Over 1,400 sqft, 2 car parks and still affordable. Why not?

I fetched a good friend and her colleague out for dinner yesterday night, after at least 1 year of non-stop postponements. I think it’s her fault. Haha. Anyway, she told me that she was staying in Dataran Prima condominium. This was one place that I wanted to view three years ago when I was looking to move from my Kelana Puteri home. Somehow, I did not manage to view it. Anyway, her colleague who’s from
 Kota Kinabalu
 said that the condo should be around RM400,000. I laughed and said, “this is Kelana Jaya and this is considered an okay location. I don’t think it can be this cheap.” The units they were staying in was the 1,037 sq ft type. If only I could still afford and it’s really RM400,000 then perhaps I should buy and rent to them instead! Then I urged my friend to buy the unit and rent back to her company instead. She laughed. Perhaps not that easy.

Today, I checked in iproperty.com.my and found out that it’s probably RM520 – RM580 per sq ft (Image on top), depending on size may be more likely. I think at this price, the buyer may get a renovated unit and maybe with some electrical goods thrown in too. The condo is now 11 years old, as per
propsocial.my
 (Refer to image). It comes with two car parks which is definitely a plus. There are only a total of 327 units which meant that this is low density by today’s standard.  These days, the newer projects are over a thousand units.
Some affordable ones

are a few thousands units and priced similarly as these older secondary units. Of course newer units also meant that potential capital appreciation when its completed later in a few years’ time. Imagine both similarly priced and nearby to one another, one is newer and another is older, of course the newer one would be higher priced.

Based on the potential rental, I do not think the
rental yield can be positive.
 Richer tenants may stay elsewhere and poorer tenants may not be able to afford too high a rent, for example over RM2,000 per month. However for own stay I think a family with kids would enjoy it with the convenience of its facilities and even three malls nearby. Citta Mall (8 minutes), Paradigm Mall (11 minutes) and Tropicana City Mall (11 minutes). Happy viewing if you also like the price and the location.

written on 9 Nov 2016

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Press Release: Datumcorp launches “#DatumHomesforAll” campaign

Press Release:
DATUMCORP LAUNCHES “#DATUMHOMESFORALL” CAMPAIGN

·      First developer to gamify corporate responsibility with Datum Tap Game

·      Launches four added-value packages for homeowners and investors

Kuala Lumpur, Oct 6 ~ Datumcorp International Sdn Bhd (DatumCorp), a wholly owned subsidiary of the Perbadanan Kemajuan Negeri Selangor (PKNS) has launched its #DatumHomesforAll campaign, at its Datum Galeria sales gallery located along Jalan U Thant in Kuala Lumpur today.

YAB Dato’ Menteri Besar Selangor, YAB Tuan Amirudin Shari, and DatumCorp Chief Executive Officer, Shytul Shahryn Mohamad Shaari officiated the launch of the campaign at an event held today.

The #DatumHomesforAll campaign aims to cement Datumcorp’s community-building aims by achieving two objectives.

The first is to increase awareness amongst the public for the contributions of the Orang Asli community to the state. This will be Datumcorp’s first corporate responsibility initiative anchored by the Datum Tap mobile game, the first of its kind in Malaysia.

The second is to ease home ownership and investment in Datum Jelatek through four unique special year-end packages to celebrate the launch of its first corporate responsibility initiative and its work progress with the aim to provide investors and potential homeowners even more value when they choose to be part of the Datum Jelatek community.

The packages are The Voyager Pack, Wealth Boost Pack, Blooming Pack and Pro-C Pack which are designed to cater to the unique needs of individual buyers.

The event saw an MoU signing between CEO of Datumcorp International,
Shytul Shahryn Mohamad Shaari, and Epic Society President, John-Son Oei marking the launch of a first of its kind Datum Tap game which allows players to help Orang Asli communities by playing a tapping game on their smartphones, while having the chance to win prizes.

Epic Society is a non-profit organization that has a flagship programme which aims to build homes for the underserved Orang Asli communities. According to UNDP, 34% of Orang Asli live in poverty, equivalent to one third of the entire population. Homes are of great importance to the indigenous people, as it is deeply linked to their identity, job opportunities, community and the land itself. Helping a family own a home, helps the family break the poverty cycle.

John-Son Oei said, “We are delighted to be the beneficiary of Datumcorp’s first corporate responsibility campaign. The Datum Tap game is a brilliant way to deliver a ripple effect across the community. While typically a mobile game is usually for fun, and winning prizes, Datumcorp brought it to another level, where the game actually translates into actual homes for the communities in need. With this, the Orang Asli culture can be celebrated together through the game as more people come to understand their importance as part of our nation’s rich artistic and cultural heritage; hopefully inspiring Malaysians to unite to lend a helping hand.”

The Datum Tap game is a unique mobile game which is downloadable on iOS and Android platforms. It allows players to collect planks by tapping on their smart phones to build virtual homes for Orang Asli.

Participants who are interested to play must like the official Datum Jelatek Facebook Page, log in to the mobile app game with an authentic Facebook account to their progress, which will gain in-game virtual rewards that gives them a chance to be in running for the grand prize and weekly prizes.

At the end of the campaign in January 2019, Datumcorp will turn the virtual homes into actual homes for the some of the most deserving Orang Asli families with the help of EPIC Homes.

The weekly prize for players include Huawei P20 Pro (thirteen units in total to be won) and the grand prize, which will be announced on January 2019 is a six-day and five-night trip to Osaka. The weekly prize winner will be announced every Sunday while the grand prize winner will be announced on 12th January 2019 during the Grand Finale Event.

Datum Jelatek is the first of DatumCorp International’s RM 1.2 billion (gross development value) transit-oriented integrated development which is anchored on the idea of “Bridging the Community.”

For more information on Datum Jelatek, please
www.datumjelatek.com.my
 or follow its Facebook.

— end of press release —

On 7th October 2018 (Sunday), we should not miss a talk by Agnes Ong, Chartered Accountant Syarikat Ong in Datum Galleria.  Time: 12 – 2pm.  Title: “Proptax Lifecycle in the SST Era”

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Yes, I agree with David Beckham’s retirement views

I am not a Manchester United supporter. Don’t laugh. I have been a West Ham supporter for at least 15 years, ever since my first job. Well, a famous former Manchester United player, David Beckham said that the best thing about retirement is getting to spend quality time with his family. This was in an article I read in The Sun Daily. Hey, this is so true! He is just 40 but I think everyone knows that he is the face for many luxury brands and he has even been acting! Today, he spends a lot of his time with his wife, Victoria also 40 and their children. He has three sons and a daughter. He said that he misses the games but the transition has been easy. Today, he may travel for 10 days for work but then he would be home for 6 weeks.

Many years ago, I told my wife that my goal which she has since adopted as her own is this. My wife and I may be having a breakfast in KL when we get a call from my brother-in-law that he would like to bring us out for dinner in the evening in Sandakan. Well, we could fly there with the next available flight since both of us were not working, by then. After dinner, we would stay in Sandakan for a few days before flying off to our tiny little vacation home in Langkawi before flying back to Kuala Lumpur and driving home to Ipoh my beloved hometown. Haha. None of this has happened yet. I am still working very hard, full time and am still trying to invest and gain good returns so that I may retire earlier than than expected 60 years old.

The places I stated above are all in Malaysia because I have zero plans to move elsewhere. Perhaps for vacations maybe I love Australia, Hong Kong, Japan and more but my permanent home will always be Ipoh, Malaysia. Maybe I am just a small time ‘budak kampung.’ I was born in Teluk Intan. In total, I think I have been to around 19 countries and many of these countries have environment which I would rate above Malaysia. However, none have the food diversity (I live to eat) and none have as many of my relatives and friends that I could visit often and whenever I wanted. Plus lots of other reasons including the opportunity to gain more from my investment simply because of the current demographics.

I personally believe that to retire is not to sit down and watch TV. I believe we should all strive to have more quality time with all our loved ones. The worry for money should be lesser and instead of work-life balance, it would be time-life balance. Time is because the time lost is lost forever.Thus, it should be on how we balance our available time with what we love to do. That’s time-life balance. Yeah, yeah, if Korean drama is the only thing you love to do, please go ahead. Thanks David, I will persevere towards retiring as early as possible so that I can spend more quality time with my family and loved ones. Not so soon, that’s for sure but well, definitely before 60. What do you think about this ‘retirement topic?’ Do share.

written on 23 Sept 2015

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I worry about retirement because…

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What a day of happiness for everyone in the property market

Date: 1st April 2018

It was reported in the media just this morning. According to the Minister of Property Affairs and Affiliation, Ms. April Hoo, the government will be taking the following proactive measures to ensure everyone gets their first home, everyone gets to upgrade their homes and anyone preferring a landed property will get their wishes too. The day that everyone has been waiting for is finally here.

First-time home buyers would now get to choose between a 800-850 sq ft for RM20,000 each or a 1,000 sq ft for RM200,000.  (The reason for the 1,000 sq ft being so expensive is because there are not many of these being built but there are lots of available units of 800-850 sq ft in the market from the state and the federal side).  Yes, just RM20,000 each!

Upgraders would also get a one-time offer. They get to choose a unit which is 100 percent bigger than their current unit and they only need to pay an extra RM50,000 for this upgrade if they give up their current home. For example, if the owner has a 1,000 sq ft unit currently, he could choose units of up to 2,000 sq ft and the maximum payment he needs to pay would only be RM50,000!

Landed properties would also now be built throughout the city. Any office building with less than 80 percent occupancy for 6 months will be identified and torn down to make way for more landed properties. According to some statistics, this meant that a total of 10,000 new landed homes could be built almost immediately because the current occupancy is said to be lower than 80 percent for many older office buildings.

All these would only be effective if the applicants apply directly to the ministry within today. The person in charge would be Ms. April Hoo’s sister, Ms. April Foo. Just write in to the
official email here.

(Hopefully it’s working because as you know it may be jammed due to all these unbelievable offers on the April’s Fool day.  Happy applying and see you again tomorrow!

written for April Fool’s Day.

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Days of queuing to buy condos are over?

I was in Penang last weekend for a house warming party. One of my former staff had bought the unit many months ago and had just moved in. It was at IJM’s Summer Place, a condo which I ‘instructed’ my sister to buy and cancel her booking of another condo unit which was cheaper and bigger. Reason was I do not trust that developer. She listened and today her RM299k property has appreciated to RM650,000. She bought an additional car park as instructed too. After the dinner, one group of us were chit-chatting and relating some of our crazy experiences many years ago in Penang during the boom. A rich friend said that he did not even wanted to buy his first property but because someone was asking for the unit he was looking at, he quickly booked it and in the process earned a huge profit.

I told him about my experience. I was at the developer’s office, looking at a unit which seemed reasonable and after a quick explanation decided to book it. However, it was booked few minutes earlier by an aunty seated right behind me in another table. I had to book a higher floor but as it was during those times, that 8th floor high rise condo has appreciated nearly 100% today. Another friend related the queue at The Vertiq, another IJM project for which queue started few days before the property launching happened. Those who queued were rumoured to have been paid RM1,000. Yes, those were the times. Today? Well, there are many developers who continue to sell their projects with a different reason in every different event. ‘Limited Units Launch’, ‘Only Limited Units’, ‘Limited Small Units’. I am not sure how long some of these developers would be selling their properties.

So, are the days of queuing up for properties over? Well, for attractive ones, apparently its not. Just last weekend, 70% of the units being launched were snapped up in a few hours and after 2 days, 80% of the total launched 350 units were snapped up. In fact, the first early bird arrived at 4am!! The property we are talking about is Liberty Tower @ i-City, Shah Alam. We seldom hear of these nowadays. A check online showed that its size ranges from 466 – 796 sf and will have the modern New York lifestyle plus its connected to a 1.5 million Central Plaza Mall. It’s jointly developed by Central Pattana, Thailand’s largest developer of retail properties and i-Berhad. Prices start from RM360,000 which is considered easy entry but prices per sf is not that low by any comparison.

Okay, I think the days of queuing really do depend on the property attractiveness these days. One of these days, we may be queuing next to one another. Not Shah Alam, maybe somewhere less popular but going to be popular. 🙂

written on 3 Nov 2014

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Be thankful that we are restricted at our home. Some may be less lucky.

Is it tough to stay home and NOT going out? Apparently, it’s so tough that people are willing to risk driving far away from their home, got caught and may face the prospect of fine and jail time. There was even one news of someone shouting rudely at police officers who were facing high risk of infection just to do their job. Today is the day 15th of the Movement Control Order (MCO). Yes, I do prefer to face traffic jam and yet is able to go anywhere I want versus staying at home for the next 2 weeks. What’s worse than staying home? Well, how about having a place to call home? That minimum requirement; a shelter?

Article in edgeprop.my
  In the city centre, some 510 homeless people have been homed in two transit and four community centres by Kuala Lumpur City Hall (DBKL).  This is to keep them safe while the MCO is in place. KL mayor, Datuk Nor Hisham Ahmad Dahlan, said, “We will continue looking for them in the capital and saving them throughout the MCO. Some are in hiding to protect against COVID-19.”

He added all these homeless were put through a COVID-19 test before they are homed and so far no one has tested positive. He said the placement is based on three categories: the healthy, those with a communicable disease, mental illness and drug abuse issues, as well as non-citizens. He said non-governmental organisations are welcome to contribute to these shelters but they must get the help of the Welfare Department (JKM) and “follow the National Security Council (MKN) SOP (standard operating procedure)
Article in edgeprop.my

It’s worth nothing that housing remains the single most expensive thing in what we spend every month, most of the time. In fact in some countries, the mortgage is could be as high as 70% of what they earn every month. Rental too.  Read here:
Rent Insanity
  This is why it’s a logical step to buy a home, even if it’s just a small one, just an affordable one, just one 35km from the city centre, whatever. Buy one. Happy understanding.

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KL land scam to be solved with RM120 million in compensation?

I think this is still a hot topic in terms of land sale,especially when it involves DBKL and private developers. This is especially so because it happened before the GE14. We get a little more clearer on the issue today. Remember Kepong MP Lim Lip Eng’s report with the MACC on May 16, alleging that were there scams involving the sale of DBKL land deals under the purview of former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor?
Here’s that article in TheStar.com.my today.
 Federal TerritoriesMinister Khalid Abdul Samad said that about RM120mil in compensation will be paid to reacquire land that had been sold by Kuala Lumpur City Hall (DBKL) under the Barisan Nasional administration.

He said that the sale of the 14 hectares of land, in 10 transactions, would be stopped and compensation would be paid to the would-be buyers. He added, “We will also recover money for the land transactions that are currently under renegotiation, which I will announce tomorrow (Oct 8).” Some other details mentioned in the article included that of 20 land ownership transfers which has been handed to the Malaysian Anti-Corruption Agency (MACC) for investigation. MACC has seized documents related to 64 parcels of land which had been flogged off without open tender between 2013 and 2018 by DBKL. The lands were valued at RM4.28bil. The deals, involving 172ha of land, were allegedly made through “direct negotiations”, rather than by open tender. Out of the 64 parcels of land, 16 lots or 37.24ha of land were sold to a single property developer for RM785mil.
Do refer to the full article in TheStar.com.my for reference yeah.

Okay, no comments for now. Wait for more announcements as to MACC’s investigation results as well as the reasons for the compensation if the land transfers were indeed part of a scam. What the public would want is definitely whether more affordable homes would be built in areas which they love instead of areas which are not that favourable to them; far away, no connectivity etc. KL median property price is the highest in Malaysia and land transactions would be one key reason for higher costs being passed through home prices. Happy following yeah. As concerned Malaysians, we must follow this story closely.

written on 6th Oct 2018

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Dear neighbour, be good to one another.

I am a Malaysian. Period. When my central bank says it’s against Malaysia’s foreign exchange administration (FEA) policy and rules, then it is also my responsibility to do my little part to tell that to my neighbour. I have no idea what’s the actual reason for them to start this (other than profits) and I hope it would soon be awesome again between us and them, relationship wise.

Full press release from BNM as below:

BNM Stance on Ringgit Currency Derivatives Products in Offshore Market

Ref No : 08/17/08 09 Aug 2017 Embargo : For immediate release

The recent introduction of the ringgit futures at the Singapore Stock Exchange (SGX) and the Intercontinental Exchange (ICE) or ICE Futures Singapore is inconsistent with Malaysia’s foreign exchange administration (FEA) policy and rules.

The Malaysian ringgit is a non-internationalised currency and thus, offshore trading of ringgit, in any form whether as a non-deliverable forward traded out of offshore financial centres or as a futures, options and other derivative contracts on exchanges outside of Malaysia, is against Malaysia’s policy.

Bank Negara Malaysia (BNM) would like to remind all market participants to observe the existing FEA rules. Contravention of the FEA is an offence under the Financial Services Act 2013 and Islamic Financial Services Act 2013. Appropriate action under the law will be taken against any person that does not comply with prevailing rules and regulations. Foreign participants should access the onshore ringgit foreign exchange market to meet their financial needs, either directly with onshore licensed financial institutions or their Appointed Overseas Office (AOO).

Bank Negara Malaysia

09 Aug 2017

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Debt free is NOT financial freedom BUT it’s a good thing too.

Many years ago, a close friend told me that she’s very close to finish paying off her RM700,000 loan for her 3-storey landed property. That was just a few years after she had purchased the property. She was worried with debts.  I think she is now debt-free. She also goes for overseas holidays BUT only when she has saved enough for it and when she’s there, she does not spend beyond what she has planned. I am not joking. She keeps a full list of every cent she spends on a daily basis.

A relative also told me that he hates to carry debts and will continue to pay up for his home loan as soon as possible before thinking of the next investment opportunity. His SUV was supposed to be fully paid for within 5 years which is much shorter period than most car loans including mine. For both, their focus is on becoming debt free. During times of crisis, these people will sleep better every night versus someone with a lot of loans to be paid.

Source:
https://dictionary.cambridge.org/dictionary/english/debt-free

Here are 4 things you could do if you seriously intend to be debt-free at some point in your life.

There’s no need to impress anyone
. The latest new handphone of RM5,000? Forget it if the current one still works well. If the current one needs a replacement, then finding out all the affordable options of 3Gb RAM, 32Gb storage and a good enough camera will just be RM599 or lower… That RM5,000 will mean an instalment of 12 months and the RM599 is just one time payment, thus no debts incurred. Would our friends be awed by our RM599 phone? Reminder, there’s no need to impress anyone…

No savings, no holidays, please.
I know, the flight ticket is cheap. It could even be free and we only pay the airport fees for example. However, in a typical trip, the expenditures other than the flight ticket alone is likely to be much bigger. The food, the accommodation, the entrance fees to attractions and the attractive souvenirs will usually use up a lot more than what we anticipated. This is why if we go for holidays only with our savings, then we will not incur debts which we will need to keep paying after our holidays.

Disciplined and in full control.
 Browsing online and saw something you wanted to buy? In the mall, walking past the handbag or the shoe shop and both were showing their latest designs?. Loving the new designs and having the intention to own everything new is quite common. However, if we think along the lines of being debt-free, than buying and buying will mean paying and paying for many months ahead. Remember, a few more of these online or mall visits will mean debts beyond just months.

Debt-Free is a lifestyle.
 How much we earn per month does not determine how much savings we have. (Please still try to climb the corporate ladder and earn more yeah) It’s how much we spend that will determine how much we have at the end of the month. It’s also how much we spend that will determine if we start to fall into the debt hole which gets harder to climb out from the longer we fail to realise it. For the ones who wants to be debt-free, they need to make this into a lifestyle.

By the way, financial freedom / independence is not the same as debt-free yeah. However, debt-free will be a good foundation for us if we intend to start thinking about investing. As for how do we start our investment journey, that’s a totally different article yeah.
Perhaps we start by reading about the reasons to start property investment then? Click here.
By the way, in Malaysia, bad debts are getting worse yeah. Materialism is one major cause of it and the acceptance of the price
of a cup of coffee in a cafe is not helping too. Read here.
All the best and please do not blame anyone when our financial discipline is in a mess yeah.

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Debt Free, really?

Everyone loves to be debt free. Truth is, I want to also be debt free. However, one level above debt free is financial success. Debt free is not financially successful? If you bought a RM500,000 property, takes up a 15 years repayment period and finished paying everything in 10 years. You are now debt free and your property is worth RM800,000.

However, tell me, what’s the difference between staying in a RM800,000 property and having RM800,000 under your bed? There’s little difference but if you must argue, ok, you have potential capital appreciation and you save on rental. Hardly amazing reasons. However, if you took a 30 year loan instead, save some mortgage payments and paid for a second smaller property, guess what, after 30 years you may have two properties instead of one for which you can sell your second property and buy your 3rd and 4th property. 🙂 You may have even sold your second property after 10 years for a good profit. Think about it.

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Why debts are a necessity for you and me

Can companies grow without debts? That’s an interesting question I believe. Actually, every company would have to take on debts. You may ask what about those companies where the funds came from the parents? Haha. Debts which you do NOT need to pay back is still a form of debt. The term gearing ratio is used for listed companies, especially the developers. The reason is because the public would like to know the amount of debt that the company is taking up relative to its assets. If the
gearing ratio is Zero
, it still does not mean that the investor would then buy. This may just meant that the company has nothing much to do and thus do not need to borrow any funds.

If the gearing is way too high however, many would exercise caution but some would still buy! The reason is because most of the time, before the company starts to earn a much larger profit than previous years, it’s gearing would go up first!  Buy land, buy materials, hire workers, buy lots of other stuffs and pay for lots of other stuffs BEFORE the final profit is finally realised when the key is handed over. This is one key reason why many do not prefer property stocks because if one would like to realise the potential of these
undervalued property counters
, it may take some time and thus harder for any speculators to suddenly earn lots of money. True?

In this case, what about the
rising household debts.

Surely this is bad for the country because we are already at 87.9% of GDP where household debt is concerned. When we look at the demographic of Malaysia today as well as the fact that formation of family is still continuing and baby shops are increasing, I think the answer is quite clear. This percentage may continue to increase UNLESS the number of affordable homes suddenly flood the market and cause prices to really stay stagnant for a few years. The reality is, despite all the hype at both the federal and state government level, the numbers of these affordable homes can hardly be said to be flooding the market.

I think this situation of high household debt would still continue. Yes, more often than not, the level of debts we have versus the assets we have is always higher on the debt side. Over the years, we can then slowly turn these productive debts into assets.  The more important factor we must keep in mind is on whether the debts we incur is for future growth or for the enjoyment today. Of course, never overstretch but even more important is not to stay stagnant and do nothing. Last but not least, no one should be over-confident no matter how much experience or wealth gained thus far. Happy investing.

written on 5 Apr 2015

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Decathlon in Sri Damansara, worth a visit definitely.

Another small reason why buying a home within Damansara is good. Haha. Specifically, within Sri Damansara. Small reason lah, not major reason. This is what Decathlon said in its Facebook opening remarks: At Decathlon we have 50 sports under 1 roof. It’s the ultimate sports shopping experience! Hiking, running, swimming – we have it all, and now we’re finally opening up in Malaysia! My in-laws went before I did and spent close to RM700 there. In fact they spent close to 3 hours there and I wondered what did they buy.

I recently dropped by and I think I understood why. Choices, choices and choices. Haha. For those who are into sports or just love browsing through lots of different choices, this is a shop you must not visit. Swimsuits for your loved ones. Bikes including even foldables. Lots of space for you to try out and that includes even a full ping pong table too. Needless to say my daughter ran all over the place and had lots of fun too. Oh yeah, hiking shoes start from RM59.90 and it is of decent quality versus those in the market for below RM100 of other brands.

Oh yeah, right next door is Courts Malaysia’s new “next generation store.” Courts Asia Ltd group chief operating officer and Courts Malaysia acting CEO Tim Luce said in an earlier article I read online, “Working in collaboration with an international design-led retail agency, the store boasts a number of retail firsts that allow for a more intuitive and immersive retail experience that puts the customer at the forefront.” There’s one addition which I like. It has a dedicated service beacon to offer end-to-end solutions to customers, such as installation, maintenance and repair service. Let’s hope all their staffs would be able to provide the best service possible to all customers. As of now, seems okay. Happy visiting.

written on 21 June 2016

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Decathlon: Great selection, good prices and fun for kids

As a guy, I am in the minority when it comes to shopping. I meant I love to shop! I am not the kind that goes to a mall, buys what I need and leave. I am definitely not a guy with two pairs of leather shoes; one black and one loafer for example. I still have three pairs of unopened leather shoes currently. Two Hush Puppies (one black and one orangey brown) and one Italian brand (trendy black) which I have forgotten the name. So, I am a good reference when it comes to shopping for leather shoes. Haha. As for sports gear, equipments and  other products, I have grown to love browsing Decathlon once every month. My kids treat it like their playground too.

When it comes to buying sports shoes, racquets and even hiking equipments, we would usually need to go to more than one store. Well, we could also go to ONE store with everything under their roof; Decathlon. This time, I dropped by Decathlon Shah Alam. My earlier article about
Decathlon Sri Damansara here.
 I learnt that the larger the size of the store, the more we get to enjoy! Today, I actually have the chance to play pingpong versus myself. There were three ping pong tables for people to try out!

The current court shoe I am wearing is Li Ning but today I bought a comfortable and affordably priced court shoe in Decathlon. Will have to see if it lasts. we could buy the usual brands we have grown accustomed throughout our lives or we could go for quality in-house brands in Decathlon. They claim to have selection for over 70 sports and well, I think they are honest! The Decathlon Shah Alam is their third store in Malaysia, and they aim to hit a total of 60 stores over the next 10 years. Join as a member and when we buy 5 things, they give us a super huge and friendly reusable bag.
 Here’s their website.
Friendly and easy and yes, we could also buy stuffs too. Looking forward to visiting the next Decathlon.

written on22 Feb 2019

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Decathlon has reopened and this is what to expect if you intend to visit too. This is for Decathlon Sri Damansara yeah. I have only visited this particular one on Saturday (4th September 2021)

Sports Lovers, Decathlon is definitely one very good place to visit

I used to go Decathlon every other month and this is probably my first visit after 3-4 months. It has the diversity of sports… It has the diversity in choices for every level; from beginners to amateurs and maybe also the serious ones. I learn so much about other spots whenever I am there too. Plus the fact that everything can be tested and tried too. Plus friendly staffs!

Okay, about choices, I have been wearing a Decathlon badminton shoe for some time. Cannot say it’s the best because I bought the mid- range. They do have a base range they call the ‘Technical.’ The price is really attractive by the way. I am very sure if we buy the more expensive one, it will be even better in quality too. Now, let’s talk about my visit.

Yes, everyone was asked to show their vaccination certificate

They have one staff checking everyone’s smartphone. Only the fully vaccinated ones could enter and they have a banner with the dates specified. Hopefully, no one tries to enter with a fake full vaccination screenshot. If they do catch that person, please report this and give the video recording to the authorities. Let’s keep everyone safe. There was also a queue forming because of this personalised checking too.

If you do not qualify, please do not come yeah.

What about the number of visitors to Decathlon?

I could find a parking spot immediately versus needing a couple of minutes when I come during the weekends previously before the current reopening under National Recovery Plan (NRP).

Visitor wise, I think it’s safe to estimate it at around 10-15% of their usual. There were also kids. Some sections are closed, for example, the Camping Equipment section. I guess they just do not wish for people to have any close contact to one another.

As everyone who has visited Decathlon Sri Damansara would know, there is sufficient space between different sections and thus, when I visited this time, it does feel very spacious.

What about people ACTUALLY buying?

When my wife wanted to pay, there were available counters and many Decathlon staffs were ready to assist too. At the same time, there were a few other customers also paying for their goods too. So, yes, people were not just visiting but they were also shopping. Maybe they just need a new running shoe too.

People are paying

I will be back. I like to buy a few new socks.

I just realised I needed some new socks. I have been rather active with my brisk walking for the last 4 months. I cover around 200km per month. For September, let’s aim for 270km. So, I should be back next weekend probably for the new socks. I wonder if there would be any of them under special offer too. Wishing all of you a safe visit too.

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Decision to buy a property? These 3 things DO NOT MATTER, please.

Property market Malaysia’s trend

Someone sent an article into a whatsapp chat group and suddenly many people were debating about it. The article was about the
Malaysian property market, whether it will be going up, going down or staying stagnant. Click here to read.
Some say property market will not be good for the next 12-24 months. Some say it will be better once we relax the lockdowns. Want to hear what I say?

If property market is stagnant?
If the property market is stagnant, it means transactions are not happening. Means even if there are property buyers, there are no property sellers. Alternatively, maybe we have many property sellers but there are no property buyers. Last but not least, we just have no buyer, no sellers and basically nothing happens in the market.

Plus, the developers are not launching any new properties at all. Maybe they have finished selling all their properties and have nothing new to launch? I hope that by now you should realise that the property market CANNOT be stagnant yeah.

As for the latest number from the market, in Q1 the total transactions numbered over 80,000 transactions. Forget this yeah. Market is very far away from being stagnant.

What if property market is DOWN then?

When property market is down, it means transactions are dropping. It also meant that there must be some comparisons, right? Else, how do we say it’s down? In 2020, we had a total of close to 296,000 transactions. This is roughly 74,000 transactions per quarter. Is this LOWER or higher than Q1 of 2021? Can we now conclude that property market for Q1 2021 is not considered on a downtrend? Thank you for agreeing.

By the way, there are definitely many ways of doing the comparison yeah. Maybe if we compare this to those years when the transactions were ‘crazily’ high, then the 80,000 units in Q1 2021 is considered on a downtrend. It’s your choice yeah. For me, Q1 2021 is not on a downtrend.

What if the property market is on an uptrend then?

Actually, when the property market is on an uptrend, we do not need to write much lah. At that time, Bank Negara Malaysia (BNM) will be more alert and will start to implement some measures to contain the sudden rise in transactions. For now, BNM is maintaining the Overnight Policy Rate (OPR) at 1.75% which is clearly a sign that it is trying to encourage more economic activities.

So, the property market cannot be considered on an uptrend too. Haha. So, what is the market doing today? Perhaps it’s best to ask three even more important questions instead.

Are we buying a property because we need a property? If Yes, then go ahead lah, it’s for long term anyway.
Have we done sufficient due diligence and we know the price we pay for the property is not overpriced? If yes, then go ahead lah, it’s for the long term anyway.
Are we buying because we believe our friend? If yes, then think again lah. What your friend need and what you need may be different yeah.

Our decision to buy has to include many other things. However, it should not include whether the property market is stagnant, on a downtrend or even going up. Bad decision exists in all markets. Wrong properties or overpriced properties also exist in all markets. Last but not least, buying without knowing and simply relying on the market means it like gambling too. Happy understanding.

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Property market declining AND recovering within 2019. :)

Okay, good news and bad news. Good news for people with ready downpayment for a home. Bad news for owners of properties in places where there’s an oversupply because demand is not big enough. Property prices will continue to decline in 2019 says PropertyGuru Malaysia country manager Sheldon Fernandez.
Article in TheMalaysianReserve here.
 He said, “Expect the downward trend to persist in the 1H19, but there is a chance of a market recovery — post third quarter of 2019 (3Q19) or 4Q19.” He added, “The initial optimism expressed post the 14th General Election is beginning to wear off as buyers are adopting a more cautious approach.”

He also shared that The PropertyGuru Market Index in 3Q18 revealed that asking prices by real estate developers and individual owners nationwide had dipped by 2.3% year-on-year and 2.3% quarter-on-quarter. The downward trend persisted despite the overall improved consumer sentiment of 42% with 53% of Malaysians wishing to buy a home by the end of 2018. Nevertheless this is not necessarily a negative development. He said that the present market conditions have compelled developers and private sellers to be more competitive in terms of quality, design ideas, ownership packages, as well as pricing. His other comments are here:
Article in TheMalaysianReserve here.

We should note that wishing to buy a home versus willing to do something serious about it are two different things. The request for the government to do more in providing affordable homes must also be followed with one’s usual spending habits. There’s just too many things to buy these days, right?
Here’s an earlier article about choices.
 Beyond just the focus on cheaper homes in areas we could not afford, there’s also the potential for areas we could afford. It’s usually a case of WHY versus WHERE when it comes to property purchase. In case everyone has forgotten, we used to have many MINING lands. For example Puchong and Sunway.  We also used to have ‘forests’ in faraway areas like Mutiara Damansara or even that premium address called Desa Parkcity which is actually in Kepong. When we focus on WHY, we will buy the correct property for what we need. That’s called due diligence combined with money intelligence. Cheers.

written on 24 Dec 2018

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Defensive stocks? How about ‘cosmetics’ related ones?

I have bought shares from diverse sectors of automotive, gaming, manufacturing, banking, pharmaceutical and even property. However, I have never bought any counter which focuses on personal care and cosmetics. Today, I would like to share just that since I read something interesting in the news.

My wife does not put on much make-up when she was working in the private sector just 2.5 years ago. She said, it does not make a lot of difference. I have colleagues who could not do without make-up. In fact I think there are many ladies who may not even come to work if someone stole their cosmetic set. I think this is one major reason why I read in a news report that the cosmetics and personal care sector is considered a defensive sector during a slowdown. Yes, I think this is definitely considered a CRITICAL good.

In fact, a recent Chinese New Year (CNY) advertisement proved it too. Watson’s CNY TV commercial focused on ‘pan leng leng, cap tou cheng’ (It’s Cantonese but translated into English loosely meant “make-up to look beautiful and groom ourselves to look great”) I always believe Watsons is a pharmacy chain? Perhaps it’s because ‘being beautiful’ is an easier message compared to ‘eat more medicine..’ The CNY advertisement can be considered extremely successful because my 3 year old daughter can sing/hum the whole song, even if most of the words are incorrect.

Aside from ladies, well, I must admit that just last week, I changed to a slightly more expensive facial wash as I wanted to look ‘younger.’ Haha. This is what happens when men gets older I guess. In conclusion, I think I should also start noticing some of the BURSA counters which are focused in the cosmetics and personal care sector. It would not show a sudden explosion in result but as we get older, perhaps investments should be centred on more defensive stocks instead. Dividends may be a better bet. Happy scouting for the right stocks and please drop me a note if you have identified a few okay. We can share information.

written on 16 Feb 2016

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Defer HSR? Everything’s fine. There’s no FINE. Remember that one time when Malaysia asked for High Speed Rail KL – SG to be deferred?  We asked for it to be deferred to May 31 2020? Then, we had to pay RM45 million. Yes, the date has just passed. There are no indication for cancellation yeah. If HSR is cancelled, the country asking for the cancellation will have to pay a compensation of
RM500 million. Refer here for the earlier article yeah.
Many reasons but one of it is because both sides would have spent some amount on preparation, so a compensation is needed.

Article in themalaysianreserve.com
  Senior Minister and International Trade and Industry (MITI) Minister Datuk Seri Mohamed Azmin Ali announced that the second deferment of the Kuala Lumpur-Singapore high-speed rail (HSR) project until end of 2020 will not involve any compensation.

Azmin said, “If we can conclude the whole exercise within three to four months, certainly we will meet again.” As for the potential cost increase for the HSR, he said, “Certainly, the inflation rate will push the cost up, but the mandate given to us when we defer the project in 2018 was to look at the costing, the new alignment and the design again, so that we will be able to reduce the investment.”

This was what Singapore said on the FINAL EXTENSION.“We look forward to receiving Malaysia’s formal proposal on the changes to the HSR project soon, so that both sides can begin discussions immediately,” the republic’s Transport Ministry stated. Please refer to the full article here:
Article in themalaysianreserve.com

Well, I think this should be the final extension already yeah. I personally think HSR is a catalytic project and that delay all the way to 2031 is just too long. Already that HSR line between China and Thailand is starting soon.
Agreement to be signed in October 2020. Read here yeah.
No other things to do for now except to wait for the meeting between both countries at the end of the year. Happy waiting to everyone.

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Definitely good news for the economy when traffic grows

Reference to
thestar.com.my
 article. Malaysia Airports Holdings Bhd (MAHB) announced the following: Passenger traffic to and from 18 countries registered double-digit growth, including the United Kingdom, Vietnam, Sri Lanka, Laos, Pakistan, New Zealand, Oman, Nepal, Mauritius, Kazakhstan and Japan which registered more than 20% growth. International traffic for Asean countries grew 6.9% to 1.8 million passengers whereas non-Asean traffic posted a 9.6% growth to 1.9 million passengers. The reason why this is so significant is because this is the first time that this has happened ever since Malaysia Airlines cut frequencies and routes in 2015. Besides that, due to the visa relaxation for China and India, the increase in visitors from these two countries were significant. From the airlines numbers, eighteen airlines registered double-digit growth for international passenger traffic. They include Malaysia Airlines,
AirAsia
 X, All Nippon Airways, Malindo, Xiamen Airlines, and Oman Air. Domestic passenger numbers however slipped very slightly by 0.7 percent to 5 million passengers.

The more the merrier. Tourists are always good. Remember the recent visit by King Salman of Saudi Arabia and his entourage of 600? They would spent many million ringgit, that’s for sure. Here’s the article:
Entourage of 600? Aramco and Petronas. Good for business too.

Perhaps it was also because of the ringgit’s current value which made us even more attractive to visit. Reminder though that Malaysia continue to have surpluses in trade numbers and statistically it should lead to a stronger ringgit. Three things we can think about if these numbers continue. First, buy relevant airline stocks or even MAHB’s counter.  Second, Get to know where these tourists are concentrated at and buy the stocks of hotels based there. Many counters to choose from. Third, buy a place and
start renting out via AirBnB!
 Returns are pretty lucrative it seems if your place is rented out often. Okay, this requires by far more significant amount of funds and calculated risks. Happy enjoying and I wish these numbers would only grow when we report this again next year.

written on 13 March 2017

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Deflation better than inflation, right? :P

Malaysians are worried about inflation. In fact every time the official inflation numbers are announced, it’s always considered as unrealistic. Then, everyone would claim that food prices are increasing so much because ringgit’s depreciating. Some parts of this argument about inflation is accurate. Well, now everyone wakes up to the news that Malaysia has hit deflation for the first time since the global financial crisis in 2019.
As per Wikipedia, this is the economics definition of deflation
.
“In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0%. Inflation reduces the value of currency over time, but deflation increases it. This allows one to buy more goods and services than before with the same amount of currency.”
  (please read that last sentence for three times yeah)

Article in TheStar.com.my
Malaysia’s economy is in deflation mode for January 2019 and this is the first time we have this since 2019. The main reason stated is due to fuel price dropping. Consumer price declined 0.7% from a year ago after hovering below 1% in the previous seven months, according to the statistics department. Fuel subsidy is now set weekly and this has led to a 7.8% decline in transport costs in January from a year ago. The central bank has kept interest rates unchanged at 3.25% since raising it in January 2018. From June to November 2009, Malaysia had deflation too. That year, our economy contracted by 1.5%. Kuala Lumpur is the only state or federal territory that saw a CPI increase in January, with inflation at 0.2%.
Article in TheStar.com.my ?

Briefly, inflation needs to be controlled because this spike is due to demand rising too fast. It’s also explained as too much money chasing too few goods. As everyone knows, when demand is far higher than supply, the prices will rise. This is why when the economy is growing and inflation is rising, the central bank also raise interest rates to cool the demand which will then deflate the inflation. Deflation meanwhile will tell us that the demand may not be that robust and thus businesses may have reduced their prices to secure the demand. This is why it’s actually not a happy news for the economy if this is continuous for many more months to come. So, is deflation better than inflation? Let’s just aim at low inflation yeah. Cheers.

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written on 24 Feb 2019

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Degree, Diploma, Masters or None. Qualification matters, yes.

I was in Singapore for a few days on a business trip. There was an interesting topic on television.  Singaporean teachers without a Degree hope that they will be placed on the same salary scale as those with a Degree. The reason being, they are doing similar job. Today, what happens is that they are on different scales UNLESS if those without a Degree are given a leadership role, for example a school Principal. There were just 9 people without degree who are school principals in Singapore today. There was also an organisation who said that they are placing those without degree on the same scale as those with a degree. The reason for this is so that they can keep the good people without a degree as well as the fact that those without a degree can also perform tasks which can be performed by degree holders.

Personally, I do not think this is the correct way. If the non degree holders would like to be on the same scale, they should ask to be given an opportunity to pursue a degree. If the workers can do the same job as those without a degree, then help them to obtain a degree. With their extensive working experience, some exemptions on certain modules can even be given by the institution concerned. The government can also help them by giving them partial grants etc. However, they should be willing to work harder and within just a few years, they would also be a degree holder which meant that the whole profession is now upgraded.

Image Source:
http://blog.npathway.com/wp-content/uploads/2014/02/ScreenHunter_21-Feb.-08-16.34.jpg

Yes, I am aware, some would now tell me that there are so many examples of people without degree who are so successful and there were some Master holders driving taxis and PHD holders sweeping the streets. Do you want to tell me that all these are MAJORITY or are these just minority. Do you want to tell me that the average pay for those without a degree is higher than those with a degree? Sorry, that’s not true at all. More than half of those without degree are doing the manual work which may not have a rosy future. Long time ago, it was hard to get a degree. Today, a degree is already compulsory and for many managerial positions, Masters are now required. I do not foresee it will extend to PHD holders but this is how the companies evaluate whether you qualify or not. Work harder if you want to climb the corporate ladder.

To those who do not agree, it is ok. Since there are some companies which are now offering the same salary scale for those with and without a degree, you may want to join them. For me, I remain a traditionalist for this. I will definitely get ready some money for my baby daughter to get a degree. You may need to incur some debts but today, the opportunity is there for higher education.  If she’s not a top student, then any of the average universities would do. After that, she is free to do whatever she wants. A degree is still a must.

written on 27 Aug 2014

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Degree is no longer needed. Do you feel unsafe or happy?

If I tell you that a degree is no longer needed, do you feel unsafe or happy? Depending on whether you have a degree or you do not have one, currently.

Someone told me that in the future, a degree is definitely not needed. That someone has a degree, does not have a Master degree and was working in the IT world then. So, what are your thoughts about NOT needing a degree in the future? If someone were to tell you that instead of studying for years to get a degree, just study 6 months for a certificate and start to get a job which pays a very good salary? In fact not even a good salary, it’s close to 3 times better than everyone else in that country…

Article in medium.com
 Google has launched new professional certification programs in data analysis, project management, and UX design and these will be hosted on Coursera. The monthly fee is US$49 (RM205) but Google will provide 100,000 needs-based scholarships and over US$10 million grants to certain non-profits that partner with workforce development to women, veterans, and underrepresented Americans.

This was what Google said, ““In our own hiring, we will now treat these new career certificates as the equivalent of a four-year degree for related roles.”  As for those who completed a project management program, Google lists the median annual wage of each career track with a high of $93,000 (RM388,507). Please do read the full article here:
Article in medium.com

Reality, at least for now.

You have a professional certificate and you enter into an organisation full of people with degrees. (which is common since every executive job and above lists a degree as pre-requisite). One day during a company party, you declared to everyone in the room that their degrees are all a waste of time. In future only certificates are necessary and that your certificate is the most important thing of all. Well, I wish you all the best yeah.

My opinion?

By the way, I am one of those who believe that what we study in the university does not represent the business world. However, what has happened during those years of study is also that we get basics and foundations of many skills which are still needed, we built friendships, we are entrenched in people networks, we build leadership skills when we participate in clubs and interests during those years and yes, it built discipline because if you do your assignment well but you fail your tests / exams, you fail your module and vice-versa. This is what a degree is about.

As long as these years of extra could be replaced by a 6-month professional certificate programme, then go ahead and forget the degree and take this professional certificate programme alone and start earning that potential US$93,000 which was claimed earlier.

What will I do?

If my kids could, they will still finish their university. I have no specific wish for engineering or accounting or medicine or law. It’s unnecessary if you ask me. Whatever they have interest in, I would encourage and provide the funds for them to finish that degree. Period. Master degree is up to them. Oh yeah, these professional certificates, yeah, I would also encourage them to take it too. So, I am not saying these professional certifications are not good. It should be an extra and not as a replacement.

Warning

One day, if the whole company is full of these professional certificate holders, then a degree holder better not try to tell everyone that a degree is important. I do not think he will get any support. However, if we look at the prestige of many top universities and how most job advertisements are advertising as well as the qualifications needed for promotions in many companies, the days when degrees are abandoned are still far away.

Information for all.
The median salary for an American is US$33,706 in 2017.
  Do not mix this up with household income yeah. That’s two person, usually. Perhaps we look forward to this single income to be closer to the claimed US$93,000 before we decide?

In the mean time, happy studying. Whether it’s for a degree or for a professional certificate.

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Degree, Maturity and Attitude Matters

A friend who’s a manager in a insurance agency related the differences between teaching an agent with a Diploma, a Degree and a SPM holder today. She said, teaching a SPM holder requires huge efforts. There are so many things they do not understand and needs guidance and they also lack the thinking capability. A Degree holder and a Diploma holder is much better than a SPM holder. I wanted to say that perhaps age also played a part but after I remembered a few of my friends who is now the same age as me still acting as if they first graduated, I did not continue. I think anyone who is 17 and above should be matured enough to know that opportunities exist but working hard is the first criteria.

During the actual interview, some of these SPM holders said that there is no need to study till Degree. Even the late Loh Boon Siew also did not have a degree. Let me tell you a fact. During that time, nearly EVERYONE has NO degree. Today, you may say a degree is nothing but if you do not have a degree, then you have nothing. Oh yeah, some would then say some billionaires are also not degree holders. In fact 16% of all Singaporean billionaires are NOT degree holders. What an amazing fact but tell me, are 100% of all the people who is working for him has no degree as well? Why would he not hire only those who’s like him?

Of course, even if you have a degree from Cambridge but your work attitude is BAD, then you are still not going anywhere. To be honest, my degree got me my first job but for my second job, they did not even look at my degree, merely relying on what I wrote in my resume and my working experience in my first company. I improved my presentation skills via Toastmasters. I improved my knowledge about properties through the non-stop following up of property issues in all medias. A degree is just a piece of paper. I don’t think anyone would ever asked me to show them my degree in the future. However, always remember, if you have none, then you are disadvantaged. Why would you want to have a handicap even before you start your ‘marathon’ towards success?

written on 24th Sept 2014

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Déjà vu in property market Malaysia?

This interesting description
Déjà vu is described as such by wikipedia:
 Déjà vu is the feeling that one has lived through the present situation before. The phrase translates literally as “already seen”. Although some interpret déjà vu in a paranormal context, mainstream scientific approaches reject the explanation of déjà vu as “precognition” or “prophecy”. I think many articles have appeared saying that the property price drop in 2020 could just be as bad or worse when compared to 1998.

So, for people as old as me, then you may just remember how bad 1998 was and now they say 2020 property market may be as bad if not worse. By the way, the numbers represent average for the whole of Malaysia yeah.  This is not just Penang property or Kuala Lumpur property but all states in Malaysia in total. Of course, the largest would have to be Selangor.

Source:
https://www.ceicdata.com/en/indicator/malaysia/real-residential-property-price-index-growth

By the way, 1998 was indeed a bad year for the property market. The image above would show very clearly too. In 1998, the property price fell by double digits! If someone somehow still could buy a property in 1997 and managed to get a home loan, then the person would suddenly have a huge paper loss in 1998. If he sold it, then it would have been a huge loss. A RM300,000 property would have lost probably RM45,000 in price?

Now, before everyone now deciding to jump into the stock market instead, we also need to look at the property market from 1990 all the way to 2018 to make a good decision yeah. The price DECREASE in 1998 was also cushioned by the price INCREASE by an equal number in 2016. In other words, if one were to buy in 2015 and hold the property until the end of 2000, (5 years not very long in property investment yeah) then one has not lost much money.

Property price started increasing again in 1999 and by year 2000, the loss would have been minimal if any. What has happened since then? Well, we can see that on an overall basis, property prices have certainly continued its climb and there were the double digit rises in 2013 and 2014. That’s definitely a sense of deja-vu as well because what has happened may happen again in the future. So, it’s not just the fall which we should know but we should also look at the rise as well. Stay focused on a long term investment. Stop thinking too much about deja-vu too much.

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Demand for homes remains very high. Just maybe not the overhang units.

When everyone already owns a home, then demand for home stops. Well, at the moment, there are still many without a home and if we look at the number of people entering the workforce, then we should realise there’s even more without a home. Most of these people are moving to the bigger cities for the very first time.

For some of these new working professionals, they are lucky as their parents would be helping in their journey to own a home. Demand for homes remain very high and the proof would be the applications for the People’s Housing Projects (PPR) coming from the B40.

Article in themalaysianreserve.com
  The Kuala Lumpur City Hall (DBKL) has received 38,145 applications for the People’s Housing Projects (PPR) and Public Housing (PA) up until last January. Kuala Lumpur Mayor Datuk Seri Mahadi Che Ngah said, “Of the total, 14,412 applications have been offered for the housing units until March.”

He said, “We are completing the development project in Sungai Udang, Segambut, involving the construction of 1,251 units, which is expected to be completed next September. We will also build about 760 units in Jalan Semilang, Cheras, as well as await approval for the project in Taman Desa.” Do read the article in full here:
Article in themalaysianreserve.com

Overhang and demand for homes are different

Anyone equating overhang units with less demand for homes or a collapse in demand for homes can continue to think like that though it’s wrong. Just remember to back up your thoughts with the right action. Arguing as such is exactly the same as a new smartphone model which looks extremely ugly and everyone refuses to buy them and suddenly everyone thought the demand for smartphones have collapsed. Erm…

PPR units is also not the same as demand for residential properties

We do have Malaysians who really do need assistance to have a home, even if does not belong to them. Once we look around the working population getting married, both are professionals, then the demand for property will continue to happen. Once we include the families which are growing and in need of a bigger home, then the demand for property will continue. Once we look at the older folks who need a smaller home since their kids are no longer staying with them, then there’s also demand for new homes. Happy understanding that these are separate issues.

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Demand for property? Status is definitely a reason.

Status will always be a great mover for demand

With more funds, one would start to think about status. Property is one very good example. The neighbourhood which one stays should reflect one’s current status. The type of property is another one. Even if one may not have been using the swimming pool often, it may be better to buy a bungalow and perhaps have a small pool just in case on some days one is thinking of a dip in the pool.

What one likes versus what one could afford

Just need to remember, buying a property at this level is not about usability / utility only. It’s really just based on what one likes. That same chair which can seat one person? That can be RM50 or it could be RM500 or it could even be some designer themed ones costing 4 figures. Period. This is happening all over the world today. One latest news is about the
Good Class Bungalows (GCB) in Singapore. An earlier article here.
The demand has been increasing and the price has also been on an uptrend too. The buyers? Read on.

Article in edgeprop.my
   According to Bloomberg, Singapore’s good class bungalows (GCBs) are seeing a surge in demand. The demand for the properties used to be from conventional business backgrounds such a traders, top lawyers and doctors. Now, they come from non-conventional backgrounds such as start-ups and cryptocurrency and ages ranging between late 30s to 40s.

According to data from Knight Frank, the number of sold units for GCBs has tripled since 2019, to 60. The price for this property segment is expected to increase further as demand increases with Singapore’s new rich population on the rise. In a wealth report published by Knight Frank in 2021, there will be an additional 4,888 people who will have at least US$30 million in assets between 2020 and 2025. There are a lot more details in the article:
Article in edgeprop.my

It’s not just bungalows lah

Holding that iPhone would make one feel superior versus the rest using cheaper Android phones. Nope, I am not an iPhone user. Haha. If you read my articles, I am an OPPO supporter and yes, there are many reasons too. Yeah, if you like, feel free to include the reason that I could not afford one. 😛

Driving that Japanese branded segment B car also makes one feel superior to driving a local branded car even if the local branded car is quieter, more comfortable and can take corners better. 😛  My Persona reached the 12 years milestone recently. Have not been paying any installment for it for the past 7 years.

Wearing that T-shirt with a major logo printed on the front has very little to do with the design lah. Imagine another T-shirt with a logo printed in front but the logo is not known at all, do people still want to buy it?  This is the world we live in today. We just need to accept or we really do rise above everyone else and then start to have the ‘I like this’ thinking too when we have the funds to back it up.

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Demand for property? It happens, even if price is not under affordable category. This is a project by Selangor Dredging Bhd (SDB) which is a Malaysian developer. The project is Jui Residences in Singapore. Of course this is not in Malaysia.

However, even in Singapore, starting initial price of S$1,600 to S$2,000 per sq ft is hardly considered affordable for majority of Singaporeans yeah. Example? 450 sq ft at S$2,000 per sq ft = S$900,000 yeah. I am very sure majority Singaporeans would be buying a HDB flat instead since majority of Singaporeans are staying in a HDB flat.

Article in nst.com.my
   Property developer Selangor Dredging Bhd (SDB) Jui Residences project in Singapore has been well received with all 117 units sold to date since its soft launch back in September 2018.  The 117 contemporarily crafted units are located within an 18-storey tower surrounded by convenient amenities and an integrated transport network which includes the Potong Pasir and Boon Keng MRT stations.

A freehold development, the strong interest stemmed from Jui Residences being initially sold at around SG$1,600 to approximately SG$2,000 per square foot.  Jui Residences is located within the Urban Redevelopment Authority’s (URA) earmarked growth districts of Bidadari and Kampong Bahru areas. By 2030, another 100,000 residential homes are set to be built in that area, transforming the Kallang River into a lifestyle hub, with waterways, greenery and seamless park connectors. Please do read the full article here:
Article in nst.com.my

Hopefully we can visit some show galleries soon

In Malaysia, we could not view new property show galleries at the moment. Stop talking about virtual tours yeah. A virtual tour is great to supplement the viewing after I have viewed and actually asked many questions to the sales people while being seated or even enjoying a latte. I am not going to relay on virtual 360 video and deciding to buy a RM920,000 property.

No need to keep having the rhetoric that developers no longer need sales galleries. If any of the developer thinks so, just be assured that I am not going to be one of your buyers yeah. In Singapore, they are slowly returning to normalcy and perhaps that’s why the property market is also getting hotter too. Good sign for us once our vaccinations reach their stage of close to 80%. Happy staying home mostly, for now.

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Press Release: iProperty.com.my: National Demand for Subsale Homes in 2020 Improves to -1.3% from -2.5% in H1 2020

The analysis highlights the demand for subsale homes for the year 2020 using iProperty.com.my’s user visits and property listings data for residential subsale properties in Malaysia with a particular focus in KL, Selangor, Penang and Johor

Despite the decline in demand, terrace homes, condos and serviced residences experienced positive capital growth values at +2.6%, +1.4% and +2.4% respectively

Among the major cities in Malaysia, only Shah Alam and Seremban recorded a positive demand at +1.66% and 0.92% respectively

User visits recovered by +85% since its lowest point in April 2020 due to pent-up consumer demand pushing more buying interest. The increase in property demand is aligned to the increase in value of loan applications in Malaysia.

The iProperty.com.my 2020 Portal Demand Analytics will include demand information for apartment, for the first time

KUALA LUMPUR, 26 JANUARY 2021
— iProperty.com.my today unveiled the 2020 Property Demand Analytics, an overview of subsale property demand using iProperty.com.my’s user visits and property listings data for subsale residential properties in Malaysia with a particular focus in KL, Selangor, Penang and Johor. The analytics was presented by Premendran Pathmanathan, General Manager of Customer Data Solutions at REA Group Asia, during an online video conference. The analytics looks at four property types: terrace house, condominiums, service residences and apartments for the very first time.

The national demand for subsale property in 2020 fell by -1.3% Year-on-Year (YoY). The demand for high-rise properties is down in line with prices while the demand for terrace houses remained positive at a capital growth of +2.6%. Among the major capital cities in Malaysia, only Shah Alam and Seremban recorded a positive demand, of +1.7% and +0.9%, respectively. KL City Centre (KLCC)‘s demand contracted by -8.9% with -11% capital growth decline whereas Georgetown’s demand contracted by -11.9% with -8.7% capital growth decline. As a result property prices dropped in both cities.

Even though the Movement Control Order (MCO) has dampened the country’s overall economic growth, property demand in the second half of 2020 began to recover as restrictions were relaxed. User visits to iProperty.com.my was at its lowest point in April 2020 after the MCO was imposed. However, it has since recovered as pent-up consumer demand pushes buying interest past new heights. As of December 2020,  unique visits for subsale property listings saw an upward recovery of +85%, since MCO was first announced. Similar trends have also been observed for home loans applied – the increase in  user visits to iProperty.com.my aligns with the increase in value of home loans applied by Malaysian consumers (as provided by Bank Negara’s Monthly Highlights and Statistics in November 2020).

Kuala Lumpur continues to record negative demand as population migration increases and now, as the work-from-home trend becomes the new norm, many people are moving to affordable housing in the suburbs of Selangor, leaving the property market in KL muted. The property demand for Kuala Lumpur dropped by -1.3% with apartment and flat user visits declined as well, as one of the groups hardest hit during the COVID-19 pandemic is the B40. Batu Caves tops the chart for the most in-demand area in Kuala Lumpur where its visitors for the flat segment increased more than double. Setiawangsa is another notable area on the list as many visitors were looking into properties with affordable price tags ranging between RM200,000 to RM300,000. Selangor, in particular its suburban areas, have benefited from the population outflow brought on by the COVID-19 pandemic. These residential suburbs offer larger properties with better value for money and have seen some of the fastest-growth in demand. Suburban districts like Puncak Alam, Dengkil, Semenyih to name a few, top the list for the most in-demand areas in Selangor. Despite the limited number of listings

in these areas, there is a strong following for these listings. Puncak Alam property seekers were looking for a family-sized terrace home between 1,250 sq ft to 2,000 sq ft in size and carrying RM300k to RM400k price tags.

 Serendah recorded the biggest growth demand in Selangor in 2020. Interest was mainly contributed by apartments and flats priced below RM100,000 and with built-up sizes below 750 square feet (sqft). Similar to H1 2020, Selangor continues to be the only major state to record a positive demand of +3.2% while capital growth dropped marginally by -0.2%. Apartment prices have declined by -3.2% in line with the declining overall user visits and listing supply for flats as consumers, primarily the lower-income groups, are turning their attention to daily necessities instead.

Penang’s overall subsale property demand has contracted by -9.5% with the demand for service residences plunging by -20.4% in 2020. This contrasted sharply with the previous year as it recorded tremendous growth in 2019. The upcoming Penang Transport Master Plan (PTMP) could serve as a catalyst for the Penang property market. This project is set to boost transportation on the island and, by extension, the appeal of fringe neighbourhoods. Moreover, the PTMP is expected to create jobs that will have trickle-down effects on the economy.

Kepala Batas is the most in demand area in Penang with the number of visits doubling in 2020, bolstered by a number of large-scale mixed development projects in the pipeline. Balik Pulau saw a significant increase in the number of visits too. Its apartments and flats segments doubled their visits figures in 2020.

Johor recorded a double-digit decline across all property categories. However, terrace houses recorded capital gains as most of the home buyers in Johor still prefer landed homes. The outlook on Johor’s property market looks promising after the construction of the Johor Bahru–Singapore Rapid Transit System (RTS) has recently begun. Once completed, the project will bolster property prices in Johor Bahru as higher-income Malaysians working in Singapore have the option to stay in the southern state.

Muar and Batu Pahat are the top two most in demand areas with several residential projects in the pipeline. There was an uptrend in property prices in these areas in 2020 and the median prices are on par with areas within the Iskandar Malaysia region. Iskandar Puteri is the most in demand area in Johor with a +118.6% growth in demand. This can be due to its listing supply being reduced by more than half.  Meanwhile, Kluang has recorded the second-highest growth in property demand for properties between RM100,000 to RM150,000 and RM300,000 to RM400,000.

Commenting on the release of iProperty.com.my 2020 Portal Demand Analytics, Premendran said, “We had expected to see a decline in property demand in 2020. The COVID-19 pandemic has shifted the way everyone lives and works and 2021 will be a challenging year as the property market is dependent on the economy of the country. Nevertheless, we believe that the property market will recover after the much anticipated roll out of the COVID-19 vaccine. It is also promising to note that the government has extended stamp duty exemptions to the secondary market under Budget 2021, further providing opportunities for property seekers to explore subsale residential properties. On top of that, the progressive reduction of the Overnight Policy Rate (OPR) and the reduction in Employee Provident Fund (EPF) contribution will help to ease home loan repayments which has sparked some interest in property purchase especially among middle and upper-income households.”

He continues, “In terms of demand data, it will provide insights into how people are looking at properties in times such as this. iProperty.com.my’s Portal Demand Analytics will help industry players understand where the market interest is shifting when it comes to supply and demand. Demand-driven data provides a clear insight into consumer sentiment of the property market. Government officials could benefit from the data when building affordable housing and in allocating targeted subsidies. Other relevant stakeholders (property agents, housing associations and the media) would be able to analyse the insights to understand the local market preferences better, which are reflective of the market demand.  We hope the data presented will benefit everyone from homebuyers to industry players.”

You can download a copy of the iProperty.com.my 2020 Portal Demand Analytics at
www.iproperty.com.my/newsroom

— End of Press Release —

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Demand highest at the lower end of RM500,000

Working in Kuala Lumpur and need to buy a property? Well, anyone who believes affordable homes should be around RM500,000 may have to wait longer. Reported in a local media, Bank Negara Deputy Governor, Sukhdave Singh recently said that there is a mismatch in the supply of homes. There are a lot more entering the market at higher price range despite demand being highest at the lower end of RM500,000. He was speaking at a panel discussion on the Malaysian economy organised by the Malaysia Economic Association. This meant that the prices of homes in urban areas such as Klang Valley continue to be beyond levels deemed affordable. Oh yeah, still waiting for salaries to clim faster before buying? Well, read here:
Why our salary seldom rise as fast as property price?

I think as the BNM Deputy Governor,  Sukhdave has more statistics available to him but I also think the statistics are centred too much on average numbers. The latest number that I know shows that the average prices within KL to be rather  unaffordable. Read here:
KL Average property price down, now at RM714,000
 However, do bear in mind that this is the average and not the median number. A closer look at some major property portals would reveal many more options available below the stated RM500,000 but it would have to be in the secondary market or the SOHOs which I do not prefer to pay so high for. Take a look at the image.

Of course, he also mentioned something I wrote recently. A lot more MRT stations would mean many mourned areas worth considering. Read here:
31 new MRT stations; look out for more choices
 He said, “We hope that with the MRT and other improvements in the transportation sector, people will be able to live further from where they work and yet be able to get low cost transportation to get to their workplace efficiently and on time. If they can live farther from where they work then they will have cheaper housing, outside the key city centres.” This may also have to depend if more would be willing to stay at less popular spots. As development and population continue to grow, buying into these cheaper areas would also be profitable in the long run.

Last but not least, demand is never stagnant at any price level. Imagine if there are now thousands of new units of affordable apartments flooding the market at prices closer to RM400,000 what would happen? Yes, the demand would now shift to these lower priced units, as long as they are big enough for a small family and cheap enough for the majority. Of course, when these happens, the average property price should also move downwards. Perhaps then we can see KL’s property prices becoming slightly more affordable in statistics. On the ground however, it’s still available. Buy or no buy is a question the buyer would have to decide. Cheers.

written on 31 Mar 2016

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Demand is selective or on the way up

Another crazy scene as reported. Take a look at the PTLM Facebook page image.  According to the report, within the 2 hours of launch in the developer’s office, almost 82% were sold. This is the official launch of REV.O Suites @ Bukit Jalil City which is located next to Pavilion Bukit Jalil (nicknamed “Pavilion 2”)
 A deeper look revealed that the units are also the smaller ones. It’s between 318 sq ft to a maximum of 597 sq ft. According to the developer, these units are located within a prestigious. It’s aimed at new start-ups and entrepreneurs with providing the conveniences of a banking and lifestyle needs. Gross prices start from RM323,185. Thus, price per sq ft wise, it is not considered cheap but then again on an overall basis, price is considered within the affordable range. Recently, there was a similar case of ‘queuing early and buying frenzy.’ Read here:
Queue started at 5am and 800 bookings within 5 hours?

The buyers are definitely not buying for their family and most probably are using it as an office or to rent it out to the targeted market. The question would be, are there so much demand for these rental units? The answer depends on the economic growth and the urbanisation which is happening in Malaysia. Graduates whose hometown are smaller towns or villages are all striving for a better career in cities. These new entrants into the job market must have a roof over their head and it’s not easy to buy a place as soon as one has started working. Thus first few years are most rental years. Smaller units which offer lifestyle would be a better choice compared to a bigger unit which may need more upkeep. This maybe that demand that these buyers have in their mind.

Of course another huge group would be those who have worked for a few years and is entering the market for their first home. Yes, they could have bought properties which are further and bigger but it’s tough if all their friends are not staying in the same area. In fact many of these younger individuals are not used to shopping or wandering in any little known malls. Their lifestyle mall has be trendy, easy and popular and somewhere their friends would prefer to be. Haha. Truth is, it’s a trend and it’s hard to tell them otherwise. Therefore for some who would like to take advantage of this trend, it’s buy, buy, buy today to rent, rent, rent tomorrow.

My personal preference? I belong to the older group, thus it’s size and price with duration thrown in for convenience instead of distance or current popularity. It’s just my choice which meant the market is always vibrant because everyone have their own way of investing. The final aim may be similar, to have good returns on investments and hopefully a smoother time when we are old. I do not think the market has turned around from the current downturn. However, selective demand remain strong, especially for the seemingly easier entry ones. Happy investing!

written on 31 Oct 2015

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It’s not the price. It’s the motivation.

People continue to tell me that property prices are coming down.  I pointed out to them that property prices as in the listing in property sites or property prices as in actual transaction? Many look at me blankly…

Many times, we fail to distinguish between perception (when everyone is viralling some news) and the reality (actual transaction, actual price, actual volume).  This was last year, 2019. In case you did not know, 2019 was a year when the transactions were higher than 2018. If you did not reach, actually 2018 was higher than 2017.

This is OVERALL market.

This is for RESIDENTIAL market

Look at the actual numbers over the years and we would realise that when we heard about property prices CONTINUING to increase in 2012 (as if the sky is the limit), it was already nearing the peak. RM800,000 for a condo of 1,000 sq ft? Please look at the household income of Malaysians and please understand that demand vs supply means nothing if the demand does NOT come with ability to buy.  In many surveys during the hotter times, it’s always showing people wanting to buy, people say they will buy in 6 months etc.  Move back a couple of steps and you realise that the upcoming new launch may NOT be the one they could buy. Mismatch in the supply versus the demand even if the demand remain very high!

As for actual price movement, here’s one latest chart from
 BNM’s housingwatch.my
 It is NOT in the negative territory. Of course I have no idea when the price would be going to the negative territory. Anyone knows please tell me.

Source: housingwatch.my

It’s never the price. It’s the motivation.  If I am from Ipoh and I have to move to Kuala Lumpur to work and I need a place to stay in a very short period of time, I would quickly drive up during a weekend to view many places. I would make a decision soonest possible because I cannot keep driving back the next weekend and the next weekend until I start work! So, my motivation to rent a place out of the few places I viewed is high!  The chance that I will choose not to negotiate until the cow comes home is also very high too…

If I am the owner of a condo nearby KLCC and I am a foreigner and I wanted to leave Malaysia as my work here is completed, my motivation to sell is higher than every other seller who is still staying here and can take their sweet time to sell. This is why we could occasionally catch a good buy if we are on the ground looking for it all the time. The seller in this case would want to conclude the deal faster and does not want the hassle to fly back and forth to settle it.

This is why we need to stop thinking too much about whatever viral news we receive all the time.  Else, our perception will cloud our judgement. That’s not good as we will miss many opportunities. Just remember that the best time is also the worst time.  The opportunity is also the threat as well. Haha. That’s how the world works. Happy investing.

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Demand vs Supply is never perfect yeah. (It’s about demand and money)

I wrote this article many years ago. It’s about grabbing the opportunity when it presents itself. Here’s that article:
Perfect Property with the Lowest Price.
  It is still true today and the foreseeable future too. Demand and Supply is always a very powerful equation. Marketing students study them and uses it to determine the highest price that people would be willing to pay for the product. Economics students study how to use it when determining macro and micro economic policies. This is why it is possible to change the dynamics of the demand vs supply! Thus, hoping for the market to correct itself is really not possible. Especially these days when we even have artificial intelligence systems to help us. Remember the cooling measures instituted by our Bank Negara Malaysia (BNM) beginning 2013 /2014? It helped to stabilise the home prices generally but the prices in many hotspots continue to rise.

Ever wondered why a hotspot is so expensive? Briefly, it meant that there are far more buyers that want that area than there are the supply of homes within the same area. It’s not just because it’s near the MRT (there are lots of areas near MRT which is not expensive yet), it’s not because of international school (there are far more areas nearby international schools which are still cheap) and it’s definitely not because it’s near to a major shopping centre. Well, it’s a combination of these factors but mostly, it is because people who could afford them continue to agree to pay ever higher prices for them! There is nothing which the government could do when it comes to this kind of demand vs supply. Not even if the government were to build another 10 million new affordable homes in Malaysia yeah. However, what the new supply could do is to enable more people to own homes without the need to overstretch themselves for the expensive homes. This is a good intention.

You see, if you are the owner of a unit within a hotspot and are staying there and you bought your place at RM1 million and there’s now another 1 thousand more RM300,000 homes being built a few km away from your home, will you be pressured at all to sell your RM1 million unit at RM900,000 or lower? The answer is usually a no. The reason is because in a mature neighbourhood, the available supply up for sale is usually very low versus the potential demand from people who admires the place and wants to move in. In short, it’s about
demand and money,
 not so much about just more supply. Of course, one can also say that what happens when the demand changes? Perhaps there’s a new hotspot right next to the current hotspot offering even more attractive features? Haha. That’s another story. By the way, there’s really no guarantee that a hotspot today will continue to be a hotspot in the future. It’s far more important to understand the reasons to buy instead of looking at just the price to determine if it’s an awesome area yeah. Happy investing.

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written on 3 Aug 2018

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