My First Home Seminar

There are seminars about buying property every weekend these days. In fact many are conducted by ‘property gurus’ whom you have never heard before. I am not saying they are no good but would you want to attend one where all the speakers are equally good? The below seminar is a special CSR by GM Training Academy for Penangites. It is targeted at first time home buyers and if you run through the questions that they will answer for you, then you know that this is something you do not want to miss. Furthermore, I have personally gained a lot from listening to the below distinguished speakers. Please refer below for full details.

21st June 2014, Penang

As part of our company Corporate Social Responsibility (CSR), we will be organizing My First Home seminar in Penang. As a first time purchaser, we understand the hassle of buying your first property. Normally you will have more questions than answers…..

Where to buy?

How to buy?

What is the process from buying to disbursement of my loan?

Am I eligible to borrow from the bank?

How much can I borrow?

I do not have down payment, can I still buy?

What type of bank packages is available?

How much is the legal fee?

I do not understand the terms in the Sales and Purchase agreement?

and many more

This is why we are organizing this seminar and invites property experts in their related industry to share with you their experience from buying your first property to getting financing from the bank and understanding the legal aspects. This seminar is FREE to the public. Who should be attending?

First Time Home buyers

Real Estate Agents

Anyone who wants to learn and help another person in need.

Our Speakers…..

Michael Geh

Property Expert

Senior Partner of Raine and Horne International, Zaki + Partners Sdn Bhd.

Miichael Yeoh

Author & Mortgage

CEO & Founder GM Training Academy

Chris Tan

Legal Expert

Managing Partner Chur & Associates

Admission for this Event is FREE

Yes you heard us right. As seats are limited please reserve early to avoid disappointment.

Date:                   21st June 2014

Time:                  2pm – 6pm

Venue:                Penang Island (to be notified soon)

Contact:              04-646 0636

Registration:     Fill in the forms here:  below or

sms to 012 476 0519  MYH_<Name><Contact><email>

* This is not a preview talk.

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My ‘forced’ savings worked for me. What about for you?

In 2003 (yes, 17 years ago), my wife and I jointly purchased our my first property. It was an apartment of 730 sq ft. The name of the apartment was Villa Kejora in Relau, Penang. From the balcony, if I stretch my head out a bit and look a bit further, I could view the construction progress of my second property which was a condo of 1,258 sq ft. This first property for me was also RIGHT NEXT to the apartment my wife and I were renting then.

So, I did not need to engage any lorry services. I merely borrowed a trolley from my office and actually pushed some of my belongings from my rented apartment to my newly bought apartment which was like 500 metres away. As it was a rented place and it was fully furnished by the very nice lady owner, there were not a lot of things to move anyway. Want to know the price of my first apartment today?  Please refer to the
image below from brickz.my

Our forced savings?
  When we were still renting, we were paying RM550 per month. After we bought the place, our monthly mortgage was around RM600. Maintenance fee was around RM133. (I think so…). So, in total, we were FORCED to pay RM733 every month or an extra of RM183 over our rental of RM550 per month. We stayed there for around 5 years before we could move to our upgrade home in 2009.  5 years x 12 months x 600 =
RM36,000.
(This is my actual forced savings)

Our loss from maintenance fees paid?
  RM133 x 5 (years) x 12 (months) = RM7,980. Ouch… not a small amount too, yeah? Enough to for an overseas (ASEAN) holiday for two.

Our loss from renting?
 If we kept renting, we would have paid 5 years x 12 months x RM550 (assume rental cannot go up) = RM33,000.   This amount would have been lost forever and I could not sell the rented property later on even if I wanted to. It’s not mine…

Our gain from capital appreciation?
 We sold the apartment 10 years later for RM215,000. The surplus from price sold minus price bought was RM92,000. Minus the RM7,980 for maintenance fee and that leaves us RM84,000. Divided into 10 years, the increase per year was RM8,400 per year. To get RM8,400 returns per year, even based on a Fixed Deposit of 4%, one would need to save into the bank an amount of RM210,000 and leave it untouched for 12 months.  Question is, do we have RM210,000 cash now or could we just afford a RM18,000 downpayment for a home instead?

Three things I gained from the purchase of my first property.
Number 1
is that when we are forced to save, it will usually help us in our financial management too. I realised that after buying the house, I always have to think thrice before I decided to buy any technology stuff, before I decided to go for any holiday and even before I decided to eat something fancy every week which will cost me hundreds of ringgit. All those stopped and I realised I could save even more money than just the forced savings for my home loan.

Number 2
 was that I start to realise that property investment is a hedge against the value of money.  Everyone said the value of money is on the way down. I truly agree.  That is why the salaries go up and that’s why property prices move up too. Thus, by buying that property, I did not lose any of my wealth and in fact built up some extra too over the next 10 years.

Number 3
 was that I realise that the first property is usually not the perfect property. It may be too small once our family starts growing. It may start to feel insufficient once our salary goes up and we think an upgrade is now necessary. We may even need to move when we change jobs! Now I know what those property guru said when they said, buy and stay first. Upgrade later.

So, just buying that affordable apartment was what started my property investment journey. Would it work for you?  I think it will work for any working professional who wants to force themselves to save some money because if they did not force this savings via an affordable property, the money would go missing somewhere and after some time, it becomes M.I.A (missing in action) too. Happy following and starting that property investment journey. Cheers.

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When my home sweet home is a small-sized unit. Less than 500 sq ft?

What was the size of your first home sweet home? A single room of 150 sq ft? With a single bed and a study desk and perhaps an attached bathroom?  What’s the current size of your home sweet home? A landed double-storey terrace with a total built-up of 1,800 sq ft? Within a gated and guarded community? With a playground for kids of another 20,000 sq ft?

Perhaps you are now staying with your family and that’s a total of 4 people? Then, everyone in the family gets 450 sq ft per person. This is still 3x better than when you were till a student and single. This is Malaysia and we are lucky.

Photo by Burst on
Pexels.com

In Hong Kong, this was what a man said after moving into a 290 sq ft subsidised home which he could only stay for 2 years. He said, “It feels like a home.” He added, “The previous flat was only a place to sleep.”

Actually, just reading the sentences made me tinge with some sadness. This man feels so grateful that he could finally move into a flat of 290 sq ft. And he said he used to own just a place to sleep and now he has a home. By the way, he stays with his wife and a son. Read on.

Article in thesundaily.my
  When Lau Kai Fai, his wife and teenage son moved into a new Hong Kong flat last month, he thought the 290 square feet (27 square metres) of space in his “module home” felt like “winning the lottery.”  He used to pay HK$5,000 (RM2,686) for a 80 sq ft subdivided “coffin homes.” Now he pays HK$3,000 (RM1,612) for his 290 sq ft home.

Lau is a beneficiary of Hong Kong’s latest initiative to ease housing shortage where people have to wait 5.5 years to get public housing. The transitional homes are build on idle land leased by the government or private developers for a few years. The prefab modules could be moved and reused if needed in the future.

This ‘lottery win’ is more than 3 times Lau’s previous home of 80 sq ft. The home was built from container-like blocks for just 40% cost of building a public rental home. This land which the homes were built on were leased by developer Henderson land for HK$1 a month. Lack of land and money are making it hard to build more transitional homes. Do read the full article here with more details:
Article in thesundaily.my

This 3 times bigger home which Lau was given an opportunity to rent will only be for 2 years even if he would like for it to be extended forever. There are others like him who are waiting for their turn to live in such a home sweet home.  There are an estimated
200,000 people living in “coffin homes” in Hong Kong. (read here for the article)

After this 2-year term, Lau and his family would have to move out, either to public housing or back to their subdivided coffin home. This is indeed a sad thought because every passing month means a closer date to move out of this 290 sq ft home which Lau’s family enjoy tremendously currently. I think as Malaysians, we should always be grateful that we are not facing such a situation where an opportunity ti stay in a 290 sq ft unit is a home sweet home.

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My investment portfolio – today.

Everyone has their personal investment portfolio. Some write it down in excel and keep updating it. Some would ask the wife to keep track. I did start an excel sheet which I listed down things that I invest every month but I guess I no longer update that sheet. Despite the fact that I seem to love property tremendously, I do not put 90% into property. That might be suicidal. I have the following investments that I do on a monthly basis.

Fixed Deposit. This is the only portion that I do not keep adding on a monthly basis. I think I have enough for 6 months if I lose my job but that’s about it. I feel that my unit trusts and stocks can easily take over this function of FD but just for FD’s sake, I did save enough for 6 months. Thus, on a monthly basis, it is zero these days.

Unit Trust. I started buying this many years ago. Now, on a monthly basis, 10% of my portfolio is unit trust. I do not buy just the bond fund. Far from it. I invest in no less than 6 different funds. Some of it selected by me personally while the rest set by my brother-in-law. There are advantage in having a brother-in-law who sells unit trusts. I also do not withdraw EPF for this purpose. I prefer EPF to be EPF.

Stock market. A lot of people ask, what stock do I buy. Are they blue chip? I said yes, but the blue chip that I buy is based on my own analysis. Three examples. 1) Zero Debts.  2)Something I know well  3)Preferably in a high growth industry (high end technology) or a must have industry; for example, pharmaceutical.  Thus far, I think I have done pretty well based on my own analysis. I roughly calculated that if I sell all my stocks now, I should double my investments easily and for the stocks I hold, despite current economic slowdown etc, it has performed well. None of them are speculative stocks which goes up and down a lot every week. This is 5-10% of my portfolio. It does not need to be Malaysian company but thus far, all of my portfolio are Malaysian based companies.

Insurances / savings plan. This is another 10%. So, yes, I save a lot. Beneficiary is my wife. I feel this is a responsibility even if the returns are just so paltry. My agent does not need to pester me. Normally I call and ask her to prepare a plan for me and she would just deliver it to me the next day. There’s a good plan by BSN. A 24 months savings plan which gives close to FD rate but is actually a savings plan. Go check it out.

Property. Hey, we finally reach my favourite. This takes up 35% at this moment. However, once I sell off my Penang properties, it should go down to just 20% of my income and I have room to buy other properties. I prefer this to be capped at max of 40% of my portfolio. Anything higher, I feel unsafe.

I did not include my car loan because the amount is not high. I drive a very good Segment B car; Persona. 4 years already and fyi, power windows are working just fine. This portfolio has been changing throughout the years. Stocks used to be very high until the day I started property investment which has been very positive thus far.

This is my portfolio at this moment but as I grow older I may adjust this to be even more conservative. Will update everyone in future.

written on 13 March 2014

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Before you do any investment, maintain your FD first

Alternatively, do read my
top ten most read articles

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My Ipoh needs an airport

Penang has industrial areas and for past few years, booming tourism due to the Unesco Heritage Award. Klang Valley is where everything is happening, latest, newest, tallest, biggest and more. There’s a city in between these two hubs, Ipoh. Penang airport is the 3rd most busiest, after KL and KK. Ipoh has an airport which has very few flights and very few connections.

There are a lot of plans for Ipoh. Medical tourism, education hub, manufacturing and even the property prices are rising. Do not be surprised, without RM500,000 or more, you are unlikely to buy any semi-detached property in a popular area. Nevertheless, whatever grand plans we may have, without one tiny little infrastructure, nothing will happen. Do you know that Ipoh has many universities? Do you know there are also many private hospitals? Do you know there’s a Sunway theme park in Ipoh? Do you know Ipoh’s food variety and deliciousness does not lose to Penang?

Well, not many people from outside Ipoh knows. Most of the time, Ipoh is just a ‘ngar choy kai’ and ‘dim sum’ city. I will write more on Ipoh food next. Back to this article. What is lacking in Ipoh? We seriously need a new airport. Not the current one which is not expandable. We need a new and bigger airport which can cater to regional flights. China, Singapore, Indonesia, Thailand and more.

It is impossible to attract medical tourists who must fly into KL / Penang and then take a train / coach to Ipoh. It is also plain foolish for students to enrol in universities in Ipoh but have to fly to Penang / KL and then take a train / coach to Ipoh. It is just not possible to tell as many people as possible that Ipoh has it all.

We need an airport. Not train stops. (Unless it’s bullet train). Once that happens, no one would dare argue with me again that Ipoh is just for old folks. Or that Ipoh’s food variety is just ‘ngar choy kai’ and ‘dim sum’. Or that there’s nothing to do in Ipoh when actually they feel holidays is all about flying…. not driving. After I brought one whole group of Penangites to eat the ba kut teh in Ipoh, they finished the soup twice and dared not say that ba kut teh is best in Penang. The first few words uttered by two Penangite friends after tasting the dry curry mee was, ‘can we order another one’. My GM went to Ipoh, tasted the white coffee, ordered a second glass and before we left Ipoh, got another packet and finished it before I get to SImpang Pulai toll. I rest my case.

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When units on my left and right are auctioned off…

Are there many units being auctioned off by the banks these days? With the slowdown in the market, many owners who overstretched themselves a few years ago due to Developer Interest Bearing Schemes (DIBS) may now feel the heat. What happens when we own a unit within a development which has just been completed a year or two ago and we start to see units after units being auctioned off to the market? Does it affect the market value of our unit? Assuming we are still able to pay our mortgages on time even if we may not be able to rent out the unit, yet?  I have the honour to pose this question to
Sr. Vicky How, the Founder and Principal of Propedia Consultancy.

(She’s from the same university as me! Though…. I am 10 years her university senior…)  Propedia Consultancy is a property consultant company which offer services such as sales and lease of property, property management, and valuation. In addition, she is also an invited guest speaker for special events and has been a trainer for Real Estate Agencies and also a coach.

Here’s her answer.

For owners and investors who bought properties enbloc under the DIBS schemes previously, Bank Negara Malaysia’s move to increase the interest rate by 25 basis point to 3.25% may affect them. This is because these properties purchased under the DIBS scheme are now completed and due for vacant possession but some of these property investors will be facing difficulties to service the higher loan installments.

When some of these property investors and owners default on their mortgages, this would lead to multiple properties in the same area or scheme being auctioned off at the same time. The aforementioned scenario begets the question whether the multiple foreclosures would affect the property value of other properties in the same area.

The answer is
YES
.

Let’s go back to the basics.  A valuer determines the value of a property based on past transacted price. Properties transacted through an auction in the high court, the land office and/or private auctioneer are still transactions that will be reported to the Jabatan Penilaian dan Perkhidmatan Harta (JPPH).

A valuer is required to analyse the most recent transacted price from JPPH and make the necessary adjustment to the value of the property. If there are too many properties from the same area or scheme which are transacted at low purchase prices, it will affect the valuers’ decisions for subsequent transactions.

The valuer will also factor in the demand and occupancy rate in the area as well as the risk factor that other properties in the same area or scheme will be auctioned off.

Given the above, it may be wiser to buy in areas or scheme where the occupancy rate and/or demand is high. Even if the property units are bought for investment purposes, as long as the property units are occupied by tenants, the risk of owners/investors defaulting leading to the property being auctioned off will be less.

— thank you Sr. Vicky How. —
 Do connect and learn from her yeah.

Let us understand that
property prices do not change if there are no transactions.
If there are transactions and most of these transactions are at lower prices, then the average property prices or even the

median property prices will be on a downward trend.

Many times, the property being auctioned off may not get any bidder for the first auction. The reason is because the first auction is usually close to the market price. Subsequent auctions would be at 10 percent lower. Sometimes, with a slow market, there may also be fewer motivated buyers too. We should also be savvy to the fact that for some popular areas, slower market does not mean anything. Any available unit would still be quickly snapped up.   Happy understanding and buying.

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written on 23 March 2018

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Condo prices, bank valuations and neighbour’s parked cars

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Malaysia as a property destination? Your investment is safe. I know.

An article by
South China Morning Post on the morning of 9th May 2018
 starts with this sentence,
“Malaysia’s general election on Wednesday, which has highlighted political uncertainty in the country, may crimp the confidence of Chinese investors, sparking an investor flight towards Singapore property, at least in the short term, analysts said.”
  (Well, hopefully the analyst is also following our election. As for my personal assessment, I think Malaysia is the only country I know that changed government peacefully despite the fact that the same government has been in power for 60 years. Police was maintaining order and peace and nothing else. This morning, the losing coalition admitted defeat and said that the people have chosen. Today, one day after the election, I was at the supermarket and I noticed that everyone was carrying out their grocery shopping as usual. Let’s understand that this is just one day after a 60-year government lost in the election? Yes, Malaysia has a new Prime Minister in Tun Dr. Mahathir Mohamed after the swearing in ceremony at 1010pm on 10th May 2018.  I think this is simply amazing. If I am a Chinese investor, perhaps this is something I would really place a premium on; my investments are safe!

Anyway, if you would like to know, this is a brief of what the article was about.
“Malaysia’s election could be a tipping point for Chinese investors.”
 Christine Li, senior director and head of research at Cushman & Wakefield Singapore said that due to the election as well as stricter capital controls, the Chinese would turn to Singapore property instead. Li said, “Singapore is still a safe haven for property investment as it remains an attractive location for multinational companies to locate their headquarters.”
(Frankly, if I am a multinational company, I would consider both Kuala Lumpur and Singapore and not just Singapore. As a base for ASEAN, Kuala Lumpur is good enough, commercial office choices are aplenty and prices are cheaper not only because of the currency. Besides, the expats based here would be getting a very high quality of living including even mesmerising infinity pools overlooking the TALLEST Twin-Towers in the world; Petronas Twin Towers.)

Source:
https://www.macrobusiness.com.au/2017/01/2017-demographia-housing-affordability-survey/

Li also shared that the price outlook for Singapore seems to be better because prices in Singapore rose just 15 per cent between 2009 and 2017 while homes in Kuala Lumpur jumped 121 per cent over the same period. (Frankly, I think the median property price versus household income would provide a much clearer picture. No point in trying to use some periods of time which could skew the actual numbers. By the way, the foreigners could not buy (due to restriction in price) but there are still landed properties in a gated and guarded community for below RM500,000 (S$124,700) in some areas in Greater Kuala Lumpur. My personal advise to all foreign buyers is to come visit Malaysia as a tourist first and not just looking at the price or some reports. Yes, you may also write in to me for any advice too.
Here’s an earlier article)

There are many more other points in the article.
Feel free to read yeah.
 Happy investing and yes, Malaysia a friendly nation to China. Cheers.

written on 10 May 2018

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My property can sell?

I have been asked this question many times when I was with my previous company. If I answer YES, then the customer would say, if can sell, I no need to advertise a lot. If I answer NO, then the developer would ask me, why, why, why.

Let me put this in very clear manner, from buyer’s perspective, if I am buying for my own stay.

Location – If the location is within 10 minutes away from my office, even with jams, I will buy. It may not attract others who may not like the location but if I am buying for own stay and it’s just few km away, even if my car breaks down, I can even walk to work! That’s why when you see the land transactions these days, it can go as high as RM3,000 plus per sf for super prime areas.

Price – Developers want the maximum profit possible for every project. Buyers want the lowest possible price. So, we come to demand and supply equation to see which side would win more. Both sides will win some because if developer loses, they will not build. If buyer loses, he will not buy and choose another. So, both sides will somehow come to a price acceptable to all. If every project in the area is selling at RM550psf and your project will be launched at RM450 pdf, do you think yours can sell? Of course. There are quite a number of such opportunities everywhere, especially if the developer may be first time in the market or may not carry so much premium. As a first time buyer, I have no issues with extra 30 minutes drive if I am saving RM200,000 for the same type of property. I did just that with my latest buy; everyone said, ‘very far’.

Timing – Timing is both. The time that you launch should be made known to as many people as possible. For example, 2 weeks before your launch, one week before your launch and the day before your launch and even on the day of your launch. Do enough to make people know. If you have 10,000 buyers who knows about your project, 1% buys meant you already sold 100 units.  Second timing is how long will you be selling your project. Today, there are hundreds of developers launching a new project every week all over Malaysia. If your project has not reached the magical % of sales after 6 months, it will get harder each day.

There, truth is, if location of your property is in an area everyone wants, with a pricing lower than everyone else, you can already sell very well. If these two are not met, then when you launch, it should be made known to as many of your target market as possible. If there are just 200 units and you tell 200,000 people, the chances are that it would sell.

Happy Selling.

written on 17th dec 2013.

Suggested next article:
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My Property journey with 5 ladies

My journey as a people manager cum mentor was tested and strengthened when I had to take care of four unpolished diamonds. They accelerated my learning curve tremendously and we went through a lot of tough times and great times. This is their short story.

E is her name. I hired her when I was in the midst of moving office. We were alone in an empty room with just two chairs. She came for an interview and somehow I convinced her to join on Thursday and I told her that we are flying to KL on following Monday. I am forever indebted to this lady who made the office a home and  colleagues became close friends. Her best achievement, learning and using Mandarin though she’s an Indonesian!

V is her name. Her presentation skills left much to be desired. She knows very little about online business knowledge. She does not know a lot about property market. She can be harsh to people who works slow and ineffective. Yet, this petite lady is kind hearted and today, easily and definitely qualifies as a team lead with her experience and knowledge in online and property. I would like to speculate too that she is having an amazing love story at this moment. 🙂

H was hired by me in Ipoh. She was formerly a QA Engineer inspecting of all things, FLOUR. She was on the verge of joining another job as sales executive for FLOUR. I asked her, are you really looking forward to be top flour saleswomen? Fortunately she was able to think objectively and joined me. Today, she is fully independent and very well known amongst many clients as hardworking, friendly and knowledgeable. Her famous quote is APALAI.

C hated me for reasons known only to her when I became her manager. She told me she visited ALL her clients but was unable to meet them the second time. She said it’s not her problem, clients are just not interested. Her knowledge about property? Zero. Her presentation involves opening the power point and say everything she sees. Today, she rub shoulders with senior managers easily and recently closed one of her largest deals ever. My prediction is that she will be Mrs. XXX next year.

SM was already negative when I took over southern office. She was close to resigning because she had no interest in admin. She does not even want to talk to me because she thinks I am a new stranger in her life. However, reluctantly she had lunch with me as I am her new branch head. After some on the job training, she is performing well and today is definitely the top in her department. Always saying WOO HOO! She is still waiting for the guy to tell her…….

All five would definitely be very successful and I would love to see that. As Steve Jobs say, ‘Stay Hungry, Stay Foolish’. In short, never ever feel no more improvements necessary and never ever feel you are already top of the world.   🙂

Next Suggested Article:
Why buy Penang Property – my personal reasons

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MY ranking: kopiandproperty.com, penangpropertytalk.com, apartment-penang.com

On 23 June 2014, kopiandproperty.com outranked starproperty.my in Singapore. I thought that was fantastic even if it is not within my own country. Today (24 June 2014), I am ecstatic to announce that
http://www.kopiandproperty.com
 is very slightly ahead of both the other top 20 property sites in Malaysia; apartment-penang.com and penangpropertytalk.com   I know, ahead of them by that tiny little bit means nothing but I still have to write this so that I would remember this day for some time to come.

Both apartment-penang.com and penangpropertytalk.com are major property websites in Penang. In fact whenever you want to know about some of the latest projects which are happening in Penang, both sites give you a very good reference point. Their ranking is very stable and is below 2,000 for most of the time due to the stable visitor numbers. As for kopiandproperty.com, it has only just breached the sub 2,000 ranking in June. No idea how long this can be maintained but my promise is, will continue with my writing and sharing about property issues here in Malaysia and occasionally out of Malaysia.

Thank you all for your support here in Malaysia. I am happy to have contributed that tiny little extra to your property investment decision.

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My story featured in Ivory Living

First announcement is that my story was featured in Ivory Living. It tells about my love story where my wife and I did not start on a good note. However, I had no choice because she would not let me go. Ok, ok, it was more like the other way round. We have been married for over 10 years! The article touched upon my decision to buy The Peak Residences. This is the Ivory Living Jan 2014 edition. Do read about it here:
Ivory Living Jan 2014
    (page 31)

Secondly, to all those who has read my blog, thank you for reading my real estate blog. My blog has hit its 50,000 views milestone yesterday. It was started at the very last few days of November 2013 and has now reached nearly 200 articles. Have received lots of comments, encouragements, constructive criticisms and all comments continue to motivate me to keep writing.

When I hit 100,000 views, will announce. If I maintain current views of about 24,000 per month, I think by end of April 2014, I should hit the 100,000 views milestone.

Ranking wise, I think kopiandproperty.com is now one of the leading real estate blogs in Malaysia if not yet number 1.

Cheers everyone.

written on 13 Feb 2014.

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My first visit to Sunway Velocity mall

I think many readers would note that I love shopping, both the actual buying and even just window shopping. Last weekend I went to Sunway Velocity with my family. I wrote about it earlier. Here:
Two more huge malls opening in Cheras

My wife and kids had visited it earlier too. She said, ‘oklah’ at that time because there were still quite a number of shops which has yet to open. ‘Oh yeah, these would be all the things I feel should be available in malls regardless of whether they are new or old.
My Must Have list for malls, both old and new

Driving there is not as smooth as my usual trip to 1Utama. It is in Cheras which is a mature residential area and has lots of good food too. However, it is TouchnGo ready which is a plus point. I seriously dislike having to queue up just to pay for parking.

There are many baby rooms and these are available at every floor too which is really convenient. Look at the number of new babies and kids visiting malls with their parents and you get the idea. Oh yeah, if there are still restaurants equipped with just
TWO baby chairs,
 all the best to them. I think Sunway knows that toilets should be made convenient. Yes, there are many of them and mostly at convenient locations too. I spent 5 hours there, from lunch till evening. Parking is also easy to find which is a definite plus. There was a huge event too. Some sort of online /computer games. At the other end was a singing contest. I think any mall without a huge event every weekend is not likely to survive very long these days.
There are just way too many malls!

Yes, even the air-con is strong. It’s still a new mall, it has to be strong, right. Haha. As for supermarket, there’s AEON Max Value too. In other words, after shopping for stuffs, my wife can get some groceries for the weekdays too. So, yes I consider Sunway Velocity mall fulfilling all my minimum requirements for a good mall.

Oh yeah, the brands that has opened are mostly mid-range which is great for shoppers like me. However, for those who are more used to upper / luxury stuffs, this may not be the mall for you. There are however some points for improvements. I think every mall should have something special. At this point in time, I am more sure what is unique about Sunway Velocity. Some malls happen to be in a very good location and is next to another upscale mall and lots of offices for example. Another may boast old wing and new wing and it’s in the suburbs which is a reason why every weekend its packed. Of course there’s one with a huge theme park and another with many upscale brands. In comparison however, I would visit Sunway Velocity mall again as compared to a new other new malls that I visited for the past few weekends. These new malls are way too quiet. Remember, if the crowd does not start from the beginning, building it up later is going to get harder. Happy shopping!

written on 6 Mar 2017

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Save money! My30 unlimited travel pass on MRT, LRT and more.

It was
My100 and My50 (read here for earlier article)
but it’s now the My30 unlimited travel pass to travel on MRT, LRT, BRT and more. By the way, this is not just a better way but it’s by far the cheapest way to travel. Plus, the extra walking to and from the station will be a great boost to the heart and body too. If you sweat a lot like me, then try to walk slowly yeah.

Image below shows that with RM30, one gets the My30 UNLIMITED travel pass for 30 days across all rails and Rapid KL buses. This special deal is offered from 15th June until 31st December 2020 which means you could still enjoy this for 3 months. Get it from all the Customer Service counters as well as in selected bus hubs.

If you need to read the official announcement, click here:
Here’s that official announcement.

As for the typical FAQs, please do refer below:

What is My30?

RM30 Unlimited Travel Pass for 30 days is for use on all rail (MRT, LRT, Monorail), BRT, Rapid KL buses and MRT feeder buses. Available from 15 June 2020 till 31 December 2020.

Where to buy?
 You can purchase My30 from the Rapid KL Customer Service Office at:

all LRT stations
all MRT stations
all Monorail stations
all BRT stations

Five bus hubs as listed below:

Pasar Seni
Seksyen 2, Shah Alam
Sri Nilam
Greenwood
Terminal Kajang

Just 3 months, okay?

I know, you love to drive because it’s much more convenient. You do not need to talk to any station, just walk to your car. Well, how about just doing this My30 unlimited travel pass for 3 months and save enough for a family holiday within Malaysia? Nope, i am not joking about the savings part. While you cannot run away from your car installment but you could skip the following for three months:

Parking costs – RM8 per day x 22 working days x 3 months = RM528.
Fuel costs – RM8 per day (roughly 60km to and fro including jams) x 30 days x 3 months = RM720
Maintenance costs – RM200 per service (simply give you a number).  3 months = roughly 5,400km which is around the maintenance since regular serviving is typically 5,000 – 7,000km.

What’s that total?

Total savings just for these 3 months?  RM1,448.  By the way, this is minimum expenditure because you do not drive ONLY to work yeah… You also drive to eat your dinner… and you still have to pay parking too. So, at minimum after 3 months, with this My30 unlimited travel pass, you could save enough for either of the following:

Travel to Langkawi for 2 pax (flights + 4-star hotel + car rental) for a 3-day and 2 nights stay.
Bring a family of 4 to Genting Highlands (2 adults and 2 kids) and let the 2 kids play their hearts out at the Unlimited pass at Skytropolis, stay for 2 nights at Deluxe Room in First World Hotel.  You can do this TWO TIMES. Haha.
Buy that new smartphone lah…
Suddenly have RM1,500 to do things you like.

Let’s not even get started on the extra walking which you will have and that extra boost to the heart too. I know, sometimes it will rain and it will be inconvenient. For those days, it’s worth spending some quality time with colleagues over coffee and just talk about everything under the sun worth doing. This may just be the time when you realised your colleague is another good friend at work too. Happy taking this My30 unlimited travel pass and have nearly unlimited number of good things which you could do with the savings.

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Get the government to pay for your FIRST house deposit – Till 15th February 2018

I believe everyone should try to save for
our own first-home downpayment.

, However, I do know many Malaysians believe that property prices are already too expensive and they could no longer buy? Well, my ex-colleague earns less than
RM4k per month and she has just bought her second property

last year. It’s really possible lah. However, sacrifices are needed. A GRAB driver told me he drives just 4 hours everyday and 12 hours during the weekends. He is able to get an additional RM4k per month for his family, on top of his monthly office work which pays him another RM4k. However, if you are looking to buy your first property and need the government to pay for your downpayment? Yes, this is not a scam. There is really such a scheme called
SKIM PEMBIAYAAN DEPOSIT RUMAH PERTAMA (MyDeposit).

In brief, the government wants Malaysians to own their own home. It was started in April 2016. There is now an additional RM25 million up for successful applicants from now till 15th February 2018. If you want, do
click here to verify
 (Skim Pengurusan Perumahan Negara) but basically, the below would be the flow of how it goes. Here’s the
link to start the application.

Requirements? Here they are:
SYARAT DAN KELAYAKAN PERMOHONAN MYDEPOSIT

Warganegara Malaysia

Berumur 21 tahun dan ke atas

Pembelian rumah pertama bagi satu isi rumah. Isi rumah merujuk kepada pasangan suami dan isteri atau bujang sahaja. Pasangan sama ada suami atau isteri yang telah memiliki rumah bagi satu isi rumah adalah
TIDAK LAYAK.

Pendapatan isi rumah antara RM3,000 sehingga RM15,000

?
KRITERIA PEMBELIAN PROJEK PERUMAHAN YANG DIBENARKAN

Projek perumahan baharu yang berlesen daripada pemaju perumahan yang berlesen sahaja

Harga pembelian rumah RM500,000 dan ke bawah

Kelulusan pembelian bagi projek-projek perumahan swasta yang tidak mendapat subsidi/ insentif/ dana Kerajaan

Projek perumahan oleh Kerajaan Persekutuan dan Kerajaan Negeri seperti projek PPA1M, PR1MA, RUMAWIP, PPR, MyHome dan Rumah Mampu Milik Kerajaan Negeri adalah
TIDAK LAYAK

DOKUMEN WAJIB PERMOHONAN

Senarai dokumen (mandatori) yang perlu dimuatnaik dalam Sistem MyDeposit (format: .pdf) :

Salinan kad pengenalan pemohon dan pasangan

Salinan kad pengenalan/sijil kelahiran tanggungan

Salinan kad OKU/surat pengesahan OKU (Jika berkenaan)

Salinan sijil nikah/ sijil kematian/ sijil penceraian

Akuan Bersumpah pengesahan bujang

Akuan Bersumpah bekerja sendiri/ tidak bekerja

Surat pengesahan majikan pemohon dan pasangan. Maklumat diperlukan: status perkhidmatan/ perkerjaan, status perkahwinan, gaji bulanan dan tempoh perkhidmatan

Penyata gaji terkini pemohon dan pasangan

Salinan penyata KWSP atau penyata cukai pendapatan pemohon dan pasangan

Salinan Laporan Sistem Maklumat Rujukan Kredit Berpusat(CCRIS) pemohon dan pasangan

Surat tawaran /pengesahan terkini pembelian rumah daripada pemaju perumahan berlesen

Surat sokongan dan pengesahan pemimpin tempatan

Salinan Bil Elektrik/ Air kediaman terkini

DOKUMEN PANDUAN

Untuk mengetahui lebih lanjut mengenai skim MyDeposit, sila rujuk pada pautan.

 Muat turun FAQ MyDeposit

 Muat turun Buku MyDeposit

?
HUBUNGI KAMI

Pertanyaan Skim MyDeposit

– Telefon: 03-8891 4025/ 4026/ 4051/ 4057

– Emel:
mydeposit@kpkt.gov.my

Pertanyaan Masalah Aplikasi

– Telefon: 03-8891 4475/ 4474

– Emel:
ict_jpn@kpkt.gov.my

All the best in your application and if all else fails, go back to basics. Savings is key. Sikit-sikit, lama-lama jadi bukit juga. Kalau dilaburkan, dari bukit jadilah gunung. (minimum 10 tahun dan keatas ya…) Cheers.

written on 7 Jan 2018

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MyDeposit may be back to benefit the first time homebuyer (who qualifies…)

MyDeposit may be back to benefit the first time homebuyer (who qualifies)

Background

The MyDeposit scheme was first announced in Budget 2016. It aims to help home buyers with a household income of RM10,000 and below to buy their first home. RM200 million has been allocated for the MyDeposit scheme. The scheme covers 10% downpayment for the home buyer or RM30,000 whichever is lower. The property price has to be RM500,000 or lower.

Thus, if we are purchasing a RM500,000 property, we need to come up with RM20,000 cash for the downpayment as MyDeposit will only cover RM30,000. This assumes our downpayment for this RM500,000 property is RM50,000. The scheme has ended on 31 October 2021. There is now a possibility that the scheme will be extended.

Article in edgeprop.my
  The Ministry of Housing and Local Government said in the Dewan Negara that there is a possibility to reintroduce the MyDeposit scheme by looking into a more viable and sustainable financing model for the benefit of the target group.

Its Minister Datuk Seri Reezal Merican Naina Merican said, “Based on our records, 2,257 (72.6%) of the applicants aged between 21 and 35, followed by 778 applicants (25%) aged 36 to 45, and 70 applicants  (2.4%) aged 45 and above,” A total of RM86.386 million in financing was granted to 3,105 families involving 127 housing projects.

He said that the ministry acknowledged that the scheme had brought about a huge impact on first-house buyers, especially among the youth. Do read the full article here:
Article in edgeprop.my

Are you excited? (Sorry if you already own a property yeah)

I personally believe without a property, then the household will continue to face possibility of poverty. Imagine generations after generations, the household continue to pay rental which gets higher every passing year. Just RM1,000 per month is RM12,000 per year or RM360,000 every 30 years. Now imagine three different generations pay rental and we would realise why in many countries, paying rental meant that the household will be poor forever.

Alternatively, the government would have to ensure homes are built for rental to these households at a very low rates. This will help them reduce their expenses and have a chance of saving money for a home of their own. Of course I hope both routes are taken and not just either one. In the mean time, if you qualify for MyDeposit, remember to follow the news and then apply for it when it’s back.

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MyHome subsidy scheme

Under a new programme called MyHome, a total of RM300 million would help the middle-class public to purchase low cost homes with reduced price. This scheme is eligible to those who are earning less tan Rm3,000 household income per month. Up to 10,000 units may be eligible for the subsidy this year. Example of how it works is as follows:

If the price of low-cost home is fixed at RM40,000 a unit while developers have to sell them at Rm70,000, the qualified applicants are able to buy it at RM40,000 because the remaining RM30,000 will be bourne by the government under the scheme. This scheme will be carried out by the developers and all interested developers has to apply to Local Government Ministry to take part in such an initiative. Once approved, the developers may then advertise the availability of such units.

It may not be easy to carry this out successfully when the market is hot but I think with the current slowdown, perhaps some of the smaller developers may be willing to build this for some stable income before building back their staple. I just hope this information is disseminated as widely as possible because for some segments of the market, it is not just not being able to afford but also being unable to know about it. I guess if you care, you should let those people who needs it know about it. As at now, I could not find any website to download the forms etc. Perhaps it may be announced in the near future.

written on 24 Feb 2014

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MYHSR Corp: Freeze! Can’t sell.

I think many property investors are looking at any High Speed Rail (HSR) news positively. Yes, it will take another 10 years but for those seriously thinking about investing, 10 year should not be when we start to buy. There’s another confirmation on the seriousness of the High Speed Rail KL – SG was reported in nst.com.my today.
MYHSR Corp Sdn Bhd
 said it will be laying out plans to the government to freeze all land transactions along the HSR corridor. The reason is simple, this will ensure the processor acquisition is faster and costs may be better contained as well. I think this comes with experience with the MRT project where some delays happened due to land acquisitions and even disputes during the tunnelling with landowners.

The total length of the HSR is 350km but as per MyHSR Corp chief executive officer Mohd Nur Ismal Kamal, there would be minimal displacement of families and businesses for the construction. 335km  of the HSR will be within Malaysia and Johor would’ve the longest route, between 150-160km. Three transit stations would be in Johor; Muar, Batu Pahat and Iskandar Puteri. The freeze is for transactions for a corridor that is 500m wide along the HSR route. Nur shared, “This is where we will file with the local authorities or the state governments to freeze transactions of land identified for HSR use. This will enable us to do soil investigation, survey the land and determine the final alignment within that 500m corridor. Once that is determined, we will take the next step to acquire the land. But we will acquire a narrower corridor of about 50m. So, much of the land will be released.”

There were no mention about the budget allocated for the acquisition. Bigger plots would be required for stations, depots and maintenance facilities. Where tunnelling would happen, there would be some agreements with the landowner along the lines of what MRT Corp has done for the MRT project. As for the land owners along the route, it may be more beneficial for joint -ventures with some
developers with some good integrated project ideas
. Selling the land may be the easiest way out but ensuring reinvestment of the money gained would be harder. Everyone should note however that the actual bilateral agreement would only designed end of 2016. In other words, more details would continue to come and it’s best to keep following.

written on 2 Aug 2016

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Myra Alam- Terrace Homes with customizable space and lush backdrops

Press Release: Myra Alam- Living A Fuller, Greener Life

Myra Alam’s Phase 3 terrace homes offer customizable space and lush backdrops for a fulfilling lifestyle.

Home is where the heart is – and Myra Alam has all the trimmings homeowners desire to relax, rest and live every single day. The third phase of the development, located in the developing township of Puncak Alam, boasts many green-centric

features, with customizable spaces as its number one attraction.

Surrounded by aesthetically pleasing landscaping and contemporary facilities, Myra Alam is the township of choice for young, budding home buyers who are looking for that special house to call home. The development’s emphasis on exceptional design, modern practicality combined with the charms of lush greenery and yet affordable homes are a bonus for city lovers with the penchant for homes close to nature.

Myra’s third phase Type F and Type D units give homeowners the opportunity to personalize their home with extra indoor space for more layout options. Both types are designed with the flexibility to convert the extra space into additional rooms, be it a bedroom, living room, study room or a family room for extra comfort and convenience.

With 49 units available, the Type F units have a smaller land size of 20’ x 70’. However, the built-up makes amends, measuring 2,002 sq ft for intermediate and end lots and 2,104 sq ft corner lots. Equipped with 4 bedrooms with en-suite bathrooms, these units are designed with a functional indoor space, a bigger guest bedroom and planter box, starting from an affordable RM554,000

Myra’s Type D units come with a built up of 2,294 sq ft for intermediate and end lots, and 2,396 sq ft for corner lots on a 22’ x 70’ land. The extra land size and built up offers home buyers the option of enjoying more indoor space with family as well as the outdoors for nature lovers. With 16 units available, all 4 bedrooms come with en-suite bathrooms, offering additional privacy for residents. Starting at RM569,000 all units are designed with their own planter box complimenting the facade of each home, ideal for those looking to pursue healthier lifestyles while adding an extra touch of green to their homes.

“What sets Myra apart is that we provide home owners both the strata and individual benefits. Besides keeping residents’ minds at ease living amidst a guarded community, homeowners will also be able to renovate their homes, which is not possible for traditional strata title homes. Our buyers now have the ability to customize the first floor of their home, making it possible to choose 4 different layouts to suit their lifestyles, and utilize the extra space as they desire,” said Wendy Lim, General Manager of Myra.

After the launch of Phase 1 in June 2018, the development had tremendous success with the first and second phase, with units in Phase 1 selling out in a record three months, while Phase 2 homes were sold out in five months. In both phases, Myra offers key features of affordability, location and uniqueness, and these elements have created a buzz in the property development market; with the momentum continuing to positively affect Myra’s third phase of the project, expected to be completed in December 2022.

“Myra’s success in the first and second phases demonstrates the value of focusing on homes with elegant design and conceptualization. Just like the previous phases, Phase 3 also provides home buyers the practical balance between the functionality of space and highly-competitive price points. With homes built on premium locations, the playground is located right in front of homeowners’ doorsteps, which comes with the added benefit of ample parking space.  Adding on to these elements, Myra’s Phase 3 units provide residents the opportunity to experience a high-quality lifestyle, capitalizing on space and design while appreciating the relaxing views of the lush greenery and playground outside,” added Lim.

Myra’s specially-designed playground, consisting of two pavilions, a jogging path, a multipurpose court, a garden sanctuary and a jungle gym, gives out a fun, conducive atmosphere and positive vibes for growing families and residents of all ages. Phase 3 homeowners also have the opportunity to use additional parking facilities and an event space a stone’s throw away from their homes.

Puncak Alam has traditionally been known as a quiet and peaceful township but in recent years has grown tremendously, earning itself the title of the “next Damansara”.  The suburb with the 42300 postcode continues to develop at an exponential rate, slowly but surely creating a niche reputation that draws young families and home buyers to its luscious and serene surroundings.

As an up-and-coming suburb, Puncak Alam has the top two considerations for home buyers – accessibility and convenience. Strategically located within the township, the Myra Alam development has easy access to LATAR and DASH highways for those working in Kuala Lumpur and Damansara. Residents also have the opportunity to be close to amenities and infrastructures such as a hospital, schools, shop lots, petrol station and supermarkets such as Jaya Grocer, Econsave and Tesco.

Find out more about their latest developments, practical tips and advice involving property and finance, follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit
 www.myra.com.my
.

-End of Press Release-

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Press Release: Myra : Caring for Its Homebuyers and Doing The Part Against Covid-19

Press Release:
CARING FOR OUR COMMUNITY BECAUSE WE CAN AND WE SHOULD

Myra donates supplies for homebuyers, front-liners and community members

The lives of Malaysians have been deeply affected by the COVID-19 outbreak. In light of the commencement of movement control order (MCO), everyone, be it individuals, communities, businesses, corporations, and authorities, will play an important role in curbing the spread of COVID-19.

Playing their part as a developer with an aim to cultivate tight-knit communities, Myra is making every effort to provide peace of mind to their homebuyers and community members around the Sepang district, while also providing aid to our unsung heroes on the frontlines.

“We want to contribute in whatever way we can, first and foremost as members of the communities we are in and secondly it’s our responsibility as a property developer to let our communities know that they are not alone in this fight against COVID-19. To succeed in this endeavor, we must help one another through these trying times and Myra will be donating supplies in the form of food, funds and essential equipment to the best of our abilities,” said Wendy Lim, General Manager of Sales and Marketing of Myra.

For this initiative, Myra has focused on the distribution of over 3.2 tonnes of rice to their purchasers in Sepang. In a bid to assist the invaluable front-liners who are working tirelessly against COVID-19 all throughout this period of MCO, Myra is committing to an ongoing fabrication of face shields for distribution to hospitals, security forces and other front-liners involved in this effort. Many of the dynamic team members of Myra have also volunteered to be involved in the hands-on production of these face shields. The first 2,500 face shields have already been completed and have been sent to the University of Malaya Medical Centre (UMMC), Serdang Hospital and Faculty of Medicine UiTM Sg Buloh.

“Right now, we are prioritizing the distribution of essential items and daily necessities required for everyone who is either staying safe at home or who are away from home carrying out the indispensable duties to weather through to the end of the movement control order period. If required, Myra will contribute more supplies especially to the front-liners,” added Wendy Lim.

In their effort to provide further assistance to the authorities and the government in this nationwide battle against COVID-19, Myra has also donated RM 50,000 to the Selangor state fund which will be used to further combat the outbreak.

“We believe that as a property developer, we have every chance to be involved in the lives of our homebuyers. We take their well-being seriously because their lives take place in our homes after all. It is especially during times like these that we need to step up and do our part to give back to the community. In doing so, we hope that our contributions will help bring back a sense of semblance of normality to our communities.” said Wendy Lim

To keep up to date and well informed on these initiatives, the COVID-19 situation, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information visit
www.myra.com.my
.

— End of Press Release —

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Press Release: MYRA Creates A Strong Foundation For Its Employees

Myra has built a steady reputation as a developer who remains abreast of industry developments and attributes its success to its innovative management style of refusing to stagnate. While many organisations erroneously feel that a start-up culture is what it takes for a company to grow, Myra recognises that it is in fact maintaining the energy and enthusiasm of a start-up while acknowledging growth, that allows them to remain in tune with the homebuyers’ journey.

Spirited and willing to experiment may not be terms that you immediately associate with home developers, but Myra believes in hammering these values home to its employees, right from the get-go. The reason for this is simple; to stay relevant with the younger set of property-purchasing clientele, Myra’s employees need to have their finger on the pulse of customer needs. Many organisations would expect its employees to mindlessly toe the line in the pursuit of profit, but what Myra has done is help its team shape their focus through an internal Charter which guides both new and existing team members towards a shared company culture mindset.

At the heart of Myra’s Charter are the 7 core company values including Innovation, Growth, Empathy and Fun, which balances goal-centric behaviour with a sense of personal purpose.  Perhaps most refreshing to note is that Myra upholds a company culture that values and rewards speaking up. Employees are encouraged to communicate personal stories to better understand the property industry, but also learn not to fear the consequences of sharing an opinion or constructive criticism.

360-degree feedback surveys are employed, reinforcing the value of speaking up and providing a chance for team members to give their input not only to their peers and subordinates, but superiors as well. This is done annually, giving employees ample time to reflect and internalise their feedback

But company charters are only as good as their implementation, which is why employees at Myra fill out a weekly purpose reminder to keep their eye firmly on their work goals. Managers in turn assess their team on a quarterly basis to ensure that the right people are exactly where they should be.

It is these constant navigation corrections that Myra makes that enables its employees not just to do their work but become better at it, over time. Myra has made the deviation from traditional in order to revamp the ways of an organisational structure by getting young blood aboard. Myra believes that young, first-time homebuyers will be able to resonate with a team of young individuals when it comes to understanding their needs and preferences.

“Our set up is rather unique where we do everything in-house. This makes it easier for us to remain transparent, and for important information to be highly accessible for those who need it. It also makes it easier for teams to collaborate and share ideas, regardless of which department they are in” explains Akil Kalimullah, Culture Chief at Myra.

“In fact, we do not care much for hierarchy and titles. This allows us to be fluid in areas where we can contribute, which is key to being agile, and solving problems quickly and effectively. We understand that managers do not have all the answers, and sometimes ideas can come from the most unlikely groups of people,” Akil elaborates.

In its continuing efforts to gain and maintain the right people for its team, Myra deploys stringent hiring filters that turn the usual, expected process on its head. An online application questionnaire and multiple rounds of interview first focus on a company culture fit before considering technical abilities or work experience. The potential hire is then given a case study that is formulated by a manager for the exact role that they have applied for. This meticulous process sifts through the candidates leaving only the ones who are truly passionate about joining the company because they believe in its purpose of customer satisfaction.

“On one hand, we are looking for people who have experience in the property industry, but we are also looking for candidates who fit in with the growth trajectory that Myra is on. We want people who can constantly think about bringing value, that we in turn as a company can share with our customers. If you’re going to be spending all that time, energy and money into searching for your home, for your sanctuary, then each and every one of us at Myra, believes it is our purpose to guide you through a journey that is both easy and exciting,” concluded Akil.

-End Of Press Release-

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Press Release: Myra Cyberjaya- The Latest Residential Haven in A Progressive Tech Enclave

Long known as Malaysia’s Multimedia Super Corridor (MSC), Cyberjaya is a 28.94 sqkm area located in Sepang District, Selangor. Envisioning Silicon Valley, the township was launched in 1997 to accommodate multinational companies and data centres primarily. With careful and progressive planning, Cyberjaya has successfully maintained its balance of commercial, residential, and plentiful leisure activities.

Just recently, Cyberview, the government-owned company mandated to develop the tech hub, has unveiled
Cyberjaya’s New Masterplan
 consisting of five key areas that are poised to hasten the evolution of Cyberjaya into the country’s premier digital economy. Together with a myriad of other advantages such as connectivity, tourist attractions, prime location and urban amenities, these factors have contributed to the town’s steady rise in residential and commercial developments, along with the increase in property valuation throughout the decades.

With the rising demand for economical yet practical housing and the current challenge in economic turmoil as collateral of the pandemic, many young people find it harder to own a home in prime locations. Hence, with the imminent debut of Myra Cyberjaya, young couples who are planning to start a life together can look forward to living in a centralised location while enjoying more affordable options as compared to the neighbouring vicinity of Putrajaya.

“The current property market is either highly skewed towards the affluent and expats with luxury homes, or caters to the investor market with sized-down residential units that are too small. With Myra Cyberjaya, we aim to build spacious and generational homes for families to grow into,” said Wendy Lim, General Manager of Myra.

A Unique Mix Of Low And High-Rise Luxury Apartments For All Walks Of Life

As an upcoming residential development in Cyberjaya, Myra Cyberjaya comprises 11 acres of freehold land with a mixture of high and low rise condominiums. Upon completion, the development will offer units ranging from 872 sq ft – 2,067 sq ft, along with 14 unique floor plans designed to fulfil the needs of different lifestyles.

Myra Cyberjaya is unveiling its inaugural Phase 1 with a total acreage of 6.39 acres and a gross development value (GDV) of RM180 million for its upcoming launch. There will be 279 units spread across 24 levels in a primary Tower A, which is then separated into four distinct Blocks A1 to A4, available for homebuyers.

“Rather than flocking with the herd, Myra believes in going against the grain to make homeownership a hassle-free journey, and especially for first-time homebuyers who have already faced enough hurdles over the past year. We want to create a tight-knit community where every homebuyer can enjoy affordability and practicality in a simple yet essential space called home,” Wendy added.

The Best Environment For Post-Pandemic Living

As the reality of living with the pandemic sets in, more Malaysians realise the importance of having optimal space to enjoy indoor and outdoor recreational activities. Hence, Myra Cyberjaya is the ideal investment for homeowners looking for a balance between urban and nature because 48% of the total land in Cyberjaya is reserved for public amenities and greenery for residents to promote wellness and sustainability.

To provide the best home options for the intended target market, Myra has partnered up with award-winning architect yhsA and land architect Praxcis in redefining the concept of affordable luxury, a design approach that uplifts lifestyles by maximising both functional aspects and the aesthetics of the households.

While Myra Cyberjaya offers many unit sizes for different homebuyers, the Phase 1 units are catered to three main types of homebuyers. The smaller units (800+ sqft) are ideally designed for students, expats and single professionals, the mid-size units (1,200 + sqft) for first-time homebuyers, couples and government servants, and the larger units (1,500+ sqft) for multi-generational and upper-middle-class families. Every unit in Phase 1 has a 3 bedroom, 2 bathroom layout, and comes with 2 car parks.

Ultimately, Myra Cyberjaya prioritises sustainable design in its landscapes by balancing functionality, texture, colour, light, and shadows, focusing on the connection between nature and people. Strategically positioned to provide unobstructed views of Cyberjaya’s natural beauty, residents of Myra Cyberjaya can look forward to putting the top-notch facilities to full use while enjoying the serenity of the nearby lake.

Facilities and amenities available for residents range from an indoor basketball/futsal court, indoor badminton court and co-working space to a gym overlooking the lake and pool, infinity swimming pool, BBQ area, sun deck and lounges. Residents can also enjoy the multi-purpose function room and dining area for communal activities.

“COVID-19 will never truly be out of everyone’s lives, and the need to have a home is even greater as it has proven to be a sanctuary for many during the past year. With Myra Cyberjaya, we hope to provide numerous layouts that are seamlessly adaptable to the needs and wants of every family,” Wendy said.

An All-Encompassing Township

As a thriving township filled with MNC-status corporations and renowned universities, incoming residents will benefit from the existing infrastructure that have transformed Cyberjaya into a resident-friendly town over the years. For nearby amenities, Myra Cyberjaya is in close proximity to numerous local primary and secondary schools, international schools, and universities such as King Henry VII College, Multimedia University MMU, University Malaysia Science & Engineering and Heriot-Watt University.

An urban and convenient town is by no means complete without supermarkets and shopping malls that cater to modern day necessities of the neighbourhood. In Cyberjaya, both are easily within grasp with options abound for malls, including D’Pulze, IOI City Mall and Alamanda Mall, not forgetting Village Grocer @ Tamarind Square, AEON Big Putrajaya and Jaya Grocer @ D’Pulze, among others, for quick grocery runs.

For emergencies and medical attention, residents are a short drive away from over six healthcare facilities — Hospital Cyberjaya, Hospital Putrajaya, National Cancer Institute,  Andorra Women & Children Hospital, KPMC Puchong and Columbia Asia Hospital.

The development is also highly accessible via the ELITE Highway, SKVE Highway, MEX Highway and Putrajaya-Cyberjaya Expressway. Residents can easily travel through public transportations with LRT Kelana Jaya, LRT Putra Height Ampang & Sentul Timur, Putrajaya Sentral, KLIA Transit Line, and soon-to-come MRT 2 within reach.

For more information on Myra Cyberjaya, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit
 www.myra.com.my
.

-End of Press Release-

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Press Release: Myra Collaborates with Maybank Islamic to Ease Homeownership

Homeownership is a goal that many Malaysians strive for as it marks your independence and life’s achievement that you can be proud of. But buying a home isn’t as easy as it sounds. It involves your life’s savings that go to the downpayment and other hidden costs that buying a home comes with. Seeing and hearing the plight of the market, pioneering developer Myra believes that homeownership should not be as complicating and daunting as it currently is. Thus taking steps towards looking out for ways that can help potential homeowners with their home buying journey.

Enter HouzKEY, a home financing solution that was introduced by Maybank Islamic to assist potential first-time homebuyers who are not able to buy their dream home because of the high upfront costs that homeownership incurs. First-timers will be able to have 100% financing while not having to fork out payments for the construction of their dream home at the same time. They will also be able to appreciate the lowest monthly payment.

As Myra and HouzKEY have been fully focusing their fruitful individual efforts towards making a difference in the industry with education and building homes that are catered towards first-timers, they have dug deep into understanding more of the first-timer market more and more each day. With that knowledge and understanding of what the market is looking for, Myra has collaborated with Maybank Islamic’s HouzKEY for alternative homeownership solutions that first-timers can take further advantage of.

“One of the main issues in becoming a homeowner is the high entry costs and loan affordability that homeownership requires. With HouzKEY, families would be able to land a home of their own without having to fork out the 10% down-payment of the home’s price, making homeownership a whole lot easier for many Malaysians,” said Wendy, General Manager of Sales and Marketing of Myra.

Managing Director of Maybank’s Real Estate Venture, Sally Lye Saw Im said “HouzKEY provides Malaysians with the opportunity to own their dream home by offering 100% financing and zero payments during the construction period. We understand the challenges and obstacles homebuyers have faced in the past. Being at the heart of the community, we hope the introduction of HouzKEY can be the solution for Malaysians in their journey to own a home.”

To start the ball rolling, Myra Saujana is Myra’s first township development that will be in partnership with Maybank Islamic HouzKEY. Located in a town called Sungai Merab that’s just a mere 10-minute drive away from Putrajaya, Myra Saujana consists of both double-storey Superlink and double-storey Semi-D homes that emphasize space, convenience, and flexibility. The first floor of both types of homes comes with en-suite bathrooms for each individual room which grants privacy.

Residents at Myra Saujana would also appreciate the space that the kitchen area provides as it has been fully extended all the way to the back for Superlinks. This allows them to save up on and be free from the hassle of renovation costs and makes it ideal for HouzKEY homeowners as they will be able to utilize their entire home fully without making any changes that their lifestyle would require.

HouzKEY homeowners will be able to enjoy the built-up of the Superlink as the 2,338 – 2,370  sq ft is considered to be one of the biggest built-up in the area for terrace homes with just a price tag of RM 698,000 or an estimate monthly payment of RM1,500 a month with is considerably more affordable than a loan instalment of RM2,489 a month.

Additionally, interested HouzKEY homeowners who are looking for a larger landed home for their family would find the Semi-Ds in Myra Saujana an ideal home that provides the space that they’re looking for as there are not many Semi-D options available in the area.

The Semi-D comes with an extra land at the back and side, as well as ample bedroom space that caters to large families perfectly with just an affordable monthly payment of RM2,230 a month as compared to its mortgage instalment of RM4,080 a month as the price of the Semi-D begins at RM1,030,000. Other features that the HouzKEY homeowners can look forward to is the underground cabling and concealed drainage for the entire township.

Location convenience is another feature for HouzKEY homeowners who are living in Myra Saujana. With the short distance that it takes to go to Putrajaya, the main market that Myra Saujana aims for is the government staff who work there. Furthermore, there are various amenities available nearby as the township is located in the centre of Putrajaya, Bandar Baru Bangi, Kajang, and Dengkil.

“Myra Saujana is a great township for the collaboration with HouzKEY as it offers many features, mainly the accessibility to neighbouring major towns and different home types with various land sizes for homebuyers that will suit their lifestyle’s needs,” said Wendy Lim. “With HouzKEY, Malaysians will have a home financing solution to combat the trials first-time buyers face.”

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit

www.myra.com.my
.

-End of Press Release-

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Press Release: Myra Gardens Starter Homes with Club-Like Amenities.

Press Release: Myra presents Myra Gardens Starter Homes and it comes with Club-Like Amenities.

For first-time homebuyers, being able to live in a township imbued with elegance comes second to choosing an affordable and practical home. More often than not, Malaysian starter homes offer the most basic of designs, facades, and landscapes. Otherwise, a higher price tag is expected. With the upcoming launch by Myra, however, first-time homebuyers can finally live in an elegant township while also enjoying the convenience of a resident clubhouse, all without breaking the bank. This is Myra Gardens Starter Homes.

For their latest residential development which aims to provide first-time homebuyers with pocket-friendly homes within an elegantly-crafted township, Myra presents Myra Gardens, a refined Strata township that has integrated nature into its design located in Kundang, Rawang, Selangor.

The township offers 587 landed units and has a total estimated gross development value (GDV) of RM440,000,000.00. Built to offer their homebuyers the best of landed homes, Myra Gardens is one of the most affordable landed projects in Kundang that is sitting on an attractive rate of RM 243 per sqft. Upon completion, homebuyers can expect a total of 6 different phases, one of which is a Rumah Selangorku project.

As Myra Gardens residents return home from a busy working day in the city, a true contrast between a concrete jungle and nature’s haven reveals itself as they are greeted with a beautifully crafted township. As a strata development, residents will also enjoy the green spaces without hassle as the landscaping will be conveniently maintained by the Joint Management Body (JMB) with an estimated maintenance fee of RM 150.

In terms of leisure and recreation, Myra Gardens has got it covered for residents with their exclusive private clubhouse and a sizeable lake totaling to 7.8 acres of land within the township. Providing the facilities of similar to exclusive members-only clubhouses, the clubhouse comes with indoor and outdoor areas and various amenities that are shared by the whole residential community. Fitness junkies will get to carry on with their healthy lifestyle at the gym and swimming pool, while others can utilize the multi function hall, co-working space, and appreciate the grounds with their daily walks around the lake.

In the launch of its first phase, Aster, 96 units of 20′ x 70′ double-storey terrace homes with a built-up of 1654 sqft will be available at the starting price of RM 429,000 and a booking fee of RM1000. While they have a layout of 3 bedrooms and 3 bathrooms, each unit has an open space concept. Giving priorities to growing families, the home’s ground floor provides a large amount of space at the back of the house that can be converted into a play area for children, home office, or an additional room, for instance.

Residents can also easily access their beautiful back lane gardens where gardening enthusiasts and urban farmers can grow any plants to their hearts’ content. There, families can also grab a quick stroll around the lake and through the landscaped back lanes that are all interconnected.

“With a career-oriented lifestyle, young professionals work an average of 9 hours a day, and we can’t think of anything more enjoyable than returning home to delightful surroundings and spending quality time with loved ones. Here, homebuyers won’t have to worry about the maintenance of the landscape or the hassle of having to drive out to a place to maintain their fitness or weekend health activities with their family, because Myra Gardens is built to meet all their basic needs,” said Wendy Lim, General Manager of Sales and Marketing.

Understanding that security is one of the main priorities for landed homes, Myra Gardens ensures the safety and assurance of residents in its 24-hour gated and guarded township. To safeguard the well-being of the community, a 2-tier security is implemented with a central guardhouse to oversee its security operations throughout the township.

Dubbed as an upcoming prime area for property development which has a steady increase of residential activities within the past few years, Kundang is placed in a highly advantageous location between Rawang and Sungai Buloh which is accessible to major highways such as the Guthrie, LATAR, and North-South Expressway within 10 minutes. This offers Myra Gardens homebuyers great accessibility to public transportation and freedom to connect to KL and other major cities, either for work, their amenities or attractions with a breeze.

In further aligning with their mission to help first-time homebuyers to purchase their first dream home, Myra Gardens offers financial help in partnership with KPKT MyHome to first-time homebuyers by offering them an incentive of RM 30,000 for their downpayment without burning a hole in their wallet. With additional benefits from the Home Ownership Programme (HOC) 2020, homebuyers will be exempted from paying stamp duty for Memorandum of Transfer (MOT) and loans, making Myra Gardens Starter Homes the ideal cost-effective home to build a growing family for young adults.

“It’s not a secret that owning a landed property in or near the Kuala Lumpur area can be difficult, more so finding a reasonably-priced one. With Myra Gardens, first-time homebuyers can finally get their hands on a spacious and elegant home, while enjoying the peaceful landscape and exclusive resident clubhouse amenities. We are confident that Myra Gardens will definitely be a great addition to the Kundang community, and we will continue with our mission to provide practical and value-added homes to Malaysians,” added Wendy Lim.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter.

Like Myra Gardens Starter Homes? For more information, visit
www.myra.com.my
.

— End of Press Release —

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Press Release: No More Homebuying Hassle With MYRA’S Homebuying Hub

Over the years, the property industry has not witnessed a significant change to the complex process of homebuying. Recently, Myra introduced their website with a simple 4-step process to ease the homebuying journey for first-time homebuyers. As the latest addition to Myra’s educational ecosystem, they bring us a new digital platform – a home booking web app, Myra’s Homebuying Hub, to continue their mission by curbing existing obstacles in the current conventional home booking process.

The new booking app, accessible through Myra’s website, simplifies the entire purchasing process as there are templated examples of documents to submit as well as other information provided to guide you on your home buying journey along with an online calculator to work out your monthly bank loan repayment instalments. Purchasers will easily be able to upload documents into their personal folder onto their profile on the app. Myra will then be able to review the documents and offer assistance in terms of document submission. The app also serves as a portal to update purchasers on their booking.

Myra is committed to making a difference

Having a young target market, the team at Myra is well-aware that the entire journey of buying a home is long-winded and tedious, especially the process of home booking because it involves many things that first-time homebuyers are not familiar with.

Wendy Lim, General Manager of Myra said, “We started with what we could with the website, a simplified fun 4-step journey that summarizes the entire homeownership journey into layman terms. After receiving positive responses, we began to think more about how we could improve the entire experience for a young homebuyer.”

As the main majority of Malaysians is equipped with limited access to homebuying education, Myra’s Homebuying Hub acts as an additional branch of education on their current website to focus on the other areas that homebuying holds and provide better, more informative and guided education.

Digital solutions to current challenges

Myra’s Homebuying Hub was created to solve two main problems – the lack of convenience and the thirst for knowledge. Firstly, Myra customers will be able to get the best, most seamless experience possible. Secondly, the information on the app closes the knowledge gap through education and awareness.

As exciting as it is to purchase a home for the first time, homebuyers will need to calculate installments, current repayments, interest rates and Debt Service Ratio (DSR) checking. In most instances, these tasks are done manually and written down on a piece of paper, inconveniencing homebuyers should they lose it and are unable to recall these important calculations.

With app features like online instalment calculators, DSR calculation rating, document submission guide and additional tips for homebuyers, Myra ensures their homebuying experience is smooth and educational for their homeowners.

In the past, document collection for the purpose of loan applications was also a highly inefficient back-and-forth manual process for all parties involved. Often having to make personal visits to the developer’s office to provide documents such as EPF statements, EA form, income tax and more, young first-time homebuyers are likely to be overwhelmed by the load of documents that they need to prepare.

Now, both parties will be able to skip the tedious manual liaising processes and Myra can streamline everything digitally as well as issue an official receipt upon payment. Homebuyers, on the other hand, will enjoy having an easy point of reference for any documents that they will need to complete the booking, and at the same time, receive quick assistance from the Myra team throughout the journey to owning their home.

Ultimately, Myra homebuyers and prospective homebuyers will have a digitally housed copy of all necessary documents that they would be able to refer to or download for their future usage and reference – even if they were to not proceed with their current Myra-booking or reconsider buying another home in the future.

“We want to build an entire Myra-ecosystem that every single individual who wishes to be a homebuyer, to look into anything related to homes or homebuying would come to. The booking app might be one of our first innovations, but it certainly would not be our last,” Wendy added.

Set to be launched in January 2021, Myra’s Homebuying Hub will collect, store and handle personal information of individuals in accordance with the Personal Data Protection Act 2010 (“PDPA”) and has obtained SSL Certificate to ensure the security of every app user’s privacy.

For more information, visit
 www.myra.com.my
.

— End Of Press Release —

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Press Release: Setting the Property Priorities Straight- Myra Impian Value-Adds to Growing Communities in Nilai

As the southern gateway into Klang Valley, Nilai, the capital of Negeri Sembilan, has witnessed rapid development over the past few decades. In the 1990s, its state government initiated a plan to transform the town into an educational and research hub. The initiative, combined with the location’s good connectivity, amenities and infrastructure, catapulted the town into a hotbed for both homebuyers and investors.

In its initial stages of development, Nilai’s residential property scene flourished with homes catered to growing families, especially landed homes that adequately accommodated the town’s increasing population. However, high-rise projects soon became a more viable option for the influx of student population, teaching faculty, and factory and airline employees — due to the strengthening of Nilai’s status as an educational and industrial hub, along with its close proximity to KLIA.

This influx resulted in an increase in demand for high-density and smaller residential units as temporary homes, which attracted property investors, and in turn, reducing the supply of homes meant for permanent housing for growing families.

Bringing the Focus Back to Homebuyers with Myra Impian

Myra Impian, the latest 20.217 acres of mixed development by property developer Myra, acknowledges the lack of homes designed and built for families and communities. This new township in Nilai will offer practical starter freehold homes that are tailored to individuals with different needs and come with commercial components to provide residents with the utmost convenience.

“The current residential developments in Nilai are saturated with high density and high-rise projects that are catered to investors. They consist mainly of studio and dual-key layouts, with unit sizes that are often on the smaller side of the scale, ranging from 380 sqft – 1008 sqft. Based on our market research, we felt that there was an opportunity to address the need and gap for the own-stay market, and Myra Impian is our answer for the people who are experiencing the lack of developments that are able to accommodate not only growing families but also working professionals and semi-investors in Nilai,” said Wendy Lim, General Manager.

A Self Sustaining Township for All Walks of Life

To be launched in Q4 2021, Myra Impian aims to follow through with Myra’s successful track record of building self-sustaining townships for homebuyers of every age with different needs. Poised to be a highly-anticipated addition to an already matured and growing township, Myra Impian comprises 5 phases that encapsulate 2 serviced residences catered to young individuals and other commercial facilities. It is a township designed to adapt to the homebuyers’ needs in different stages of life and is thoughtfully conceptualised in collaboration with VERITAS, one of Malaysia’s top architecture firms that has won multiple prestigious awards for their contribution to the design profession and to the built environment.

Facilities that are designed to enrich residents’ day-to-day lives must be present for a township to be fully considered self-sustaining. Therefore, it is one of the features that Myra Impian residents can definitely look forward to. The wading pool, kids playground, and game room are examples that can further help young families develop a stronger kinship and grow together. For community-building activities, the multipurpose hall and lawn can cater to an array of events, while the BBQ area is where everyone can gather and bond over great food. To wind down after a long day, residents have the option to relax at the swimming pool or amuse themselves with a book in the designated library room.

Launch of Phase 1: Ara Serviced Residences

Slated to be the first phase to launch in Q4 of 2021, Ara Serviced Residence @ Myra Impian, which is Myra Impian’s first serviced residence, consists of Tower A and B, will offer units that provide flexibility, various options and different spaces for buyers with specifically distinct needs.

With a total of 3.459 acres and a GDV of RM203,751,400, Ara Serviced Residence @ Myra Impian comprises 546 residential units with 8 different layouts that boast flexibility and practicality. Type A units (1055 sqft, 198 units) are optimized for space, ideal for young families with up to five children. Type B (158 units) also fits the lifestyle of growing families but emphasises privacy, which could appeal to slightly older occupants with 3 design options that range from 872 – 915 sqft providing more versatility in terms of how occupants choose to utilize their spaces.

Prioritising simplicity and practicality in adapting a work-living space, Type C proves to be a great choice for working professionals (893 sq ft, 64 units). For semi-investors who prefer both own-stay and renting out, Type D (753 sq ft, 96 units) allows for a clear partition of spaces to set boundaries. With a spacious floor plan similar to landed property, Type E (1884 sqft, 26 units) caters well to multi-generational and elderly families, while Type F (1044 sq ft, 4 units) is built with features that alleviate the lifestyles of the disabled. All units are designed to fit the different lifestyle needs of homebuyers, which starts from RM279,720 to RM585,900.

More than serving the variety of buy-to-stay individuals in a market that focuses primarily on investors, Myra Impian taps into the town’s available and upcoming amenities to provide its residents with further conveniences, such as the East Coast Rail Link (ECRL), where Nilai will be a second stop, that will provide passenger and freight services. Besides the ECRL, the KTM, and the connectivity offered by North-South Expressway, ELITE Highway, LEKAS Highway, and KLIA Extension Highway will further strengthen the town’s appeal to homebuyers and investors.

“Nilai is one of the fastest-growing towns within the region, and we see plenty of room for growth for the development of residential projects for the own-stay market here. With the government’s plans for major developments in the near future, like the Malaysia Vision Valley 2.0, which is an extension to the Kuala Lumpur conurbation, we believe that there is a bigger residential gap to bridge for Nilai and its residents, and Myra hopes to play its role and be a part of the solution,” Wendy said.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit
http://www.myra.com.my
.

-End-

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Press Release: Are you game to own a home?

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