BAD property market Malaysia, a summary

Articles with negative titles these days are becoming ever more popular. This is despite the fact that the content does not correspond fully to the title. One such article caught my attention and if we read just the title, it’s best we sell properties we have now and wait for opportunities down the road. As the article was quite a long one, based on the findings and analysis from UOBKayHian Research, I will summarise them as below.

– H1 2016 will be bleak due to the focus on affordability and strict bank lending.

– property prices remained stable in key areas including Penang, Johor and the Klang Valley

– many developers have downsized their launches and focusing on affordable homes instead.

– Selected hotspots in Klang Valley offering affordable and landed developments would be well sought after.

– It likes Sunway and SP Setia, as both are expected to give 4-6% dividends while Sunsuria offers upside where earnings may spike but ONLY for those with a stronger risk appetite.

– Johor has the highest positive quarter-on-quarter growth after three quarters of decline from all the cooling measures

– Malaysia’s key economic growth areas remained stable and still growing even if at a slower pace.

– Prices in Johor City Centre would face downward pressure, particularly within the Danga Bay area. Huge quantities of new units from the Chinese developers would flood the market in 2018.

– Newly completed units in Penang are increasing, especially for those launched in 2012 – 2013 previously. New launches have slowed considerably as developers were not able to obtain their advertising and developers licences.

I think the summary would tell us that it’s time to hold, if we own properties and can hold and it’s time to ‘negotiate harder’ if we are the buyers. For those of us who needs a more affordable home, there are lots of choices. For those who bought Johor properties with delivery dates in 2018, it will be a tough time. Of course, it boils down to the price paid, the developer’s brand name and concept and the location too. Be real, for a great location, prices are very sticky. Any sudden fall of 10 percent and many buyers would already offer to buy. If you must read the full article, it’s here:
Bleak Property Outlook in H1 2016
  Happy investing.

written on 17 Feb 2016

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Luxury condominiums oversupply in Kuala Lumpur

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Too many bad news. Stop buying property.

What we read is not necessarily reflective of the market

The issue with social media these days is that we are tricked into believing what we read is the truth and that’s far from the truth. Engagement is key. Thus, social media platforms will do their very best to show you things you lik to read. What you like to read would then be the majority of things shown to you. As for property investment, it’s another thing which will have both sides of the story ALL THE TIME.

Today (6th Nov 2022), I google for “Property Price’ and these news popped up. If we like to We have many bad news, really. Here are three of them for everyone to take a look. If you like to read the full article, the link is inserted too.

Source:
https://www.smh.com.au/property/news/sydney-s-plunging-property-prices-leave-potential-sellers-spooked-20221101-p5buqo.html

Source:
https://www.bloomberg.com/news/articles/2022-11-03/nationwide-cfo-says-uk-house-prices-could-fall-30-in-worst-case

https://www.bloomberg.com/news/articles/2022-11-04/us-commercial-property-prices-slide-13-from-peak-as-rates-jump

Just bad news??

When we look at the above, it does seem that it’s bad news everywhere. Well, it’s really up to our interpretation yeah. Always remember that property prices cannot keep growing without any breather. Else, it would soon become a bubble and bubble is not something anyone likes. This is why it’s important to note that just after Covid-19 lockdowns were lifted, property prices have been moving up in many of these advanced property markets. The reason? Pent-up demand versus the small number of newly built homes during the lockdown days.

What about positive news then?

Here are three of them. All are talking about the same property markets which were all doom and bloom just within the articles above.

Source:
https://www.standard.co.uk/homesandproperty/property-news/house-price-london-homes-value-fall-b1036504.html

Source:
https://www.smh.com.au/property/news/nsw-regional-property-prices-fall-for-first-time-since-early-2020-20221027-p5btc8.html

Source:
https://www.reuters.com/markets/europe/uk-house-price-growth-slows-weakest-since-july-2020-rics-2022-10-12/

Property price is always dependent on the economy (and affected by the interest rates too)

If the economy does not show positive signs, then many may choose to delay their investment. When demand slows down, sellers would have to manage their expectations and sell at a lower price in order to sell. Some sellers may choose not to sell and prefer to hold instead. Meanwhile buyers could either see this as an opportunity to buy at a lower price or some may hold back and hope for a lower price instead.

Meanwhile interest rates have been raised and this is impacting the monthly repayments which would be higher now. Just remember yeah, higher rates are not the main reason whether to buy or not to buy. It’s the economy and it’s the salary of the people who will determine whether or not they will buy. Whether you are a seller or a buyer, I wish you all the best. There are always positive news for both sides. Cheers.

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Small but sure steps for ASEAN closer integration

I do not think anyone would be able to read this news in any property portal. It’s okay, you can read it here. Haha. Central banks of Thailand and Malaysia has taken the first step in making the trade relationships between both countries to a new level. In the future, instead of relying on the usual foreign settlement currencies such as US$, the currencies of both the countries would be used to settle trades instead. In brief, if you are buying Thai goods, the quotation should now be in Thai Baht and if Thai companies are buying Malaysian goods, the quotation should now be in Ringgit. The exchange rate would be quite fixed and would no longer suddenly go up or down on a daily basis. As everyone would note, orders are not paid on the same day that it was ordered. Thus any fluctuations may cause potential losses to the unlucky party.

Both central banks have signed a memorandum of understanding to promote and encourage the private sector to settle cross-brier trades and direct investment. If this step can be used for majority of all trade settlements, there is NO NEED to worry about the volatility in the currency market of today. This may be the start of many more of such arrangements between other ASEAN countries. If this could be done successfully between all ASEAN nations, there is no need for one common currency like the Euro. The benefit is that member countries may not be tied to follow what the majority do. The disadvantage is of course, the integration is likely to be much slower and depends on the onus of the central banks and leadership of member countries in pushing for it. Some countries which are more reliant on US$ may not be as willing to strike an agreement too.

BNM governor, Zeti Akthar Aziz said, “This bilateral arrangement would further strengthen trade and investments flows between Malaysia and Thailand as well as in fostering closer economic linkages for the advancement of the region.”

Bank of Thailand Governor Prasarn Trairatvorakul said, “I believe this would further strengthen cooperation as well as boost economic and investment development in the region.”

I personally think this is a great first step for two countries and a potential giant leap for all other ASEAN nations. Assuming this integration is successful, it will encourage more of such MOUs. Truth is, why should trades between two different countries be settled using another currency other than their own? One major reason why US$ value remaining very strong is due to it being used as a world currency. Even if the US economy seems to be doing better, not many economist would tell you that it deserves to be so ‘expensive’ versus all the other ASEAN currencies. Nothing happens overnight but let’s wait for more good news to come.

written on 28 Aug 2015

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Baked coffee cheesecake, anybody?

A close friend asked for the recipe for a baked cheesecake recently. She wanted to bake one for her husband to be. I ‘small small sound’ tell her, buy onelar, easier. She laughed it off and said, no, I want to make one for him. Here’s the response to her request. Actually, baking a cheesecake is pretty easy and straightforward and it tastes exceptionally great too. Here’s the simple recipe and simplified steps to make it. Try it and share your results please.

Ingredients:

Cream Cheese 500gm. (Philadelphia is expensive, Tatura is cheaper, I have no preferences and used any brand available at the time I need to buy)

Castor Sugar (just right is 200gm, standard sweetness is 240gm); Corn Flour 2.5 table spoon (any brand); Vanilla Essence (2 teaspoon); Whipping Cream – 4 table spoons (any brand, prefer unsweetened); Lemon juice x 3 teaspoon; Lemon Zest (for more aroma); Instant coffee 2 teaspoon (nescafe gold gives more aroma or use Indocafe); Eggs x 4 (Size A); Butter – 100-120gm; Tiger Biscuits x 250gm.

Do the base first, just crush all the tiger biscuits into ‘sand’. Then add in the butter and mix. Next press the mixture into the base of the cheesecake pan. Grease the inside of the pan with butter / margarine. Leave in fridge while you do the below.

Blend cream cheese, followed by castor sugar. Once it looks fully blended, add in one after the other, corn flour, vanilla essence, whipping cream, lemon juice, lemon zest.

Mix the instant coffee with 4 tablespoons of hot boiling water and pour it into the mixture. DONT ADD EGGS YET.

Once everything is done fully, leave it. Now, switch on the Oven and preheat it for 5 minutes at 200 degrees. After switching it on, you may now crack all the eggs into a cup/glass.

Switch on the blender and pour in the first egg, blend it for max 10 seconds, pour in second egg and blend for 10 seconds until you complete all the 4 eggs. After the last egg, stop blending after 10 seconds. If you blend too long the cake may have a crack on the top later. It will still taste nice but will not look nice.

Take out the cake base from the fridge, pour in the mixture and put it into the oven. Turn the temperature to 250 degrees for 15 minutes. After 15 minutes, reduce it to 120 degrees and continue baking for the next 2 hours. Typically, you need to reset the timer since it is just one hour. After two hours, insert in a toothpick in the middle of the cake. If it comes out WET, continue baking for another 30 minutes. Redo the testing until the toothpick comes out dry. 🙂  Normally, the max you need to bake it just 2.5 hours, unless there’s something wrong with your oven. 🙂

Once finished baking, leave it in the fridge overnight. It will taste amazing the next day. Welcome to the gang, Coffee Cheesecake CHEF.

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Bali tourism sector may be affected with this new law. (Not just Bali lah but Bali is one of those visited by the ones whom may be affected yeah.)

I think Bali is a nice place to visit

I have been to Bali many times. First time was for a Toastmasters’ Conference. Second time was with wife. Third time was with my whole family including my parents, brother, sister and their spouse. Fourth time was with my wife’s family; my in-laws. So, you can safely say I love Bali. In fact I do think I will be back there next year. It will be a toss between Phuket and Bali since I would like to go to Hong Kong too. Cannot afford so many international destinations. Must manage the budget lah. However, Bali’s tourism may be affected somewhat yeah. Why do I say so? Read on about a new law in Indonesia.

Article in nst.com.my
   Indonesia’s decision to outlaw cohabitation and sex outside of marriage may hurt the tourism industry in Bali, travellers and businesses said. Currently, Indonesia bans adultery but not premarital sex. The new criminal code says such activity can only be reported by limited parties, such as a spouse, parent or child.

Indonesia this week introduced a host of laws, including banning insulting state institutions and spreading views counter to the country’s secular ideology, in addition to morality clauses.

“If I can’t stay with my girlfriend in a hotel together, I’d think twice about it,” said Wu Bingnan, a 21-year-old tourist from China who was visiting Bali.

Changes to the criminal code will only come into force in three years’ time, but Maulana Yusran, deputy chief of Indonesia’s tourism industry board, has said the new rules were “totally counter-productive”. Do read the article in full here.
Article in nst.com

Couples may skip Bali, maybe?

I have no idea how they would be able to enforce this without breaking into the hotel room and actally catching the act. Of course, for those who somehow was caught, I really do not know how big this news would become. This is why I think couples who would like to go to Bali would think thrice. It’s not because they are going there to violate the law. It’s because there’s little need to risk because there are plenty of other destinations if ASEAN is the destination. Phuket may be one, Palawan islands may be another and hey, maybe even Singapore’s Sentosa beach?

Safe for families lah. Perhaps this is why the Indonesian government thinks it’s okay?

I would have no issues to go to Bali. Haha. I shall bring my wife and my kids. I looked at the hotels and it does seem very desirable actually. Take a look.

Not new law which is effective now

It’s 3 yes later. Many things could still happen. In the mean time, please do visit Bali as usual. It’s worth exploring yeah. Food is pretty okay. Kuta Beach is okay but not white sandy beach yeah. It was very happening in the evenings last time. I do think it’s going to become like pre-Covid 19 soon. The only difference is that, 3 years later, the tourism sector may really be affected. Perhaps by then, the number would have exceeded Pre-Covid 19 that it does not matter? Since total number may be more? We shall see.

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Balik Pulau versus mainland Penang?

I was in Penang this weekend with my family. When I was driving past a huge billboard, my mother asked, ‘only RM700,000 for a double-storey landed home in Penang?’ She asked because my condo in Sungai Ara was sold was RM645,000 2 years ago. How could a landed property within Penang be only slightly more expensive? I replied, ‘That’s Balik Pulau.’ I told her that Balik Pulau is considered a secondary choice for Penangites because of the distance as well as the development. No malls, no trendy cafes, no proper entertainment outlets and not a preferred residential area since the day I first arrived in Penang back in 1998.

Even though I love Sungai Ara, but I think Sungai Ara suffered from the same stereotype too. Yes, I definitely prefer Sungai Ara even over areas such as Tanjung Tokong (hey, I have a condo here too) and Gurney or Georgetown. Perhaps Gelugor and Greenlane have their advantages but both places are by far more expensive than Sungai Ara or Balik Pulau which brings us back to the question of
affordability versus size and location
.
  Coming back to Balik Pulau, there’s not much happening there apart from the best durians in Penang as well as cheap laksa and “ais-kacang.’ She nodded her head in agreement. I do not think she wanted me to buy and stay in Balik Pulau.

Has Balik Pulau been forgotten? Well, all the news about the mainland of Penang seemed to point to that direction. When it’s island vs mainland, somehow the island does not really include Balik Pulau. Just look at the prices of the landed properties in mainland versus Balik Pulau today. Hey, the differences are actually negligible and some projects in the mainland, especially those by famous developers are already priced higher than the one my mother asked me about. WHY? Second bridge, Penang Transportation Master Plan (PTMP), IKEA (though it’s 2018 or further) and many others. Basically, the focus is on affordability in mainland versus island without including Balik Pulau.

Personally, for those who really do need a decent landed property home and is working in the Bayan Lepas Industrial area, I do think Balik Pulau remains a viable choice where landed and affordability is concerned. Please do not say it’s far because it’s definitely not further than crossing the Penang Bridge 2, ok. In terms of choices, just drive there during the weekends, view a few and enjoy a bowl of ice-kachang. Perhaps it might just be that home sweet home that you are looking for, without burning your wallet too much. Happy property searching in “Back Island.”

written on 2 Feb 2016

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Balik Pulau properties – I cannot accept!

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Balik Pulau A Hidden Gem

We love Penang food. We love the sun, the sea and the relaxation with an island. It’s even a UNESCO Heritage City, so we are virtually living in a city with a great past and potentially an awesome future. How about getting a property there? Where? How? When? What? If answer is Yes, do attend an upcoming talk for property investment within the Penang island. Yes, within the island but not yet considered a prime area even for Penangites. Ask them about their few favourite areas and it has remained the same then, now and perhaps many more years to come. However, look into some of the prices even within the few property sites and it will tell you that virtually all areas in Penang has experienced a surge in property prices. So, should you still buy only those few areas that Penangites love?

We can all learn a few more things about Penang property market when you drop by the “Balik Pulau A Hidden Gem.’ talk in the next 2 weeks.

The topics they will be covering include:

Details are as follows:

Date: 14th January 2017

Time: 2 – 530pm

Venue: Level 5, Matahari 1, Cititel MidValley, Kuala Lumpur

Seats are limited.

Please do reserve them here:
www.miichaelyeoh.com/seminars/balikpulau/

Property investment is everything about learning and buying. Obviously, the learning must come before the buying. Else it is purely speculating. That question of what’s the best area to buy should never be asked to friends whom you may not want to trust your hundreds of thousands of ringgit with. The only way is to keep learning, listening from many experts and then decide which one fits you the best. Reminder, decision should come from within. Happy learning.

Read about Expert Series with Miichael Yeoh here:
Expert Series with Miichael Yeoh

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Balik Pulau? Some POTENTIAL insights.

I still remember the time when I was looking to upgrade to a bigger place from my small apartment of 700 sq ft in Relau. I considered many places and Balik Pulau was one of them. There were a few projects that my wife and I drove to and one of it was
Botanica. CT by MTT Properties & Development Sdn Bhd. The
 price for a terrace home then was below RM300k if I remember correctly. At the time, the construction was going on feverishly. It took my wife and I around 45 minutes to reach the place from our home in Relau via the Bukit Jambul hill road. Frankly, at the time, I love the space that Botanica 1 terrace home was offering, as well as the potential capital appreciation because this is still a landed property and Penang island is still just an island. 🙂  My wife said, ‘It’s far.’ I reminded her that even when we were staying in Relau, it still took her at least 30 minutes to reach her office in Bayan Lepas. Anyway, she won the argument, we did not buy it then and recently, I told her that the price of the same unit we saw has doubled. ‘We should have bought a unit,’ was her answer. Haha.

Let’s look at the latest stats about the actual travelling time. We ask our most reliable friend, GoogleMaps. By the way, I do not usually believe what my friend tells me about travelling time because once we are used to a certain area, the travelling time somehow shorten tremendously! Let us look at a typical weekday. We also look at the typical time that my wife used to leave our home in Relau previously. You can see that the time needed for the journey from Balik Pulau to the Bayan Lepas Industrial area is between 35-55 minutes. Please do look closely and you would realise that the JAM is actually within the Bayan Lepas area and not along the road from Balik Pulau. In other words, whether we stay in Balik Pulau or we stay in Batu Maung, we will still face the same jam. Seriously, I think travelling time is not the main reason why we should buy a place.  My old friend who stays in Balik Pulau told me she does not feel the duration because she has travelled the same road for 10 years!

Beyond this, Balik Pulau has a few more POTENTIAL insights. Let’s look at a few of them shall we.

Potential capital appreciation – Balik Pulau is still growing and has lots of room to grow still. Please do not ask me if prices would double again within the next 10 years. Seriously, you should not believe anyone telling you that it will double in price. However, just ask Penangite if they believe that property prices would stop rising and the answer is definitely a NO.

Prince of Wales Island International School (POWIIS)- It is not easy to run an international school if there are insufficient students. There are insufficient students when parents refuse to send their children there, probably because it is not good, too far or even just because they were not staying nearby. POWIIS today? Take a look at it today.
https://www.powiis.edu.my/

I think it has grown tremendously and is now very prominent in Penang.

Continuous developments – Balik Pulau has become a magnet for developers who are eyeing developments within the Penang island. Big names, small names and even boutique ones. The reason is a similar one. They are building because the demand is growing. The demand is growing because people are now thinking of Balik Pulau as just another choice within the island. This by itself is an awesome reason.

Penang island is still an island – If we love to live in the island and thinks of mainland as a second choice, then just note that the available land for development within the island is not growing, except for the reclamations which I believe you are also aware of the price per sq ft that is being offered today. In terms of affordability vs size vs duration, it’s obvious that there are just a few choices left currently.

Durians – This is just a funny reason but hey, every year we get access to durians by being closest to the source. Seriously, durians will become a luxury because the Chinese from China are coming here to taste them. This is the reason why it may be tough for the durians to even leave Balik Pulau in the future because there is just not enough to go around.

Additional statistics? From my good friend’s site.
miichaelyeoh.com

According to Department of statistic as of the year 2010 the total population in the area are 32,489. Today definitely the figure is much more.

Source:
http://www.penangmonthly.com/the-back-of-the-island/

Happy looking for your home sweet home, especially for a growing family and new couples. This is going to be a long term investment and not just buying a property. Cheers.

written on 10 Nov 2017

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Time to know what’s UP with Balik Pulau property with an expert. (Not me lah)

Readers of kopiandproperty.com would know that I am not a supporter of only considering hotspots of today. My view is always that we should also look at the future potential as well. Remember, many hotspots today used to be ‘unknown’ or secondary considerations previously. I recently wrote about Balik Pulau and some friends based in Penang (non-Penangites) asked me if Balik Pulau is really a potential upcoming residential area. Here’s that article:
Balik Pulau? Some potential insights

Frankly, I prefer it over some hotspots which is already beyond the salary range of the middle income professionals, even when they try to buy it as a couple. If we are talking about Penang as an island, then we know that land is limited. That’s why there are so many hill slope developments. If we are looking at it from the electronics industry, then the largest concentration within the island is in Bayan Lepas area. In other words, perhaps the professionals in Bayan Lepas may want to see beyond just the high-rise. Perhaps landed is still a possibility. Do not just read.
Sign up and follow Miichael Yeoh
 on his upcoming due diligence cum property tour in Balik Pulau. You may even ask him as many questions as you want. 🙂  Here’s
the sign-up link.

Miichael has also gone to
Botanica Mansion in Balik Pulau.
 Having listened to Miichael no less than 10 times over the past 6 years, I can safely say that there are new things to learn every time. I am not as diligent as him because he visits showrooms, speaks at property events and even have meals with other property people. I asked him, ‘Where do you get your energy from?’ He said that he has helped so many people buy their dream homes and that is a satisfaction that he looks for. Join him on his next property walk-about tour.
Sign up here.  It’s FREE by the way.
 Who knows, your home sweet home is about to be discovered?

http://https://www.youtube.com/watch?v=cJb0P9gLefQ&t=10s

Happy touring with him. Sign up here.

Too bad, I am travelling, else I will also drop by and say Hi. As for answering questions, Miichael is the best man to ask. Happy evaluating if it’s indeed too far, too ‘ulu’, nothing to do, not attractive etc. Our home sweet home should also come with potential capital appreciation.

Details here:

DATE AND TIME

Sat, December 16, 2017

10:00 AM – 6:00 PM

LOCATION

Botanica Mansion

156, Jalan Sungai Ayer Putih

Balik Pulau, Penang

written on 22 Nov 2017

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Cannot accept Balik Pulau?

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IF you really love landed within Penang, spend some time and decide after.

I wrote about my personal experience with Balik Pulau property earlier. Read here:
What’s UP with Balik Pulau?

There is one upcoming study tour to understand whether Balik Pulau can be your home sweet home. Instead of reading bits and pieces here and there,
sign up to know more.
  In terms of comments, Balik Pulau people would tell you it’s a good place to stay while Tanjung Tokong people would tell you Balik Pulau is FAR. So why not go to the actual place and ask lots of questions to Miichael Yeoh? The below is the full agenda for the “Discover Balik Pulau”by Miichael Yeoh. Please refer to the below for your reference.

Organiser: GM Training Academy

Date:
 16th December 2017

Venue:

Botanica Mansion,

Jalan Sungai Air putih,

Balik Pulau, Penang

Time:
 10am – 6pm

Event highlights:

Discover Balik Pulau Tour

Balik Pulau talk by Miichael Yeoh

Botanica Mansion heritage tour

Kids Coloring contest (Please bring you own coloring set)

Goats Farm

and many more

At Discover Balik Pulau tour, you will go through the history of Balik Pulau, attractions, the upcoming development and also projects showcase.  Please write down all your questions in advance to ask!

* For Discover Balik Pulau tour please be there by 10.30am. The tour will take approximately 2 hours.

Click here to register for the event

http://https://www.youtube.com/watch?v=cJb0P9gLefQ?rel=0

The tour will end by noon and right after lunch, Miichael will be sharing about “The future of Balik Pulau”. He will provide facts and findings to all the attendees. I am travelling and would not be able to join but please do tell me after the visit. It may or may not be your home for a long time to come but Penang island will always retain that special value because it is still just an island. Well, unless reclamation can be done cheaply and new homes built on them are not priced very high. Happy listening.

written on 8 Dec 2017

Next suggested article:
Balik Pulau? Some potential insights

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Balik Pulau properties – ‘I cannot accept’.

‘I cannot accept Balik Pulau’ I remember this guy clearly from a property show some time back when I was with my previous company. He was browsing through Penang properties via a notebook provided and he clicked ‘Balik Pulau’. So, I went up to him and casually asked, ‘Thinking of Balik Pulau properties?’ He said, ‘I cannot accept Balik Pulau’. I smiled and said, ‘happy browsing’. He continued to look through the properties in Balik Pulau and continued to show negative face expressions. Have you come across such situations before? You hate something and yet you continue to search information about it? The real reason why you are searching for additional information is to justify why you hate that something.

I remember an argument with a friend who said Gelugor is MANY times better than Sungai Ara. She said Gelugor to bridge is just 15 minutes. Yeah, perhaps it is but today, Sungai Ara is 15 minutes away from the first Bridge as well as SECOND BRIDGE. Quite glad that I was able to think rationally and objectively; the second bridge may take a bit of time but it will be completed. Until today, I do not believe there is such a thing as a bad area. Don’t believe me? Try buying one of the landed properties just a stone’s throw away from the Penang Prison. Don’t tell me that’s a GREAT area? Yet, the prices are crazily high. Those who bought earlier must have been criticized like crazy, why did you buy next to the prison!?

Coming back to Balik Pulau. I do not own a Balik Pulau property, yet. However, these days, I am very open to the idea of owning a nice property in Balik Pulau. No, not for rental. That would be negative but for own stay, yes I would. I seriously feel that Balik Pulau today is just like when I first started to buy Sungai Ara. The main catalyst in Sungai Ara was when a few developers began to seriously develop good new products. Are these developments happening in Balik Pulau too? Some names that you may want to find out more. Botanica CT, The Garden, Orchardia, Prestige III, Sierra Pinang, Springtide Homes and even SP Setia which owns a piece of land there too. I do not believe one SP Setia can bring up the whole Balik Pulau. However, there are certainly reasons why out of so many places in Malaysia, they chose to also own a piece of land there.

written on 3 March 2014

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Press Release: Bandar Alam Suria, The Holistic Living Experience

REside, REvitalise and REconnect in a sublimely-rendered township

The emergence of Puncak Alam from a quaint area into prominence has always been a great achievement that marvelled property buyers and investors alike. It is an unspoken testament of IJM Land’s skill and expertise at developing prime lands into flourishing townships, being the pioneer town maker for over two decades, since 2001.

But to truly appreciate the efforts that this master developer has woven into Puncak Alam, one must delve deeper by observing the nascent township that is Bandar Alam Suria. The integrated township development spans over 1,163 acres of prime land, meticulously crafted and well-thought-out. The vibrant mix of residential and commercial projects nestle within a prime location, away from the bustling city, yet within arm’s reach to a wealth of conveniences. The township now has around 28,000 residents, with another influx projected in the near future, making it an excellent investment for owner-occupiers or investors.

Surrounded by the wonders of nature, residents always feel blessed when they return to their abode in Bandar Alam Suria. Cold breeze sweeps the rolling fields, and trees carefully planted along the lanes provide ample shade from the heat of the sun.

Upon returning home, you are greeted by the symbol of the Gerbera Flower at the entrance, which reflects the meaning of joy and cheer. With the meaningful tagline, Bringing It All Together, people from all walks of life can expect a complete township with a wide range of amenities, providing all the required elements for a comfortable lifestyle and more.

malay family having quality time in a park with morning mood

Rediscover a township to call home

Known as the City of Leisure, Bandar Alam Suria redefines living with the three REs—REside, REvitalise, and REconnect. Residents can REside in comfort while enjoying peace-of-mind living. Our weary souls are REvitalised by the lush nature and retail therapy. Then there is the park and all its splendour, REconnecting us to the community and our loved ones.

Connectivity, convenience, amenities, environment and a safe neighbourhood await those who claim Bandar Alam Suria as their home. Around 51% of the development is dedicated to various types of residential units, such as bungalow lots, bungalows, semi-detached houses, courtyard homes, linked semi-detached houses, superlink homes, terrace houses and apartments.

Then 3% of the development has been designated for commercial purposes, the completed Dataran Suria and Suria Square, the latest launch which is bound to liven up the area with additional footfall and job opportunities. On the other hand, 46% of the development is allocated for institutional development, amenities and infrastructure. Up till now, around 55% of the township has been completed.

Nature lovers will be thrilled to return home to over 450,000 sq ft of lush greenery, not considering the vast Central Park which is the gem of Bandar Alam Suria.

The 11 acres park beckons, with its myriad pedestrian walkways, jogging paths and cycling lanes, allowing residents easy access to the green landscape. Over 500 trees and 1,290 shrubs decorate the park, which in itself constitutes 13.43% of green spaces for the entire township. Facilities are aplenty, ranging from the multipurpose court, skate park, children’s play area, open-air amphitheatre and more.

Gazebos and benches intersperse the area, providing residents with a place to relax or appreciate the sights and sounds of nature. To promote inclusivity, universal design has been incorporated into the park, such as wheelchair ramps and more. These collectively create an environment that fosters well-being among the community while encouraging a healthy and active lifestyle.

A story of tranquil homes and leisure

Take a pleasurable stroll down the picturesque ponds in the middle of the neighbourhood, or simply bask in the cool atmosphere of your home, thanks to the north-south orientation. Sitting there, you might catch sight of a kite flying in the afternoon wind or an exotic bird spreading its wings in the light of the waning sun. If the natural wonders of the park do not satisfy, nature lovers can ramp up their adventure by visiting the forest reserve nearby.

The hiking trails leading up to Bukit Cherakah present a splendid challenge for those looking for a more intensive experience. People who summit these hills are blessed with a truly unforgettable sight over the surrounding area.

Where amenities are concerned, residents have easy access to schools, medical centres and also the commercial hub within the township. There are such as Lotus’s, Econsave, Jaya Grocer and KIP Mall to fulfil your daily requirements while emergency needs can be met at the Hospital UiTM. Educational institutions are such as the UiTM Puncak Alam campus or the primary and secondary schools nearby.

Concerning connectivity, Bandar Alam Suria has easy access to Shah Alam, Petaling Jaya and Kuala Lumpur. The township is well linked to highway networks such as the North Klang Valley Highway, Federal Highway, ELITE Expressway, Guthrie Corridor Expressway and LATAR Expressway, among others. Bandar Alam Suria is equivalent to a finely-tuned balancing scale, preserving the sanctity of nature on one hand while maintaining all the modern conveniences on the other.

For more information, visit

www.alamsuria.com.my
 or the sales gallery at Bandar Alam Suria.

-End-

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Penangites, you have another affordable choice within the island. (not mainland)

Someone once told me that the developers who build affordable units in Penang must be savvy to the fact that Penangites do not buy in mainland Penang and stay in mainland Penang. (Prai, Butterworth, Tambun etc…) I reminded him that Penangites should include both the island people and those in the mainland too. He laughed.

Anyway, it’s quite true yeah. People who have stayed in the island their whole life will not want to move to mainland and this is one major reason why price difference between both sides remain huge despite them being just a bridge apart. Only 13km+ apart to be exact. Perhaps the toll may have also played a part, right? RM7 per day is still hefty if one were to work in the island and staying in mainland. There’s now another affordable choice within the island.

Article in edgeprop.my
  Ideal United Bintang International Bhd’s wholly-owned subsidiary Ideal Capital Venture Sdn Bhd had today signed a head of terms with PR1MA Corp Malaysia to jointly develop RM828.6 million worth of properties at
Penang
‘s Bandar Gelugor. In a statement, Ideal United said, “This development is expected to contribute positively towards the revenue and earnings of Ideal (United) in accordance with the stage of progress to be recognised over the next three to five financial years.”

“The development does not entail different risks other than those applying to the existing business of Ideal (United), being property development which includes, inter alia, general business risks in relation to the industry, impact of government policies and regulation on the industry, competition and dependence of key personnel. The company will take necessary steps to mitigate the risks as and when they occur.” Please do read
Article in edgeprop.my

I did not find any news about the number of units to be built. However, if we assume the price to be RM350,000 per unit and the RM828.6 million being mentioned in the article, then total units may be around 2,400 units? Not a small number indeed but as my Penangite friend would say, if it’s built within the island, the demand will be greater. Plus it will be built in Gelugor which is traditionally a preferred area for most Penangites too. I even had a debate once upon a time ago with someone who said that my home in Sungai Ara is not strategic but her home in Gelugor is. The reason? Gelugor has lots of amenities and it’s also near the Penang first bridge. Well… whatever. Happy waiting Penangites.

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Bandar Malaysia, 5k affordable homes on fast-track basis

I wrote about Bandar Malaysia earlier when some colleagues asked why is Bandar Malaysia still popular. Read here:
Why are there interest with Bandar Malaysia
 Today, we have some good news to share. It was reported in all major Malaysia dailies today. A few agreements were signed today for Bandar Malaysia. They included those of Ministry of Finance Incorporated (MOF Inc) and Johor-China consortium IWCH-CREC Sdn Bhd (ICSB) as well as other relevant parties. China remains committed through CREC in ensuring Bandar Malaysia comes to fruition. Earlier news here:
US$2 billion (RM8 billion) from CREC into Bandar Malaysia

Besides that a consortium of banks have also teamed up to provide funding for investors. These banks include those of Chinese and Malaysian banks as well as some of the largest banks in the globe such as Bank of China, Industrial and Commercial Bank (ICBC), China Construction Bank (CCB) and HSBC with local banking groups such as CIMB, Maybank, RHB and Affin Bank. The consortium of banks have a total asset base of USD12 trillion and I think with this, Bandar Malaysia’s development can benefit from the global exposure as well. Another MOU was also signed with MRCB which will build Bandar Malaysia’s integrated transportation terminal over an area of 60 acres.

MORE IMPORTANTLY, 5,000 units of
affordable homes

would be built within the phase 1 of Bandar Malaysia on a fast-track basis. Let’s see when this would be completed. Besides that, the master developer of Bandar Malaysia and its wholly-owned subsidiaries would also be granted incentives such as income tax exemption for 10 years, stamp duty exemptions for 8 years, RPGT exemption for 8 years, exemption from withholding tax for 8 years and import duty exemption on selected construction materials not being manufactured locally.

Even more importantly, despite all those reports of
oversupply of offices
, Malaysia continues to attract more high-ranked global companies and financial institutions. This would be through tax incentives as well as industrial building allowance, accelerated capital allowance, rental payments deduction, stamp duty exemption for service agreement or pre-package incentive to other investors and tourism operators. Happy investing in Bandar Malaysia.

written on 16 June 2016

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Bandar Malaysia: The search for the ONE restarting.

Source:
http://www.bandarmalaysia.my

It’s a big thing. It was a widely shared news with everyone having their own interpretations. TRX City Sdn Bhd (TRX) has announced that IWC CREC has been ‘terminated’ from the Bandar Malaysia development. TRX is an indirect wholly-owned unit of the Finance Ministry. The reason cited for the termination was that IWH CREC had failed to meet payment obligations. We have heard of TRX’s side of the story. IWH CREC has shared that it has fulfilled all the required payment obligations and that TRX’s allegation is contrary to the conduct of the parties and the spirit of the Share Sale Agreement sealed in 2015. IWH CREC said, “We have sufficient financial resources and capabilities to ensure the smooth and successful execution and implementation of the development of Bandar Malaysia.” It added, “We have written to TRX informing its unilateral declaration that the Share Sale Agreement has lapsed is unacceptable. We reserve all its rights in this matter.”

Anyone who’s familiar with KL would have driven past Bandar Malaysia. It’s an urban redevelopment of the military airport in Sungai Besi. This is a piece of land adjacent to the Tun Razak Exchange. According to
its site, this is its mission.
“Bandar Malaysia will be a world-class, master-planned development of the highest standard. It will stimulate Malaysia’s future economic growth through key economic drivers and be an exemplary and sustainable mixed use community of the highest standards; where nature, culture and creativity are part of everyday life. Commerce, Community and Culture come together in the future of Greater KL. Planned around the principles of connectivity, sustainability and livability – Bandar Malaysia will elevate the city of KL to greater heights by introducing new ways for its people to live, work, recreate and learn.” (Sounds promising and I am a staunch supporter for any development that continues to elevate Malaysia’s status as a prominent property investment destination for the world)

My own opinion of the matter? Seriously, whether its IWC CREC or any other new master developer, the most important thing is that this is just a slight delay. Perhaps a slight delay for 4 weeks till everything clears up and some new names are mentioned by media? Yes, I have my own prediction on the potential new master developer for this too. I have no access to any special information, just my own thoughts of some possibilities. Yes, I love
China’s involvement with Malaysia.
However, it does not mean that anything and everything has to include China’s involvement, right? By the way, those affordable homes promised within Bandar Malaysia? That must be a priority too because I think it will be snapped up fast, especially by those working in the city centre. In theme time, just sit back and start viewing more units. I just read in the Facebook of a prominent property guru and author that the market may be staying flat for many more years to come. Happy following.

written on 5 May 2017

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Bandar Malaysia may cause even higher oversupply?

I do not subscribe to the notion of unsold homes equal to oversupply of homes. The reason is very simple. More than half of all my younger friends do not own a home yet. When asked if they would like to own a home, the answer is a firm, YES. When asked where is the location they like? It’s always a location nearer to the place they work. Where do they work? Most of the time, somewhere within the Kuala Lumpur city centre or the fringes.

This is the reason why I do not see the current unsold unit as a main reason NOT to continue building more appropriate properties for the people. Just look at some recent launches where the offering meets the requirements of the buyers. It’s usually snapped up within a short time frame. It’s applicable whether it’s landed or high-rise units. Key reason is location and price.

Bandar Malaysia is around 6km away from KLCC. In other words, location wise it’s already extremely suitable for many working professionals. As for the new number of people moving into Kuala Lumpur for jobs every year, that’s a few hundred thousands yearly. This meant that demand for homes is not usually increasing by a few thousand units per year. It’s going to be easily tens of thousands every year.

Article in edgeprop.my
  When Tun Daim Zainuddin was asked about Bandar Malaysia, he said his comments are based on what was written in the newspapers. He said,  “I’m worried about the huge overhang. They’ve mentioned it could be over RM20 billion and there have been reports about this. I mean you don’t develop unless you have buyers isn’t it?.”

 When asked about the domestic property market next year and if new properties coming in were not good idea. He said, “They’re very concerned now. There are already reports regarding this. What I’m telling you now is what’s been written in the papers. What I say and what I know is from the newspapers.”

The 486-acre Bandar Malaysia is the largest piece of development land in the heart of Kuala Lumpur. It is located at the site of the former Royal Malaysian Air Force base on Jalan Sg Besi. There will be a total of 10,000 affordable housing units within Bandar Malaysia as well based on new terms for the development.
Article in edgeprop.my

Let’s be reminded that Tun Daim said this, ‘I mean you do not develop unless you have buyers isn’t it?” This is the most important sentence because whether it’s 10,000 or 5,000 new affordable units, if they are built in some secluded locations for example, then better not build yeah. As for all these units, if they are priced higher just because the location is a premium one, then it’s also possible that the buyers who wanted to buy may not have their loans approved. Let’s wait for more details of these affordable units to be able to make better decisions whether to buy or not to buy. As well as whether the units will most probably become an unsold unit too. Happy following.

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Bandar Malaysia: Positive possibilities?

Positive possibilities. Quite some time back, I wrote about Bandar Malaysia when some colleagues remarked that they have NO IDEA at all why people get excited with Bandar Malaysia. It’s here:
Why are there interest with bandar Malaysia?

I argued that this is an interesting piece of land. Well, yesterday I wrote about the
termination notice from TRX to IWC TREC

and what would be some of the potential new possibilities / combinations. The reasoning remains the same. If this is a piece of land in a small town, it will NEVER be so interesting. Now I read about the possibility of Dalian Wanda teaming up with Malton Group plus the potential of our Employees Provident Fund (EPF) taking a part. What if somehow they could squeeze in a Wanda theme park as well?

Here’s the full report in TheStar:
Malton, Dalian and EPF teaming up for the job?
 Who is Dalian Wanda? I have also written about them some time back. They are so big that their owner has challenged Disney’s parks in China.
Wanda City vs Disney, choosing one or going both

Who is Malton Group then? Well here’s an older news about them.
Bukit Jalil City integrated development and secondly choices

Yes, Malton is the developer of Pavillion KL which continues to do well amidst current slowdown in retail growth. Mentioned in the report was also this sentence, “Lim and the Malton group have in the past been associated with the Bandar Malaysia project. The foreign partner at that time was said to be Qatar Investment Authority, the sovereign wealth fund of that country,” said a source. (In other words, this is not a totally unfamiliar name, just that it did not get the opportunity with Bandar Malaysia after QIA exited.)

Source:
http://www.wanda-group.com

Assuming both of them would be teaming up with EPF, then I think it’s a win-win for EPF contributors. Our money is being invested into a development which should do very well because of the fact that it’s going to be connected to the
High Speed Rail which is estimated to be completed by 2026.

Here’s also some additional about Dalian’s property credentials. It’s unit, Wanda Commercial Properties is the world’s largest commercial property enterprise, holding a combined 32.33 million sq m of property space. It has opened 187 Wanda Plaza projects in Beijing, Shanghai, Chengdu and Kunming with plans to open 50 more in China this year. No one knows yet and no announcements from the decision makers yet. So, we can only wait to see if the master developer who was dropped has really dropped out or if this ‘new team’ will take over. Who knows, another few teams are announced soon? For all the other teams, do make EPF a partner. My money is inside EPF…. As for whichever media that says they are trying to ‘rescue’ the project, I think you really look down on Dalian Wanda. Please stop doing this. Cheers.

written on 6 May 2017

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Latest. Bandar Malaysia, what’s the progress?

I guess we have been reading many Bandar Malaysia related news a few years ago. It was linked to HSR KL – SG news too. Then, everything seems to have quietened down and even the HSR KL – SG had been postponed a few times. Now Bandar Malaysia is restarting… The GDV is said to be super huge and the shareholders for the development has also changed too.

To recap, Bandar Malaysia is a urban REDEVELOPMENT project on the land of the Sungai Besi airport site in Kuala Lumpur. It’s 486 acres in size. It will also be the terminal station for the HSR KL – Singapore and it will have connections with the MRT and other public transportation lines. This meant that it will be a second central railway station after KL Sentral. Once the HSR is completed, anyone starting their journey from this station will reach Singapore in 90 minutes. (hopefully this spec will remain when they announce the project restart later this year).

Latest news about
Bandar Malaysia in nst.com.my
   Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz says that Bandar Malaysia will boost business across all sectors of the economy and will have an economic multiplier effect for the whole country. He said, “With a gross development value of RM140 billion, it will be the biggest development of its kind in our country. This project will unlock tremendous potential, with high-impact global businesses and talent attraction towards Malaysia, in line with the government’s vision of ensuring prosperity for all.”

Bandar Malaysia development will be carried out by bandar Malaysia Sdn Bhd. IWH-CREC will take up a 60 per cent stake in Bandar Malaysia Sdn Bhd, the project’s master developer, from TRX City, with the remaining 40 per cent held by TRX City. Republic of China’s Ambassador to Malaysia, Bai Tian, said, “This is one of the largest projects invested in by Chinese companies in Malaysia, and also draws huge expectations from both countries as well as the rest of the world.”
Please do read the full article in nst.com.my

The things I hope Bandar Malaysia will be able to do includes the following:

Let’s go to SIngapore in 90 minutes. I could already imagine Singaporeans visiting KL during weekends like them visiting JB today.  Please remember that over 90% of Singaporeans do NOT have a car…
Solve the congestion at the Sungai Besi area. It’s still very bad today. Probably due to the never-ending constructions?
Share the ‘Central Business District (CBD)’ with KL city centre so that the growth can continue versus becoming way too expensive if we have just one CBD. Anyway, in many major cities, they have more than 1 CBDs.
Get in lots of new investments yeah. From overseas, not from Malaysian investors alone. Please do something about the property part yeah. It’s big enough for more than just Malaysians.

Okay, actually there’s no end to what I hope Bandar Malaysia could do. However, assuming the GDV of RM140 billion comes to fruition and we look at just a multiplier effect of 4 times, that would already have an economic effect of up to RM560 million to the economy. Plus all those businesses setting up and getting more businesses? This is why it is such a WHOA… must proceed and must do for Bandar Malaysia.

Happy restarting and move ahead smoothly.

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Bandar Malaysia? What’s up? Or Nothing’s Up?

Remember this project?  Where there were supposed to be 10,000 affordable homes to be built for Malaysians?
This was the article stating this fact in 2019.
Let’s just hope all will still happen for the benefit of many Malaysians needing an affordable home within 10km away from KL city centre yeah. Bandar Malaysia is in a good location as far as distance is concerned.
It’s not easy when the GDV is super high

When a project is super duper huge, say GDV of RM50 billion, then it will take a long time to plan and execute. Well, what happens if a project is having an estimated GDV of RM200 billion then? One that will transform what we think about Sungai Besi and also be that connecting hub to Singapore? Okay, the High Speed Rail (HSR) has been stopped (or deferred for now). What happens to Bandar Malaysia? Briefly, nothing’s happening for now.

Article in themalaysianreserve.com
   According to a joint statement by Tun Razak Exchange (TRX) and IWH-CREC Sdn Bhd (ICSB), the deal is lapsed since the Conditions Precedent in the agreement have not been fulfilled by the respective parties within the Condition Precedent Period.

“TRX City and ICSB had been working together to find solutions to preserve the partnership to realise the common vision of unlocking Bandar Malaysia’s potential.

“Despite such efforts, to-date, the parties have not been able to mutually agree to the terms of the extension of the Condition Precedent Period. Thus, the Agreement is now deemed null and void,” the statement added.

The RASSA for the sale of 60% shares of BMSB to ICSB, the joint venture between Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corporation (M) Sdn Bhd, was executed
on December 17, 2019.
  Do refer here for the full article:
Article in themalaysianreserve.com

It’s also timing and circumstances too

By the way, no parties would want to start anything big at a time when the sentiment is not so positive, when nothing much could be done even after any agreements are signed and well, there’s nothing wrong to wait for a better timing again and tell the world that something’s happening soon.

Location wise, this is the only final piece of land within 10km away from KL city centre which is huge and could be developed for a long time to come. It’s 197 ha (486 acres.) This is why the groups who will be combining to develop it would have to have both the expertise and the finances too. Let’s hope we do have the best of both as the future developer. Will continue sharing if there are further news.

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Bandar Malaysia’s 12 world-class towers starting in 2021. Positive?

There are more news about Bandar Malaysia recently. Hopefully it will go smoothly and let’s attract more Foreign Direct Investment (FDI) into Malaysia yeah. Of course, if we would like Bandar Malaysia to become successful even more faster, then we should also have the High Speed Rail (HSR) as well. For this one, we would need to wait for the year end meeting between the ministers from both countries yeah. Please do not delay that meeting any further yeah.

Image source:
https://www.nst.com.my/property/2020/09/626299/bandar-malaysia-start-over-12-world-class-towers-worth-rm10-billion-2021

Article in nst.com.my
  Iskandar Waterfront Holdings Sdn Bhd (IWH) executive chairman Tan Sri Lim Kang Hoo was asked about the potential for a glut of office space if Bandar Malaysia builds 12 world-class towers with a gross floor area of over 12 million square feet in Phase 1. He said, ” We have done our homework and property boom-and-bust is a cycle. Statistics show that when there is a bust, the recovery comes within three years and the boom lasts much, much longer.”

Lim also explained that Bandar Malaysia will also contribute hundreds of thousands of job opportunities and economic spillovers across major industries. He said, “Thousands of people, including expatriates, will be working on this project in the next four to five years. They will require office space, and a home to stay and they will be looking at the KLCC area as Bandar Malaysia is not too far off from there.”

Lim explained further, “We need a massive project like Bandar Malaysia to attract FDIs and talent from around the world and reduce the glut in the property market. There must be large scale economic activities and the project itself must be attractive in terms of its product offerings. We are building a smart, intelligent city…a new CBD.” Do read the very comprehensive article here:
Article in nst.com.my

No need for offices anymore? Stop joking yeah.

There has been many predictions that all the many MNCs which are based in office towers will be moving to smaller offices as they would get their staffs to work from home (WFH). I like to say that I disagree with this prediction. All the so-called efficiencies gained from WFH is unlikely to be for the long term. A short meeting which could help in decision making could have taken minutes within the same office may now be many hours away because the person we wanted to speak with happened to be ‘missing in action…’ Many more reasons but do feel free to disagree yeah.

Glut will NOT be due to new offices, it is due to lack of demand growth

As for the news about the potential of glut of offices, this will NOT be due to more new offices being built. It will be due to fewer MNCs coming in, due to fewer new startups, fewer corporate offices etc. So, as long as are able to attract more MNCs to come, encourage more businesses to set up, they will take up these new office space.  Please do understand that not many MNCs would like to take up office space in some old and dilapidated office space (which is still within the office calculations today!)

Well, it’s always good to have another Central Business District (CBD) and I do wish Bandar Malaysia all the best. As for now, I do look forward to that meeting for HSR yeah. To me, that would greatly complement all these new MNCs because they could now have twin offices, one in KL and one in Singapore and truth is, they are just 1.5 hours apart! 🙂  Happy anticipating yeah.

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Bandar Puteri Warisan by IOI, a comfortable home in Sepang

I have no idea where Sepang is until the announcement that the Kuala Lumpur International Airport (KLIA) will be located in Sepang. That was also when I learnt from my uncle who stays in KL that Sepang is a little town very far away from Kuala Lumpur (KL). He said he could not understand why KLIA must be built so far away. Why not nearer to the city? As a secondary schoolboy then, it was not for me to argue or debate. Today, I think it’s clear that KLIA’s location is good as it allows for continuous expansion. The latest transformation plan happening would be the the
KLIA Aeropolis
, another huge integrated development of 404.7 ha (1,000 acres). This will be the growth story for many more years to come, benefiting
developments within Sepang.
  In fact if you ask me, as long as KLIA Aeropolis is successfully carried out, it will become an ASEAN logistics hub as well.

These days, the dynamism of Sepang is also growing. Speaking of residential developments in Sepang, let’s look at one which I think fits most of my personal requirements.
Bandar Puteri Warisan by IOI Properties.
 This is the developer which sparked my property investment journey. In 2005, I bought a condominium in Penang from
IOI Properties
 called Regency Heights. It was handed ahead of time with quality finishing. I ‘created’ my first baby there as well after trying for nearly 10 years. Must be due to good Fengshui. Today, after 11 years, I still enjoy my stay there whenever I am back in Penang for a holiday. I am based in KL since 3 years ago. Most of the time, a property is the single largest investment we would do in our lifetime. Buying objectively is the key, regardless of the question of ‘when is the best time to buy?’

 Where is
Bandar Puteri Warisan
 exactly? Take a look at the image and some of the nearby areas. I will not include the distance of Bandar Puteri Warisan to KLCC, Jalan Ampang because I think majority of the buyers into this area would be from the surrounding places as below. The buyers would be those working within these areas and would like to own a good property from a reputable developer at a price which is still affordable enough and with rooms for further appreciation. In fact the number of areas with all the usual conveniences that we want is increasing and not staying stagnant. Thus, the focus should be on potential appreciation. Do note too that if we are buying way too high today and we are struggling to pay for it, how sure are we that future buyers would be willing to pay another few hundred thousand Ringgit more for it? Some additional information on the connectivity as below.

To Xiamen University – 1.5km

To KLIA – 12km

To Bandar Baru Nilai – 12km

To Cyberjaya – 15km

To Putrajaya – 18km

To PLUS Exit – 17km

To MEX Exit – 18km

To LDP Exit – 21km

A direct journey  to KL from ERL Salak Tinggi via KLIA Transit

With the available land,
Bandar Puteri Warisan’s
 vision is to be the quieter residential part nearby the core district, a commercial hub located along the Federal Route 29 Putrajaya-Cyberjaya. It will also be planned so that there is a balance between retail, office, and residential living. Growth would thus be sustainable to meet the aspiration and needs of the communities.
The current launched phase is the
Evira
 which has seen good take up thus far, mostly from people who are working nearby. I think buyers would be those who require slightly more land space than the typical 20ft width which is the norm nowadays. Besides that, when we look at this part of Klang Valley, landed homes are still possible.

Some features about Evira.

FREEHOLD

Lot size from 22ft x 75ft

Security with controlled entry

Perimeter fencing

Contemporary design

Functional and practical layout

Large window and high ceiling

Spacious driveway

50ft wide internal road

The next upcoming new phase to be launched would be
Avista
. Lot sizes for Avista starts from 22ft x 75ft and built up from 2,277 sq ft. It has a 4 + 1 concept and will be within a secured community with guardhouse and perimeter fencing. It will have a contemporary design with a functional and practical layout. As we can see, it features large windows. It will also have a high ceiling height of 11 ft. Two cars could be parked side by side with a spacious drive way. There are lots of space within as it will have a 50ft wide internal road.

Beyond just these home features, this ‘further-away’ development must come with extra Oomph. In this case, the theme and concept of Bandar Puteri Warisan is a ‘POEM THEME.’ It is inspired by the Silk Road and all residents and visitors will enjoy six heritage corridors that consist of five thematic streetscape and one unique garden, namely Bliss of Mediterranean, Paradise of Persia, Street of Palms, Colour of Rangoli and Trail of Nusantara. Artist impressions as below.

In another few months, I will drop by to take the actual pictures once some of these streetscapes are ready. Based on what they did for my condo in Penang, I think they should do another good job. Will update everyone again. Oh yeah, this is where you can get more information.

Beyond just staying comfortably, I am someone who needs REAL shopping malls,especially on weekends. In other words, lots of different choices for me to spend at least half a day including lunch or dinner. I am glad to say that IOI City Mall is 24 minutes away or in distance it is 27km. One can relax with the family and there’s little need to circle around for car parks at the usual malls that we frequent in the city centre. Of course, with the never ending developments from IOI Properties, this mall will continue to grow in popularity. In conclusion, I think
Bandar Puteri Warisan
 is worth a serious consideration due to its features today and future potential capital appreciation. Happy visiting and reading.

written on 12 July 2016

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Press Release: 100% take-up rate for Bandar Rimbayu’s latest launch by IJM Land

The local property investment scene might have been severely hampered by the previous lockdowns and pandemic, but the need for quality residential homes meant for generational families will always be in demand. Seeing an overwhelming response through the full take-up rates for the township’s previous phases, Starling and Uptown @ Rimbayu, Bandar Rimbayu by IJM Land launched Robin.

Robin @ Rimbayu is part of the 1,879-acre award-winning township Bandar Rimbayu, and it consists of 615 double storey link homes that are available in 3 different types and sizes which are grouped into Type A (177 units), Type B (333 units) and Type C (105 units).

A total of 308 units from Robin’s Parcel 1 and 2 with GDV of RM241mil were fully taken up in the span of 28 minutes. The officiation was conducted through an online unit selection session, where interested homebuyers were given the chance to choose their preferred unit via the developer’s official portal, just like purchasing movie tickets online.

Inspired by the bird species, Robin — which symbolises a lively, optimistic and energetic life — the developments are designed to exude a simple, yet modern architecture, along with an open plan concept that are minimalist yet practical. These innovations are designed to fit the needs of contemporary lifestyles while keeping up with homeowners’ demand for more space. More than just a beautiful and comprehensive development, Robin @ Bandar Rimbayu also aims to cater to different target markets, through the various types and built-ups available.

A Great Township for A Fresh Start

Understanding that the current economy and homebuying scene may not be in its ideal state especially for young and first-time homebuyers, Robin @ Rimbayu has been keeping them in mind when developing the Types A and B residential homes.

The intermediate Type A units have a 18’ x 65’ land size and a 1,535 sq ft built-up. Following the lifestyle shift over the past year due to the pandemic, which is evidently more home-based than ever, the ground floors in Type A units have an open layout concept that offers homeowners flexibility and control over their utilisation of spaces. They can easily renovate or demarcate their living spaces according to their ever-changing needs in the future.

Starting from RM 648,800, Type A units come with ample room and space, including the 7 ft back yard, high home ceilings and the balcony in the master bedroom that contribute to the spacious atmosphere. Additionally, the presence of sliding doors allows better lighting and indoor ventilation, further improving livability and comfort at home.

On top of that, homebuyers also have the choice of considering the Type B units with a bigger built-up area of 1,665 sq ft offered at an attractive starting price of RM 680,800. While Type B also prioritises space and an open concept layout similar to Type A, homebuyers of Type B have the advantage of a bigger floor depth that creates an even larger space.

Both Type A and Type B units in Robin @ Rimbayu have 3 bedrooms and 3 bathrooms, and a large opulent gate matching the simple yet modern concept of Robin @ Rimbayu.

A Peaceful Retreat from Life’s Bustles

As the largest of the lot, Type C units are named garden homes. They come with an extra bedroom (4 bedroom, 3 bathroom), a 7 ft back yard, an 8 ft garden, and a ground floor room that opens up directly to the garden. These features make the development very sought after by homebuyers with extended families, who make full-use of green spaces incorporated within the compound of their homes.

Since Type A and Type B units are catered mostly for the younger homebuyers, Type C on the other hand offers a great layout design for growing families and families with elderly, making it an ideal selection as a generational home. Starting from RM 881,800, the intermediate Type C units have a 28’ x 65’ land size and a large 2009 sq ft built-up.

Further amplifying the aspects of green spaces in a balanced and fulfilling life, homebuyers can also utilise the extra space at the car porch area, with possibilities in converting it into a linear garden with trees, plants and shrubs.

Sharing similarities with Types A and B is the open concept layout that is implemented in the ground floor. The space for living, dining and kitchen areas face no obstructions of compartmental walls. Further to that, the additional family hall on the first floor also overlooks the garden below, hence providing an extra room for family members to congregate or simply enjoy the view from the large window.

A Comprehensive and Convenient Township

As an award-winning township, Bandar Rimbayu offers an array of lifestyle conveniences, including popular, drive-thru restaurants like Starbucks, McDonald’s and Kenny Rogers restaurant. The Quayside Mall, which opened at the end of 2020, also offers convenient establishments such as Jaya Grocer, Mr DIY and Harvey Norman.

With a constant emphasis on building a close-knit community, Robin also offers its residents with a well-planned 8.6-acre open space to accommodate much-needed recreational activities, including the basketball court, multipurpose court, parcourse, playground and kite flying sites.

To take its community hub concept a step further, Robin has also incorporated special facilities in an effort to help residents live a healthier yet more sustainable lifestyle. This is reflected through the outdoor facilities where community members can come together to revel in nature and even learn to cultivate their own food. For instance, residents can enjoy outdoor activities at the camping and picnic sites, within the safe and secure environment. At the same time, the community farm and tropical orchard are places where people can grow their own food and share among themselves.

From the guarded neighbourhood, the township communities can seamlessly access the 4 major entry and exit points of well-connected highways. They are Lebuhraya Shah Alam (KESAS), Lebuhraya Kemuning – Shah Alam, Expressway Lingkaran Tengah (ELITE), the South Klang Valley Expressway (SKVE) and the West Coast Expressway (WCE) which will be completed in 2024.

“More than lifestyle conveniences, Bandar Rimbayu prioritises a quality lifestyle and building communities for homebuyers. Therefore, they are in close proximity to The Club @ Rimbayu for its club-grade facilities and also Oasis International School that offers quality education for the neighbourhood children. In accommodating more work, play and shop from home lifestyles, residents are also assured of high-speed broadband infrastructure. All these plans and concepts contribute to the idea of Bandar Rimbayu as a one-stop and self-sustaining township for all of our residents,” said Mr. Chai Kian Soon, Senior General Manager of Bandar Rimbayu.

All in all, Robin homebuyers will be able to take advantage of the Home Ownership Programme (HOC) to purchase the new residential units. Through this programme, they can enjoy a minimum 10% discount on the purchasing price on top exemption of stamp duty for Memorandum of Transfer (MOT) and loan. Additionally, purchasers are entitled for free legal fees for both Sales and Purchase Agreement (SPA) and loan.

For more information, log on to
 www.rimbayu.com
.

-End of press release-

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Bandar Seri Coalfields latest development; Wesley Methodist School completion

Press Release by KLK Land: BANDAR SERI COALFIELDS OFFERING “ACE” EDUCATION IN JANUARY 2019 WITH THE COMPLETION OF THE WESLEY METHODIST SCHOOL

Selangor, 20 June 2018 – Following the launch of its hilltop homes, North Haven at Bandar Seri Coalfields last year, KLK Land has reached another milestone with the completion of the new campus of Wesley Methodist School (“WMS”). A completion of construction ceremony was held and jointly officiated by the CEO of Kuala Lumpur Kepong Berhad (“KLK”), Tan Sri Lee Oi Hian together with the Chairman of the Council of Education, The Methodist Church, Bishop Dr Ong Hwai Teik. Also present were Executive Director of KLK, Mr. Lee Jia Zhang, Managing Director of KLK Land Sdn Bhd (the property arm of KLK), Dato’ David Tan Thean Thye, and Chairman of the Board of Management, Wesley Methodist Schools, Dato Chin Lean Keat.

The event began with the usual formalities followed by a ribbon-cutting and plaque signing ceremony officially marking the completion of construction of Wesley Methodist School, Bandar Seri Coalfields. The convoy was then led to the main entrance of the school where a tree-planting ceremony was performed to commemorate the event. After the ceremony, the convoy also took time to embark on a brief walkabout around the school led by Senior General Manager, Operations of KLK Land Sdn Bhd (“KLK Land”), Mr. Prakash Prasannan.

The establishment of the school is in line with KLK Land’s commitment towards building vibrant communities through education. Tan Sri Lee Oi Hian, in his remarks during the ceremony, said that “Having a reputable education provider like Wesley Methodist School in Bandar Seri Coalfields will be an exciting time for our township and provide a catalyst for the surrounding communities to grow. The school’s entry is very timely and stamp our commitment to continuously transform communities and contribute to the nation building process.” KLK Land had inked a Memorandum of Understanding (“MoU”) with the Council of Methodist School back in September 2016, to develop a private school at Bandar Seri Coalfields.

Under the MoU, the phase 1 of the school comprises a block of Kindergarten and a block of Primary school. These two (2) blocks of education centres are equipped with 30 classrooms complete with labs, library and a courtyard garden and are expected to house a total of 1,000 students. Construction of the school was targeted for 2 years and handover of the school was targeted in the second half of 2018. Thereafter, the school operations were expected to start in January 2019.

In his congratulatory address, Bishop Dr. Ong mentioned that “Over the past 2 years, we have been working closely with KLK Land to deliver quality education and realising the dream of producing ACE students (strong Academic performance, holistic Character and well-rounded Extra-curricular achiever) in a pleasant township environment. All of us at Wesley Methodist Schools group are dedicated to provide education with Mission, Excellence and Compassion. We are well-prepared and excited to welcome the first batch of students enrolling in coming January.”

Wesley Methodist School is recognized in the private and international school environment. Having started in Sentul, Kuala Lumpur, there are now a total of 6 school campuses nationwide. WMS at Bandar Seri Coalfields is currently enrolling the new intake for academic year 2019. A series of parent forum leading to entrance assessments are being conducted. The medium of instruction in WMS is the English language, but Bahasa Malaysia and Chinese language are taught as study subject with equal emphasis. There is also a large pre-school building within the school complex. This pre-school is meant to be a safe environment for children in the BSC community while their parents are at work. The pre-school will be able to cater for toddlers from 3 years old onwards.

To-date, Bandar Seri Coalfields have completed over 1,600 homes. In its latest offering, Hemingway Residences comprises of 158 units of 24’x95’ Superlink homes and 94 units of 40’x100’ Semi-detached homes. The school, which also form part of this new freehold hilltop enclave, is a short 5 minutes’ walk to the residential precinct. The school will also get to use the nearby holistic facilities offered by the township, which includes the 50-acre Central Park that comes with a full-size football field, adventurous play deck as well as a new club house that holds a swimming pool, gym, badminton courts, basketball court and tennis courts.

— end of press release —

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Bangkok has more international visitors than London!

Tourism is a foreign currency earning industry for any country. Imagine just RM1,000 per foreign tourist x 1 million tourists pear year? Plus the typical economic multiplier of 3 or 4 to the economy? Plus the demand for properties? This is especially when a country receives millions of foreign tourists every year. I still remember when I first visited London in 1997. I felt that it was very ‘international’ because I could see a huge diversity of nationalities on the street. YES, I can sort of tell if they were British or non-British. Definitely possible to know if they are British or French or even Chinese or Japanese or Korean or even Thai. Anyway, statistically, London USED to be visited by the
MOST number of visitors in the world until 2015.
As for 2017, the below are the top 10 most visited cities of the world according to an
article in TheStar by Euromonitor International unveiled on Wednesday the Top 100 City Destinations Ranking 2017 Edition1 at World Travel Market (WTM) London.

1) Hong Kong: 26.6 million visitors

2) Bangkok: 21.2 million visitors

3) London: 19.2 million visitors

4) Singapore: 16.6 million visitors

5) Macau: 15.4 million visitors

6) Dubai: 14.9 million visitors

7) Paris: 14.4 million visitors

8) New York: 12.7 million visitors

9) Shenzhen: 12.6 million visitors

10) Kuala Lumpur: 12.3 million visitors

Yea, it is official. Kuala Lumpur is already a top 10 most visited city in the world. I know, some would like to point out that perhaps the composition of the visitors are different, that those visiting Kuala Lumpur are not from the highest end. Haha. Perhaps you are totally right and I think it is okay. One day when Kuala Lumpur becomes very expensive, the visitors either drop in numbers of the quality of visitors would increase? Anyway, I seriously do not think only the poor visitors would choose Malaysia because there are still cheaper countries all over the region today. My friend always say that Thailand has better value as a tourist destination. I think that’s the reason they are now second from the top of the world today. Look closely at the numbers and we can see that the cities are mostly this part of the world. Let’s hope this continue and I seriously think ASIA or even ASEAN as a region can do more together.

Yes, of course more tourists meant more AirBnB potential. More property investment potentials and definitely some may just choose to stay longer and thereby increasing demand for higher end properties since foreigners are not allowed to buy affordable ones. To the 25 percent non Malaysians who are reading kopiandproperty.com today, you are great people. Drop by and enjoy our hospitality yeah. By the way, we are also a shopping haven. Malaysia, Truly Asia….
Full article in TheStar here.

written on 9 Nov 2017

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One hour or more of travelling to work? It’s the norm.

I think I am a spoilt Malaysian employee. I realised this when I traveled to Bangkok recently. When I had lunch with my colleagues, I came to know that majority of them take over an hour to travel to arrive on time in office everyday. Most of them were not driving. They were taking public transport. I told them it’s possible for me to take a public transport like what my General Manager and many other colleagues were doing because the monorail station is nearby and the LRT station is also not too far away but I did not. I preferred to drive. Reason? I wanted flexibility in timing, even if on and off I would be caught in a bad jam. How come my Thailand colleagues can accept such travelling duration everyday? I think this is because they think this is the norm. Perhaps the jam there is far worse?

I told my wife long time ago that if I have to take one hour or more to work by using public transport, I would either resign or move closer to my office. I think this may be because I feel that there are still choices. I could choose to change my lifestyle or I could buy a place nearer to office. Perhaps there are still places which are within my affordability range even today. In Bangkok, it’s harder. The good areas are already way too expensive for their salary range and the not so good ones are really not so good and I think it’s always the best to stay with family which majority of my Thai colleagues are doing today.

What happens in the future? When MRT starts and your new home is at the very end of the MRT line and you needed to take one hour or more to reach your place of work?
Perhaps I should also be ready to do the same.
 Oh yeah, for those who think MRT in Singapore is convenient, if you happen to stay at the end of the MRT line and your working place is in the CBD area, 45 minutes is the NORM if not more. Don’t try during peak hours, you have to push your way in or miss it and have to wait for the next. My friends who migrated to Australia also needed to drive 45 minutes or more every day as they are staying in ever further away suburbs. The prices nearby CBD? Haha. Stop joking. So, ladies and gentlemen, I think taking one hour or slightly more to work via public transportation may be here soon. It will stay that way too. Driving may take you even longer. Change or be changed.

written on 1 July 2015

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Bangkok, after the bomb and property thoughts

My wife was worried. My mother was worried. Actually even I was worried for myself. I no longer worry only for myself. I have to also be fair to my wife, my daughter and my baby boy. However, I think I would like to believe my Thai colleagues, the Thai police and even the Malaysian authority which has not issued any travel ban to Bangkok. What has happened could have happened in many other cities in the world. A deputy sheriff in full uniform was gunned down in broad daylight in US just a week ago. There are many more scarier cases but I think what I would like to highlight is that we should not take higher risks than usual but life should go on. I flew to Bangkok for the second time for a business trip.

Bangkok’s property scene is also building, building and building. Many of the newer ones would be high-rise and many of these are situated nearby or next to malls and I think this is trend seen in Malaysia as well. However, a check with my colleagues revealed that majority of them are travelling to work via public transport and most of the time, they need an hour if not more to arrive to work everyday. Bangkok’s BTS skytrain is their main mode of transport. Some of them drive but according to them, the parking space is not cheap. It’s around RM220 per month after conversion. Perhaps this is because it’s the CBD area. Jams are usual and lasts until 9pm at night. However, if I compare Bangkok to Manila or Jakarta, I felt that Bangkok’s jam is slightly better.

Thailand’s property market does have its restrictions. Foreigners are allowed to buy condos BUT the total ownership of the development must not exceed 49%. In other words, if there are 100 units, the maximum number of units that a foreigner can buy would be up to 49 units. This meant that condominiums in certain tourist spots are now left empty as the locals are not interested while the foreigners can’t buy anymore as the limit has been reached. Read more here:
Doing business in Thailand
  Prices for these condos can be quite high and is definitely not considered affordable. This is the case even when compared to Kuala Lumpur today. Take a look at some of the prices I found in ddproperty.com

Interested to have a home in Bangkok? Well, I sincerely do believe that if the Thai government would like to encourage more foreigners to own a property in Bangkok, the rules may have to be relaxed further. After all, I think one reason for the prices being so high is also because not enough of these were built while the demand for them is high. If these condos were only bought by Thais themselves, then the prices stated above is considered ‘severely unaffordable.’ Happy visiting Bangkok. I think my next trip should be soon. I enjoyed my business trips there thus far. Nice hotel with great prices too.

written on 23 Oct 2015

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Bangsar South back to Kerinchi, property prices to drop?

This is the title of an article in EdgeProp.my:
Will property prices drop if Bangsar South changes back to Kerinchi?
 When I was still based in Penang, I used to fly to KL and go to Bangsar South on a monthly basis due to work. My former office was there. I think it’s a nice place, convenient and central enough. Jams were common then and these days it has gotten worse… try driving out of the office from 530pm to 630pm and you will understand. Then again, traffic jam is a good sign, no? I did not even know that it was called Kerinchi until I was there and saw the Kerinchi LRT station and sort of get the meaning that the name was ‘glamourised.’ for development. My ex-tenant bought a place there after she got married. One of the condos there for RM800k plus. She said it’s a good buy because it was a fully renovated unit. She even explained to me that ‘Bangsar South is the one next to Kerinchi LRT station.’ Well, for the both of us, the name has not made much of a difference. One did not know much, one already knew well in advance.

Now, let’s look at the scenario a few years down the road when Bangsar South is no longer the name. Will it affect the property prices? If we are an owner who bought it when it was Bangsar South, do we now tell our prospective buyer that this is Kerinchi? I think we will mention that the area is now called Kerinchi but the developments happened fastest when the name was changed to Bangsar South. In other words, we will still ‘defend’ the name of Bangsar South. Of course if we look at those who have been staying there for a very long time, way before Bangsar South, they would introduce their area as Kerinchi BUT as of today, if Kerinchi does not ring a bell to the outsiders, then they would still say Bangsar South. Whether we are a owner during Kerinchi’s time or even Bangsar South’s time, would we want to sell our property at a lower price than what we paid for? The question is clearly, NO. Prices will change only when transactions happen and prices will go down when transactions continue to happen at ever lower prices.

What about new developments then? I think it depends on what the buyers want to hear, right? If the buyer thinks ‘an area nearby Mid Valley Megamall’ is good enough, then whether Kerinchi or Bangsar South, the buyer would still be willing to pay. Honestly, names would help in the introduction but when it comes to really deciding to buy, it really depends on the area itself.
For example, the WHY reasons. An earlier article here.
Many times, we may view a development because the area or the name sounds good and that’s a very good marketing strategy but how many would buy a place simply because the project’s name sounds grand but the area is lousy?

Prices rise when demand exceeds supply. In brief, it happens when the number of units on offer (whether by developer or secondary market) is much lower than the demand by everyone who likes the particular area. This is how hotspots continue to increase in price. There’s just too many people wanting the area and every few months, a unit is transacted at 1-2 percent higher. It does not actually depend on the change of the name for an area. There’s a limit to how high prices could go but as long as income continue to rise, then the affordability continues to go up. An earlier article on why prices can keep going higher than income here:
Property prices rising higher than income, true. Why can we still buy?
Happy believing.

written on 10 Jun 2018

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Bangsar South? Reasons and choices

I was at Bangsar South’s Capri Hotel for breakfast the other day with a VIP. The cafe, Capricious was full of hotel guests and the VIP whom I was meeting told me that when he first started to stay in the hotel maybe about a year ago, this was not the case. There were not many guests. It meant that today, the hotel is doing extremely well. Perhaps that’s also because all the visitors to the offices in Bangsar South would choose to stay nearby? It’s pretty jammed during peak hours as everyone would note. Thus, a nearby and decent hotel would solve all time related problems.

I think Bangsar South is also very attractive as an office destination. I recently learnt that Bangsar South would be one of the few choices that the company I work with may be relocating to. I think it’s a pretty good location because it has fast access to most of everywhere and is just minutes away from Mid Valley Megamall. Public transport is also easy. Take a look at all of them in the image. I think for those working here, the options are straightforward. Stay nearby or take the public transport. Else, arrive really early. Say, before 715am?

For those intending to stay really nearby, the newer options may seem a little expensive but there are still some affordable options; smaller units or older ones. Take a look at some available ones. Fortunately there are still choices. Unfortunately, it’s either one instead of both. Nearly forgotten, perhaps getting a job which pays much higher may help too? Haha.

Anyway, I do think Bangsar South would grow in popularity. Just look at all the new office towers coming up. With connectivity, these should be occupied pretty soon, especially when compared to the older office buildings. Life’s not fair sometimes when companies could choose between newer and more modern versus older buildings. It’s not their fault, really. Look at the Gen-Yers of today. If they went for two interviews, one at a new office and another at an old building, both paying almost similar salaries, which would they choose? Happy deciding.

written on 6 Apr 2016

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