the common goal of bringing personalised designs and products to homebuyers at an affordable price. It uses its proprietary technology to provide a one-stop renovation solution for homeowners — from design to managed last-mile fulfilment for all rooms in a home.

This collaboration curates three distinctive packages, particularly for Myra Putra’s residents, with prices ranging from RM14,900 to RM24,900 to meet the homebuyers’ affordability. These packages include design, project management, furniture assembly, installation, and full house renovation to ensure a hassle-free, smooth experience for homebuyers without liaising with multiple contractors. This also gives homeowners an excellent opportunity to save up to RM2,500 while attaining top-notch benefits.

When designing a home, particularly as a first-time owner, it’s so easy to feel overwhelmed and not know where to begin, and this is where Livspace factors in with their modern, minimalist and stylish designs. They also provide project management services that will save you the time, cost, and frustration of delegating work, especially if you have a busy schedule. Homeowners can also request full-house renovation services though they will incur extra costs.

There will only be a 10% booking expense for Myra Putra’s homebuyers, making it easier for property holders to take the next step in building their homes. Not only that, but it will also be an excellent investment with great value for money, especially for first-time homeowners.

Homeowners can enjoy a one-year insurance policy through HEMSÄKER which is a home contents, personal accident and personal liability insurance offering, underwritten by Etiqa General Insurance Berhad. There will also be a 365-day return policy on IKEA products. Furthermore, IKEA’s refund and return system are super easy and serviceable; any inconveniences faced will be significantly reduced.

The Myra Putra project comes with amenities and services, including; a 24-hour guarded community, a colourful community area featuring an outdoor playground, a basketball court, a junior wall climbing area, a picnic area, and a fun park. It is in close proximity with Nilai, Dengkil, Cyberjaya, Bangi, and Kajang. The units are 920 sqft with 3 bedrooms, 2 bathrooms, 1 balcony and 2 car park spaces. The project is set at a GDV of RM60.2 million.

“The purpose of these affordable and yet comprehensive packages is to create a conducive environment for small families and first-time homebuyers where they can finally build their own homes without worrying about sky-rocketing fees and hustles that come with it. Myra Putra is a family-friendly community designed as a colourful and vibrant space that necessitates the need for space and privacy, especially for growing families. Through our partnership with Livspace, it is our desire to see potential buyers relive their dreams of building and designing their first homes with our stress-free packages,” said Wendy, the General Manager of Myra.

Livspace’s Malaysia Country Head, Ryan Teh further added to that, saying, “We are excited to be part in this ground-breaking development and any value we can add to homeowners as Asia’s largest and fastest-growing interior design company. As we move into this new venture in collaboration with Myra Putra, our main objective remains the same; creating the home of your dreams at an accessible price. Whether it’s a magazine-worthy, state of the art kitchen or a comforting space with nostalgic elements for you and your loved ones, we do it all – providing an end-to-end solution, from design to installation.”

If you missed out on Myra Putra, worry not because the launch of its twin, Myra Putri is upon us. Located in the town of Desa Pinggiran Putra as well and just a short drive away from Myra Putra, Myra Putri is a low-rise apartment featuring 310, 900 sqft units with 3 bedrooms and 2 bathrooms. The pricing will be similar to Myra Putra from RM330,000.

Building a home can be a monumental experience significantly tied to our individuality. Some may view it as a way to express themselves and will love the idea of taking part in creating sanctuaries where they feel most comfortable.

Through this partnership, Myra will act as the connecting bridge between Myra Putra’s homebuyers and Livspace in building dream homes with a personalised feel that will speak to the homeowners. After all, everyone deserves a chance to write their story within the walls they inhabit.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can visit
 www.myra.com.my
.

-End-

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Myra – From Ordinary Shoplot To Artistic Wall Mural

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release: Home Is Where The Heart Is: Myra Putri Is The Perfect First Home For Young Civil Servants

Myra Putri offers young married couples serving the nation the perfect starting point for building their future

Very much like welcoming a firstborn child, there is a sense of both joy and pride when making the decision to purchase a first home. And that’s where Myra aims to elevate the burden for first-time bumiputra homeowners in their 20s and early 30s with the new launch of Myra Putri after the successful debut of Myra Putra.

In particular, Myra wishes to revolutionise the definition of affordable housing by cultivating an environment necessary towards making home ownership an accessible and stress-free experience. This is achieved by eliminating negative concerns such as skyrocketing home prices and escalating interest rates often associated with the first home-buying process and turning it instead into a renewed sense of excitement.

As such, Myra Putri caters to working individuals and young married couples serving in the various Malaysian government sectors that are currently centralised at the Federal Territory of Putrajaya.

Boasting a Gross Development Value (GDV) of RM 115,000,000 Myra Putri provides exceptional value and a safe, convenient residence for new hard-working families to live, thrive, and grow.

Starting from RM 375,000 for a unit that’s 904 sq. ft. in size with 3 bedrooms and 2 bathrooms, Myra Putri is located in the town of Desa Pinggiran Putra and is a cost-effective option when compared to other low-rise apartments in the vicinity. It is also notable for being a low-density development with only 310 units within its 8.84-acre Malay Reserve land size.

PRINCESS DIARIES

Suitably, Putri means “princess” in Malay and is the perfect companion project to the previously launched Myra Putra nearby – the first high-rise development in the area by Myra. Putra means “prince”, and thus Myra Putra was meant to portray strength in character, sturdiness, and dependability with a humble yet refined outlook.

Conversely, Myra Putri aims to flip that with a confident vibe that’s playful, passionate, and forward-thinking with a youthful twist. Building upon the insights we gained from Myra Putra, we aimed to create a truly enchanting home with Myra Putri and provide our customers with their very own happy ever after.

Homeowners will be hard-pressed to find another project in the same price bracket that offers a similar array of facilities and amenities. To reaffirm Myra’s commitment towards community living and the well-being of its residents, there are fitness stations such as a futsal court, trampoline garden, and even an outdoor gym.

For the little ones, a full-featured playground will keep them active and entertained. The hope here is to foster a peaceful and nurturing environment to raise young children into outstanding adults. There’s also a multipurpose hall for residents to hold events and gather at the BBQ area. And lastly, there is also a
surau
 (dedicated prayer space) for residents to utilise as the need arises.

“We wish to debunk the myth that a young working couple’s first home has to be sparse, bare-bones and uninviting to relatives and visitors,” said Akil Hassan, Branding & Culture Chief of Myra. “We drew valuable feedback from the successful launch of Myra Putra, and our team has persevered once again to balance the inclusion of top-notch facilities with the need to maintain affordability. We are proud to present a final product that seamlessly integrates both affordability and a rich array of amenities.”

ENCHANTED ABODE

Fittingly, Putrajaya is just a 10-minute drive away from Myra Putri, which is a main hub for government complexes, agencies and administrative offices – this includes Perdana Putra, which is the Prime Minister’s Office, and the Ministry of Finance.

Residents can also get their shopping and entertainment fix at the nearby Alamanda Putrajaya Shopping Centre. Travelling out of the country and interstate is likewise convenient with Kuala Lumpur International Airport (KLIA) just 30 minutes away from Myra Putri.

Commuting distances are acceptable, and connectivity is assured to major highways and roads such as Projek Lebuhraya Utara Selatan (PLUS), Expressway Lingkaran Tengah (ELITE), Maju Expressway (MEX), Sistem Lingkaran Lebuhraya Kajang (SILK), Lebuhraya Kajang-Seremban (LEKAS), and many more to neighbouring mature neighbourhoods such as Bangi, Cyberjaya, Serdang, Dengkil, and onwards to the greater Kuala Lumpur City Centre district.

Nevertheless, the aim remains to challenge the often misunderstood notion of “affordable homes” and to set a new benchmark in the segment. This is evident in a design language that looks to create desirable living spaces while not neglecting key attributes of quality of workmanship that significantly improve the comfort levels of residents.

“Myra Putri is a true standout in its class. The interest generated thus far has been overwhelmingly positive, with inquiries pouring in on a daily basis for those eager to make Myra Putri their new home,” added Akil. “We are thrilled to see the positive impact it will have on the lives of the young families making the most significant purchase of their lifetimes here.”

As a result, the standard of affordable housing is elevated to rival that of even premium condominiums in the area and allows Myra Putri to truly embody “home is where the heart is” for enthusiastic new homebuyers, especially public servants seeking proximity to work amid an ideal backdrop for raising their children in a safe and nurturing environment.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can visit
http://www.myra.com.my
.

-End-

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Myra Partners with Livspace: making Your Dream House a Reality

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release: Myra Saujana- New Phase for A New Norm

Following the success of Phase 1 and Phase 2 that have been sold out, Myra Saujana by developer Myra is unveiling its Phase 3 which will encapsulate double-storey superlink homes and Semi-D homes located in Sungai Merab, Dengkil.

As a freehold mixed-use development, Myra Saujana provides 51 acres of residential phases that are significantly more affordable for homebuyers compared to the neighboring Putrajaya, which are more than double the price. In addition to the residential component, Myra Saujana also consists of 50 acres of commercial components, and has a combined gross development value (GDV) of about RM600 million.

Space and Flexibility in the New Norm

Myra Saujana’s Phase 3 will offer even more superlink and double-storey Semi-D homes that emphasise space, flexibility and convenience in meeting the demands of the new homebound lifestyle. With an expected completion date in 2023, Phase 3 has a gross development value (GDV) of RM 54,392,300.

In this latest phase, Myra Saujana will introduce 46 units of double-storey Superlink homes with built-ups of 2,130 sq ft and land size of 22’ x 70’. The home layout is a new concept that gives the superlink homes an aesthetic and vibe of a double-storey semi-D unit. All of its 4 bedrooms, that are spacious and functionally shaped, have 4 en-suite bathrooms. With a starting price of RM610,000, homebuyers can save on renovation costs with the ground floor fully-extended to the back, along with built-in windows for each area for natural lighting at every corner of the house.

More than that, Phase 3 will see the launch of two types of Semi-D homes; Type C and Type D.

Priced from RM890,000 onwards, the 12 units of Type C Semi-D homes have built-ups of 2,338 sq ft with the land size of 40’ x 65’. With its layout configuration of 4+1 bedrooms and 4 bathrooms, the spacious guest bedroom and a +1 bedroom on the ground floor can accommodate stay overs, or be converted into a home office or extra room. Type C also places emphasis on natural lighting through the presence of windows in each space within the house.

Type D boasts a special layout starting with the guest bedroom which is placed at the front of the home with an en-suite bathroom, granting both guests and family members the utmost privacy. Priced from RM957,870 onwards, the 8 units of Type D have large built-ups of 2,691 sq ft and land size of 40’ x 75’. It has a layout of 4+1 bedrooms and 5 bathrooms, along with a sizable entertainment area and open concept kitchen.

Adapting to the Ever-changing Needs of Homebuyers

As a pioneering developer, Myra has always taken a personalised approach of understanding their homebuyers in order to best know their needs in life. Hence, for Phase 3, information and feedback were gathered from Myra Saujana homebuyers who purchased Phase 1 and  2 in order to be adapted into the home designs in Phase 3, which provides more privacy to the residents in the house, an enhanced family area on the first floor, and also larger sized bedrooms.

As a result, every Phase 3 unit comes with family halls to ensure that residents have their own private space to relax without worrying about the guests downstairs. Types C and D also offer spacious master bedrooms that allow residents to opt for walk-in wardrobes, while the master toilet is equipped with a bathtub. Nature lovers will also enjoy the sizeable side and back garden spaces in Type C and Type D. With a kitchen that opens to a spacious backyard, homeowners can either make it a laundry area or convert it into a wet kitchen. Additionally, the car porch can impressively fit up to 3 cars.

“We have always prioritised building relationships with our customers rather than pushing out our products thoughtlessly. Homebuyers ultimately want homes that they find comfortable living in, making it our responsibility to get to know them better which helps us develop the right products,” said Wendy Lim, General Manager of Myra.

Alleviating Ownership Burdens through HouzKey

Myra Saujana homebuyers will get to enjoy the convenience of the HouzKey scheme with Maybank to enjoy numerous perks, including zero down payment, zero payment during construction, and also relish in paying much lower monthly installments for the first 5 years as compared to other mortgage loans, making it significantly more affordable for homebuyers.

In addition to unconventional approaches to innovating spaces and financing solutions, Myra also focuses on the accessibility and convenience aspects that cater to the lifestyle needs of growing families.

To ensure accessibility to neighbouring major towns, Myra Saujana is highly-accessible via the MEX Highway, KL-Seremban Highway, SKVE Highway, ELITE Highway, and Putrajaya Ring Road.

In terms of nearby amenities, Myra Saujana is in close proximity with schools (Sekolah Menengah Teknik Sepang and SK Desa Pinggiran Putra), shopping malls (Shaftsbury Square and Suria Mall Putrajaya) and healthcare facilities (Hospital Pakar An-Nur Hasanah and Serdang Hospital).

“As the recent pandemic has made homeownership even more challenging over the past year, a home is still a basic necessity in a balanced and fulfilling life. By innovating spaces that are spacious and flexible to address the new stay-at-home lifestyle, while also providing financing solutions, we hope to ease the home buying journey of potential homeowners,” Wendy noted.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit
 www.myra.com.my
.

-End of Press Release-

Love to be updated of investment news?
Sign up for KopiWeekly. (once per week for property, finance, investment news and more)

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Myra Alam- Terrace Homes with customizable space and lush backdrops

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release: Myra – From Ordinary Shoplot To Artistic Wall Mural

Property Developer Myra’s inspirational wall mural adds soul to Sepang post COVID-19

In the words of renowned artist Pablo Picasso, “Art washes away from the soul the dust of everyday life.” Property developer Myra lives up to this philosophy with a unique wall mural that adds colour and excitement to the everyday lives of Sepang residents and visitors, who are looking forward to moving on from the COVID-19 pandemic.

The idea of the artistic project began in March 2020, when the government implemented the Movement Control Order (MCO) to safeguard the lives of people across Malaysia. Understanding that life would not be the same, Myra believed in creating “new life”, and through the creation of the wall mural, aimed to enliven up the township of Sepang with touches of nature, life and vitality.

With the objective to help revive Sepang, Malaysia’s airport capital and the focal point of the airline industry, Myra believes the green and artistic wall is an uplifting project that will refresh the landscape of Sepang. Being the first stop for international visitors to Malaysia, Sepang is also a major landmark. Home to Malaysia’s F1 Sepang Circuit and KLIA, Sepang is also known for its small villages, plantations and the popular Bagan Lalang beach.  Myra’s wall mural is in line with the council’s initiative to promote the Visit Sepang campaign, which recently saw a revival, with the launching of wall murals at the BBST walk.

The shoplots, built by Myra to provide commercial conveniences to the residents, now also gives visitors the opportunity to appreciate the artwork in the form of a beautiful wall mural. Measuring 9.95 meters in height and 21.34m in width, the lively, bright and refreshing wall mural is an initiative by Myra, together with Sepang Municipal Council. Working closely with Members of Parliament of the area, Myra’s green wall mural has transformed the perception that alleys are dark and uninhabited to brightness, colour and vibrancy.

“The colours and greeneries were conceptualised with the intention to liven up the street. We hope to achieve awareness for this project and Sepang both as a major attraction of Selangor and as a place to settle in with your family. Sepang has come a long way throughout the years and as the main property developer in the area. We too had a part in the district’s growth which we are immensely proud of,” said Wendy Lim, General Manager of Myra.

A unique feature of the mural wall is the live plants – which grow because of the tender love and care that goes into them.  The different variety of live plants growing on the wall represents the concept that every life is different, and each has its own pace of growing and blooming. A reminder that we all have our own story and achievements that we should be proud of, the murals vines represent how life grows as time passes, bringing the ups and downs of life with it. The bud is also featured in the wall mural, which represents Myra, a budding developer amidst property giants. Lastly, the pink of the flower represents the soft approach Myra takes in facilitating the process of homebuying for homebuyers
.

Working alongside well-known landscape architect firm Rent-A-Pot, the artistic endeavour took three weeks to complete. The entire process was delayed due to multiple lockdowns that contributed to the shortage of materials and resources, with the additional problem of the steep cost of materials. However, the completed and refreshing wall mural now gives residents and visitors the chance to colour their own lives with meaning and move forward with life within the Sepang district, which is home to several developments including Myra’s newest developments; Myra Impian and Myra Cove.

Myra Impian in Nilai

 Myra Cove in Cyberjaya

Myra Impian, a mixed development built over 20.217 acres in the township of Nilai, provides practical, freehold homes tailored to individuals of different needs and the convenience of commercial facilities. Launched in Q4 2021, Myra Impian is a highly-anticipated addition to the matured and growing township. Comprising of 5 phases that encapsulate 2 serviced residences catered to young individuals, the township is designed in collaboration with VERITAS, one of Malaysia’s top architecture firms. All set to follow through with Myra’s successful track record of building self-sustaining townships, the development also addresses the needs of different home buyers. With 8 different layouts that boast flexibility and practicality, the units start from RM279,720 to RM585,900.

Myra’s other upcoming residential development in Cyberjaya, Myra Cove, comprises of 11 acres of freehold land with a mixture of high and low rise condominiums. To promote wellness and sustainability to potential homeowners of different lifestyles, Myra has partnered up with award-winning architect yhsA and land architect Praxcis with a design approach that focuses on affordable luxury. Upon completion, the development will offer units ranging from 872 sq ft – 2,067 sq ft, along with 14 unique floor plans designed to fulfil the needs of different lifestyles. The units are priced from RM454,800 to RM896,500.

“In line with Myra’s focus on considering the lifestyle and wellness needs of our residents, we believe in creating avenues for our home buyers to live life to the fullest, especially after the devastating effects of the COVID-19 pandemic. Whether large families or city lovers looking for a more balanced lifestyle, we will continue to provide the community with opportunities to grow and build happy homes within the community,” added Lim.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram and Twitter. For more information, visit
www.myra.com.my

-End Of Press Release-

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Myra Cyberjaya- The Latest Residential Haven in A Progressive Tech Enclave

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release:   Myra – Taking the Risk for the Future of Property

It’s not a secret that buying a home for the very first time is an anxious and daunting experience as it involves your hard-earned money and savings. After signing off on the papers, it becomes a life-long commitment that leaves us a little tense and breathless. Yet, most property developers are enthusiastic about securing sales rather than providing a positive and nurturing experience for their customers.

While other developers are focused on a safer market audience with higher purchasing power, pioneering developer Myra is making it their mission to provide an easy home buying journey for first-timers and providing a well-informed and smooth purchasing experience. Myra certainly believes that this is a risk worth taking in the organization’s pipeline.

“If every developer wants to play it safe, then who is going to care for the people who truly need it the most?” asks Wendy Lim, General Manager of Sales and Marketing of Myra. “We see Gen X as a generation that is mainly a part of the investor market, causing many other developers to build properties that first-timers are not able to afford.”

Myra’s efforts to make a difference in the industry by educating and building homes that are catered towards first-timers have been fruitful as 65% of their homebuyers are first-timers. She has adopted an unconventional strategy that’s based on trust, reliability, with an experience that’s fun. Although buying a home is a rite of passage into adulthood, learning the ins-and-outs of the process is not the most entertaining of conversations and one that is definitely not spoken of as much as it should be. This explains why so many people encounter hardships while doing it.

For that, Myra has a persona that’s able to dish out property insight and advice in the simplest of terms so that others are able to understand and engage with her as she is someone whom anyone can have a comfortable conversation with.

Myra wants to develop a relationship with her customers and with her visual and verbal direction that’s both casual, conversational, and personal. The choice of color, design, tone, narrative, and style was aimed for Myra to have a balance of being trustworthy and fun while telling relatable homeownership stories that are educational and entertaining.

A prominent aspect of Myra’s branding are the quirky graphics that are sure to catch the audience’s attention and maintain engagement even when unfamiliar facts come their way. With a great mix of an exciting, young, and bold persona, Myra is the go-to resource on all things homeownership. After all, being a property developer that everyone can openly talk to and get advice from is a barrier that Myra wants to overcome. While there are currently no other developers who are using a similar direction, more and more have begun to lean towards educating the public further on things related to homeownership.

“We think that it’s great that other developers are doing so as it is a responsibility our industry has overlooked somewhat in recent times. Public education is meaningful, valuable, and most importantly, helpful. That’s why we are committing to being transparent and educational on every aspect of homeownership as a means to our purpose which is to make it as easy as possible for everyone,” said Wendy Lim.

With digitization and technology becoming more crucial at the turn of the decade, Myra is aware of its importance in connecting with a highly digital-centric and young audience. Due to the Covid-19 pandemic, Myra had taken extra steps to further digitize their consultation processes including taking customers through virtual tours of show units, routes, and roads around town. Even the bookings, loan applications, and Sales and Purchase Agreement signing processes can be done online without hassle.

While smart technology and modern features are attractive to buyers, Myra prioritizes value by giving her buyers features that are more practical. At the end of the day, the needs of the market vary from different individuals and different groups. To provide the perfect balance, Myra focuses on relevance and practicality that’s intended for the market.

“Eventually, adding in features that aren’t practical hurts our home buyers more than anything, especially from a cost and maintenance point of view. That’s why we plan our products with our target market in mind and take these ideas into serious consideration,” she added.

Myra definitely has big plans to improve their game further by going forward with digital as their primary channel. The advancements made are rooted in practicality, ease of use, and meaningful experiences for their buyers.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information visit
www.myra.com.my
.

-End of Press Release-

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market. Else,
follow me on Twitter here.

Next suggested article:
Myra: Caring for its homebuyers and doing its part

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


20th anniversary, thus 20 percent discount!

20 percent discount for new property developments in Kuching? Okay, not every single one of them but only for one developer which is celebrating it’s 20th anniversary. Naim Group of Companies (Naim) is offering once-in-a-lifetime discounts of up to 20 per cent for selected property units until Nov 5 to mark its 20th anniversary. The discounts are applicable for selected units in Kuching Paragon, Bandar Baru Permyjaya, Miri and Bintulu Paragon. Before everyone now shouting, how could this be when the typical net margin for the listed developers are below 20 percent? Well, it’s applicable for selected units and if there are more interest compared to offered units, balloting would be done.

Just logon to the respective development’s websites for registration before 5th November. According to the developer, they have received an overwhelming response ever since the news of this unbelievable discount went out. It’s the first time they are doing this in conjunction with their 20th anniversary. For a further breakdown of this discount, the maximum 20 percent discount is for cash buyers while non-cash buyers would be getting up to 10 percent discount. Both are subjected to further terms and conditions. The results for the promotion would be announced on Nov 14.

I think one of Naim’s most prominent project currently would have to be the Kuching Paragon condominium project Sapphire On The Park. This project is expected to be completed in 2017 and it has a 50-metre Olympic-sizes SALTWATER pool. Yes, it’s saltwater. I think the buoyancy level is definitely better too and if you are a competitive swimmer, it meant faster times. The condo has a facilities floor which besides the pool includes a function room, indoor gym, sauna, barbecue pit and open lounge too. The size of the facilities floor is nearly two acres; 72,000 sq ft.

For those who are interested, do google for their projects, visit the site or call them about it. No harm knowing more. As for my personal intention, I think I better get ready some cash for their 30th anniversary in future. 🙂

written on 20 Oct 2015

Next suggested article:
If its really that negative, is it not time to be positive?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Nano flats are wrong. BUT.

The median prices for KL homes as at end 2016 is RM620,000. This is for units within the city centre and it is almost similar to the prices for Georgetown. Do note that this is for city centre. There are certainly areas outside the city centre which is cheaper and I think one main reason for Georgetown’s similar price is also due to the shortage of such units. Penang island is still, just an island. So, affordability should be based on median incomes and if these median incomes do not rise faster than house prices, then the affordability gets worse. Please
do not rely on yearly increments yeah.

Do more, get better and either get promoted within the company or outside the company. Would affordability worsen then? I think the answer should be how far it would worsen before the ceiling is reached and developers start to build SMALLER. This is the only way to maintain affordability. One city has reached a critical level. Its homes are now below 180 sq ft; Hong Kong.

Hong Kong’s flats, the newer ones could be as small as 161 sq ft, or

just about enough to park a TESLA.

They are not priced that low, usually HK$3 million or higher (RM1.5million) By the way, even with just one Tesla parked inside the flat, remember not to open the doors to the TESLA though. Is this healthy? Frankly, I do not think so, regardless of how the tiny little flat can still be very useful. This is what the 3rd richest man in Hong Kong said about these tiny flats, also known as nano flats. He is Lui Che-woo, the property and casino magnate of K Wah Group. According to him, homes have to be at least 300-400 square feet for healthy living. He also shared this when asked about home prices. “With the mainland’s 1.4 billion population and the growth of the Greater Bay Area, there’s so much money coming in that it’s hard for prices to drop.” Please do read the
full article in South China Morning Post here.

Even in Klang Valley, homes are becoming smaller for all categories of homes. Bigger properties would become a rare occurrence in future. From homes that could easily park two segment D cars and still have space to open both the doors, we are now looking at 18 x 65 units. From over 1,000 sq ft high-rise units, these days
most of the affordable ones are sub 900 sq ft.

In fact there are already many sub 600 sq ft units which are dual-key. Many people would tell me that lifestyle is changing. My question remains the same, if you are the buyer and have a choice of 1,000 sq ft vs 500 sq ft, similar locations, which one would you choose. In fact, you can even ask developers if they love to build and sell 1,000 units versus building and selling just 500 units… 🙂  Seriously, affordability has kicked in. Let’s
not hope for double digit growth in property prices

because it may just crash the whole market.  Imagine a RM500,000 home this year going up by RM50,000 per year? Haha. You get the idea… Happy understanding.

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market.

written on 25 Jan 2018

Next suggested article:
New condo is close to my boyfriend’s office but not mine

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release: National Budget 2021 Wish List for the Property Market by iProperty.com.my

On behalf of iProperty.com.my, Malaysia’s No.1 property site, we would like to share our thoughts in conjunction with the upcoming Budget 2021 announcement. iProperty.com.my’s wishlist for the upcoming National Budget 2021 scheduled to be tabled in November 2020 are as follows:

To further rejuvenate the local property sector, we hope the government could consider reducing the stamp duty tax for first-time homebuyers after the end of the current Home Ownership Campaign on 31 May 2021. A stamp duty reduction is essential to help young Malaysians get on the property ladder. On the same note, stamp duty tax could be extended to the secondary market which will further provide opportunity for property seekers to explore subsale properties.

Photo by bongkarn thanyakij on
Pexels.com

We hope the government will review policies and introduce supplementary measures to encourage homeownership among young people. For instance, tax relief for home loan interest incurred by first-time house buyers should be re-introduced to further encourage homeownership among young people. The earlier that a homebuyer gets onto the property ladder, the more time they have to benefit from capital appreciation of their properties.

The full exemption of Real Property Gains Tax (RPGT) that was announced under the PENJANA package is greatly welcomed. At the moment, the exemption is limited to the disposal of three units of residential homes per individual. We hope the new budget will improve on the existing RPGT initiative by removing or loosening the limitation of disposal units per individual to encourage more confidence in property sellers. This will help to stimulate more transactions and encourage sellers to pass on the savings from the exemption to the buyers.

Another factor that could stimulate the local property market is investments from foreign buyers. With this in mind, we hope budget 2021 will quickly revive the Malaysia My Second Home (MM2H) programme to help encourage foreign homebuyers to invest into the local property market. In addition, the application process could be made more streamlined and investor-friendly to encourage more foreign buyers. Even though the MM2H programme only encompasses a relatively small number out of the total homebuyers in Malaysia, it is an important driver of foreign buyer demand. Furthermore, the MM2H programme could help in reducing the property overhang and the supply of unsold units in the secondary market.

One other initiative that we would like to see is rental incentives. The sense of uncertainty brought about by COVID-19 might see more people preferring to rent than buying a house. As more people are working from home, the need to have a comfortable and conducive living environment is now more important than ever. Renting provides an opportunity for people to save on accommodation costs in the short term. For example, the government could introduce an initiative that provides incentives to first-time and seasoned renters. On the other hand, homeowners who are finding it difficult to sell during these times could consider renting if the right incentive is in place. This type of initiative gives them benefits for renting. For example, earlier this year the government introduced tax deductions to landlords who provide discounts on rental rates.

— End of Press Release —

If you also have your thoughts, feel free to send it in to us yeah.  We will turn it into an article and share with everyone.

Love to be updated on all investment news?
Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Do you want a high or low inflation? I wish for more time

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Home Ownership Campaign 2019: Sabah Sector

Press Release by Sabah Housing and Real Estate Developers Association (SHAREDA)

Speech by Mr. Chew Sang Hai, SHAREDA President.

2018 has been a challenging year for everyone. The real estate sector in particular has experienced one of the hardest hit seen in the last decade. In fact Malaysia is not the only country as such phenomenon was also seen in major cities around the region such as Sydney and Hong Kong.

In Malaysia, the real estate market has been stagnant in the last few years, particularly in 2018 due to the election. This resulted in people adopting a ‘wait-and-see’ attitude. Before the election, everyone was uncertain of the situation and as such investments were put on hold. However, when the election was finally over and despite the victory of the present Pakatan Harapan government, the market did not pick up as fast as expected. People were still waiting to see the new changes and policies to be introduced by the newly elected government.

As the days unfold, we are very glad to see the action initiated by the government to fulfill its manifesto and promote economic activities in the country. SHAREDA, REHDA and SHEDA are supportive and progresses in line with the government’s vision to reinstate Malaysia’s economic strength.

SHAREDA, together with REHDA and SHEDA have taken a pro-active approach to revilatize the real estate industry by proposing to the government to reintroduce the National Home Ownership Campaign which was first promoted in 1998. I must say that all associations and their members are very thankful that the federal and state government has adopted our proposal.

After multiple rounds of meeting with the federal government and Ministry of Finance, a series of incentives were introduced for the benefits of home buyers, they are:

100% Stamp Duty Exemption on instrument of transfer for a residential property valued from RM300,001 up to RM 1 million
3% Stamp Duty applicable on instrument of transfer for a residential property value between RM1,000,001 to RM2.5 million
100% Stamp Duty Exemption on loan documents for a residential property valued up to RM2.5 million
The above benefits are opened to ALL Malaysians (not just first-time buyers)
Minimum 10% discount (from APDL approved price) offered by the developers.

The above mentioned incentives are clear indications of the federal and state government’s determination to reinstate confidence into the market and improve the livelihood of the RAKYAT by making home ownership easier for them.

LIVE feed from KL’s HOC 2019 opening ceremony.

I must say, having been in the industry for more than 3 decades, I have never seen such good offer for homebuyers. There is tremendous saving if anyone buys a property during the Home Ownership Campaign period which lasts from January – June 2019. Best of all, this is NOT limited to first time home buyers, the benefits can be enjoyed by every Malaysian, including investors who have multiple properties. This is simply Property Mega Sales!

In line with the campaign, SHAREDA encourages all members to join in the movement and take advantage of the campaign.Even though the campaign is not applicable to non-residential projects, we encourage those developers of commercial and industrial projects to offer similar incentives on their own accord in order to promote sales.

While the Home Ownership Campaign incentives are attractive, SHAREDA members still face a huge challenge when it comes to offering significant discount as Sabah is one of the only 2 states in the country where a profit cap is imposed on developers. We will continue to work with the state government on this and we sincerely hope that the profit cap can be lifted, just like our counterparts in other states.

Having said that, on behalf of all SHAREDA members, we would like to express out utmost gratitude towards all relevant ministries,the state and federal government for their effort in reintroducing the National Home Ownership Campaign. The campaign does not only benefit the real estate industry but everyone in the country, making home ownership possible for many.

opening ceremony

To all home buyers and investors, I encourage you to visit our expo from 1st – 3rd March here in Dewan Foo Chow to learn how you can benefit from the campaign, and what are the incentives. There will be talks on buying your first home and over 30 projects to look at. Don’t miss this once in a lifetime chance. I hope everyone can take advantage fo the savings and I wish you all happy shopping.

— end of press release —

Next suggested article:
National Housing Policy

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Housing Policy 2.0 can do with some tweaks.

Do you know there’s such a thing called the National Housing Policy 2.0? Hopefully readers of kopiandproperty.com do. 😛
National Housing Policy 2.0 (article here) was
unveiled to the public last month. I think all policies are as good as the team and the time it was completed. With more views from other experts as well as passing time, perhaps it may need some tweaking too. Purpose is simple, to benefit Malaysians in need of a home sweet home so that they are not left behind. Without a property, it may be poverty. Earlier article here:
Own a property, escape poverty

Article in Edgeprop.my here
 Sarkunan Subramaniam, Knight Frank Malaysia’s managing director said that the National Housing Policy 2.0 is a good plan but needs more research. Initiatives by many parties to make housing more accessible and affordable are greatly appreciated but some need improvements. For example, the Rent-To-Own scheme enables buyers to rent their homes for five years before applying for end-financing in the following year. “We note that in order to prevent speculation, these houses under RTO can only be resold to the ministry. Whilst we understand that
KPKT wants to prevent speculation but it is not advisable to have direct government intervention through purchasing of the homes. He added, “To curb speculation, taxation mechanisms such as the Real Property Gains Tax (RPGT) and stamp duties are good enough.” Sarkunan also said, “Whilst land is a state matter, the federal government should streamline the quota and the release mechanism in all states. For example, the situation in Johor where the Bumi quota is 40%, the slow release is choking developers’ cashflow.”
Article in Edgeprop.my here

I also disagree that the RTO homes are resold to the ministry unless of course the whole process is extremely efficient. Else, it should be directly sold to the qualified buyers who has already applied and approved by KPKT for example. There is really no need to add another layer because control could be within the process itself. By the way, after the RTO homes are sold to the ministry, could the process be shared transparently to all so that we are aware what happens after that? National Housing Plan 2.0 should take more views into its consideration too. Perhaps even prominent real estate bloggers who are independent could also be invited too for this session. 😛  Happy following and hopefully this year we will see many deserving Malaysians own a home sweet home.

LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market.

Article written and edited by Charles.  News article summarised by Dina Batrisyia.

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Housing Policy: What’s the focus?

When it comes to the property market, the
4Ps (People, Price, Policy and Preference)
will always be in focus. When the issue is a national one, then the P (Policy) comes into focus. This is the only way to get both the public and private sector to work together for the benefit of many. National Housing Policy (DRN) is thus that policy. Introduced in 1957, the National Housing Policy has been reviewed four times over the years to focus on different challenges from time to time. It has now been reviewed for the current challenge of helping Malaysians own a roof over their heads without breaking their pockets.

Article in Edgeprop.my here.
  According to the Housing and Local Government Ministry (KPKT), it has worked hard for the past 4 months to come up with the National Housing Policy (Dasar Perumahan Negara) 2018–2025. B40 (bottom 40% income group) will be a main focus for the policy for the next 5 years.  Several initiatives will help this group such as the National Home Ownership Campaign, National Community Policy (aimed at improving the living environment of low cost housing residents) and National Affordable Housing Council which is chaired by Prime Minister Tun Dr Mahathir Mohamad. The policy will focus on solving the country’s supply and demand mismatch problem and help low income earners to own a home.

KPKT minister Zuraida Kamaruddin revealed that one of the most effective way is the Rent-to-Own (RTO) scheme offering buyers the option to rent their home for five years and apply for end-financing to purchase it in the sixth year. She said, “Through RTO, the low income earners could build up their credit scores as they have to pay rental every month. When it comes to the sixth year, the payment record could be one of the supporting documents [to reinforce] their credibility to apply for a mortgage.” (Yes, I agree too, instead of making some of these low income earners get a mortgage which they may not actually qualify for.
Let’s keep home buyers at the prime level yeah.
)

Beyond that, she shared that KPKT will also start to research and review the Build-then-sell policy this year, which could reduce the risk to property buyers. There is also now a clear guideline for developers under the Affordable Housing Policy. This is to ensure quality affordable homes for the B40 group. The specifications include built-ups of not less than 900 sq ft and types of facilities and infrastructure that need to be included in the development. There will also be focus on improving the living environment of the residents in low-cost public housing via National Community Policy which involves the private sector to create a healthy and vibrant community with various social building programs. Zuraida also said that with a clear direction under the National Housing Policy, the Pakatan Harapan government is confident it will achieve its target of offering one million homes to Malaysian over two terms of governing. She shared that she was confident that within 2019, a total of 100,000 affordable homes could be built as well as offered under the RTO programme.
Article in Edgeprop.my here.

As a concerned Malaysian, I will continue to follow the development as well as progress of the DRN and report to all yeah. I do think many of those currently staying in units which are lesser than favourable condition today will opt for these new units or the RTO programme too. Thus, perhaps there should also be a focus as well as approved budget on how to make the current low cost homes become even more liveable. Perhaps the ministry could start identifying these older developments (low cost / affordable) and ensure more Malaysians benefit from it too. I seriously believe that when both (older and building new) are in focus, then more Malaysians would benefit and not just those who are going to buy / move into those built this year. Perhaps someone from KPKT should read this article too. Happy understanding.

written on 29 Jan 2019

Next suggested article:
To reduce unsold units, stop building unaffordable ones

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Housing Policy – social renting, private renting and ownership

It’s very important for the government to have programmes for the B40 households. If this household  really could not yet afford paying for a home via mortgages, then getting them to pay the lowest rental possible is necessary. The reason is because once people pay too high rentals, they have no savings for future. In the current market, whether the B40 or the M40 households, they may be renting properties they could never afford in the first place (renters market currently) Once they get too comfortable, they will continue paying high rentals without understanding that they are going to be locked out from owning a property regardless of how long they rent. Here’s an earlier article:
Renting is fine. Make plans to get your own.
 I am glad that perhaps the National Housing Policy addresses this concern.

The National Housing Policy has been approved by the Malaysian Cabinet. National Housing Department director-general N. Jayaselan, said that the main thrust is the separation of public and private housing, with an emphasis on renting. He said, “We have put forward a Public Housing Management Act, for example, because we think the management of public housing will be a huge bombshell. So the issue today is more than just whether a buyer has the capability to pay the downpayment of a house. It is also whether he can finance the loan and whether he can pay for the house’s monthly maintenance.”
Article in TheStar here.

Jayaselan said the government will be promoting “social renting” where the tenant first rent public housing before moving into what he calls “social ownership” of public housing and over a period of time, if affordability and his savings permit, he then moves into “private renting. And here is where private housing by private developers come in and the next step-up for him is “private ownership.” The government hopes to guide the person about these ratio; rent-to-income ratio, median house price-to-income ratio and the last being mortgage repayment-to-income ratio. As for the housing, it must come with quality. At whatever price, it has to have quality. Thus, there will be some standardisation.
Article in TheStar here.

Happy understanding and let’s hope to hear more on the implementation of the National Housing Policy here in Malaysia.

written on 23 Nov 2018

Next suggested article:
Renting is not the end of the world. Maybe a good option.

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Recovery Plan: Next to open is cinemas. 98 percent of staffs vaccinated.

I watched move at cinema just before current lockdown

I was one of the few who visited the cinemas when it was allowed to reopen before the current lockdown and restrictions. To me, as long as the SOPs are adhered to and ONLY the vaccinated are allowed, I would go to the cinema again. However, I will personally report them if they lax on the checking whether the person is vaccinated or just trying their luck.

Cinemas may be opening

There is one latest news about cinemas reopening in October / November. In fact, the good news is that 98 percent of the employees for this cinema group; Golden Screen Cinemas are vaccinated. I am sure by October / November it will be 100%. Let’s not take any chances yeah.

Fully vaccinated does not guarantee non-infection but it protects against hospitalisation or the potential for ICU admission. The unvaccinated ones are a high risk. Not just to the person but to everyone else too. I am also watching to see what happens to the teachers who refused to be vaccinated. I do not wish for them to teach my kids too.

Article in themalaysianreserve.com
   PPB head of corporate affairs and GSC CEO Koh Mei Lee said, “Currently, we are only allowed to open when the country moves to Phase 4 and we hope that we can operate by October or late November, as 98% of our employees are fully vaccinated and ready to begin operations with stringent standard operating procedures.”

Koh said that GSC will be rebranding its business and undertake minimal changes to MBO cinemas acquired while keeping its major renovation for all of its 17 locations once the industry recovers. GSC acquired majority of cinema assets from the MBO chain in March 2021. Koh added, “During this period, we have gone online for our products such as food and beverages (F&B) and GSC’s merchandise to contribute to our business revenue.” Please do read the article in full here:
Article in themalaysianreserve.com

Would you be watching a movie if the cinema reopens?

Yes, I would but this time, I do not intend to rush to the cinema so soon. Let’s just see if Covid-19 is under control and vaccinations for all states are at least 60 percent while Selangor and KL has reached over 80 percent first. What I do know is that I will have to live with Covid-19 just like how flu has become endemic and is not leaving us anytime soon.

Would I go the malls even if I am not going to the cinemas?

I have been to 1Utama a few times to buy food, groceries and even the telecommunications centre too.  As long as all the SOPs are followed (by the way 1Utama is even more worried if they do not follow because once they have to close, it will be for 14 days.) so that they (1Utama) can continue to slowly attract more visitors. These days, there are few people except for the supermarkets. Those are still frequented but of course the number is way smaller than previously.

Take care.

Love news like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
Riskier to open for dine-in. Actually quite true

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Recovery Plan? Just one most important thing. Just do it.

National Recovery Plan has just been announced by Prime Minister Tan Sri Muhyiddin Yassin. Image right at the bottom or at the top. The image below shows all the different phases from June which is Phase 1 all the way to Phase 4 which is expected to end in December 2021. We expect COVID-19 cases to continue on a downtrend and will be below 4,000 new cases per day within July followed by below 2,000 cases towards August and hopefully by October, we will have less than 500 new cases per day.

VACCINATION is the KEY

“You may still get COVID-19 even if you are vaccinated.” I was told this in the briefing just before I was jabbed with AstraZeneca on 22nd May 2021. My experience here:
My experience and what to expect.
 However, I was also informed that after getting jabbed, if I ever do get infected, then the chance of me going to ICU is close to none. This is why vaccination is really the key to the whole National Recovery Plan. This is also why USA, UK and many other European nations who has HUGE supply of vaccines and have vaccinated enough of their population has started opening up. For most countries, vaccination remains slow and they are waiting for the vaccine donations. Sigh…

Stop all the Bxxxxxxt.

Come on, whoever told you that Pfizer is better must also note that most people in the UK was given AstraZeneca. Whoever told you that AstraZeneca has very small bloodclot potential should also tell you about the heart issue potential with Pfizer too. If they did not, then they are just trying to be very selective with what they want to hear. That’s all. Also, they should share with you that after taking 1st jab of AstraZeneca, 96% of everyone builds up sufficient antibody after 28-34 days.
Click here to read an article in TheGuardian.com
 It’s NOT fake news like what goes viral in Whatsapp and does not have any stated info source…

At the very least, they should tell you that with a COVID-19 vaccine jab, any one approved by World Health Organisation is WAY BETTER than without any jab. With a jab, you can get infected and still hospitalised. Without a jab, you can get infected and has a 0.6% to die if based on Malaysia’s latest fatality rate (14th June 2021) versus 3 times higher for even the most powerful nation in the world.

Happy understanding that even though getting a vaccination is a super small thing. it is a responsibility for all Malaysians.  Cheers.

Love article like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
Most liveable city and effects from COVID 19

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


National Recovery Plan latest update. Travel further is possible!

Do not wish to write too long. Posters tell more than just writing. Briefly, we can travel even to the beach as long as the beach is inside the same state and at the same time, remember to stay safe by following SOPs.

I disagree to any relaxation which involves not wearing mask in public places. Let’s not follow those advanced nations who think that they are immune just because vaccinations are high. By the way, Malaysia is already higher than the country with the biggest economy which mask is no longer necessary in many places. Wear your mask please.

Info:
https://ourworldindata.org/covid-vaccinations

Love news like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
Covid-19 vaccination. Your right and my right. Who’s right?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Press Release: National Residential Property Prices to Recover from Coronavirus, Climb 8.6% by 2021: Industry survey by Juwai IQI

National residential property prices will stall this year with just a 1.1% rise before climbing again next year to 8.6% above current levels by 2021, according to a new nationwide survey of the real estate industry by Juwai IQI. Meanwhile, at least one agent has sold seven new apartments to buyers online, sight unseen.

Juwai IQI conducted its “Q1 2020 Property Index and Survey – Malaysia” from 7 February to 18 March 2020, More than 340 Malaysian real estate agents from across the country participated. The Property Index and Survey tracks the evolution of industry expectations for prices, rentals, and market activity and first launched in Q4 2019.

The Q1 2020 Property Index and Survey also revealed:

When it comes to residential rental rates, agents predict an average 1.7% increase through the end of 2020 and an increase of 7.1% by January 2022.
First-time buyers made 30% of nationwide new home sales transactions in Q4 2019 — significantly more than any other buyer group. The subsale or secondary home market in Q4 2019 was led by first-time local buyers and local upgrade buyers. The two groups each accounted for 27% of subsale purchases in the period.
When it comes to predictions of transaction growth during the remainder of 2020, 61% of agents expect first-time local buyers to conduct more transactions in 2020 than in 2019, and 55% of agents expect foreign buyers to conduct more transactions in 2020 than in 2019.
With the impact of the Coronavirus epidemic on the market, Malaysia will see greater use of online tools to facilitate the marketing, research, and purchasing of real estate. Some of these tools, such as virtual reality, 3D rendering, and livestreaming, are already available but will be used much more widely than in the past.

Agent Sells 7 Klang Valley Units Online
Despite the quarantine, IQI real estate agent Joel Low believes buyers in Malaysia still want to purchase property in Kuala Lumpur and Selangor.

Low said, “We used digital platforms to showcase the latest property developments around the Klang Valley. At an online private preview last week, buyers purchased seven properties, priced from RM300,000 onwards. The buyers never visited the properties in person.

“These investors are looking for good cash-flow generating investments. Property developers such as Exsim are offering attractive promotions on new developments, making this an opportunity the buyers felt was too good to pass up.”

Kashif Ansari, Group Executive Director of Juwai IQI, said:
“The number of transactions is down due to the movement control order, which is freezing prices in place. The industry is optimistic however about a post-pandemic recovery and expect residential prices to rise by 8.6% by 2021.

“Amidst all the uncertainty, property is viewed as a relatively safe investment that can provide cash flow. Bank Negara Malaysia’s moratorium on the payment of interest and principal for credit facilities has provided some relief to property owners. The Bank’s move has helped reduce possible pressure on the real estate market. It is one factor in the positive forecast for 2020.”

Rental Rates Growth to Restart in 2020
The survey also revealed that agents nationwide predict an average 1.7% increase in residential rental yields through the end of 2020.

Ansari said, “The findings showed that Sarawak has the highest forecast rental growth at 5.4% in 2020. Penang has the most negative forecast, with rental rates there expected to fall by 5.8% in 2020. But looking forward two years, agents are more confident about rental rates. Nationwide, agents expect rental rates to climb by 7.1% by January 2022.”

Sarawak and Kuala Lumpur and Selangor have the strongest two-year forecast for rental rates. In both submarkets, agents forecast that rents will climb by 7.9% through the end of 2021. Penang has the weakest forecast, with rental rates expected to climb 3.8% through 2021.

More First Time Buyers
Ansari said, “When it comes to nationwide new home sales, first-time buyers made 30% of the transactions in Q4 2019. That is 5 points to 9 points greater than any other by a group. Local investors made 25% of nationwide transactions, local upgrade buyers made 24% of transactions, and foreign buyers made 21% of transactions.”

The findings showed that local buyers accounted for the greatest share of new home sales in Penang, were they accounted for 37% of purchases. In Kuala Lumpur and Selangor, they accounted for 32% of transactions.

The state where foreign buyers accounted for their greatest share of new home purchases was Johor. In Johor, foreign buyers purchased one of every four new homes sold.

First-time local buyers and local upgrade buyers lead the subsale or secondary home market in Q4 2019. The two groups each accounted for 27% of subsale purchases in the fourth quarter of 2019. Local investors were close behind at 26%. Foreign buyers made 21% of nationwide sub sale purchases.

Outlook and Forecast
Ansari said, “Malaysia’s real estate remains attractive to foreign buyers due to its strategic location. Its close proximity to countries such as Japan, China, Hong Kong and Singapore, which are the world’s largest cross-border property buyers, makes it even more appealing.

“For investors and first time home buyers, now is definitely a good time to consider getting into the market, as there are attractive discounts offered by developers.”

— End of Press Release —

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market. Else,
follow me on Twitter here.

Next suggested article:
Budget 2020 on people, growth

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


The start of MRT and the rise of properties prices nearby

MRT Sungai Buloh-Kajang (Phase 1 of Line 1) has started. It’s 51km in total length with 31 stations. What are we going to do about it? Well, perhaps take advantage of the free ride for one month? Too bad, it’s not yet fully connected to the LRT so that it can bring me to the city centre. However, for those who does not yet own their first property, this is a good time to scout for homes nearby the MRT stations. No, not just Line 1 but also the
MRT Sungai Buloh- Serdang – Putrajaya (Line 2).

Some property experts were quoted in a recent MRT related article predicting the rise in property prices along the MRT Line 1. Read the full article in
freemalaysiatoday
 or a brief below.

National House Buyers Association secretary-general Chang Kim Loong said, “Property owners stand to enjoy the higher capital appreciation that comes with enhanced connectivity.” His advice, “Buy from developers who have good track records and strong financial positions” He also mentioned that buyers should think about buying in areas less congested.
(He did not mention the actual area but I think he meant less popular areas today)

Auctioneer Suresh M said properties within 5 minutes to any MRT station should gradually increase in value. He said, “Even before the launch of the MRT, developers had already started using the project as a marketing point to sell their properties.” He also mentioned that areas with established commercial areas would fetch higher prices. For example, Mutiara Damansara, Kota Damansara and Bandar Utama. these locations have shopping centres, office blocks and other amenities and thus they are more attractive to potential house buyers.
(I agree these are good and established areas but there is little need to only focus on these areas. It’s the best time to expand the acceptable areas with new MRT stations)

Times are really slow according to everyone I know even though most people I know are still eating lunches which are easily double the price I usually pay for my lunch. Here:
Eating cheaper is still possible, depends on us actually

To be honest, there are only two real choices depending on what we believe in. Times are getting worse, better save every ringgit you have. “Winter” is coming. To those who believe times are ripe for opportunities, better stop doing non-value added stuffs such as hanging around cafes. Viewing properties may be a better choice instead. I believe the positive but unfortunately, I am just a working professional. I need time to save bullets. Haha. Happy riding the MRT.

written on 18 Dec 2016

Next suggested article:
Buying nearby cemeteries, what should we worry more?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Necessity versus necessary or perhaps even better, priority.

I was at Aeon Ipoh today. Tried many long sleeve shirts and was really tempted to buy one or two more. After all, I would be wearing them as office wear so it’s not going to be left inside the closet. Okay, the main reason was because I managed to shed 7.5kg within past 4.5 months.  I could now wear M size. Waist is now 30/31 inch. I did not buy however, in the end. I suddenly remembered that just before Chinese New Year, I bought four new long sleeve shirts (all slim-fit) and a few months before that, I bought four other long sleeve shirts as well (all easy-care). Okay, I have worn all these 8 new shirts at least three times each. So, it boils down to how many shirts do I really need anyway?! Haha. Actually, just 4 new long sleeve shirts, if bought without discounts would be over RM400. Perhaps better to spend on my family instead this time. Agree with me?

With over RM400, it’s nearly possible to save it and go to Morib Gold Coast resort for 2 nights holiday with my kids. (refer image) Both of them love the sand, sea and waterpark. It’s also near enough to just drop by after work Friday evening. (Around an hour from KL) That made me think. Necessity, necessary or now it’s due to priority? I think for many with families, it is now mostly due to priority. Without new shirts, I would still look fine. With that holiday, the family bonding would be better and my wife gets to take a break from going ‘crazy’ when both kids fight with one another every now and then. I have also recently switched from a nearly RM100 broadband package down to just RM30. I do not need that much data lah. Just needed it to write my blog anyway. 🙂  Was asking my wife if we should even switch our current Astro package to just NJOI and save over 50% from our usual monthly subscription. She said, ‘next year.’

Oh yeah, I belong to the generation where rice plus gravy is already a delight. An egg is a plus! As at today, eating cheaper is still a possibility. Huge pack of fried beehoon (vermicelli) plus an egg is just RM1.50 at a stall nearby my office today. Else, refer to some options here:
Eating cheaper is still possible, depends on us actually

I read an article somewhere before that if we really save only on food but without compromising on quality, it’s possible to save a few thousand ringgit per year! Well, based on RM10 / meal x 3 per day x 365 days, it would be around RM11,000. If I eat the fried bee soon and the RM6 fried rice and eat at home for my dinner, I think it would come to about RM18 per day, saving me RM12 per day. RM12 x 365 days = RM4,380 of SAVINGS per year. Sometimes, we really do need to take a step back. Is it necessary or necessity? With a family like me, is it really a priority? Happy saving because it really matters.

written on 23 March 2017

Next suggested article:
Planning and investing for you and your family

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


We will always need a home. It’s just whether we own it or ‘borrowed’ it.

Does everyone need a home?

I still believe everyone should own at least that home which they are staying. At least, when they grow old, they would always have a place to stay. It’s sad to keep paying rental to the owner even when our own income stops. It’s also sad if the owner tells us that they are selling the place we were renting and we have to move. I mean, after staying there for the past 20 years and now we are asked to move away from everything we are so familiar with?

What about a place which was ‘borrowed’ for a very long time and now the owner of the land wanted to do something to it? How much rights do these ‘original’ have over the land which they have been staying? What about the right of the owner of the land? How much should the compensation be? What would be considered a fair deal to both parties? Here’s one such case which was recently reported in the media.

Article in nst.com.my
 Kampung Pee; is a 60-year old village and recently the owner of the land is asking the residents to move out. The village has 126 families and its village head A.Deva said that the residents want the Kuala Lumpur City Hall (DBKL) to consider allocating them houses under the People’s Housing Project (PPR). He said, “We appeal to DBKL to help us. We don’t mind being placed in any PPR, either in Bukit Jalil, Jalan Peel or Pudu Ulu.”

The developer had offered the residents RM15,000 to move out. He said, “Most of us are senior citizens. We have been living here for decades, where can we go if no house is provided for us.” Another resident, Lau Wan Ngoh, 88 said, “The house I’m staying is the only house I have. I have been staying here since I was young, all my children grew up in this house, I just don’t know where to go if there is no house provided.”  Please do read the article in full here.
Article in nst.com.my

Wishing them all the best

I do hope that all these villagers would have a new place to stay in the near future. I will always remember the time when I heard ambulance sirens during my time as a student in Bristol, UK. My housemates told me that usually during winter, a lot of the homeless folks would die because they do not have a home and it’s just too cold. Fortunately for us here in Malaysia we have only summer, summer and summer for every season. However, everyone still needs a place to stay.

Stressed when the home is not certain

Whether it’s because of the income status of even age, I would feel the stress which they will face if they are indeed forced to move without any option. Perhaps in this case, DBKL may have to step in and do something about it. Let’s see what happens next. If there are further reports, will write here too. Final reminder. Please ensure your parents do have a place to stay and please ensure in future you also have a place to stay too.

Love news like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
Household income Malaysia and how much one should be paying for a property

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Need help on moratorium? This bank has OPEN DAY for 7 days in 17 branches nationwide.

Moratorium is ending. Anyone here needs help on moratorium? Do we feel that it will be a huge thing come October 2020? Earlier article here:
Challenging time after moratorium ends?
  Do we think Bank Negara Malaysia will have to do something drastic come October 2020?  Well their next Overnight Policy Rate meeting will only be in November while the one in September, they have decided not to do anything because they were monitoring. Article here:
Why did BNM kept the rates unchanged

If everyone remembered, our Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has said that banks will take appropriate actions and indeed in the recent report, banks have
 contacted 2 million borrowers on loan extension as well. (click here to read)
 By the way, if I happen to own a bank, I would not want my borrower to default officially. Even if I auction their property, it’s not a guarantee that I will be able to get a good price…  Anyway, one bank is doing more.

Article in themalaysianreserve.com
   Bank Rakyat is holding open days at 17 branches nationwide, starting Sept 19 until September 26 to provide assistance to customers to defer financing payments, after the loan moratorium ends on Sept 30. The open day will start from 10am to 3pm. This will provide to those who needs help on moratorium.

Bank Rakyat chief executive officer (CEO) Datuk Rosman Mohamed said the branches involved were in Johor Bahru, Johor; Jalan Hang Tuah, Melaka; Seremban, Negeri Sembilan; Precinct 8, Putrajaya; Seksyen 14, Shah Alam; Sungai Buloh, Selangor as well as Jalan Tangsi and Jalan Ipoh, Kuala Lumpur. Other branches include Medan Gopeng in Ipoh and Teluk Intan, Perak; Bukit Mertajam, Penang; Temerloh, Kuantan, Pahang; Kuala Terengganu, Terengganu; Kota Bharu, Kelantan; Satok, Kuching, Sarawak and Kota Kinabalu, Sabah. Please do read the article for more details.
Article in themalaysianreserve.com

Anyway, I do not think they (Bank Rakyat) will be taking in borrowers from other banks who needed financial help, so it may be best to stick to the current bank and start discussing with them for a solution soonest possible. Let’s not be too Malaysian; waiting till the final few days before the actual end?!

The positive point is always that when COVID-19 arrived, our banks were in healthy positions. Oh yeah, latest results showed that profits have dipped tremendously but generally, banks remain profitable even in the toughest quarter in 2020 which is Q2. Here’s one latest result. It’s Malaysian’s largest bank by asset size.
RM941.73 million of profits for Q2. Good or bad?
  Till first week of October, it’s best to take action now yeah.

Love to be updated of investment news?
Sign up for KopiWeekly. (once per week for property, finance, investment news and more)

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
When banks refuse to lend to you or lends you less than what you asked for, what does it mean?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


We are staying in Malaysia. We do have choices. Think about Need or Lifestyle? One is actually needed, the other is expensive. Do take a look at the image below. Translated into English, it is as follows: “Actually, our needs are cheap. The expensive one is called lifestyle.”

The words came from someone whom I regard as an expert in both personal finance and property investment; Azizul Azli. Do LIKE his FB page and you will get lots of advice and tips regularly. By the way, he does not know that I am writing this article.
Happy learning from him yeah.

Truly need the drinking or enjoying the feeling?

Every other week, I will buy freshly roasted coffee beans. I have a good friend who brews lattes for me when he’s free or when I ask for it. Of course, I will need to drop by his home to get it but it’s totally okay for me. Oh yeah, my latest purchase as below:

A pack of 250gm of arabica coffee beans is around RM30. If we buy 1kg, the price gets cheaper. Anyway, typical ratio is 10gm of coffee to 180ml of water.  Then, you add in your milk for latte.  In other words, a 250gm pack could theoretically yield 25 cups. This is around RM1 per cup. So, why are we paying so much for a cup of coffee in a cafe? Ahem… the barista’s salary… the rental of the cafe… the cleaning services… the air-con and the extensive renovations and many more.

This is why, if it is a need… then we could drink at home for probably RM1 per cup or RM2.50 per cup in your local mamak and it will become RM15 in a cafe. If we JUST want to drink coffee, then it is a need. If we WANT to drink coffee and enjoy the chit-chats with friends in a nice environment, then of course we need to prepared to pay for the lifestyle. It’s no longer considered a need.

How much could we save theoretically if we focus on need vs lifestyle for 10 years?

I drink coffee daily.  If that’s used, then it’s RM1 x 365 days x 10 years = RM3,650.

If I drink coffee in a cafe daily. Then it’s RM15 x 365 days x 10 years = RM54,750.

Suddenly you realise where your money has disappeared within the past 10 years?  Of course, it may not be that bad.  We do not go to a cafe every day. Perhaps we only go to a cafe every week? That’s RM15 x 52 x 10 = RM7,800  Still substantial because we would definitely still need to spend to buy coffee on days we did not go to the cafe, right? This is just about coffee by the way. It does not include all the other lifestyle needs.

Should we spend less then?

If this is the question, then the answer is NO.  Everyone should just spend what they like. What we needed to do is to EARN ENOUGH money to support the lifestyle we want. We must not be financing our lifestyle with borrowings a.k.a credit cards yeah. Too many people are spending more than what they have and that’s the real problem. It’s not where we drink our coffee actually.

Just look at the salaries of some of the CEOs in the listed companies here in Malaysia. They can drink any coffee they want in any cafe they want and they could even do it for every meal, not just once per day. So, the real question is not whether we want to drink coffee in kopitiam or the cafe. The question is what are we doing to earn more so that we could then decide where is the venue we want to drink our coffee.

Need or Lifestyle? One is needed, the other is expensive. Think thoroughly and perhaps decide logically based on what we could really afford. Make lifestyle become affordable by earning much more than most other Malaysians.  Then, no one would question if we should spend RM1 or RM15 for a coffee everyday. Remember, for lots of personal finance tips, click to follow
kopiandproperty
 or
Azizul Azli yeah.

Conclusion

Please take care and let’s beat COVID-19 sooner so that we can drop by our favourite cafe for coffee. Once in a while, I think it’s okay.
If you like to understand more about coffee and latte, here’s some reading.

Love to be updated of investment news?
Sign up for KopiWeekly. (once per week for property, finance, investment news and more)

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:

Next suggested article:
It is this order. Salary – Savings – Invest. Which stage are you today

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Yes, we need a single agency for affordable homes

I agree with what National Institute of Valuation (Inspen) Director Mohd Khairudin Abd Halim who gave his opinion in a
TheEdgeMarkets article a few days ago.
He said he welcomes Bank Negara Malaysia’s (BNM) proposal on the setting up of a single body to coordinate more than 20 agencies involved in the supply and distribution of affordable housing at the state and national levels. He said, “We need a good model to monitor, record and enable related parties to make an evaluation. With a single body or agency, it will facilitate coordination and will be for common good.” He was speaking in a press conference for the Ninth International Real Estate Research Symposium 2018 (IRERS 2018) which will be held from 23-25th April 2018.
More details about IRERS 2018 here.
In fact the Industrial Sessions are pretty interesting.
Here are the details.

In Malaysia, there are still many Malaysians without a home to their name. This includes even those with
stable incomes such as the civil servants.
It is often said that, it is because the home prices are just too high. Yet, at the same time, there are so many of these affordable homes which are UNSOLD and continue to increase the
unsold properties numbers in Malaysia.
The reason is simple. Without proper planning, it’s just build, build, build and then hopefully someone would buy them. If this is the modus operandi, I think we are looking at ever higher number of unsold units in the future because there are today OVER 20 agencies involved in the supply and distribution of affordable housing in both state and national levels. Do we seriously think all these leaders in all these agencies would have a Group Whatsapp so that they could work together? 🙂  Actually not such a bad idea right?

Moving on, we look at BNM’s proposed a five-pronged strategy including centralising affordable housing initiative; and establishing an integrated and centralised housing and applicant registration database to facilitate planning and allocation of affordable housing. Frankly, before the developers build them, should they not look at the list of qualified applicants first? Are there one applicant per unit built or is the same person in a few different databases and all the developers are building units meant for the same person? There has to be a master list, perhaps by using IC number and the person should be allowed to choose the unit that he prefers, if he could afford it. In fact, if we look at bank’s approval rate for homebuyers, it is definitely better if this list also goes through a loan pre-approval check too. No point in having the buyer for a unit for the buyer but in the end, the buyer could not get his loan approved.
(Here’s a comparison of home loans from 15 different banks)

Mohd Khairudin shared that in the IRERS 2018, there would be about 300 local and international participants, including experts, practitioners, policymakers academics were expected to participate in the symposium. Besides that, topics to be covered during the professional and academic sessions include valuation and pricing, asset, property and facility management, real estate investment, performance measurement and risk management.  “IRERS is a platform for researchers in the real estate industry to discuss and exchange ideas on the changing faces of today’s real estate market dynamic. The symposium will provide an excellent opportunity for global networking, discussion and exchange of information across a broad spectrum of issues related to real estate and allied subjects”
Interested professionals may register here.

written on 14 April 2018

Next suggested article:
IRERS 2018 – Industrial Sessions with important issues and prominent experts

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Negative 3.1%. No, it’s negative 3.8%! Ok, who’s right?

There are two giant lenders in the world. One is called World Bank and another is International Monetary Fund or better known as IMF.  World Bank is not known as WB because WB may just become Warner Brothers for many of us.
World Bank says that this is what they do
, “The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.”  Briefly, for the good of the world.

This is what IMF will focus on, “The key functions of the IMF are the surveillance of the international monetary system and the monitoring of members’ economic and financial policies, the provision of Fund resources to member countries in need, and the delivery of technical assistance and financial services.”  Briefly, still for the good of the world. These two have just issued their predictions for the GDP growth or rather GDP contraction for 2020.

Article in focusmalaysia.my
 This is what World Bank says about Malaysia’s GDP for 2020 and 2021 in its latest Malaysia Economic Monitor.  Malaysia’s economy is projected to contract by 3.1% for 2020 because of the sharp slowdown in economic activity caused by the Covid-19 crisis and measures to contain its spread. World Bank said that growth would pick up in 2021 and Malaysia’s GDP would grow by 6.9%. Full article with more details here:
Article in focusmalaysia.com

Article in focusmalaysia.my
 This is what IMF is forecasting for Malaysia’s GDP in 2020 and 2021. The IMF has revised its gross domestic product (GDP) forecast for Malaysia to a 3.8% contraction from a previous 1.7% on the back of a stronger-than-expected negative impact on the economy due to Covid-19. it has also revised downwards its forecast for 2021 to 6.3% from 9% which it forecasted in April report. Full article with more details here:
Article in focusmalaysia.my

Let’s be objective here. The number is negative but it does not mean nothing is positive. The similar view from both World Bank and IMF is this

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Negative day indeed for Malaysia

Bad news do come at once. Date is 23 May 2016. The following were all news in the media within the same day. All are bad news indeed.

EPF reports that its investment income has fallen by 36% in Q1 2016 and the whole 2016 would be a tough year. Chief executive officer Datuk Shahril Ridza Ridzuan said in a statement: “The investment climate in this quarter was significantly different from the first quarter last year which benefited from better returns from our global investment, particularly from developed equity markets, which compensated for the weak domestic equity market.
(Overall, I think what this meant is that the potential returns for 2016 would be lower than 2015.)

Down, down, down. Stock market is down. Total ‘down’ stocks beat the ‘up’ ones by 456 versus 327. FBM KLCI was down by 9 points. This is 0.55 percent. Banking stocks were hit, including Maybank, Public Bank and CIMB. (Look at the stocks on a longer term. Is the business sustainable and doing well but sentiment is positive?
Buy accordingly
)

Ringgit is down versus all the major currencies too. It has not been doing that well recently even though it started on a good note at the beginning of the year. It’s at US$! to RM4.1210 from RM4.0825 previously.  I think all would continue to depend on that largest economy and the actions it will be taking. Watch them closely…

Malaysia’s
household debts
tood at RM1.03tril or 89.1% of gross domestic product (GDP). Yes, this happens to be one of the highest in the region even if out of the region, Australia has a number which is much higher. It’s over 120 percent currently. (Yes, Australia remains a favourite investment destination to many and install considered safe by many international rating agencies)

Enough bad news for one day? Well, hopefully we will have a very good day. I can then write another article about ‘what a good day for Malaysia.’

written on 24 May 2016

Next suggested article:
Malaysian Q1 2016 GDP, slowest since 2009

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Negative effect, thus Negative Go-Ahead suggested – STP2, Penang

Today, in The STar online, THE Consumers Association of Penang (CAP) and Sahabat Alam Malaysia (SAM) have asked the state government to scrap the proposed Seri Tanjung Pinang Phase II (STP2) land reclamation project. The main reasons given was that the project has a negative impact on the environment, especially the loss of coastal resources. They also urge the EIA Panel to reject the Detailed EIA for this project.

The STP2 reclamation project is huge and as per reported GDV of RM25 Billion would be by far the largest reclamation project in Penang and in terms of actual size, the total reclamation would be as big as 85 percent of the size of Pulau Jerejak! Pulau Jerejak is the island that everyone can see when we are passing through the coastal highway next to the industrial zone in Bayan Lepas. The main difference would be the reclamation would be mostly flat land for an integrated development to take place. Many other reasons were given as well, for example, the impact to fisheries, including the release of sediments during dredging, smothering of mudflats and STP1 has also affected the fishing community as well as impact on the marine life and fishing activity. Many of these problems are long-term.

I am not sure what’s the final decision for this but I think for the project to be rejected properly, the arguments given would needed to be even more concrete. For example, what’s the actual loss from the fishing community. Are all the fisherman out of work today? Who are these people, can the press conference call upon them as a group to substantiate their claims? After STP1 has been completed, are the water quality around the area worst than before?

I also feel that no developers should be bulldozing their way through especially where there are adverse effects to the environment and the local community. Basically, a thorough EIA or Detailed EIA should be done which shows that the advantages really does outweigh the disadvantages before the state government can approve of it. If it’s very disadvantageous, the state government must be courageous enough to reject it.

Do note that it is impossible to have a totally 100% beneficial one sided EIA in majority of all cases. For example, when PLUS highway was built, many communities were also affected by it but imagine if PLUS was not built then, what would happen today. Even for new airports, it would create noise in the surrounding areas, buildings may have to be built lower and some local communities may have to give up their current land and move but we can see the benefits outweighs the negative effects.

Note: I am not a member of the two NGOs and I also do not own any properties by E&O anywhere in Malaysia.

written on 5 April 2014

Next suggested article:
Expert Series Q&A – Penang Property Secondary Market – Mr. Stephen Soon

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...