7 great reasons why secondary property market is worth a closer look.

I purchased my first property from the secondary property market in 2002. This was followed by my second property from the primary market; developer in 2007. Then, my third property was a secondary property in Kelana Jaya and my fourth was a new unit from a developer in Kota Kinabalu. Just from the first 4 purchases, clearly, I have no particular preference for the secondary property market or buying new. In my personal opinion, secondary property market is not a secondary choice. Please let me share why.

#1
Essence of time.
 Why wait? If we need a place to stay sooner than later, then the secondary property market fits the bill. You view it, you like it, you pay the deposit for it and well, within a couple of months, you may move into the unit from the secondary property market which is now your primary home sweet home.

#2 Attractive Price
 Deciding which property to buy is emotional by the way. We see a condo from the secondary property market and we felt that the condo has started to show its age. The paint on the building no longer shining brightly under the sun. The tiles within the condo has shown some wear and tear and so on. This is why most of the time, we are only willing to pay lower for a similar condo versus a totally new condo which was shown impressively in the sales gallery.

#3 Choices are plenty
 There are definitely more choices in the secondary property market versus new launches. In fact we could even choose by the number of years that the property has been completed. We could choose the ones where we could see a lot more families are staying. We could even choose the one where every time we were there, there were no traffic jams. All these may not be apparent for new properties, yet.

#4 What you see is what you get
  No nasty surprises.  Remember, there’s the chance that when you receive the key to your newly completed home, you may need many hours to list down the defects which seems to have no ends.  When it comes to secondary property market, what you see is what you get. What you buy, is what you will get. The neighbour beside you, that’s also what you will get too. Okay, problems happening after that is no longer the responsibility of the ex-owner yeah once you become the new owner.

#5 Renovation starting earlier is possible too

 I did not say this is totally possible but in many cases, when it comes to secondary properties, it is possible to negotiate with the owner for access to the property earlier so that your renovation planning can start sooner. Yes, as an owner, I have granted this flexibility before as long as all the documentations are already completed and I have confidence with the buyer. No right or wrong, some owner may just prefer to complete everything before giving you the keys.

#6 Savings from renovations too. (if you could accept them)
 It’s a plus if the unit from the secondary property market has renovations which meets your expectations. This saves you a lot of money by the way. For example, 15 feet of kitchen cabinets (top and bottom) would easily set you back RM8,000 – 10,000. (depending on the type and quality). If the tiles come in your favourite colour, that’s another 5-figure saving depending on the size of your unit. Okay, perhaps that sofa set can be changed lah… Haha.

#7 Rent it out quickly
  If the purpose of the purchase is for investment, for rental returns for example, then the secondary property market provides that almost immediate start right after getting the keys. Even more importantly, you have an idea about the rental in advance since the information could now be easily available from the many units being listed for rental currently. This is not the same as new properties because the developer may need some months to rectify the defects.

By the way, secondary property market accounts for 80% of all property transactions yeah.
An earlier article in nst.com.my here.

Remember yeah, renting a place may be cheaper but rental does not stop just because your income has stopped. Besides,  renting a place will make the owner richer. Buying a place would make you richer in the long term too.

The most important thing is that you love what you buy. To love what you buy, you need to get to know what you buy. To get to know what you buy, it is important to view, view and view before buying. Property investment starts from the second property onwards. Buy your first one, enjoy it and perhaps upgrade in the near future. For those with kids, it is even more important to hedge for their future with property investments. Whether it’s secondary or new ones, I wish you happy buying.

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7 reasons why we should start buying a property

When we buy our first property, that’s just buying a property. Our investment journey starts from the 2nd property onwards. (Yes, I am writing a book to focus on that 2nd property onwards. Please wait for it) As for those starting with 5 properties or even 10 properties, that’s called GAMBLING. I represent the working population of Malaysia and I have been working since July 1998. So, that’s over 20 years of non-stop full-time employment. I bought my first property in 2003 and my most recent property in 2017. So, a total of 14 years of property investment adventure as a working professional. Here are 7 reasons why we should start this journey / adventure.

#1 – Retiring with SOME serious money. How many of us will retire with half a million in savings? Well, buying that affordable property of RM250,000 today will ensure that by the time we retire,that home is half a million ringgit or higher.

#2 – Forced to save. Assuming we are able to save RM1,000 per month for 30 years, together with compounded interest, this monthly savings should give us half a million ringgit or more. Question: Without the banks forcing us to pay the mortgage every month, how many of us could save every month?!

#3 – No wastage because nothing left to waste. A fresh grad may have to skip avocado toasts, Starbucks and even changing a new smartphone model every year in order to pay for the monthly mortgage. Well, one is becoming an asset. All the rest are just ‘rubbish’ after some time…

#4 – Property investment is easy.  I am dead serious. Read more, survey the area, browse articles online (including kopiandproperty.com) and hey, the mistakes are totally minimised. If you do not believe me, ask 10 people who owns a property they bought over 5 years ago, how many are LOSING money even in today’s slow market…

#5 – Opportunities still aplenty and future is bright.  Look to advanced property markets. Suddenly we realise it’s advantageous to be in a growing and not mature property market. 😛 On a longer period of time, regardless of whatever property cycle or the time on the property clock, property prices rise with income. (Unless most Malaysians stop receiving increments..)

#6 – Leverage (It’s usually 1 to 10!).  Property is the only one where you pay just 10% downpayment or lower and the returns are based on the overall property price and not based on your downpayment. RM10,000 may be your downpayment for a RM100,000 home. The price increase is NOT based on your RM10,000 but it’s based on your RM100,000. Savvy?

#7 – Everyone needs a home, somehow. Unlike cars or handbags, without a home, we have nowhere to go. Of course we could also rent but this is a basic need; shelter. This is why the demand for homes will continue to grow. Demographically, Malaysia is only 29 years old (median age).

I could go on and on but 7 is my favourite number. I hope these are enough to get you started. Finally, I just want to also say that property investment will also allow one to be able to determine if they should leave their bad boss or stay and suffer. I already have many peers who are semi-retired today.  None of them are due to the stock market, nearly all are due to property investments. Do not speculate, do not gamble and it will be safe for a very long time yet. Happy starting your journey.

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written on 10 Dec 2018

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7 reasons why property price will still be rising…

I know many wants to buy the best property money could buy today. However, the best property one could buy today and many years later will not be the same. In fact that best property today may look old and jaded next to a new property in the future. By then, should we not upgrade so that we could then stay in a better property than what we bought today? Think about it. The only important thing is to buy as soon as we could afford and not when that best property is now within our salary’s reach. Here are 7 reasons why property price will still be rising. (not the overvalued ones okay…)

#1 – Salaries will still be rising. I know, someone wanted to say that the fresh graduates are having almost the same pay today compared to 10 years ago. Fact. Today, there are by FAR more Malaysians earning salaries of over RM5,000 compared to 10 years ago. Today, there are also by FAR more Malaysians earning over RM10,000 per month than 10 years ago. This is why they could afford to pay higher.

#2 – Costs will still be rising. I am not sure about you but I remember long time ago, cement was just a few ringgit per 50kg. Today the prices are many times higher. Land prices was also a few ringgit long time ago. Today, if it’s a small plot and it’s nearby KLCC, it’s safe to assume that even when one bids for it at RM1,500 per sq ft, chances are, they will NOT get it.

#3 – New catalysts will continue to come. Let’s remember those times when there were NO Petronas Twin Towers and KLCC area. Prices were cheaper… Let’s remember those times when there were no MidValley Megamall. Remember those days when The Curve and IKEA was not yet in Damansara? How about areas with popular LRT stations today and future MRT stations? All these continue to push attractiveness of a certain area and when demand increases faster than supply, prices move up.

#4 – Urbanisation rate. In case we wonder why prices in major cities rise faster than small towns, that’s because of career opportunities. When more people graduate (over 350,000 tertiary graduates per year), they will move to the major cities such as KL, Penang, JB and KK to work. Demand for properties will grow. Assuming one landed home could be rented out at RM500 per room and there are 4 rooms, that’s RM2,000. The property price which used to be just RM200,000 will now double to RM400,000 because new buyers use rental yield as a benchmark.

 #5 – Preferences. Somehow people wants proper gated & guarded homes. Somehow if they could afford, they also want a clubhouse or for high-rise, they want more than just one car park, they want more than just a small swimming pool and they prefer to have a very well equipped gym and a landscaped park. All these meant that the cost per unit will rise and this will push up prices too.

#6 – Malaysia is a follower.  Frankly, if the property prices in advanced property markets had stayed stagnant without any movement, our (Malaysia) property market prices would have stayed the same too. However, when the whole world moves, it’s hard for Malaysia not to move. Every time people talk about affordability and they look at Australia, Hong Kong and even Singapore, we are actually nowhere near them yet.

#7 – Owners hate selling at lower prices. I have asked listeners of my talks this question many times. ‘Would you sell the property you bought at a lower or a higher price?’ The answer is 100% YES for Higher thus far. Let’s remember that prices move up or down when there are transactions. If owners are selling higher… Developers of the same township are also selling slightly higher every time they launch new projects within the same townships. I have not heard of any developer selling ever lower every time they launch something new. If you know, please tell me!

There are many other reasons but I think 7 is more than enough to tell everyone that property prices will only be dropping when there’s a financial crisis. Well, there was the 1998 financial crisis and the 2008 sub-prime crisis. What happened to the property prices then was that it fell… slightly but today, prices have already recovered and moved higher than 1998 or 2008. If a financial crisis do happen in 2019 for example, the prices may again drop but the question we should ask ourselves would be, ‘Would we recover?” If the answer is a YES, buying is still safe. If the answer is NO, I have no answer for you. Happy believing.

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written on 13 Dec 2018

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7 Reasons why Real Estate Negotiator may be your career of choice

Study hard, work hard, earn good money. Agree? Well, that depends on how you term ‘good’. Is a fixed salary of RM3,000 considered good? Depending on your age, maybe. However, if you intend to earn more than that? Well, if you are a fresh engineer, you can also take up part time job as security guard in your condo. That should give you another RM1,000 every month. In Singapore, the typical median income is around S$3,400. Not too bad but as soon as you intend to buy a property there plus a car for real convenience, you would realize it’s very little. While I am not a real estate negotiator but I have many friends who have done very well as an agent. In fact the good ones do much better than me financially by far.

Do you want to know what it’s like working as a Real Estate Negotiator with an agency? Let’s listen to what my friend Barry of Chester Properties Melaka has to say if you intend to become one.

1. Flexible working hours. You are your own boss. You choose when you work and your off day. Unfortunately this meant that if you decided to work just 1 day per week, I wish you all the best.

2. Unlimited income. You decide how much you want to earn based on your own goal. This is something you can never have with a fixed income job. Most importantly, can you imagine everyone stopping to buy property and sleep on the road instead?

3. Expand your networking, your business associates as you meet with various type of people. It is always who you know that will determine your success. This is true no matter what job or position you may be in.

4. Work life balance. No OTs. Not many wants to view houses at night. Do ask your friends who are accountants, ask them what time they reach home during the monthly closing or when annual reports are due.

5. No office politics. There is little need to care too much about what your other colleagues say about you. You work at your own pace and need.

6. There is no need to ‘brush shoe’ to get a promotion. You are who you are based on your credibilities and hard work.

7. No more ‘yes sir yes sir 3 bag full’. There is no need to always say great things about your superior. Even if he is useless, he does not determine your success. You do. Lolz…

Now if you are really serious in joining as a Real Estate Negotiator, find a good agency. Ask if they provide trainings. Ask if they have sharing sessions where the branch lead would assist new people. Ask around if that agency is really serious in what they do. Most importantly, if the agency tells you that they ONLY use traditional media, I think you better skip them. Or else, all the best to you. Of course if you happen to be in Melaka, join Chester Properties Sdn Bhd (Melaka branch). Just call and look for Barry. Contact info for Chester Properties Sdn Bhd (Melaka Branch) – 336A, Jalan Melaka Raya 1, Taman Melaka Raya, Melaka. Phones: 012-2316808 / 016-2388308

written by Barry, edited by Charles.

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7 Super Stylish Homes That Cost RM100K and below

Itching to redo your place, but find yourself short on the big bucks? It’s still possible to get your home professionally designed with all the bells and whistles within a reasonable price tag. Draw inspiration from these sleek and style-conscious designs that won’t exceed your budget.

Send a free quote request
here
 and Qanvast will recommend you up to 5 interior designers that suit your style and budget. 3 homeowners will walk away with **RM100 Tesco vouchers when they submit their quote request in May.

Tropika Putra, RM100,000

The different furniture pieces blend together under a common colour theme. From the unique lighting fixtures to its Scandinavian inspired dining area, you can be sure to find any corner that’s Instagram-worthy in this home.

Interior Designer: ID Industries

Get Quote
here

Adda Heights, RM85,500

This charming place is filled with warmth and good taste. White and wood never go wrong if you are keeping things uncomplicated. Who said simple cannot be stylish?

Interior Designer: MODS Design

Get Quote
here

The Light Collection II, RM100,000

Keep things neat, clean and sleek with this monochrome home design. White shelving, countertops and cabinets gives an almost-minimalistic feel when you step in. The ceiling light and curtains adds a pop of colour and personality to the entire space.

Interior Designer: TTY ID & Construction

Get Quote
here

Quayside Condominium Type A, RM70,000

Save space and add a twist with this open kitchen layout. The homeowner opted for a standout wood flooring that transform the entire look and feel of the living room. Playing with different lighting lengths helps enhance the sense of contrast in this chic condominium.

Interior Designer:
Grazioso

Get Quote
here

D’Lagoon, RM73,000

The contrasting hues of darks and lights are timeless and elegant. Tall and classy French-ish curtains make for the perfect backdrop while fresh, white counters play nicely in a medium kitchen.

Interior Designer:
Morse Interior Design

Get Quote
here

Casa Tropicana, RM50,000

Wrought with attention-grabbing pieces, this home just screams cool. You can see the mix-and-match scheme everywhere, from dual tone chairs to varying lighting fixtures and even perfectly mismatched furniture ensembles.

Interior Designer : Kech Design Studio

Get Quote
here

Sri Ampang Hilir – Type B, RM90,000

Chill out in this ultra-comfy space, you know you want to! Earthy and neutral tones surround this area and its ultra-calm vibe is completed by a combination of pastel hues in the living room.

Interior Designer: Senterior Design

Get Quote
here

This article is done in collaboration with
Qanvast
, a trusted platform that connects homeowners and home professionals.

Discover over 15,000 home inspiration ideas, with breakdown on renovation prices. Simplify your renovation journey by downloading the Qanvast app. Download it free from
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7 Things about Home Loans we should know before applying for one

Here are 7 things about home loans we should know about before applying for one. Actually, in order NOT to be rejected, please read #1 first before signing on the Sale and Purchase Agreement yeah.
Remember, banks love to lend us money.
However, if we do not qualify for one, they will play safe instead of having our loans under their
Non-Performing-Loan (NPL) category.

#1 –
BORROW well within our means
. Do not overstretch ourselves for a home which will stretch us to the limit every month. It’s totally possible to upgrade later. Better investors do this too instead of plowing everything they have into one property. Buy based on NEED first. Because of this, it is important to equip ourselves with knowledge about home loans.

#2 – Types of loans.
 There are many types of loans offered by banks. Some of them include overdrafts, deferred payments, term loans, flexi-loans, Islamic financing, interest-only loans, and a variety of others.  Ask the loan officer about your options before deciding which one fits you the most.

#3 – Home Loan lock-in period.
Several financial institutions will require us to maintain the mortgage with them for a number of years. Uusually it’s around 1-5 years. Within the lock-in period, one is not allowed to switch to other banks or we will be financially penalised. Generally, home loans with lock-in clause has a fixed interest rate. A good thing about this is that it gives us the stability and security of a fixed monthly repayment.

#4 – Fees and Charges.
Beyond just down payment, property price and monthly repayment, a home loan application will come with professional and government-regulated processes such as loan agreement, stamp duty, legal fees and a handful of others. These are normally sustained by the buyer. Understand these costs by asking the loan officer.

#5 – Interest rate.
 The interest rates differ from one bank to another. Bank Negara Malaysia has a site to refer to effective lending rates (ELR) from banks which you can access it
here
. On top of that, home loans come with either fixed, floating or a mixture of both interest rate. Understand what it all means and how well it suits into our budget.

#6 – Late Payment Penalty.
  Make sure we pay all instalment payments on time. Ask about the late payments or any default payments. All these are usually stated clearly in the loan agreement. So, do double-check the loan agreement on the penalty.

#7 – Loan Duration.
The earlier we buy, the better it is because we could stretch the loan longer. The home loan period can range from anywhere up to 35 years. This depends on our age. As long as we buy a property before we are 30 years old, it’s possible to get a maximum loan repayment period of up to 35 years. The longer the repayment, the HIGHER the total interest to be paid but the LOWER the monthly repayment will be.

All the best in your loan application.

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Written by Intern Writer, Dina Batrisyia. Edited by Charles.

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7 things every homeowner must know before collecting your new house keys

Informative article from
PropertyGuru.com.my
  Enjoy learning.

— start —

7 Things Every Homeowner Must Know Before Collecting Your New House Keys

After a long wait, your new house is finally ready. This is a memorable and momentous occasion, having watched the house being built over time from scratch. The developer is set to deliver the keys to you today. But do you know what to do next?

Here is the quick guide on the process of receiving the keys to your new house from the developer.

1. Delivery of Vacant Possession

Delivery of Vacant Possession is when the property is ready to be handed to you. This will usually happen between 24 months to 36 months from when you made the initial down payment for the property, and signed the Sales and Purchase Agreement.

By this time, construction work has ended and the building is complete and ready to be lived in. The only works remaining are usually some landscaping to the rest of the estate.

When the property is about 70% completed, you will receive a letter from the developer to set a date when you can take Delivery of Vacant Possession. When the property is finally completed, you will need to turn up at their sales office to formally collect the property.

On the same day you collect the property, you will also receive a copy of the Certificate of Completion and Compliance (CCC).

2. Certificate of Completion and Compliance

Formerly known as the Certificate of Fitness (CF), the CCC is a document released by the local authority council that declares a particular property is completed and safe to be occupied. Also known as Borang F, Perakuan Siap dan Pematuhan, this document is endorsed by a Registered member of the Malaysian Board of Architects.

Legally speaking, the CCC is a requirement stated in the Sales and Purchase Agreement. So, when you take possession of the property, make sure that your house has already been granted a CCC.

3. Sign a form when you receive the key

When you meet the Developer to take delivery of vacant possession, you will need to sign several documents to mark your acceptance of keys to your new property. Once you sign the documents and write down the date, the Defect Liability Period for your property begins.

Part of this set of documents will include a simple list of the lighting fixtures, appliances, electrical sockets and other built-ins.

4. Defect Liability Period

The Defect Liability Period can also be thought of as the “warranty” period. Homeowners will be given 18 to 24 months to check and report any defects, poor workmanship or irregularities from Sales and Purchase Agreement.

However, it’s best to do a thorough check as soon as possible. The practical reason being that the house is empty and it’s easier to fix anything before you move in.

The developer will usually provide a Defect Complaint Form that lists the common areas in the house. Use it to mark out any problems you find, such as loose electrical sockets, misaligned flooring, etc. Even if you think it’s a tiny little problem, mark it out for the developer to take a look. If you ignore it, you will have to bear the cost to fix it later on.

5. Get the contact for the management office

The shared common areas and well-being of the condominium estate or gated community will be managed by a new entity commonly known as management office. Usually, the management will be selected by the developer, before the residential committee is set up. Get in touch with them for assistance on the monthly maintenance fees, sinking fund collection as well as the rules and regulation of the property.

Generally speaking, when you sign the property handover form for a condominium, it will also include an invoice for the first 3 months of property maintenance.

6. Apply for utilities

Some developers plan ahead and ask you to apply for various utilities even while the property is being built. Others may only ask you to do it after.

In any case, it’s best to get these done as soon as possible. Typical utilities applications include:

Electricity supply:
 TNB New Account Application

Water supply:
SYABAS Water Supply Application (Kuala Lumpur, Putrajaya & Selangor)

Gas supply (if piped in):
Gas Malaysia Natural Gas Supply Application

Internet:
TM UNIFI New Account Application

7. Space planning

Now that you have sorted out the major items with the Developer and the Management, it is time to get the interior sorted out.

It’s best if you can decide all the renovation or improvements that you wish to do before you move in. It’ll be much easier for the contractors and interior designers to do their work when the house is still empty.

However, you need to remember to leave a deposit cheque with the management office before you carry out any deliveries or renovation work.

Here’s the link to search for properties in
propertyguru.com.my

— end —

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7 things to do while waiting for property bubble to burst

I have quite a number of friends who laughed when told about the potential property bubble bursting. They earn their living from the real estate industry. I also have a few friends who are confidently telling me that when the property bubble bursts, they will enter the property market and buy all the properties at fire-sale prices. Whichever group we are in actually does not really matter. These are 7 things to do while waiting for the property bubble to burst.

#1 – Identify the signs and keep ourselves updated always. It’s not that wise listening to both those who said there are NO property bubble or those who predict a YES to property bubble. Here are the
few signs that should happen before a property bubble bursts.
  Remember yeah, if another world financial crisis happens, Malaysia could not escape unscathed.

#2 – Check out the prices.  There are already overpriced properties in the market today. That’s why its prices have already dropped even without a property bubble bursting. However there are also properties in a mature neighbourhood, owned by owners who bought many years back. Whether a bubble bursts or not, these owners do not usually sell at 20-30% lower unless they themselves are in financial trouble. This meant that certain choices may still NOT be available even when the property bubble bursts.

#3 – Read, Read and Read. By the way, when property bubble do burst, it’s not just property prices which will be dropping. Many other potential investments will also open up too. First up may be the stocks of developers. Usually the whole stock market will drop first before the property market crashing. It’s not so usual for property market to burst first while stock market is okay.

#4 – Have you driven around all the areas you believe is pretty attractive to buy into or for own stay? Buy nearer or buy further? Buy more facilities or buy more space? That’s usually a choice of ‘cheaper’ due to property bubble bursting or ‘much cheaper’ when it’s further away.
Some reasons here.

#5 – Identify the type of properties you like to buy. High-rise for positive rental yields. Landed homes for own stay. Both will providecapital appreciation, not just either one. There are so many choices today that we may still miss out because when property prices suddenly drop, many people will also be entering the market too.

#6 – Save as much as you can. When the property prices suddenly ‘jumped down the building,’ then cash becomes king. So, assuming a RM500,000 property becomes RM400,000 suddenly, one would need RM40,000 as downpayment…

#7 – Do pray / hope that the government is successful in ensuring the property market is orderly and we do not have any property bubble bursting scene in the near future. At the moment, both the
Bank Negara Malaysia
 and the government are doing okay with their cooling measures and
affordable homes plan respectively.

Just in case we found some undervalued property somehow in some upcoming auctions, it’s already worth some serious actions yeah. Especially when we look at the price, compare it to the median transacted prices in
brickz.my
 and realised that it’s already 30 percent below the prices of all previous transactions. Happy investing.

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written on 13 Dec 2018

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7,000 rejections @ affordable homes Johor?

Many developers shared with me about this issue before. Sometimes, those who wanted to buy affordable homes or the cheaper flats for example always fail at the last hurdle; obtaining loan approvals. The reason is not always that they
 could not afford the monthly instalments
.
 It’s also because they could not show proof of stable and continuous income to the banks. Just a few days ago, it was reported in a few medias that the government has rejected 7,000 applications for the Rumah Mampu Milik Johor (RMMJ) throughout the state.

Many reasons were stated, including inability to get loan approval as well as applicants themselves no longer having interest with their applications. Let’s talk about the reasons why they were rejecting the offer from the state. The reason was because it was not the type they wanted. An example as per State Housing and Local Government committee chairman Datuk Abdul Latiff Bandi, “Some applicants rejected it as the houses they received are strata which is
 multilevel and not a landed property
. This rejection will indirectly cause other applications including new ones to be stalled as we need to check whether existing units are still available or have been taken up.”

According to him, within 2016 there would be a total of 11,800 units of affordable homes completed while by the end of 2020 it should already hit 40,000 units. Seriously,
information should be made easily available
 so that more Johoreans can benefit from this. Besides, the applicants who wanted to apply should also get a pre-approval for the loan that they could afford. This helps tremendously in ensuring everything is more efficient. A roof over one’s head is a need and should be given the highest priority. More information here:
Johor RMMJ eHome
 Just look at how our neighbour Singapore is doing for the HDB to get a very good idea of what needs to be done. May everyone who needs a home, gets a home.

written on 20 Aug 2016

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PRESS RELEASE
:
PropertyGuru Study: 73% Malaysians Looking to Renovate, Own, or Move Homes Due to COVID-19 Impact on Living Space

Investment, low interest rates, and personal space cited as top 3 reasons to buy property
4 in 5 Malaysians intend to buy properties in Malaysia in the future, but 56% are uncertain about property prices
84% Malaysians desire more governmental efforts to make housing affordable

KUALA LUMPUR, 18 August 2021
– PropertyGuru today released its biannual
Consumer Sentiment Study for H2 2021
, which found that 73% of Malaysians are looking to change their home situation after spending more time indoors due to COVID-19. Of those surveyed, 38% want to renovate or repurpose certain areas of their home, while 35% are starting to think more about owning a home or moving out of their current location.

The pandemic has impacted Malaysians’ perception of space at home, as more than 3 in 4 people (77%) now consider it important for new properties to have an additional room at home that can be used as a home office. The increasing desire to own a home or move into a property that can meet their needs is especially high among renters (74%), individuals who live with their parents (63%), and those in the low-income group (50%).

Sheldon Fernandez, Country Manager, PropertyGuru Malaysia
said, “Malaysia has undergone various forms of lockdowns in the last 17 months, and this extended time at home has made more people realize the importance and benefits of having a space of their own, especially in the age of remote working. The pandemic’s effect on the way in which people plan their home life is more prominent among young Malaysians, low-income earners, and those currently living with their parents, who cited ‘needing more personal space’ as one of the top reasons of wanting to purchase a new home.”

Among all Malaysians surveyed, regardless of demographic and current living situation, the need for more personal space (26%) is ranked as the third reason for wanting to purchase a property, while the top two reasons are investment (43%) and to take advantage of the low interest rates available now (27%).

Property Market Presents Both Opportunities and Hardships

The favourable interest rates and price outlook, as well as the high current real estate satisfaction have increased the study’s overall Sentiment Index by 3 points from 42 in H1 2021 to 45 in H2 2021. On the other hand, Malaysians’ sentiment on the current real estate climate has declined by 3 points from 35 in H1 2021 to 32 in H2 2021.

Those who are satisfied with the current real estate climate in Malaysia mentioned that good long-term prospects for capital appreciation as the top reason for them feeling this way. Meanwhile, those who are dissatisfied cited inability to find a property within their budget as their top reason.

“From the findings of our study, it is clear that the COVID-19 pandemic has created both opportunities and hardships for many Malaysians who are looking to purchase a home. Nonetheless, the desire to own a home remains strong among Malaysians as more than 4 in 5 intend to buy a property in Malaysia in the future,” said Sheldon.

While many Malaysians would like to own a home, 67% have chosen to defer their property buying decision to 1-5 years due to COVID-19 as they continue to face challenges in their home ownership journey during this time.

The study found that compared to H1 2021, more Malaysians are now uncertain about property prices (56%; up from 52%), experiencing delays in property transactions (51%; up from 42%), and facing difficulties in securing home loans (46%; up from 43%) in H2 2021 due to the pandemic. Malaysian home seekers also cited inability to afford down payment and unstable job or salary as their top two barriers to taking a home loan in H2 2021.

Desire for More Measures from Government and Property Players

Despite the various property relief measures introduced by the government such as the extension of the Home Ownership Campaign (HOC) to end 2021, only 16% of Malaysians perceive governmental efforts to make housing affordable as sufficient. The majority believe that the government can do more to help the property sector, with the top three measures they expect from the government being further reduction of interest on home loans (70%), extension of the HOC to subsale properties (58%), and reduction of Real Property Gains Tax (55%).

Meanwhile, Malaysians also believe financial incentives from property developers such as discounts or cashback (84%), purchasing packages and schemes (66%), and vouchers or gifts (38%) can help encourage future home purchase decisions.

Sheldon shared, “While the current economy and property market is challenging, we at PropertyGuru, will remain committed to help Malaysians navigate through their home ownership journey with confidence by providing them with the right information and solutions to find the right property. We hope that the insights gathered from the study can also help property players and the government better understand the current consumer sentiment, so that informed decisions can be made to help spur the property market and address home seekers’ needs.”

— end of press release —

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770 acres township, 2,020 sq ft build up landed and guarded, starts from RM390,000

Are you currently working in Kuala Lumpur and staying somewhere within Selangor? That somewhere could be far away or that somewhere could be nearby but it may still be a jam towards your office everyday. Do you drive to work everyday? Are you thinking of upgrading to a bigger home from your current high-rise apartment? Would you want to buy a home in a guarded neighbourhood? Perhaps you may even be thinking of a new home due to pressure from your future father-in-law? Just like the time when I was ‘forced’ to buy a property before I could get married to my current wife? (Haha) Anyway, if you are taking public transport everyday and hates driving to work, you may skip this article now. It’s for a landed property, a terrace home 14km from the town of Seremban called
Iringan Bayu by OSK Property.
 From this potential new home of yours, it will take you around 16 minutes to drive to the Seremban town or slightly over an hour to arrive in KLCC Park, Jalan Ampang. If you are currently working in Seremban and would like a modern looking home with more space, lots of greenery and an affordable home you can call your home sweet home, please continue reading as I think this
may just be that home you would like to view

and decide on. It’s great to drop by and ask more questions.

The development is
Iringan Bayu by OSK Property.
 Registration for the it is now open and the launch is coming soon. It’s in Seremban and it’s the very first phase of a new freehold development within a new township of 770 acres. The total size of this first phase would be 12 acres. When it comes to new developments, especially one within a huge township, it’s extremely important to note that earlier phases are usually attractively priced. If the earlier phases do well, the later phases would see price increases. Iringan Bayu’s 1st phase names
Pastura is a 20’ x 65’ double-storey

terrace featuring a fully extended backyard providing buyers with a build up of 2,020 sq ft. Typical sizes for non-extended 20’ x 65’ homes are usually smaller due to the space at the back as well as space in the porch for parking.

Personally, I have a few good friends who drive to KL for work from Seremban. I have asked them whether it’s a fun thing to do when driving from Seremban / Seremban 2 to KL city centre on weekdays. All of them shared with me that they would prefer a home which is minutes away from the office. However, those ‘minutes-away’ properties are just too expensive (price per sq ft wise) which meant that the sizes they could afford is likely to be small. It is not a clever move for those intending to start a family or has a family currently. There are also some newer areas which they have considered but many of these newer areas do not provide gated & guarded communities which they feel is necessary for landed homes today. In terms of capital appreciation, it is also very important to buy earlier so that first-time home buyers can enjoy the potential capital appreciation after staying for a few years. The first few phases of a very successful huge new development would usually earn the highest capital appreciation. The only question is, by then, would you want to move when you love your home sweet home?

http://https://www.youtube.com/watch?v=wlJ8Ggka18g

For those with a family or just a couple who love lots of greenery, this development is accompanied by the 22-acre Verdant Central Park. This 22-acre of lush green landscaped park and lake would create a harmonious synergy between natural and modern new generation. There are lots of activities which are possible. For example, it has an entrance plaza, kids play zone, link bridge, pavilion, outdoor gym & parcourse, multi-purpose court, jogging trail, bicycle trail, chess play area, yoga & fitness park reflexology area and etc.

Within the central park there are also 3 unique bays, namely the Bay of Sight, Bay of Touch and Bay of Sound. The Bay of Sight is a platform where people can have the best view towards the lake. Usually, when it comes to buying a high-rise units, a great view usually carries a premium but in this case, the view from the bay is always a relaxing ones. We just need to drop by the park to get it.

The Bay of Touch is a platform where people can be closer to the nature. It has water elements, earth mound and etc. Residents can choose to relax on the earth mound or the platform. How relaxing.

The Bay of Sound is the place to be for people who want to enjoy the sound of nature; of wildlife and birds in this case. There are leafy trees such as the willow or the bottle brush which can attract the birds. I am no bird-watcher but I would still be very excited if I could hear and see lots of birds within a park near my home. Perhaps a binocular would help too.

We should note that the nature living concept of today and the older days are pretty different. It used to be just a few rows of landed properties, followed by a field with grasses and a kids playground and followed by a few more rows of landed properties. Basically, it’s basic. ? I love homes with these ‘green comforts’ as I was once a child running around that field in my parent’s home in Ipoh. Today however, when we view newer and more modern developments, having just a field is too basic, seriously.

Iringan Bayu envisions a green and comfortable living environment with lots of greenery. For example, it has green dual carriageway road with landscaped median. There is canopy driveway with spreading trees and layering of colorful shrubs making the drive home a unique and impressive entrance statement. Each precint would have a community green pocket park which is relaxing and could be used as a point for family gathering.

There are also a surrounding green buffer with layering of perimeter trees planting providing a serene environment and community facilities for healthy living and closer to nature. All the amenities are linked seamlessly through walkways for jogging and bicycle track links. To ensure a secure living concept environment, there are safety green buffer walkway from the roadside as well as safety and crime prevention walkway design with the green planting in between the driveway and walkway to prevent vehicle and motorist to access the walkway area. All the walkways are wide enough with a user-friendly design in consideration for even the handicap access.

Spaciousness is always a design element favoured by everyone today. Whether it’s a SOHO with a high ceiling or a micro-flat with lots of built-in elements and even landed homes, people love to have more space. This is especially more so for those buying a landed property. Iringan Bayu has a generous driveway & residential walkway to create traffic free environment. Besides these, there are also the up to 10ft walkway & 5ft bicycle track. I think space is really the key element here. The only way to have such elements however would be to build much further away, where the land price is still considered affordable to do more instead of trying to build as many units as possible within a small piece of land. For those imagining a home where there are just lots of greenery and generous amount of land reserved for the community, this is one good choice. For those needing just a small space and walking distance to KLCC, this will be a wrong choice.

There are times when you buy a landed home and there are still some space at the back that you would like to extend to so that the whole build-up is larger? Well, the developer has helped to extend the backyard fully and these extensions allow for a maximum living space. There is also a spacious guess room with attached bathroom that offer more comfort and convenience. This is suitable for elderly folks too. The price remains affordable based on the things that are usually extra.

In terms of location, Iringan Bayu is located adjacent to Bandar Sri Sendayan and Seremban 2 and it’s accessible from Jalan Seremban – Port Dickson and from Kuala Lumpur via Seremban exit 218 (Plaza toll Seremban) and exit 219 (Plaza Toll Port Dickson) of NorthSouth Highway. The High Speed Rail would have a station in Seremban which is a good addition. Please note that this would be for the future and it will not have sudden effects today. Based on the price, I have to say that it is pretty affordable for the space and design that comes with it. I think a listed developer status helps too because this is just one of their many projects and there is really no point to do badly here and thus affecting all their other developments nationwide. There are a wide range of amenities such as shopping malls, commercials, banks, recreational parks, schools and university which are easily accessible and nearby via short driving distances.

Iringan Bayu
 is NOT suitable for couples who must stay within a short drive from their office, seriously. However, it offers young couples and families a chance to get a dream home of over 2000 sq ft at a price which is less than half a million. There are not a lot of these choices even when we think of some newer areas much further away from the KL city centre today. In fact, the prices for such a large unit is usually moving towards RM1 million or higher for mature neighbourhoods. Well, if you would like to consider this as a longer term potential, do
drop by sales office for further enquiry.

Message by the developer: Potential buyers only need to pay a booking fee of RM5,000 to secure the booking of a unit. There is also currently a zero-downpayment scheme too. Prices currently start from RM390,000*. There are attractive discount for early bird buyers. In fact if you are an existing buyer and you are getting another friend to buy, the referral fee is up to RM2,000*. For repeat buyers, the rebate may be up to RM5,000*.

* Terms & Conditions Apply & After 10% Bumi Discount

Happy contacting them and understanding more.
Do ask them more questions that my review does not say yeah.  Contact details as follows:

Iringan Bayu Sales Office

Aspect Synergy Sdn Bhd (654103-U)

269, Jalan S2B12, Uptown Avenue Seremban 2,

70300 Seremban, Negeri Sembilan, Malaysia.

For Enquiries Please call 06.601 8858  / 013 2557 222

Open Daily 10am to 6pm

Waze: OSK Property @ Uptown S2

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7th Auction of Malaysian Banknotes @ 10th March, Sasana Kijang.

Message from MNP Auctioneers (Central) Sdn Bhd.

We would like to invite you to mark an important date in your smartphone now. This is for the 7th Auction of Malaysian banknotes on 10th March 2018 (Saturday) in Sasana Kijang, Bank Negara Malaysia in KL.  Yes, the most anticipated banknote auction in Malaysia is back. We hope to see you over there, whether it’s just to witness and learn from the many serious collectors or to try and bid for one and only exclusive banknotes. This is not all. There is also an Issuance of
Commemorative Banknotes in conjunction with 60th Anniversary of the Signing of the Federation of Malaya Independence Agreement. If you want to have a closer look of all the available banknotes on auction,
please download the e-Booklet here.

Notes from Bank Negara Malaysia:

Bank Negara Malaysia is issuing commemorative banknotes in conjunction with the 60th Anniversary of the Signing of the Federation of Malaya Independence Agreement. These commemorative banknotes were launched by His Majesty Seri Paduka Baginda Yang di-Pertuan Agong XV Sultan Muhammad V at the Museum and Art Gallery, Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur.

These banknotes commemorate the 60th Anniversary of the Federation of Malaya Independence Agreement signing in the year 1957. The commemorative banknotes honour the Council (later called Conference) of Rulers’ contribution towards the realisation of the Nation’s independence on 31 August 1957. The Agreement dated 5 August 1957 proclaiming the Yang di-Pertuan Agong as the Supreme Head of the Federation was signed by the Malay Council of Rulers from Johor, Kedah, Kelantan, Negeri Sembilan, Pahang, Perak, Perlis, Selangor and Terengganu with Sir Donald MacGillivray, the High Commissioner of the Federation of Malaya who represented Queen Elizabeth II. The Agreement became a historical constitutional evidence for the independence of the Federation of Malaya.

The specifications of the commemorative banknotes are as follows:

Single RM600 Banknote

This large-sized banknote has a face value of RM600 and will be sold at RM1,700 a piece.  The printed quantity is 6,000 pieces.

Uncut 3-in-1 RM60 Banknote

This uncut banknote has a face value of RM180 and will be sold at RM500 a piece. The printed quantity is 6,000 pieces.

Single RM60 Banknote

This single banknote has a face value of RM60 and will be sold at RM120 a piece. The printed quantity is 60,000 pieces.

Note: Prices stated above are inclusive of GST.

Source: Bank Negara Malaysia

Source: Bank Negara Malaysia

To have a closer look, do
download the official booklet here.

The hardcopy official one should be available before end of February 2018. To register for the Auction, this is the website to go to:
www.best2BID.com
 In the mean time, Happy Chinese New Year and Happy Holidays to everyone. 2018 will be another awesome year for all of us.

— end of message —

Next suggested article:
Banknotes as an investment is real. Get to know about it, really

A cool video of what happened during one of the auctions in Sasana Kijang, Bank Negara Malaysia:

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Press Release:
7th PropertyGuru Asia Property Awards (Malaysia) delays presentation ceremony and gala dinner

MALAYSIA’S MOST PRESTIGIOUS REAL ESTATE EVENT WILL NOW TAKE PLACE IN JULY 2020 IN LIGHT OF THE NEW CORONA VIRUS PANDEMIC

Exclusive black-tie gala dinner and awards ceremony is now set for Friday, 24 July 2020, still at the Majestic Hotel in Kuala Lumpur
Standard precautionary health measures to be followed at gala event

Kuala Lumpur, Malaysia –– 17 March 2020

In light of new developments from the ongoing global health crisis due to the spread of COVID-19, the organisers of PropertyGuru Asia Property Awards have made the responsible decision to delay the black-tie gala dinner and awards ceremony that had been scheduled for April.

The seventh annual PropertyGuru Asia Property Awards (Malaysia), presented by Kohler, will now be presented on Friday, 24 July 2020, at the Majestic Hotel Kuala Lumpur.

Existing entries will be judged as normal based on the established criteria. Entry submissions will remain open until 1 May 2020.

Key dates for the 2020 edition in Malaysia are:

1 May 2020 – Entries Close

11-22 May 2020 – Site Inspections

25 May 2020 – Final Judging

24 July 2020 – Gala Dinner and Awards Ceremony in Kuala Lumpur, Malaysia

20 November 2020 – Grand Final Gala Dinner & Ceremony in Bangkok, Thailand

Jules Kay, managing director of the PropertyGuru Asia Property Awards, said: “The safety of our guests remains a top priority, and if necessary, additional health measures may be introduced going forward.”    For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

— end of press release —

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7th PropertyGuru Asia Property Awards (Malaysia) moves gala dinner date, extended nominations period

Malaysia’s biggest real estate awards programme, now set for August, to accept nominations until June

Black-tie gala dinner and awards presentation to be held at The Majestic Hotel Kuala Lumpur on 28 August 2020
Nominations accepted until June whilst existing entries will be judged as normal; logo rights to be extended for Winners and Highly Commended awardees
Organisers to remain vigilant of situation and follow recommendations of local authorities and health experts

KUALA LUMPUR, Malaysia –– 5 May 2020

PropertyGuru Asia Property Awards, the region’s leading real estate awards programme, is moving forward this year with a new timeline for its Malaysian edition.

The organisers made the responsible decision of postponing the black-tie gala dinner of the 7th PropertyGuru Asia Property Awards (Malaysia), previously set for April, to ensure the safety and health of guests, venues, and staff members.

Malaysia’s leading annual real estate gala event will now be held on Friday, 28 August at The Majestic Hotel Kuala Lumpur. The general public are still encouraged to submit their nominations online until 12 June via
https://www.asiapropertyawards.com/nominations

The rescheduled key dates for the PropertyGuru Asia Property Awards (Malaysia) are as follows:

12 June 2020 – Nominations Close
19 June 2020 – Entries Close
1-14 July 2020 – Site Inspections
15 or 16 July 2020 – Final Judging
28 August 2020 – Gala Dinner and Awards Ceremony in Kuala Lumpur, Malaysia
4 December 2020 – Grand Final Gala Ceremony in Bangkok, Thailand

Precautionary health protocols will be followed stringently leading up to and on the day of the gala events.

Existing entries will also be judged as normal based on the established criteria whilst entry submission cut-offs will be extended as necessary for each market.

The new gala dates will then subsequently extend the logo rights of the eventual Winners and Highly Commended awardees.

Jules Kay, Managing Director of the PropertyGuru Asia Property Awards, said: “With the safety of our guests remaining a number one priority, we want to ensure that we hold our events at a time when our award nominees and other stakeholders feel comfortable and ready to fully celebrate their achievements.”

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

— end of press release —

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Press Release: Embark On A Magical Homecoming Journey With 8 Conlay

KSK Land, one of Malaysia’s leading lifestyle and design property developers, celebrates this Chinese New Year with
The Homecoming by 8 Conlay
, a virtual and physical experience inspired by the poignance and joy of returning home, especially after a long sojourn.

Running from 17 January to 15 February 2022, The Homecoming adventure begins at
cny.8conlay.com
 with an interactive journey guided by the fabled tiger guardian. In a beautifully illustrated virtual storybook, seek out auspicious and significant items to help you arrive at your destination.

The pages then come alive at the 8 Conlay Gallery where, upon completing the online experience, you can opt for an exclusive invitation to see the tiger guardian’s magic lantern with handcrafted golden peonies suspended within in a large-scale installation. Immersing one further into a surrealistic realm is a series of live performances by Shaman Tearoom – comprising multidisciplinary artists Aiwei Foo and Kent Lee – whose unique tea and music performance art takes place within the lantern.

As part of their showcase, the duo incorporates traditional chinese instruments, a synthesizer pad and a rich Chinese New Year soundscape that includes ambient sounds of firecrackers, nature, and even a Chinese dinner.
The Homecoming experience also takes one through a physical tour of the home featured in the virtual story, which is a show unit of the YOO8 Serviced By Kempinski branded residence designed by famed British designer Kelly Hoppen, all decked out for the occasion. The journey then culminates in the making of a wish on a golden bamboo, to commemorate the start of the Lunar New Year on a brilliant note.

Sharing her thoughts on the inspiration behind this campaign,
Joanne Kua, CEO of KSK Group and Managing Director of KSK Land said:
“As we gingerly find enthusiasm again, the journey home this Chinese New Year is one that is eagerly anticipated by many. We wanted to illustrate the joy of returning home for Chinese New Year through an artistic visual and sensorial experience.

“
The Homecoming by 8 Conlay or
回
家 (huí jiā)
 is a confluence of modern and traditional artistic elements, from traditional Chinese folklore to modernised sounds and physical installations. These elements evoke familiar sentiments of reunion, warmth, love and prosperity. With that in mind, on behalf of all of us at KSK, I would like to warmly welcome guests, customers and the community at large to come celebrate with us”.

During the festive campaign, there will also be auspicious lantern gift sets for lucky winners to take home a piece of the 8 Conlay homecoming magic. Follow the @8conlay and @kskland Instagram pages to find out how.

8 Conlay is an integrated mixed-use development comprising five-star Kempinski Hotel, lifestyle retail quarters and branded residences called YOO8 serviced by Kempinski and designed by Steve Leung & YOO (Tower A) and Kelly Hoppen for YOO (Tower B). The project is currently scheduled for the handover of its first tower (“Tower A”) by end-2022 and Tower B by mid-2023, followed by the completion of the lifestyle retail quarters around early-2023 and Kempinski Hotel by end-2023.

The
8 Conlay
 Gallery is open Mondays to Fridays from 10AM to 5PM, Saturdays from 10AM to 1PM. Start your journey with ‘The Homecoming by 8 Conlay’ by visiting
cny.8conlay.com
.

– END –

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8 Decades On, Optimism Fuels Continuous Aspiration – Cheng Woh, Penang.

In Penang, there are many household names. Many old shops. Many old trades trying hard to keep up with modern times. There are of course thriving ones. Cheng Woh Medical Hall is one of them. Today if you visit Cheng Woh Medical Hall, you may be greeted by a good-looking young man. I say young man because this man is younger than me and I still consider myself young. This is Cheng Woh Medical Hall’s story as told by the current and 4th generation holding the fort, Xi Wen.

We, Cheng Woh Medical Hall have been here for
81
 years, since
1933
. We have witnessed 8 decades of property changes in Campbell Street a bustling street full of commercial activities here within Georgetown. These shop houses are called “shop house” because then, people carry out their businesses on the ground floor and the whole family would then stay on the 2
nd
/3
rd
 floor. ‘Shop House’ is thus both commercial and residential. For over 100 years this is where the action is, a street filled with shopping and food and many other retail businesses.

There were no Gurney Plaza or Queensbay Mall then and Campbell Street was the “shopping street” of Penang. This continued up till the 1990s, right before the era of shopping complexes. Then the new millennium came and with the repeal of the Rent Control Act, people started moving away. People felt that shopping in huge air-conditioned departmental stores were much more comfortable and convenient. This brought a massive drop in traffic in Georgetown and the property prices stagnated.

From 2000 to 2007, prices of properties here were around RM400 per square feet. Rentals were priced around RM1000 for a 1200 sq feet shop lot. Yes, so cheap and yet plenty of empty lots. There were very little demand and plenty of supply. With this, the buildings started to deteriorate as white ants build their colonies and literally eating up the city bit by bit.

Two significant changes came in 2008 which transformed the city. Number 1, Georgetown became a UNESCO Heritage Site and number 2, there was a change in the state government. Tourism began pouring in, the city becomes cleaner and foreign investors came well versed with commercial investment saw the opportunity and came in a big way. Naturally, the locals did not know what happened until after the prices jolted them awake.

Today, in 2014, property prices are now hovering at around RM1600 per square feet, 400% higher than 2007. Rental rose to RM4000 for a 1200 sq feet shop lot. Luckily for us, we bought one side of the shop back in the 1940s and the 2
nd
 unit adjacent to our shop in the 1980s. If there were no foresight then, we would be paying least RM8000 per month just for rental and 5 years from now, it will definitely continue to go up. The massive change in the property prices and overall business of the city truly amazed us. Back in 2008, we predicted tourism will improve and property prices will increase but not at this rate, surely not at this scale.

Few things continue to be work in progress around areas of Campbell Street and Penang Road. By mid-2015 we will see the completion of Chowrasta market plus some modifications to Campbell Street pedestrian walkways and parking lots. Boutique hotels, cafés, restaurants and even museums will continue popping up making the city more and more a truly must-visit world destination. Even Cheng Woh is playing our small part. We are renovating our shop (last major renovation was back in 1988), riding on the wave of tourism and continuous improvement.

We will probably mark our 100 years anniversary in Campbell Street, in the year 2033. We are very optimistic Georgetown will continue to improve, to be cleaner and greener making the city the number 1 destination of the world.

Written by Lee Xi Wen on 3 May 2014, edited by charles.

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Penang Boutique Hotels, must they be so expensive?

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80% of developers for Greater KL, Water Shortage, Project Approvals

80% of developers for Greater KL are not able to get approvals for their projects. Main reason? Water. According to REHDA president, Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) is not approving projects because there is not enough water. Affected projects are up to 800 in total when both the projects in Kuala Lumpur and Selangor are added up together. According to a survey amongst Rehda members, 57% said they have approval issues of which 45% are related to water, 35% by TNB and sewerage at 27%. The developers also face higher cost of business due to scarcity of land, higher conversion premium, higher compliance cost and higher infrastructure contribution funds.

In many predictions, the population of Greater KL is expected to hit 10 million within 6 years. REHDA said 166,000 new homes are needed per annum to cater to this demand. Thus far, around 100,000 are built every year and as many developers started to pull back, the expectations are that it should be lesser than 100,000 units. Then, Fateh said something which is very important for any development to continue. The public transportation part. Even with MRT or LRT, a good public transportation system must include feeder services, buses and taxis. In other words, a holistic approach. MRT is proceeding fine, just that I have not yet see a plan for these feeder services.

Over 3 years ago, a few developers in Sungai Petani told me that their developments plans were not approved due to water shortage. At that time, I thought this must only happen in smaller or secondary towns. Today, it is happening in Selangor. Frankly, this has better be solved immediately because if these developments do not happen and everything is pushed back for one year, it also meant that the new supply into the market would be cut. I searched, so far there has been no response from Syabas even after the report appeared in mainstream media. Oh  yeah, in terms of scarcity of land, I think this reason is also because buyers simply would not consider unpopular areas. There’s no need to believe me, just go online, search for prices in popular areas and then compare the price per sf versus the not popular ones. There should be a premium which I agree but areas which are less than 15 minutes away are priced 3 times higher? Properties cannot run away from demand and supply. Supply is by developers and secondary ones. Demand is just YOU.

written on 14 Sept 2014

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Kuala Lumpur new condos are now RM700k instead of RM600k last year

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80% of housing loans were rejected as of June 2019. These are the reasons.

Press Release:
Lack of Awareness Among Many Reasons That Leads To Home Loan Rejection

KUALA LUMPUR, 6
th
December 2019
– 80% of housing loan rejection as of June 2019 was because houses were priced more than three times of the applicant’s annual income ratio according to an official of Bank Negara Malaysia. This was due to the lack of awareness for home loan application process prevalent among prospective Malaysian home buyers, especially those who are buying for the first time. Among other reasons for housing loan rejections commonly include lack of repayment capabilities, unfavourable credit score, bank’s diverse risk appetite and other financial commitments that may affect the success rate of the loan application.

David Mawer, General Manager of iProperty.com Malaysia Sdn Bhd, said “The big issue faced by many Malaysians is understanding fully how to successfully secure a home loan. We have a lot of young people who are just starting out their careers and even for those aged 30 and above, there seems to be little awareness and education on the home loan application process, which ultimately means that it’s a challenge for a lot of Malaysians to get a home. Based on our findings, only 43% of iProperty.com.my users are familiar with Debt Servicing Ratio (DSR) and how it affects their home loan.”

Earlier this year, iProperty.com.my conducted a survey concerning the subject of home loan. The two biggest consumer demographics in Malaysia, the B40 and M40 groups, revealed that their biggest home purchasing challenge is to successfully secure a home loan. The B40 group finds the loan application process most important and difficult whereas the M40 group indicated that it is the most difficult task.

“The concept of DSR is new to many people. Often, they don’t understand that each bank has their own DSR benchmarks. The DSR shows how much of a person’s income is used to service debt instalments and is represented as a percentage. The downside of not understanding it is when people enter the market without the education, they can get their home loan application rejected by banks. This might delay or discourage them from purchasing a house.”

LoanCare, Point of Interest (POI) and Transaction History feature on iProperty.com.my to help Malaysians in their property seeking journey
LoanCare, launched in early 2019, is a home loan eligibility indicator feature on iProperty.com.my to help Malaysian homebuyers determine their DSR score with an eligibility report from up to 17 banks. Homebuyers will have a better idea of which bank to approach when applying for a home loan thus increasing the chances of getting approved at the first attempt. Now, all buyers can access this information for free on iProperty.com.my at their fingertips.

In addition to LoanCare, iProperty.com.my provides homebuyers the opportunity to explore your desired neighbourhood with the customised Point-of-Interest feature. Besides location, property type and price, liveability is another important factor for most property seekers. The customised Point-of-Interest is integrated into the maps of the searched property and helps homebuyers make better decisions in terms of how convenient it is for them to access the amenities surrounding the searched property including the distance, all in one view.

Homebuyers are also able to see the transaction history of each property on the website. Powered by
brickz.my
, home seekers can instantly see up to 10 recent property transaction history, its sale value, per sq ft price as well as median prices of properties in the area. Meanwhile, homeowners can stay informed about their property by keeping track of the volume and value of similar homes being sold recently, thus getting a clear idea of the real estate value in their area.

Commenting on these features, David Mawer said, “These features on iProperty.com.my aim to help Malaysian homebuyers in their property journey. These data points will help you determine the value or at least have a gauge of a reasonable price of that property you have your eye on. On top of that, you can easily streamline the kind of property you would want to live in, be it condominium or terrace home as well as your preferred residential neighbourhoods to check whether your target property falls within your budget or not; allowing you to conduct your property search much more quickly and effectively.

“As the number 1 place for Malaysians to search for property, we aim to provide a convenient place to find value with transaction data and points of interest, personalised searches and home loan eligibility reports, all in one platform. We’ve identified the pain points in their property search journey and we’ve matching the tech and data solutions to help Malaysians find their dream home.” added David Mawer.

— end of press release —

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80 people losing RM400 million in gold ‘investment’

I think more people should be aware that there’s no free lunch or the best investment where money seems to fall down from the sky. If there are, no one would give you the opportunity to invest. They will telltheir brother, sister, father and mother and they would be rich, rich and rich. Reason? They invest, get huge returns, invest more and get bigger returns and with bigger returns they invest and get crazy returns and so on. True… right? Why do they need you…….? Well, another case of ‘investment’ gone wrong. Reported in
thesundaily
 was a gold ‘investment’ scheme, complete with brochures and crazily attractive returns. Returns were said to be 15 percent per month. 80 people lodged a police report and said they lost RM400 million. They alleged that the promise of lucrative returns were not fulfilled.

The entity which the investors invested into was confirmed by the Urban Wellbeing, Housing and Local Government to be not registered. One investor said that he ‘invested’RM340k while another said RM200k. Generally, if the returns are real (15 percent per month), then RM200k would become over RM1 million at the end of 12 months. I shared about this earlier:
Why do some people still get cheated? Sigh.

Annual increments are only single digits every year. If there are investments which gives even 5 percent return every month, why should we work….? Why should anyone work in this case. Perhaps working for fun then, since returns are so high that money is no longer a concern. By the way, I think even Ah Long charges less than 5% per month which is 60% per annum…. Yet, the returns promised by the gold ‘investment’ was 15 percent per month….

Work harder for real money. Investment is not about crazy returns and crazy returns are definitely not a form of investment. Perhaps this may be of interest if we are looking at MINIMAL investment and continuous returns…
Beggars save too, else ‘earnings’ are useless
 Cheers.

written on 11 June 2017

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AirBnB will be legalised in Singapore soon? Malaysia’s progress?

AirBnB is not really regulated even if most governments are not actually banning it except perhaps Singapore? The reason I say so? Just 2 weeks ago (April 3), two Singaporean Airbnb hosts who pleaded guilty in court to unauthorised short-term letting were fined a total of S$60,000. This is the first of such cases under the country’s rules on short-term property letting introduced last year.
Here’s that full article in channelnewsasia.com

Actually, AirBnB is a good service provider. We need a place to stay, owners need extra income. This connection enables both parties to benefit and all of us pay AirBnB a service fee for helping to ensure the connection remains robust and good. However, this service would also affect some other fully regulated accommodation providers like hotels.

Singapore is again ahead of the curve and their Urban Redevelopment Authority (URA) have proposed that perhaps if 80 percent of the owners (by value) agree to AirBnB, then it’s okay to proceed.
Here’s that news.
Within URA’s proposed consultation documents would be how short-term stays can be applied to developments with common property, such as condominiums, as well as other aspects including  fire safety requirements, the role of management committees and how to regulate the platform operators.  (YES, definitely will include all the other aspects which is usually applicable to hotels etc)   This endorsement will be valid for 2 years and every renewal will have an updated vote count. If it falls below 80 percent, then the earlier endorsement will not be renewed. Many other rules would apply such as 90 days maximum rental cap and a maximum occupancy of six people per unit and the URA is also saying that it wants to REGULATE the commercial platform operators such as AirBnB and Homeaway by requiring them to only list residential premises that have been registered for short-term use. URA will also require these platform operators to KEEP TRACK of the number of nights and reject the rental bookings if the annual 90-day quota is exceeded. URA will also require these operators to collect taxes from the hosts too.
A lot more details in the article here. Do read yeah.

For all the home owners currently listed in AirBnB here in Malaysia, I think some forms of regulations are already coming. One latest article about AirBnB here in Malaysia says this. “Airbnb Inc has agreed to work with Malaysia on tax collection, with initial efforts to focus on a tourism levy as the government prepares to cast a wider net on the digital economy. Mich Goh, Airbnb’s head of public policy for Southeast Asia, told Bloomberg Tax, “We have been engaging the Malaysian authorities in meaningful and productive conversations. We want to help our hosts follow the rules, and we are actively keeping them informed of all regulatory updates.”
Here’s that full article.
 I am all for AirBnB or even Malaysia’s very own
Sweethut.holiday
. Happy taking that holiday and saving more.

written on 16 April 2018

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800sf CONDOMINIUM for just RM299,000 – Better be quick

Sorry KL folks. Such deal are available only in Penang. This was announced as Penang state’s
first privately-initiated affordable housing project. Not
much details were available except that the project is in Mount Erskine in Tanjung Tokong. However, with a price of just RM299,000, I can safely say that the number of registrants would far outnumber the total units available. Per sf basis, it is at RM373. For a condo, within Penang island and in Tanjung Tokong, I seriously think there is no such deals available even today. Oh yeah, I believe these condos should be under the moratorium whereby buyers cannot sell their unit for 10 years. This was announced by the state exco for housing, Jagdeep Singh Deo a few months ago.
Read here.

Not to be forgotten, there’s also another 390 units of low-medium cost apartments of 650sf priced at just RM72,500 each. Actually if you are family members and you happen to be able to get a unit side by side, thats just RM145,000 for a total of 1,300 sf! The GDV for this whole project is estimated at RM400 million and is expected to comment in the third quarter of this year. I have never heard of this developer, Aspen Group but MBSB is giving them a financial facility of RM95.5 million. Thus I think it should be pretty stable and safe.

Project name is called Tri-Pinnacle. Since Pinnacle is used to describe this project, you can be sure it is somewhere near highest point of an area where it is built. Tri may simply means there are three towers or blocks. I have never been to the site but normally names may give away their position. These houses are only opened to registered approved buyers by the State’s Affordable Housing Department. If you are interested, you may visit Aspen Group’s website here:
http://www.aspen.com.my

written on 28 May 2014

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84% of homebuyers have only ONE (1) outstanding home loan. :)

To be honest, this is the first time I have heard of an index called the The Malaysian House Price Index (MHPI). Since this is by Bank Negara, I am quite sure it is published periodically. The latest showed that residential prices across the country are stabilising. Last year, in Q4, MHPI rose only 9.6% and this is lower than one year ago, at 12.2%. This is also the first time that the index fell below 10% since Q3 2011. This is also complemented by the decline in new residential launches.

If you remembered one of my articles, I spoke about the cases where stronger developers which can delay their project would definitely choose to delay. No point in launching at a price which is too low margin and still risk not selling simply because of the ‘wait and see’ attitude of buyers. With the delay of new launches, Bank Negara has also increased the
RPGT as well as higher minimum purchase

price for houses by foreigners and the uncertainty surrounding the GST implementation. Do note that GST will at best maintain the property price but based on studies thus far, it is likely to add to the house prices albeit a low single digit percentage.

More importantly, it was also shown that MAJORITY of mortgage buyers, up to 84% borrowers has only ONE
outstanding housing loan
. This meant that the majority of them are buying for their own occupation or even medium to long term investment. This is considered a good thing because imagine if majority of buyers have two instead of one property? Personally, with this backdrop, it will be tough for certain properties to drop in price. In a test of default of up to 10% of all home owners and a price correction of up to 40 percent, Malaysian banks capital buffer is still sufficient to cover it by over five times.

I think the above is indeed a good news for the property market as a whole. Especially when the
secondary market prices
 continue to lag behind that of primary or new launches meant that there is still a good buffer because not everyone need to buy new properties. They can always take a look at the secondary market and if prices are still considered high, after a while, they will lower their expectations and buy one which after a while would seem okay because imagine even if it is a low medium apartment but everyone who stays there are junior executives? After a while, the prices would definitely go up.

written on 23 June 2014

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85% faced dropping sales in H1 2014, pessimism to persist till Q1 2015

85% of developers face dropping sales in H1 2014. This was revealed by Real Estate and Housing Developers’ Association (REHDA) Institute after their Property Industry Survey for H1 of 2014. As for H2 2014, 20% felt optimistic with the property market outlook. This dropped further to 13% for the first half of 2015, when goods and services tax (GST) is implemented. According to Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor, main issue for buyers was getting their loans approved. Rejection rate is very high. In fact their survey showed that rejected loan applications was 30% and this is for buyers of homes priced between RM250,000 and RM500,000.

Some of the cooling measures which impacted the housing market include the doubling of real properties gains tax (RPGT) to 30% as well as the cancellation of DIBS where developers pay the interest for buyers during construction period which is said to be the main cause for property speculation. The soon to be implemented GST at 6% is also another main issue too. ‘Realistically, prices of property prices cannot go down’ said Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor.

Personally, I do believe post-GST, there would be uncertainty in the market and many may choose to wait till the dust settles. Fundamentally, nothing has changed though and if prices no longer rise like previously, I think sooner or later, genuine buyers would come back. While I agree that prices could not come down but I think this is over a longer term. In the medium term, the developers better be prepared to launch projects which are more affordable. Comfortable may be a better word than luxury. For high rise developments, needed facilities like a playground for kids and swimming pool may be more important than ‘wanted’ facilities such as sauna which costs a lot to maintain. For landed ones, perhaps smaller and higher, thus ensuring overall price can be as low as possible.

One more important real fact, perhaps ONLINE should be preferred over the usual traditional media which costs huge money and truth is, not even trackable in terms of effectiveness. Tell me frankly, how many of you remember the name and the price of the properties shown on billboards along the roads that you pass everyday. Truth is, you would remember ONLY if you have interest. In brief, buyers market will continue for a while more for new properties while for secondary ones, if it’s currently really undervalued, I think buyers should buy soon. Prices of properties may not go down is not entirely correct but prices per sf definitely cannot go down too much, or else no developers would build.

written on 11th Sept 2014

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850 sq ft apartments for BELOW RM230,000

Do you prefer to get a new home? I think for those who are looking for affordable ones, it may be advisable to also look at some government schemes. How about one at a pretty good location for just RM230,000? It’s not just the property price. Location is not one of those far away places. It’s under Rumawip (Yes, within KL itself!!)  I brought my family and in-laws to the Desa Water park only last year, just before it was closed for ‘renovation.’ I think this is a ‘renovation’ it will never come back from. Reported in
TheStar
, the former Desa Water Park in Taman Danau Desa would be the site for a total of 3,000 Federal Territories Affordable Housing Scheme (Rumawip). The developer is Aset Kayamas who bought the land for RM500 million. Land size is 16.99 ha (around 42 acres).

 Within this piece of land would be a mixed development project comprising the affordable units as well as other commercial and residential projects. While the current number of units to be built is 3,000 there may be an additional 2,000 units too. This is pending negotiation between the Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor. The units are 850 sq ft and will cost not more than RM230,000. Three other projects were also launched at the same time too.They are Residensi Desamas in Taman Desa, , Residensi Wangsamas in Wangsa Maju and Residensi Jalilmas in Bukit Jalil. The Desamas units (900 sq ft) will cost RM300,000 while units at the other two locations will cost RM198,000 for an 800sq ft unit. He also shared that, “Since 2013 until November this year, we have achieved a total of 50,455 Rumawip units or 63% of our overall target of 80,000 units by 2020.” This is the website for
rumawip.

If you were to ask me how would these new units compare to the secondary ones, my advice would be to compare the size, price and location. Yes, I prefer a larger-sized ones for a lower price. In terms of location, even if it’s not as nearby to the KL city centre in distance, along as there’s a LRT or MRT station nearby, I think it is okay. Choices are not straight-forward though because some secondary ones may be a bit rundown for similar price versus the new affordable ones. The plus point would be that you can already start staying almost immediately versus waiting for a few years for a new one. No harm in both, just aim at owning one. Happy choosing.

written on 28 Nov 2016

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8,700,000 sf of land for PR1MA in Penang

A piece of land with a size of 80.94ha in Teluk Bahang has been bought for the 1Malaysia People’s Housing Scheme (PR1MA).
This is indeed a positive news for Penangites who really wants an affordable roof over their head. Then again maybe some wants to wait for the affordable ones to be built in Baru Kawan as announced by the state government some time back. Actually, I don’t really care whether the federal government builds or the state government builds. If you have announced that you are building and you have shouted for some time, just start building it. Action speaks louder than words and if after another one year nothing happens at all, Penangites please show your displeasure. Else I think talk is cheap, for all sides.

As for those who wants wait for three more years or more, I suggest that you look at secondary market. Yes maybe the wall paints outside the secondary apartment needs some repainting. However look beyond that who knows inside it’s still ok and you needed to just do minor renovation inside. There are many projects which are ok. Just do not keep complaining about how expensive condos are because there are plenty of choices in Penang today when compared to even another island, Singapore. There, even if you don’t care about the peeling external paint, you have no choices of Rm 250,000 for an apartment with some facilities and a covered car park. For this one aspect Penang is better today.

One more thing, if everyone who stays in these apartments take care of it, sooner or later the prices will increase and out will benefit you anyway. Complain all you want but everything begins with you. My colleague stays in an apartment in greenlane, without any facilities. It is even facing a market. Yet everything’s I go I always tell my wife how clean it’s interior is. No rubbish strewn around, nice pots of plants even if majority are cement always. The lifts are not those huge ones or those with tall ceilings but it had always been working everyone I go there. The guards are not that young but I could see two everytime.

Personally I think Penangite are lucky. So enjoy this and you either buy one stay now or register and wait for three new affordable homes. The one by the state is in Batu Kawan and the one under PR1MA is in Teluk Bahang. Your choice.

written on 24 May 2014

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Potentially over 700 stores closure and 30,000 employees losing jobs

Toys R Us will potentially be closing over 700 stores and 33,000 employees are at risk of losing their jobs.
Full report in WSJ.com here.
Please do read for some of the reasons for its closure, including the most important one, stronger competition. Whenever people lose jobs, naturally the property market shakes because some of these workers may not be able to keep up with their mortgages. It may not be just the Toys R Us workers. What about their vendors and their vendors’ workers? Hopefully, something positive soon because there are some plans that is now being discussed that may save a lot of these stores and the jobs that come with it even if not all. For this part of the world, Asia, maybe a white knight to take over the brand? Who knows?

When some company or brand is closing down, do we see it as an issue of competitiveness or just the bad economy? In Malaysia, just weeks ago, someone pointed out that her favourite brand, GAP will be closing down their stores in Malaysia. One of her friend remarked that the economy is getting worse especially for the retail. There are too many malls. Well, for everyone’s information, GAP is ALSO closing down their stores in Singapore. (Oh no…) and they have also closed all their stores in Australia. (Oh dear…) By the way, GAP is closing 200 stores worldwide but it intends to open 270 new stores of which many would be Old Navy. (Yes… it has opened one in 1Utama)

Everyone wants to look good but no one wants to pay high prices anymore. That’s the reason why many new, bright and great looking apparel stores have nice designs and good materials but at prices which are easily 30-40 percent lower than many of these ‘branded’ brands. Their service is still very good. Many brands start to realise that they should be selling more to earn more instead of selling with a high margin like yesterday. If we are to generalise a bit, it meant that even if I were buying the same number of shirts and pants as last year, I am actually spending lesser! Frankly, I remember I used to pay RM189.90 or more for the usual jeans brands in the mall. (not Levis lah…) Today, I can get a pair of new jeans from Old Navy for 30 percent lesser. If we look at Brands Outlet, then it’s even lower.

Everyone kept harping on the depreciation of ringgit in 2016 (yes, it recovered in 2017), well, if the ringgit was getting smaller by double digits but the retail is still up by a single digit, do you get the meaning? As for too many malls, let’s get this straight, one more time. Too many malls meant the ‘not-so-competitive’ ones will suffer. It is not likely to affect the big five: Suria KLCC, Pavilion, Mid Valley, Sunway Pyramid and 1 Utama or cause them to start lowering their rental
for example. Here’s an earlier view.

Getting a car park is still going to be tough every weekend. My kids love Toys R Us even if I have bought very few items from them. Buying toys online is cheaper too. Just this month alone, I have purchased 6 items from shopee. I think the trend is really changing. There’s no ‘safe’ brands, only continuously evolving brands. Perhaps a white knight would save Toys R Us soon. Happy following.

written on 15 March 2018

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888 Kopi and Starbucks…. mug

No, no, this is not a comparison. How to compare Malaysian’s favourite cup of Kopi O with Starbucks’ coffee? Today, the article is about 888 Kopi O. Do you know that 888 has been around since 1942? Yes, in fact I remember seeing them in those old kopi tiam when I was still very young. I chanced upon this Kopi O 2 in 1 in Giant. It was on offer and after you do the calculation, it comes to slightly less than 50 cents per cup. Hey, hot water is free in my office.

The packing is really, nothing. It’s just silver in colour with black wordings. How much more simpler can you get? Then again, I am buying it for what’s inside. You tear off the silver packaging and drop it into your STARBUCKS mug. Pour hot water onto it, close the STARBUCKS mug cover and wait for 10 minutes. After 10 minutes, open the cover, take our your bag, make sure you dip it at least 10 times more so that whatever remaining flavour flows into your mug.

The Kopi-O is not as thick as I would want. The aroma is there but perhaps they did not blend in some Arabica beans. The sugar is just right. So, verdict is, if you want a thicker cup of coffee, you can either try another brand or use a smaller cup. Would I buy it again? Well, I would prefer to try others too but if it happens to be on offer again, why not. We must manage our costs within our budgets.

Oh yeah, why use Starbucks mug? Aiya, pretend that I am drinking their Americano lar. Shh…….

written on 26 Dec 2013

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Majority of 8KiaPeng@KLCC will be foreign buyers

Many of us like to stay in places where there are lots of expats. While I do not really think so myself but many friends equate this with status, an elite one no less. Look at the premium priced areas or places within KL and the signs are pretty obvious. It is true that due to their earning powers, these expats is able to afford to pay higher. Okay, perhaps it has slowed down slightly where rental market is concerned due to some headwinds but as long as Malaysia stays the course, I think good times should come back in the near future. Yea, some said, it’s the best time today. Read here:
Flat 2016? Good 2018,2019 and great 2020?

One more development being launched targeting foreign buyers is 8KiaPeng@KLCC. The developer is I-Bhd and its director, Monica Ong said this during the laucnch, reported in thestar.com.my, “From the feedback we’ve been getting, we are confident that the take-up rate will be very good” and “Also, the forex will be to their advantage.” She also shared that majority of the buyers would most probably be foreigners.from China, Hong Kong and Singapore. I once met a Hong Kong couple in Penang. They asked me a few questions about the condos with seaviews in Penang. Their comment? It’s really affordable. I think the sentiment remains the same. 8Kia Peng@KLCC is made up of a single 50-storey tower on a freehold land with a gross development of RM1bil, with a total of 442 units mostly overlooking the Petronas Twin Towers.

I do know that many of the condos in KLCC are owned by foreigners. Malaysia property market is quite friendly because these foreign owners would have the same rights to the property as any other Malaysian property buyer. Of course, the property prices would have ‘alienated’ many local buyers who are earning in RM and buying in RM. Looking deeper, the prices are in RM and the foreign buyers are buying with their stronger currencies, many times the prices that they are paying is indeed extremely attractive. This is one reason it’s value for money for them.

Furthermore, some are within walking distance to most of the stuffs they need be they shopping, transport or just food haven. Yes, with regards to great food, an old friend flew back from UAE to KL for a short break said that she thinks its value for money to fly back for food because the flight ticket price is still just equivalent to the amount she would spend for good food over there in the UAE. Good reasoning, I guess. I was seriously looking for Malaysian food within days of fish and chips in some countries in the world. I do hope we continue to attract good people from all over the world who buys in Malaysia because they would also like to live, work and contribute. Selling to just buyers who buy and uses it as a vacation home is not really something which I would personally like. It would also be a little creepy too if the whole project looks deserted even if well maintained. Happy investing.

written on 15 Mar 2016

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