Tasty, Happy and Charity can go together. Please support them.

I believe Tasty, Happy and Charity can be achieved at the same time. I also believe readers of kopiandproperty.com are charitable and not just interested with property investment. 🙂  This is our chance to help, especially those who wants to order tart, brownie, cake or just a loaf of bread that rolls out from these bakers. This is not giving money away to charity and hope it helps someone. This is supporting a real business venture (bakery) so that some of the se special adults could also earn a living through their own efforts.  Do take a look at the menu for a lot of these delicious bakes. They even deliver to your doorstep. Do not hesitate. Order or help to tell more people. They have no money for marketing and promotions but they have kind hearted people like us. Alternatively, just order and enjoy their hardwork.
Here are simple ways to order.

WALK-IN

Leisure Commerce Squire, Block A2, Level 1, Unit 126, Jalan PJS 8/9, 46150 Bandar Sunway

WHASTAPP / EMAIL

Whatsapp us at 019 242 0075 017 471 7273 or email us at bakewdignity@gmail.com

ORDER ONLINE

1) Visit our website at
http://www.dignityandservices.org
 2) Click ‘Bakery’

3) Order away

Their menu here:
Menu with Price_for customer_20170911 (1)

More details about these brave bakers here:
BWD flyer-Front-Back_Sweet Faces Mean Bakers_A4_Rv2 20170323 (1)

Thank you very much everyone.

Cheers.

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Tax collection on the way up? Most probably not too far away.

My close friend was telling me how inadequate she felt whenever she travels to China these days. Banknotes or even credit cards are not that useful anymore. It’s cashless even to ride a taxi for a short distance! We (Malaysia or ASEAN) should become a cashless society in the future. Probably even within my lifetime. Cashless also mean everything becomes electronic. When everything is electronic, it becomes transparent and TRACKABLE. You can run but you can;t hide comes into mind. When we pay for goods and services, it is traceable back to us. If we get paid for our services, it is also traceable back to us. Applicable even to HAWKERS as long as everyone starts using their smartphones as payment in the near future. For the tax authorities, this is a great incentive to help push the cashless mode forward. Of course with more Es, it means there is less need for employment of more people. Not so sure what will happen to new recruitment of tax officers in the future.

Anyway, there is this article in Straits Times about
how the Singaporean tax authorities
 would be working with GRAB and UBER on automated tax filings for their drivers, 40,000 of them it seems. Hint.. Hint… What about Malaysia? There are already news about the tax officers sitting at some famous hawker stalls and counting the number of customers on a daily basis. No idea how true is this but then again, if the stall is really too famous, it’s hard to be missed. As for the interviews inside that article above, one of those interviewed were saying this, ‘I don’t think self employed people declare their full income.’ Singapore University of Social Sciences economist Walter Theseira said, “It’s only fair that people pay the same income taxes regardless of whether the money was earned through self-employment or wage employment.”
 That full article in Straits Times here.

Perhaps the evolution of electronic payments would really uncover anyone and everyone trying not to pay taxes currently. If this it the case, the tax authorities may already be working closely with all these new technological partners. I really do look forward to reading about the final conclusion from the Singapore’s authorities on this. It may well be a model even for other advanced nations and ASEAN should this arrangement with both GRAB and UBER work well. New drivers thinking of GRAB and UBER may now have to consider this as well, in the future anyway. Yeah, this is part of the fintech story and this may even cause lots of disruptions with traditional lenders if they do not adapt well. This one would be another article in future. Cheers.

written on 17 Sept 2017

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Tax me lower please. I am the one living here.

This is still a hot topic in Penang; Quit Rent. Earlier article here:
15 years no increase. Now it increases in Penang
 Anyway, money as a topic, especially if one has to part with theirs will always be a sticky point. Giving to charity is usually seen as different from paying taxes. Recently, Penang Chief Minister Chow Kon Yeow said that all high-rise owners have until May 2020 to settle their dues without any late penalties. I am okay with this. Will be settling mine very soon.
 Click here for that article.

However, it seems that this is a separate matter altogether because an NGO has proposed to the Penang authorities to consider the purpose for the property in the assessments. In other words, I think they agree that there should be an adjustment but that the assessment for properties which are for commercial purpose should be higher.

Article in edgeprop.my here.
 Citizen Awareness Chant Group (CHANT) legal adviser Yan Lee said that the the Penang authorities should look at the calculation of council fees in developed countries. He said, “Ideally, owner-occupied properties should be charged less. The same goes for those who are disabled or in the B40 (low-income) group.”

He also explained that commercial properties such as restaurants should be charged more as they generate more rubbish that has to be cleared by local councils and involve services such as regular health inspections. He added, “The chief minister has said the increase will be RM10 to RM30, but it is still a significant increase for some.”

State assemblyman for Machang Bubok Lee Khai Loon proposed that the state government should consider exempting low and middle-income families from Penang’s from the hike. He said, “The hike should be directed at those with bungalows and expensive estates, those living in high-end homes.” For the full article please read it in the
Article in edgeprop.my here.

Frankly speaking, RM10 to RM30 increase is not high. However, some owners who own quite a number of units may feel the pinch. As for the B40 households for example, any increase in amount is likely to be considered a burden. CHANT has a valid proposal though. Commercial properties by virtue of it using more of the council’s services should pay a little higher than owner occupied units.

As for the review in assessment rates, I do hope that the council should refrain from doing nothing for the next 15 years and suddenly introduce another big increase yeah. RM10 every 5 years will definitely be more palatable than RM30 at one go. Let’s see if the Penang state government will listen to CHANT’s proposal. It will benefit many but a decision should be made as soon as possible. Else, the owners may not want to pay yet until the deadline looms… Malaysians…

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TAX article about the TAX that will be coming in Budget 2019

There’s a famous line,”in this world nothing can be said to be certain, except death and taxes.” According to freakonomics, this was a line from Benjamin Franklin’s letter. Malaysians may be bracing for some, at least when the Budget 2019 speech is delivered this Friday (2nd Nov 2018) by our Finance Minister Lim Guan Eng. What are some of the taxes that Malaysians think will be coming for the new financial year? Here’s one survey result from Edgeprop.my from
2,463 respondents. Please read the article here.
 Respondents in the survey mainly come from those with an annual income of below RM60,000 (35.8%), followed by those earning from RM61,000 to RM120,000 per year (32.2%), from RM121,000 to RM200,000 (16.1%), and from RM201,000 to RM480,000 (10.9%). The remainder 5% are made up of those with annual incomes of RM481,000 to RM600,000, and above RM600,000. (Does not seem like the B40 group to me)

In brief, over half or 56.9% of respondents said the government should NOT raise tax revenue to pare down national debts. However, when asked if it is coming, what would be the taxes that the government should raise, the answers are as follows:

Image source: Edgeprop.my

76.8% said there should be higher stamp duty for foreign property buyers. As for what are some of the taxes that may be introduced the answers are as follows: 64.4% think soda tax will be introduced, followed by digital tax (defined as tax on new economic activities like ride-hailing or online shoping transactions and peer-to-peer property rental) at 57.3%, carbon tax at 53.9%, and property vacancy tax on non-occupied high-end real estate at 51.6%.

Trailing low on the list is capital gains tax at 30.2% and inheritance tax at 24.7%.

Image Source: Edgeprop.my

Please refer to the full
Article in EdgeProp.my
  Personally, I am on GST’s side for its flexibility; redistribution of the collection. I note on its weaknesses as per so many analysts and believe it could have been rectified instead or being replaced. Well, one thing is for sure, every government in the world would always need tax revenue. If one source is giving them lesser, they would have to find a new source. This adjustment hopefully will be one off and Malaysians could then focus on earning more money (government to facilitate expansion of the economy) instead of paying higher taxes. Happy following. Remember, taxes do not usually kill us. Inaction is that culprit…

written on 1 Nov 2018

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Even taxi licenses are over RM4 million

In my latest trip to Hong Kong, I did not buy the Octopus card because I did not take the MTR. This was my first trip with a toddler and a baby in tow and taxi is definitely more convenient. Yes, I think in total I spent close to RM1,000 for taxi fares. Perhaps that’s because I did not plan well. I love to speak to these taxi drivers as they are definitely one of the most on the ground locals that we can find. One in particular told me that he survived after suffering a heart-attack and crashing his taxi. Someone saw the accident and sent him to the hospital. Miraculously, he survived and today is back to full-time work.

At the time, he was driving non-stop everyday, apart from his sleeping time. Thus he was eating supper everyday and this caused his cholesterol to build up, arteries clogged and the heart attack came one day. The reason he was driving like a possessed man? He wanted to finish paying for his taxi and the permit as fast as he could. The taxi and the permit was at the time HK$3,500,000. (RM1,860,000). He could earn a nett income of about HK$25,000 and thus besides his small apartment, he was also paying for his taxi the fastest way he could; maximising his time on the road. He told me that these days, he no longer takes oily supper, (fried food, intestines etc) preferring to be healthier. He has FIVE kids! Time for family is now important and he strives for work-life balance.

As I was interested to know more about taxi and permits in Hong Kong, I googled for more news and today, the investment needed for one taxi and a permit is RM4 million. (HK$7.66 million) In fact some investors have started to accumulate these ‘investments’ instead. One good reading is
here
. I think for newer taxi drivers in Hong Kong, that option to buy the permit and the taxi will take them many years of working extremely hard. These taxi drivers would also have to contend with very high property prices. Of course, since they are driving, they could stay further away so that properties become more affordable. I arrived home from Hong Kong with a new understanding that regardless of the country, working hard should be a virtue all of us should have. Yes, plus non-stop learning and investing. I think I will be back to Hong Kong again. Happy travelling.

written on 19 Sept 2016

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Parents with kids? Teach them about money.

Parents with small kids? I think this is an article that we should read to learn a few ways to
teach our kids about money.
 It’s written by Mark Reijman, the co-founder and managing director of
http://www.comparehero.my
 A few points he shared is quite relevant to me. “Teach them about the finiteness of money by letting them make trade-offs and let them learn to prioritise: the zoo or the amusement park?” I really do give her choices. For example, either the McDonald’s toy or ice-cream. She would always choose the toy. Haha. Mark also shared that he wanted his kids to understand money is not some magical entity which grows on trees, but that it is something finite which can be gained and lost, managed and controlled. I think he is by far more structured than me. I teach my daughter that we cannot simply buy anything and everything because it is expensive.  So far, so good.

Now for my own sharing about money topics with kids. My daughter will be 4 very soon. She does not have her own smartphone or tablet. She does not cry for me to buy toys for her in Toys R Us. We go there once every two weeks. The reason is very simple. I speak to her like an adult and I told her that to buy a tablet like what her cousin has, it’s EXPENSIVE. Papa and Mama must work hard to earn enough money so that we can go out for dinners in Old Town for example. By the way, the kid’s set in Old Town is VALUE for MONEY. These days, she is the one reminding the brother not to take the toys when we are in any toy department. She would say, ‘We are not buying. It’s expensive. Please put it back.’ No joke, this is the actual sentence from a nearly 4 year old to her 20-month old brother.

During the school holiday season, her nursery set up a mock canteen and asked us to give her some pocket money. The principal said RM1 is more than enough. They just wanted to give the kids the chance to use money. On the first day, we gave her RM1 in coins. She used only 20 cents. She bought Lolly-Pop. I think her school must have suffered losses to sell her a Lolly-Pop for 20 cents. Haha. On the second day, she used ALL the money. Actually, we do not know how she used it but she told her she bought many things. We told her that she should also spend some money to buy something for her brother. She really bought her brother a Lolly-Pop and later some other little sweets etc. I think she loves her brother even though they fight EVERY DAY these days. Of course, she does not yet have any sense of how different are coins from notes BUT she knows that she cannot simply request for toys or snacks because things are expensive.

Oh yeah, this is how my good friend taught his 10 year-old son. It works too.
Saving, budgeting and investing by a 10-year old

I think the most important thing is that we are also disciplined enough when we use money. Be reminded, kids learn by watching what we do. We cannot be buying this and that everyday and when they asked for some toys, we answer that we do not have the money. How we use money would affect how they use money in future. It’s thus great to have kids because we may have to change so that our kids would learn about using money the right way. Happy moulding your kids on their thoughts about money.

written on 22 Jan 2017

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Teh Tarik – Favourite of many

We have been going to mamak often. So often that every now and then, a new one opens. Everyone has also been up in arms over food ranking especially where Makaysia and Singapore is concerned. Some say Penang is a food haven and that Singaporean food is only for those who want to eat so that they can stay alive. Whoever wins, I don’t care but today I want to tell you three stories why teh tarik should be the best drink that Malaysia has to offer to the world.

I have brought two different batches of MBA students from Massachusettes Institute of Technology (MIT, USA). I would not say they are really better than me since I also have an MBA but their university is for sure much more renowned. These MBA students said they wanted to taste something very Malaysian. I brought them to eat Nasi Kandar Kayu since they were staying in Vistana Hotel which is right next. The food, the gravy, the roti canai, I love it very much but their major comments, everyone of them was this, ‘Charles this teh tarik is amazing!’

Few weeks ago, I had the pleasure of eating lunch with my colleague who’s an American, his wife to be and his parents. We went to a very nice ‘under the tree’ curry rice. While they said they loved every type of Malaysian food thus far, their main love was teh tarik! Everyone of them asked if there were anyway that they can buy some back. When they learnt that the best teh tarik had to be ‘pulled fresh’, they were sad. The father even said if they can bring this back it may be a big hit in Texas!

I remembered when teh tarik was just 80 cents. It is now at least RM1.50 in majority of the places. Did anyone stopped drinking teh tarik? Any mamak shops closed down? I think the answer is very clear. It is not just popular in mamaks but today you can find the 3 in 1 Teh Tarik on the shelves of all supermarkets. The number of brands offering it are also increasing every few months! Oh yeah, last but not least, do you know the history of teh tarik? If you do not, go to a cafe called ‘Teh Tarik Place’. Their menu has the history printed on it.

written on 3 Jan 2014.

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Teluk Intan: Uniqueness second to none

My real hometown is Teluk Intan. I was born there. I do not foresee myself retiring there but let me tell you about Teluk Intan which is also known as Teluk Anson (TA), depending on how old you are. A report in an English daily said that Deputy Prime Minister Tan Sri Muhyiddin Yassin has declared the Leaning Tower of Teluk Intan as a National Heritage. He said that the tower was built in 1885 using the Pagoda concept and thus is very unique with the influence from the Chinese and architecture. It’s also a historic landmark and has even a water tank for the dry season as well as fire-extinguishing facility. Some of these things he mentioned, I have no idea before this. However, I have the following to say about Teluk Intan.

I have been to Leaning Tower of Pisa in Italy. It’s double the height of TA’s  leaning tower. It’s also much more famous. More people visit it daily. However, tell me again why is it so famous? Yes, there’s just ONE in the world. Leaning tower of TA is exactly the same. The only issue would be accessibility, unless you are driving in, the closest international airport nearest to TA is KLIA. The second issue is really just local support. Not many people are really that amazingly proud about this fact and always say, ‘aiya, nothing special’. I repeat, I have been to Leaning Tower of PISA, so if anyone wants to say ‘nothing special’, I can say exact same thing about the leaning tower of PISA, ‘nothing special.’.  Don’t believe me? Just go to leaning tower of PISA, take pictures there and then? Nothing else, you can eat some Italian spaghetti then.

Do go TA, do take photos and do share with your friends and the world. It is indeed something very special and it should now already be part of a place that everyone should have their photos taken with.

Oh yeah, second part about TA is the chee cheong fun. It’s nothing like those of Penang, or those of Ipoh or even those of whichever town saying their’s the best etc. Let me tell you a story about TA’s chee cheong fun.  I have a group of Penang friends who as usual tell the world that their chee cheong fun is second to none. Fine. They went to TA after breakfast. I told them that I have bought some chee cheong fun. All of them said, ‘we are full, but since you asked, ok, maybe three of us share one pack.’. In the end, each and everyone of them finished one pack by themselves.  Second story, one group of Penangites who just finished their 8 course dinner were on the way back to Penang, from TA. One of them said, ‘my TA friend said this chee cheong fun is a must-eat.’. They look at each other in disbelief and said, ‘ok, let’s try one by sharing.’. In the end, 5 of them finished 5 packs. I shall say no further. Please do try. No.1 is by Liew Kee but available only from 7pm and no. 2 is Sam Siu Yeh. Just google online.

Are these two reasons enough? For food,just google for Teluk Intan food. You will be amazed that all these food varieties are available and you can actually do a eat till you drop trip to Teluk Intan. You can also visit the town and take very nice photos as it has lots of those colonial style buildings too. Happy visiting TA or Teluk Intan.

written on 1 March 2015

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When tenants need a place and the market is hot. Remember yeah, when Covid-19 becomes endemic, the market will still return to norm. Graduates will still be working in bigger cities. They will be moving in from smaller towns. Maybe now would not not be the best time to move into a new job in the Klang Valley since the number of cases may be quite scary to many.

When the economy starts growing and people start moving into bigger cities to take up jobs, then the demand for rooms and homes increase. People from outside the state, definitely need a place to stay. Thus, some may opt for a room, like what I did when I first started to work in Penang in 1998.

Some may prefer more privacy and thus they may rent one whole house. This was what I did in year 2000 after my wife moved to Penang too. This is what propelling the property market. The ever increasing demand for rooms and homes.

It’s happening in American and it seems that many of these tenants are desperate and thus the home owners are taking advantage of this demand too.

Article in nst.com.my
  The federal eviction moratorium ended last week. Some landlords may throw tenants out. Demand is so strong it won’t be hard to find a new tenant who’s willing to pay a higher rent.

Jay Parsons, deputy chief economist for RealPage said, “We’re seeing record low vacancy. Wages are up, people have the money. And people are saying take my money, I want to move in.”

The rental market is getting flooded with Americans searching for apartments. The economy is revving up, and young people ready to leave their parents’ homes are competing with others who delayed moves because of Covid-19. At the same time, remote work is enabling families to relocate to more-affordable areas, and vaccines have made seniors comfortable again with downsizing. Please do real the full article here. More information.
Article in nst.com.my

I know, it’s not the same in Malaysia

Here, many landlords are asked to reduce rental or else… I said many because it’s definitely not all. Just need to remember that there is no need to pushed the landlords to the edge yeah. Property market is always a cycle and the same situation in the U.S. may still happen here, even if not immediately.

As for the long term, rental will slowly inch up and soon, the landlords will have the upperhand again because the price they bought was many years ago. The rental they get is many years later. So, it’s possible they could hold even when renting lower and then as soon as the market turns, they could do what the landlords in the U.S. did as per the article above. Thanks for listening.

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f you buy the 2nd property, you are an investor, agree?

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Tesco is now Lotuss. Have you visited one yet?

Tesco is now Lotuss.

Supermarket / hypermarket business is not an easy business. It needs to be located in an area which is central enough. It needs a lot of car parks because no one buys groceries and carries bags and bags and then take the MRT. It must have lots of choices, from the most affordable to the ones with the best ingredients and thus highest price. It must have lots of brands, especially the ones we could not find in other supermarkets too. It must have lots of promotions and well, never ending promotions. Here’s one from Tesco Malaysia. (current name)

Competition is super strong

This is why the scene is a continuously changing one. New competitors come up and try to take away business from current ones. Merger and Acquisitions happen all the time. This was the earlier article:
Tesco is sold and leaving Asia
. Fast forward to recently, this is what was written in
Tesco Malaysia’s Facebook profile page:

“Lotuss Stores Malaysia Sdn. Bhd. (Registration No. 200001018812 (521419-K)) (formerly known as Tesco Stores (Malaysia) Sdn. Bhd.) is a member of the Charoen Pokphand Group Co., Ltd (C.P. Group) since December 2020. The C.P. Group is a multinational conglomerate, operating across various industries ranging from agricultural, industrial to service sectors. C.P. Group currently has investments in 21 countries and economies.Having acquired Tesco Malaysia’s business in December 2020, Lotus’s Malaysia has now assumed the operations of all existing Tesco stores, employing over 8,600 employees across one head office, two distribution centres, and 62 stores throughout Peninsular Malaysia. It also has Malaysia’s most extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan, and Ipoh. Lotus’s Malaysia expects to complete its rebranding exercise by end 2021.”

I have yet to visit any Lotuss Stores here in Malaysia eventhough it is my favourite place to buy lots of Thai products if I am in Thailand.  Tesco meanwhile has been a supermarket which I have visited even before they arrived in Malaysia. I visited it even when during my university days in the UK. I think moving forward, we would see less of the UK products from Tesco but more of Thai products from Lotus. We will have to see how’s their arrangement as well as how popular were these items.

In any case, if UK products are more popular, it is still possible for Lotuss to source from other UK producers and not necessary be confined to just Tesco. By the way, my favourite supermarket in the
UK was not Tesco. It’s this brand called Sainsbury’s.
I once walked and shopped there at midnight too. Image below shows how they look like in that store I used to walk to in Bristol, UK. Nope, I did not hear of their plans to come to Malaysia.

Image source: Googlemap

Tesco or I mean Lotuss have also started to reassure everyone that all the Refunds or Exchanges will continue to be accepted. Clubcard points and rewards would continue. Vouchers and Coupons are as per validity dates. Tesco Online services are continuing as usual. Here’s their
Facebook page if you have yet to see all the latest announcements from them yeah. Click here.
We will only know how much changes will happen when they have fully changed. At the moment, what we see will still be all current Tesco. Happy shopping!

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Tesco Malaysia is a property development company… too.

Tesco is Britain’s largest retailer. I used to patronize one particular one in Bristol city centre 20 years ago and was happy to revisit it when it came to Malaysia in 2001. Now a report in The Edge Malaysia says that Tesco Stores (M) Sdn Bhd plans to venture into property development.
Here’s that article in EdgeProp.my
  Basic idea is to redevelop some of its larger stores. A source in the article said, “wants to maximise the value of the land it owns and is seeking a property developer to partner and jointly develop the sites”. Within the same report, it was also reported, “domestic retail trends point to a consumer preference for smaller stores.”

Tesco Malaysia CEO Paul Ritchie said, “We are always exploring ways to utilise our assets and this includes exploring opportunities to transform our stores. It is early days for us to comment further. However, we can confirm that we will continue to serve our customers in Ampang.” Another source said that any redevelopment does not mean the store will be closed. “The land is big enough to allow the existing store to operate, while development is taking place around it.” Likely project would be condominiums though not the luxury type. The Edge Malaysia also wrote, “As for the gross development value of the planned development, based on the land size of 566,280 sq ft, a plot ratio of around four and a selling price of RM700 psf for the condominiums, a back-of-the envelope GDV is RM1 billion to RM1.2 billion.”
That full article for reference in EdgeProp.my here.

Before everyone thinks that this will be a trend, let’s understand that this kind of development of new high-rise developments will only happen to companies with large tracts of land which is more than what it needs for its current business. A supermarket without any property development experience for example is not likely to go out shopping for land and embark into property development. What Tesco is currently doing is more like sharing the potential profits from the redevelopment with developers who are able to provide them with an attractive proposal. Let’s see who will be that developer who could satisfy or exceed the requirements by Tesco for the ‘extra’ land.

written on 27 Oct 2018

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Buy a Tesla or buy a micro-flat? Both similar ‘sized’

In my last trip to Hong Kong just weeks ago, I was wondering why were there so many Teslas in Hong Kong. My colleague told me that there were tax waivers for electric cars and Tesla was monopolising all the sales against all other brands. The tax waiver has ended, thus the sales for Tesla has stopped, totally. There were zero registrations of new Tesla cars since April 2017.
Here’s the news in South China Morning Post.
Among all electric cars in the market today, Tesla represents my top favourite. The car is HUGE and the design philosophy is by far better than the many odd-shaped electric cars today. It was HK$570,000 (RM312,500) with the tax waivers and now it costs HKD900,000. (RM493,400)  Ex. rate as at 18 June 2017. Before everyone says that the buyers were crazy to buy such an expensive car, let’s understand that the property prices in Hong Kong is many more times the price. In other words, comparatively, it’s not really that expensive, SIZE wise too.

A newly launched apartment starts from 161 sq ft. It’s Henderson Land Development’s Seven Victory Avenue, Kowloon city. Take a look at the image. It’s similar sized as a Tesla. Here’s the full article in
smh.com.au
 My manager asked if there’s space for a toilet. The answer is, of course. It’s a real home. Just that the size was made small enough to make it affordable. How much is affordable? It’s just US$500,000. (RM2.14 million) Small apartments (this kind of size) comprised 27 percent of all new homes launched in 2016. It is growing in popularity. As per the article, it should become 43 percent in 2018. (I wonder what’s the percentage for those affordable homes in Malaysia when compared to the overall market. Hopefully NAPIC can shed some lights in the near future)  This is the government’s opinion about ever smaller sized homes. “At this stage the government leaves flexibility to the market so that developers can respond to the needs of the market appropriately,” said Terry Wong, a government spokesman. Another full article here
 in TheStar.

Would the apartments in Malaysia become this small in the future?

Let’s just say it’s not easy to get everyone to accept this kind of size. Not for me,especially. Even when my kids are all grown up and I am staying with just my wife. Sorry lah… We are high-rise supporter but we are not small sized supporter. In Hong Kong, they have gotten used to 450 sq ft apartments for many years before these micro-apartments started. Remember, it was still very minority just a few years ago. For Malaysia, even for the KLCC area, until everyone is used to 450 sq ft homes for many years, they will not be
accepting this micro-sized homes

anytime soon. I have more friends staying further away and not more friends intending to move into the city centre. Anyway, one trend is for sure. Homes will get more expensive when land prices become ever higher. When we look at land prices within the KLCC area, it is getting ever higher. So, price will continue to squeeze the size. How soon is a question still. Happy following.

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written on 18 June 2017

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Testing water with 9,000 units? No Malaysian developers can do that, yet.

In Malaysia, developers ‘test water’ by getting buyers to pre-register their interest. Some more adventurous ones build a nice renovated unit on the site to entice buyers. However, typically, the launch to ‘test water’ would consist of jus the first tower or first block of 200 units? Imagine what happened in Iskandar when Country Garden Holdings did their ‘water testing’? Well, they launched everything they have, ONLY 9,000 units. As at today, it has been rumoured that 70% of the 9,000 units have been sold.

The REHDA Johor deputy chairman, Mr. Wong Kuen Kong has this to say about Chinese developers. They add excitement to the Johor Property Market. Besides that, these developers would bring economic benefits not only to Johor but also the country. In fact, out of the few Chinese developers which had bought land in Iskandar, one of them would be building even more units than Country Garden! Maybe even 30,000 units. He was referring to the Tanjung Puteri R&F project by Guangzhou R&F properties. One main reason why these developers have been so aggressive is because they have a buyer base from China. Many of these investors may be buying overseas for the first time in their lives and a familiar developer would ease their worry tremendously.

Personally, I think besides the Chinese buyers from China, as long as all the catalyst projects planned are implemented accordingly, the market would also be attractive to Singaporean buyers. One main reason was because even Temasek is taking a pro-active approach and has their hands in some of the developments in Iskandar. This is complemented by the fact the prices in Singapore is becoming so expensive that many of the middle income workers, whether SIngaporean or PRs in Singapore finds it so tough to buy one. The only issue though would be the long queue at the checkpoints. I think this few hours queue is worth at least RM200,000.  In other words, if the price difference is RM200,000 or below, I would still prefer to buy HDB flats instead of buying in JB. However, if the price difference is RM500,000, that changes everything. Alternatively, if the HSR and RTS comes to fruition, then it is a high possibility that the demand may increase suddenly.

Until today, I still have no properties in Iskandar. The reason is pretty clear, I do not have any more funds. Haha. Ok, once I have, will drive down to take a look. Feel the area and feel the potential personally. For now, I just ‘write’ and see.

written on 30 May 2014

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Staying, Owning and Winning; event @ enstek by TH Properties

When we are buying for our own stay, it pays to think on two things. Size and long term. Wherever possible, look at size as your first option because houses in future will definitely become smaller. In fact high-rise may be the only thing we could afford in the future. Secondly, think about long term. Good properties would always increase in price, only the question of the time needed and by how much. When we work, our family gets to enjoy staying in a comfortable environment, that’s ideal to me.

I love property shows. I love it even more when there are prominent speakers being invited to speak to the visitors. The reason is very simple. We get to know the properties we want to buy and we get to learn from these prominent speakers. The topics are related to Financial Management and Property Investment. Mr. Azizi Ali’s books were one of the first few that I read when I first started to invest in the property market. In fact, I continue to recommend it to all my friends. He will be speaking at an event by
TH Properties @ Enstek.

For those looking for a place to stay, this is a good event to drop by. View the units, understand what’s happening to the property market and perhaps win in the lucky draw for buyers of these properties. There are also shop office choices too. The other speaker is Rohaniah Noor whom I know as an author as well as a famous speaker in the local property scene. Yes, the talk is in BM even if Azizi Ali’s books are in English. Attend and ask lots of questions. Get your concerns cleared and learn. Event details as follows: (Image)

Projects are as follows:
PRODUCTS ENTITLED FOR LUCKY DRAW CONTEST (
RESIDENTIAL PRODUCTS)

1) Pearl

Type                      : 2 and 2 ½ Storey Semi Detached

Status                   : Completed

Total                    : 28 units Semi Detached and 7 units bungalow

Available            : 8 units (2 Storey Type B and 2 ½ Storey Type B2 Semi Detached )

Available Size       : 50’ x 100’

Built up              : Min 3,500 sqft – Max 4,217 sqft

No of Bedrooms : 4 + 1

No of Bathrooms : 5 + 1

Price                    : From RM 1,141,800 – RM 1,671,300

Discount              : House facing east 7%, facing west 10%

Booking fees      : RM 10,000 Only

Packages               : Subsidize SPA Legal Fees, and Memorandam of Transfer (MOT)

2.) The Villas

Type                    : 2 Storey Bungalow

Status                    : Under construction

Completion         : September 2017

Built Up                : 4,313 sqft

Total                     : 5 units

No of Bedrooms : 6

No of Bathrooms : 7

Security                : Gated & Guarded Enabled

Facilities:              : Private Swimming Pool

Price                       : RM 2,102,800 – RM 2,407,900

Booking fees         : RM 10,000 Only

3) Hundred East

Type                      : 2 Storey Superlink

Status                    : Completed

Size                        : 24’ x 75’ and 26’ x 80’

Built Up                  : 24’ x75’ (2,232 sqft) – 26’ x 80’ (2,382 sqft ) Intermediate

No of Unit            : 100

Available            : 66

No of Bedrooms   : 4

No of Bathrooms : 5

Security                 : Gated & Guarded (Free security services for 3 years)

Facilities               : Nearby School, Football fields and Playground

Price                     : From 575,400 to RM 950,600

Discount                 : 2% discount for Bumi buyers purchase Non Bumi Lots

Booking fees         : RM 3,000

Packages                 : Subsidize SPA Legal Fees, and Memorandum of Transfer (MOT)

4) Linea

Type                        : 2 Storey Superlink (corner and end units only)

Status                  : Completed

Total                      : 94 units

Available                 : 7 units

Size                          : 24’ x 80 ‘

Built up                  : 2,268 sqft

No of Bedroooms : 5

No of bathrooms : 5

Price                       : RM 767,900 – RM 1,023,500

Booking fees         : RM 3,000

Discount               : 7 % discount

Packages                : Subsidize SPA Legal Fees, and Memorandam of Transfer (MOT)

Lucky Draw Contest and RM 10,000 Rebates

1.  Purchasers all the above products are entitled to participate in Lucky Draw Contest from 1
st
 April 2017 to 30
th
 September 2017)

*Terms & Conditions:

– Open to public. Staff of Tabung Haji and TH Properties Sdn Bhd are not eligible to participate

– Sign SPA and paid 10% of purchase price

– The winners will be determined by way of balloting exercise at the date and venue to be decided later

2.  Prizes for the Lucky Draw :

1
st
 Prize
 : 1 Unit of Honda HRV including 1 year insurance, road tax

and registration fees

2
nd
 Prize
 : 1 Unit of Perodua Alza including 1 year insurance, road tax and

registration fees

3
rd
 Prize
 : Signature Kitchen Voucher (RM 30,000)

4
th
 Prize
 : IKEA Voucher (RM 20,000)

5
th
 Prize
 : IKEA Voucher (RM 14,000)

RM10,000 rebate who purchase a unit on 13
th
 May 2017

*Term & Condition apply

–      Applicable to residential unit available for sale in Bandar Enstek only i.e. Linea, Pearl, Hundred East and The Villas

Pay booking RM 3,000 for Linea and Hundred East and RM 10,000 for Pearl and The Villas

To sign the Sales and Purchase Agreement (SPA) within one month from date of booking

The rebate of RM 10,000 in the form of credit note

(Commercial)

1) Mahawangsa Shop Office

Type               : 2 & 3 Storey Shop Office

Total              : 21 units

Available         : 10 units

Status :           : Under construction

Completion     : August 2017

Size                  : 2 storeys (22’ x 80’, 24’ x 80’, 29’ x 80’ and 32’ x 80’)

: 3 storeys (22’ x 80’, 32’ x 80’, 35’ x 80’, 37 ‘x 80’, 41’ x 80’, 53’ x 80’

54’ x 80’ and 55’ x 80’)

Built up           : 3,665 sqft – 10,563 sqft

Price                 : RM 1,235,500 – RM 3,356,800

Booking Fees : RM 10,000

Packages        : Subsidize SPA Legal Fees, and Memorandam of Transfer (MOT)

2) Mercato

Type                : 2 & 3 Storey Shop Office

Total                 : 99 units

Available         : 8 units

Status              : Completed

Size                  : 2 Storey ( 24 x70) , 3 Storey (24 x70 end lot and 50 x70 corner lot)

Built up           : 3,279 sqft – 13,585 sqft

Price                : RM 916,900 – RM 3,125,100

Booking fees  : 1% from selling price

Packages         : Subsidize SPA Legal Fees, and Memorandam of Transfer (MOT)

Here’s the website that is worth visiting to read more:
http://enstek.smbmy.com

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Thailand tourism: “I’ll be back and I will earn RM191 billion in 2021”

Did you know that Bangkok has a new name? Read it here:
Let’s travel to Krung Thep Maha Nakhon. Where’s that?

Some analysts predict that tourism will only be back to pre-covid-19 days in a few years. 2022 is said to be just a very slow recovery year. Here’s that predictions:
Fitch Ratings says Asia Pacific tourism recovery will be slow.
 Of course another tourism product which Malaysia has advantage and is already leading all countries here in ASEAN would be the medical tourism.
1.2 million people travel to Malaysia just for this purpose yeah
  Recovery is definitely on the way as well.

Article in nst.com.my
  Reports in Bangkok Post said the authorities have set a goal of earning 1.5 trillion baht (RM191 billion) in 2021 once the elimination of the RT-PCR tests upon arrival and Test & Go scheme from May 2021. However, the Thailand Pass registration will remain for now with two requirements – a vaccine certificate and insurance coverage of at least US$10,000.

Phiphat Ratchakitprakarn, the tourism and sports minister, previously said the government wanted at least seven-13 million foreign arrivals this year, generating 700 billion baht. Please do read the full article here:
Article in nst.com.my

Thailand may not be joking yeah. It’s really a tourist magnet

In 2019, just Bangkok alone welcomed over 25 million tourists and this is second highest in the world for a city.
Info source: worlddata.info
 Other popular destinations in
Thailand include the following: (click here for the full article)

Source:
https://www.worlddata.info

Where’s Kuala Lumpur then for tourist arrival among the world cities?

Kuala Lumpur is not too far away and is in fact within the top 10 in the world, though it’s at number 10. Two other major cities are also within the top 100 cities most visited in the world. Kuala Lumpur is followed by Johor Bahru (no prizes guessing visitors from which country yeah) and then Penang.

If the tourists increase for Thailand, it bodes well for Malaysia too

I am super certain of this fact. If people are feeling safe enough to travel, they would feel safe enough to travel anywhere and not just Thailand. This means that if Thailand can earn that RM191 billion, surely Malaysia can earn some big numbers too. I have no idea what would our Tourism Minister be predicting for 2021. Let’s hope it’s as good as pre-Covid-19? Happy travelling. Yes, I am writing this from a desk in a hotel somewhere in Port Dickson.

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That 70% property price reduction prediction?

Before you continue reading what I personally think about the viral news about the possibility of property price falling by 70%, do read this important view from FIABCI Malaysian Chapter President Michael Geh about the property market of Malaysia:
Malaysia property market in one word? Resilient.
  Once you have finished, then do read this prediction from International Monetary Fund (IMF):
GDP 2021 Malaysia is as high as 9%
.

A reader of kopiandproperty.com wrote to me with this message and he attached that 70% property price reduction article.
 If you know Mandarin, click here then.
  Somewhere in the article was an example that a property sold for RM1 million in 2019 may drop to RM300,000 to RM400,000 in a few years. The one who predicted was also careful to mention SOME property types and he definitely is not talking about the whole property market yeah.

So, what are my thoughts? Perhaps we look at three groups of buyers shall we? If you need a home because you are currently renting and you are buying your very first home, please do due diligence. Heavy discount does not mean the property price is cheap. Do actual comparison before deciding. Get to know what were the earlier transacted prices first. Here’s one site to get to know more the price before you buy.
Buying a property with reference to transacted prices is possible
 . Also, no harm in considering the secondary market because what you see is what you get and there’s always that better negotiation power currently.

If you already have a few properties which you are struggling to rent out today, be realistic. Even assuming property prices do fall, please think twice, maybe thrice before even deciding to buy okay. No one can predict how long this COVID-19 pandemic is going to be because truth is, there are no vaccines yet and the number of infections continue to rise by over one hundred thousand new cases every day…  The only positive may be that the worst countries seem to show a slowing trend of new infections. Plus some countries have started reopening their lockdowns too.
Some countries have started their reopening

If you have some spare cash but has still not found that property to buy, do not just save that money and do nothing simply because you want to wait for SOME property type which will reduce in price by 70% in a FEW YEARS’ time. If not property, perhaps one of the blue chip stocks where worse case scenario, you get dividends higher than the FD rate?  Frankly, the FD rate is more likely to be going down slightly lower yeah. It is part of the monetary policy to help the economy.

So, there you have it, if you are within these 3 groups, here are my thoughts for you even after reading that ‘terrible’ news article. Yes, I will still be buying property after the MCO but I need to view it first yeah, definitely will not be buying any property by looking at some online videos… Happy understanding.

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That competitive business called hypermarkets. Another one sold and leaving Asia.

I love to shop in Hero Market. Somehow it has the choices I need and the prices I could accept. AEON supermarket is also okay but not my favourite. I have not been to any Giant hypermarket for many months. When it comes to Tesco, I will always have a soft spot because I shopped there way earlier (when I was still studying in the UK) and years before it decided to open here in Malaysia. Well, latest news is that Tesco Malaysia and Thailand will be sold to Charoen Pokphand Group for an enterprise value of US$10.6 billion.

Article on the sale in edgeprop.my here.
 According to Reuters, after the sale, Tesco will return US$6.6 billion (RM27.8 billion) to shareholders after the sale.  This will be via a special dividend with an associated share consolidation. The deal is conditional upon the approval of its shareholdersand regulatory approvals in Thailand and Malaysia which is expected in the second half of 2020.

The sale is to the Thai group controlled by Dhanin Chearavanont.  Once this sale goes through, Tesco’s overseas operations apart from Ireland would be its central European division, consisting of stores in the Czech Republic, Hungary, Poland and Slovakia. Tesco chief executive Dave Lewis said, “This sale releases material value and allows us to further simplify and focus the business, as well as to return significant value to shareholders.”
Article on the sale in edgeprop.my here.

Which supermarket / hypermarket is your favourite brand?  Which comes first? Convenience? Choices? Prices? Or just the layout? By the way, for those who are unaware, the profit margins of supermarkets are low. Could be a low single digit yeah. Their only advantage is that it will sell a large quantity of all these items to many people everyday. On many occasions, some items may be offered as a loss leader (means every sale is a loss) but when people drop by to buy that item, they may also buy a few other items which will make up for the loss.

Do I think the brand would remain after the sale is concluded? I guess the brand could remain since everyone knows Tesco or it could even be a full rebranding for all its stores? The buyer is a seasoned supermarket operator in Thailand yeah.  Happy shopping.

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That ‘extra’ feel good factor in Ipoh by Ernest Zacharevic

That ‘extra’ feel good factor just got an extra push in Ipoh thanks to the famous wall painter, Ernest Zacharevic. He did not paint just one or two but Seven new pieces in Ipoh city. Okay, first of all this adds nothing to the price of property nearby or even the one which he painted on. However, always understand that ‘feel good’ factor is something in the mind and these pieces would attract flocks of picture takers, all with their own special way. What all these does for Ipoh is this. 100 people shared these photos in their Facebook, 1,000 people saw it and half went to take the pictures themselves. What happens next is Ipoh city becomes much more talked about rather than just the usual dry curry mee or the white coffee topics. In my next trip home, I will bring my baby daughter along, that’s for sure. Enjoy:

Sometimes though I wonder, why don’t we give a few walls to each of the Art colleges in Ipoh for their contribution to Ipoh? Is it because we fear that they may not be good enough? Seriously, the paintings by Ernest really reflects the charms of the culture, of the people in Ipoh. The question in my mind is therefore, shouldn’t locals know as well as him or better? Perhaps even invite him to be a judge as to which of the wall paintings done by these students best reflect the message about what the community or the culture in Ipoh has to offer?

Thank you Ernest, from the bottom of my heart. Please come again. Perhaps the next painting may just be the food diversity in Ipoh which many have overlooked simply because many of the international critics have no easy way to travel to a city called Ipoh.

written on 28 June 2014

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That very important base for Effective Selling:  Features vs Benefits

Selling is a fundamental skill everyone needs. Whether it’s a startup CEO pitching to investors or a real estate agent selling a property or even a head of department telling his team about his product vision. Yes, even a Finance Manager will need to sell benefits of his proposed new accounting system to the management and not just the features.

However, most of the time, we sell the FEATURES instead of the BENEFITS. If we are stuck at the features, every product and service looks similar and thus it comes down to a pricing decision. As a consumer, do we decide whether to buy only because of price?

As a service provider, do we really want to compete only on price? Come and learn the main differences between a feature and a benefit and how to maximize the potential of selling a product, service and even a vision. While selling is a huge topic including even Objection Handling, this time we will look at the basics. Features vs Benefits.

I am honoured to be invited by MATA, a CIDB training provider
 who has good experience in organizing online webinars. Just within this MCO period, they have already organised more than 40 webinars.
The Host is Infra Design Sdn Bhd. They have over 18 years of experience and help customers maximise value and drive growth through effective implementation of Marketing Technology (MarTech)

Event Details as follow:

Topic: Selling Effectively – Features vs Benefits
Date: 9th May (Saturday)
Time: 3:00pm – 3:30pm
Venue:
http://www.zoom.us
Register now:
https://bit.ly/ID-Zoom6

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The 2 in 1 solution to too many malls and too expensive homes?

As they say, there’s just too many malls? Some say online shopping will kill most of these malls. I disagree and my recent article here:
Online shopping will not kill malls. Better malls will kill the uncompetitive ones
  Now, before we talk about the potential solution, here’s another problem. Many people say homes are too expensive. Of course they are not just talking about the price, they are also saying to everyone that they could not save enough
down-payment for the unit. (so many things to buy!) (click for earlier article)

How about we look at one potential solution to both then? Killing two birds with one stone. Someone turned a mall into residential units and rent them out just like a usual retail lot instead and hey, there’s even a waiting list for it! Image of that mall is as below. If it looks slightly less modern / comtemporary, it’s because it was the first mall in United States.
Westminster Arcade in Providence, Rhode Islands.

Article in countryliving.com
  The Westminster Arcade opened in 1892 and it introduced the  English-style indoor shopping experience to the United States. It has not been doing well in recent years. It undergone a renovation but it eventually closed its doors in 2008 due to economic reasons.

It was however not demolished because the developers decided to conver the top two floors into micro-apartments. There are 38 units and the sizes range from 225 – 300 sq ft. It’s designed with young professionals in mind. It says that these young professionals will not mind living in such cramped quarters. Rental starts from just S$550 per month and there is even a waiting list of those eager to move into these ‘cozy’ spaces. Do read the full
Article in countryliving.com

Okay, there’s less than 50 units of micro-sized units on offer. (To me, anything below 350 sq ft is considered micro-sized.  Anything less than 550 is mini-units.) The rental is also US$550. To make it similar, then the rental should also be around RM550. So, mall owners, any takers for this?  In my mind, I could already imagine a few malls with this potential. Haha.  Not the popular ones lah, the unknown and unpopular ones, where more of the retail shops are not open or about to close.

Actually, if you ask me, I would prefer to stay at a place where there are more units than just less than 50 units. Preferably mostly occupied please. If I have gotten keys to my unit and the whole corridor of 12 units are all empty units except my unit, I will not dare to move in yeah. Emotionally, I don’t feel cozy at all.

So, for this concept to work here in Malaysia, price and location will matter tremendously. I know, we already have those residential units on top of malls. However, I do not know of any of these residential projects with micro-sized units and renting out at RM550 yeah. So, question. Will you be staying? Happy thinking about it before deciding.

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The 500th Article Milestone. :)

Actually, no one doubted me. None of my friends said that I would stop writing after a while. However, one close friend did say, ‘How to find so many things to write?’ Haha. Kopiandproperty.com reached the amazing 500
th
 Article Milestone – 284 days after the first one. A very grateful thank you to anyone who has read at least one article and have forwarded at least to one friend. You helped to give me continuous motivation.

Appreciated all the criticisms too ranging from the English that I use, to the way that I write, to the fact that I am not publishing enough articles or even my refusal to be drawn into an argument about which country is better etc. Thanks for the diversity. Haha. Ok, some other milestones as below just so that I remember this for years to come. The day was 7th September 2014.

0 (Zero) number of Online Banners in kopiandproperty.com

1 Part-Time writer. That’s me.

2% of all articles in kopiandproperty.com were from contributors.

2.5 is the average comments per article thus far.

4 is the average sharing / forwarding per article (conservatively estimated)

20 is the average number of new subscribers per month

500 Articles posted, an average of 1.76 articles per day. (Down slightly from 1.88 first few months).

981 is the average visits per day to kopiandproperty.com

Will write more and continuously.

Best regards.

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The 6Cs for JRK Convena

The 6Cs for JRK Convena

[Paid Review] Every time someone tells me about Transit Oriented Development aka as TOD, I would smile. I told them that both my wife and I are not really public transport users. She prefers to send the kids to school by driving because it’s very close to our home and taking the public transport may be even more inconvenient. Just need to remember this though, TODs are a necessity in many advanced countries.

I explain very briefly why this will be so in future if not yet happening today.

How many cars could a city absorb? (no matter how big the city is…)

Can a city continue to absorb more cars every year? In Malaysia specifically, that’s easily 300,000 new cars just within the Klang Valley yearly? (Malaysians buy over 600,000 new cars yearly. I assume half of it would be within the Klang Valley)  Total active cars in the whole Malaysia is estimated to be 20 million cars and let’s just put half of it within the Klang Valley and that’s 10 million cars plus 300,000 new cars yearly…

The city council will be forced to do something about it

When congestion comes to boiling point, the next step is to reduce it. For example, fees will be levied for drivers who drive into the city. Tolls lah, just look at the country down south to know what may come. Wrong turning inside the city centre? Get charged. Another wrong turn? Another charge. 😊

Parking fees will be increased because space is going to be limited. It’s just a question of demand and supply. The more demand and the lower the supply, the higher the price. Basic economics yeah. In fact, it can be so high that when we drive, a double digit portion of our salary is given to the parking operator every month.

And more…..

It would not happen so soon yeah

I also hope that it would happen so soon. So, perhaps it can just be another thing we need to balance when we buy our next property too. That convenience of having a public transport station nearby is certainly a fixed deposit for the future. (Low returns but over time is still a big amount of money and it’s a never ending thing yeah)

Do not buy JRK Convena simply because it is a TOD

JRK Convena is a Transit-Oriented-Development (TOD).  However, let’s look at it from a wider angle yeah. Buying a project because of one reason is not too clever even if the TOD is right above a station or right next to it. I suggest looking at the 6Cs as follows.

#1 – Comfortable to own

As someone who has purchased from both new and secondary markets and also owning high-rise units in 6 cities and towns in Malaysia, I have learnt that when it comes to renovation, it takes a lot of time and effort and may cause a lot of stress too. I think JRK Convena knows this as well and thus some of the units will be semi-furnished with air-conditioners, kitchen cabinet with hood and hob and wardrobe by Signature Kitchen.

Beyond this comfort, JRK Convena is also a low-density development too. There are just a total of 332 units. Buyer also get to enjoy more than 25 facilities which are available to all buyers too.

Photo courtesy of JRK Convena

#2 – Confirmed yours forever (if you like)

Freehold property is where the buyer owns the land which the property is built on. Leasehold property is a property which was build on a leased land. The owner can occupy the property as long as the lease is still valid. Usually the lease is 99 years. Freehold is thus forever. Freehold properties are usually more sought after than leasehold ones. JRK Convena has a freehold status.

Usually any transactions involving a freehold property would take a much shorter time versus leasehold properties too. So this can be something useful in the future when one intends to sell the property and go for their next dream home. Remember, our dream home will continue changing and we must not be waiting for the perfect property because it does not exist.

Photo courtesy of JRK Convena

#3 – Commuting ease.

If we have access to just one LRT station, in this case the Muhibbah LRT Station (LRT Sri Petaling Line), we have access to anywhere we want to go. Whether it’s to PJ, KL city centre and all the way to even the KLIA. There are no traffic jams when we are riding in an LRT train. I think we would have also noticed that every new office building or new malls that has been completed for the past few years or the ones which are being built are all connected to some stations. Great news. You have access to all of them and the future ones too.

#4 – Convenience is beyond just malls

When we buy into a neighbourhood which is already matured, we will get many convenience which we could not from newer neighbourhoods. These include malls like The Pavillion Bukit Jalil, supermarkets for our groceries, relaxing places like the Bukit Jalil park and even golf courses to de-stress after many days of working hard. These include the Bukit Jalil golf course and the Kinrara golf course.

For owners with children, schools are important and Bukit Jalil is a matured neighbourhood. One does not need to wait for that school to be built. Choices include primary schools to secondary schools and even international schools. For parents preferring their children to be enrolled in SJK ©, there are also 2 nearby too.

Last but not least would be private hospitals too. I hope we do not go there too often but it’s a short drive away when we need one.

Photo courtesy of JRK Convena

#5 – Connectivity diversity

I am not about to give up driving in the near future and I also hope you are not as well. Not so soon anyway. Just look at the country where everyone says ‘wah so well connected…’ Tell me then why do people still bid like crazy just to get that opportunity to buy a car then?

When we buy a property, check out the expressways which is easily accessible to you. For JRK Convena buyers, here are they: (just need to look for ‘expressway’ and ‘lebuhraya’ word in the image below and you will realize that it’s a pretty well connected place.

#6 – Couples and young executives too

The sizes are friendly to couples and even to couples expecting to have a small family too. If we look at just the size, even young executives may find the size to be suitable too. JRK Convena offers the appropriately sized units and friendly layouts too. By the way, when it comes to high-rise, layouts are important. The first impression should be that the unit looks spacious, practical and functional and if we take a look at the videos of JRK Convena, I think we can see that as well.

Conclusion:

Buying a property is not a short-term decision. Just need to know that with the ever increasing population and the never ending inflation, a property will always be a good hedge against inflation. This has been demonstrated in the pricing for all types of properties in Malaysia as per NAPIC’s data below:

                                                                                Source: NAPIC

Happy deciding and all the best whether this is your first dream home or an upgrade.

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The ‘Accessibility’ Popularity

Generally, everyone tends to agree that the upcoming MRT will bring real connectivity to the masses. Thus, it cannot be wrong to buy next to, nearby or very near to a MRT station. Even the usual talks during fairs would tell you that buying near MRT cannot be a wrong decision. Developers are also advertising about their distance or duration away from a nearby MRT station. Some even offer the last mile connectivity! Yes, they build a connection from their project to the MRT station.  I agree, buying nearby a MRT station is much better than buying in places where there are no MRT stations. However, the most important question everyone must keep in mind is this. Are the prices that I am buying is simply because of MRT or are there also other supporting factors? Am I too overwhelmed by the ‘Accessibility’ popularity?

I work in the city centre. I stay in Damansara Damai. Naturally the nearest would be the Sungai Buloh station. There’s also KTM station in both Sungai Buloh and Kepong. NKVE is nearby too. I think my place is pretty ‘accessible’, right? It takes me less time to travel from Damansara Damai to my office versus Kelana Jaya previously despite the fact that Kelana Jaya is 1.5km nearer. It takes me less time to arrive in office even when compared to some colleagues staying in Cheras. I paid only RM320 psf for my huge condo over one year ago. Today, when you buy ‘accessibility’, it’s easily double the price that I paid for my condo earlier. Are the prices much higher because it’s really expensive to build today or because the developers just want to build on the ‘accessibility’ popularity factor? There’s no need for an answer. The decision is yours.

What I wanted to reiterate is this. Everyone knows Herd Mentality is bad in stock market, right? It means you simply buy because everyone is buying. Always remember, ‘accessibility’ popularity can also be a disguised herd mentality. Especially when you believe that when you buy at RM800psf today, it will be RM1,000psf few years later. After all, how can MRT be wrong, right? Haha. Be reminded that this MRT accessibility will always be thumped by affordability. Affordability would determine ‘how risky’ is your investment. Yes, it’s true that prices of properties would continue to rise over the years. However, it is also true that the current low number of new transactions is not due to NO demand. It’s due to low demand caused by affordability. During these times, not even ‘accessibility’ popularity for MRT can give you an assurance of investment safety.

There are lots of other reasons why a certain condo should be worth at a premium compared to its peers. These reasons, when added together is also worth more than the ‘Accessibility’ popularity which is so popularly bandied by everyone in the whole industry today. Buy? Of course! But buy way too expensively? All the best to you. Happy thinking.

written on 15 Jan 2015

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Press Release:
The ARENA where family dreams take flight

Choice houses in Seremban 2 make a strong statement with 81% take up rate

As urbanisation continues its inexorable yet rapid growth in cities, families are beginning to realise the challenges of finding the ideal home for their growing members. Family-oriented home buyers are increasingly looking towards Seremban, Negeri Sembilan, where promising tracts of land hold many attractive property developments. Market-savvy house buyers who have their hands on the pulse of the property market have cast their sights on Seremban 2.

The township by master developer IJM Land is a confluence of activity, job opportunities, amenities and many other aspects, all coming harmoniously together to form a holistic living ecosystem.

Without a doubt, this is a strong indication of Seremban 2 as a prime hotspot, and alongside this knowledge, the awareness that home buyers simply cannot go wrong if they were to find their home there.

Following the overwhelming response for their commercial development, IKON @ Centrio, Seremban 2 by IJM Land is set for prominence with the launch of ARENA.

ARENA, the newest gem in Seremban 2

Being the latest development, ARENA is here to address the concerns of growing families. ARENA presides over 8 acres of land, registering a gross development value (GDV) of RM78m, with a target completion date of Oct 2024. This low-density development comprises 96 units of two-storey link homes. Its name evokes a sense of spaciousness, with a built-up area ranging from 2,381 to 2,733 sq ft.

Utilising an open plan layout, the unit seamlessly connects the living room, dining area as well as the kitchen, allowing residents more flexibility as they get about with their life. ARENA is the epitome of space planning, as seen through the careful designation of living areas and their respective functions.

The common living area has been separated from the private space to increase privacy, and a home office concept has also been implemented to accommodate the work from home environment.

Towards the common space, the open plan layout removes any inhibition or obstacle, making interaction and visual contact easy.

Since the place is wide open, this enhances the thermal comfort of the house, at the same time providing sufficient natural lighting and ventilation that is bound to promote liveability. Outside, the facade follows a slim and minimalist framing concept.

ARENA provides the optimal size for upgraders or any contemporary growing family with playful, active children frolicking around, exploring the wonders of life. The name ARENA relates to a scene of activities, where families and communities bond together in a magical place.

With the many amenities and outdoor spaces, ARENA was created for happy childhoods. Take a small step outside and be enthralled by the adventure that awaits you, whether it be the nearby shopping mall, playground or an idyllic walk by the City Park, a generous 15-acres green space that showcases nature’s grace.

Either that or residents can check out the 30 acres Hill Park, which features a mini dinosaur-themed playing area that is ideal for children. Families can enjoy quality time there with all the enriching community activities, such as kite flying, basketball, a healthy jog among the lanes or a quiet, reflective moment at the sitting places strategically interspersed around the area.

The elderly can further improve their vigour through Tai Chi in the verdant fields. Then there is a vast four-acre lake, forming the park’s nucleus, its calm expanse serving as a sublime treat for the eyes.

A harmony of tech and good old practices

Back to the aspect of space, the 2-storey link homes of ARENA come with 4 bedrooms and 3 bathrooms.

Units feature 5 feet of extra land at the back, an extension that allows residents to cultivate their very own private garden. On the other hand, the corner unit and end unit comes with additional side land, from 9 to 50 feet in area.

The added space makes ARENA an attractive buy for upgraders. Unlike most link homes, ARENA diversifies by having the car porches completely covered, protecting vehicles from the eroding effects of rain and sunshine.

Also, note that tiles layer the ground from the car porch until the driveway. The windows and sliding doors are fitted in powder-coated frames to exude a sense of luxury. Where families are concerned, safety is a factor of paramount importance.

From a macro perspective, ARENA is a guarded community, further enhanced by perimeter fencing and 24 hours security. Zoom into the homes where smart digital locks protect the entrance.

Then there is the three-phase power supply in place to provide a higher supply of electricity.

Water pumps have also been integrated to ensure the consistency of water pressure throughout the home.

“Growing families and upgraders are finding it increasingly difficult to get a home huge enough to accommodate their many needs. This is especially true in Kuala Lumpur. ARENA is a simple but decisive solution to such a complex problem. Even during the designing and planning stage, we already envisioned ARENA as more than just a residential development, but a complete and elaborate ecosystem made to raise and nourish families, big or small,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM Land.

At the centre of everything

Any development that lies within the meticulously planned township of Seremban 2 is bound to prosper. Where connectivity is considered, the township provides easy access to the North-South Highway, ELITE and LEKAS, not forgetting the toll-free road linking to KLIA and KLIA 2.

As for ARENA, it nestles among nature and a mature neighbourhood, allowing residents to alternate between revelling in a tranquil atmosphere or enjoying the numerous pleasantries of contemporary living.

Shopping centres such as AEON, Mydin Mall, NSK Trade City, Lotus’s Hypermarket and Palm Mall are but a stone’s throw away. Quality education is provided by the seven public schools within proximity, and there is also the Zenith International School.

Families will also be interested to know that medical facilities are nearby, like the SEHAT Healthcare Centre, Columbia Asia Hospital and KPJ Seremban Specialist Hospital. At ARENA, home is a place of balance. It is the ideal abode for those who cherish nature, community and the unparalleled joy of convenience where everything is within reach.

For more information on ARENA, please visit
here
 or call 1800 222 456.

-End-

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The Banjaran Hotsprings, Ipoh. Winner of The Edge – PAM Green Excellence Award

The Banjaran Hotsprings by Sunway Berhad is the winner in the recent The Edge-PAM Green Excellence category. Not only did they win this but they were also named the No.1 top property developer at the annual The Edge Top Property Developer’s Award as well as having Rymba Hills winning an honorary mention in the same category as The Banjaran Hotsprings. It also won the Best in Qualitative Attributes Award 2014.

I do not normally report on award winners. The reason is because it would have been reported by around 999 other websites already. However, if the award has something to do with me or one that I myself love, then I will report it, if I know about it. Whenever my friends asked me about The Banjaran Hotsprings, this is my usual reply. If you want just massage and relaxation, any spa in KL may be good enough. Maybe not the back alley ones but you do not really need to go far. However, if you want a spa by a major developer in a real natural environment over two hundred million years old, away from the hustle and bustle of the typical city and yet close enough to a city which offers you everything else including awesome food diversity and the best snow beer that I know, then there’s just one place that I recommend. The Banjaran Hotsprings, Ipoh. Fresh breath of air amidst an exceptional service is definitely an unforgettable experience.

Their next question is always, ‘Wow, that’s really awesome. You have been there?’ My answer is No. Not so much about the price but more on the fact that to relax, I prefer 4 games of squash followed by a dip in the pool. After that, a cup of unsweetened Ceylon tea or freshly brewed coffee, preferably at a nice café and then Japanese restaurant. That to me is more relaxing than to be touched, oops, I mean massaged. My wife loves spa and body massage but I do not. So, I will just pay and she can enjoy. Oh yeah, we have never been to The Banjaran Hotsprings until today. However, at least 3 or 4 of my friends have been and all returned with great comments. Some have been more than once. We have however been to the ones in Bali before and if I remember correctly, also the one in Phuket.

Some description on the award winner. The Banjaran Hotsprings Retreat is nestled in a 16.59-acre valley, cradled by 260 million-year old limestone hills, verdant rainforest, rejuvenating geothermal hot springs, natural caves and cascading waterfalls. It has 25 Garden and Water villas, a pampering Spa and Wellness Centre and a host of retreat experiences, located at the northern state of Perak – a mere 15 minutes drive from Ipoh city and 2 hours drive from Kuala Lumpur.

Happy SPAing.

written on 20 Oct 2014

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Buying Iskandar, Sunway, Citrine, RM800psf

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The Bank Moratorium: Why You Must Have It (with illustration)

The article is
written by Ikhram Merican
, someone who could write better than me. He writes in his own blog call
livingspace.com.my.
I love all these writers who could evoke emotion as well with their story-telling way of explaining. My articles are usually very direct and very to the point. Haha. This is another perspective on moratorium.

In fact there are reasons why one should go for it even if one is not in financial distress. While the article was written during the first moratorium, I have read it again and feel that it has lots of good points. Whether you take up or not take up, knowing more about options is always a good thing.

— article by Ikhram Merican from his blog,
livingspace.com.my
 —

Updated: Apr 6, 2020

You’ve read it in the news, and social media has been abuzz with it.

You have been given a 6-month bank moratorium beginning 1st April 2020.

If you had any doubt, it was swept away when you received a text message or email from your bank confirming that they will not be taking any payments from you between 1st April to 31st September.

You’re delighted.

Global uncertainty in the face of Covid-19 has had you on the edge. You’re restricted at home. Your office is closed. Many people have lost their jobs or are taking pay cuts.

Businesses are drowning.

Not having to pay your loans for 6 months is certainly a relief. Hell, it’s the best news you’ve heard all year.

But wait a minute…

Is there a catch? It seems too good to be true.

What’s this about accrued interest during the moratorium? There’s talk that you may have to pay compounding interest.

Commentaries on social media are divided with some saying the moratorium is good for you and others saying it is the most expensive holiday you’ll be paying for.

You’re a little confused now. Is this moratorium good for you or not?

To make sense of all this, you must look at the bank moratorium with mathematical logic. As Sherlock Holmes would say,

“Crime (or in our case, opinion) is common. Logic is rare. Therefore it is upon the logic rather than upon the crime (or opinion) that you should dwell”

So, bring out your looking glasses. Let’s take a closer look at the logic behind this moratorium.

What’s a Moratorium in Banking?

We should start with clarity. Let’s look at the word “moratorium” first.

Bank Moratorium Definition

According to the Merrian-Webster dictionary, a moratorium is “a legally authorized period of delay in the
performance
 of a legal obligation or the payment of a debt.”

Simply put, it is the suspension of an activity.

Bank moratoriums are more common than you may think.

Education loans for example, usually come with a moratorium. The student who takes the loan is not required to make any payments until she graduates and starts working.

Thus, the moratorium period of an education loan depends on the length of study.

Is Interest Charged During a Moratorium?

Interest is often accrued during the moratorium.

In the example of the education loan, interest would be calculated on the amount disbursed and added to the principal loan amount.

When the student finally starts working, her interest would be calculated on the total amount (principal + accrued interest).

In this instance, interest is paid upon interest accrued during the moratorium. This compounding effect causes the student to pay more in interest.

So a moratorium is not a cost-free holiday. There is an interest cost.

But is there any benefit to you, in spite of this interest cost? Let’s go deeper down the rabbit hole.

The Bank Moratorium in Malaysia: Why?

Let’s be clear. The banks were not eager to give you a moratorium. Suspending payments for 6-months would put a serious dent in their cash flow.

Bank Negara Malaysia (BNM) imposed this on all banks. For good reason.

The world is facing an economic crisis with no precedence. The global shutdown caused by Covid-19 is sending shockwaves through the economy.

Almost all businesses in Malaysia have shut down. The retail market is suffocating. The tourism industry is crippled. People are going to lose their jobs or incomes.

In a country where a third of its people live paycheck to paycheck, this is alarming. A mass default in loans can trigger the collapse of our financial system.

BNM made a smart pre-emptive move.

The 6-month moratorium was implemented with surgical skill.

Before announcing the moratorium, BNM lowered the statutory reserve requirement from 3% to 2%. Banks now needed to keep less reserves and could lend out more money. RM30 billion more to be exact.

Not only can banks profit from this but liquidity in the market has increased.

Prior to this, the OPR was also reduced. Twice.

A reduction in the OPR results in lower interest rates.

The resulting effect is more money in the market, and the cost of borrowing is cheaper.

Here’s the thing about the economy. It’s about what people do. It’s the everyday transactions that all of us make. All these transactions are interconnected.

Therefore, if demand for goods and services drop significantly, a recession is triggered.

How do you keep demand from free-falling? Give people more disposable income. Enter the moratorium.

This 6-month moratorium is a lifeline to the economy and a stroke of genius.

Ok, but what is this moratorium going to cost you?

Moratorium Interest Calculation

Let’s look at an example.

Let’s say you have a mortgage of RM500,000 with the 1st repayment commencing on 1st April 2020 (the start of the moratorium). The loan is payable over a period of 30 years at an interest rate of 4%.

Your monthly repayment is RM2,387.

With the 6-month moratorium your payment commencement is deferred to 1st October 2020.

Interest accrues during the moratorium.

Therefore, at the end of the moratorium, you will owe RM10,000 in interest.

Now, if interest was not compounded during the payment period, your new monthly repayment amount would be RM2,415. An increase of RM28.

But if interest payments were compounded, your monthly payment would be RM2,435. A further increase of RM20.

For clarity, let’s look at the additional interest in total:

No compounding – RM10,000
With compounding – RM17,200

Whether interest is compounded or not, you pay more in interest with the moratorium. Fortunately, most banks in Malaysia have said they will not compound interest.

Your mortgage variables may be different from the example above, but keep in mind that exactly how much you pay in additional interest will depend on 2 things:

Whether interest is compounded or not
The number of repayments left on your mortgage

Before you roll your eyes up and write-off this moratorium, consider the next question.

What is the Real Cost of the Moratorium to You (and Should You Opt Out of It)?

On the surface, this moratorium is expensive.

Using the example above if you don’t have to pay your bank RM2,387 for 6 months, you’d have an additional RM14,322 in cash.

Assuming interest is not compounded, this extra cash is coming at a cost of RM10,000.

A whopping 70% of the additional cash.

Some therefore argue that the additional cash comes at too high a price.

But let’s put this in perspective.

Do you know how much you’d have actually paid for the RM500,000 house at the end of the 30-year mortgage period? Take a guess…

You’d have paid nearly RM860,000. (Was your guess close?)

That’s RM360,000 or 58% cost.

There’s more to this though.

The cost of a mortgage may seem high but because

you’re paying it over a long period of time, and
you build equity as the value of the house appreciates

the cost isn’t as exorbitant as it seems.

Money devalues over time because of inflation. At an inflation rate of 3% over 30 years, RM10,000 then is only RM4,120 now.

If your house averages an appreciation of 4% over a 30-year period, the equity built on the house wipes out the interest cost.

Now here’s where it gets interesting.

If you’re staying in your house, the absolute cost to you is minimal.

But if you have a tenant in your house, there is no cost to you. This moratorium is the best thing that could happen to you.

Why?

I’ve always maintained that a mortgage for a buy-to-let property is often an interest-free loan. That’s because your tenant is paying the interest cost.

Let’s use the same example we’ve been using above.

Over a 30-year period, your total interest is RM360,000. This is an average of RM1,000 per month in interest.

If your tenant is paying you RM2,000 per month, your interest cost is more than covered. That essentially means you have an interest-free mortgage.

Under these circumstances, a moratorium is fabulous!

But I’m really rich and I don’t need a moratorium you say?

How about this. Take the RM14,322 in additional cash and put it in an ETF like the S&P 500. The average return from the S&P 500 since its inception in 1926 to 2018 has averaged more than 10%.

This rate of return when compounded outweighs the interest cost.

You’d be losing money if you opt out of the moratorium.

How Do You Handle Tenants Asking for Discounts?

Let’s be amoral first and look at this purely from a contractual standpoint.

You’re not obliged to give a discount.

You have a tenancy agreement and there is no mention of a moratorium in it. Rent is due on a specified day of every month unless there are extenuating circumstances provided for in the contract i.e the property is burned to the ground.

You can therefore say no to any request for a discount and that’s the end of the matter.

Now let’s look at it from an equitable standpoint.

Giving a moratorium or discount to your tenant will not make you worse off.

Let’s go back to our example above.

You’re paying RM2,387 in monthly installments and collecting RM2,000 in rent. Thus far you’ve had to pay an additional RM387 to your bank.

Now, you don’t have to pay your bank for 6-months. If you give a 6-month moratorium to your tenant, your net position is still better by RM387.

But what about the RM10,000 in accrued interest? Well, after the 6-month moratorium, your current tenant and future tenants will be paying it for you. Your real interest cost as long as you have tenants is zero. I’ve explained this above.

Some landlords argue that they’ll offer a discount on rent only to tenants who are in need of it.

There’s nothing wrong with this reasoning.

But you must keep in mind that the 6-month bank moratorium does not distinguish between borrowers who need it and borrowers who don’t need it. It is a blanket conferment.

If we’re being equitable, the same can be extended to tenants.

Additionally, how does a landlord determine whether a tenant is in need of financial assistance? Tenants can lie. Some may really need it but are too embarrassed to ask.

Ultimately, whether or not you decide to give your tenant a moratorium or discount is up to you. There is no right way.

You must know that offering a moratorium to your tenant will not necessarily make you worse off if you have a mortgage.

How you should treat requests for discounts depends on whether you have a mortgage or not. Let’s look at the 2 possibilities:

1. You have a bank mortgage

The bank moratorium, improves your cashflow situation. The accrued interest is not really a cost to you if your future rental income covers the interest portion of monthly instalments. You can offer anything from a full moratorium to a small discount to your tenant during the moratorium period.

2. You don’t have a bank mortgage

In this case, the moratorium does not improve or worsen your net position. By giving a discount on rent, you are worse off. You therefore shouldn’t offer a discount unless you feel you can afford it.

As a precaution, don’t offer any discount or moratorium to your tenant until you think carefully about it. Ask for time, give it some thought and be equitable.

The Big Picture: It’s Good for You

The moratorium will benefit you if you have a mortgage. Even if you’re cash rich right now. There are mathematical grounds to support this argument.

It is a great move by the government because it will improve liquidity in the market, arrest the decline in demand for goods and services, and save the banking system from collapse.

You don’t have to be concerned about the accrued interest.

Inflation and the appreciation on your house value over time will offset this. In addition, if you have a tenant, there is probably no interest cost to you. Your current and future tenants will be taking care of this for you.

You are under no obligation to give a discount on rent during the moratorium. However, you are most likely not going to be worse off if you do. It is therefore equitable to extend either a moratorium or a discount to your tenant.

If you’ve been contemplating opting out of the moratorium, stop. Go through this post again and give it more thought.

Otherwise, enjoy the moratorium.

— end of article by Ikhram Merican from his blog,
livingspace.com.my
 —

Decisions are just due to a different perspective

If you have read kopiandproperty.com, you would see that even when someone comments negatively on some articles, I will still publish them. Truth is, they are entitled to their own opinion because they may have a different perspective. I have written many articles against some other people’s views too. So, let’s just read both sides and then make the decision and accept whatever outcome which comes from it. It’s way better than to just read one side and kept thinking that we are right just because we have read just one side.   Happy deciding on the moratorium yeah.

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The beginning point, property prices and current scenario

Everyone knows transactions are down but prices are up. For Malaysia, it has been subdued beginning 2012. Recently (Aug 2014), in the Knight Frank’s Prime Global Index, Kuala Lumpur did enough to be ranked 19, ahead of cities such as Delhi (23rd), Mumbai (25th), Tokyo (26th), Hong Kong (30th) and even Singapore (32nd). The %? 3.1% increase year on year as at June 2014 compared to a year ago. This is not surprising since Singapore’s HDB prices dropped to 29
th
 month low. (just reported on TV here in Singapore by Asia News Network). Highest in the world, with a crazy number is Jakarta, at 27.3%. Fortunately it’s in Rupiah versus the following which will make your jaw drop. New York (18.4 percent), Los Angeles (17.8 percent), Beijing (13.2 percent), Sydney (10.9 percent) and London (8.1 percent)

Our neighbour up north, despite the current power crisis still beat us. Bangkok is at 6.4%. Global average is at 6.2% which meant that prices are still growing fast. Actually too fast for me. I had hoped that the average would be much lower. As for Malaysia, I seriously think this kind of % may be maintained till next year. Especially with the potential GST effect and potential slowing down further of the market post GST like many other countries which have gone through GST. I wrote about it here earlier.
With GST, demand may slow down next year. True?

Oh yeah, the lesson to be learnt here? About the prices increase and about certain countries being higher than the rest. The lesson that I learnt from this set of numbers told me that there’s no such thing as trying to pinpoint where exactly to buy. However, I seriously feel that some countries which are already high are still growing prices like there’s no tomorrow. My friends have been saying that Penang property market has a bubble since many years back. Especially when prices doubled and tripled in some areas. Make no mistake about tripling from a low base versus continuous high single digit growth every year in a place where the prices have already TRIPLED. Look at Penang today, the new launches are no longer at ever higher prices per sf. In fact, the developers are actually reducing the prices. Schemes such as ‘Special prices for Limited Units’. If it’s limited units, just asking staffs to sell would do, especially if it is really that attractive. Oh yeah, the ‘limited units’ seemed like ‘many units’ because it has been ‘limited units’ for many weeks. Another ‘funny’ developer tricked my cousin sister to buy in Ipoh, saying it’s the last day for special price. For the next three weeks, the SAME developer advertises in the newspaper of the same special price they offered to my cousin sister. Fortunately, she said she is okay with the price and location, it is ok.

written on 10 Aug 2014

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MIER, The ‘cooling phase’ and the right price and right attitude

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