Everyone should HATE property investment because of these 4 reasons

I have many friends who hate property investment. They will tell me they will buy a property soon but they never did. So, even though they say they like property investment, I know that they actually hate property investment.

Property selling is all over the place
 (means many are desperate?)

There’s too many people trying to sell me properties these days. It’s on my Facebook wall, it’s in SMSes, it’s in emails and more. Moving on, some advertisements say it’s the final few units. As usual, some of these FB Live talks, the property speaker will also tell me that this is the best time to buy.

One funny speaker even said that best time passed long time ago. It is just the second best time today because the best time to buy was 20 years ago when the property prices were just too low. Then again, salary then was low too. Who knows, the second best time to buy may repeat itself 20 years down the road from today! So, is property investment really an investment?

The below would be four reasons why everyone should HATE property investment. (Haha.. Happy reading!)

#1 – Too easy, it’s risky

You see, when it comes to property investment, one is able to leverage. A property which is RM500,000 means a downpayment of just RM50,000.  Worst still, the actual amount paid to the bank after 30 years may easily be double or higher. Wow, this is just too much. Too huge risk to the buyer!

Fortunately though the banks do not simply lend to anyone who wants to buy a property.  Besides, as long as we bought some decent property, we will enjoy capital appreciation. By the way, the property prices increase is based on the overall price of RM500,000 and not our downpayment of RM50,000. This does not make financial sense!

The property price should just increase based on our down-payment, else, the the owner may get good returns! So, everyone should just invest in everything else other than property, especially those investments which does NOT give us leverage. We get returns based on only actual amount we invested. 🙂

#2 –
Easy to be cheated

An ex-colleague bought her second property 1 month after I gave a Property Investment 101 sharing in our company. How could she follow what I said so easily??!! A close friend bought 2nd, 3rd and I have lost count of the number of properties after he had a conversation with me of many hours.

There are also those launchings of a few hundred units of landed properties that was nearly fully booked. I mean during the times when we could go to sales galleries. All these buyers must be thinking that buying a house is like buying vegetable or fish in the market?

Why are these people so easily influenced to buy a property? Don’t they know that when a housing bubble bursts, their home prices will drop? Okay, I have no idea when the bubble will burst.
I think I also do not want to keep harping on the fact that property prices do rise again after the crisis.
(PRETEND you did not see this last sentence)

#3 –
Who says everyone gets rich from property?

Think really carefully. Some people who got rich from property, they will tell you. Some people who bought the WRONG property and they lost money, they will not tell you. (Yes, WRONG property…). So, I definitely think there are people who lost money!  By the way, it’s the same as people who invested into something and lost money, they also won’t tell you but if they got rich, they will show you.

Statistically, property prices over the past 26 years in Malaysia for example still showed an average home price increase. How can this happen…?

Source: housingwatch.my

Oh yeah, just wanted to also share that most high-net-worth individuals usually have property investment as part of their portfolio.
40% or more to be exact (click to read).
I am sure this is just to show that they are rich and not because property investment  gives good returns.

#4 – It takes TOO LONG.

Property investors like Charles Tan of kopiandproperty.com tells me that I should not buy a property if I am thinking about flipping for huge profits in 1-2 years. This is absurd! If I have invested in that XXXX scheme or that XXXX metal, the prices have gone up in days or weeks.

This property investment takes years! In fact it took months for the transaction to be completed and when I need to sell, it takes another few months! If I COULD IDENTIFY for sure which stock in the share market to buy, I would have gained returns much faster. As for which stock will surely rise, can some readers give me some tips? I am equally scared the stock price may drop after I buy. 🙂

Conclusion

There are actually ever more reasons why investing in property is not the best decision ever in our lives. In fact, we should just forget about diversification in investment and forget about property or real estate. Maybe we should just follow the majority. Just enjoy our salary and spend it all on things we like because as you know, enjoyment must be now. There are 8.8 sale, 9.9 sale, 10.10 sale and recently 11.11 sale! 🙂

We should not invest, wait until we have more wealth and spend later…?

Immediately, I must show to my peers that I drive a slightly better car than them. I hate it if I am the only one with an old smartphone while everyone else is using the latest smartphones. Make me lose face loh.

If after reading these you are still interested with property investment, then sign up for an article a day at kopiandproperty.com yeah. Else, it is perfectly okay too. It’s your life and your money. Do whatever you like about it. Happy investing into whatever you love to invest as long as you are happy. I love property investment but please evaluate carefully before buying yeah.

first written on 5 July 2018, edited 9th Aug 2021.

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Melaka real estate up close on 20,21 August. Investing the BLT way

I love Melaka and I would drop by for a few days on a yearly basis. This year, I will go again at the end of the year. Just too occupied every weekend these days. A holiday getaway in a UNESCO Heritage city with lots of awesome food and lots of things to see and do. I think many visitors to Melaka have the same idea as me. This is one reason the real estate scene in Melaka has been healthy the past few years. It’s not just the Singaporeans who are visiting Melaka in a big way but investments from China has also been on an uptrend too. Of course, not every area in Melaka is worth investing. Some may still be too far away from any real action and some may be too expensive simply due to it being a hotspot currently. Interested to understand a bit more about Melaka and some of the investment possibilities?

You can attend the
Bank, Law and Tax (BLT)
 talk this coming 20, 21 August 2016 from 2 – 530pm. They are also known as the BLT trio. All three speakers are recognised as experts in their field. They include Miichael Yeoh (Bank), Chris Tan (Lawyer) and Richard Oon (Tax). Of course, when we look at any property investments, these three would be the necessities. We need to get loans approved, make sure we are signing the right documents and last but not least do not pay too much tax or too little and get into trouble. BLT’s book is also available for sale in Popular and MPH. I personally like the simple to read contents.

Further details as follows:

Date: 20 – 21 August 2016 (10am – 6pm)

Mapex Room, Level 10 @ DoubleTree by Hilton Hotel, Kuala Lumpur

They have also developed a model called OPRIME which they are using as their personal guide for property investment. For this particular session, they will be using the Imperio Project by Hatten Group to illustrate the OPRIME concept. Hatten Group is also the sponsor for the event. That’s main reason why event is free but to attend, a registration is needed.
Register here.

Or if you have any inquiries call Mun Goon at 016 446 9278

This event is brought to you by

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Press Release by Hatten Land: SATORI, Melaka’s first Wellness – Themed Mixed Development

Press Release:
Hatten Land Unveils SATORI, Melaka’s First Wellness- Themed Mixed Development

— start —

• Melaka Chief Minister Officiates Launch of RM300 Million Project in Historical City

SINGAPORE / MELAKA, MALAYSIA, 21 July 2017 – Melaka Chief Minister Datuk Seri Utama Ir. Haji Idris bin Haji Haron unveiled today SATORI, the state’s first wellness-themed mixed development in a ground-breaking ceremony that drew over 200 guests which included Government Officials, corporate leaders and Melaka’s top echelon. The project, with an estimated gross development value of RM300 million, is developed by the Singapore Exchange listed, multi-award winning Hatten Land Ltd (“Hatten Land”).

An influx of local and foreign investors, media partners and industry influencers converged at the Hatten ICON Gallery at Level One of Hatten Square to witness the launch of the major game-changer in Melaka’s burgeoning economy. SATORI, an eye-catching development set in the heart of the historical city with a gross floor area of about 570,400 square feet will consist of 192 serviced suites, an 85,250 square feet retail mall with an adjoining car park with 457 lots, a 336-room hotel and more than 50 world-class facilities.

HATTEN LAND LIMITED

(formerly known as VGO Corporation Limited) (Company Registration No.: 199301388D) (Incorporated in the Republic of Singapore)

SATORI, which means “enlightenment” in Japanese, goes beyond just bodily health. It is a haven of all-round, holistic wellness which combines the elements of physical, psychological as well as spiritual well-being, personalised to suit the specific needs and goals of each visitor.

Categorised into fitness, beauty, leisure and overall well-being, these are just a few of the more than 50 facilities housed in SATORI:

One-Stop Fitness & Aqua Gym

Health Food Outlets

Yoga Room / Ariel Yoga

Sea Salt Spa & Mud Baths

Beauty & Hair Care

Meditation Hall

Infinity Pool, Sky Lounge & Cabana

BBQ Area & Hammock Chairs

Reflexology Stone Track

Herb Garden

Red Indian Play Zone

Beanbag Theatre

As an investment, SATORI will carve a niche in the multi-billion dollar global wellness-tourism market1 by making a definitive statement in the wellness sector. A one-stop, wellness-leisure destination, set in a city which hosts 16 million tourists a year2 due to its rich historical heritage, SATORI creates opportunities for investors to capitalise on Malaysia’s growing potential for wellness tourism.

Dato’ Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: “SATORI seeks to offer a clear differentiation by making a strong statement on the wellness theme. Pioneering a new holistic wellness niche in Melaka, SATORI is the only one of its kind to combine health, fitness, beauty treatments, leisure as well as homes and a hotel, all in one vibrant destination. SATORI’s brilliant composition of facilities, residences and accommodation meets the aspirations of an increasingly sophisticated market which seeks quality wellness and health services.”

“Moreover, SATORI’s proximity to Hatten Land’s iconic Hatten City, and major developments such as the deep sea port, cruise terminal and Kuala Lumpur-Singapore High Speed Rail position this project for future growth in one of the most important cities along peninsular Malaysia’s west coast straddling the Straits of Malacca, one of the world’s busiest sea lanes,” he added.

— End —

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8 reasons why buying a property in Melaka is not for you

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Haunted Properties and Avoiding One.

Some time back, I wrote about this before.
Buying HAUNTED properties?
 Today I read the same topic again, in
propsocial.my
 and it has many Malaysian examples! My wife and I have never watched haunted movies together in a cinema before. I have watched a couple with my friends during secondary school days but these days I would definitely prefer a comedy instead. So, the question is, are there ways to make sure that unit that you are buying is just not a haunted one? Perhaps you can try the following:

Your own feeling. Come on, nearly everyone would have been to certain places that we just do not feel comfortable. Something’s just not right. Darker than usual alleys, spoilt light bulb right on the day you visited the place or even that extra cool feeling? Don’t force it. There are lots of other properties you can view.

Bring along a pet (dog preferable).  It’s something which I have heard for many years. Even read them in some property related books and even some online articles. It seems that dogs are able to feel better than us. I do not have a dog and thus I would not be able to bring one.

ASK your agent. Yes, sometimes your agent may hide this from you but if you ask, chances are some of them would tell you the truth. The other half who did not, they would also be acting a little strange when they bring you since you asked them before. Thus, asking them would help you to reduce the possibility of buying a haunted place.

Be friendly and ask the neighbours.  If you are lucky, perhaps you may meet some of the neighbours. Ask them a few easy to answer questions such as who was staying there previously. Why did they move etc. Of course, it’s best not to ask, ‘Do you think there are ghosts inside?’ I do not think anyone would answer you.

Get professional help. Actually, I do not recommend this but some sites said this is a must. So, I still list them here. Perhaps that property that you are buying is worth this professional help, then yeah get them. This may be a place to start: http://malaysian-paranormal-research.org/

Avoid old houses. Come on, with the tall grasses, weeds and even plants growing from the edge of the roof, would you still want to buy it? Also the paint peeling so badly you could not even see what was it’s original colour? Haha. Actually when the feeling is not right, perhaps next viewing should be scheduled instead.

Okay, that’s some of the potential considerations. Thus far I think I have been lucky. Have not come across all these. Perhaps I have not bought enough yet? Oh yeah, always do read about some of the cases online. Lots to read as soon as you google for
‘haunted properties in Malaysia.’
I think I will always rely on item 1. Of course I would bring along my wife too. I think two of us can’t be wrong. Plus I would use agents whom I know and this would at least ensure me that my agent is not there to cheat me. If he did, he would only be able to get my business for one time.  Happy researching before you buy. A haunted home is certainly no laughing matter.

written on 15 Feb 2015

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No, No, Don’t buy that.

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When price is BIG issue, should we consider ‘Alternative’ property?

Many times, we want to find a cheap property but we do not want to buy a small-sized one. Yet we do not want to buy too far away that an hour of drive is necessary to reach office everyday. I am okay with up to an hour of driving but for some they could not accept this fact. So, cheap price, big sized and nearby the city centre. Any other potential choice? Haha. Actually, we could sometimes see some of these odd deals even in the property listing sites. Somehow, it’s much lower than the other units which were also being advertised. Maybe the owner is just desperate to sell but what if the unit was HAUNTED? Here’s one
Good article in StarProperty.my for reference.

The writer Victor Chong shared that property prices in the market are not affected by just the built up size or the numhber of rooms and bathrooms, it may be affected by events such as tragedies and deaths that have occurred in the property before. Many Malaysians are fearful of ghosts but they fear rising property prices too. He shared a story of a Hong Kong “King of Haunted Flats” who is well known for buying haunted flats of also known as “hongza” properties. For example, he bought a 325 sq ft condo unit that had a double suicide for just over HK$1mil (RM515,243) in 2012, 30% less than the market rate. Ng speculated that the apartment might be worth around HK$4.4mil (RM2.2mil) in another eight years time. According to Ng, the heavy discounts for haunted apartments have narrowed from about 30% in 2013 to about 10% this year. Previously, he was able to buy such houses at around a 40% discount. Here’s that
Good article in StarProperty.my for reference.

My earlier article here:
Buying Haunted properties?

By the way, someone told me that whether the haunted house will affect you or not depends on the religion. For example, if the tragedy happened to someone of a different faith, it should not affect the buyer if he is not of the same religion. Frankly, I have no idea but the feeling of buying a place which does not give me a good feeling is not my cup of tea. Haunted or not, let’s understand that many times, we may be able to feel something different with the unit we were viewing or even places that we visit. It’s good to trust that feeling and skip the unit in my opinion. We are going to spend a few hundred thousand Ringgit or more, it’s best to buy something we are comfortable with.

Then there is this question of what happens if the price is really low? Say 40 percent lower than the market? 😛  The discount may be worth to get services from professionals who could perform some forms of exorcism? Some may also think that with such a huge savings, perhaps a total renovation with lots of bright lights perhaps will change that uncomfortable feeling. For friends who tell me that they are not scared of all these ‘unknown’ elements, they are able to enjoy some of these ‘perks’ from buying a haunted unit. In Malaysia, we are not that advanced that these listings are listed as such. However, a little asking around would usually yield some of these potential units. Happy searching for one.

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Have a very Merry Christmas and a Happy New Year!

It’s been an eventful 2021. I am grateful that even if things have not been exactly the way I wanted it, it is okay. I have survived this year and I shall be even stronger in 2022.

New Year resolution? It’s a simple one. To do better than 2021 by working harder and smarter. Cheers everyone.

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Have you gotten your share within the RM8.6 billion disbursed out?

You do not know about this RM 8.6 billion? Yes, I am speaking about our COVID-19 stimulus package with a total allocation of RM260 billion. The 3rd one was aimed at the SMEs Read here:
Our important SMEs. Package 3 of stimulus is aimed at them
. I was worried that this allocation will take a much longer time to be implemented / disbursed but the Finance Ministry is really proving me wrong and I am the happy with this. Of course, the fact that the Finance Minister is an experienced banker helps tremendously too.

Article in nst.com.my
   RM8.6 billion has been disbursed as part of the RM260 billion Prihatin economic stimulus.  Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the RM8.6 billion was equivalent to 25 per cent of the total amount allocated for ministries and relevant enforcement agencies under Prihatin. He also shared that as of April 12, over 6 million people had received funds and one-off payments from the stimulus.

He said, “Looking forward, I hope that rakyat or small and medium businesses who have yet to receive assistance from the Prihatin economic stimulus package will submit their applications as soon as possible.”  Tangju Zafrul also shared that RM1.48 billion in the Special Relief Fund (SRF) for small and medium enterprises (SMEs) had been approved as at April 12. This is a total of 2,958 SMEs. Please do refer to the full report here for better understanding.
Article in nst.com.my

Let’s understand again yeah. The COVID-19 stimulus is not here to make anyone rich or even to substitute for the loss of sales revenue during the MCO for SMEs. These funds are to ensure the most vulnerable ones continue to get monetary support and the SMEs get a lifeline. While normalisation will take some time, the funds will at sustain people and businesses for a couple of months.

In fact the moratorium of 6 months (read here for often asked questions on the moratorium)
are expected to provide the same relief so that the market (whether it’s the wet market, the stock market of even the property market) do not suddenly spin into even more negative volatility. In the mean for the SMEs who has yet to apply, please do so soonest yeah. As we can see, the approval and disbursement is really quite efficient. Thank you yeah dear Finance Ministry. Good job thus far.

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HAVOC Hartanah the 10th is here. See you!

This is an event not to be missed. Property Investment is not a small decision. It’s usually the biggest decision in our lives involving hundreds of thousands of ringgit. Buying the right one and we will be on the road towards success. Buying the wrong one means we are stuck with it for a very long time and may even face bankruptcy!
Earlier article: Bankrupt Malaysians, what are the reasons?

Actually, the more serious issue we are facing would be the potential of property scams. These days, many are cleverly playing with our ignorance and greed and telling us that property investments can give fast money… (huge cashbacks) or even promising us that prices will rise by a certain % after the completion. Many believed and this was also why many got conned.  Come and join the Havoc Hartanah 10th edition.  I will be speaking too! My topic:
What’s coming in 2020 -Opportunity Vs Challenges

Click here to go sign up yeah.
  Alternatively, just Whatsapp WhatsApp : Mas #0111 0694 043    Pls say : HH10    (No need to mention kopiandproperty.com  We are not resellers)

Many prominent property speakers will be speaking and they include Syireen Rose, Khalil Adis, Tahir Hussain, Afiqah Nabilah, Max Shankar, Abang Abu @ Mekanik Wang, Elizabeth SIew, Wan Adli and even a MYSTERY GUEST with The Midas Touch. Do refer to the image below for all of them.

See you there. Here’s the signup link again.
Click here to go sign up yeah.
  Alternatively, just Whatsapp WhatsApp : Mas #0111 0694 043    Pls say : HH10    (No need to mention kopiandproperty.com  We are not resellers)

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How true is Iskandar’s oversupply situation?

I think majority of everyone would have this thought today. If the market is slowing down, how could Iskandar not having its share of oversupply situation? The developers from China are launching thousands after thousands of units and today the foreigners are barred from buying any property below RM1 million. It has already ‘killed’ the market, right? Well, it’s always good to understand more whether you like Iskandar or dislike Iskandar. Investment is about taking appropriate actions only after learning. It’s not about just simply doing what everyone is doing.

There is one event being organised by a good friend called “Havoc Hartanah Iskandar Malaysia”. This is a full Convention programme co-organised byReconsultPlt and Iskandar Regional Development Authority (IRDA). This programme aims to provide an update os the following current analysis/updates:

1. The impact of the Budget 2016 on Property Market.

2. The Current Economic situation and Opportunities in Iskandar Malaysia.

3. The Property Demand and Supply in Iskandar Malaysia.

4. The right way to apply a property loan to ensure approval.

5. The Potential New Hot Spot Growth in Iskandar Malaysia.

6. Personal Financing & motivation.

To understand more, please proceed to download the PDF for full details here:
Havoc Iskandar 2015
.

In brief, details are here:

Date: 24th-25th Oct 2015 (Sat & Sun)

Venue: Galeri Glulam,kawasan Perindustrian Tampoi, Johor Bahru,Johor.

Time: 8.30am to 6pm

Anticipated attendance: 300 participants/day

Theme: Is it true that Iskandar Malaysia has oversupply property?

Contact details:

RECONSULT PLT (LLP0001223-LGN)

C-07-05 Empire Damansara Soho1 Jalan PJU 8/8A

Damansara Perdana

47820 Petaling Jaya

General Hunting Line / Email +60376294841 / +60376294842
<tanya.havochartanah@gmail.com>

Hazmie +60173050308 <m.hazmie.reconsultplt@gmail.com>

Jeffry+60193975760 <aj.reconsultplt@gmail.com>

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It’s time for Havoc Hartanah 2016 in Kuala Lumpur

It’s important to keep learning from those who has more experience than us when it comes to property investment. Seriously, it matters not whether you agree or disagree with all the speaker. No one knows you better than you. These talks give us another perspective that we may have overlooked or even some additional information we did not have previously. This is one event that I always look forward to as the organiser is a good friend of mine, Rozalina and she invites only good people willing to share instead of standing on stage to sell their projects, courses or services. Rozalina personally cautioned every speaker she invited, “No one can sell anything on stage or I will grab a mic and warn publicly.” She smiled when she said it but I know she’s serious and I think this is good for the attendees. No one likes to listen to a full day of sales talk.

I think the two-day seminar is very suitable for those thinking about property investment but has yet to be serious due to lack of knowledge. The investment is way too small compared to the preparations of all the speakers. Oh yeah, the ticket price includes meals too. Dates are April 16 (English) and 17 (BM). Both days would feature different speakers. Thus, those who could understand both languages would find better value. Remember to build networks during these seminars too. There’s no way anyone can be an expert in all areas, thus the more friends you have, the more areas that you would be familiar with for your property investment.

The full rate is RM90 for two days. To those who would like to sign up and learn from these 14 people, you can proceed directly to sign up via Havoc Hartanah official sign-up page here:
Havoc Hartanah KL 2016

For kopiandproperty.com followers, you will get a discount if you sign up for both days. No discount for single day tickets. The special deals as follows: RM10 off from the full price of RM90 if you sign up alone. RM20 discount per ticket if you sign up with one more friend. RM30 discount per ticket for every 3 signups or more. Do write in to kopiandproperty@gmail.com for details.

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Learning from Havoc Hartanah in Kuala Lumpur

Knowledge is vital in anything we do. Our first job and later a career. Our first home and later an investment. Our slow dip or fast jump into the stock market and later an experienced person whether win or lose. All these requires knowledge. Otherwise, its purely luck or perhaps a gamble. As with luck or a gamble, no one wins all the time. My special preference is always to aim for calculated risk. In other words, weighing my options and choosing one which I feel is best suited to my risk appetite. Learn from the experience of others who have done it better than us. For the who are just starting, equip yourself with lots of new knowledge.

A good friend, Rozalina sent me this event and asked me to tell more people about it. It’s called HAVOC Hartanah and I think you would notice that the topics are interesting and the speakers are already very successful in their property adventure thus far. Please download the full brochure here:
HAVOC Hartanah.

Some event details as follows:

social+media+-+blogger-2

To be honest, there’s little to lose to listen to many of these speakers who are experienced. I personally know two of them well and they have always given me new points to note in my own personal property journey. Even though I have listened to their seminars before but thus far they continue to update their materials. I think it would be really unproductive if we were to listen to the same talk again and again right. Oh yeah, one of them (a foreigner, haha) would give you lots of facts and stats so that you can also learn objectively. Do check out the event and proceed to contact the organiser to sign up. The contact as follows:

RECONSULT PLT (LLP0001223-LGN)

C-07-05 Empire Damansara Soho1 Jalan PJU 8/8A

Damansara Perdana

47820 Petaling Jaya

Contact :

Nadia Nurdiana : +60172504898

Email : nadianurdiana.reconsult@gmail.com

M. Hazmie : +60173050308

Email : m.hazmie.reconsult@gmail.com

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HAVOC Hartanah Kuala Lumpur. “2015: Property Doom or Boom”

Whenever and wherever possible, I always attend talks / seminars by those whom I feel know more than me. After all, learning is a continuous affair and your knowledge today may be obsolete tomorrow unless you continue to update it. In fact investing five years ago versus investing today or even five years later would be different. Markets go up and down. Property types and popularity of certain locations continue to evolve too. Thus when my good  friend Pn. Rozalina sent me a VIP invite, I think I must write about this to share. It’s certainly one of those events that I would attend instead of drinking coffee and browsing Facebook.

What do you call an event which has assembled a line-up of all the who’s who in the property world for our learning? It’s called HAVOC HARTANAH KUALA LUMPUR 2015. The event is organised by RECONSULT PLT, a consulting & advisory firm specializing in providing a broad spectrum of services to developers. The theme of the first series of HAVOC HARTANAH Kuala Lumpur is
“2015: Property Doom or Boom?”

Event details as follows:

Date: 7 & 8 March 2015 (Sat & Sun), from 9:00am – 5:30pm.

Venue: Kompleks Kraftangan, Panggung Sari, Jalan Conlay, Kuala Lumpur

Total Speakers: 14   Details here:
http://carirumah.com.my/havoc-hartanah/

Ticket price: RM50 / day or RM90 / 2 days. Get your tickets here:
https://carirumah.aztetic.my/buy/havochartanah2015

Some developers participating in this event include:

1) UEM SUNRISE

2) UMLAND

3) ANDAMAN

4) SUNSURIA

5) MAH SING GROUP

Full Itinearies as follows:

Time

7-March-2015-Saturday

Presentation Title
(English Session)

08:30am

Arrival of Guest

09:15-09:30

PuanRozalina Rahim

Opening Speech

09:30-10:15

Dr. Daniele Gambero

The Economic Of A Property Downturn

10:15-10:45

BREAK

10:45-11:30

Ishmael Ho

Mapping Hotspot of Middle Income Areas

11:30-12:30

FaizulRidzuan

Area Analysis of Recession Proved Property

12:30-02:00

BREAK

02:00-02:45

Prudence Wong

How To Turn your Tenants Into Cash-Flow Machines And Love You At The Same Time

02:45-03:30

Richard Oon

GST Impact On Property & What You Need To Do

03:30-04:00

BREAK

04:00-04:45

Adrian Wee

Seize The Opportunity In Times of Trouble: BRR & BRS

04:45-05:15

Khalil Adis

Affordable & 1
st
 Time Home Buyer: What Should You Be Focusing On In 2015

05:15-05:45

Dr. Daniele, FaizulRidzuan, Prudence Wong, Richard Oon

Panel of Discussion

Time

8-March-2015-Sunday

Presentation Title
(Bahasa Malaysia Session)

08:30 pagi

KetibaanTetamu

09:15-09:30

PuanRozalina Rahim

Kata Kata Aluan

09:30-10:15

AzizulAzli Ahmad

Hartanah Luar Bandar, Boleh Buat Duit ke?

10:15-10:45

REHAT

10:45-11:30

MiichaelYeoh

PembiayaanGadaian 2015. Bagaimana Untuk Mendapatkan Pinjaman Anda Diluluskan?

11:30-12:30

FaizulRidzuan

Guna Analisa Kawasan Unutk Dapat RM 3juta

12:30-02:00

REHAT

02:00-02:45

Wan Infolelong (SafuanAbd Rahman)

Menggunakan ‘Cashflow’ Dari Hartanah Bagi Mengatasi Kemurungan Ekonomi

02:45-03:30

Rohaniah Noor

SCAM-Undercon, Subsale&Lelong: Apa Anda Perlu Tahu

03:30-04:00

REHAT

04:00-04:45

Chris Tan

Impak GST Dalam Pelaburan Hartanah

04:45-05:30

Abang Abu (Mekanik Wang

Manipulasi Duit

Total Speakers: 14 Details here:
http://carirumah.com.my/havoc-hartanah/

Ticket price: RM50 / day or RM90 / 2 days. Get your tickets here:
https://carirumah.aztetic.my/buy/havochartanah2015

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HBA: Not hoping for prices to come down suddenly

The National House Buyers Association (HBA) said that whatever it has been proposing is for the government to stop property prices from going up too fast. It said that is is not hoping for prices to drop suddenly. This is because if it does, it will trigger a property bubble to burst which is a very bad situation. It’s secretary general, Chang Kim Loong said that the affordable homes schemes will only help more people to own homes but would not be pushing prices down. However, for some property speculators who do not have holding power, they may be forced to sell their property cheaper with the competition from these affordable properties. Majority of the buyers should not be affected.

HBA has proposed to the government to increase the stamp duty and real property gains tax (RPGT) for the purchase of the third and subsequent property. This is because most buyers are only able to afford two properties in their lifetime. One for own stay and another for long-term investment. I think the HBA is of the opinion that the third one is not encouraged as it may be more speculative in nature. There are some truths to this but I am not sure if this is a good move as it would really limit some people who are only concentrating on property as their investment vehicle for retirement. Not everyone may want to dabble in unit trusts or stocks too.

Chang also hoped that the affordable homes are only offer to first-time home buyers and should be in a good location and with reasonable prices of between RM150,000 and RM300,000 and not more than RM400,000 for prime locations. It should never be offered to second-time house buyers at all. Besides that, he opines private developers are the best agent for delivery and government can help fasten the ownership and delivery by offering rebates and incentives like lower conversion premiums, lower corporate tax rates and expedite the release of unsold bumiputra units.

I personally feel that private developers can help in really pushing for faster deliveries for these affordable homes compared to just government agencies. Let’ face the truth, if the developers are not doing this fast enough, they are only delaying the profits that they may earn. In fact I think many of the developers would love it if the units were fully sold immediately after launch so that they can quickly start building. Today, their main worries are more of not enough buyers. In fact where profits are concerned, I think many developers may be better off building these affordable homes instead of taking more risks by launching properties which are deemed ‘expensive’ under the current situation. Let’s see if the government listens to HBA’s recommendation for the third property onwards.

written on 25 Oct 2015

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HBA: To reduce unsold units, stop building non-affordable ones.

National House Buyers Association (HBA) have some sharp comments recently. It said that developers need to stop classifying affordable homes as those priced from RM500,000 and below. HBA secretary-general Chang Kim Loong said, “The situation of unsold properties or ‘overhang’ is only going to get worse if those in the Real Estate and Housing Developers’ Association (Rehda) and other developers continue to build properties which are beyond the income levels of the majority of our people.”  He said that there is currently a mismatch between house prices and salaries of consumers needing houses. (In brief, it’s either property prices too high or salaries still too low)  Article about his views in
FreeMalaysiaToday.com here.

An earlier article about the state of unsold units in Malaysia
Unsold up by another 10,000 units. Worry now?
Chang said housing developers needed to build more “really” affordable houses that cost between RM150,000 and RM300,000. He said that housing developers will have to either give ‘real discounts’ or they will have to wait until the economy picks up again. He said, “Instead of giving freebies like free legal fees, free stamp duties, free furniture, free two years’ maintenance charges, extra car park, or cash back guarantees, housing developers should give actual discounts off the sales price. As an example, actual sales price minus 20% off. They must also build the right product at the right place with the right pricing and the right numbers.”

Veteran property expert Ernest Cheong meanwhile predicted that unsold units would keep rising if prices kept increasing. In fact predicted the bankruptcy of 50 percent of developers in Malaysia if they could not sell their units to pay the banks. This situation is now similar to 1997 /1998 period where many developers going bankrupt due to same reason. He said developers have built too many properties which ordinary people could not afford and this is despite warnings from experts since several years back.
Please refer to the full article in FreeMalaysiaToday.com

If we look at the newer launches these days, prices do seem to be creeping lower. Perhaps this lower prices are still insufficient for the households to buy a unit yet. As for whether prices will suddenly drop, then it depends on the current owners too and not just the developers.
An earlier article here.
 Also, when we look at home ownership, we need to also look at the secondary market and not just the new launches. One main reason buyers skip the secondary market is because they could not come up with the downpayment needed. Thus, perhaps the problem to be solved does not rest solely on the developers’ shoulders but buyers themselves too. Happy following.

written on 30 Dec 2018

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HBA: Regulate profit margins, property prices down significantly

Reported in SunBiz. According to the House Buyers Association (HBA) secretary-general, Chang Kim Loong, if the government regulates the profit margins of property developers for the ‘affordable’ category, this will reduce property prices significantly. He quoted an example of a ‘crazy’ Cheras terrace house which is priced at RM750,000 today. He said that if his proposal is taken, the prices can go down to just RM350,000 – RM400,000. He said this price can be easily verified by the many professional quantity surveyors in the country. This is possible because the many alleged ‘hidden costs’ or ‘grease money’ currently being paid could be stopped.

In fact, the calculation can be derived at easily too. He explained further. Today, prices of building components like cement, steel per square foot and sand are regulated by the government. Besides this, the professional fees (architects, lawyers, engineers and surveyors) are also regulated with standardised processing fees to the local council. Compliance cost can also be pre-determined. Land prices can be identified by the Finance Ministry’s Property and Valuation department too. When all these have been factored into the cost of the property development and 20 percent is added, it will allow the prices of these properties to go down significantly as per the example of the Cheras home above.

Chang said that the possibility of a “homeless generation” is very real and the current push for affordable homes from RM500,000 to RM1,000,000 should also be looked at from the size and location perspective as well. It is not enough that the prices are low but the size is too small for a family simply because it is in a hotspot. Read my comments here:
Property Prices too high? You might be the main reason.

The current housing programmes which focusses on just price are simply not holistic enough. The property prices has also risen so much that is is beyond the reach of the majority. I think Chang is talking about those in the hotspots. This is because any check in any property portals would reveal lots of choices below RM400,000 but the location may not be within the hotspots that everyone wanted.

Assuming Chang is right and somehow the prices really do go down to RM350,000 from current RM750,000 as per his example, I would hope that there are also mechanisms for check and balance. RPGT alone may not be enough because if I need to queue up for 2 days to buy a property for RM350,000 which is already worth RM750,000 today, I would. In fact I would have no issues to hold it till the RPGT period is over because we are talking about the potential profit of at least RM400,000 here. How can we ensure that the most deserved get the home and not able to profit from such a property? This is very important and should be transparently drawn up too, probably with assistance from HBA and other concerned parties. Happy buying or renting and thus becoming a homeless generation.

written on 22 Sept 2015

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He joins, New launches, Penang gains

An industry veteran so famous that any connection to him means ‘sure successful’ thus far, Tan Sri Liew Kee Sin has joined Eco World Development Group Bhd as a non independent & non executive director. His son, Liew Tian Xiong is already a Director in Eco World. This has been speculated for a long time but is announced recently. Nevertheless, Tan Sri will continue to be the chairman of Battersea Project Holding Company Limited as well as the managing director of Qinzhou Development (Malaysia) Consortium Sdn Bhd.

On a separate occasion, Eco World will be launching a huge project by Penang’s standard, a RM1.26 Billion GDV development called EcoTerraces and EcoMeadows. If based on name alone, I’d buy EcoMeadows. However, EcoTerraces is in island while EcoMeadows is in Perai. The RM340mil EcoTerraces is a RM340 million project sited on a 5.26 acre land. It comprises of luxury landed homes, condominium units, and a private residents’ club about five minutes from Air Itam town in the northeast district. The preview is expected in August which is already the second half of 2014. Perfect timing perhaps?

Their second project on a much larger piece of land of 24.28ha land would be launched next year. this is the RM920 million mixed development EcoMeadows. The main attraction would be the fact that it is freehold and very near to the second link. I seriously think this project would be a great success because of their brand name which has been built thus far. However, pricing should not be too premium to ensure fast take up. This is because Eco World is not the only developer with lands near the second link and everyone would be rushing to follow their launching.

Eco World’s Group president and chief executive officer, Datuk Chang Khim Wah is also confident that the second half of the year will see a recovery from the lacklustre first half due to the cooling measures from Bank Negara. He likes Penang because of its strong underlying demand, good economic prospects and contiued job creation on both the island and the mainland.

I always love all these new developments in Penang, especially by huge and established developers. The reason being, for any development to really take off, the plan has to be an integrated one and any small developer definitely cannot be the catalyst. However, a few huge developers can do it. Remember how Sungai Ara was not seen as a popular area before SP Setia? Or the Tanjung Seri Pinang which has created a totally new space in Tanjung Tokong? Do not forget Balik Pulau’s MTT integrated development as well. They even built a British International School to support the whole development! All these means exciting times will continue for Penang. I think anyone thinking of long term investment in Penang should be smiling.

written on 12 May 2014

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Healthcare next to Singapore? Hard to go wrong.

I was hospitalised in the Singapore General hospital once. I had the appendicitis operations there simply because I was in such a pain that it was unimaginable to come back to Malaysia. I might not have survived too. I took the air-conditioned room instead of the one with just fans and the bill came to a total of RM22,000. I think it must be due to the currency but truth is, I was ONLY operated in the Singapore General Hospital. I dared not think what would be the total charges be like if I am in one of the private hospitals there. That’s why I seriously think a few more private hospitals just right across the causeway is hard to go wrong.

I read a news about the real estate and architecture firm Rowsley which had announced that it will be converting its Iskandar Malaysia township project Vantage Bay into a healthcare city. The main reason is because of the current slowdown and yet lots of multiple developments are finding it hard to differentiate itself from one another. Many analysts have also said that there is a housing oversupply in Iskandar. While I disagree with this blanket assumption but that’s another story. The new project would be a development of RM5 billion called Vantage Bay Healthcare City and will comprise six major components, including a specialist and a community hospital, a medical institute, a wellness resort, service apartments for medical tourists and a wellness-themed mall.

Rowsley chief executive Lock Wai Han gave some stats showing the number of Malaysians aged 60 and above will double in 15 years while the same group would already be 20 percent of Singapore’s population within the same period. I think majority of these Malaysians would be spread throughout Malaysia and thus they may not be going Iskandar alone. However, that 20 percent of Singaporeans would be a huge market. Seriously, healthcare is getting ever more expensive and even if you earn SGD, it may be wiser to get treated paying RM. Today, for a low-risk surgery, it is already cheaper to fly into Malaysia from Britain, get operated on plus a short holiday versus getting it done in Britain.

Overall, the project will take over 10 years to complete and the first one would be Thomson Iskandar. It is a specialist hospital to be built on a site adjacent to the Vantage Bay land. This hospital is owned by TMC Life Sciences and will be managed by Singapore’s Thomson Medical when it is completed in 2018. One reason why this will definitely come true? Well, all three entities, TMC, Thomson and Rowsley are controlled by Singaporean tycoon Peter Lim.

I think the issue of oversupply is secondary to the issue of totally negative sentiment in the whole market today. This is because the slowdown is happening not just in Iskandar but also in Klang Valley where majority of any new graduate would be flocking to for a job. Yet, the property transactions are slowing which does not make sense except for the negative sentiment. Everyone has failed to see that Iskandar is right next to Singapore and there is no way that Singaporean companies can effectively compete against the world by operating only within Singapore. Sorry but this is true.

I would definitely not be going to Iskandar for medical treatment as I have many choices nearby here in the Klang Valley but I think this decision by Rowsley is a step in the right direction. Build the ‘attractions’ first before building the residential ones. This may be something which Iskandar should start focusing upon. For now, the negative sentiment is still there even if Ringgit has been on an uptrend for one week. Volatility is the flavour of the day but not doing anything at all is definitely not the best decision. The right time to invest is anytime. Cheers.

written on 10 Oct 2015

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Slow times but still healthy profit numbers for UOA

UOA Development is familiar to me because my former company operates from one of the tower in The Horizon, Bangsar South. As I come to KL pretty often then when I was based in Penang, I also had many lunches in the few restaurants there. In case you are still wondering where is Bangsar South, it’s known as Kerinchi? That’s where the Kerinchi flats are? Anyway, Bangsar South is now considered a prominent address and my tenant moved into her condo last year. She bought it for RM750,000. Yes, that’s indeed a very good price for an area which many associate as ‘low-end.’

UOA Development has just reported healthy numbers for the first nine months ending Sept 30, 2015 (9MFY15). It’s net profit increased 34.4 percent to RM305.95 million versus a revenue of RM1.13 billion for the same period. Yes, the net profit margin is at a comfortable level of 27 percent! Though it’s without any new project launch, it ended Sept 30, 2015 with total property sales of approximately RM708.4 million. UOA said that it will keep its focus within Greater KL and will be on the lookout for strategic development lands. Some of the projects contributing to this set of good numbers include Desa Green, Scenaria @ North Kiara Hills, South View Serviced Apartments, Southbank Residence, Desa Sentul, The Vertical Corporate Tower and the recently-completed Vertical Office Suites.

A search in propertyguru.com.my revealed that in terms of family-type sizes at an affordable price tag, there is one Vista Angkasa which is below RM500,000. Stretching this further to RM700,000 would reveal some additional choices. Take a look at the screenshot for the latest listings. KL Gateway offers some small units but the prices are already close to RM1,000 per sq ft. In other words, the target market for these units would have to be highly paid senior managers or preferably expats. Other than these two, it’s hard to imagine a typical manager to pay so much just to stay close to his office even if its in Bangsar South. Plus point? Bangsar South is already considered a good area to be today and Mid-Valley is extremely nearby. Yes, UOA recently took over the branding of the KL Gateway LRT Station (formerly called Universiti). So, I think there are lots more happening there. Prices are high though and if it’s not your cup of tea, buy its stocks instead and wait. Happy deciding.

written on 25 Nov 2015

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Hedging? Do it now, for future. Property in Australia?

One MORNING session lady radio deejay who knows very little about investment was trying to talk about the topic of ringgit’s depreciation. Actually there are hundreds and thousands of topics that she could focus on. Well, one caller called in and say that everyone must start to hedge before
ringgit falls further.
 Valid point. Then, the caller said, people should consider buying Australian property. It will help to get capital appreciation and currency fluctuation. After all, Australian Dollar is more stable. For this one, I am not sure if I should laugh or smile. Let me just show the AUD versus Ringgit exchange rate. STABLE? Take a look at the image for RM vs AUD for past 12 months. The lady deejay said she also think buying properties overseas may help
hedging
 against Ringgit. Huh?

Let me share a bit about hedging. If you only hedge now and you believe Ringgit will fall further, property is definitely NOT the best hedge. No one knows what would happen by the time your transaction is completed. The property market might have even burst! Well, if you believe Ringgit will fall further, then open a foreign currency account and transfer some of your Ringgit holdings into that currency that you feel will sure go up or perhaps stay the same while Ringgit keep dropping. Since the caller mentioned AUD, by all means buy AUD now since it has not moved up as much versus
Ringgit as US$.

Another caller called in and say if he had RM300,000 now, he would move RM100,000 into gold. This is because
gold prices
 have fallen and gold is a precious commodity, for sure will go up. During times of war, the currency note in your hand means nothing but a gold bar would carry you far. If you believe Ringgit will drop further, this may be a way for you to hedge against the drop. What if the gold prices move upwards? Then, you would not just be hedging but will also have capital gains! Note: I have NO holdings in Gold and have no intention to buy gold. Just not my type whether or not it’s a good choice.

How am I hedging? I think I have been hedging for many years. My investments would have earned higher profits in % compared to the % of fall in Ringgit which has happened. I think I have also bought enough
undervalued stocks
 to also enjoy some dividends every financial year. My unit trusts have also been moved to more stable funds and I think my loss from equity is minimized. As long as we have always been investing, we have hedged. Do not take drastic actions today and say that you are hedging due to current situation. Sorry, it does not work. Even for airlines, when they hedge against potential oil price increase, they do it well in advance. For companies with current exposure, they also hedge well in advance. To the lady radio deejay, please focus on things which you know more. Happy investing  or hedging if that’s the right word.

written on 2 Sept 2015

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AMRO is the ASEAN+3 Macroeconomic Research Office (AMRO). It’s vision is to be an independent, credible and professional regional organization acting as a trusted policy advisor to members in the ASEAN+3 region, which includes 10 member states of the Association of Southeast Asian Nations (ASEAN), and China; Hong Kong, China; Japan; and Korea.
Please visit their website here. Lots of updated articles for reading.
The below is their latest commentary.

AMRO Commentary: Helping the Asian Workforce Emerge Stronger from the Pandemic

Millions across Asia have lost their jobs since the COVID-19 pandemic broke out early last year. One year on, the uneven and weary path to economic recovery continues to cast a shadow on the prospects of the labor market.

Unemployment rates across the ASEAN+3 region, comprising the ten ASEAN economies, China including Hong Kong, Japan and Korea, spiked up last year as many economies shut their borders and imposed restrictions on movements to prevent COVID-19 transmission.

Although unemployment rates have declined in recent months, they have yet to return to pre-pandemic levels in most regional economies. In Singapore, unemployment shot up to 3.5 percent in the third quarter of 2020, even higher than the 3.3 percent encountered during the height of the global financial crisis. It has since fallen to 2.9 percent. Other regional economies experienced an even sharper hit. The Philippines’ unemployment rate reached a record-high of 17.6 percent in April 2020, before falling to 7.1 percent in March 2021. In Malaysia, the unemployment rate peaked at 5.0 percent in April last year before moderating to 4.7 percent in March 2021.In addition to high unemployment rates, labor force participation rates fell, implying that many gave up on their job search altogether. Overall, employment dropped sharply in several regional economies, more so than at the nadir of the Asian financial crisis.

The unprecedented scale of job displacements and lost incomes is expected to have far-reaching economic consequences. With lower or even no incomes, families have to draw down savings to pay their bills. In turn, impaired household balance sheets have implications for financial stability—especially if interest rates were to rise unexpectedly, and mortgage payments suddenly become too high, households may be forced to default on their payments. These factors could pose a threat to recovery by suppressing consumer sentiments and weighing on private consumption. They could also lead to worsening inequality and rising poverty.

Uneven impact across sectors
To date, job losses have been very uneven across sectors and segments of the population. Workers in the region’s manufacturing and construction sectors were affected early on. But, the most severe job losses have been in the services industry, especially the retail and tourism sectors, which require high levels of close proximity and face-to-face contact.

On the flip side, employment in some sectors has actually increased. They include agriculture, healthcare, and social work, as well as in digital and digitalizable services, such as information and communication, e-commerce, and business or financial services.

Within the ASEAN+3 region, the shock to the services industry has been particularly dire as a large part of services employment takes place in the more vulnerable segments of smaller enterprises and informal businesses. In Singapore, small and medium-sized enterprises accounted for 70 percent of total employment in 2020. Many of them have weaker balance sheets and are more vulnerable to liquidity shocks. In many emerging ASEAN economies, such as Cambodia, Indonesia, Lao PDR, Myanmar and the Philippines, informal employment may be as high as 90 percent of total non-agricultural employment. So, job losses could be even greater than what the official data reveal.

We also observe differentiated labor market effects across segments of the population. The younger workforce bore most of the job losses while elderly employment picked up in some aging societies, such as Hong Kong, Japan, Korea, and Thailand. In some countries—notably Japan and Korea—employment among female workers suffered a big blow, likely because of a higher share of female temporary workers and an increase in childcare needs at home due to school closures.

Much-needed support to the labor market
To address the acute and uneven downturn, governments in the region have rolled out policies to prevent further job losses over the past year. They include the Employment Support Scheme in Hong Kong, the Job-Retention Program in Korea, and the Job Support Scheme in Singapore. Job losses would have been significantly higher if not for these support measures which provide financial incentives for employers to retain workers, by subsidizing wages for targeted groups of workers, and supporting training and skills upgrading.

While efforts to revive labor markets have shown progress, a full recovery will hinge on the ability of economies to adapt to new realities and realign their labor markets, as well as the pace and availability of vaccinations. Reaching herd immunity through mass vaccinations would allow most economic activities to resume, thus enabling a return of jobs in hard-hit sectors.

The pandemic has left a trail of job casualties in the ASEAN+3 region. As labor markets continue to recover, policies will need to shift from protecting lives and livelihoods to safeguarding an inclusive, sustainable recovery. The policies should be formulated carefully to avoid prolonged labor market weaknesses, which could exacerbate widening inequality, especially when government support is rolled back.

The acceleration of digital adoption over the past year will likely sustain demand for workers with relevant skillsets. To support displaced workers, policymakers in the ASEAN+3 region should adopt long-term strategies to enhance the adaptability and resilience of the workforce, by leveraging on opportunities and preparing the workforce for the changing skillsets required in the digital era.
Once restrictions are lifted, some jobs will return, others will be gone, and new jobs will be created. Appropriate policies and support will help the workforce emerge stronger from the pandemic.

— end of commentary —
Remember to visit their website for more news too.

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Henry Butcher Malaysia Perspective 2021

Press Release: Henry Butcher Malaysia Perspective 2021

DATE: 1 FEBRUARY 2021

PRESS STATEMENT ON THE RELEASE OF HENRY BUTCHER MALAYSIA  PERSPECTIVE 2021

The Henry Butcher Malaysia group is pleased to present its annual report on the review and  outlook for the Malaysian property market in 2021.

Mr Tang Chee Meng, the Chief Operating Officer of Henry Butcher Real Estate said “overall, the property market in 2021 is expected to be flattish or record a slightly better performance  than 2020, as the start of the vaccination programme in the country would help in controlling the covid-19 pandemic and start the economy on a recovery path. However, with the recent  rise in infections and the implementation of MCO 2.0 and the declaration of emergency, the  hoped-for recovery may be delayed till 2022. He also presented the key highlights of the report:

RESIDENTIAL SECTOR

• The overall situation is expected to continue to be challenging as the pandemic has yet  to be brought under control and the political situation in the country is still full of  uncertainties. In fact, MCO 2.0 has affected businesses and dampened investors’ and  consumers’ confidence and this will delay the recovery of the market, if the MCO is  prolonged.

• The positive thing to look out for is the rollout of the Covid-19 vaccination programme,  expected to commence after receipt of the first batch of vaccines expected by end  February. Once herd immunity is developed, the economy and consequently, the property  market will be able to stage a sustained recovery. Further, buyers may take advantage of  the current low interest rates to buy their dream homes and housing developers are  expected to intensify their marketing efforts to push sales before HOC 2020 ends in June.

• The lockdown during the MCO has made property developers realise that they cannot  depend on traditional methods of marketing alone and many, if not all developers, have  added digital marketing tools and technology to their marketing arsenal. This will help  them in the long run to reach out beyond the local market.

• Foreign investors may also return to the market once international borders are lifted. • The advent of the work from home culture has made internet connectivity as well as  private work places within the home very important considerations in house design and  new homes rolled out by developers from now on would likely place more emphasis on  this aspect of home design.

• Landed residential properties are expected to remain in demand whilst the huge overhang  of high-rise residences, especially serviced apartments, will make this segment of the  market more challenging.

• More developers have re-focused their attention on affordable homes priced under  RM500,000 and this market segment will continue to be the main focus in 2021. • The commencement / completion of various major infrastructure projects such as the  EKVE (East Klang Valley Expressway) scheduled for completion in Q3 2021, the Rapid Transit System (RTS) as well as the Kulai Iskandar Data Exchange (Kidex) projects in  Johor, the ECRL and the Pan Borneo Highway in East Malaysia will boost demand for  properties located near the interchanges of the highways or within the vicinity of the  developments.

OFFICE SECTOR

• Even before the pandemic, the office sector in the Klang Valley was already experiencing  some downward pressure on occupancy and rental rates due to the substantial new  supply that has come on to the market over the past few years. The oversupply situation  was exacerbated by the adverse impact of the pandemic and the ensuing lockdowns on  the economy imposed by the government to curb the spread of the covid-19 virus. The  government’s directive to companies to adopt work from home practices for their staff as  well as business closures and the poor business outlook compounded the problem as this  led to companies deferring expansion plans and an overall decline in demand for office  space.

• The future completion of a number of mega office projects currently being built eg.  Merdeka 118 by PNB and a few other private developments will add substantially to the  supply of office space in Kuala Lumpur, putting additional pressure on overall occupancy  and rental rates.

• The increase in vacancy rates of office buildings in the Klang Valley may however lead to  some developers shelving or deferring their office developments and this will ease the  pressure on the oversupply situation.

• The office market in smaller towns like Ipoh, Kota Bahru and Kuala Trengganu are  however fairly stable due to limited supply of purpose-built office buildings and no or very  little new supply coming onto the market.

RETAIL SECTOR

• A total of eight new shopping centres and two mall extensions were opened in the Klang  Valley in 2020, putting an additional nett floor area of more than 2.7 million sq. ft. onto the  existing supply

• The retail sector in the Klang Valley will continue to see a shakeout where poorly designed  and malls in inferior locations will be forced to close or be converted to some other  alternative uses.

• New shopping centres will face challenges in filling up space and some may defer opening  if they are unable to open at a satisfactory level of occupancy.

• Many retailers, unable to sustain operations during this difficult period, took the  opportunity to close unprofitable outlets, downsize or stopped operating completely and  this included venerable established names like Robinsons and Tangs.

• New malls with foreign retailers making their debut in Malaysia will offer shoppers new  choices and different shopping experiences which will help to draw customers.  • Some of the new retailers/restaurants opening in Kuala Lumpur are Taco Bell (Cyberjaya),  Tom Ford (KLCC), Five Guys (Genting Highlands), David Rocco (Suria KLCC), Don Don  Donki (Lot 10) etc

INDUSTRIAL SECTOR

• The industrial sector was not spared by the pandemic as supply chain and production  were disrupted by the SOPs implemented under the various phases of the movement  control orders. All was however not doom and gloom as manufacturers of gloves, face  masks, PPE equipment, health equipment and products benefitted from the increase in

demand for such products. Warehousing as well as logistics service providers also  benefitted from the e-commerce boom experienced during the lockdowns.  • Despite registering a decline in the volume and value of transactions, the industrial  property sector was the best performing of all the property sectors.

• With the start of vaccination programmes in many countries, the pandemic may be  brought under control and this will spark a revival of the global economy and benefit major  exporting nations like Malaysia.

• The industrial property sector is expected to see a recovery in 2021

HOSPITALITY & LEISURE SECTOR

• The tourism sector was one of the most badly hit economic sectors as foreign tourists  were not allowed into the country as part of the government’s efforts to fight the covid 19  pandemic. Domestic tourism also dried up during the period of the MCO when inter-district  and inter-state travel were prohibited and only recovered when the travel restrictions were  lifted under the CMCO and RMCO.

• Hotels and tourism dependent businesses were badly affected and many hotels either  went on a cost cutting or retrenchment exercise or closed down completely. More than  200 hotel and tourism operators have shut down operations since march 2020.

• The cancellation of Visit Malaysia Year 2020 dealt a huge blow to the tourism industry • Until international borders are reopened and domestic travel restrictions are removed or  at least relaxed, the hospitality sector is expected to continue to go through very tough  times and will unlikely be able to see any sustained recovery in 2021

Mr Long Tian Chek, the founding partner and director of the Henry Butcher Malaysia group  expressed his hope that the government will extend the HOC and continue to come up with  additional measures to help the property industry tide through this difficult period and stage a  sustainable recovery.

The full report can be downloaded here.

— End of Press Release —

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Here are just 5 reasons why the new norm cannot be to abandon the offices and just WFH.

Too many people kept saying that new normal means everyone and most companies will now abandon their office and will now push towards working from home. After all, companies could save on rentals… right? Employees meanwhile could continue to be very productive when working from home versus facing traffic jams daily…right? My personal opinion remains the same. The new normal is one where flexibility is now compulsory.

Companies and employees will now have to be prepared to work from home. Prepared meant if there’s a need. Prepared means employees would now know that if they need to work from home, they could sign up for that particular broadband package and the company will pay for it. Prepared means companies will strive to provide their people with a notebook which is good enough to work from home. Prepared means, being prepared. Period. Oh yeah, let’s go into the 5 reasons in my opinion why new norm does not mean everyone will work from home.

Hello… is it me you’re looking for?
 (If you smile and know this song you are my generation) You just needed a quick confirmation from a colleague. Instead of using zoom (or any other online meeting software), you reached for the phone. The person you call did not pick up the call. 2 hours later, he called back. He said he left his phone somewhere and it was on silent mode. (you believe or not?) By the way, you have already decided to proceed and no longer needed his opinion. What if now when you told him, he gave you a valid reason not to proceed??

We can’t hear you…
  You were in a zoom with the management team. Your line was not stable. Half the time you could not hear that important announcement by the CEO. Suddenly, the GM typed in the chat room to everyone that he could not hear anything. CEO asked again, can everyone hear me… Let me repeat…  And you still could not hear and you were supposed to be the person in charge for this project. Everything repeats just once every 5 meetings. Haha…

We could not see you….
 You wanted to know if your team is actually listening or were they doing something else.  You asked all participants to switch on their videos. A few says their line is very slow, if the video is switched on, then they may be out of the meeting altogether.  So, what do you want to do now?  Keep talking and perhaps ask them questions? If they could not answer and said the line was not clear just now, what would you do?

Distractions, aplenty.
Sound of chicken (from next door), sound of kids crying (maybe from outside your room door), sound of your partner shouting at the neighbour who did something awful and the argument starts. There’s also that important meeting and the food delivery man arrived and ‘Ding Dong’ Ding Dong’ and you have to rush down to open the door, take the food, drop it somewhere and rush back to the meeting and missed what your GM shared for the last 60 seconds. (That’s 150 words or more…) Perhaps there are even more of others but you get the idea.

Could NOT reach the customer.
 Guys ah, if you work from home and the customer is also working from home, the above situations will continue to happen.  Your effectiveness and efficiency goes down and well, many times the customer also feel that they were not being served as they shouldl. When this is happening to many more people and their customers and their vendors it is not good for the economy as a whole yeah.

This is why when lockdowns were lifted, traffic starts going up again. This is why business meetings would still be much more preferable at a nice cafe or a nice restaurant. No shake hands, definitely but that 1 hour conversation will be much more effective and productive and not to mention, much more emotionally attached too.

Let’s not look at others. Let’s look at ourselves. We wanted to buy a property. It’s half a million ringgit. One real estate agent sent us a 3D 360 virtual tour video and says that the video will give us a good idea. Another said that social distancing may be in place but he could meet us at the site and he could explain to us via mobile phone as we drive behind his car. After driving around the township, he showed us the actual show unit which was on the site itself. All of us wore face masks.

Right after that viewing, we adjourn to the nearby mamak restaurant to have teh tarik with social distancing of course. Which one would we most likely be buying from? The world has not changed. Norms have not changed. It’s just a situational change and normalisation will start when things are no longer as critical. Happy understanding.

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Here’s the money / incentive for a new car. Go get one.

Nolah, not in Malaysia. At least not yet from the government. Already announced RM260 billion stimulus. Not so soon lah. How many of you think that you want to buy a car right after the Movement Control Order (MCO)? Well, considering the fact that I have two cars and I barely drove one every 5 days for 5 minutes, I certainly am not thinking of buying a new car. That’s the issue though.

When many people are like me and they think like me, then the car sales will stagnate. When the car showrooms do not sell as fast as they did previously, they will order fewer cars from the factory. With less orders, the factory would have to hire fewer people or even let go off some surplus head counts. This is the same for the car sales person. Their job may not be secure too. what could the government do?

Article in edition.cnn.com
   The report says that in a normal year by the month of April, China would have sold more than 6 million new cars. The number for 2020 is only at 3.7 million.    Only 1.43 million cars were sold in March 2020 and this was a 43% decline versus the year before. To help the car industry to get back on its feet, Beijing has announced last month that it would extend subsidies and tax breaks for new energy vehicles, such as electric or plug-in hybrid cars, for another two years.

This is not all. Local governments are also doing their part too. At least a dozen cities or provinces have encouraged people to buy cars, mainly by offering cash subsidies of as much as $1,400 (RM6,067) per vehicle.  There are expectations that order for cars will return when schools reopen.  Ferrying children to school is said to be a major reason why the people of China buy cars. Please do read the very comprehensive report here in
Article in edition.cnn.com

What do you think? Should the Malaysian government also think of ways to help the car sales? Maybe we could / should but I think that’s well after the MCO is fully lifted.  Definitely not now.  The focus  should be on ensuring as few people as possible lose their jobs. Making sure as low as possible the number of SMEs who will have to close their business as this will also help to lessen the number of people who would lose their job.

As for the incentive to buy cars, I think it should still be skewed towards those who need it more. As for the car owners who need to continue to show people that they are doing well, please do not stop changing cars every year okay. Thanks for helping the economy as well as giving a chance to those who could not afford a new luxury car but still wanted to buy a luxury car the chance to buy that car from the secondhand market. Happy zooming (i meant driving and not that zoom video okay…)

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Protect Penang’s Heritage buildings for the future generations

One major reason why Penang looks majestic to many tourists is because it has lots of heritage buildings. Taking photos with these buildings meant a photo which may look like a postcard picture. Creative camera angles may even fool some friends into believing that we went overseas. Well, there were a few articles recently in the Malaysian media about the ownership of these old buildings. It seems many of them were being sold to foreigners, in this case Singaporeans. Many of these buildings were sold “by the rows.” As they were buying these buildings at a premium, once it has been spruced up, the new rental rates are said to be 500 percent the current rent. Do read some of the related articles here:
Penang’s Heritage Site Under Threat
or this one
Speculators put Penang’s Heritage site at risk

Another good article to read: Penang-

Whose version of Heritage?

Take a look at a very nice image (left) from
propertyinsight.com.my
 According to my good friend Michael Geh, International Board Member at Fiabci has this to say,
“When Locals Are Unable to Economicaly Restore & Adaptly Use their inheritance… Selling Out is A Natural cause Of Action.”
Briefly, Michael is a passionate Penangite. As long as it is a development for the benefit of Penang, he would always be supporting it. However I think he would be much more passionate to protect Penang’s Heritage buildings if they belong to locals instead of foreigners. We should do our best to protest this status because this is one major catalyst for Georgetown to be a major city visited by tourists into ASIA.

We can adopt the suggestion from George Town Heritage Action co-founder Mark Lay which was lobbying for state laws to prevent heritage property owners from raising rentals by a huge percentage. Lay said that laws similar to the repealed Rent Control Act 1966 is now needed. Else, we are looking at inflation of heritage property rentals. Without this, Georgetown would soon be too expensive to live in. In fact Lay shared that old cities in Europe limited rental increases to 10% per year.

I do not think a rental of just RM1,700 for one whole two-storey or three-storey shophouse is fair to the owners. However, I do understand the cost of refurbishing these old buildings is exorbitant and many owners were unable to do it profitably. Perhaps this is where the state government can step in as the custodian of Penang’s UNESCO Heritage City status. They should connect these owners to experts who can help to refurbish these old buildings at a much lower cost that what was reported in the media. When costs are exorbitant, the easiest way out is just to sell and take profit. Let’s wait for custodian to announce some new measures to protect Penang’s Heritage City status.

written on 23 June 2016

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Heritage property: Limited units mean limitless price per sq ft?

When I was still in Penang many years ago, an agent told me that one Singaporean company had just bought one whole row of old shophouses for RM200,000 per unit. These units were dilapidated and in need of huge repairs before it’s usable for any purpose. Today, even I would be willing to buy if there are such deals of RM200,000 per unit. Sadly, such units no longer exists. For those owners who bought earlier, they are now smiling happily. Reported in a local daily, my good friend, Raine & Horne Malaysia senior partner Michael Geh said that, “The most expensive pre-war property, with a 1,363q ft land area and located in Chulia Street, was sold for over RM2,000 psf.” Do note that this price does not yet include the restoration and renovation costs.

With the value of heritage properties continue rising, Michael’s advice to Penangites is that they should start paying attention to the potential capital appreciation. This isn investment not to be missed because the supply of heritage properties is limited. As per Georgetown World Heritage Inc, there are only 3,853 units of such properties in George Town’s heritage core and buffer areas. Thus, potential for the prices to rise is higher than for it to fall. The areas that investors should pay attention to would be the Prangin Market or Sia Boey area. This is the area that has been earmarked for the location of the central LRT station on the island. On a longer term basis, this will boost the value of properties in the area.

So, the question is how much higher that the price could rise or should rise? The first thing that comes into my mind for the best utilisation of these heritage buildings would be for a hotel. Have you noticed how much they charge per night? Yes, some are priced even higher than a 5-star hotel. However, if the prices continue to increase, I couldn’t think of many businesses that would be able to survive. A very brief example. If a fully restored 2,000 sq ft heritage building costs RM2 million to buy and RM500,000 to restore and the buyer was able to obtain a 90 percent loan for it, the total loan repayment per month would be as per image. It’s a mortgage calculator by calculator.com.my Some assumptions made.

RM12,000 is only for the rental per month. This has yet to include the salaries, utilities and all other miscellaneous expenses. Let’s assume all these expenses come to just RM6,000 per month. The shop owner wants to only earn a net profit of RM5,000 per month. This shop has to get a total net profit of RM23,000 per month. Assuming it’s a noodle house with a RM3 profit margin per bowl, the shop would have to sell a minimum number of 7,667 bowls just to net the owner RM5,000 in net profit. This is 256 bowls per day or 22 bowls per hour. Doable? Yeah, still possible assuming the owner wants just RM5,000 in net profits per month.

From this calculation however, the type of business is extremely important and not every business could be done as soon as the prices hit a certain level. Please understand that when people started to buy a few years ago, the entry price was lower. Happy thinking about heritage properties as long as we buy with our eyes wide open and not buying because the number of such units are limited. Cheers.

written on 6 Apr 2016

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Heritage Village – Paradigm Mall has kuih koci!

I loved kuih koci when I was young. I still loved it today but these days, I seldom see it. Perhaps because it’s so hard to a perfect one or the process is long, I have no idea but kuih koci is becoming extinct! Today I visited Heritage Village for the second time and they told us that the dessert is finished, thus they are substituting with a nyonya kuih of our choice. I chose Kuih Koci. 🙂  Ok, I remembered, I must talk about kopi or latter right. Apologies, this will be an exception for a very long time. There’s no KOPI in this article. Haha.

Their Ais Bandung is nice too! Not too sweet, not too thin and not too much milk. Try it if you love ais bandung. As for their food, the Curry Mee which they said is Penang curry mee is totally different and nowhere near Penang. However, their nasi lemak rendang…. The cucumber is nicely cut, the sambal is not too salty and the rendang chicken is ngam ngam ho! The rice is the only let down. Tho aromatic, it was a tad too dry for me.

Would I visit Heritage Village again? Yes I would. Their sets are value for money!

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HERO…. is here…. Damansara Damai.

It has an Ultraman statue right in front of its entrance. Yes, Ultraman is definitely a HERO in my mind. I still remembered when my brother and I cried during one of those episodes when Ultraman was ‘killed’ by an ugly monster. Fortunately, he was saved in a later episode. Haha. HERO Market is a supermarket chain which has been quite successful. I usually go to the one in Ativo Plaza but I think the new one should provide me with a nearer option during times when I just needed some late grocery shopping instead of a dinner and shopping.

HERO Market has just opened its door in Damansara Damai. You do not know where is this? Well, it’s nearby Sri Damansara and bordering Sungai Buloh and right next to the Sungai Buloh toll (Exit 113). This new HERO store is bright and has a lot more choices than the AEON which closed a few months back. As it was just opened today, there were so many people we could hardly stroll and of course, lots of special offers including the a free box of Kellogg’s Froot Loops (350gm) with every RM50 receipt. Image attached. Oh yeah, my favourite water-melon was only 79 cents per kg which is a great bargain. Imagine trying to finish 1kg of water-melon all by yourself and it’s just 80 cents!

The downsides? The shelves were stacked for maximum stocks, thus it does not allow two trolleys to pass one another. One has to reverse to let the other through. The prices are of course generally higher than Econsave or even NSK except for those items on offer during that particular time. Econsave and NSK are not my favourite even if I do my grocery shopping there occasionally.  Plus the car parks seem to be limited. Hopefully it’s just because of today’s crazy number of patrons. For now, I love this new HERO store and hope that it will not be like the AEON which had to close and moved out a few months ago. Happy grocery shopping.

written on 7 Oct 2016

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Hey, do it well, sell it well. Don’t free so many stuffs.

I realised one common thing recently. Developers are giving more freebies and special deals these days. Okay, maybe not all developers but the numbers have certainly increased. For some, the value of the freebies are up to RM50,000. On one hand, these developers are saying that their margins are lower but here, they are giving out such freebies? Ironic right. Personally, I do not really like developers who sell much more expensively and then say they give 5 airconds etc. Come on, for anyone who has airconds installed in their homes, how much is 5 airconds anyway. Some would give renovation packages. I hate to say this, but the reason I renovate is not because I want my home to be exactly like the one on my left, the one on my right and the one opposite me!

I hope some of these developers would be able to see the big picture. The reason I buy your offering is because the location happened to be suitable, the quality is acceptable and the concept really do look good. I have never heard of any buyer who said their main reason for buying is because they get free aircons, free renovation packages or even potential chance to win a car. Haha. Seriously, if I needed a new car, I will buy a new car. In other words, the quality of your home matters tremendously. Instead of using a slightly cheaper material after you have offered all the rebates etc, why not use better materials, maintain your price and tell them to really understand the difference between a cheaper materials versus the ones that you are using? I think this works better.

There are also developers who are forever telling people that their prices are lower. Yet, their qualities are also lower. Come on, these days, do you still want to be labelled as ‘that kind of developer’? Every time you launch a new property you have to use price as your key differentiation. Buyers who may have blacklisted you may then give you another chance and as usual, regretted it later on. Fact is, land cost, materials cost, labour costs are almost similar. In other words, it just do not make sense that one developer can sell much cheaper even though it is in the same area as the more established one. UNLESS, they do less…..

Do it well, sell it well. There’s really no need for so much of free stuffs.

written on 4 Oct 2014

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Need to ‘hide’ money? London properties your key

London should be quite safe because she has James Bond who is on her Majesty’s service. Ok, that’s just in the movies. In reality, London properties may be an avenue for lots of unaccountable money from around the world. This is as per a report by Transparency International which has also published lots of reports about Malaysia too. It said that British property is owned by lots of secretive companies which are registered in offshore secrecy havens such as British Virgin Islands, Jersey and Isle of Man. The number is huge. It said that a total of 36,342 has such profile. One of the worst? Well in the district of Westminster, almost one in ten are such questionable ones.

Now comes the most important point. It said that this may have been the cause why property prices have been on an uptrend. This is very troubling for the current government because of Britain’s upcoming election in May. In fact in London, the people have been complaining about the lack of affordable properties for some time due to the record prices thus far. Read here:
Londoners, homeless. Malaysian caused?

Transparency International is urging the government to make the Land Registry to require transparency over the owners of these companies. This will ensure Britain not become a ““the destination of choice for global corruption”. Recently, some reports have been published about how a top British bank HSBC helped their wealthy clients evade tax.

Personally, I think this does not happen only in London. It happens in any international property market which is open enough for foreigners to buy. Should these countries say no then? If I have a property which a foreigner would like to buy from me, it is very unlikely for me to engage any private investigator to investigate my buyer. So, the answer is clear, even if many would say they do not like these buyers but would you know? More importantly, why should YOU be the one investigating the buyer of your home? Assuming a buyer wants to buy your home at a premium giving you huge profits and the government says no, what would be your reaction? Happy deciding.

written on 5 March 2015

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When 47 pct have high credit card debts and 40 pct are spending beyond their means

When 47 percent of youths have high credit card debts and 40 percent are spending beyond their means. This is a very powerful sentence and it’s extremely worrying. Hope everyone really read this and understand the implications.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz shared that 40% of millennials are spending beyond their means and according to Bank Negara Malaysia, 47% of Malaysian youths have high credit card debts. He said, “So think thoroughly about what is necessary and prioritise your purchases, whether it’s a new outfit or new phone, or, like what one of my nephews wants, a PS5, and you will find that every ringgit will go a long way.” This is that full article:
Article in theedgemarkets.com

Many other good points pointed out as well.  Tengku Zafrul said, “Warren Buffett famously said, ‘do not save what is left after spending, but spend what is left after saving’.

Tengku Zafrul said, for example, if a twenty-year-old wish to have RM1 million in savings by the time he or she turns 60, assuming an annual return of 6%, he or she would need to save about 500 ringgit per month.

He said according to the Employees Provident Fund (EPF), 50% of EPF members have less than RM200,000 in their accounts – lower than the average of RM240,000 that members should have in basic savings, when they reach age 55. To read the full article, please read here:
Article in theedgemarkets.com

Credit card can be a convenience and a danger at the same time

Credit card gives a lot of convenience. Carrying too much cash all the time is not a good idea especially when we travel. However, using it responsibly is not easy. It’s quite easy to spend above our means with credit card because we do NOT need to pay in full every month. Usually, the credit limit is also 2x or higher or our income which meant that the danger of overspending is amplified. There are also so many instalment plans where RM200 seems affordable but that’s for 24 months.

When we travel, we may not realise how much we were spending with credit card until when we receive the statement one month later. This is why we need to be responsible with the usage of our credit card(s). The question is, ‘would I finish paying it when the statement comes.’ If the answer is yes, then we could spend it. If the answer is no, perhaps think three more times, delay the decision for one more week. Maybe you actually do not need it.

Important reminder

We have many resources which we could refer to to manage our finances. For example, this is a website with a personal finance focus:
ringgitohringgit.com
 We could also learn how to invest in stock market without all the speculative (earn huge or lose huge). Learn the basics from
dividendmagic.com.my
  Do note that the views of these bloggers do not necessary represent views of kopiandproperty.com but are good reference points. As for those who prefers to look at property, then do continue to read
kopiandproperty.com
 Happy leading a financially stress-free life.

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High Density, 1,244 units, 85% take up though starting from RM561,800.

Many people said they prefer lower density condos. I told them, as long as it is well designed you should seriously think about higher density condos as well. For example, 600 units or above is also considered okay. I was talking about secondary properties but today Mah Sing showed that with a good brand, a sufficient good plan and a price which is still considered ‘affordable’, it will still sell easily. Again, this has demonstrated the resilient demand and the reason why transactions are slowing down is simply due to affordability and not due to demand slowing down.

Reported in The Star today, Mah SIng Group launched their Lakeville Residence in Taman Wahyu, Kepong. The project has a GDV of RM1.5 billioncomprising 6 towers of residential and commercial products with a lakeside living theme. 4 blocks were launched with a total of 1,244 units and 85% was taken up. Of course, some would eventually fail in their loan application but 85% is indeed a very encouraging number indeed! Two more towers are now opened for registration of interest. More than 9,000 people turned up. I have not seen such a crowd for a very long time. I think some property shows may not even have 9,000 visitors! In terms of connection, Lakeville is connected via Jalan Ipoh, Jalan Kepong, DUKE Expressway and the MRR 2. It is just 15 minutes away from Kuala Lumpur City Centre.

I believe there are still those who think that such a high density project, how can it be a healthy development? I do not wish to elaborate too much. Suffice to say that if you can afford a lower density condo, then sure go ahead. A friend told me that she will be buying a RM740,000 landed property in Kota Kemuning. It would thus take her 40 minutes to arrive at her office or she has to leave very early. She said it is ok but she is worried on the mortgage part as she would be paying RM3,500 per month for it and would not have much savings. I told her, it is ok, as long as you love the development should go ahead. Personally, I would prefer a slightly smaller place at another newer area while preserving sufficient funds for another smaller property for rental. No issues to upgrade in a few years’ time. High density? Ok for me.

My previous condo in Penang was considered a high density condo, I enjoyed the facilities a lot and there were never any time when I felt the pool was so full of people. My current condo in KL is also considered high density. Yet, I love the facilities and have never felt that it was too ‘populated’. Perhaps I was just lucky. However, if it is my first property, I would be one of the buyers of Lakeville last weekend.

written on 18 Aug 2014

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