Knight Frank: Mature industrial areas to see more redevelopment activity

In many advanced countries, the term redevelopment is a common development plan. The reason is a simple one. While it’s possible to build ever further away but nothing beats the convenience of having the new development within the mature areas. This is where older developments which are no longer needed are redeveloped into something in demand currently. Old factories may make way for logistics hub for example. It seems that this is also happening in Malaysia too. Media release on Knight Frank Malaysia’s views as below:

Press Release:
Mature industrial areas to see more redevelopment activity

13 July 2020, Malaysia
– Knight Frank Malaysia launches the latest research report, Real Estate Highlights 1st Half of 2020 today which reviews the property market performance across Klang Valley, Penang, Johor Bahru and Kota Kinabalu.

Earlier in the year on 18 March 2020, to contain the escalating numbers of infected cases amid the COVID-19 outbreak, the country was placed under the Movement Control Order (MCO). As the country restarts its economy under the recovery MCO phase (10 June till 31 August 2020), more economic sectors and businesses are gradually resuming operations with stringent standard operating procedures (SOPs) in place.

In the industrial property segment, stakeholders are expected to practise more caution in formulating their plans as they navigate through this difficult operating environment.

Allan Sim, Executive Director of Capital Markets, Knight Frank Malaysia,
said, “For larger industrial park projects within the Greater Klang Valley, we foresee developers relooking at plans involving speculative builds of smaller industrial products. More developers are expected to respond fluidly to current market demand, i.e. by securing interests of manufacturers / operators to engage in larger build- to-suit products.”

“This strategy will bode well with current market sentiment and trend as we have been receiving more enquiries from industrialists who are keen to embark on such arrangements, largely spurred by attractive tax incentives for overseas manufacturers under the government’s recently announced short- term Economic Recovery Plan (PENJANA)”, added
Sim.

On a separate front, mature industrial parks in the likes of Shah Alam pose a rather distinct narrative.
Sim
commented, “Shah Alam is entering into an early transformation and redevelopment phase from a manufacturing centric location to a modern urban logistics hub. The scarcity of industrial land within the mature and well-connected locale coupled with increasing demand for higher specification logistics facilities have propelled many landowners to capitalise on the trend to redevelop their dated industrial premises.”

Sim
opined, “Despite rising land prices in Shah Alam, there are still factors incentivising logistics players to look into the locality. These include Shah Alam’s central location providing opportunities for more delivery runs per day, as well as the advent of construction going into multi-storey to balance the real estate costs”.

“Even as the economy is going through the aftermath of the pandemic, we are seeing more redevelopment planning activity of industrial plots within Shah Alam. Unlike many traditional businesses, the end-users of these redevelopments are mainly e-commerce and logistics players who are beneficiaries of increased online shopping traffics during the MCO period. Post-MCO, online trading will be central for more businesses. Notable upcoming redevelopment projects within Shah Alam include the former site of Advance Synergy by Mapletree and the 4.37-acre Xin Hwa site, both at Section 22; and the former FEC Cable site at Section 16. To date, the largest redevelopment site in the locale encompasses the 71-acre former Chemical Company of Malaysia Bhd (CCM) facility”, added
Sim
.

News Release

Mark Saw, Executive Director of Knight Frank Penang
, said, “Meanwhile, Penang continues to see positive demand for industrial land at mature areas such as Batu Kawan Industrial Park and Penang Science Park. In the short to medium term, we foresee further expansion southwards of mainland Penang and growing interest in the northern part of the state, in and around Seberang Perai Utara (SPU) with focus on light industrial developments.”

Outlook

In the face of the COVID-19 pandemic, the industrial real estate market remains resilient. The much lauded efforts by the government in providing generous tax incentives for foreign manufacturers under the recently unveiled PENJANA Plan, will help to position Malaysia as a strong contender to attract more relocations and shoring of overseas manufacturing operations to Malaysia. This is timely given the on-going major restructuring of global supply chains arising from the aftermath of the pandemic, as well as the on-going US-China trade war.

“Moving forward, the outlook for Malaysia’s industrial property market is looking favourable as we expect to see more active enquiries led by manufacturers looking to take advantage of the tax incentives as well as international e-commerce operators riding on the surge of demand for their services amid consumers’ shift towards digital channels and online shopping. We also foresee more international e- commerce operators considering Malaysia as an important regional distribution hub within their network”,
Sim
concluded.

— end of press release —

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Knight Frank: The Outlook for Malaysian Hotels 2023

As a well-known gastronomic hotspot in South East Asia, it was great to read that Malaysia has been finally validated on an international scale with the Michelin Guide covering two wonderful culinary hubs, Kuala Lumpur and Penang – 32 restaurants obtained the Bib Gourmand and 4 restaurants obtained a Michelin star. Malaysian cuisine is one of many traditional attractions for tourists together with its lively cultural scene, museums, majestic tropical rain forests, and some of the best islands and beaches in the region.

The country received 26.1 million international visitors in 2019 bringing in a total of RM86 billion in receipts. In 2019, Malaysia’s three (3) biggest markets were Singapore (10.2 million), Indonesia (3.6 million), and China (3.1 million), and strong growth in tourists was witnessed from India (22.5%), Indonesia (10.5%), South Korea (9.1%), and Japan (7.6%). Since the beginning of 2022, international passenger traffic volume to KLIA has been rebounding with average month-on-month growth of 27%, boosted by the complete removal of border restrictions, improving flight connectivity, and easing of regional travel restrictions. In September 2022, KLIA received 1.64 million international travelers, or about 53% of September 2019 of 3.51 million. Of course, when China does eventually lift its travel restrictions, this will provide an added boost. Halal tourism provides huge growth potential for the Malaysian hotel market with international Muslim travelers growing by 7.5% CAGR between 2013 – 2019.

Malaysia is the top-ranked destination in the Mastercard-Crescent Rating Global Muslim Travel Index 2022 and Kuala Lumpur, Penang, and Langkawi are particularly well-positioned to capture this market.

Hotel occupancy in Kuala Lumpur has been rising since the start of 2022, reaching 60% in August 2022. The city has been successful in pushing up the Average Daily Rate (ADR) which was only 6% down from August 2019, although less successful at improving its Revenue Per Available Room (RevPar) which was down 28%.

Table: New Hotels Scheduled to Open in Kuala Lumpur

We expect the recovery in the Malaysian hotel market to continue in 2023. The demand outlook is strong. On the supply side, Kuala Lumpur’s existing hotel stock of 47,500 is forecast to grow by 9% over the next 3 years and about 60% of this new supply will be in the luxury and upper upscale segments which are currently underrepresented. We feel these new luxury offerings will make Kuala Lumpur a more attractive holiday destination, boosting occupancy and growth in hotel revenues.

We are forecasting that Kuala Lumpur hotel occupancy will reach about 75% by late 2023, with RevPar recovering in 2024.

— end of media release —

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Knight Frank: PENJANA incentives to stir property market

Press Release:
PENJANA incentives to stir property market

9 June 2020, Malaysia
 – The Prime Minister, Tan Sri Muhyiddin Yassin has recently unveiled the RM35 billion Short-Term Economic Recovery Plan (PENJANA) to address the economic challenges of COVID-19. Consisting of 40 initiatives, the latest plan which is Stage 4 of the 6 stages in the Government’s 6R Strategy, aims to to empower the people, propel businesses and stimulate the economy.

Knight Frank Malaysia applauds the government’s slew of initiatives to secure the nation’s wellbeing by promoting economic growth while reducing fiscal deficit during this unprecedented time.

Residential

Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia (header image),
 says, “The reintroduction of Home Ownership Campaign (HOC) effective 1
st
 June 2020 until 31
st
May 2021, where stamp duty exemption will be provided on the instruments of transfer and loan agreement for the purchase of residential units priced between RM300,000 and RM2.5 million and limited to the first RM1 million of the home purchase price, is expected to kick-start the primary housing market moving into second half of 2020 and beyond. With developers generally focusing on clearing existing stock and holding back new property launches at this moment, the return of the HOC will likely act as an immediate catalyst to address the current property overhang and help in easing cash-flow worries for the developers.

“Meanwhile, the exemption of Real Property Gains Tax (RPGT) for disposal of residential units between 1
st
 June 2020 and 31
st
 December 2021 and limited to three units per individual, will provide further traction to the secondary housing market. While concerns on property speculation may rise but with the short window period of exemption, it helps to provide added financial relief to individuals who needs to liquidate their assets during this trying time.

“We are also positive on the comeback of certain category of qualified investors to the property market with the uplifting of margin of financing limit for the third housing loan onwards for property valued at RM600,000 and above during the revived period of the HOC campaign. As the Malaysian property market was already in a prolonged slowdown due to economic challenges and political uncertainty, these initiatives will help to restore confidence of property investors and ultimately contribute to the growth of economy.”

Manufacturing

PENJANA also provides generous tax incentives to attract foreign companies to relocate to Malaysia.
Allan Sim (
???
)
, Executive Director of Capital Markets, Knight Frank Malaysia
 believes the incentives are timely in capturing Foreign Direct Investments (FDIs) from the US-China Supply Chain Reconfigurations. Earlier incentives such as the likes of Pioneer Status and Principal Hubs are varied across different sectors and generally dependent on fulfilment of certain conditions, i.e. creation of high value jobs, number of qualifying services housed within Malaysia, etc.

Sim
 comments, “From the current standpoint, qualifying criteria under PENJANA are simplified to the value of capital investments, with a more generous tax holiday period of up to 15 years for corporates with capital investments of more than RM500 million. This coupled with the fast track approval mechanism for manufacturing licences and tax incentives with the establishment of Project Acceleration and Coordination (PACU) under the Malaysian Investment Development Authority (MIDA) will help to raise the country’s attractiveness in the eyes of foreign investors.”

With these timely incentives, Malaysia is poised to be a beneficiary of the on-going major restructuring of global supply chains arising from the aftermath of the pandemic, as well as the US-China trade war.

Sim
added, “Post COVID-19, we expect to see more major companies looking for ways to diversify and decentralize their supply chains across countries and regions to mitigate geographical risks on production lines / material sourcing. The decoupling of US-China supply chains is also evident as trade tensions continue to intensify. As companies explore relocation of some of their operations in efforts to navigate through the on-going trade conflict, these new incentives under PENJANA will help position Malaysia as a strong contender in seizing these relocation opportunities as well as next shoring for their manufacturing businesses.”

Sim
is also positive on the outlook of the industrial property market moving forward; the tremendous efforts by the government in promoting the FDIs will help sustain employment and the country’s economy at large.

“The promotion of FDIs are also lauded by players in the market as it will generate a multiplier effect in boosting Malaysia’s Gross Domestic Product (GDP) and help to create more employment opportunities. As it stands, the manufacturing sector is the second largest contributor to the nation’s GDP and its growth will help bolster the economy amid this unprecedented crisis.

“In conjunction with the above, we are also likely to witness a positive spill-over effect in the industrial property market predominantly in larger purpose-built factories / large tracts of industrial lands, with the potential entry / relocation of new global industrial players. The logistics and real estate sectors will benefit by way of demand from set-ups of new manufacturing operations”,
Sim
 concluded.

Hospitalism / Tourism

The hospitality and tourism sector came to a standstill amid the global pandemic and the enforcement of Movement Control Order (MCO) since 18 March. With travel restriction, event cancellations and individuals’ reticence to travel, many hotels and operators are forced to close down or downsize operations, resulting in tens of thousands of job losses.

Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia
, says, “The allocation of RM1 billion PENJANA Tourism Financing (PTF) facility serves as a ray of hope to the tourism sector, to support the transformation initiatives for small-and-medium sized enterprises (SMEs) in the tourism sector to remain viable and competitive in the new normal.

“Boosting domestic tourism is crucially important as well during this challenging time as the tourism sector was the biggest contributor to some of the states’ GDP. The personal income tax relief of RM1,000 for domestic tourism expenses until 31
st
 December 2021 will help to encourage more domestic travel and revive the country’s tourism sector in the short to medium term.

“In addition, the existing service tax exemption for hotels will be extended to 30
th
 June 2021, and a new exemption for tourism tax from 1
st
 July 2020 to 30
th
 June 2021 has been introduced. This will most likely to encourage more tourism activities in the country for the next twelve months, as the exemption of both tourism tax and service tax will certainly reduce the cost of hotel stays for both local and foreign travellers.”

— end of press release —

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Know transaction prices before negotiating? Possible.

Someone shared with me that in future, one trend that will surely happen is that no one would have information monopoly. In other words, information transparency would be the norm and everyone would have more information to base their decisions on. This would bring with it another issue. Decisions would have to be faster or else we will lose out. Just 10 years ago, not many people would know the prices for a certain area or even development. That was when everyone would just buy areas they are familiar and have more information about. Fast forward to today, we can use property sites to search based on price range. From this search, we get to know about all the areas which fall into this price range. We can then evaluate each area and development separately. Moving one step further, we can even search the rental for that particular area and development before we invest to rent.

Well, the prices stated in these property portals may still be slightly different from the actual transacted prices. So, how do we get more information on transacted prices? Where can we get more real time information so that we can negotiate better whether we are the seller or the buyer? Is it free or do we have to pay for it? With just a few clicks? Well, it’s free for basic information or pay for more details.  Here’s one place.
brickz.my
 Usually, these sites would have information for the Klang Valley. I wonder if it would have enough information beyond just the Klang Valley. So, I searched a condo project I am familiar with in Penang and it showed me the information I needed. Take a look at the image. We get to see the usual price per sq ft. We get to see the median price which is
MORE important than average prices
 which would normally mean nothing because the highest and the lowest prices may be very wide. We also get to see the transactions that has happened and the sq ft of those units. Neat information, right?

What about even further away? Say in
Sandakan Sabah
? Well, it has the information that I needed for one particular condo project. Take look at the image as well. Number of transactions are as updated as November 2016. This is very recent information. Useful information indeed. Note that the actual unit information is hidden? So you would not know if this is swimming pool facing or if the unit is facing east-west which may mean a hotter unit or even if the unit is a low-floor unit which is usually cheaper than a high-floor unit. Well if you must know, then you can purchase a report for this particular development for RM30 or pay RM450 to subscribe to all the information you need for a period of one year. Here’s the
pricing structure and information.
Will you be able to negotiate better because you have more information? I believe so even though if the unit is a choice one, I still think the seller can command a premium compared to the rest.
Need to sell your unit faster? Some tips here.

Sorry, no special price even if you mentioned kopiandproperty.com’s name. Haha. I happened to speak the same event as its founder last year. Was recently reintroduced to it again in a networking event by iProperty and I think I should share since more information is always better for everyone. Happy ‘property price’ hunting yeah.

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written on 25 March 2017

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Knowledge, work harder and a good agency is critical during a slowdown

A younger friend who’s a property agent told me that he could no longer continue as an agent. Market is too slow and he is earning way too little. Thus, he wants to look for a full-time employment (9-5) instead. I do not think this younger friend can survive in a full-time employment with a fixed income. I encouraged him to work harder instead. As at now, he is still a real estate agent in Penang and has yet to switch into a 9-5 job yet.

Just days ago, in a WhatsApp conversation, another friend who’s also a real estate agent told me that times are so slow that some of the agents in her agency are selling REITs. They are all trying to survive as deals are hard to come by. Buyers are just too cautious and most are adopting a wait-and-see attitude even if they need to buy a place to call their own. This friend of mine agrees though that regardless of profession / business, as long as we do well, then money would not be an issue.

Truth is, when we find ourselves in a tougher situation, have we ever thought perhaps it is due to us? Market is slow today, it has not stopped. Have we ever though of better equipping ourselves with knowledge? Instead of knowing nothing about the area that we are selling, why not understand the typical price per sq ft. When we know what’s the average price, we know what is considered undervalued and we can then provide better advice to the potential buyer instead of only opening the door to the house.

Did we increase our work-rate? Did we do MORE? Truth is, closure of any deal also depends on probabilities. If we do exactly the same number of viewings as last time, we must be dreaming. Times are slow now. DO MORE.

Did the agency you are attached to provide sufficient trainings? If it does not, why are you still staying there? Join one where training is given so that when you are successful, the agency is also successful.

Last month, I read many pages in Property Insight magazine about an agency where all it’s team leaders were earning a lot of money. Another close friend who is also a real estate agent told me that this particular agency is led by an extremely capable lady. She trains her people well. Bingo. If we are not knowledgeable enough, the time is now. Start reading more. We should strive to get more potential buyers to view. If you are not doing well today and your current agency tells you to work harder but does not provide any trainings, it’s time to think about your future. I have way too many friends who are successful as real estate agents. Many of them know a lot about the areas they serve, they are always very busy and most of the time, they are attached to good agencies. When the goings get tough, the tough gets going. If the tough does nothing, soon he/she will be nothing. Happy viewing!

written on 3 Dec 2015

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Knowledgeable investor always have options

I read a LinkedIn article entitled ‘Good Employees Always Have Options.’ I agree with the statement and I think all of us must make ourselves a good employee. I wrote something about it previously.
How many of us are blue-chip level anyway

However, when we look at some of the news about retrenchments, we would understand that sometimes even being a good employee is not enough because no one knows what may happen to the industry that we are in. Fortunate thing is that if we got retrenched, if we are considered a good employee, we would have options to fall back on. In other words, it should be pretty easy to get another similar paying job or better.

Of course, a better option is to become a good employee and a knowledgeable investor. It does not even need to be investing in property because from the studies, in terms of average, the property prices is only growing along the lines of inflation rate. The good thing is that property asset capital
appreciation is based on it’s selling price
. This is unlike our savings which will only be increasing based on the actual amount we have. This is likely to be much smaller compared to the property that we bought. Besides, during a slow down, that’s the best time for property investors with deep pockets. In fact, when the stock market is volatile, it provides some opportunities to enter the market at a lower price and hold for a longer term.

A good investor would have diversified his portfolio. A knowledgeable investor would always have options. This allows him to continuously readjust because some sectors would do well even when some sectors are doing badly. For example:
Defensive stocks? How about cosmetic related ones?

Of course if financial crisis did start externally and spread to ASIA, then the chances for most sectors to be down would be high. Perhaps except food? Starbucks remain a major contributor to Berjaya Food in terms of earnings. Happy investing.

written on 16 June 2016

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Ko Pi Tim, Ipoh

This restaurant is really called Ko Pi Tim. Haha. The restaurant is nearby my house. Thus, if I am in Ipoh having breakfast with my family, most probably this will be the shop I go to. There are a few highlights here. The Wan Tan Mee is quite good. The pork noodle too. Not forgetting the dry curry mee. The dry curry mee is not within my top 5 list but nevertheless meets my minimum standard of a good plate of dry curry mee. In ipoh, the standard of dry curry mee is pretty high. Remember, stop eating just nga choy kai. It’s good but dry curry mee… is definitely above anywhere else in Malaysia.

The white coffee is just above average. Take a look. I like the cup it comes with. I find the iced one better than the hot one. However, if you ask me, should you be here for the coffee and then the food is complementary, my answer is no. You should come for the food and the coffee can help you to finish your breakfast on a good note. Oh yeah, another plus point, you do not need to wait at the tables for a long time and there’s ample parking. Plus, if you come out from the Ipoh Selatan toll, this restaurant is less than 10 minutes away. See you there on a Saturday morning. 🙂

written on 20th dec 2013

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Not an easy time indeed. My wedding restaurant closed…

Restoran Kok Thai, Ipoh.  This was the restaurant I insisted on having my wedding lunch at. Good food, good people, good prices too.  This was also my brother’s wedding restaurant too. Anyway, every 10 weddings I go to in Ipoh, one of it would definitely be here. It’s now put up for rental with the following description. Refer to the image.  Rental is said to start from RM16,500 and it’s just 100 metres away from KINTA City shopping mall in Ipoh Garden.

Briefly, it also meant that the restaurant’s journey has already ended. Then again, when we think about it, what are the chances that people will be going there for meals now with all the social distancing.  Secondly, wedding lunches and dinners have to be postponed to probably end of the year. It would have been too late by then.  I think the location is superb.  Let’s see if the next shop to open will also be a restaurant but I guess that would be many months later or even probably next year. No one’s rushing at the moment definitely.

There has been many news about hotels closing too. However, hotels operate on a different manner.  Once the good times are back, the new hotel owner would restart the operations after a minor or major renovation and rebranding. It could usually be turned around quite fast especially if the location is a central one. Have to wait for better times to return first. For now, I think many hotel management would have no choice because maintenance expenses are high.

For restaurants, all its chefs and workers would have had to find jobs elsewhere and the new restaurant would be a totally new team. As with food, it’s a matter of taste preference. So, everything is less certain. Yes, if it reopens, I would definitely bring my family there for meals. As for these traditional restaurants, perhaps it’s also time to embrace technology too.
 Remember even the fishermen have to embrace technology?  Here’s one.
  I miss my Ipoh.

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Press Release:
Kokuyo Introduces
Signature Office Furniture
To Support Global Trend of Activity Based Work style (ABW)

August 21, Kuala Lumpur
–
A company that began in 1905 with its humble beginnings producing general ledgers, Kokuyo has risen to become a successful listed company and a leading household name in Japan when it comes to designer office furniture and cutting edge stationery in Japan.

As tribute to its heritage which means ‘honor of the land’ – Kokuyo designs with the users in mind – using furniture as an art of design to provide employees with the requirements to think, ideate and perform better.

Fast forward today, over 110 years from its beginnings, Kokuyo embraces the blurred lines between work and well-being. With fluidity and flexibility as a theme for its customizable furniture, users can create and recreate spaces with ease.

According to the Worksight Lab, a research institution within the Kokuyo group, one of the key trends in workspaces is the activity-based work-style (ABW).

“ABW gives employees the freedom of choice of where, when and how people work. It empowers employees to work at their own pace, delivering results in an environment they thrive in.

“Whether one needs a solo working space to ideate, or to have discussion with colleagues in a pop up meeting space, or even to have a casual conversation in a community setting, Kokuyo has gleaned insights from trends globally and created signature office furniture to support this,” said Mr Yuki Kanamori, Workstyle Researcher at Kokuyo Worksight.

Solo working space

(INTERVAL)
is a seat table ensemble to support employees who choose to have an enclosed, semi-private relaxing space to focus on their work

Pop up meeting space
(IN FRAME)
consist of meeting booths designed for employees who require private discussion in a comfortable, semi-closure environment – yet not completely cut off from the whirls of the social setting.

Citing examples of successful workspaces from Europe, Kanamori shared that activity based working (ABW), was ultimately about promoting the well being of the employee, but also encouraging community.

“From what we have observed at various successful work spaces, a large number of corporations are now sitting alongside tech startups, freelancers and digital nomads in collaborative environments – as this is the fastest way of up scaling or creating innovation.

“And the role of the workspace is so important as openness, community and a sense of purpose is driven within each, as they help each other alongside,” he further added.

Collaborative Community

(DAYS OFFICE)
–
Casual looking furniture made from wood and metal, ranging from casual stacking chairs, high stools, sofas for the lounge areas – promoting community within the office

“Attracting quality talents means that companies are required to change – to no longer tether their people to a desk, but allow fluid movements.

“Whether it be hot desking, collaborative spaces, or individual spaces – there is a need for the workplace to have suitable flexible furniture to also support ABW as well as the well being of an employee,” he further added.

One of Kokuyo’s pioneering and successful furniture design to promote the wellbeing of employees include ING- the 360°gliding chair.

Wellbeing

(ING-
360
°
 Gliding chair)
– the
 human body is build to move. ING supports the body as it allows one to move freely, with a gliding mechanism, allowing users to move their body freely while sitting. This improves body circulation and work performance.

“At Kokuyo, we’re all about enriching the world with our creations.

“While we are geared to pursue new ways of working, we offer insight into making the work environment better, at the end of the day, taking into mind that people are at the centre of our business,” said Mr. Katsuyuki Konishi, Managing Director of Kokuyo International Malaysia.

The Kokuyo Asia Pacific Showroom in Malaysia is open to members of the public from 9am-6pm (Monday to Friday). You are welcomed to visit at the following address: No. 2, E-31-08, Menara Suezcap 2, KL Gateway, Jalan Kerinchi, Gerbang Kerinchi Lestari, 59200 Kuala Lumpur. Feel free to call us at: 03-2720 2820 to find out more.

For further information on Kokuyo Furniture, please visit:
https://www.kokuyo-furniture.com/

For further information on Worksight, the research lab within Kokuyo, please visit:
https://www.kokuyo-furniture.com/worksight-lab

— end of press release —

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kopiandproperty.com  – Female vs Male lopsided, do you know why?

Buying a new home. Is it a joint decision? Who decides what? Let’s look at the demographics for  readers of kopiandproperty.com demographics. (Image beside). In brief, overwhelmingly MALE. 72 percent male versus 28 percent female. This is on assumption that google analytics is as accurate as it should be. I have always thought that buying a new home is a joint decision, right? Then again, perhaps the men are the initiators while the women are usually a contributor in terms of what constitutes a good home. I remember I was the one who researched the areas to buy and my wife would usually be the one who will say things like, ‘I do not like the design,’ or ‘How big is this condo,’ or even ‘
How many car parks and does it come with a covered walkway.’

Is this true for you guys as well? Since nearly 80 percent of those reading this article now would be a man. Haha. As for ladies reading this now, can leave a comment? With regards to comments, I realised now that most of the comments were from man. This may also be due to the fact that ladies are usually the ‘background’ support. Behind every successful men, there’s an important women, right? Since we are at this topic, I have done a bit of reading and here’s some findings from my most knowledgeable friend, google.

International Real Estate Group – Buying a house, the differences between men and women.
Men looks at KITCHEN as important. (Agree) Women wants more closet space while men prefers a space for themselves ONLY (Not me). Women prefers something more perfect; a new home while men are okay to fix some stuffs themselves. (Agree) Women prefer baths while men prefers showers. (Not me)   Women prefers more flowers. Men prefers an orchard which they can grow stuffs. (Agree! I have ginger, cactuses and even a pineapple! within my balcony)  So, the list does not really reflect a man like me here in Malaysia.

Bloomberg: Single women are buying a home twice the rate versus a single men.
The study says that single women wants their own space, single women are more likely to be raising kids by themselves than men, buying a home is seen by women as living one’s life fully rather than to only buy one when one finds a partner and location is a priority. (Perhaps due to safety concerns). The article concluded with this powerful statement from a lady at 40. “There was a psychological aspect to it, too. I’m in my 40s, and I looked at what my life was like. I’m not married, I don’t have kids. I can live alone, and fabulously. I feel empowered.” This study may reveal to me that the women visitors to kopiandproperty.com may be single?! Haha.

Forsalebyowner.com – Women’s opinions count most when time to buy (a home)
 My wife would agree to this title. The current condo that we stay in was decided by my wife actually. I was okay with a landed property slightly further away but just 2 minutes from a potential primary school for my daughter. Haha. (longer term horizon for me mah).  According to the article, emotions lead to better purchasing decision and a women has more of it. Women likes to see how ‘master-room’ feels. (My wife too!).  It says that men like facts, thus a brochure with lots of things listed is fine but women prefers seeing, touching and talking about the structure she will inhabit. Videos, testimonials from recent buyers, livability surveys and newsletters detailing community activities appeal more to female buyers. (Quite true for me.)

That last article has just pointed out the reason why kopiandproperty.com is MOSTLY men readers. Most of my articles are really just writings without too many images, videos and I have not started a newsletter. Okay, let me try to include more images, more surveys and perhaps start a newsletter in the near future. Need to find the time to do so because even writing is pushing me towards the edge of discipline. Sometimes, I am just too tired to write even during weekends. Just want to have fun, have a latte and read another book instead. Life should not be just writing a blog, yeah? Thank you to the 78 percent men who continue reading and I am really appreciative of the awesome support from the 28 percent female readers. Happy buying your next home!

[polldaddy poll=9817419] Do complete the survey yeah.

written on 27 Aug 2017

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Kopi Story #001 – Ipoh White Coffee and online Gourmet Coffee Beans

#whitecoffee #coffeebeans #goodlatte #coffeedaily #ipohuncommonwhitecoffeeshop

Coffee and its advantages

I know many of us love coffee. On a typical day, I have three cups. Some like it black (with or without sugar), some like it with milk without sugar and some like a strong cup with fresh milk. Great thing to know for us coffee drinkers would be all these advantages of drinking coffee: (if we drink it ‘Americano’ stye yeah.)

#1 – We are 23% to 67%
LESS likely to get type 2 Diabetes.  (click here for full article)

#2- Our risks for Alzheimer’s and Parkinson’s are lowered
(click here for details)

#3 – Coffee is great for our liver!
 (click here for details)

#4 – Coffee has LOTS of antioxidants too.
(click here for details)

There are more but I think these 4 already makes a great reason why coffee is better than soft drinks or even fruit juice (with lots of added sugar)…

My personal barista and coffee bean buying journey

One day a good friend told me that he has bought a coffee machine and he could whip me some awesome lattes. He made me one cup and I think it’s a great idea for me to start buying beans and get a free latte every now and then.  I went online as usual, started buying coffee beans. Recently, i started buying from this vendor called Arabica Estate. The coffee beans were really fresh and very good. Of course, it also depends on what kind of beans we buy yeah.

Let me recommend to you this one awesome one. It’s called Geisha Anderacha G1 and it comes from Ethiopia (top 10 coffee producing country of the world). Geisha is said to be a superior Arabica variety and it has that complex and dense in taste. Perfect for me.

This is a single origin, so it was not blended. Single origin means the beans come from the same farm and of the same variety. Sometimes, coffee beans are blended so that the overall taste is enhanced and it could achieve a more complex taste.

This Geisha Anderacha has no such need. It gives you that balanced feel and not the usual sourish or bitter which we have from similar and yet not so similar arabica beans. Like this kind of beans?

This is the vendor if you
like to also be buying that same one yeah (Arabica Estate).

White Coffee in Ipoh

If we google white coffee Ipoh, we will get so many results we may feel a little analysis paralysis. Plus, the results are usually almost those same few because people would click the first few and then they will go there, taste it and then they will post the similar first few as everyone else. Haha. So, google kept returning those same results. Anyway, I was buying some swiss rolls which are very soft, delicious and fresh nearby and I had a cup of white coffee here.

The ‘pembancuh kopi’ was an old man and his coffee is nicely blended. Not so coffee strong like Nam Heong or too milky like many other shops but his version is right in the middle; well combined coffee and milk and I think it’s worth dropping by for your fix of white coffee too. To provide I really did drop by, here’s that MySejahtera app login.

Haha. Sorry, forgotten to take that cup. Next time if I go again, will edit this post to add in. Happy dropping by
Number One Mei Sik Wan
. It’s a corner shop kopi tiam. A large cup is just RM2.40  Usual cup is around 200ml++, large cup I think is 300ml++. Value for money lah but the shop has no air-con yeah.

A few more coffee stories including one about white coffee with aroma of kaya toast but let’s do it one by one yeah. Happy coffeeing…

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the KopiTalk #3 – Why refinance? Good, Bad and Ugly

You may be thinking if REFINANCE is a good option. You have a home which you have already paid for many years and now you saw a window of opportunity to invest. However, you need more cash. There are definitely many options to raise that cash. You may want to reduce your monthly mortgage.  You may even want to finish paying earlier! Today, we talk about one of those options; refinancing.

To help us in our understanding of this topic, my guest of honour is Miichael Yeoh who has over 20 years of experience in the financial world. From working for many different banks till setting up his own firm and today having the flexibility of working from home, he continues to build on his experience. At the same time, he is invited to provide his views in many real estate events and I have had the honour of speaking on the same stage with him a few times.

Details for the KopiTalk #3 is as follows:  Why Refinance? Good, Bad and Ugly.

Date: 17th June 2020 @ 9pm
 Send us your questions in advance as well, Miichael will answer them! (click here to submit)

See you yeah.  Cheers.

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The KopiTalk #17:  “How to be ACTIVE PASSIVE investor at the same time?”

The topic that we will be talking about is, “How to be Active Passive investor at the same time?” For our upcoming KopiTalk #17 we are honoured to have Mr. Stev Yong who’s the Founder and CEO of MyPF as well as Wealth Vantage Advisory’s Chief Knowledge Officer.

He represents the millennials and he has all the personal finance knowledge which I believe is essential for all of us and not just the millennials. The topic that we will be talking about is, “How to be Active Passive investor at the same time?”  What I think we will gain from him is that he could explain personal finance in an easy to understand manner. So, do drop by and ask him more questions yeah. It’s on 30th September at 9pm. SHARP.

Just sign up here.
Ask him ONE (1) question and be in the
running to win this very comprehensive property investment book by
Dr. Peter Yee, “Property Investment Wisdom.” (review here)

Let’s talk about the fundamentals of investing our hard earned money. Essentially, we need to be both ACTIVE PASSIVE investor. Let’s look at what’s ACTIVE investing and what’s PASSIVE investing. By the way, both are important and both should be present in our investment journey. The reason is because we may not be well versed in everything and yet diversification is so important in the investment world. If you like to know him a little more before the KopiTalk,
just click to MyPF FB page here.

Stephen Yong Chuan Seong (MyPF Founder & CEO; Chief Knowledge Officer of Wealth Vantage Advisory Sdn. Bhd., Licensed Financial Planner)

Let’s get to know him better.  His profile as follows:

Stephen (friends call him Stev) is the Founder & CEO of MyPF.my, and a Licensed Financial Planner. He started MyPF.my 7 years ago as an online financial education portal that leverages on fintech to connect clients to financial planners and solutions. Today, MyPF.my is an award-winning personal finance site and ranks among the top 3 personal finance sites in Malaysia whilst continuing to scale upwards in Alexa rankings.

Stev is also the Chief Knowledge Officer of Wealth Vantage Advisory Sdn. Bhd. (WVA). His roles and responsibilities include helping financial advisors and staff benefit from knowledge resources, building firm knowledge creation and culture, and actively promoting knowledge agenda within and beyond the firm. On top of that, he also manages WVA’s business development and branding strategies.

Stev believes in simplicity, growth and value for his passions: people, personal finance, and business processes. He practices what he shares, recommends what he uses, and is a long-term investor for close to two decades now.

Stev’s (and MyPF’s) mission is to help people simplify personal finances – to help people grow and achieve financial independence. All this so people can have the freedom of choice – to focus on who and what truly matters in their lives.

Stev has a Bachelors in Computer Science, MBA, and Certificate in Financial Planning
(Cert TM)
. He brings with him real-world business experience from his previous roles as a senior division manager, business development manager, and trainer-facilitator in the tech industry.

Besides working, Stev enjoys spending time with his better half and son, reading, writing, travelling, and drinking (two cups of coffee) daily.

Connect with Stephen or ask him out for a cup of coffee at
stev.yong@mypf.my
 or
LinkedIn
.

See you yeah.  Do not miss this interesting topic on KopiTalk #17: “How to be ACTIVE PASSIVE investor at the same time?”   Just sign up here.
Ask him ONE (1) question and be in the
running to win this very comprehensive property investment book by
Dr. Peter Yee, “Property Investment Wisdom.” (review here)

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KopiTalk Exclusive: Get your home loan approved and also pay off your loan faster

In this upcoming KopiTalk which is sponsored by KSL Bandar Bestari, I have many very important questions for my
invited panelist, Miichael Yeoh.
 These questions are important for first time home buyers and even property investors. Some examples include, “How do we make sure our home loan has the highest chance of approval?” “What is the most damaging factor affecting my home loan application?”

Besides that, we also look at another important issue for home owners; “How do I finish paying my home loan earlier?” In fact, we will go deeper too and even ask the question of, “If I do have a lump sum of money, do I pay off my loan or do I buy another property?” Very tough decision, right? Let Miichael share with us based on his experience in the real estate industry. These and many more questions.  See you this Sunday 13th June 2021 at 11am yeah. We will start on time.

The FB Live page is here. KSL Bandar Bestari.
It will also be LIVE at
kopiandproperty.com’s FB Page too.
The poster is as follows:

KSL Bandar Bestari
 is also running a Fantastic 5 Campaign currently. If you are looking for a commercial property, do not miss this.  Do call them to understand more.

? ????????? why you should expand your business to Commercial City at KSL Bandar Bestari

 Booking fee only RM2,500*

 Located within mature township

Easy access to major highways

 Spacious parking space

 Next to Shopping Mall, lifestyle hub & French Inspired Park

 24/7 security patrol

WhatsApp us NOW:Hotline
https://bit.ly/3g3Pl4y

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.

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the KopiTalk #1: Let’s talk about Economic Recovery Plan (ERP)

Update. The FB Live Session is as below. Just scroll to 3rd minute to start watching and learning from Sr. Michael Geh, FIABCI President (Malaysian Chapter) Happy watching!

Prime Minister Tan Sri
Muhyiddin
 Yassin will be unveiling the Economic Recovery Plan (ERP) / Pelan Pemulihan Ekonomi on 5th June 2020 at 3pm.  We have yet to know what’s the content. Of course, there are rumours but let’s wait for the formal announcement. Right after this announcement, I have managed to invite Sr. Michael Geh, the FIABCI President (Malaysian Chapter) to share with us on everything we should know about our Economic Recovery Plan.

How will it affect the property market?  Will this help the economy to recover earlier? Will this help sentiment to become positive? Many more questions. I mean, many more hard questions. Join me as I ask lots of questions to Sr. Michael Geh, FIABCI President on 6th June (Saturday) at 9pm.  Poster for the event is below:

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It’s morning in Kota Bharu. Let’s lunch in Putrajaya. Possible?

At the moment, it’s not possible to have breakfast at 7am in Kota Bharu with your best friend and then give him a surprise lunch in Putrajaya. Take a look at the image from google map below. The fastest travelling time is 6 hours and 36 minutes and if you prefer to take it slow and easy, it can even be a 7 hours and 42 minutes journey. However, in the future, this is quite possible. Remember the East Coast Rail Line (ECRL)? This is still under construction and based on existing timeline will be ready by December 2026.

Article in themalaysianreserve.com
  The government has approved the construction of the East Coast Rail Link’s (ECRL) Section A, a 210.4km realignment stretching from Kota Baru, Kelantan, to Dungun, Terengganu. Malaysia Rail Link Sdn Bhd (MRL) said, “The approval to the ECRL Railway Scheme for Section A would include, among others, the final alignment route, location of passenger or freight stations and the number of lots to be under land acquisition for the Kota Baru-Dungun stretch.”

“The ECRL will now have six stations under Section A consisting of Kota Baru and Pasir Puteh in Kelantan, Jerteh, Bandar Permaisuri, Kuala Terengganu, and Dungun in Terengganu. The progress of the ECRL project was slightly ahead of schedule when the MCO was implemented on March 18.” ECRL is a 640km project divided into three sections namely Section A, Section B (Dungun-Mentakab, Pahang) and Section C (Mentakab-Port Klang, Selangor), which is scheduled for completion by December 2026. It is expected to reduce the travel time between Kota Baru and Putrajaya to approximately four hours. Please read full
Article in themalaysianreserve.com

You can start planning for that surprise lunch already. I do think the ECRL brings a lot of economic benefits to all the towns it passes along the 640km route. Rail lines are a lot cheaper  both to build and operate and let’s have the whole Malaysia linked and later on all the way to Singapore too. Too bad that the High Speed Rail KL – SG is delayed. Else, it would have been completed at almost the same time as ECRL too. Happy driving, for now.

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Kota Damansara, the growth story and MRTs

High-rise for a family of four, or more? Minimum of 1,000 sf and should be in an area where there are branded hypermarkets as well as lots of restaurants and perhaps public transportation especially the future MRT? You may want to take a look at Kota Damansara. Yes, this is not that near to KL city centre. A search with Google Map revealed that depending on where you actually start, the distance could be slightly below 20km away. On a good day, it should take nothing more than 25 minutes. With jams, one hour is a better bet. What are some of the options available? I used iproperty.com.my to find out.

Besides prices which I think still affordable for a family, the nearest mall is Sunway Giza and The Strand. Slightly further away would be The Curve. There’s also a few hypermarkets like Giant and AEON Big. (I prefer Giant for variety, more restaurants and I think prices are pretty competitive). If your wife is pregnant, there’s also the Tropicana Medical Centre. Access is pretty okay. There is NKVE and LDP. I would suggest to use NKVE in the morning if you need to go to KL city centre. There’s also a few MRT stations such as Surian, PJU 5 and Kota Damansara which is under construction currently and should be operational next year. Yes, just one year away.

Besides these cheaper ones there are also the pricier ones such as Nexis Soho, and Cyperus which are already over RM1,000 psf. Of course, this is also supported by the fact the prices of older high-rises, especially those nearby or next to MRT stations are still appreciating. Want to have an overall view of what else is in Kota Damansara? Well, I would normally just drop by
propsocial.my
 It has easy to refer information but no matter how much you may read online, nothing beats driving around the area once during the weekends and once during the usual weekdays. Invest some time in understanding the kind of traffic that you would be facing.

Most of us have never been to many different areas. Most of us have often relied on what others are saying. Truth is, not everyone needs to stay in these so-called hotspots. If all of us are moving into the same few hot-spots, we are the few who would continue to pay premiums on top of premiums. An area can be good when many good people stay there. Well, I think all of us are good people. If all of us move into a secondary area, I would think that secondary area may soon be primary and in future perhaps a hotspot? Haha. Happy searching for your home sweet home.

written on 27 Aug 2015

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KKIA’s too popular. Expand, definitely. New site, my wish personally.

Do you know that Kota Kinabalu International Airport (KKIA) is the second busiest in Malaysia, after Kuala Lumpur International Airport (KLIA)? On a yearly basis, I go to Kota Kinabalu 2 times or more. I think it’s full of potential for property investment. In my last trip just 2 months back, I went to IMAGO and I think it’s well managed and has all the feel of a good mall.  Coming back to some stats for KKIA.
This was reported in propertyhunter.com.my
 Sabah’s State Tourism, Culture and Environment Minister Datuk Masidi Manjun said, “Last year, we recorded a 7.9 million arrival and looking at the trend now, we will be getting more and more tourists so we need to find a solution fast on how to handle the surge in visitors if it reaches the maximum capacity,” The full capacity of KKIA is said to be 9 million visitors per year.

KKIA is positioned to tap into a market of 139.4 million potential visitors within a three- to six-hour flight radius. On top of this, another 34.5 million international visitors pass through major aviation hubs like Kuala Lumpur, Hong Kong, Singapore and Bangkok.  The airport now services 180 international direct flights a week, with AirAsia currently holding 49pc market share, followed by Malaysia Airlines with 36pc, other airlines (11pc) and Malindo Air (4pc).  There are a few options for this potential expansion. Expand the current terminal through reclamation but this will cut into another mega project: the Tanjung Aru Development (TAED). It is also possible to build a totally new one in Kimanis and if the capacity is an issue, to divert some airlines and tourists to Sandakan and Tawau. Third option is to reopen the closed KKIA Terminal 2.

I personally think building a totally new airport makes the most sense. The new site would then have space for future expansion. PLEASE stop having the mindset that airports must be closer to the city. It should be very well connected to the city centre BUT it must be built further away so that expansions could be done easier in the future. Kota Kinabalu can only become more popular and not lesser. From the Mount Kinabalu to the beach facing South China Sea and even the diving havens, Kota Kinabalu is a wonderful holiday getaway!  It’s also the magnet for all the working people from smaller towns in Sabah too. More flights would also mean more competition and naturally it becomes even more cheaper to travel into Kota Kinabalu. I will always remember that I used to pay 3-4 times more when there were NO competition previously. My wife’s from Sandakan and I fly to Sandakan 2-3 times per year. It was always in the thousands. These days, it’s nowhere near a thousand ringgit and it’s possible to be below RM500 too. Well, let’s wait for the decision but my opinion is now made known. All the best KKIA. Do hit that 9 million soonest!

written on 18 Feb 2018

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Kota Kinabalu, one of the best for MICE in Asia.

I travel to Sandakan at least twice a year. For Kota Kinabalu (KK), I think I can safely put the average as once per 1.5 year. I always see it as vibrant and growing with potential for even more growth. There are not many places in the world where you get the sun, sea, mountain and culture all in one place. Affordable too, when compared to other places with sun, sea, mountain and culture! Haha. Kota Kinabalu has just been voted as one of the best resort destinations by the readers of CEI Asia, a publication for tourism and travel news, conferences, event and incentives. The survey has been running for the past 15 years and this recent award meant that KK is seen in the same light as Phuket or Bali. I have been to both Phuket and Bali and I like both too. Nothing beats home, though. So, my vote still goes to KK.

According to the CEI website, the two countries which has always been at the top has retained their positions. Hong Kong and Singapore are rated as the premier MICE destinations, competing for the top spot in numerous categories. I have also been to both Hong Kong and Singapoe and I love them both for different reasons when compared to KK, Phuket or even Bali. I think when we are looking at having more for less, these three spots would definitely be better when compared to Hong Kong or Singapore. More as in better hotels for less money, more culturally rich places to visit or even just lying under the sun on a real beach. More importantly, seafood in KK is much more fresher too and the chefs can definitely whip up a chilli crab dish easily.

As at end 2014, KK international airport remains the second busiest after KLIA. Yes, it is much more busier than even Penang international airport. In fact when we think about property investment potential, KK should be one of the few within consideration. With the reopening of KK mountain routes, I think it will be very busy again as the number of climbers are always increasing year after year. It’s time to drop by for a visit if you have never been to KK before. Enjoy a vacation there before thinking of property. I always think that we must love the place before buying and not simply buy because someone said so. It’s just a flight away bah.

written on 9 Dec 2015

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Kota Kinabalu Property – 2014 and beyond

Yes, I have firm interest in Kota Kinabalu as well. I fly to KK no less than once per year for the past 15 years. At this moment, I am only exposed there via a small condo unit which I had rented out for RM950 / month. Bought it slightly over 2 years ago for just RM182K. So, yes, the rental ROI is pretty good no matter where you compare it to. In Penang, a RM500,000 condo may only yield you a rental of RM1200 – RM1,500. In KL, I wrote in another article before, one Kepong condo of RM250,000 can yield a rental of RM1,100-RM1,300. The condo is not too far away from 1Borneo Mall which I think is still KK’s largest mall to date.

So, what’s up in KK market for 2014?

According to Maxx Media (S) Sdn Bhd Director Michael Hiew, ‘The RPGT increment and removal of DIBS has done little to discourage genuine buyers and investors in East Malaysia. The majority of investors in East Malaysia are relatively cash-rich and are looking at the long-term game. Most of them are from the tourism, agriculture, as well as the oil and gas industry – the three largest contributors to the local economy.’ This statement itself is a very good booster to your property investment plans in KK.

For those who thinks Penang International Airport is busy, think again. KK International Airport handles at least 30-40% more passengers than Penang International Airport. There are direct flights to 10 countries and in 2013, over 2 million foreign tourists visited KK. KK is more than just the amazing beaches. It has also the highest peak in ASEAN, Mount Kinabalu. If you have never scaled it before, I suggest you to try. It may not be as tough as HIMALAYA but in my last trip, out of 11 able bodied human beings, only 6 made it to the peak. There are also the highlands, the national forest park, national marine park and many more attractions. Suffice to say, ‘no wonderlah so many tourists go to KK’.

Currently, a lot of developments are continuing and within the next few years, you will see more and more high-rise developments. There are already very little if any land available in the KK city centre. Thus, the growth would come from ‘greater KK’ area which is where the 1Borneo Mall is and beyond. In fact if you want to know, the amount of land available is definitely still huge.

What are some of the projects available? Well, there’s Jesselton Twin Towers, 56 storeys high and GDV of RM650 million. How does it look like? Please refer to the left. Besides this, there are also the Harrington Suites with unit sizes starting from 2,455sq ft onwards. One more would be SBC Corporation Berhad’s joint venture with the Suria Group. This is the Jesselton Quay, a mixed development with a GDV of RM800mil. Mah Sing would also be developing the Kota Kinabalu Convention City (KKCC). This is an integrated project with a GDV of over RM1.4 Billion.

Typical prices ranges from RM500psf to RM800psf for high-rise developments while some premium developments would be even higher, perhaps matching KL / Penang too.

Wait, if you have never been to KK before, I think it’s time to go for a holiday. Don’t think about any investment. Go and enjoy first. Only if you get that ‘gut feeling’, then only you think about investing there. KK is not going to run anywhere. I am still thinking about climbing Mount KK one more time before I am way too old and way too fat to climb in a few more years.

written on 25 Jan 2014

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Kota Kinabalu Property, High-end on a growth cycle – Knight Frank

Reported in The Star on 7th August, Knight Frank estimated a new supply of 4,318 condominiums to be completed within the next three years. This would be the high-end residential units and it is thus on a growth cycle with demand at 2,000 per annum. If you look at this, number wise, it meant that the demand for these units still exceed that of supply. So, perhaps prices would be healthy moving forward. According to Knight Frank Malaysia, despite all the negative sentiments in the market currently, with transactions continuously going down, the Kota Kinabalu property market has remained buoyant and stable during the first half of 2014.

Three main primary factors would affect the property market and these are the much more strict measures in place, the electricity tariff hikes and the GST in April 2015. It specifically mentioned the southern corridor of the city as it has many new major projects such as Imago shopping mall, The Loft apartments, Oceanus waterfront mall, Pelagos Suites, Riverson and Gleneagles private hospital. Knight Frank Malaysia (Sabah Branch) associate director Ginn Lai expects the second half of this year and early 2015 to pick up in terms of new major development launches and announcements, particularly in the new development precincts of the old Jesselton port area and Tanjung Aru Eco Development. Land prices are becoming scarce and prices going up.

Personally, I am in Kota Kinabalu once a year. I still feel there’s too many ‘non-Malaysians’ in the city centre but I could see the growth, new malls, more and more people there and the many new condos being built. Besides that, not to be forgotten is the fact that people all over Sabah sees Kota Kinabalu as THE city to be if they want to upgrade themselves. Chinese calls it, ‘Ya Pi’. My brother in law drives to Kota Kinabalu a few times every year from Sandakan because that is where the action is. Beaches fronting the South China Sea, snorkelling, climbing Mount Kinabalu, the reasons are endless. Nevertheless, I do not believe anyone can predict what’s the actual demand because this is definitely a continuously growing city. Oh yeah, do note that Kota Kinabalu International airport serves much more visitors per year compared to even Penang’s International Airport.

written on 26 Aug 2014

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Kota Kinabalu property hotspots include Likas and Luyang.

Kota Kinabalu as a property hotspot?

Why do I like Kota Kinabalu? The question is too wide. Generally, Kota Kinabalu is the capital city of Sabah. Where migration is concerned, everyone from the smaller towns would think of KK as their first choice if they like to move to a bigger city for opportunities. Where international tourism is concerned, Kota Kinabalu International Airport was the SECOND busiest airport in Malaysia, right after Kuala Lumpur International Airport. Think China, South Korea and even Hong Kong tourists. Nope, Penang International Airport is the 3rd busiest, not second.

Today, we talk about KK for property investments. By the way, Kota Kinabalu is considered a major property hotspot together with the Klang Valley, Johor and Penang. So, within this hotspot, what are the areas where a lot of transactions happen then?

Image source: wikipedia

Article in edgeprop.my
 Abby Tan of IQI Realty says that Luyang and Likas would be on top of the list. Both these areas are chosen for their proximity to the city centre. Luyang is home to some of the oldest and most well-established neighbourhoods in KK. It is also highly accessible to Penampang which is a growing development which is becoming a popular location for homeseekers.
Meanwhile Likas is situated on the outskits of the city centre but is highly accessible to the city centre via the coastal road of Jalan Tun Fuad Stephen. This sub-district is home to some of the state’s administrative offices and the chief minister’s office. There are many education institutions here too. They include Universiti Malaysia Sabah, Universiti Teknologi MARA KK, Politeknik KK and Tunku Abdul Rahman University College. To read the article in full, click
Article in edgeprop.my

I wonder when is my next trip

I have not been to Kota Kinabalu for close to 2 years maybe. Else, I would think my average trip to Kota Kinabalu (KK) is at least once every year. There were times when I was there 3 times a year. My wife is from Sandakan, so naturally, I travel to East Malaysia and do not think of it as some extremely far away and unknown place like many Malaysians from Peninsular Malaysia. I do think trips to KK would soon continue once vaccinations are done and we are back to as normal as possible.

Yes, KK will continue to be a property hotspot

If we look at what’s happening today, KK has remained on the radar of many property developers and investors too. If we look at what may happen in the future, then the future may really be very bright indeed if Sabah could be well connected to Indonesia’s new capital city; East Kalimantan. If we use Kuala Lumpur and Singapore as a benchmark in terms of connectivity and frequency, it is quite certain that East Kalimantan will be a game changer and for people in this new capital city, they could travel to Kota Kinabalu for business and pleasure too.

Maybe not so soon but even assuming 2 flights per day, that’s a total of 600 people going into KK every day. That’s 6,000 every 10 days and it’s 18,000 every month. Demand for accommodation? Definitely. For the richer ones, a property may be a logical choice too.  Note: NOT SO SOON okay. It’s a totally new capital city. Even Rome was not built overnight. In the mean time, just enjoy KK first once the flights resume.

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Kota Kinabalu property market, shortages soon?

How many foreign workers would you find in a construction site in Sabah today? Well, except for the site supervisors, I think nearly everyone is a foreign worker. Of course, not just true for Sabah but also Peninsular Malaysia too. The problem with over-reliant is that if some unforeseen circumstances do happen, it will affect the construction and thus the actual property development’s completion date itself. According to a local daily report, it is said that 95% of the construction sector in Sabah are relying on foreign labour. Yes, it’s 95%. Needless to say, if these foreign labourers suddenly disappeared from the construction sites majority of all property developments would be affected. Even today, it is already facing labour shortages, especially because developments bought less than 3 years ago are in progress of being built and any delay comes with late penalties.

According to the Sabah Housing and Real Estate Developers Association (SHAREDA)’s President, Datuk Francis Goh, property sector is a very important contributor to Sabahs economy. Thus, the industry needs a sufficient and consistent supply of workers. This will help in all the projects which is being built whether they are government related ones or private ones. As usual, locals are not interested in these jobs which are deemed to be tough and low level. Thus, the number of foreign workers continue to increase with the booming property sector for the past many years. In fact, another important factor why these numbers would reduce is also because of the release of the Royal Commission of Inquiry last month. This will definitely see more actions being taken on the undocumented migrants in the state and this will indirectly affect the number of workers available in the construction sector. Many more will be deported once caught.

Personally, I think the developers just have to do things the correct way. If they hire illegals to save on documentation fees, in the long term it would come back to haunt them. If however, everyone follows the usual rules and regulations, I think the state government would be clearer on what to help and how to help. Currently, I sense a disconnect and I seriously do not think anyone can say for sure how many construction workers are actually needed. Once this is not transparent, there’s no way that actions can be taken. No, I do not think the locals would take up the job even if they pay slightly higher because it’s the perception too. Not many Malaysians would want to slog under the sun together with a majority of foreign workers. Would you?

I also believe that the numbers being contributed to the Sabah economy from the property sector is huge and the state may have to do more to ensure this ‘engine’ does not stall. Do remember that once the workers leave or deported, the construction work slows and the completion dates delayed. Very soon, the risks to build becomes far higher than the expected profits and the smaller ones may just opt not to build. In the future, no one benefits from this. The industry slows, the number of output goes down and well, with the same demand, the prices would go up. I just hope that the state government and the developers are working together because the Sabah economy is at stake here, not to mention a home sweet home for majority of all Sabahans. (I am partially Sabahan too by virtue of my wife being a Sandakan, haha.)

written on 17 Dec 2014

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Kota Kinabalu Property, High-end on a growth cycle – Knight Frank

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7 things in favour of Kota Kinabalu’s future growth

Property Market must be supported by many catalysts. Among them would be people. So, what’s happening to the Kota Kinabalu property market then? Actually, quite a lot. In fact most of these are already happening and we are not speaking about some new townships in the suburb. Kota Kinabalu is already a well established property market. The question is what are the things which are in favour of further growth for Kota Kinabalu when it comes to the property market. Below are 7 reasons why people including me may love KK.

#1 Adventures and Attractions abound.
Oh yeah, did you know that I have climbed Mount KK two times? I was successful both times too.
Read about my successful adventure yeah. Stay healthy, go climb Mount KK.
So, the first thing which is in Kota Kinabalu’s favour is that it has access to both the highest peak in South East Asia and a sea which fronts the South China Sea. Whether high up or a jump into the sea with sandy white beaches and islands to snorkel merely 40 minutes away, KK has them all.

#2 Strategic location for overseas travellers.
 It’s only a few hours away by flight from China, South Korea and Hong Kong.  When tourism prospers, the city prospers because of tourism ringgit. Imagine just 1,000 people arriving daily and all these people need a place to stay. They would need 500 rooms if they shared rooms. What if these tourists do not leave so soon and the next day another 1,000 arrives? KK International Airport is the second busiest airport in Malaysia and it handled 8.6 million travellers in 2019. This is 23,561 travellers DAILY and not the 1,000 I used for my calculation.

#3 Recovery may take time but value has been established.
 There are expectations that the property market may be recovering in 2H 2021. However, what’s important to note is that even as at today, in popular areas such as Luyang or Likas, the double-storey on the market has an average price of
RM650,000 – RM800,000 and semidee units are going for between RM1 million to Rm1.5 million.  (source: edgeprop,my)
.  These prices tell us that KK property market is up-to-date with typical landed home prices and that people do recognise home value there.

#4 – Locals, Expats and even Tourists from West Malaysia.
We spoke about the international travellers earlier. Actually, the travellers would include locals (from smaller towns in Sabah), expats (not that many but definitely a number) and also lots of tourists from West Malaysia. Beyond just the mountain and the sea, everyone comes to Kota Kinabalu for the seafood too. Let’s understand that siakap (barramundi) is NOT considered a common fish yeah. Typical fish? Garoupa… Typical prawn? Sea prawns. Typical Seafood? Alive and swimming in the tank for many seafood restaurants…

#5 – Connectivity will get better.
Pan Borneo highway is now under construction. With more connectivities, the more economic activities will happen.
This is 60 percent completed in Sarawak and 40 percent completed in Sabah.
Good accessibility is a top consideration for property investors. Flying into KK is one thing but with nearly every Malaysian with a car, roads become that catalyst. The Pan Borneo Highway will open up KK even further, going  through Putatan, right up to Sepanggar.

#6 – Kota Kinabalu is already a city.
This is not a small town trying to grow into a city. KK as a city has a population of 500,000 and Greater KK is said to have a population of 900,000. If we count just the 500,000 and a growth of 2% per annum, this is 10,000 new population every year. Demand for everything will continue to increase and do note that population increase does not come from just new births. It’s coming from all other towns in Sabah and this is why urbanisation will always benefit bigger cities.

#7 – Future Proof property market?
 This is one latest article about East Kalimantan. The Indonesian government is allocating 1.7 TRILLION rupiah (RM481 million) for the development of East Kalimantan this year. Yes, this is only for 2021.
Article in antaranews.com
  So, this is certainly not just all about announcing and nothing about implementing. If anything, this seems like a project which receives the biggest attention from the government and it will have to be successful. KK property market will definitely benefit from being the closest Malaysian city to the new capital city of Indonesia.

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KPKT needs more land (even from other ministries). Let’s help.

I firmly believe every Malaysian needing help to own a home should be helped to own a home. Without a property, any household would always be poor because they could never enjoy any capital appreciation from a property they own. Even a RM200,000 property can still be worth half a million when
retirement comes. Here’s that article.
 In fact, in order to ensure market does not face a property bubble, more affordable homes would be needed. If the supply is not available, buyers will be forced to pay higher and if everyone is paying towards the ceiling of their limit, imagine what will happen if they suddenly lose their job. That’s BUBBLE BUILDING.

Our Housing and Local Government Ministry (KPKT) has requested other federal ministries to provide unused strategic land for the development of affordable housing, said minister Zuraida Kamaruddin. She said, “Land with good accessibility and located in town areas is not easily available and if there is, it would be very, very expensive. So the ministry is looking at all the pocket lands for affordable TODs (transit-oriented developments.” She added, “Together with the other agencies and ministries, we are looking at lands under tem that are located at strategic locations but unused.” What KPKT is targeting to do is to provide one million affordable houses for the rakyat over the next 10 years. Thus it has to keep looking at various means and approaches.
Full article in Edgeprop.my here.

You know what we can do? Maybe we should start scouting some land for KPKT to request from other ministries. Especially some of the ministries with huge plots of unused land right next to it within the city centre. Actually, with the advancement of technology, the need for huge buildings may not be that critical anymore. In fact it may be best to share facilities and buildings because this is already happening in the business world today. Collaboration is now key to competitiveness. Happy searching and you may post good plots you found here. I think I have a way to send it directly to KPKT. Thank you fellow Malaysians.

written on 29 Nov 2018

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Kra Canal of Thailand, changing the shipping world

Something I read many years ago caught my attention again today. It was a Facebook sharing about Kra Isthmus. What’s that? Kra Canal? What’s that? Well, this is where Thailand digs a water canal route from one end to the other, thus literally splitting Thailand into two parts. It will provide a link from the Andaman Sea to the Gulf of Thailand. What’s the benefit to Thailand? Economically, it’s huge. Imagine half of all the shipping lines if not more choosing to pass through this canal instead of going through the Straits of Melaka.

Well, if this project really do complete, it would mean the Singapore Port would cease to be a major port of the world. Not immediately but definitely in the decade after Kra Canal is completed. In fact, it would also affect the Port Klang and even Port Tanjung Pelepas tremendously. Yes, the Indonesian ports too. Passing through the canal would save the shipping lines a 2 or 3 days not to mention that they would be free from the dangers of piracy in the Straits of Melaka.

Okay, now for the possibility of this happening? There has been many reports, each with their own views and some said that this project is now given serious consideration at the highest level in Thailand. Personally, for those who are worried about this project, you may start to be afraid really slowly. Without a very strong government which can withstand the protests from the Thai people, this project is not likely to be given the nod to go ahead.

Secondly, even if we assume the project actually starts within the next year, it would definitely take much longer than the time to build the HSR KL – Singapore. In other words, if HSR can only be completed by 2022 or later, this Kra-Canal would have to be even further. I would want Thailand to be always peaceful but do note that historically, the government of Thailand do change much more often that many other nations, often by the army. Today the Prime Minister is from the army but after the election, if he is still the Prime Minister, I think he cannot continue to hold his army post at the same time. That would be really bad for his image.

So, I think the project may take off in the future because it seems that China is the one helping Thailand in deciding and I have to say that economically, the project should help the Thai economy tremendously too. As for the timeline, I may have to retire first before the project can be completed. That’s many years away. Happy reading and knowing about Kra-Canal.

written on 18 May 2015

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Let’s travel to Krung Thep Maha Nakhon. Where’s that?

Yes, from the name, it does seem that this is in Thailand. Nope, I do not find it hard to pronounce. I am a Malaysian and is used to all these versus that countries with just one language. I have been to Thailand many times and for this Krung Thep, I used to go there once every other month for work a few years back. Yes, the years before the arrival of Covid-19. Now, let’s read a bit first.

Article in freemalaysiatoday.com
  The Thai cabinet on Wednesday approved a change in the capital’s official name in English from Bangkok to Krung Thep Maha Nakhon.  The change to the city’s name was proposed by the Royal Society of Thailand, known as the national academy, which regulates proper use of Thai language for literature. Krung Thep Maha Nakhon has been recognised by Thais for decades as an official name of the Thai capital.  Yuthasak Supasorn, governor of the Tourism Authority of Thailand, said: “We will continue to promote Thai tourism activities and campaigns under the name Bangkok, as usual.”  Please do read the full article here:
Article in freemalaysiatoday.com

Bangkok or Krung Thep is okay lah

Bangkok is a name famous all other the world. It’s unlikely that visitors would ever change the word they use from Bangkok to Krung Thep too. However, if I were to take wefie and there’s a signboard saying Krung Thep, I do think everyone will want to take that photo and try to surprise some of their friends who may not know where is this Krung Thep place.

The delicious food, the Land of Smiles, the many sights and sound will not change too. Even the hospitality of Thai people will remain more famous than the debate of Bangkok versus Krung Thep. Happy changing the name my dear Thai friends. Yes, I will start to interchangeably use Bangkok and Krung Thep from today onwards too. I just wonder when is my next trip to Krung Thep.

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KSL in Klang, RM2 Billion mixed development, 2018

A colleague asked me a question the other day over lunch. He said, ‘you know I live in Klang, do you think Klang properties would increase in price to be like Kuala Lumpur.’ I said, what do you think. He said he does not think so. We both laughed. Honestly, if we are working in KL and we stay in Klang, it’s not that near. Of course, if we leave early, the journey may take less than 45 minutes but that’s the only way we can arrive on time. Otherwise, it may not be wise to stay in Klang. That explains why the property prices in Klang is not going to be at the same level of KL. The demand and the perception of a nearer property is definitely more positive than a further one.

I read a piece of good news for Klang in an English daily recently. It reported that KSL Holdings would be starting work on its KSL City Mall 2 which is expected to be one of the largest malls in Klang within 2015. The mixed development has a gross development value of RM2 billion and it comprises a mall, hotel and service apartments. The total area for the mall is 2,000,000 sf. Yes, this is 2 times bigger than Paradigm Mall. The overall completion date is pretty fast actually, in 2018. KSL Holdings chairman said that this mall will be a replicate of its existing development in Johor Bahru.

If you have been to Johor Bahru, you can also stay at KSL Resort which has access to KSL Mall. I have personally stayed there a few times when it was still new and have no complaints. Even the buffet breakfast is good with lots of choices. This KSL City Mall 2 would be accessible via the South Klang Expressway and KESAS Highway. A little further away would be the LRT 3 in 2020.

Personally, I think I can now tell my colleague that with this mall, surely Klang folks can have another huge mall to visit and does not need to drive to KL during the weekends. Thus, the positive factor would increase and property prices should move, in tandem with the usual average increase. As for KLites driving to Klang Valley to shop in KSL City Mall 2 instead of the many malls here in KL, I have to say the chances of that happening would also be rather low. Thus, the status quo should remain the same. Oh yeah, I love my colleague’s landed property in Klang in a matured neighbourhood costing only over RM350,000. the only issue is that my lifestyle may have to change a lot if I were to stay there and work in KL.

written on 24 June 2015

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

Reported in The Star (16 August 2014), Raine & Horne executive director Lim Lian Hong says in Kuala Lumpur, condominium units dominate the residential sector with transactions accounting for 70% of the market. Developers are building even more high rise because this is more lucrative and condo units are now priced at RM700,000 per unit instead of RM600,000 a year ago. Prices of double and 2.5 storey terraced houses are now RM900,000 on average versus RM700,000 last year. These are average numbers and not the absolute numbers.

I think the above confirms what a friend of mine said 2 years ago. She will only be concentrating on landed properties because it will appreciate much faster moving forward compared to any high-rise units. I told her then that I do agree but I would still stick to my ‘still affordable high-rise’ investment principle instead. Landed properties are indeed better for capital appreciation but rental yield cannot even break-even, just be prepared for some negative returns for a while while waiting for the potential capital appreciation which should happen if you bought at popular areas. Condos may not even have much capital appreciation and if they are old units may require more maintenance but it is still easier to rent out and possibility of a very marginal % return is still possible if you are renting it out fully furnished.

In terms of Selangor, Lim said that it is also slowing down and the volume is concentrated in the RM500,000 to RM1 million range. I think I agree as I had also just bought a unit within that range in Q4 of 2013. Majority of the transactions are within Petaling. If you are in the market you would understand that Petaling is HUGE! From Kelana Jaya to Damansara Utama and all the way till Damansara Damai right next to Sungai Buloh, all these are still within Petaling! The average prices are of course lower compared to KL. It ranges from about RM280,000 a year ago to about RM330,000 for the first quarter of this year. Don’t look at me and said, ‘there’s no such units in Petaling’. Again, this is average. For absolute numbers, trying going online and check it out. I think either PropertyGuru or iProperty or Propwall should have the information you want.

written on 16 Aug 2014

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Kuala Lumpur Structure Plan 2040. Are you sure you have expert opinions? Tell quickly please.

Do you know that KLites have a chance to provide relevant and good feedback on the draft of the Kuala Lumpur Structure Plan 2040 (KLSP2040)?  In case you did not know and you thought that the deadline has passed and there’s nothing else you could do, there’s a good news. Kuala Lumpur mayor Datuk Nor Hisham Ahmad Dahlan has extended the protest and review period of the draft KLSP2040 from 18th March (next week…) to 18th April 2020. Please do not miss it again.

Draft online could be viewed at:
www.dbkl.gov.my/klmycity2040
”

The public can also provide feedback on the KLSP2040 at
www.dbkl.gov.my/epandangan

Article in edgeprop.my
 here. There were complaints that the online version of the structure plan could only be downloaded in early March and not when the printed draft was launched on Feb 18.   Some residents also complained that when they went to the premises advertised for displaying the plans on Feb 18, a Kuala Lumpur City Hall (DBKL) employee claimed that they were not informed of the matter and residents were unable to inspect the draft.

The structure plan is a blueprint that outlines the goals, development strategies and policies of the development of Kuala Lumpur. It is expected to be gazetted in December.  The Star also said a scheduled briefing by DBKL on the draft plans on March 13 has been postponed following the COVID-19 outbreak. DBKL said in a statement, “Based on advice from the Health Ministry and DBKL Health and Environment department, the briefing for residents associations, resident representative councils and DBKL branch offices has been postponed to a later date. But stakeholders can still view the full draft online at
www.dbkl.gov.my/klmycity2040
”  The public can also provide feedback on the KLSP2040 at
www.dbkl.gov.my/epandangan
   Full
Article in edgeprop.my

I personally believe that the experts should provide their expert opinions based on the need for a balance for development and environment. I do not favour the side which stressed too much about the environment and that developments are generally seen in bad light all the time. Please remember yeah, just because someone bought the place earlier does NOT mean others must only buy in some other places and leave that earlier place untouched and unchanged. Do note however that I will also be the first to protest if the development benefits ONLY the developers and will cause real danger to the people. Cheers.

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RM15 billion GDV Kuantan Waterfront Resort City

GDVs, even for Malaysian developers are getting every larger. Perhaps this is a sign of times, of the growing Malaysian developers. Another one was just announced in many medias. Bina Puri Holdings Bhd and CCCC Dredging (Group) Co Ltd will be forming a consortium for the Kuantan Waterfront Resort City with each having a 50 percent stake. The project would have agross development value (GDV) of RM15bil to be built over a period of 10 years. Bina Puri Holdings Bhd chairman Tan Seri Datuk Wong Foon Meng said “Bina Puri will undertake the development of the waterfront while the reclamation work will be carried out by CCCC Dredging.”

The project will start with two serviced apartment blocks and a waterfront food and beverages complex. Overall, the development comprises a residential development, commercial development and education as well as medical tourism facilities. The first phase which are the serviced apartment blocks and waterfront food and beverage complex is 70 percent sold and most of the buyers are from the East Coast. Kuantan Waterfront Resort City will be Kuantan’s first integrated resort, leisure and entertainment destination and it is just 2km away from the Kuantan city. Total area covers 500 acres of reclaimed land.

Want to know a little bit more about Kuantan? Besides just reading wiki, here’s a
blog to help you too.
Kuantan’s beach faces the South China Sea which is definitely an awesome view. As for the sand, I understand from my friend who is from Kuantan that it’s definitely ‘whiter’ than the sand in
Batu Ferringhi Penang.
 Distance wise, Kuantan is 233km away from Kuala Lumpur and this entails a driving duration of about 2 hours and 30 minutes. I think I will pay my friend a visit the next time she goes home. My kids love the beaches and we have been to Morib way too many times and the beach as everyone knows is not exactly white in colour. More awesome places in Malaysia is always welcomed.

written on 10 Oct 2016

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