BCB sold 75 percent of Iskandar luxury condo in August launch

Iskandar properties now? Not many people would rank it as their top three property destination right now, even for those who are thinking to buy instead of adopting a wait-and-see attitude. There is a piece of good news however. One Batu-Pahat based developer, BCB Holdings announced that it has sold 75 percent out of a total of 335 units from their first tower block of 44 storeys. It’s for their flagship high-end condominium project known as Elysia Park Residence @ Medini, Iskandar Malaysia. It was launched in August this year, a tough time indeed. The project has a gross development value of RM1.2bil and sits on a 3.16ha land. The development will take five years. It comprises six tower blocks with a nine-storey cark park podium.

The project is a joint venture which BCB is holding a 60 percent equity with a Hong Kong based developer United Harvest Co Ltd (UHG). In terms of buyers, 50 percent of these sold units were to Malaysians while the remaining units were sold to Taiwanese, Singaporeans, South Koreans and mainland Chinese buyers. Its executive director Tan Vin Sern said the launch of the second tower block of 42 storeys with 334 condominium units would take place in the first-half of 2016. For this second block, they would be targeting Hong Kong and mainland buyers by appointing an agent in Shenzhen, China. A joint venture with the right partner is always useful, especially one who is also able to help market the development overseas.

Actually, it’s not all gloomy or doom for Iskandar. It is three times the size of Iskandar and whether it’s a manufacturing plant or an education institution, it would take time to be built up. It’s safe to say that any downturn affects every property market and not just Iskandar. Read some news about Singapore lately?

Iskandar as Singapore’s output hub, seriously
  In fact there are predictions that the cooling measures may be eased next year because the prices have come down. Read here :
If Singapore eases cooling measures, what about Malaysia?
   For those who are interested to understand more, whether or not you want to buy, do join the Facebook group called ‘Malaysian Investors in Singapore (MISS).’ One should also take a drive and understand what’s really happening. I have no Iskandar properties currently. Happy believing or discounting after some reading and analysing.

written on 22 Dec 2015

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Singaporeans in Johor, buying landed and business parks

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Be full and cheap. Why breakfast can still be cheap lah

I received an
offer from my credit card
 a few months back telling me about one latest promotion for all the credit card holders. I could buy one breakfast and get one breakfast free. It is an awesome deal right? Then, when I looked at the breakfast set, it starts from RM29.90 (excluding tax). Haha. Okay, the place is an upscale one and I have been to another shop next to it before which serves good Spanish food (yes, not cheap..). I am very sure the waiters speak English and would serve you with a smile as well. However, the RM29.90 breakfast set does NOT include a cup of latte.

Oops. Well, as they say, w
hen we want to live with style, better make sure we earn much more to support it. Every weekend when my family and I go out for breakfast in KL, it would be at a kopitiam (restaurant) for those hawker stalls. I love them. However, every few weekends, we do go for some nice cafes, with air-con and a
smiling barista and spend enough money

for many kopitiam trips. Note: every few weekends also because of weather. Sometimes, it’s raining or sometimes it’s just too hot.

Else, there is nothing wrong with a breakfast beside a main road. These small stall based food courts are without aircon but just gentle breeze or none.There are lots of noise from the passing cars. This morning, I had a roti telur bawang (pan fried bread with egg and onions) and a roti kosong (plain pan fried bread) plus a cup of teh tarik kurang manis (less sweet pulled tea). The damage of this awesomely delicious and nutritious breakfast? RM4.20  Jalan Sungai Pinang, Penang. You know why they could still be so cheap? basic flour does not incur GST…. Margarine comes from palm oil. The tea leaves are usually a couple of ringgit for one packet of 500gm. This 500gm is enough for many cups. Prices of eggs are getting higher but it is still less than 40 cents for a B or C grade. So, will the stalls go bankrupt from selling these? Nope. Margins in percentage may be pretty good even. One day of breakfast in a cafe with latte is more than enough to support 5 days of this breakfast and maybe more if one roti telur bawang is enough for you as well as air suam (warm water) instead of what I ordered. Seriously, it’s a choice that we could and should make when we have a choice. Spending lesser than what we could afford and investing them would give us more money to afford things in the future. Cheaper choices? Of course there are.

I could not eat the same food daily. However, the only reason why a lot of these new ‘luxury’ breakfasts are sprouting is also because people started to accept that breakfasts should be RM29.90 instead of RM3. A good friend had her dinner at MUJI cafe in Singapore recently. I asked if it was expensive because a very basic MUJI T-shirt can be RM50 or higher. She replied not really. It’s still affordable. A plate of chicken rice in Singapore, coupled with a glass of iced-coffee in one of the food courts would cost nothing more than $6. Her MUJI dinner is definitely
many times more expensive even if the food is great.

The goal is not to have chicken rice every night. it’s more of a balance of enjoy occasionally and be ‘strategic’ on most days. After all, our future requires long term strategizing and actions too. Happy enjoying your food. (Yes, my dinner tonight would most probably be RM20 per pax. It’s air-conditioned and comfy. The reason is because this place has covered carparks okay. It was raining cats and dogs a while ago.)

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written on 27 Nov 2017

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Be healthy plus doing charity for Joblink. A little goes a long way.

Many times, we forget how fortunate we are. Many times we want to be healthy but chose to postpone it. Many times we forget that just RM50 could actually help many. The chance is here, especially for those living in Penang. Cycle to be fitter. Help people help themselves.

Message from Stephen Soon, President 2017-2018 for Rotary Club of Penang

— start —

JOBLINK Centre is founded and supported by my our Club since 1991, with over 30 trainees with various forms of disabilities. The main objective is to provide them with a shelter to gain economic independence by seeking open employment and working on sub-contract jobs. The Centre will guide and coordinate vocational and social skills training to prevent a disability from becoming a handicap.

HOWEVER, the Centre’s financial position is getting worse and urgently needed members of the public to support the Cycling Event so that we can raise fund to sustain the Centre. We needed at least 800 participants. Currently the platinum sponsor is JHM Consolidation Berhad, with IDEAL Property Group, PARKROYAL Resort, BannerKing and SOFresh as the main sponsors. The cycling starting point is from TESCO Tanjong Sri Pinang to PARKROYAL Resort in Batu Ferringhi.

Sign up here:
https://event.howei.com/event/charity-cycle-joblink

— end —

Just doing my small part. Happy helping. Thank you for your kind generosity.

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Better property ads – Some little tips.

This article is aimed at property agents who kept cutting and pasting descriptions of the property they sell every time, every hour, every advertisement. I read way too many and is now too numb to make any decision. Instead of 100 look-alike postings hoping that someone will call, why not post 10 very good ones instead and hit that few very interested buyers instead? Let’s assume that I am a FIRST TIME potential buyer who knows little about what to buy and why should I buy.

Location. I would normally start with location to buy. However, what if the property is NOT in a hotspot? It is ok, please STOP trying to cheat me by putting one whole line of different areas in the same posting. This happens frequently and it will frustrate me. Put the actual area but put in additional convenience(s) below. I may not know enough about the area BUT if all the things I want is within that secondary area, chances are I will still view and maybe accept it. Everyone has a budget to follow…..

Convenience(s). Research a bitlah.

1) Highways. “Nearby highways” is not useful versus 1.5km and 2 turns away from NKVE. This is an important point because everyone I know and you know have a car today…..

2) Shopping. 5km from Mid-Valley Mall is not useful versus 5 minutes from Mid-Valley during weekends. (Why weekend? You work on weekdays… remember?) If you are talking about smaller regional malls, then include in the mall’s website. This allows the buyer to know more. (Tak Kenal Maka Tak Cinta. Bila Kenal, Jatuhlah Cinta.) Haha.

3) Schools. If it is a landed property or a condo of 1,000sf or higher, it may attract families with school / college goind family members. Always remember that family here does not need to be just small kids, might be teenagers or even the younger brother of the buyer. Perhaps you want to say, ‘2 minutes away from ‘actual school name’. ‘3 minutes away from 3 daycare / kindergarten etc’ or even ‘3 roads away from ‘actual university’ name.’

4) Transportation. 1 minute walk to the X komuter station or 3 minutes drive to X LRT station or even it’s just 500 metres away through a dedicated pathway straight into the X station.   I do not personally think FUTURE MRT station is that important unless I am buying for an investment but yes, you may want to put as well. For this, perhaps ‘Potential for some capital appreciation because X MRT station opening in Sep 2017’ would serve the purpose well.

5) Working place. Know EVERY MAJOR office buildings within 5km away from the property. Use Google. List them down. “Within 5km radius from the property you may find the following office buildings: XXX, BBB, CCC, GGG.”   Yes, you can also list down how far it is from the KL city centre as an added point but I think if I am buying for the first time, I normally look for places convenient to my current working place first. Not to the KL city centre, unless I work there.

6) Supermarket. Many would need to buy groceries. Not many would want to only buy from the tiny convenience stores. Thus, names such as AEON, TESCO’s, GIANT, Econsave, NSK would definitely come in handy. Know where these are and state them down clearly in terms of distance and duration. ‘2 minutes or 3km away from TESCO hypermarket’ would suffice.

7) Current Value. This is quite important even for a first-time buyer. “Condo next door, XXX is currently priced at RM500 psf.’ Or ‘This area is considered a matured area and the prices per sf typically ranges from RM500 psf upwards, for e.g project X, Y, Z”

8) Supporting Information. Include in some readings about ‘First Time Buying a Property.’ ‘Tips in buying a property’ Etc. Google some of these articles and put into your listing. Educate the buyers because the major reason why they have not yet bought was because they know very little. If they continue to know very little, making a decision is much harder.

9) YOUR personal review. Yes, PLEASE visit that place and then tell your personal views why you would consider it. E.g Maintenance is good and the current price offered is good because the unit was renovated for RM80,000 just 3 years back.’ E.g, ‘Best for families with young kids because the XXX school is 52 steps away.’ E.g, “The unit needs just a painting job and new electrical equipments and buyer can move in immediately.’

There are reasons why buyers should pay agents the fees. There are also reasons why agents deserve to be paid. Both reasons point to the agent’s efforts and professionalism. If you are ready to serve and help your buyers in buying their first property well, just think what would happen if half of these first time buyers remembered you when they wanted to buy their second property. Stay professional, stay long term and then you would see that as an agent, the sky is the limit in terms of potential financial success. Cheers.

written on 16 June 2015

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Beggars save too, else ‘earnings’ are useless..

How much can someone save if he earns RM1,000 per month? I think not a lot unless he is staying with his parents and he brings packed food from his home everyday. Well, what about a beggar? According to an earlier article published in NST, a beggar can ‘earn’ up to RM400 per day! Here’s the article in
TheSunDaily:  Beggar has RM8,000 cash, RM40,000 in bank and house in Georgetown.

This particular beggar has much more cash in hand than most of us and his fixed deposit could provide him an annual return of RM1,600 per year. He owns even a home in Georgetown! Let’s not think it’s those hundreds of thousands ringgit type. How about just a low-cost flat of RM50,000? He is a beggar which meant that there’s no way that banks would lend him money. In other words, his property would have to be bought by cash or fully paid for. This particular beggar may potentially have a net-worth which is the envy of many!

What can we learn from this interesting piece of news? All are assumptions, since I do not know him personally. Well, this

beggar must have saved a lot

of what he ‘earns’ everyday. Perhaps he does not need to spend much which is why he has saved a lot but he needs to eat and drink water everyday, right. He has a home to go home too which meant that he may also need to pay for electricity and water? He has thus minimised his expenses. When I was young, two slices of bread with Planta and sugar is already an awesome food and today, I still find it delicious today and occasionally I ask my wife for it. Not everyone could eat this now. They may need a nice cafe, order a butter and kaya toast and a cup of coffee. Total cost for these two things? RM8 or more. Seriously, do we really need this, IF we still complain about the cost of living? We need not follow the beggar who must have totally eliminated most of his expenses. However, we can take a leaf from him and save more.
Choose what we spend on and only spend
 when really necessary. Else, earn more.

Let’s be knowledgeable. Most of the time, as one earns higher, the expenses follow in-tandem too; up. You know the term of ‘keeping up with the Jonesses?’ In brief, peer pressure caused us to spend more so that we can be seen to be in the front instead of falling behind. Is this really needed? Here’s an earlier article:
Overspending to ‘enhance’ image is very Sxxxxd.
The beggar has taught us a key lesson. Beggars must save too. Else earnings, regardless of how high means nothing.  I do not think their life is easy and this is why I do not think anyone would like to encourage everyone to be a beggar instead. By the way, beggars do not ‘earn’ good money only in Malaysia. This article shared that a female beggar in Singapore c
ould earn SGD100 per hour!
By the way, it’s illegal to beg in Singapore and Malaysia. Happy saving yeah.

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written on 30 May 2017

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Press Release:
Begonia, the premium development in a bespoke neighbourhood

Nature and community grow in abundance at Myra Gardens

The city folk are already weary of the weight of modern living. The many conveniences of the metropolise are welcoming, but people still want to unplug from the city and recharge with the tranquillity of nature. Drawing from this inspiration, property developer Myra has crafted a sustainable, strata township, Myra Gardens.

Located in Kundang, Rawang, Myra Gardens has a total area of 70.6 acres, 587 landed units and a gross development value of RM440 million. Composed of six phases, each phase introduces a set of homes that pay tribute to the wonders  of nature in their very own unique way.

Home buyers who have their eyes on Kundang will be excited to know that  Myra has announced the premium element of this multifaceted township, Begonia.

Designed to suit your every needs

Begonia, being the second phase of Myra Gardens, represents a total of 91 units of double-storey link homes, sprawling across 7.26 acres of land and at a gross development value of RM62,772,000. The development features two layouts, Venosa and Grandis.

Starting with Venosa, this layout  features four bedrooms and three bathrooms ranging from 1,854 to 2,121 sq ft and a land size from 20’ x 70’ to 25’ x 70.’ With a starting price of RM620,000, the intermediate unit comes with a spacious backyard patio of 10 feet and a study hall to facilitate a home office.

Next is the end lot, where more space is given by the extension at the rear. Also, the bedrooms are longer for the ground and first floor, a design plan that increases accessibility and spaciousness, accommodating families with older members.

Then there is a family hall that grants further privacy to the family, besides acting as a second entertainment area away from the guests downstairs. Speaking of entertainment, home buyers with green fingers will note with delight the garden-inspired back and middle lane, blessing their lives with natural light and lush greeneries, among other perks. The exclusive Grandis builds upon the various selling points of Venosa, with all 19 homes facing the superlative landscape and central park.

The units come with a built-up of 2,157 sq ft, four bedrooms, three bathrooms and a clubhouse radius of merely 100 metres. With a land size of 20’ x 70,’ the homes have a starting price of RM808,000. For added convenience, the back lanai of the house connects directly to the main central playground of the township besides seamlessly integrating the landscaping of the residence to the park.

Delving into the home, the unique layout of the living room allows homebuyers to have the main view of the entire featured landscape of the township. The master bedroom is poised at the rear of the house, and it comes with a balcony, allowing the master of the home a scenic view that encompasses the majesty of Myra Gardens.

“Myra Gardens strives to provide a harmonious balance between the fast-paced city and a tranquil retreat for our residents. Begonia, our premium phase, is our humble effort to offer a contemporary lifestyle while also providing a peaceful haven after a long day. We are committed to creating homes that align with the needs and desires of our homebuyers,” said Akil Kalimullah, Branding & Culture Chief of Myra.

“Nature Meets Convenience”

Residents can find a multitude of choice facilities just outside their home at the exclusive clubhouse. Indulge in a healthy life by working out in style at the gym, or make several laps in the swimming pool. Community spirit is fostered at the expansive multifunction hall, where various activities can be held. The cosy co-working space is the ideal place for discussions to occur.

Outside, families can indulge in a quality stroll on the paths that hug the idyllic lake. To add to the family value, an exclusive space has been designated for a kindergarten, providing plenty of conveniences for parents with young children. Security is another aspect that needs to be addressed, and the gated and guarded Begonia does not disappoint with its 2 tier security system.

In terms of connectivity, the township straddles Rawang and Sungai Buloh, with easy access to major highways such as LATAR, Guthrie and the North-South Expressway. This allows residents of Begonia quick linkage to the capital city and beyond.

Various amenities are also present in Myra Gardens and the surrounding area, such as AEON Rawang, Giant Hypermarket, government schools, and medical facilities. On the other hand, nature lovers will find plenty of leisure opportunities at the Recreational Forest of Bukit Lagong.

Nature and conveniences are two aspects that exist in opposites. The furthering of one usually demands the sacrifice of the other. Yet Myra Gardens has proven that our modern lifestyle can proceed alongside the wonders of nature and its ample charms.

For more information regarding this development, visit
myragarden.my
.

-End-

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More below RM500k units but unsold units at 78 percent

I think everyone is aware that the property market is entering a slowdown period. The total numbers were lower for Q1 2015 versus Q4 2014. Well, situation may be even slower than anticipated or the sentiment is even more negative than I thought? Well, according to Real Estate and Housing Developers’ Association Malaysia (REHDA), for the strata units launched in Penang, Selangor, Kuala Lumpur, half of the units were priced below RM500,000. Despite this huge number of units below RM500,000 the total unsold units still increased from 64 percent to 78 percent. Yes, this includes the unreleased bumiputera units too. However, REHDA’s president Datuk Seri Fateh Iskandar said that the situation is still manageable. In brief, I think he is saying that developers are not desperate currently.

This current gloomy outlook for the first half 2015is likely to continue and the biggest challenge is said to be the end-financing rejection rate going up from an average of 29 percent in 2014 to 35 percent in 2015. Fateh said that this is very alarming because it showed that most first-time home buyers were not able to buy one due to the lower margin of financing and stricter lending rules. A famous property guru told me in a function a few weeks ago that for some areas, banks were only willing to lend up to 80 percent. Due to the gloomy outlook, sales performance has been lukewarm for the past 18 months.

I personally believe that the current slowdown is mostly because of the wait-and-see attitude. The wait-and-see attitude meanwhile is due to the current negative sentiment prevailing in the market. I also think that there are still rooms for some of the developers to adjust their prices further. For those who have launched, it may be wise to provide more special offers and quickly sell instead of waiting. With the ringgit remaining volatile and the on and off negative statements by some international rating agencies plus the never ending political dramas, the developers may have to wait very long if their project is not attractive enough. Buyers in need of their first home is definitely a huge pool but perhaps the potential risk of buying a unit is not something they want to try today. Happy anticipating and choosing that it that you want, objectively.

written on 11 Sept 2015

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More land buying, even during current slow period?

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Ben & Lynette, Ipoh

This is a very new cafe. Just opened one week ago. I think this is the first time ever that I have visited such a newly opened cafe.  Ipoh really do have an ever growing cafe culture. There’s even a horse at the entrance to the cafe. Please, don’t climb up the horse.It was around 11am and there were not many people when we arrived but after that a few more tables were occupied. As usual, I ordered the latte and my friend ordered the mocha. Apologies, it is so hard for me to give high marks these days. Mocca is considered quite good. Latte is however just above average. The intensity of the coffee is just not there, even though I think it is strong enough.

The creme brulee is quite good in my opinion. The other one which I have forgotten the name is just too sour, I meant the top. There were also other desserts but I had just finished breakfast and was in no mood to try any of them. The breakfast set is also so-so. Everything was too dry…  The service can also be improved. For example, when you bring the food, please, just grab the utensils along instead of asking us to take the utensils ourselves by saying, ‘utensils are self-service’. If I want to self service I would not go to a cafe to be served wouldn’t I?

I would go again after I have visited all other cafes. Hope by then B&L would have improved tremendously. 🙂

written on 31 dec 2013

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Making sure public transport remains cheap is not easy but can be done!

This is what KTMB chief executive officer Mohd Rani Hisham Samsudin said in an article in NST, “TOD is the best method of development to integrate residential and retail with railway stations. Not only can we unlock the land value, the stations will also be upgraded with new look and facilities. This will add value to the overall development and bring convenience and value-added services to buyers and owner-occupiers.”
Here’s that article: TOD concept for RAC land development.
  What he is saying is a follow-up from what our new Transport Minister Anthony Loke said recently. Here’s that earlier article:
Affordable homes within 9,192 acres of land and ‘profitable’ public transport company

In fact, it’s always a great pressure to the government of the day to ensure that public transport remains affordable because without this, the B40 will face tremendous pressure because I seriously do not think the petrol subsidy will last forever.

A brief explanation for TOD (transit oriented development). Basically it how a developer seeks to maximise access to mass transit and non-motorised transportation with centrally located rail or bus stations surrounded by relatively high-density commercial and residential developments. One example in Malaysia would be KL Sentral development in Brickfields, Kuala Lumpur. This 29.16ha land; KL Sentral has a RM1.1 billion Stesen Sentral, Grade-A office towers and suites, apartments and condominiums, hotels and a mall. Stesen Sentral is currently Malaysia’s largest transit hub, is where several rail networks, such as light rail transit (LRT), Express Rail Link (ERL) services, KTM trains and monorail, converge. There are also people who said that the public transportation within Greater KL should use the hub and spoke model.Well, the hub and spoke model may not be straight-forward for us because Malaysia did not actually start with ONE mode. There’s currently the ERL, LRT, LTM trains, Monorail and even MRT. That was why MRT Line 3 was proposed, as an integrator. Anyway, earlier article here:

MRT Line 3. Better late than never.

As for benchmarking the very best, Hong Kong is the best model for us. Their Mass Transit Railway (MTR) is a major public transport network operated by the MTR Corporation. It is the most profitable metro systems in the world and has a fare recovery rate os 187 percent in 2015.  Fare recovery means that the ticket sales coverage of the maintenance and operations cost. In brief, for every HK$1 spent on operations and maintenance, MTR Corporation is earning back HK$1.87! Usually, public transport would need subsidy from the government. It has managed to do this because it owns many commercial properties (towers too) along the track. For example it owns several shopping centres and even the International Finance Centre. As per wikipedia, it has some 7,000 housing units in the development. What it does is to merge connectivity with commercial activity which can also be known as a Transit Oriented Development. No one knows how much we are able to benchmark them but it’s definitely a model worth emulating.
Here’s for further reading.

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written on 8 July 2018

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China’s Hong Kong with a Hong Kong town in China. A rail based plan

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Benchmarking the richest people in the world?

If we look at the wealth of a country and divide it by the number of people living in that country, the country with the highest wealth per population is Switzerland. The wealth per adult is US$530,244 (RM2.22 million). The lowest in the top 10 list would be the French with US$280,580 (RM1.17 million). Australians are placed second at US$411,060 (RM1.72 million) For full
Article in Sydney Morning Herald click here
  However, let us note that in some countries, for example the U.S, 0.1% of the population owns as much wealth as the bottom 90%. Thus, it may be better to look at the numbers from the median population instead.

When the numbers are now based on median wealth per adult (within the middle where most of the citizens are), Australia leads the top 10 with US$191,453 (RM801,000). The Americans are now nowhere near the top 10. They are ranked 18th with US$61,677 (RM258,000). Our neighbour, Singapore has their median wealth per adult at US$91,656 (RM384,000). kopiandproperty.com readers who are reading this and actually has net assets of more than RM384,000 you are already within the top 10 wealthiest citizens of the world. Yes, top 10. Anyway, here’s that report for reference again.
Article in Sydney Morning Herald click here

For a closer to us kind of reporting,
we have MalayMail.com article here.
 Some important notes from Credit Suisse. It says that 63 percent of the global population has only 1.9 percent of global wealth. (Yes, richer are still becoming ever richer). Just 0.8 percent of adult millionaires already collectively own 45 percent of all assets. On a more sobering note, Credit Suisse says that an adult only needs US$4,210 (RM17,614) in assets after subtracting debts to be counted as among the wealthiest half of the world as of mid-2018. (Yes, just having a net of RM17,614 meant that we are already on the richer half of the world today).  If we want to be ranked within the top 10 percent, then a person needs at least US$93,170 (RM390,000) in net wealth. Aiming at the top 1 percent instead? That’s US$871,320 (RM3.65 million). On an overall basis, the bottom 50 percent of the global population owns less than 1 percent of the global wealth.
Here’s that article in full.

Even if we are earning RM4,000 per month today, as long as we do not simply buy stuffs we do not need and could save RM1,000 per month, before the end of year 2, our savings would have qualified us to be within the top 50% of the wealthier people in the world. By the way, buying just 4 different iPhones meant that we would have spent more money than the net wealth of the top half of the world’s population too. Okay, perhaps 5 since the second-hand iPhones we own could still be sold for some money. Happy understanding and let’s build our wealth yeah.

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written on 10 Nov 2018

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Media Release: Berkeley Group St George & Knight Frank Malaysia launch landmark London development Grand Union

Berkeley Group St George & Knight Frank Malaysia launch landmark London development Grand Unio
n

Berkeley Group St George has launched its new development Grand Union, a landmark new waterside development that will see the regeneration of a 22-acre site into a vibrant new neighbourhood for North West London, delivering much needed homes and jobs in the London Borough of Brent.

Grand Union will provide a range of local amenities for the area including a nursery, a commercial gym, a new local bar and restaurant, a health centre and a local convenience store for the benefit of the whole neighbourhood. The 5,000 sq ft community centre will encompass a community garden and kitchens and provide workshops and flexible event spaces for existing and new residents.

Grand Union will transform a previously derelict site into an exciting new canal-side mixed-use neighbourhood in Alperton. The development comprises a range of one, two and three bedroom homes, with spacious private outdoor space for every apartment.

The masterplan ensures that Grand Union will provide a new place to live, work, relax and enjoy with 11 acres of public green spaces including a canal-side piazza with a vibrant selection of cafes, restaurants, and bars and new community areas with children’s play space in the central gardens and riverside meadows.

The new development will reconnect the local area with the Grand Union Canal and River Brent by opening up previously inaccessible parts of these waterways to local residents and creating and improving routes to Stonebridge Park.

Located on the southern part of the Grand Union site, next to the Old North Circular, the Generator will provide 135,000 sq ft of flexible workspace for a variety of light industrial businesses. Arranged over 6 levels, it will be the first of its kind in the UK.

The Generator sits at the heart of an employment strategy which will create over 650 jobs and apprenticeships at Grand Union, making it a truly mixed-use development where homes and jobs can successfully co-locate.

Piers Clanford, Managing Director, St George
, commented: “Grand Union will be truly transformational, creating a pioneering new canal-side neighbourhood and providing beautiful private and affordable homes set in stunning landscaped spaces.

“There will also be a new multi-storey light industrial hub called the Generator, which will be the first of its kind in the UK providing flexible workspace for start-ups to more established businesses. St George will transform a disused site into a vibrant community for all.”

Dominic Heaton-Watson, Associate Director, International Residential Project Marketing, Knight Frank Malaysia,
said:

“Knight Frank Malaysia is delighted to introduce such a thrilling residential development to the investor community in Malaysia. Grand Union has all the attributes we look for in a successful investment including value-driven pricing, high quality specifications, abundant amenities, easy transport connectivity to business districts & education and of course proximity to a large pool of quality tenants.”

Heaton-Watson
 added: “Just 3 miles south of Grand Union is Park Royal – the largest business park in London currently home to over 1,200 businesses such as Diageo, Ocado, BMW, McVities and Greencore Group employing over 35,000 people. The programmed arrival of HS2 and Crossrail creating a ‘transport super-hub’ will undoubtedly make this one of London’s best connected places.”

Grand Union is well-located with transport links providing access to central London through the Piccadilly line at Alperton, Bakerloo and Overground line at Stonebridge Park and proximity to the North Circular. There are a range of good schools in the local area including Alperton Community school, Lyon Park Primary School and St Joseph’s and London’s top universities are easily accessible.

Grand Union offers studio, one, two- and three-bedroom apartments, with prices from £395,000. For further details about Grand Union, please or visit the website:
https://bit.ly/2VpUris

—
END
 —

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Virtual Teatime Talk:  How to Choose the Best Digital Solution for Leads-to-Sales Management  (Yes, they invited me to share too)

Can all the sales process be completed online? Actually, answer is Yes since many years back. We could even sign our documents online and it’s even safer than someone forging your signature on a piece of document. Can we view the actual unit without going to the sales gallery? The answer is also a Yes. However, the question is always, can property sales be all done online and are ALL the buyers ready for this transition? We will speak about this next 2nd July 2021 at 3-4pm.

They did not send me the questions yeah, so I could not prepare. However, this topic is something which I have been sharing, so I guess I could share what are my thoughts. By the way, they did not pay me and I did not pay them. Plus the fact that I am NOT part of ProSales, I am also not part of any property developer and I do not even have a Real Estate Negotiator (REN) tag, so I will just speak from a property investor point of view yeah.

If you like to see if what I say matches what you want, do register yeah.
The poster as below. Register here.

Message from the Organiser as below:

Topic
“How To Choose The BEST Digital Solution For Leads-to-Sales Management” ProSales Virtual Teatime Talks Ep.4

Description:  PROSALES SOLUTION 2.0

THE BEST & ONLY END-TO-END PROPERTY DIGITAL SOLUTION

Knowing the challenges of the property development journey ProSales has developed, with several strategic partnership, a ONE-STOP-APP which is helping developers in resolving most of their challenges! In this episode of our virtual teatime talk we will see what our Experience Creators have in their basket for you:

Inbound Virtual Marketing TO CONTACTLESS Leads-to-Sales Digital Solutions

Hear directly from the words of our digital marketing partners, bloggers and experience creators how to win the heart of buyers, get them to enquiry and easily place a booking!

All this 100% DIGITALISED | CONTACTLESS | AUTOMATED

ProSales Solutions 2.0, the new innovative digital platform developed to make YOUR project successful, YOUR buyers satisfied and helping YOUR brand strong and long-lasting!*

GET ONE GET ALL! – JUST USE IT!Time

Jul 2, 2021 03:00 PM in
Kuala Lumpur

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World’s Best for doing business – Singapore

According to the annual Economist Intelligence Unit (EIU) for the best place to do business in the world, the top country is Singapore. It is ranked ahead of Switzerland, Australia, Hong Kong and Sweden. I love this ranking very much and hopefully this list is referred by all multinationals when they think of a new base here in Asia or at least ASEAN. Singapore is top because of its “efficient and open economy”. This is similar to another World Bank survey which placed Singapore on top out of 189 countries examined. Oh yeah, Singapore should also win as an Asian representative because Asia is on a growth path. 15 more years, China may already surpass USA as the largest economy in the world. Already, the signs are there as China is also trying to promote Yuan a currency of trade instead of US$.

How does this benefit the Malaysian property market you may ask. Well, a lot. Perhaps not directly but the spillover effects would be good. Many of these international companies, when they are looking for a base in Asia will give a higher preference to Singapore. The more they come, the merrier it would be and the fact is, the best place to do business does not mean its cheap. The best place to do business also do not mean that their workforce is at a price which is competitive enough for a long term huge base. The best place to do business however do mean that the business environment is definitely very conducive and perhaps the government support is high or that all the necessary legislations are in place. Fast approvals, one stop centres and most probably accessible into from other countries and out to other countries. In this case, well within the heart of Asia.

2014 has not been a great year for Singapore where the property market is concerned. Nevertheless, everyone knows that a breather is needed if the property market is to consolidate for another growth ahead. When more businesses come to Singapore, more would be hired and without any doubt one main supply would be Malaysians, especially Johoreans and even if not, these Malaysians would more often that not stay in Iskandar. Not many would love to stay in Singapore with a rental of a small room as S$700 – S$800 right? After a few years of working, a property is needed and the natural choice would of course be the cheaper side. I seriously do hope that this EIU list will be referred to by all the European investors before they decide which country to put their base in.

written on 17 Dec 2014

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If we understand how businesses operate, we will have to note that they will release their results at the earliest every quarter. Even listed companies will have their accounts audited and reported on an annual basis for all their investors and the public. In other words, it should be highly unlikely that we invest today and we get returns from our investments within the next few seconds, minutes of even days. Those could be called trading, perhaps? Yes, arguably also a form of ‘investment.’ Do we then know what is an investment and how do we start this journey of potential rewards after some time?

I love this statement (at the very end of the article) from an easy to read article here:
Article in cnbc.com
  The writer quoted many investment experts (I do not know any of them but I am very sure they are good investors since their views are featured in cnbc.com).  The writer also reminded all of us about the memories of the global financial crisis as well as the 2008 downturn. It says something very true yeah. With interest rates being low and even negative in some places, this will continue to suppress cash savings. Thus not doing anything at all may just do more harm than good.

However, what and how do we start to invest then? Briefly, we follow these five steps.  First is to set a goal.  Secondly, we need to have decided on a timeline. Third is to know what’s our risk tolerance. Fourth is to ensure our investments are diversified. (Leaving all eggs within the same nest is likely to be extremely risky!)  Next is to know the fees which we will have to pay for those investments and last but not least is to forget about those investments! One of the contributor to the article said, “Investing should be as exciting as watching grass grow.”

It’s tough to watch the grass grow. Perhaps we could see changes every couple of weeks but otherwise, it will stay almost the same. I invest into the unit trust every month and I have learnt not to look at it except when I get some annual statements. I have also started to invest in Stashaway since last year.
Investing can be easy via Stashaway

If we look at the property market, then it’s even more harder yeah. Property prices should not be rising every now and then. Perhaps inflation numbers will help the prices to inch upwards every year but I think property investment should be like ‘watching the grass grow” kind of investment too. If it goes up and down every other week, I am not sure if I could sleep well anymore. Happy understanding!

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Best neighbourhood mall, ATRIA

Any area with a good neighbourhood mall is likely to be popular versus one without. In fact the property prices in these areas with a nice neighbourhood mall is likely to appreciate faster or even stay strong during slower times. Of course, the worst would always be to be right next to a neighbourhood mall which could not sustain its operations and have to close. Recently, another new one opened in Damansara Jaya.

ATRIA mall in Damansara Jaya has reopened. It is said to be a nostalgic one for many who have shopped there long time ago before all the newer and modern shopping centres opened. It’s has a total gettable area of 470,000 sf. Thus, not as big as Paradigm Mall (700,000 sf) but very slightly bigger than Tropicana City Mall (435,000 sf ft). All the 470,000sf is housed within a 5-storey complex. As reported by The Star, total outlets opened for business is already close to 70 percent during its soft opening.

My sister-in-law’s favourite brand, Mango has also opened it’s largest outlet in Malaysia here in Atria. Next from UK as well as my daughter’s favourite Hamley’s has also opened their stores here. I feel Hamley’s is better than Toy r Us because it’s much more interactive instead of just a typical toy store. The staffs are also somehow more motivated. Haha. No idea about their compensation comparison though. If you would like to know about all the outlets there, do take a stroll, perhaps this weekend or even the next.

This is totally rebuilt mall and thus the only thing connected to the old one would the site and the name. Other than that, the whole building was demolished by OSK and rebuilt. According to OSK Property executive director Ong Ju Xing, the old mall they bought gave them too much restrictions and thus decision was made to demolish and rebuild. He then commented that he hope that Atria would be the best neighbourhood mall around.

Personally, for any neighbourhood mall to be successful I think the mall operator must make sure it’s big enough that one can visit with family and has everything for everyone. The usual brands are definitely okay but it must have all varieties and a really clean and big enough supermarket. Food outlets must also be plenty so that one is spoilt for choice overtime they visit. As usual, it must be of multinational in nature; Japanese, Korean, Taiwanese, Western would be my very minimum requirement. Parking MUST be enough and must be FREE for some time to build up the momentum of visitors. So, actually, it’s pretty easy to be a successful neighbourhood mall! Any mall operator thinking short term is not going to succeed and may end up like SS2 Mall which is now undergoing restructuring to be another very good neighbourhood mall in the future. Happy supporting a good neighbourhood mall.

written on 30 May 2015

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Not the best news for Penang but stay focused please

A friend forwarded some ‘bad’ news for Penang. Amphenol from the United States is closing down one of its manufacturing plans in Penang and will relocate its mobile devices and mobile networks operations to China. 150 workers including engineers and operators will be affected by the move. The reason for moving is simple, they bought FCI Asia PTE Ltd, a global leader in providing interconnect solutions for telecommunications, wireless and data companies and there is no reason to maintain two sites. Let’s understand that this kind of move is because of consolidation to ensure better cost efficiency and effectiveness of operations. This will happen during any time and has nothing to do with a crisis.

Second piece of news was about Sanmina Corp taking over Motorola Solutions facility in Bayan Lepas in early 2016. This is the Technoplex manufacturing facility. As per news thus far, the R&D operations in Penang for Motorola will be unchanged which meant that it will continue to serve all its customers worldwide. Sanmina is a Nasdaq listed integrated manufacturing solutions provider. This meant that costs are critical to its business and if it chooses to maintain the R&D centre, it meant that this facility is still competitive versus the world. In fact whether this R&D centre would continue to operate depends on the contribution from the 3,000 headcount there.

Fortunately for Penang, as long as these headcount are willing to join another organisations, it would be easy to find employment. Just browse
jobstreet.com.my
 and you would understand what I mean. This is because despite these hiccups, the shortage of engineers in Penang are still continuing. My friends who are in the HR departments of manufacturing companies are still telling me that it’s hard to hire suitable engineers. The slightly better ones are very highly paid. Sometimes, too highly paid too. A friend told me that her husband has been trying to find a new job for over 1.5 years but has yet to find any suitable ones. He is 32 years old and earns RM8,000 as a senior engineer. While there is nothing wrong with earning higher but being paid much higher but working as only a senior engineer? I seriously think this is not sustainable in the long run unless he is also being promoted upwards. I could only wish him the best.

We should stay focussed. Being paid ever higher but doing the same thing every year meant that the company that we are working is getting less competitive versus the world. As for us, we are getting less competitive versus other ‘cheaper’ engineers in the market. Aim at improving, aim at working harder to get promotions and not be too complacent with a high pay and less work. At the same time, the money earned should be better invested and not wasted on more powerful cars or luxury handbags or even expensive foreign trips. The world continues to change at a fast pace and that high paying job may no longer be around tomorrow simply because there are lots of poorer nations with better people willing to do more for less pay. Are we prepared? I think that’s a question all of us should ask ourselves seriously today.

written on 24 Oct 2015

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Best place always; Retire in Ipoh.

Just days ago, someone in America gave Ipoh a ranking of top 10 MOST AFFORDABLE place to retire in the world. Full report is here:
http://money.usnews.com/money/blogs/on-retirement/2014/04/16/the-worlds-9-most-affordable-places-to-retire

She wrote that Ipoh is a very good place to retire because one only need a monthly budget of US$897. Based on today’s exchange rate, this is about RM2,850 per month. I checked with my mum. Her budget, even if assuming our family home in Ipoh is still being paid the usual rental of RM1,500 is still lower than RM2,850 for my father and her. Nevertheless, RM2,850 is indeed still a very real number when one considers that eating out is a daily affair plus on and off an ice cold snow beer in Ipoh. Yes, the best ice-cold snow beer is also in Ipoh. Believe it or not, who cares. I say so and it’s my personal opinion. 🙂

She said, Ipoh feels like a small town. I think I can easily agree to this. The reason is rather simple. Ipoh has only 1/3 population of Penang but just Ipoh city alone is already 643 sq km. Compared to Penang island plus mainland, it is 1048 square km. I am not comparing it to KL because I have to be honest, retiring is something you may not want to consider KL on top of your list. Penang probably, Ipoh definitely but KL, not for me. She said locals speak English and they are friendly. Agree totally because I can speak English well and I am friendly. Haha.

Besides these two facts, Ipoh has three things which my Penangite friend once told me last year. She said, the reason why she will retire in Penang is because Penang has the following three things:

1) Family and Friends. In Ipoh if you are a foreigner, everyone would treat you as a friend. They are always willing to help you. Maybe because you are foreigner or maybe because they want to show the best of Ipoh to you but this is true anywhere in Ipoh. Somehow those who feel they are too good for Ipoh almost always have left Ipoh and those who are staying are genuinely Ipohan who feels Ipoh is their home today and tomorrow. Thus, for this point, Ipoh scores very high.

2) Access to private hospitals. She said, if she has money she would go for private hospitals. Actually I do not agree fully with this statement because my late grandmother was saved by the government hospital doctor AFTER the private hospital said that she was a goner. After that incident, she lived many more years in good health. Anyway, since it is for retirement, private hospitals must be available. In this respect, Ipoh has many and some very good doctors too. Pantai Hospital, Fatimah hospital and many more specialists are also available within Ipoh.

3) Access to education. She said Penang has USM which is Malaysia’s Apex University and also have many other private colleges. Ipoh has the same number if not HIGHER numbers. However, the only weak spot would be that there’s no direct flight from many places into Ipoh and thus many students may prefer Penang or KL. Just to name a few, Universiti Teknologi Petronas (UTP), Universiti Tunku Abdul Rahman (UTAR), UiTM and many more colleges offering Degree courses.

There, if you are a foreigner looking to retire in Ipoh, these are a few reasons for you consider Ipoh. My Penangite friend once said Ipoh has no places to chill out. Today, I do not know of any Penangite who dare to say that to me without incurring my wrath because whether its beer or coffee, both cheap and expensive, Ipoh has them all. I can say Penang is a great place to retire anytime but if anyone were to say Ipoh is not good compared to Penang, get ready. I am not going to lose without giving you a ‘bloody nose.’

written on 25 April 2014

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Best place to retire vs most liveable city

Someone forwarded an article about Malaysia being the best place to retire in Asia and 5th in the whole world as per the new Retirement Index from International Living.com   The index took into consideration the criteria such as cost of living, healthcare and climate. The reasons for Malaysia being 5th best in the world? Our tropical climate whether the retirees chose to be in the heart of cities or in smaller towns which are also nature or beaches. Cost wise, retirees can live comfortably with just US$2,500 (RM9,900) a month. This is considered a very small amount when compared to western countries.  Besides that, Malaysia provided
quality healthcare at affordable prices and the choices for restaurants and international groceries are aplenty.
(Perhaps more for bigger cities I believe)
Applying for a retirement visa is also very easy and this has helped many retirees thinking to move here during their retirement years. The full article in
TheSunDaily here.

Have we ever wondered why Australian cities such as Melbourne or Sydney is not within these top 10 retirement cities? Actually, both are very different in their scope when it comes to the measurement. For example, these are the
top 10 most liveable cities in the world.

By the way, I did not see any Asian cities inside too.  These are the measurements, as per the article: The data came from the recent report by
The Economist Intelligence Unit
, which ranked 140 cities by looking at “30 qualitative and quantitative factors across five broad categories of stability, health care, culture and environment, education and infrastructure,” according to EIU.
(Notice a missing criteria? Yes, it is the cost of living. If I am super-wealthy, I would love to travel around these most liveable cities and enjoy it to the fullest. However, if I am not within the top few percent in the world, then retiring would mean managing the costs of living so that I have a good life affordably. Okay, if I am forced to choose a place to have family vacations in, I actually love Perth more than Kuala Lumpur. That’s my personal thought)

Looking a little broader, it is also important to note that if the best place to retire scores poorly on all other measures such as stability, health care, culture and environment, education and infrastructure, then the cost of living no longer matters. As a retiree, I would be very worried if I have no access to good hospitals, the country is forever in a chaos or even

the lack of public transport,

whether it’s the LRT, MRT or even GRAB or UBER as what we are seeing today. When I look at the list of the best places for retirement, I think it is important to ‘take the list with a pinch of salt’as well okay. Perhaps crime rate is going to be one very important factor for retirees too. Plus are there a lot of other fellow countrymen within the same city. This is the reason why when a certain city gains in popularity, it is usually the first city that will be considered by retirees from the same country too. Happy retiring in Malaysia. Yes, I think it is a good place to consider.

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written on 16 Jan 2018

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Best Property. Best Time. My Webinar session in KCLAU.com (1pm, 6th March)

KCLau.com
 is a site which I think every Malaysian looking to understand personal finance must go to.
Download the Money Management Survival Guide here too.
 It is thus my honour to be invited to conduct another Webinar on 6th March 2019 @ 1pm SHARP. Some explanation about the Webinar.

Topic:
Best Timing & Best Property. How do we know when and which? Register FREE asap.

According to Budget 2019, the Ministry of Finance (MoF) has announced stamp duty exemptions for first-time home buyers from January 2019 to June 2019 for properties priced between RM 300,000 to RM 1,000,000. It is among one of the initiatives introduced to encourage Malaysians to own, at least, one property.

Subsequent to the Budget announcement, SAYS ran a nationwide survey known as ‘The 2019 Malaysian Home Survey’ and have gathered responses from 8,598 respondents on what they thought about buying a home in 2019. From it, 7 out of 10 Malaysians would consider buying a home this year. That is a good start!

But, hold onto your horses. This survey has also revealed 3 major roadblocks to Malaysians owning their own homes. They are:

– 33% do not wish to give up their current lifestyles.
– 23% could not afford the downpayment of a property.
– 20% worry about making the wrong decision.

Personally, I like to address property-related issues in my next Live Webinar as I am truly for property ownership. This is why it is my honor to have Charles Tan, my friend who founded kopiandproperty.com to share his insights on the latest happenings in the property market and more importantly, share how you could find your most suitable property and buy it at the most suitable time. Here, we would discuss:

– Understanding the Latest Situation in Our Property Market.
– Balancing Our Preference and the Level of Affordability of a Property.
– Why Should All of Us Buy Properties Early, Statistically Speaking?
– What if the Property Market Crashes … ?
– Live Discussions. FAQs. and many more …

Click here to register yeah.
Cheers.

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The ‘best’ property will always be different for everyone

My views were taken in for an article in TheStar recently. “Finding the right Fit’  Do you face this situation? “Young people adjust more readily to displacement than elderly people, so it makes sense for younger members to populate the area around more elderly family members instead of expecting the elderly to move with them.”  If you do, just buy close to your loved ones. That will always be a good choice. If you not an original KLite however, there are lots of choices and it is increasing every year.

Enjoy reading the below. Else, click here for the PDF.
008_PULLOUT_SP03_NAT_17102017_DLY

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Best time ever or worst time ever for property market 2016

I have been asked nearly daily on what will happen to the property market since 2015 has been a bad year and 2016 is going to be another year we want to forget. Let’s not forget, 2014 was also a “so so” year and 2013 was the start of it all. My answer is as good as everything you read in the media; 2016 is another flat year. However, allow me to now ask all of us three questions.

Is demand for properties increasing or reducing? Based on transactions, it does seem to point to a decreasing trend? Do a survey among all your younger colleagues. Are majority renting or already paying for a property? If majority are renting, it meant potentially they may be buying one in the future. If they are already paying for a property currently, chances that they will be buying the next one or upgrading in the future is there as well. Yes, beyond the slowdown ‘haze’ the ‘rainbow’ remains present.

Has any financial crisis been forever? From the 80s to the 90s to the 2008 and potentially 2016 world economic recession. Read here:
Getting ready for the next global recession?

The answer is a brief, no. The crisis will come and affect every one. It will cause lots of hardship. Some economies may collapse or nearly collapsing. Some people may lose everything they have due to some greedy decisions. Well, there would also be many who would become richer after the crisis. The banking sector may be strengthened. There are always two sides to a coin.

Third question, do we really only want to invest in stocks, commodities, currencies and whatever other stuffs which we could not really ‘open the door, touch the walls and feel so enchanted that we own a place we call our own?’ I think property would always be an important variety in the investment world. Is this not what diversification or even don’t keep all your eggs in the same basket meant? Oh yeah, even if we intend to only invest in REITS, guess what, someone in that REIT organisation would still have to buy properties.

There is no need to look at it as the worst time or the best time. During the best time, majority of whatever you invest in may give you good returns. During bad times, a smaller percentage of what we invest in may give us huge returns. Only caution? Understand before we invest. Simply buying or following friends do not work in both good times or bad times. If you gain, it’s just pure luck. Just do not hope to be lucky all the time…….

written on 1 Jan 2016

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Best time to buy a property – when yeah? 2025?

Always that first question asked by many of my good friends. “When is the best time to buy a property?” If they are good friends, my answer is usually quite a long one. If they are acquaintances, I would usually tell them that the answer to the best time to buy a property is that they should decide based on what they believe. I mean everyone’s different, right?  So, my 2 cents better just leave to my good friends since I can be more direct with them, especially if what they think is not that relevant to the property market.

Photo by Pixabay on
Pexels.com

 Well, instead of listening to me, perhaps we listen to my good friend who’s a real property expert tell his opinion about the best time to buy a property. He is the immediate past president to FIABCI (Malaysian chapter) Sr. Michael Geh.

Article in freemalaysiatoday.com
  International Real Estate Federation Malaysian Chapter immediate past president Michael Geh said the five-year extension of the stamp duty exemption, aimed at reviving abandoned projects, would benefit both contractors and house buyers.

He also shared that the stamp duty exemption for the memorandum of transfer and loan agreement would stimulate the market further. It will move both the primary and the secondary markets in the property market.

He said, “The strong emphasis on affordability by home buyers in the budget will bring the Malaysian House Price Index downwards to levels that are affordable to most people. The next five years would be the best time for Malaysians to buy their first home.”   Do read the full article here:
Article in freemalaysiatoday.com

The best time is…

Mike shared that the best time to buy a property for first-time home buyers would be from now until 5 years later. This is because the stamp duty exemption is until 31st December 2025. Yes, that is more than 5 years from today but try not to wait until last minute yeah. There’s really no guarantee because the general election will happen by September 2013… These days, always plan and do because COVID-19 and even the US election has shown us that everything can be unforeseen circumstances…
If you like to know what else in Budget 2021 for the property market, click here.

There’s no best time

One man’s meat is another’s poison. Thus, the best time to buy a property is that there’s no best time. Please always understand that the same property belonging to two different people may end up with two very different results. For example, COVID-19 is here and two buyers of the same condo may both find it hard to find a tenant.

One may be able to hold on, the other may have to sell at a loss. A few years down the road, the one who was able to hold on would have good capital appreciation while the one who sold earlier has suffered a huge loss.  COULD we afford to buy? That’s a question we need to answer. Property market is not a pool where the only damage if we jump in is getting wet.  Property costs a lot more.

Conclusion

Start searching, understanding and evaluating. When it comes to property, best not to listen to anyone who’s pushing for the sale to happen. No matter how famous that person is because the person is looking to profit from what you buy. It’s hard to be objective if commission money is at stake. Promises can be sweet and yet deadly. Look at the 4Ps when we are evaluating. Here’s that
article about 4Ps; Price, People, Policy and Preferences.
  Oh yeah, keep reading kopiandproperty.com too. I think we are a good source of good information.

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That question of ‘best time to buy?’

A reader who was buying his first property asked me a few questions. How bad would the crisis be affecting Malaysia and whether he would be adversely affected if interest rates were to increase suddenly. Thus, is this still the best time to buy? He gave two very valid examples of banks restructuring and even quoted that Groupon is laying off staffs in many countries. Based on readings and the latest available numbers, my reply to him as follows:

Financial crisis, if it starts, will not be from Malaysia. Look at the Non Performing Loan numbers for Malaysia, look at the earnings of companies and even the foreign currency reserves which is still 1.1 times the short term debt and far higher than even that biggest economy whose currency kept rising simply because of expectations. Until today, Malaysia is still having trade surpluses every month. In comparison, until today, for past many year that particular economy continue to have trade deficits and in other words, it kept borrowing money to cover these deficits. Yet, look at the strength of its currency today which has risen versus majority of any country in the world. Anyway, I don’t want to predict what will happen to such economies or how long can a country keep having trade deficits.

World economy wise however, there are lots of signs that the whole world is slowing. Malaysia’s second largest trading partner, China is slowing down a lot. The Europe is still very vulnerable and that’s not just Greece. ASEAN economies are not considered good currently. So, yes, the times are really tough and the conditions are definitely very volatile.

Many global banks and even other banks have been restructuring for higher efficiency. That includes Malaysian banks too. As a trend, online is becoming key and it is not a clever move to hold so many extra staffs. As for Groupon, it  has not been doing well in some markets for many years. It is not a sudden case happening due to current market situation. Many manufacturing concerns are also closing down its less efficient plants which are no longer cost-effective. As usual, when orders recover these plants may ramp up again. Truth is, all these are happening all the time but during bad times, all these news suddenly become so big and huge. As long as the restructuring helps these organisations become stronger, I actually view this as a good move. Short term is bad, of course but do we really want all companies to be inefficient and a domino effect when the situation gets tougher?

Back to the question, is this the best time to buy? Well, the better question is to understand our own financial standing. Are we ready to buy? In other words, are we buying something we can easily afford and not overs-stretching simply for something to make others say, ‘WOW,’ but you struggle to pay every month?

Second question, if an economic crisis strikes, do we think we can still keep our job? Note, if our company is not really doing well even during good times, we should be a little worried. Well, for performers such as the top sales person or the role shortage ones like Accountant or Programmer, I think maybe these professions are quite safe.

Third question is about the interest rate increase. How much can we withstand the rise? 1 percent? If our answer is 1 percent, I think we are okay for a long time more. The current interest rate is needed to help encourage economic growth. Increasing it will slow growth and increasing it by 1 percent is quite improbable. I have not read this from any analyst or economists predicting this within the next 12 months. The rate increase is said to be able to stem further fall in ringgit but what we do is no match for the expectation of US rate increase. Thus, any positive effects are likely to be temporary. I am not the BNM governor, so this is just a personal opinion.

Once we have answered all these questions, we would learn that there is no such thing as the best time to buy. To some of the buyers with deep pockets, the best time to buy is when everyone sells. Perhaps a better answer would be to buy when we are ready. If it is just to show off, then don’t buy. Besides even if we do not buy, we would have to pay rental anyway. If we stay in our parents’ home, please lah, pay rental too. They paid so much for us already, don’t burden them too much. Happy deciding and making your own decision based on your own financial standing.

written on 28 Sept 2015

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How agents can be better agents (Real Estate Negotiators)

I received an SMS from a Real Estate Negotiator (REN) recently. She asked if one of my condo units were available for sale. I told her I have already sold it earlier but I would love to know if there are any apartment / condominiums that I can buy for RM250,000. She SMSed me a reply. In her exact words, ‘RM250,000 can only buy a flat.’ I am sad.
If she is a good agent,
 she should at least note that for RM250,000 there are definitely choices around even if it may not be those luxury, high density or even the usual more popular areas. Sorry to have some expectations for RENs here in Malaysia because I feel that if you are earning a commission from me, it should involve much more than just some calls and accompany me in my viewing.They should preferably have the following:

More knowledgeable than the average buyer.

Truth is, a REN who is able to also give professional advice is much better than one who knows nearly nothing and only focus on just the price, the price and the price. The person should at least know what’s the overall property market of today. It is not enough that the REN knows about slowdown. The REN should know where some opportunities may be.

Be an investor themselves.

Yes, if you are also an investor, it will force you to know more than just simply buying. Once you are an investor, you can then speak the language of the buyer too. Besides, once you are a buyer, you would quickly note that not all condos are RM800,000 and not all flats are RM250,000. Come on, if this is the case, bubble has burst long time ago. Have the fears that the buyer has as well.

Good listener and communicator. If someone asked you a specific project with a specific target price, chances are they already have some prior understanding. It does not hurt to ask a few more questions after running some search online. Chances are the buyers can feel that you are pro-active and serious.

See, my requirements are so few and I would already treat you as a good REN. Yes, I have many REN friends who are excellent in their fields. Perhaps that’s why they are doing very well. Okay, maybe all these boils down to the inadequate property knowledge training from their agencies. If this is the case, then I think my article is aimed at the agencies. Are you a good one or just another one of the usual, ‘I know little’ type of agencies? Happy soliciting services from those who know very slightly more than the usual buyer.

written on 1 June 2015

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Better career, more money in Singapore

A friend said, with my salary there is nothing I could buy. It is time me to look for a job in Singapore. I look at her and replied, yes, for you I also think it is best that you work in Singapore. I do not think she is someone who works very hard or on a continuous learning cycle. I believe there are a lot of Malaysians work in Singapore because they are too good or advanced for their fields. Perhaps there are not enough of such positions for them here in Malaysia. However, many are also there for the potentially wrong reasons. They believe they can grow in their career faster and earn more money. The truth is, as long as you are a top performer, you can grow anywhere. Malaysians, are there many things which we are not good at? Both good and bad?

In terms of the second reason, earn more money, it depends on how you intend to use the money earned. If you intend to earn S$ and would like to stay there, then let me be honest with you, you would not necessarily be living better than someone who works as hard as you and earns as much as you in terms of figure. However if you intend to be there, rent the smallest and cheapest room possible and eat economy bee hoon and one egg for breakfast, chicken rice for lunch and roti prata with dhal curry for dinner and save as much as you can from your monthly income, then my friend you are right. You will be earning lots of money because you are earning 2.5 times or slightly more today.

If you are able to just save S$1,500 per month for 2 years, we are talking about S$36,000 which is converted to RM is RM90,000.  This is sufficient for 10% downpayment for two RM300,000 properties leaving you with more than sufficient for a fully loaded Proton Saga. Rent out one room in the property you are staying and rent out the whole unit in the other one. You will find that in a few years time, your property may have appreciated sufficient for you to sell it, go for a nice holiday, buy another property and still have a little bit of savings.

If you have the discipline, yes, it is true that if you work in Singapore, you will earn more money. Sorry, may not be true on the career theory.

written on 2 jan 2014

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Measure of a ‘better’ city? Cinemas.

Perhaps 4 years ago, I had a ‘debate’ with a Penangite who said Ipoh is nothing more than a sleepy hollow and that given a choice no one would stay there. In fact her sister who is working in Ipoh said there is nothing in Ipoh beyond just ‘Nga Choy Kai’. I asked her to define a good city to live in. She said many points which I rebutted point by point that Ipoh has them too. Things such as great food varieties, nice places to visit and even medical infrastructure and more. In my articles everyone would see that I have never said Penang is not a good city to live in. However, to provide a typical reply about Ipoh, you better have much more stronger points. Ipoh is DEFINITELY not a sleepy hollow.

Well, another measure which all of us did not notice all these while would be the cinemas. Yes, cinemas. All those mumbo-jumbo terms about how awesome the cinemas are would tell you if the city has the best or just the basic one. Recently, Ipoh has one new addition to its cinema scene; the first ever GSC Maxx built with the first multi-dimensional cinema audio technology – Dolby Atmos. If you still do not know what is this, me too. However, do note that this is the FIRST ever in the NORTHERN region. Well, so much for any argument when it comes to cinemas until Penang has it as well. For now, for the best experience from a GSC cinema, drop by Ipoh. It is also the first cinema in the ENTIRE GSC chain to be equipped with a 4k projector for higher image resolution and brightness.

Okay, let’s be negative a bit. Perhaps this is because they needed to ensure the technology is working well before they move it to Penang? I think this is the real reason because you do not normally use your larger market to test anything new, do you? Let me provide three real reasons why Penang is a better city than Ipoh, at least for now. An international airport sets the two cities apart tremendously. You can drop by Penang from many more cities and countries versus Ipoh. Second reason is because of the electronics manufacturing. Penang is already growing non-stop when the first bridge was completed and Bayan Lepas Industrial Park started. Ipoh is nowehere near despite having some international manufacturing setups. Third reason is Penang is considered a hotspot for urbanisation while Ipoh is merely the main city for Perakians from smaller towns. Yes, even as a loyal Ipohan, I can still be very objective and tell you three reasons which has contributed to the reasons why people think more highly of Penang. However, one more sentence about Ipoh being a sleepy hollow or just for nga choy kai, you better be ready. Happy buying in Penang, sure. However, happy enjoying Ipoh. Yes, it’s true Ipoh is a great retirement haven too.

written on 19 Feb 2015

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Better Employment. Great reason to resign but what is Better Employment?

I know, I will get more clicks if I put the title of 72% of Malaysian employees want to leave Malaysia and look for better employment elsewhere… Haha. Sorry, I am not going to do that.

There was this one recent article which says that 72% of Malaysian employees would want to resign and leave the country to look for better employment. Here’s that article:
Article in theedgemarkets.com
  A research by Employment Hero from 1,004 employees showed that 69% of Malaysian employees love / like their job.

However, at the same time, 72% of young Malaysian employees are considering leaving the country for better employment opportunities. This is said to be significantly higher than neighbouring Singapore which is at 55%. Main reason is better pay and better career prospects. Feel free to read the full article here:
Article in theedgemarkets.com

We will look at some of the typical reasons people resign but I am also surprised that Singapore has 55%?? That’s very high too by the way since many Malaysians think about going to Singapore to work and yet in Singapore, 55% of them are thinking of leaving and working elsewhere. I wonder where. Coming back to some reasons to resign.

Somehow most of my friends also think the next job would be a better one

By the way, I can safely say that majority of the conversations about career with friends would reveal that most of them are thinking of changing their current job. Some said they felt overworked, under-appreciated or even underpaid based on market salary. Many other reasons were stated but generally the main reason is because they want a better job; better employment. Let’s look at some of the better employment reasons yeah.

#1 Higher Salary

Just remember that if we are moving for higher salary alone, soon we will be doing the same role but for a much higher pay. Perhaps we are lucky and the company loves us and continue to overpay us for the same responsibilities. This is dangerous yeah.

When someone else could do the same or better than us for a lower pay, we could be replaced easily. This is why moving to another job of the same type of work but for higher pay may not work out in the long run. Of course I hope anyone doing this will always be lucky and can keep getting higher pay and not needing to do more.

#2 More Important Role

I would resign for a more important role (higher responsibilities / level upgrade) even if it meant getting the same pay. Remember, the more important role we take up, the fewer people there would be in the market who has those experience and skills.

What we gained would soon be valuable and in a market of demand vs supply, it’s a matter of time before another employer thinks we deserve a much higher pay. By the way, if the current employer wants to retain us, they would also pay a higher pay too.

#3 Better Benefits

Sometimes, we got tired of having just a basic salary and no other benefits. So, if a company offers higher annual leaves, more incentives, extra allowances, extensive insurance coverage etc, we may also want to resign and leave too. By the way, even a nicer office will sway the younger professionals to leave their current job yeah.

In fact some companies also offer free coffee machines and I think we know some companies provide lunches cooked by chefs too! I also know of companies where they have in-house gyms too. Salary is no longer the only thing in any employee’s mind today.

#4 Higher Interest / Passion

Some of us wants to feel alive in what we do at work. Life is just too short to be working in a job which we have no passion / interest just because it pays us a salary every month. Of course this is not for everyone yeah. Some may just want to be safe and continue working and get that salary and then continue to complain that they felt bored.

However, this can be a very good reason to change job because when we work in something we are deeply passionate about, we either become very successful faster or our motivation always stay high and we are always happy to go to work every day. That’s great for the financial part or great for the health part, both are good reasons.

Just need to remember that the interest / passion should also be something the market appreciates yeah. Else, you will just have the motivation part and not the monetary part.

#5 Other Circumstances

There are also many other circumstances too. Perhaps we like a job which is nearer to our home. Hey, if it’s nearer to our home, we save a lot of time, a lot of travelling expenses. We can even have time to send our children to school and pick them back versus engaging services of others which will actually be higher expenses. Remember, if we send, then we also have closer relationship with our children too.

Conclusion

When someone asked me if they should sell their property, my answer is that they should know what’s the purpose to sell the property. If there are no valid reasons, why sell?  It is the same as resigning. If it’s for a very valid reason, by all means go for the new role, perform at it and move up the career ladder faster. Everyone has that special push in them when they passionately do something to the best of their ability. Happy deciding about the next Better Employment.

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Better phone vs too many other stuffs

I was really contemplating on the new OPPO F1s. My wife bought one just last month and has been enjoying it a lot. For me, it would be an upgrade since the current one has served me for past three years. Three main reasons? Better camera, bigger screen and to be on par with richer friends. The third reason is just for fun because my friends love me for who I am instead of the phone, I believe.
Better camera is needed because when I take photos with my wife’s new phone, my current Find 5 mini looks bad. Haha. Bigger screen is good because I have written a few Kopiandproperty.com articles using my current OPPO and it’s tough. Older means ever harder to concentrate on a small screen. Haha. So, what’s the final decision? I decided to spend the RM1,100 on something else BUT I did buy a NEW plastic cover to cover up my current OPPO. I spent RM29. Now I have a “new” phone! (Image of the cover) My wife said the cover looks nice. My colleague said it made me look trendy. I am happy.

I think I will still spend the RM1,100 plus though. Perhaps on a medical check up to get to know how my body is doing. These days, medical check up is expensive and yet not doing may mean that we do not take enough precautions before it’s too late. I am no longer that young.

Come to think of it, this RM1,100 could even be sufficient for a Langkawi short trip for my whole family of four pax! Flights – RM400. Hotels for two nights – RM400, Car Rental x 3 days for RM200 and I still have RM100 for meals. Haha. Okay, perhaps I need more than RM1,100 but if I spend it like this meant the whole family benefits. More happy times with family is always a good thing.

I just remembered. My current tyres are already 50,000km old. Based on the thread condition, it should last till 60,000km but since I am carrying my family day in and day out, perhaps 4 new tyres would be safer. Yes, it’s about RM1,100. Once changed, this should last me the next 3 years.

Actually, there are a lot more reasons for the RM1,100 which I am saving currently. It’s always a choice between doing what’s needed first versus what’s wanted. Of course, if my phone got stolen tomorrow, I have no choice but to change it. So, if you see me holding a “new” phone, there’s no need to ask. You already know where the money intended for a new phone went to. Happy owning a new handphone though to those who’s different from me. We should celebrate diversity.

written on 13 Oct 2016

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Better rent to me at a lower rental, or else…

For some readers, I wrote before that if my tenants are really in trouble because of COVID-19, I will provide them 50% rental discount. I meant for the good tenants. Not for all tenants. Of course, they will need to provide some proofs that they really need that discount. Now, what happens if the tenant is crying wolf? What could be the action of the unit owner? This is where that power balance between the owner and the tenant comes into play. Briefly, it’s about who needs who more?

Tenants’ negotiation POWER.
 If the tenant could easily get another unit within the same development, then of course his negotiation power will rise and hit the roof. Alternatively, if the tenant could rent another unit at another nearby development which meets all his requirements, then of course his negotiation power would also rise and hit the roof. Now, what if the tenant MUST have that unit and is currently renting the unit for a very low rate versus all other similar units within the development?

Owners’ negotiation POWER.
If the owner could NOT get another tenant easily for his unit, his negotiation power is likely to be low. He better give discount in rental for now. If there are many other similar units and the rental is similar or even lower, then the owner’s negotiation power has also diminished. He may have to agree to some rental reduction especially during the current period where it seems that businesses have been hit hard due to closure of offices. Now, what happens if the owner knows that his unit has been rented out a low rate versus every other units within the development?

Are there other units?
Whether the tenant was renting at a low rental or the owner was renting out at a low rental, the power will shift to the owner as soon as he understood that similar units may not be available. He may choose NOT to provide any discounts. The tenant may give a warning that he may move out. Situation will quickly turn into a bad one. The owner may tell the tenant to give notice and move out…

OH DEAR, ending soon.
The tenant may now argue that he still have a tenancy agreement until XXX date. If the situation could still be salvaged, then perhaps both will come to an amicable agreement. Win-Win for both parties. Else, that’s the end of the tenancy.  Tenant will have to find another unit somewhere and the owner will advertise for a new tenant. This happens all the time, whether or not there’s a COVID-19 pandemic going on.

BE PROFESSIONAL
. This is why tenants should also be professional and not just the owner / landlord. This is also why whether you are a tenant or you are a landlord, do sufficient research before trying to push the other side to accept what you are offering. Do not be misled into thinking that the power is now with the tenant / buyer, so all these sellers must be desperate like crazy. There’s always that limit / balance which both sides would have to adhere to. There has never been such a thing as a total buyers / tenants market.

There are definitely owners who still refuse to rent to you if your rental request is plainly too low. Would I rent out if the rental gives me a negative return? Yes, I may because of current situation. However, would I reject any tenant who is unreasonable? Yes, I would as well. I think some owners / landlords are also like me… Happy understanding and may both sides get good people; tenants and landlords.

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Better sentiment or better pricing and higher transactions.

Last year, the Malaysia Property Expo – Klang Valley (Mapex-Klang Valley) captured a total sales of about RM563 Million. This meant buyers who visited the fair bought a total of RM563 million worth of new properties. 2014 was considered a slow year. Seriously, I thought 2015 would be a worse year. Negative sentiment from 2014 is continuing, Ringgit is still weak, GST had just been implemented and oil price has hit a new low. However, if based on the expectations from the Mapex – Klang Valley 2015, it is not so. In fact, the organiser, Real Estate and Housing Developers’ Association (REHDA) said that they expect the total sales during these series to total RM1 billion.  Yes, in percentage, that’s 78 percent higher for 2015 versus 2014!  Venue is Mid-Valley  and the event dates are as follows: Mid Valley Exhibition Centre from April 3-5; then Sunway Pyramid Convention Centre (July 31-Aug 2); and, Mid-Valley (Oct 30-Nov 1).

So, is the sentiment better in 2015? I do not think any reader would dare to claim that the sentiment is better in 2015. After all, until today, Goods and Services Tax (GST) remains a negative issue and comments are never ending. Developers also kept reminding everyone that with GST, the property prices that they will sell will definitely be adjusted higher. Even the customs agree that there may be some adjustment upwards even if the percentage is likely to be low. So, the answer is simple, sentiment has not been better but it has become worse due to GST. Oh yeah, secondary is not affected by GST. Read here:

Buy secondary. 30-40% cheaper.

Perhaps the better question would be, is demand still strong? I think the answer to this is a firm Yes. However, can demand translate into actual sales? For this question, it really depends on what is on offer. For a newly wedded couple, SOHO may still be applicable but for a family expecting a baby or is looking for an upgrade, then size and price comes into play. Come on, a family of three or four will find anything below 1,000sf to be a little uncomfortable. Thus, are there still new condos with size of about 1,000 or higher which is still ‘properly’ priced? I said ‘properly’ because it depends on the location as well. Even for so-called hotspots, if priced too high today, the developer is likely to struggle. Perhaps after 1 year, the same project would still be offered as ‘limited units available.’

From the above, I think it is likely that the projects on offer in the Mapex-Klang Valley 2015 is attractive. That’s the reason the organiser (REHDA) is quite confident about hitting this new sales number for 2015 versus last year. In fact it was announced that a total of 240 booths have been taken up and there would be up to 20,000 units of residential and commercial units being offering during the show. In fact a total of 50,000 visitors are expected as well. When compared to the baby fairs or even job fairs, this 50,000 is not considered high but for property, 50,000 interested people is a very good sign. Demand is alive and well still, even in 2015. Happy visiting or house hunting.

written on 5 Apr 2015

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Always beware with what we buy; due diligence needed

Do you trust everything your real estate agent tells you? Well, even if you trust him / her, it’s best to understand what you are actually buying. This is especially if the property is overseas where the rules and regulations may be different from the one at home. The reason is because sometimes, even the agent himself may not be sure and he may have given you wrong advice. In other words, he is not the one trying to cheat you but the end-party may cheat him and subsequently cheated you as well. Once the milk is split, it’s already too late to do anything.

One such incident was reported in
propertyguru.com.sg
. Singapore’s Council for Estate Agencies’ (CEA) Disciplinary Committee has fined SQFT Global Properties Singapore $10,000 (RM31,000) for failing to supervise the conduct of one of its former agents on the sale and marketing of a property in Auckland, New Zealand. The ex-agent, Paleenia Wong Mui Wah, was also fined $6,000 for misrepresenting facts of a purchase to an investor. Wong assured the investor that the money paid (NZ$65,000) would be kept safe in the trust account and that the developer could not withdraw it for other purposes than for construction. In June 2011, however, the developer took the money from the trust account without any construction having started on Albany Heights Villas.

Subsequently, the developer went into liquidation in February 2013 and the investor lost the money paid. Main reason for the fines, according to CEA was because neither SQFT nor Wong conducted proper due diligence checks on the ANZ account. CEA further shared the following, “Given the complexities and risks involved, consumers should find out and understand pertinent information such as the foreign country’s rules and restrictions on property purchases and ownership, whether the property has obtained approvals from the authorities, taxes payable, pricing and terms and conditions of the purchase, the foreign property market condition, currency exchange risks, etc.”

I think this case is a clear example that even when the industry is well regulated, in this case Singapore, the property purchase may still face issues because it was not in Singapore. Instead of assuming the agent or the agency knows best, buyers should also assume the responsibility. The loss is ultimately the buyer’s even if the CEA may fine the agency in the future. Stay safe dear Malaysian investors.

written on 8 Dec 2016

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