MAY 2018 ISSUE 158 RM8.50/S$8
05 WELCOME 872006 to our new home! 9 771823
CEO’S FOREWORD
Editor We moved into our brand new Roshan Kaur Sandhu state-of-the-art office about Senior Writers Reena Kaur Bhatt a month ago. This move isn’t Mira Soyza just about moving from one workspace to a bigger, better Editorial Coordinator Nur Alia Ahamd Tamezi one. The move enables us to embrace the new world of Senior Graphic Designers work and provide a platform Wing Wong Jason Kwong for us to innovate and bring Junior Graphic Designer the latest technologies to Rechean Soong market with clients.
CEO REA Group Asia Henry Ruiz We have also changed our CEO - Singapore & Malaysia identity – iProperty Group REA Group Asia which is now REA Group Haresh Khoobchandani General Manager (Marketing) Asia and will adopt the Wong Siew Lai Group’s visual identity as our General Manager (Agent Sales) corporate brand identity to Leon Kong reflect us being part of an General Manager (Developer Sales) Sean Liew expanded global network. General Manager (Data Services) Premendran Pathmanathan While REA Group Asia will be our corporate brand, we will continue Group Regional Finance Director - REA Asia to leverage on iProperty.com.my as our consumer brand to drive the Saviour Calleja business in Malaysia.
Production Manager Clement Chiang iProperty.com.my is the leading property portal in Malaysia. We continue to see an average of 8 million desktop and mobile web Head of Marketing & Content, visits over the past 6 months from September 2017 to February iProperty.com Singapore Leslie Lin 2018. In March 2018, iproperty.com.my recorded its highest ever level of visits on web and app.
Change is evolutionary and will continue to take place as we iProperty.com Malaysia Sdn Bhd (600850-K) Suite 11.01, Level 11 Menara IGB innovate and bring the latest technologies to market with clients. Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia Phone: (603) 2264 6888 These are certainly exciting times for all of us at REA Group Asia Fax: (603) 2264 6900 Sales enquiries: [email protected] and iProperty.com.my. Together, let us change the way Malaysia Editorial matters: [email protected] experiences property. General enquiries: [email protected] Subscription: [email protected] International Property: [email protected] iProperty.com Malaysia Sdn Bhd (Johor) Sincerely, A-2-7, Pusat Komercial Bayu Tasek Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor Phone: (607) 300 0013 iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D -25-3, Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Phone: (604) 645 9899 Fax: (604) 611 1599
Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies HARESH KHOOBCHANDANI and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from CEO, Singapore & Malaysia or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are REA Group Asia their personal opinions and do not necessarily reflect iProperty.com’s views. Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher.
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Contents
2 CEO’S FOREWORD iPROPERTYiQ.COM 28 Kuala Lumpur’s 5 best-selling residential projects 8 HAPPENINGS
INDUSTRY INSIGHTS EVENTS 32 Like it or not, PropTech is the 10 Terreal Malaysia presents a night future of real estate of glam and style A’la “Shanghai Night” 36 How big data will change the face of real estate 12 iProperty.com.my welcomed friends and partners to our new 38 4 reasons you should start saving home to buy a property in 2018
14 Its official!e’ve W moved into our 40 Court of Appeal: Home buyers new home rights to be heard in an EOT situation
POINTS OF INTEREST 20 What is the difference between CELEBRITY PROFILE a property agent and real estate 45 Colon cancer survivor, Choo Mei negotiator? Sze: They wouldn’t disperse the loan, I felt so discriminated
CONSUMER HACKS 22 5 home makeover apps to help POINTS OF INTEREST redesign your space 48 5 unpopular towns in Klang Valley that are ideal for expats 25 5 creative ways to keep Malaysian homes cool without air con 52 Why logistics should be the next big thing in the industrial market
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Contents
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54 Landed house or high rise? It depends – I recently ‘upgraded’ RESEARCH DATA to Bangsar & I’m saving money! 73 Knight Frank – Malaysia commercial real estate investment 57 How to utilize EPF withdrawal sentiment survey 2018 money to purchase a house?
INTERNATIONAL SECTION CONSUMER HACKS 80 SINGAPORE NEWS 60 5 low maintenance indoor plants for the busy beavers 84 INTERNATIONAL BRIEFS Becoming a landlord could be the 92 62 8 ways to get more Airbnb best decision you would ever make bookings and maximize your booking 86 SINGAPORE FEATURE 10 Unique HDB buildings in 66 6 must-have herbs to grow in Singapore your kitchen garden
69 7 unique local furniture stores you need to know about CONSUMER HACKS 92 Interior ideas to get more Zen in your life
94 Interior designer myths that almost had you fooled 93
HAPPENINGS
Sebana Cove offers lifestyle living at your very doorstep
Redefining urban design and Petroleum Complex (PIPC), which is focusing on usability was IJM’s a purpose-built economic region in core guiding principles in designing eastern Johor spearheaded by the Sebana Cove. Greenery and space Malaysian government. is prioritized for urbanites who It is a stone throw’s away from enjoy a sophisticated metropolitan tourism hotspots such as Desaru feel, complete with the perks of a Coast, allowing Sebana Cove to reap natural, green environment. It is the benefits of a large and affluent creatively conceptualized to house catchment market, translating to Actual photo taken in Sebana Cove 10 precincts, each with its own a great potential for growth and individual themes, emphasizing investment. Sebana Cove is developed the best of its geographical Meanwhile, the Fairway Golf Villas by industry giant, IJM Land, the characteristics. comprise double-storey bungalow property arm of IJM Corporation The Botany precinct is located villas, perched right next to the Berhad. Surrounded by pristine adjacent to an 8-acre nature rolling greens of the golf course. natural greenery, Sebana Cove preserved concept park of Sebana These completed homes features is a 1,200 acre township, where Cove. Suria @ The Botany is the first a wide balcony that opens to residential and commercial phase of terrace homes in Sebana panoramic golf view, offering you components are cohesively planned Cove, a booming address located and your family a relaxing lifestyle. alongside an exclusive private marina near the Pengerang Integrated and golf course.
Southville City Interchange is now open The Southville City Interchange and government officials. into and from the KL-Seremban Mah Sing’s Group Managing Expressway (which forms part of the Director Tan Sri Dato’ Sri Leong North-South Expressway) is now open Hoy Kum said “Southville City’s for public use from 10 am, 11 April interchange will not only serve 2018. Southville City’s interchange is the residents of Southville City located at Exit 212A Southville City but also the 1.15 million people in along the KL-Seremban Expressway. Bangi, Kajang, Cyberjaya, Putrajaya, With the new interchange now open, Semenyih, Dengkil and Nilai. The Southville City will only be 19km to interchange will cut the distance Kuala Lumpur. of Southville City to Kuala Lumpur and 6 egress tolls) equipped with 6 The opening of the interchange to only 19km. In addition, the Touch & Go lanes, 4 Smart Tag lanes was officiated by Director General of interchange will provide a new access and 4 multiclass lanes. The 6 Touch & Malaysia Highway Authority Datuk Ir. for traffic coming from Dengkil and Go lanes come with Radio-frequency Hj. Ismail bin Md. Salleh, accompanied Putrajaya into the KL-Seremban identification (RFID) systems and by Mah Sing’s Group Managing Expressway, which will alleviate traffic all 14 tolls are RFID ready for future Director Tan Sri Dato’ Sri Leong Hoy congestion at the Bangi interchange utilization. Southville City’s toll Kum, Mah Sing’s Chief Executive exit (Exit 212).” operates on a closed toll system and Officer Datuk Ho Hon Sang as well as The Southville City interchange can only be accessed via the KL- Mah Sing’s senior management team will have a 14-lane toll (8 ingress tolls Seremban Expressway.
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Terreal Malaysia presents a night of glam and style A’la “Shanghai Night”
More than a hundred guests experienced a night of ‘Shanghai’ glitter at the Marriott Putrajaya to commemorate a great year in 2017 and to reward top performers.
Terreal Malaysia Sdn Bhd presented The key highlights of the gala dinner a sensational gala night themed included a presentation on Terreal’s “Terreal Shanghai Night” on 9 March New Special offers and an awards 2018 to appreciate the company’s ceremony for top performers. The stockists and distributors. Held at the guests were entertained with thematic Marriott Hotel in Putrajaya, the annual music and special performances that event welcomed 120 guests dressed in echoed the Shanghai night theme. colourful costumes, exotic head-gear During the event, Terreal mentioned and eye-catching representation of the that the market is tough in 2017, night’s theme. The theme was chosen however, we still stand strong in to match the venue for the night which the market and we are constantly oozed an oriental touch complemented innovating to deliver new products to by elegant Chinese-inspired decorative suit the ever-growing market. elements. 2
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1 Family members of Terreal Malaysia. 2 Terreal Shanghai Nite 2018. 3 Terreal Mini Mockup Roof with Romane Evo Natural Tone. 4 Terreal Zen Tiles Series. 3 5 Attendees during Terreal Shanghai Nite 2018. 6 A-frame racks with Terreal’s Impressionist tiles.
We are not only selling roof tiles, but we also provide a comprehensive envelope roofing system starting from roof tiles to water heater systems as well as reflective insulations and wall claddings. We have a vigilant team of customer service personnel who are ever-ready to provide technical support to our customers.” During the night, top performers among stockists and distributors were awarded trophies for Gold, Silver Bronze, Platinum and Titanium awards. Eight lucky draw prizes were presented while the Best Costume Awards for male and female were bagged by two of Terreal’s 4 distinguished customers who came in sensational costumes. The guests were also treated to presentations on special offers delivered by Terreal’s product teams. The night ended on a high note with guests taking home attractive prizes, trophies and a host of pleasant memories as well as new contacts and 5 business relationships.
10 11 iProperty.com.my welcomed friends and partners to our new home
Stronger bonds were forged and 1 some new ones were kindled.
The smell of freshly painted walls agile working concept we’ve adopted was still wafting in the air when we in order to promote a more balanced opened our doors to our partners and working environment, teamwork and friends just a week after the grand productivity. opening of our new state-of-the-art During the event, Haresh office in The Gardens South Tower. The Khoobchandani, CEO of Singapore & event that took place on 5 April 2018 Malaysia, REA Group – Asia, welcomed saw the attendance of 50 property our guests to the new home, and developers and 23 property agencies shared the company’s vision moving who have been our ardent allies forward as part of REA Group-Asia as throughout the years. well as our plans in building stronger They were also taken on a tour ties with our partners as well as 2 around the new office space where customers. they learnt about the concept behind Premendran Pathmanathan, General the design of the new workspace, our Manager Customer Data Solutions- latest innovation as well as the new and Asia, then shared with the guests the
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1 Haresh greeting the guests. 2 A guest taking a shot at keychain guessing game. 3 Haresh giving a speech. 4 The guests taken on an office tour. 5 Guests catching up with each other. 6 A guest trying his hands at the VR device guided by Reza Khoshdelniat, Senior Manager, Customer Experience REA Group Asia. 7 A game of foosball before leaving our new office. 8 How many key chains are in the jar?. 9 Sean Liew, GM of Developer Sales presents the prize to Holly, winner of the guessing game. Congratulations Holly! 6 7
Sdn Bhd, Hua Yang Berhad, IGB Corporation Berhad, IOI Properties Group Berhad, LBS Bina Group Berhad, Mah Sing Group Berhad, Matrix Concepts Holdings Berhad, Malaysian Resources Corporation Berhad (MRCB), Naza TTDI Sdn Bhd, OSK Property Holdings Berhad (OSKP), Paramount Property Development Sdn Bhd, REI Group of Companies, Sime Darby Property Berhad, S P Setia 8 9 Berhad, Sunway Integrated Properties Sdn Bhd, Tropicana Corporation Berhad, UEM Sunrise Berhad and UMLand Berhad. importance of big data and how it will Other long-time partners who change the way the world experiences came to support were property property. During his presentation, he agencies such as: CBD Properties, illustrated the supply and demand in Chester Properties, Full Homes Realty, selected areas and how this can be a Hartamas Real Estate, IQI Realty, predictor of investment opportunities. Metroworld Realty, PropNex Realty, Among the property developers Rina Properties, Tech Real Estate, present were: Agile Real Estate The Roof Realty and Vivahomes Development (M) Sdn Bhd, Astaka Realty. Other partners who were Padu Sdn Bhd, BCB Berhad, present included: Astro, Ho Chin Soon Bon Estates Sdn Bhd, Cicet Asia Research, Kansai Paint, Malaysian Development Sdn Bhd, Eastern & Institute of Estate Agents, Robert Oriental Berhad, Hap Seng Land Walters and Yeoh Mazlina & Partners.
12 13 It’s official! We’ve moved into our new home
Welcome to iProperty.com.my’s brand-new, state-of-the-art office!
- REENA KAUR BHATT
6th March 2018 was a day of epic Our office in Kuala Lumpur, which agile work environment. Agile working proportions as it marks a new is the Group’s largest office outside of is a leading-edge way of working that 2beginning for iProperty.com.my. its global headquarters in Melbourne, brings people, processes, connectivity Our office move also involves a shift Australia accommodates up to 250 and technology together. REA Group in identity – The way we look, identify employees and is the third in a series offices are designed to accommodate ourselves and communicate. iProperty of state-of-the-art offices opened activity-based working, with open- Group, which was acquired by REA by REA Group across Asia over the collaboration spaces for team Group in 2016, will now be known as last six months, after Hong Kong and meetings, group learning, focused REA Group Asia, reflecting being part Indonesia. work as well as having the opportunity of the global property portal group The 16,000 square feet workspace in to socialize in a relaxed setting. that spans across 11 countries. Kuala Lumpur encourages an open and
14 15 COVER STORY
“The transition into a new, state-of-the-art office isn’t just about moving from one workspace to a bigger, better one. A modern getup enables staff to embrace the new world of work and provide a platform for us to co-innovate with our clients.” – Haresh Khoobchandani, CEO, Singapore & Malaysia, REA Group Asia –
Agile-based working is not hot- currency of REA Group and this desking, it is based on allocating an physical space supports that. area to each team or function, which supports the collaborative way that Collaboration, creativity & teamwork we want to work and move away are at the heart of our business from silos. Knowledge, collaboration, Let’s take a look at some of the images 1 connection and creativity are the captured from our new office launch:
The launch was officiated with a ribbon cutting ceremony by the management team, followed by a lion dance around the office.
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1 Staff walking into their new home for the first time. Check out those smiling faces – There’s no Monday 5 Blues at iProperty.com.my! 2 Pictured top left – Henry Ruiz, CEO, REA Group Asia (second from left) & Haresh (third from left). 3 Another big part of REA Group’s concept is localizing the Kuala Lumpur office with local Malaysian culture – This includes naming their meeting and conference rooms with states of Malaysia. Pictured here is the Perak room, showcasing Ipoh’s famous white coffee and toast bread. 4 The office also features an interactive screen with VR (virtual reality) input in the Cyberjaya Room, which showcases the latest in prop-related technology. 5 Employees get to decorate their personal lockers with a memorable picture of their choosing – we had pics of families, pets and of course, being proud Malaysians, glorious local fare! 6 The main communal area, which is inspired by Borneo’s tropical rainforests is scattered with colourful plush chairs and ottoman casters for open-space meetings and quick breakouts. There’s a table tennis table, a PS4 and 2 massage chairs as well! 6
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7 They say a picture is worth a thousand words – We can definitely say that we are super stoked to have a fabulous workspace. 8 Some fun games were organised to commemorate the move – staff battled it out “Amazing Raze” style, where they had to solve a series of tasks including creating a fun, celebratory Facebook video. The winning team, pictured topmost left walked home with cash vouchers.
16 17 COVER STORY
South East Asia is the world’s fastest 9 Haresh speaking during the press iProperty.com.my promises to be conference. growing property market. REA Group’s bigger & better 10 A few lucky ones even got to try Speaking at the official office opening expansion into Asia gives us the out our VR technology. 11 Members of the press being taken opportunity to help re-imagine how held for the media earlier today, Henry on an office tour – they were Ruiz, CEO, REA Group Asia, said the people find their next property through impressed! 12 Henry explaining more about the digital company’s investment into Asia the power of digital devices – like the Group’s mission to change the way is part of its long-term global growth mobile phone. REA Group’s global the world experiences property. strategy. experience and network will help “With a population of over 500 deliver best in class digital products million people and more than a million and experiences across Asia for all our property transactions every year, consumers and customers,” he shared.
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Haresh said that as the only property “While total advertising spend is at a similar level to portal in the world with a global presence, the opportunity to access Australia, digital only accounts for between 2 – 12% a global audience who are looking for of total advertising spend in key South East Asian value provides an amazing opportunity for our customers. markets like Malaysia. We see tremendous potential “We’re also able to collaborate for growth over the long term. This investment across the network to introduce new and innovative products, which will reiterates our commitment to Malaysia and our help to change the way Malaysians experience property. As part of REA confidence in the local market.” Group Asia, iProperty.com.my will – Henry Ruiz, CEO, REA Group Asia – continue to be the number one place where Malaysians start their property journey to find their dream home,” added Haresh.
16 17 A Story Built On Every Moment Video has become the most dynamic and powerful tool for marketing properties.
Make video part of your marketing plan today!
+603 6419 5166 [email protected] www.iproperty.tv ipropertyTV POINTS OF INTEREST
What is the difference between property agents and real estate negotiators?
Sorry to burst your bubble, but an agent is not the same as a negotiator in Malaysia. No worries, check out our beginner’s guide to get an explanation plus a few helpful tips! - REENA KAUR BHATT
Do you hear that siren’s call goodbye. Leads will not fall into your beckoning you to start a career in the lap just like that, you are going to have real estate industry? Buying and selling to hustle, and hustle hard. properties can be both rewarding and Are you still with us? difficult. The high-flyers bring home Before you jump into this exciting six-figure salaries, some earn enough and challenging industry, here are 3 while others only get a few thousand important things you need to know per year. Those who are used to a 9 about being a real estate agent and a to 5 job might want to kiss this dream negotiator.
PB 19 #1 The difference between a real estate agent & a negotiator #2 Rules you must follow Real estate agent (REA) Real estate negotiator (REN) Before you ask, “Aiya, why do I have A REA can own and operate his/ A REN is employed by a registered to get a certification? I can just start her own real estate agency and can estate agent. Since they do not marketing my services on social employ up to 30 real estate negotiators manage the business themselves, they media or word of mouth. Well, please to assist with the provision of real are not required to obtain a registration note that the Malaysian real estate estate services. These include selling, under BOVAEAP. However, these industry is regulated. Both agents leasing or searching (buying) a individuals must attain the necessary and negotiator must be registered property for clients. certification before they are allowed to with the Board of Valuers, Appraisers, practise. Every REN must attend a full Estate Agents & Property Managers NOTE: Each REA can hire a 2 days course, called the Negotiator’s (BOVAEAP), the industry’s governing maximum of 20 RENs. An application Certification Course, in which they will board in Malaysia, which is under the can be made to BOVAEAP to increase be taught the basics of estate agency purview of the Finance Ministry. to a maximum of 30 RENs (subject as well as the related laws, Acts and to BOVAEAP’s approval based on standards pertaining to the industry. A) A REA is only allowed to represent previous track record). If the firm has Upon completing the course, they one party in a transaction, either more than one REA, the REN numbers will be issued with a certificate of the buyer or seller. A REA is bound will then be multiplied accordingly. attendance, with which they can look by codes of conduct and strict and apply for employment with a laws under the Valuers, Appraisers Given their seniority, a REA is registered agency. The employer (firm) and Estate Agents Act 1981 (Act required to possess the necessary will then apply for the REN tag from 242). Any registered REA or firm academic qualifications and meet BOVAEAP. that commits any wrongdoings the minimum experience, standards Once the negotiator has obtained his will be subjected to BOVAEAP’s and expertise set by BOVAEAP. This designated tag and issue number (REN disciplinary action which includes includes the Real Estate Diploma XXXXX), only then can he or she start fines, suspension or deregistration. Course, a comprehensive set of representing sellers, landlords, buyers examinations where there are 12 papers and tenants. altogether. Applicants will have to The Quick Respond (QR) code obtain a pass for all 6 papers in Part 1 on the REN and REA ID cards can before being allowed to proceed with be verified by a customer using Part 2. a smartphone. It contains all the The exams will be followed by a negotiator’s information including his/ 2-year working experience with an her photograph. Alternatively, the existing agency as a Probationary customers can call BOVAEAP during Estate Agent (PEA) and finally sitting office hours at 603-2287 6666. for the oral test of professional competence (TPC). Detailed information pertaining to the procedure involved can be found here. Once completed, a REA will have his/her name on the Board’s list as a registered estate agent. A REA will also have to apply for a license to set up up his/her own agency. A REA will have to carry a formally issued ID tag. This blue-coloured tag will bear the agent’s and agency names as well as an E number (E XXXX).
20 21 POINTS OF INTEREST
#3 How much commission can I earn? B) All advertisements in newspapers A) As per the Seventh Schedule (Rule B) For lettings or rental properties, the and property portals posted by 48), the maximum commission fee is following maximum amounts are a REN must contain the Firm’s 3% for the sale or purchase of land and chargeable for tenancies: E registration number, firm’s buildings. This figure applies to other telephone number, firm’s name services rendered by the firm, such as • Up to 3 years: 1.25 months gross and REN numbers besides his/ a joint venture, sale of company and rental her mobile number. The public can property swap. For chattels including • >3 years, up to 4 years: 1.5 months easily cross-check any REA’s or plant and machinery, a fee of 10% on gross rental REN’s identity through BOVAEAP’s the proceeds is chargeable. • >4 years, up to 5 years & >5 years: websites; www.propertyagent.gov. 1.75 months gross rental my and www.lppeh.gov.my. However, these subject to a minimum • >5 years (with an option of renewal): fee of RM 1,000 per property. 1.75 months gross rental plus 0.25 C) Agents and negotiators are Meanwhile, the fee for the provision months rental for every additional prohibited from placing ads on of sale and marketing services is to year tree trunks and lamp-posts. Illegal be agreed upon between the estate brokers who put up ads (without agent and client. *Subject to a minimum fee of REN numbers) and commit any 1-month rental & this scale does other offence under Section 30(i) not apply to serviced offices or of Act242 is liable upon conviction apartments or any other premises of a to a fine not exceeding RM300,000 similar nature. For tenancies less than or imprisonment for a term not a year, the fee can be calculated using exceeding 3 years or both. a pro-rata basis. Well, there you have it – all the best in kickstarting your real estate agency career!
Also, illegal ads verified by BOVAEAP will be followed up with a communication to the Malaysia Communication and Multimedia Commission (MCMC) who will then suspend and bar the mobile number.
20 21 5 home makeover apps to help redesign your space
Itching to redesign your home? These home makeover apps will help you visualise your interior design wishes before making them a reality.
- KATHLEEN FERNANDEZ
Reinvention – that’s the spice of life. room, let alone a whole house, can be Every so often, we might want to tough. There’s a lot of guesswork and redecorate a room or move some visualisation involved and you have to furniture around to keep your home be careful not to get tangled up in your feeling fresh and new. But designing a measuring tape!
22 23 CONSUMER HACKS
Fortunately, there is a plethora of home 1. Homestyler interior design & 2. Magicplan makeover apps out there in cyberspace decorating ideas that can take a lot of the uncertainty Similar to the previous app, magicplan out of planning a redesign. Here are Homestyler allows you to snap a lets you snap photos of your rooms some of our top picks of home design photo of the space you’re planning to and turn it into a virtual floor plan. and layout apps: redecorate and turn that photo as a The app measures the dimensions of virtual fitting room for new home decor your rooms, allowing you to figure out ideas. You can change wall colours, what furniture fits best in which area. add items, move furniture around and No more wrestling with the measuring even add light fixtures. You don’t have tape and converting centimetres to to leave anything to chance with this inches. With this app, you’ll have the app. They even have a catalogue of real relevant dimensions on hand to make home decor items that you can try out furniture shopping a breeze. to see if you like it in your home. The app also offers tips, trends and other Price: Free (iOS & Android) interior design projects for inspiration. With over 5 million downloads, you know this app is the real deal.
Price: Free (iOS & Android)
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3. Home design 3D
Home Design 3D lets you design a 2D and 3D model of your home, from the dividers to the height and thickness of the walls. While this requires just a little more effort, once you have your dimensions locked down, you’ll have full access to thousands of furniture and accessories which you can use to redesign your entire home, room by room. You can view your designs in 3D to give you a semi-realistic experience. This app is geared towards the professional interior design crowd but the interface is user friendly, so anyone 4. Planner 5D – Home interior design 5. Houzz home design & shopping If you’re looking for a lighter change, can use it comfortably. & decor With an easy drag & drop function, perhaps a slight redecoration or a new Planner 5D lets you redesign, remodel, sofa set, Houzz is a great option. They Price: Free (iOS & Android) and renovate your home in an app have a treasure trove of home decor before committing to it in real life. ideas with millions of photos of interior Using augmented reality technology, and exterior design ideas to inspire. the app will scan your home to get The app also has a Sketch feature the right dimensions and render a 3D which allows you to draw out some space for you to work with. You can ideas and create a simple floor plan to customise almost everything, from the help you visualise your new designs. A wall colours and texture, to furniture, major plus with Houzz is that it can also accessories, flooring and more. The connect you to professional architects free version comes with a catalogue and interior designers in your area. of over 150 items and over 600 colours, textures and patterns while Price: Free (iOS & Android) the premium version offers over 3000 items and the ability to customise the Happy designing! size and appearance of all furniture.
Price: Free (iOS & Android)
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5 Creative ways to keep Malaysian homes cool without air con
Beat the Malaysian hot spells with these simple and natural methods. - RUBAA SHUNMUGANATHAN
At times, the prolonged heatwaves of our tropical country can be rather unforgiving, especially during the dry months. In case you’ve not noticed, Malaysia, particularly Klang Valley, has not been getting enough rain showers in the recent month. In warmer days like this, it’s tempting to crack the air-conditioner unit on full blast in order to cool the house. Unfortunately, it’s neither a budget-friendly nor an environmental-friendly way to reduce the temperature of your home. We agree that turning on your air- conditioner unit is the easiest and fastest method to cool your house but it might result in you racking up your electricity bill. It turns out that there are plenty of other ways to buffer your home from the heat without spending a fortune on your bills. Here are five natural methods to bring down the temperature of your home.
PB 25 1. Invest in blackout curtains 2. Make a DIY air-conditioner
If your curtains are letting in a lot of Now, this might sound impossible to sunlight during the day, chances are you, but trust us when we say it is a they are not insulating the interior from lot easier than you think. Although heat. The best way to deal with this is they’re myriad of ways to make DIY to switch them out for insulated ones air-conditioners, we will tell you the or even aluminised blinds that reflect easiest one which only requires you the sun’s heat while allowing the breeze three ingredients. All you need is a in. However, if you’re one of those metal bucket or a bowl, a bag of ice who likes curtains, then we suggest cubes, and a fan. Put the ice in the you invest in blackout curtains as they bucket and place the fan to blow over block sunlight, naturally insulating the the ice. Voila! rooms in which they’re installed. Our tip would be to opt for neutral-coloured curtains with white plastic backings as they can reduce heat gain by up to 33 percent.
26 27 CONSUMER HACKS
3. Cross ventilation
Air naturally moves from a high pressure area to a low pressure area. This is what creates breeze. Therefore, by opening the windows on both sides of your house, you will create high and low pressure areas on both ends respectively, creating a cross breeze that will draw the heat out.
4. Ditch the incandescent bulbs
Incandescent bulbs waste about 90% of their energy in the heat they emit, hence it’s a best to toss them away in order to make a small difference in cooling your home while lowering your electricity bill. Alternatively, you can switch to LEDs as they’re brighter, 5. Add plants super energy efficient and produce less heat, which makes them a worthwhile We all know that adding a pot or two lose water during transpiration and investment in the long term. During this of plants around your house can uplift this cools the air around the plants, summer days, it’s probably a good idea the aesthetic of your home. But it’s leaving it purified and fresh. Certain for you to look seriously into switching also worth mentioning that plants can plants can not only keep the air cool your home bulbs to LEDs. keep your house cool because they but it also helps flush toxins in the air as well. For example, areca palm tree acts as both a decorative house plant as well as a natural humidifier. In addition to cooling off your home, the areca palm can also remove benzene, formaldehyde and trichloroethylene from the air. Plants are definitely a natural and inexpensive way to keep the house temperate down.
26 27 Kuala Lumpur’s 5 best- selling residential projects
Desa Green - 103 transactions ( 586% Y-O-Y) Ó Median PSF: RM695 Median Price: RM525,000 (Ó 1.0% Y-O-Y)
Source: iProperty.com
• Type: Serviced Residence (Freehold) • Address: Jalan Desa Bakti, Off Taman Desa, Taman Desa, 5800 Kuala Lumpur • Completed In: 2016 (UOA Group) • Units: 1,388 units over three 35-storey towers; 578 sq ft - 945 sq ft. • Facilities: Children’s playground, A condominium in Taman Desa recorded the highest wading pool, gymnasium, leisure transaction volume among other sub-sale homes in KL pool, main lap pool, multi-purpose from September 2016 to August 2017. hall, open terrace, changing room & Sauna.
SELLING FACTORS 1 This project is in a fairly good The winners were selected and location, as it is nestled in between ranked according to the highest Petaling Jaya, KL Sentral and Cheras. number of unit sales recorded within Mid Valley and KL Sentral are just the time period. These transactions are 3km and 4km away, respectively. for secondary properties only and do Taman Desa is serviced easily by not include newly launched residential James Tan, Associate Director, multiple expressways and trunk products. Sales data is captured from Raine and Horne International shares roads namely the New Pantai the Valuation and Property Services his insights into the 5 projects and Expressway (E10), East-West Link Department (JPPH) and compiled reasons for their popularity among Expressway (E37), Kuala Lumpur- by iProperty.com’s big data solution, homebuyers. Refer to the ‘Selling Seremban Highway (E37) and iPropertyiQ.com. Factors’ section for each winner. Old Klang Road. There is also the proposed stop in Taman Desa under the MRT 3 (Circle Line).
28 29 iPROPERTYiQ.COM
OUG Parklane - 78 transactions ( 22.0% Y-O-Y) Ô Median PSF: RM418 Median Price: RM398,000 ( 5.4% Y-O-Y) Ô
Desa Green is also roughly 5.5 km away from the old Sungai Besi Airport (TUDM Kuala Lumpur) which is set to be the Site for Bandar Malaysia, an urban development project which will house the Kuala Lumpur-Singapore HSR terminus. Source: Google Maps
2 UOA Group is a well-known developer, providing great assurance to purchasers. The facilities provided Source: iProperty.com are very attractive too and a conscious effort was taken in adding • Type: Serviced Residence (Freehold) so during peak hours. However, green elements to the development. • Address: Taman OUG Parklane, Jalan OUG Parklane is well-connected - Puchong, 58200 Kuala Lumpur the Muhibbah LRT station is 1.2km 3 Taman Desa has abundant amenities, • Completed In: 2015 (Akisama Group) away; Jalan Puchong directly links from local eateries to grocery shops • Units: 4,225 units over 11 blocks (shop- to the Shah Alam Expressway and pharmacies. Faber Towers, the offices below); 950 sq ft (3-bedroom, (E5), connecting to the New Pantai neighbourhood mall was recently 2-bathroom unit) Expressway (E10) and Middle Ring refurbished in 2017 and now offers a • Facilities: Swimming pool, wading pool, Road 2 (MRR2). The nearest mall is wide range of shopping and dining children playground, landscape garden IOI Mall (5.3km) and the Bukit Jalil options. Moreover, the upcoming Recreational Park is roughly 3km Desa Commercial Center will SELLING FACTORS away. complement the existing Danau 1 With more than 4,000 units spread Business Centre and Faber Complex. across 30 acres, this project is high- 3 The project itself is well-equipped dense indeed. But for the same reason, with amenities, the shop-offices 4 The size of Desa Green units which the sheer number of units helps brings across the 11 blocks are taken up by are mainly in the 600-700 sq ft down the property prices, where the various restaurants, grocery stores, range, provides for a lower entry relatively large homes at 950 sq ft are laundromats, snooker centres and point, making it affordable for going from only RM350,000. 24-hours clinics. smaller families who want to live in the city centre. The 604 sq ft (1+1 2 This project is located in the Old bedroom, 1-bathroom) units are Klang Road locality, offering a central currently available from RM454,000 location. Traffic is an issue, even more while the larger 715 sq ft (2-bedroom, 2-bathroom) homes are priced at roughly RM500,000.
28 29 Garden and Bukit Jalil. Various Bandar Baru Seri Petaling - Taman Tun Dr Ismail - highways provide easy access to 56 transactions 52 transactions ( 11.1% Y-O-Y) popular localities throughout Klang ( 13.0% Y-O-Y) Ô Ó Median PSF: RM559 Valley - Shah Alam Expressway (E5), Median PSF: RM893 Median Price: RM750,000 New Pantai Expressway (E10), Maju Median Price: RM1.4 million (Ó 4.9% Y-O-Y) Expressway (E20) and Middle Ring (Ó 7.9% Y-O-Y) Road 2 (MRR2). Meanwhile, the Sri Petaling LRT station is located nearby the township.
2 Being a mature township, Bandar Baru Seri Petaling has it all - restaurants, clinics, various primary and secondary schools, a wet First launched in 1977, the 620-acre Bandar Baru Seri Petaling is a self-contained township. Its market, a hotel and even a shopping residential components consist of terraces, semi-Ds, mall, the AEON Endah parade. The bungalows and apartments. Source: Google Maps International Medical University and IMU Healthcare are also less than • Type: Terrace Houses (Freehold) 2km away. - Comprise of 1-storey, 1.5-storey, 2-storey & 2.5-storey units 3 There is a wide choice of terrace • Type: Terrace Houses (Freehold) - • Address: Sri Petaling, 57000 Kuala homes available, catering to different Comprise of 1-storey, 1.5-storey & Lumpur market segments. Prices vary 2-storey units • Developer: I&P Group according to unit size (from 770 sq ft • Address: TTDI, 60000 Kuala Lumpur • Status: The township has over 5,900 to >2,000 sq ft), location (Zone D, F, • Developer: UDA-Seapark Sdn Bhd homes and an expected population H, K, L, M, N & P), as well as land area • Units: Approximately 6,500 housing of 29,500 people. and extent of renovation work. Those units situated in Zone M, for instance, are SELLING FACTORS cheaper compared to homes built in SELLING FACTORS 1 Bandar Baru Seri Petaling or better Zone H. According to iProperty.com, 1 Nestled in between Mutiara known as Sri Petaling enjoys a 2-storey units in Zone M are as low as Damansara, Bandar Utama and Bukit great location and is fairly close to RM450,000 whereas 1-storey terrace Kiara, TTDI is a name associated the city centre. Situated just 10km homes in Zon H are in the range of with affluence. Homes in this hilly and 13km south of KL Sentral and RM600,000. Meanwhile, 2-storey neighbourhood are known to hover KLCC, respectively this township is terrace homes in Zone D are closer to near the RM 1 million mark. Besides flanked by other residential hotspots the RM1 million mark. its prime location, TTDI houses two including Taman OUG, Happy huge recreational parks, i.e TTDI public park and Taman Rimba Kiara. Also, this residential scheme has very wide roads, which are rarely seen in townships throughout the Klang Valley.
2 TTDI offers complete amenities and facilities. In fact, locals from all over the Klang Valley frequent
Source: Google Maps
30 31 iPROPERTYiQ.COM
Seringin Residence - 47 transactions (Ô 28.8% Y-O-Y) Median PSF: RM566 Median Price: RM1.1 million (Ó 8.1% Y-O-Y)
Taman Tun Dr Ismail’s (TTDI) residential landscape consists of link houses, semi-Ds, bungalows, townhouses and condominiums. Residents also have access to schools, colleges, religious centres, banks and a commercial with its own landscaped park. TTDI township also provides numerous community facilities to its residents such as schools, colleges, recreational parks, banks, religious amenities and medical institutions. Source: Google Maps
TTDI’s Lorong Rahim Kajai for its Source: YouTubeMY rows of local restaurants, pubs, fine dining, cafes, beauty salons and even gyms. Moreover, residents can • Type: Condominium (Freehold) court and the adjoining Sustainable shop for fresh produce at the TTDI • Address: Jalan Senang Ria, Taman Application of Green Energy (SAGE) Wet Market. In terms of healthcare, Serangkai, 58200 Kuala Lumpur building, a green recreational centre KPJ Damansara Specialist Centre • Developer: See Hoy Chan Group Sdn housing a function room, a herb is located right next to TTDI in Bhd garden and an eco-discovery centre Damansara Utama. • Units: 542 units within two, 24-storey with comfortable lounge areas and a residential towers; 1,707 sq ft - 6,760 library with a study and tuition room. 3 The new TTDI MRT station further sq ft adds appeal to the township. There • Facilities: 50-metre swimming pool, 2 There are abundant facilities in were no public transportation links lifestyle pavilions, floating gym, table the established neighbourhood of in TTDi before this. Now, residents tennis, convenience shop, sauna, Kuchai Lama - residents can easily have the option to commute via train jacuzzi, children’s playground, surau, drive over to the Kuchai Business to work, as the Muzium Negara MRT etc Park or Kuchai Entrepreneurs stop is only 4 stations away. From Park, located 1.3km and 2km away, here, commuters can walk over to SELLING FACTORS respectively. Here, they can find a KL Sentral, the transit hub which 1 These luxurious units with huge wide selection of restaurants and provides linkages to the LRT, KTM built-ups offer a unique proposition local eateries, saloons, mini markets, and monorail lines. Also, one can to wealthier urbanites. The developer cafe, boutiques, clinics, pet shops easily drop by one of the biggest has also provided an extensive array and more. Accessibility wise, Seringin malls in KV, the neighbouring One of facilities, some very unique ones Residences is just minutes away from Utama Shopping Centre is just one which are not available at other the New Pantai Expressway (NPE) stop away from TTDI (Bandar Utama higher-end condominiums. These and Old Klang Road (OKR). Station). include a 1km bicycle track, a tennis
DISCLAIMER: The source of Sale data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid while the source of rent data is from agents’ listings on iProperty.com.my. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.
30 31 Like it or not, PropTech is the future of real estate Malaysia’s real estate industry is undergoing a metamorphosis; technological innovations and changing consumer demographics demand that businesses adapt, or dare we say ‘disrupt’.
- REENA KAUR BHATT & AIDA KAMSURI
We normally relate metamorphosis as a transformation of something into a matured state. From real estate point of view, it refers to the evolution how they how they think and behave to These could be anything from fintech of cities. For example, New York City most importantly their spending habits. in real estate, crowdfunding, shared has evolved from a major seaport in Sr Sulaiman Saheh, Director of economy and artificial intelligence. the 18th century into one of the world’s Research of Rahim & Co, speaking All these innovations and proptech biggest urban areas today. at the 27th National Real Estate at large, is seen as a ‘disruption’ as it Along with a rapidly growing world Convention organised by Royal intends to change the way industry population, the wave of urban growth Institute of Surveyors Malaysia (RSIM), stakeholders including banks, realtors continues, causing cities to bloat and explained that todaythe consumer and banks operate, market and new metropolitan centres to emerge. world is undergoing a more dramatic transact real estate. Over the past few decades, the main transition due to the confluence of factors influencing the growth of cities fundamental disruptive forces. These have been widely discussed, but it forces are changing the face of the can be safely said that technology business world, and the property 1 In 2016, of the world’s 31 megacities - cities with is the main attributor. Advancement 10 million inhabitants or more; 24 are located market is no exception. in technology leads to new job in the less developed regions or the “global Hence, the emergence of proptech, South”, i.e: Africa, Latin America, and the opportunities, the introduction of developing countries in Asia. China alone was which is the use of technology to solve supporting infrastructure, better home to six megacities in 2016, while India had challenges in the real estate sector. five, reports United Nations. transportation networks and the creation of new residential boroughs or communities - all which draw people to cities. And as these cities advance, globalisation grows in tandem too. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Free trade, especially via online platforms in the past decade has created an abundance of products and services for consumers. Thus, resulting in a huge paradigm shift in the global 1 and local consumer landscape; from
32 33 INDUSTRY INSIGHTS
First, how did disruption come about? What really spurred the eureka Besides globalisation, disruptive Disruptive innovation is a term moment for Christensen’s theory in forces are also influenced by: coined by Harvard Business School 1995 was the launched of none other 1) Demographics professor Clayton M. Christensen in than Windows 95 by Microsoft. It was • 1 in 3 people will live in cities with at 1995. It transforms a product that was the beginning of a revolution that has least half a million inhabitants. existingly expensive and complicated helped shape the technology world for • In 2016, there were 512 cities with at that only a selected few with the the next two decades. least 1 million inhabitants globally. financial resources and technical skills • By 2030, a projected 662 cities will have access to, into a product that The push factors for disruptive forces have at least 1 million residents. “The world today is becoming more is more affordable and accessible Source: The World’s Cities in 2016 to the masses. It is different than a globalised and becoming one,” Sr by United Nations. breakthrough innovation where it Sulaiman said. “More commonly now, 2) A growing middle class (Table 1) intends to make a great product better. countries share similar peculiarities • The global middle class count with respect to market trends, exceeded 3 billion people in 2015 of These examples might give you some consumer behaviour and socio- whom almost half lived in Asia. serious flashbacks: economic challenges. This can be • Middle class wages have not grown seen through their lifestyle, consumer in many years which led to dropped Disruptor Disruptee preferences and communications. For rates in home ownership. Mainframe and instance, we tend to see more similar Personal computers • By 2030, 60% of the world typewriters choices for multinational F&B giants, population are within the middle Video streaming Video rental entertainment outlets and technology class group. Cellular phones Fixed line telephony drive”.
Table 1
Source: Hami Kharas (Brookings Institution, 2017)
32 33 INDUSTRY INSIGHTS
Changing consumer demographics Some examples of “sharing The above scenarios have become Proptech in housing and property economy” includes Grab (ride sharing); the plight of the middle-class, In property and construction, we are Airbnb and Homeaway (travel resulting in compressed purchasing seeing disruptive forces in, how we accommodations) and Wework and power, increased costs of living, high live, communicate, work, play, and NakedHub (office space). These apps household debts, rising house prices communicate. are here to stay and their market share and housing unaffordability. With plethora of real estate apps, the keep on increasing. The research below perfectly industry adapts to new trends such as: As advanced as these technologies encapsulates the emergence of new • The ability to access information may be, there are some concerns which generations of consumers: remotely and instantly. Whether see the death of retail and office spaces • Gen Y and the upcoming Gen Z you’re selling, checking listings, you and personal relationships where shows growth of young urbanites can search, obtain, and respond to there’s potential job loss. Although • Gen Y and Gen Z are market shapers inquiries without having to be in the there are divided opinions and whether and fuelled by internet savvy era and office or making a phone call. or not we are ready to embrace these proliferation of social media. • Realtors who don’t spend the time and money having online presence new forces, we can only agree that a forwards mindset and in particular the The spillover effects into real estate will be left behind in terms of assimilation of technology in real estate include: attracting prospective buyers. is the way to go. • New consumer mix: when two • Spending time and money for more Malaysia is already beginning to groups need to share living spaces; (business) visibility on mobile apps see this happening with MHub’s or when one generation is to host the and social media will create branding Credit Check, which enables property other as a member of the household. opportunity and selling success. developers and real estate agents to • Office, public and residential living run an instantaneous credit check on spaces are designed with the Real estate and technology are buyers where information is sourced demands of both group so it can inseparable in this digital age. With from Bank Negara’s Central Bureau. meet the needs of side-by-side technology advancements, realtors Meanwhile, Igloohome’s smart lock for generational workforce have more options to lure buyers to commercial and residential properties • The emergence of the development purchase properties.Blockchain is is designed for maximum convenience of multi-generational homes and dual another technology that could make and efficiency for owners. key units. an impact in the real estate market by offering real-time data that can help Take note however, that disruption secure financial transactions. doesn’t always entirely replace an The emergence of “sharing existing resource, rather digital economy” has also taken the world by technology complements or alters the storm. It is an economic system where resource’s capabilities. Case in point assets or services are shared between is MHub’s Credit Check solution. To private individuals, either free of charge disrupt or be disrupted, the answer or for a fee, typically by means of the may not be necessarily obvious, but it internet. Sharing economies allow is better for businesses and real estate individuals and groups to make money stakeholders to prepare themselves. from underused assets.
34 PB FREEHOLD MINDEN HEIGHTS, PENANG
Batu Ferringhi
Gurney Drive
Swettenham Pier
As the name suggests, Middleton is situated right at the middle of Penang Island, in the established and affluent neighbourhood of Minden Heights, Gelugor. Middleton is one of the lowest density condominium developments in the whole of Penang, with spectacular view of the first Penang Bridge, seaview of Straits of Malacca and Georgetown cityscape. What’s more, Middleton offers a floor layout designed for total-privacy living, hence it is no longer a dream to own a bungalow-in-the-sky.
Call now for appoinment to view the showroom The Galleria (Penang) 52, Jalan Sultan Ahmad Shah, 10400 Penang, Malaysia. Tel: +604 - 229 6288 Fax: +604 - 228 0188 +604 - 229 6288 The Galleria (KL) www.middleton.com.my Lot 4258 & 4259, Jalan Ampang, 50450 Kuala Lumpur, Malaysia. Tel: +603 - 4266 3388 Fax: +603 - 4265 3388
Middleton • Developer: Nuwata Sdn Bhd (506801-P) • Developer Licence No.: 9563-8/04-2019/01705 (L) • Validity Period: 09/04/2018 to 08/04/2019 • Advertising & Sales Permit: 9563-8/04-2019/01705 (P)· Validity Period: 09/04/2018 to 08/04/2019 • Approving Authority: Majlis Perbandaran Pulau Pinang • Land Encumbrances: NIL • Building Plan No.: MPPP/OSC/PB(6123)/13(LB) • Total Units: 220 only • Expected Date of Completion: Dec 2019 • Tenure of Land: Freehold • 5% Discount for Bumiputera • Minimum Price: RM1,528,000.00 • Maximum Price: RM1,832,000.00 • Subject to terms and conditions • How big data will change the face of real estate
Just like its name, big data is a term that describes the large volume of data – both structured and unstructured – that overloads a business on a day-to- day basis. But what exactly is the purpose of this large sum of data?
- RUBAA SHUNMUGANATHAN
36 37 INDUSTRY INSIGHTS
For most of us, the term ‘big data’ is Where does Malaysia stand? Importance of big data something that we are familiar with. With the presence of big data, it helps As mentioned earlier, big data is meant There’s nothing new about it as it transform the real estate industry as to be shared with different parties. has been around since at least 2001. it increases transparency. But where Therefore, it is important to know Having a huge amount of data is not does Malaysia stand in terms of what and how much of the data that important, but it’s what organisations transparency? According to the Global should be released for the benefit of do with the data that matters. By using Real Estate Transparency Index 2016 the people. As most of the data can big data, companies can analyse for by JLL, Malaysia is ranked 28th out of be found online, it allows different insights that lead to better decisions 109 countries, with United Kingdom, parties in the property market to and strategic business moves. Australia and Canada taking the first take advantage of it so that they can Sr Haji Nordin Daharom, the Director three spots. get their job done in a more fast and General of Valuation and Property This data tells us how the property efficient manner. For instance, with big Services Department of the Ministry of market is perceived in terms to data, property valuation can be done Finance Malaysia, recently said at the accessibility to data. Although Malaysia without actually visiting the physical 27th National Real Estate Convention is within the top 30 countries, but we site of the house. It not only saves time, that big data is meant to be shared so still couldn’t beat Singapore who took but it also gives property valuers more that fast and informed decision can be home the 11th place. time to focus on other aspects of their made for the benefit of the society. With a more clear and transparent job. accessibility, big data that are garnered In a nutshell, big data combined with from the public and private data technology update is the way forward sources can help potential investors in the current property market. With it, make better decisions. In addition to everyone from the property industry that, availability of and accessibility namely developers, valuers and to accurate, reliable and timely data investors can make a wise decision that are important to the operation of the will not only help themselves or their property market. company, but also the general public.
DISCLAIMER: The opinion stated in the article is solely of Sr Haji Nordin Daharom and is not in any form an endorsement or recommendation by iProoprty.com. Readers are encouraged to seek independent advice prior to making an investments.
36 37 4 reasons you should start saving to buy a property in 2018
There’s no need for forecast If you’ve been following Malaysia’s country saw a strong and synchronised from Raja Bomoh – the recent news closely, you would be well-aware growth. The trend saw a positive Malaysia economic outlook of the economic situation here in the incline from 4.2% to 5.9% that year; last couple of years. Global recession top it up with the robust growth we for 2018 and beyond brings coupled with two national tragedies experienced at the beginning of this plenty of good news for and political instability has left our year, the numbers suggest that we are property investors. economy in a tumultuous state; while on an upward trajectory for 2018 and this hasn’t shortened the Starbucks beyond.
- RUBAA SHUNMUGANATHAN line nationwide, it has considerably As such, some of the key areas that & MIRA SOYZA reduced the queue for new launches saw a positive increase are agriculture, and the grin on the faces of avid manufacturing and services sectors, investors. while the construction sector had However, a paper titled “Economic a moderate growth. Although the Outlook for 2018 and Beyond” growth in the real estate industry is presented by Professor Yeah Kim also moderate, many are still seeing Leng at the 27th National Real Estate this as a silver lining as the situation Convention gave us a few reasons to can improve in the years to come. smile again this year moving forward. This means that the property you’ve According to the Professor of had your eyes on may not be that Economics at Sunway University out of reach for long. So put away Business School, things started slowly those ‘teropong buloh’ and coconuts, looking relatively positive in 2017, as let’s look at the four key factors that for the first time in a long period the indicate it’s time to part with your cash.
38 39 INDUSTRY INSIGHTS
1. Cyclical upturn to continue in 2018 Looking at the post global financial crisis, a lot of imbalances and vulnerability have more or less been removed. In fact, the global economy saw a good improvement for the first time after eight to nine years. This suggests an expanding trend in the global market and Malaysia will also see a positive outcome. Besides that, the country’s GDP growth, supported by improving external demand is expected to grow at the higher end of 5.5% - 6.0% range in 2018. 2. Inflation to taper off to long term healthy. As for the property prices and However, it is important to note average demand, the next few years will see a that strong financial system can cope Here’s another good news for all. It moderately strong GDP growth and with volatile short term capital flows, is forecasted that the inflation rate is full employment, which is causing an but overcoming long term structural about to reduce this year. The above increase in income and an expansion in challenges such as insufficient high trend Consumer Price Index (CPI) working age population. skills workforce, industrial upgrading inflation of 3.7% in 2017 is projected On top of that, there will be a slower and productivity-led growth will need to normalise to 1.8% to 2.5% in 2018 but still a positive credit growth greater policy effectiveness. Therefore, as subsidy rationalisation and energy underpinned by strong domestic this is something that Malaysia needs to price shocks subside. Some analysts liquidity and continuing credit flow as seriously look at. are saying we are on a sweet spot, banks remain healthy. which means that we are on a high strong growth with low inflation. Although the forecast says that inflation will reduce, but the low income household remains vulnerable as this group are at high exposure to debt even though its relative proportion has declined slightly.
3. Mixed real estate outlook 4. Ringgit to strengthen further but As for the property industry, still under-valued construction activities continue to As for our currency, it has not been be driven by civil engineering works the strongest currency in the recent particularly in the large infrastructure years. But, it is slowly strengthening, and industrial projects as well as and in fact has emerged as one of the selective property development. top performing currencies. However, Besides that, the property market is the Ringgit still remain as the most also continuing to cool off after a rough undervalued currency in ASEAN. couple of years. Besides that, foreign funds are also The speculative demand has likely to flow back to the local equity evaporated but no major correction market once there is a clear indication is expected as the economy remains regarding this year’s general election.
38 39 Court of Appeal: Home buyers rights to be heard in an EOT situation
“House buyers must be given an opportunity to be heard prior to granting an Extension of Time (EOT) to developers who delay the completion of a housing development project,” rules Malaysia’s Court of Appeal.
On 30th March 2018, a bench of 3 judges consisting of His Lordship Justice Datuk David Wong, His Lordship Justice Datuk Harmindar Singh Dhaliwal and Her Ladyship Justice Datuk Hasnah Datuk Mohammed Hashim, unanimously ruled that the rights of home buyers must be heard before EOT applies. This landmark decision is the latest development in the 3-year legal battle brought by 104 homebuyers against the Minister of Urban Wellbeing, Housing and Local Government, Controller of Housing and developer, BHL Construction Sdn Bhd over the issuance of an EOT for the Palace Court (Sri Istana) condominium in Jalan Kuchai Lama, Kuala Lumpur. As stated in the Sales & Purchase Agreements The new ruling follows the first victory at the High Court on 27th February 2017, where the aggrieved parties (SPA) signed, one of the conditions were represented by a team of legal eagles from the National House Buyers Association (HBA). Led by Datuk required the developer to hand over Andy Wong Kok Leong, the 12 lawyers who acted on a pro bono basis also comprised of Albert Soo Kim Yan, Viola De Cruz, Andrew Chan Kah Jun, Koh Kean Kang and a group of backroom researchers. vacant possession within 36 months or be liable to a penalty for late delivery. Source: Chang Kim Loong (pictured fourth from left, front row).
40 41 INDUSTRY UPDATE
It was reported that between 2013 until April 2017, 304 EOTs have been issued and are possibly affecting more than 100,000 house buyers. It is indeed shocking that a total number of 304 EOTs have been issued by the Urban Wellbeing, Housing & Local Government Minister and those under his charge. The only word to describe this happening is “OMG” - Chang Kim Loong, Secretary-General of HBA -
This rampant proliferation of EOT’s developer, BHL Construction Sdn Bhd have been highlighted and explained to extend the completion period of the before in HBA’s previous articles, titled project from the originally agreed 36 ‘Extension of Time: Ruled Irregular by months stated in the respective SPAs Court of Law’ and ‘Shocking 304 EOTs to 48 months. issued by the Controller of Housing’, In essence, the EOT takes away published in the April and July 2017 the house buyers’ entitlement over issues, respectively. Liquidated Ascertained Damages (LAD) with a stroke of the pen without EOT curtailing the rights of house the knowledge of the house buyers buyers at the time of approval. The EOT is a The Sri Istana issue, now adopted as unilateral decision of the Ministry and a test case, challenged the legality of the house buyers were not notified let the EOT’s granted by the Ministry of alone consulted prior to granting of the Urban Wellbeing, Housing and Local EOT. Government (Ministry) in favour of the
40 41 The aggrieved buyers were only notified about this EOT at a later stage after it was approved leaving them helpless. The Ministry seems to have taken away the money due to said buyers for the late delivery of their property (vacant possession of purchased units).
The EOT was granted purportedly important that the affected buyers be • In Ketua Pengarah Kastam v Ho pursuant to regulation 11(3) of the given an opportunity to be heard prior Kwan Seng [1977] 2 MLJ 152, Raja Housing Development (Control & to any decision being made as it could Azlan Shah FJ in delivering the Licensing) Regulations 1989 (HDR) negatively affect the interest of these judgment of the Federal Court stated which is a subsidiary legislation buyers. the principle of law on the right to be enacted by the Minister pursuant to the Notwithstanding this, the right to be heard as follows:- powers granted by the principal act, heard is an entrenched principle of law (1)“In particular, the silence of the Housing Development (Control & even in the situation where the right to the statute affords no argument for Licensing) Act 1965 (HDA). be heard is not expressly provided in excluding the rule for the justice of the Under the standard terms of an SPA, the statute of law. There is a plethora common law will supply the omission the LAD for the late delivery of houses of case law from the Apex Court of of the legislature”. is 10% of the property’s purchase price Malaysia, which are in support of this (2)“In my opinion, the rule of per annum. Imagine if homebuyers are principle, such as the one below: natural justice that no man may be not able to claim damages - they will condemned unheard should apply have to continue paying for a rental • Majlis Perbandaran Pulau Pinang to every case where an individual is accommodation while the house is v Syed Ahmed MM Gouse Mohamed adversely affected by an administration being built on top of servicing their [2007] 1 CLJ 547, Justice Gopal Sri action, no matter whether it is home loans. Ram in delivering the judgment of the labeled “judicial” “quasi-judicial” or Court of Appeal observed that: “administration” or whether or not the The right to be heard is a fundamental “Although there are no positive enabling statute makes provision for a right words in a statute requiring that the hearing”. This recent ruling is important as party shall be heard, yet the justice the HDA and HDR are silent on the of the common law will supply the buyers’ right to be heard - it is wholly omission of the legislature”.
42 43 INDUSTRY UPDATE
“The buyers comprise of a group of people which can easily be ascertained, the buyers should at least be notified of the developer’s application (from the onset) for EOT and given a reasonable period of time to state their views before any decision is made.” - Justice Harmindar Singh –
• Shamsiah Ahmad Sham v Public In this recent decision of the Court of What’s Next? Services Commission Malaysia & Anor Appeal concerning the EOT, the bench This decision is certainly a breath of [1991] 1 CLJ (rep) 419, there was a rightly observed that right to be heard fresh air and a welcomed development breach of the rules of natural justice is a fundamental right and more so in this area of law. This decision sets the i.e. right to be heard due to the failure the HDA is a piece of social legislation minimum standard that the Ministry/ to afford an opportunity to explain. It intended to protect the rights and Controller of Housing should comply was held by the Supreme Court (now interest of house buyers in Malaysia. when considering the merit of an Federal Court) as follows:- As this is not done in the present application for EOT and sent a strong “It was manifestly demonstrated case, the Court of Appeal ruled that message to all the stakeholders that to us that the first respondent had the EOT is null and void partly for this the terms set out in the SPA should not infringed the rule of natural justice ground. be taken lightly and must be guarded in not affording the appellant the Under the standard terms of an SPA, zealously. opportunity to explain or controvert the LAD for the late delivery of houses Any attempts to unilaterally change her record of service which played is 10% of the property’s purchase price the terms in the SPAs must be carefully a part in influencing its decision to per annum. Imagine if homebuyers are scrutinized. The Minister & Controller impose the severest punishment not able to claim damages - they will of Housing should not change the permissible under the 1969 have to continue paying for a rental goal posts after a game of football has Regulations. On this ground and based accommodation while the house is started. on the authorities we have cited in our being built on top of servicing their judgment we have no alternative but to home loans. allow this appeal.”
NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur Tel: 603-2142 2225 | 012-334 5676 | Fax: 603-2260 1803 Email: [email protected] | Web Site: www.hba.org.my
Striving for House Buyers Rights and Interest
42 43 Colon cancer survivor, Choo Mei Sze: They wouldn’t disperse the loan, I felt so discriminated Imagine finding out that you have developed a rare type of cancer that typically doesn’t inflict those in your age group or gender – and you happened to be an anomaly. That was the fate suffered by the bubbly host, speaker and emcee, Choo Mei Sze. At only 27 years old, she was diagnosed with stage 2 colorectal cancer. With no genetic history, it came quite a shock to her to be diagnosed with a type of cancer that typically inflicts males, age 40 and above. The devastating news hit her while she was at the height of her career; her presence in the entertainment industry was blooming and she was in the midst of finalising her doctorate thesis in Developmental Psychology at the University of Hawaii at Manoa. Despite being shaken to core, Choo fought hard and with the help of her now husband and supportive family members she managed to defeat her demon. However, a few years later when the couple attempted to purchase a property under her name, she learned that the battle may just be lifelong.
First Youth Ambassador for National Cancer Society Malaysia shares her struggle with property purchasing and MRTA eligibility post-cancer.
- MIRA SOYZA
44 45 CELEBRITY PROFILE
The MRTA horror quickly travelled and became known Her first property was a residential to those in the insurance and banking property – Verve Suites in Mont Kiara – industry. The loan application was that she purchased pre-cancer. Choo approved but before her MRTA wanted a place that is a potential could be released, Choo received a investment and at the same time devastating news from her husband. suitable for her to live in. Indeed, she “He received a call from the banker, made the right call; within the first two and he wanted to confirm if I had years, every time the property was previously had cancer; and then we available to be leased, it was snapped were told that we weren’t getting up immediately. “Until now I still get the loan because we don’t qualify for agents contacting me for the unit. It MRTA,” she lamented. garnered a 6-7 % rental yield when I “At that moment, I felt like a burden was renting it out then,” shares Choo. to my husband since it’s a property for Her nightmare began when she was in his office.” the process of purchasing her second While undergoing health check is a property post-cancer, a commercial routine procedure, what really further place to convert into her husband’s upset Choo was the fact that she was office. After an extensive research, they still made to undergo a medical check- 2 decided on a unit in 1 Mont Kiara. “At up despite knowing what the outcome the time, the price was right and we would be. wanted a place where there was a mall “That was the first time I really cried, for food traffic. Hence, the location because I knew I wasn’t going to pass was ideal, but I did not anticipate the the test. I still went for it of course and discrimination that was coming my as predicted I didn’t get the MRTA way.” for the property and had to wait for As someone who lived in the public another three months until the loan eyes, the story of her cancer ordeal was finally dispersed.”
44 45 The burden of illnesses It is undeniable that to most of us Choo’s advice on purchasing a property for high-risk buyers: healthy bodied people, it almost never crossed our minds that illnesses of 1. Clarify your situation right off the bat any sort would increase our likelihood Don’t waste your time waiting for them to run through their of being discriminated and treated procedure. Tell them upfront about your health history and choose differently, especially when it comes to proceed without MRTA instead. to many finance related aspect of our lives. Choo’s experience was only one 2. Get a third-party insurer of many, and knowing that she will be Not everything is lost for those ineligible for MRTA. There are plenty facing this sort of difficulty for the rest of other third party options that are probably a little more expensive of her life is distressing. but will eventually provide you with the same coverage. She stresses the importance of having a proper procedure in place – at 3. Buy it under a company least one that’s more sympathetic of For business owners, you have the option of making the purchase the plight of those inflicted by such under the name of your company. experience. “We don’t realise this but people with critical illnesses or viewed as high risk get discriminated. “I was angry with the way the whole situation was handled. I believe that the bank knew that I was not going to pass the test. I should have been advised that I was not eligible to take up MRTA and have been given the choice to go without instead of making me go through all that. There should be a better policy in place or at least a proper procedure when it comes to notifying applicants of their eligibility.”
46 PB
5 unpopular towns in Klang Valley that are ideal for expats
Photo by Bruce Mars from Pexels
If you’re an expat looking for a cosy neighbourhood other than Mont Kiara to live, then these places are worth considering. - RUBAA SHUNMUGANATHAN
We know that leaving the comfort spending most of your time here. From of your own home country and moving wondering about crime rates to traffic abroad can be a daunting task. You problems, the quality of local hospitals will need to adjust to a whole load of and schools, it’s never easy finding the different things – ranging from food best neighbourhood to live in. In Klang and weather to language and lifestyle. Valley, most expats would opt live in But nevertheless, it can be one of the popular places like Bangsar, Mont Kiara best decisions you make in your life as and KLCC. While there’s nothing wrong you will be introduced to a new world with these towns as they are well- filled with different culture and people. equipped with international schools, If you’ve decided to move to Malaysia, malls and parks, but they definitely particularly Klang Valley, we guarantee come with a hefty price tag and is you that you’ll be in for an amazing overly-populated with expats. So, if ride. you’re looking for something more However, finding the right place unconventional, then we suggest you to live in is crucial when you move check out these wonderful areas that to a new country as you will be are ideal to move to.
48 49 POINTS OF INTEREST
Source: ©Gamuda Land
Kota Kemuning Located1 in Shah Alam, Kota Kemuning Besides that, this well-established is probably not the first place you think residential neighbourhood also has of when you want to find a house due HeroMarket, a one-stop grocery store to its distance to the city centre. But, that sells both local and international this neighbourhood is a close-knitted products to cater to the expat one equipped with most of the things community. In addition, most of the that you would need. properties in Kota Kemuning are gated There are a few international schools and guarded, hence making it perfect within the vicinity which include for your family as security is well taken Cherie Hearts International Preschool care of. Kota Kemuning, GlobalinkHouse International Preschool and Beaconhouse Kota Kemuning.
48 49 Source: © Wikipedia Commons Source: © Desa ParkCity
Kelana Jaya Desa ParkCity Unlike2 Kota Kemuning, Kelana Jaya, a neighbourhood Fondly3 known as DPC, Desa ParkCity that is part of the Petaling Jaya city, is slightly closer to is an award-winning master-planned the city centre and it has all the necessary amenities that development and is one of the most an expat would need. Kelana Jaya is a matured area that sought-after townships in Kuala is well-connected to different parts of Klang Valley – all Lumpur with its new urbanist (gated) thanks to the Kelana Jaya LRT Line and Damansara- community living concept. With its Puchong Expressway (LDP) that actually cuts through own central park, commercial area this neighbourhood. Apart from that, residents can also and international school, living in DPC find Paradigm Mall within their vicinity making the area is like living in a city of its own. Apart perfect to raise a family as well as for singles. Although from that, the neighbourhood is also Kuala Lumpur City Centre is about 18km away, most safe and is animal friendly. Hence, it’s residents would not need to go there frequently as they a good place to raise your family with have everything that they need in Kelana Jaya itself. From both your kids and furkids. international schools to malls as well as parks, you can find all of it in this neighbourhood.
50 51 POINTS OF INTEREST
Source: © Wikipedia Commons Source: © Wikipedia Commons
Seputeh Setia Alam Just4 a stone’s throw away from the This5 is another township that is quite far from the city famous Mid Valley City, Seputeh is an centre but is fully-equipped with the best amenities. established residential district that’s Located in Shah Alam, this relatively new township is an been around on the block for quite integrated development spanning over 4, 000 acres. It some time now. Apart from its close is easily accessible to other areas in Klang Valley via New proximity to the city centre, the area Klang Valley Expressway (NKVE) and Federal Highway. is also home to a good balance of Housing a number of international schools namely Tenby locals and expats, with many schools, International & Private School Setia Eco Park, Idrissi a common public park and places of International School and Peninsula International School worship within the area. Some of the Australia, Setia Alam is no doubt a hotspot for expats schooling options that are nearby who fancy living far away from the congested city centre. Seputeh include SMJK Kuen Cheng, Besides that, the opening of Setia City Mall also ensures Vikas International School, Methodist that the residents don’t have to travel out looking for College and Brickfields Asia College. entertainment outlets as the mall has plenty of good Besides that, the neighbourhood is restaurants, retail outlets and a cinema. also geographically close to KL Sentral, making public transportation a non- issue.
50 51 Source: Pixabay.com
Why logistics should be the next big thing in the industrial market
If we play our cards right, shifting our focus to logistics could get the Malaysian economy running at full steam.
- RUBAA SHUNMUGANATHAN
In the late 70s till mid-80s, Malaysia’s condominiums, and everyone forgot economy was doing extremely well. this blossoming sector. Hence, in We saw a growth of 12% yearly as 2017, industrial only saw 2% overall compared to now, where the economy volume of transactions, compared is only growing around 4% to 5%. to residential which had 62% of According to Siva Shanker, the Head transactions. of Investment at Axis REIT Managers Having a low volume of transactions Berhad, one of the reasons why our also means that the competition is low country was doing so well 40 years in this industry. Therefore, it makes ago was because we were opening more sense for developers to focus up a lot of opportunities for the on this market and bring the industry manufacturing sectors. We were back and running. There are two main making things and exporting them. activities in the industrial market – In fact, we were the number manufacturing and logistics. To put one exporter in the world for air- it in a simple term, manufacturing is conditioner. Unfortunately, at some basically factories that build goods point we changed our game plan and whereas logistics is warehouses where started building more retail complexes, the goods are being stored. Source: Pixabay.com high-end offices, shopping malls and
52 53 POINTS OF INTEREST
Source: Kaique Rocha from Pexels
Are we in for a bad time? they can stack up more goods. Apart Unfortunately, we know that the from that, they are also using more commercial and residential industry is sophisticated racking system, stringent struggling slightly in the last couple of safety systems, higher-load bearing years and it will take a while till it gets floors, more loading bays and dock better. Speaking at the 27th National levellers in order to ensure efficiency in Real Estate Convention, Siva Shanker the warehouse. believes that the industrial foothold is In order to accommodate such a quite strong. This is because there is a demand, there are many logistics hubs huge demand in the market for it right in Malaysia namely Shah Alam/Port now. Klang, Port of Tanjung Pelepas, Johor Port and the latest KLIA Aeropolis. KL The changing face of logistics Aeropolis is a huge piece of land that is In the recent years, a lot of people are said to be changed into a logistic hub looking at getting a bigger space for in order to take advantage of its close their warehouses. Shanker opines that proximity to the airport. If this is build, previously people were asking for a then it is no surprise that the logistics space that’s only 50, 000 to 100, 000 industry will be in high demand once square feet. But today, they’re asking again. Currently, the shortage of large for a much larger space, some reaching warehousing space is still prevalent up to one million square feet. Besides in the market. Therefore, developers that, customers are also asking for should tap on this market before it warehouse with higher eaves height so becomes too competitive.
52 53 Landed house or high-rise? It depends - I recently ‘upgraded’ to Bangsar & I’m saving money!
The key is to figure out your priorities first before deciding what and where to buy. Also, check out our guide on which property type will best fit you.
-REENA KAUR BHATT
With property prices climbing faster the benefits and the cost of a choice necessary for our long-term prosperity. than our salaries, it is no wonder why before making a decision, but very few When you choose or settle for an finding the right property to live in actually follow through in making the alternative over another ‘utopian’ can be a Herculean task for millennial most economical choice. one, you are doing it for the value urbanites. Many are uncertain over two This is because the most economical it provides - maximum returns at things: choice is not always easy or minimum cost - This is also known as 1) Which areas should I be looking at? conventional. You will have to get out opportunity cost. 2) What kind of residential property of your comfort zone and sometimes In November 2017, I shared my story should I consider? explore the path less travelled by. How on why I decided against purchasing many of you are willing to sacrifice a a car and rely on ride-sharing services Of opportunity costs & trade-offs luxury or a want(s) in order to achieve a such as *UBER and Grab instead, as Obviously, the decision ultimately personal goal? this avenue minimises my living costs. depends on your budget, followed by Since our unlimited wants can’t all your specific wants and needs. Every be satisfied, we have to make choices. *This was prior to UBER ceasing its operations in adult knows that one has to dissect The goods we forgo or sacrifice is Malaysia. The author now utilises MyCar instead.
54 55 POINTS OF INTEREST
The best part is that I have managed to cut down on my monthly expenses (for rent, utilities and commute to work) by RM200, as shown below:
Old Place New Place
(Titiwangsa) (Bangsar) Rent + RM950 RM950 Utilities RM400 RM200 a car will cost me RM874 My calculations showed that per month – Transport (RM20 X (RM10 X Myvi’s loan instalment (RM574); Petrol (RM200) & Parking (RM81). Cost 20 working 20 working Comparatively, taking a GRAB or UBER to and fro work only costs days) days) RM20 TOTAL me roughly RM400 monthly ( daily). RM 1,350 RM 1,150 COST
It has its downfalls - think surge Obviously, rent isn’t cheap in the city So quite a few of my acquaintances pricing and using public transportation centre but since a long commute (and have questioned my decision of instead during peak hours. But at the high transportation cost) is a no-no for settling to live in a ‘dump’. They may end of the day, these small trade-offs me, I was ready to trade-off on a few not get it as my priorities are different are worth it. luxuries to achieve my lodging goal. I from theirs, but I am happy with my My reasons are pretty elementary - I did achieve this as I secured a room in choice. The benefits I get in return seek financial stability, hence I require an old apartment building just 400m far outweigh the luxuries sacrificed. maximum savings for: away from the Bangsar LRT and 5 I will take the extremely convenient 1) Investment purposes - mutual minutes away from my office! commute which translates to more funds, small-cap funds, etc Here are the trade-offs: sleep and lower transport costs, any 2) Down payment on my first property 1) This condo is over 35 years old and given day. is basically a tower within a Also, the convenience of living in I am a Bangsarian & I’m not breaking compound which resembles a such a central location has made it pound lot. possible for me to be more sociable the bank I’ve continued to practise this ‘trade- 2) There are no facilities or any since most of my dinners or hangout off’ mentality. Late last year, I had a lifestyle component whatsoever. sessions are in Bangsar or somewhere major decision to make - I required a 3) The area is slightly ‘dodgy’ as nearby. new rental unit as my existing lease was the neighbouring condos are But, I digress! ending in December 2017. Living near low-cost flats which are not very the city centre is a must for me as I well maintained. Key takeaway - Know your priorities & work at Mid Valley and I can’t deal with what you are willing to sacrifice a long commute as it drains my energy Comparatively, my old apartment As detailed above, my major life and wastes valuable time, besides in Titiwangsa had a pool, gymnasium decisions are wholly dependent on my discouraging me from maintaining a and a much more conducive vibe. personal priorities, all which supports regular workout schedule. Nevertheless, my current unit is well- my financial freedom aspiration. By making a short commute my maintained and security is tight. Also, Fingers crossed, I will be updating priority, it has enabled me to be to there are only 60 units within the you with news of my first property a more productive employee and tower, so I never have to wait long for purchase in the next year or two. increase my earning power over the the lift! past few years.
54 55 POINTS OF INTEREST
for gated and guarded communities. This hinges on the density of the community, e.g. the lower the density the higher the cost per home. Other than that all maintenance expenses will be borne by homeowners.
HIGH RISE: Maintenance cost is usually higher since there are facilities and common areas to take into account. Fortunately, monthly maintenance cost is split among the many homeowners – most high-rise properties are densely populated, with at least 200 units in a development. Nevertheless, purchasers should research more about In that same vein, no two home Some developers have recently the property’s management team buyer is the same. Everyone has introduced attractive landed products, capability. Condominiums/apartments different priorities and obligations. measuring at least 1,000 sq ft within rely on good maintenance to keep It is paramount for you to figure out the RM400,00 – RM700,00 range, the building in good condition. If the yours and determine which choice check out https://newlaunch. property management team is subpar or alternative will provide you with iproperty.com.my/ and not diligent in collecting service the highest returns and support your There are many good deals in the charges and carrying out the necessary personal well-being at minimum cost. sub-sale market too (https://www. upkeep, the building could depreciate Here are a few tips for those iproperty.com.my/sale/all-residential in value quickly. deliberating between a landed or high- /?subChannel=subsale). These homes rise home: might not be bright and shiny, but they 3. Safety & quality of life make great starter homes and there is LANDED: Gated and guarded (G&G) 1. Value for price nothing a new coat of paint and some housing neighbourhoods are not LANDED: Landed properties are maintenance works won’t fix. without its supporters. Many see them usually much more expensive than as safe havens, especially families. their high-rise counterparts. Besides HIGH RISE: Besides its lower entry These areas which are well designed a larger space, their added edge point, high-rise properties are highly with proper fencing and security includes having your own privacy and popular mainly due to the variety of guards who monitor the movement of not having to share common areas facilities provided such as a gym, pool visitors in and out of the community with other residents. However, price and sauna. Also, most of the newer ensures that crime is kept at bay. So, tags greatly differ between locations. properties are part of an integrated be sure to carry out your own due Should your priorities be additional development, offering convenience diligence beforehand. space or a conducive environment and lifestyle components to its for family living, then do consider residents. Value-added amenities HIGH RISE: Safety issues are one of the alternative cities which offer more include LRT/MRT/KTM stations, main concerns for potential property affordable homes. colleges and shopping malls. However, purchasers. Most condominiums and With recent improvements in Klang those planning to start a family will apartment buildings are equipped Valley’s connectivity infrastructure, have to upgrade to bigger quarters with at least a 3-tier security system, there are numerous options available down the road or be willing to spend including 24/7 CCTVs and mandating for the savvy homebuyer. For instance, big bucks for a bigger built-up. the usage of a residents only access the new Rawang Bypass greatly card. This assurance besides there improves Rawang’s traffic congestion 2. Maintenance costs being only one or at most, two entry/ woes and provides that connectivity LANDED: The only maintenance cost exit points scores brownie points with oomph homebuyers desire. incurred is security cost, especially potential purchasers.
DISCLAIMER: The author is not promoting ride-sharing services explicitly. She is merely sharing her personal experience and how her financial decisions are shaped by her goals and aspirations. The views expressed are of her own and is meant as encouragement for other Malaysian millennials. It is not in any form an endorsement or recommendation by iProperty.com.my.
56 PB POINTS OF INTEREST
How to utilize EPF withdrawal money to purchase a house? Is your home ownership Purchasing your first home requires Here we lay out the step-by-step EPF dream cut short by a huge financial commitment and withdrawal process for the purpose of: insufficient funds and steep is no easy feat for most Malaysians, A) Purchasing your first or second especially if you work in the city. An home home loan instalments? ‘affordable’ mid-range family home B) Settling your monthly instalments Despair no more as you can costs roughly RM500,000 and calls for an existing home loan OR paying now explore the EPF route. for a 10% downpayment of RM50,000! down an existing home loan to save Let us show you how! Even after this first hurdle is passed, on interest costs you still have to worry about servicing First things first, register for i-Akaun - ALLEN PHUA & REENA KAUR BHATT your subsequent monthly loan repayments. Is it any wonder that most To get the ball rolling, you have to urban millennials are still living with register for the i-Akaun facility on the their parents? EFP website (https://secure.kwsp. We have an interesting tidbit for gov.my/secured/member/login). those who are in a financial bind - The fastest way to do this is through it is possible for both current and any nearby EPF Kiosk or counter. aspiring homeowners to dip into their Alternatively, you may contact the Employees Provident Fund (EPF) EPF Contact Management Centre at savings, in particular [1] Account 2 03-89226000. Once registered, you to help finance their home-related will need to activate your account by expenses. logging into your i-Akaun as shown below:
Screentshot 1
PB 57 EPF has made it very convenient for home purchasers to apply for withdrawals online rather than doing it manually through the counter. For first time applicants though, you will still need to present yourself at the counter. Subsequent applications can then be made via the site. Once you’re in, you will be taken to a page where you can select the different withdrawal types from the drop-down list.
A) Withdrawal to purchase (or build) a house You will have to first fork out the 10% down payment yourself, payable to the developer for primary properties or to the property owner if purchasing a sub-sale house. Only then will you category can only withdraw up to are encouraged to bring their bank be able to secure a home loan from 10% of the property price. So say your passbook OR a copy of their bank a bank/financial institution such as home costs RM500,000, you will be statement. Maybank, CIMB or AmBank and sign eligible to withdraw RM50,000 only. • Sales & Purchase Agreement (SPA) the Sales & Purchase Agreement (SPA). Alternatively, you will have to borrow As soon as your SPA is signed, apply or pool money from your parents, CRITERIA immediately to EPF to redeem the relatives or close friends in order to 1) Age below 55 at time of application. down payment paid. secure a 90% home loan. You can 2) Have at least RM500 in Account 2. One can apply to withdraw the then pay them back with the monies 3) The property in question has to difference between the house price withdrawn from your Account 2. It be for residential purpose only i.e stated in the SPA and the housing is wise to accumulate the sufficient bungalow/terrace/semi-detached/ loan amount (which is typically 90% amount of savings first before making apartment/ condominium/studio as most first time homebuyers have to your move; you wouldn’t want to be apartment/serviced apartment/ submit a 10% down payment) on top indebted to your loved ones for a long townhouse / SOHO or a shop lot of an additional 10% on the price of the time.” with a residential unit. house. For instance, 4) Can either be a Malaysian or non- REQUIRED DOCUMENTS: Malaysian as long you are an active SPA price: RM500,000; Loan • EPF Withdrawal Application Form 9C member and have been making EPF Amount (90%): RM450,000 (AHL) (D5) contributions. • Your Malaysian Identity Card (first 5) Your home purchase can be either Amount you can withdraw: time only). Thumbprint verification financed by a home loan granted (RM500,000 - RM450,000)+ (10% of will be captured for subsequent by banks or via an outright cash RM500,000) = RM100,000 applications. purchase. • Bank loan documents (Letter of Loan 6) Withdrawal is only valid for one Of course, withdrawals are limited to approval or Loan Facility Agreement) property (house) at any one time. the savings amount in your Account 2. certified by your borrowing bank. Should you wish to apply for a Inform the bank officer your intention second home, this is only possible “WHAT IF I AM UNABLE TO COME to withdraw from your Account 2 and once you have disposed of your first UP WITH THE 10% DOWNPAYMENT the rest will be done for you. You can property. You must submit the proof IN THE FIRST PLACE? You would either collect the documents yourself of transfer of ownership. want to explore 100% financing at the branch or have it mailed to 7) The application must be made schemes offered by a few banks. you (usually within 2 weeks). Hence, within 3 YEARS of signing the SPA. To my knowledge, one such bank is make sure to collate your documents If it has been over 3 years since your MBSB, subject to certain conditions. a few weeks before. house purchase, don’t worry. You However, applicants under this • Bank account information. Members still have the option to apply for
58 59 POINTS OF INTEREST
Screentshot 2
withdrawal on a monthly basis to CRITERIA Again, the whole process is pretty reduce your housing loan (discussed 1) Same as above for Criteria 1-5 fast and takes less than 3 weeks to below). 2) The house in question must be your complete. An example of the timeline is first residential property/house. as Screentshot 2 above: A plus point: EPF is very efficient in 3) You must be an owner of the An application was made on 19th processing applications. The whole property and have an outstanding March and it was submitted for the process takes less than 3 weeks from home loan with a bank. bank’s verification on home loan the day of application to the point details. The bank in question approves of the money being deposited into The next step will be to obtain the said details within a week on 26th your account. Once your application latest loan balance statement from March. The following day (27th is approved, you will receive an SMS your bank and submit it to EPF. Your March), EPF proceeded to process requiring you to be present at any EPF bank will take about 2 weeks to the application and it was finalized on counter for thumbprint verification. process this. 4th April. You will be given a period Speaking from personal experience, it You may apply to withdraw all your of 2 weeks to present yourself at EPF only took 3-4 days for the money to be savings in your Account 2 but this will counter for thumbprint verification. received! be paid to on a monthly basis, not Once that is done, money will be exceeding the amount of your monthly disbursed to you within 3-4 days. “DID YOU KNOW: EPF withdrawals housing instalment. Do go through the detailed made for home loan purposes are not For example, say your monthly explanation available on the EPF subjected to tax.” repayment is RM1,000 and you have website to gain a better understanding. a total of RM10,000 in your Account Better yet, walk into any EPF office and B) Withdrawal to help pay instalments 2. RM1,000 will be credited into your speak directly to the officer on duty or to reduce housing loan personal account or directly to your regarding your withdrawing options. Let’s say you were not aware of the borrowing bank each month over 10 We wish you the best of luck! withdrawal above and you have months. already purchased a house over 3 years ago. You can still opt to withdraw your NOTE: Those who apply for withdrawals EPF money to assist with paying your before the 3-year mark of their home monthly instalments or to pay down purchase, can request for the EPF the capital of your home loan to save money to be paid in a lump sum to help on interest costs. pay down their home loan balance.
[1] Each month, the EPF amount contributed by your employer and yourself will be separated into Account 1 and 2, respectively according to the 70:30 ratio. Account 1 is the principal account and can only be fully withdrawn upon death, retirement or leaving the country for good, i.e giving up your Malaysian citizenship. Account 2 a.k.a the Withdrawal Account is the one which you can utilize for housing loan purposes and others including educational, investment and health purposes.
*Article was written in collaboration with Allen Phua. The personal experience sharing is courtesy of Allen Phua.
58 59 5 low maintenance indoor plants for the busy beavers
Wondering what indoor plants work best under limited sunlight, water and basically human effort? Check out this list!
- MIRA SOYZA
We get it, caring for another life However, not all greenery require a form can be a challenging task for go- lot of exposure to sun light and daily getters and jet-setters like us. What’s watering; there are plants that require more, as urbanites the majority of us very little maintenance, attention, and opt to live in condominiums or service yet help to beautify your living space. residences which could make having Some go as far as help you maintain beautiful decorative plants that last a healthy, flawless skin — and if that and thrive at home impossible unless it doesn’t get you excited I don’t know is your intention to have them replaced what will. every month or so.
60 61 CONSUMER HACKS
For those of you seeking stress-free needs just enough water to thrive greenery options, here are a few to so keep the watering to only several consider: times a week. The spider plants have been found to be effective in removing 1. Pothos formaldehyde and other toxins such You can put these tough little guys in as carbon monoxide. With just a little a pot or let it hang from the ceiling. effort you get to breathe clean fresh 1 It can thrive with close to no sunlight hair on a daily basis without the need at all and the lower the light, the less of an air purifier. As they grow out variation of colour your plant will have. and cascade beautifully, they are best You don’t have to worry about tending displayed by hanging them off an to it everyday either, it only requires awning or beam. watering once a week, so back off with that watering can, buddy. This plant 4. Peace Lily also demands very little in terms of air Curving white blossoms and dark quality, on the contrary, helps absorb leaves are only small part of what toxins from its surroundings. You only makes this plant extremely attractive. need to trim it every once in a while to These pretty babies are also known as avoid it from overgrowing. closet plants, for one reason: they enjoy 2 medium to low light and the amount of 2. Aloe light they receive will determine what This succulent plant contains medicinal it looks like. For lovely white spathes properties that can be used to treat and flowers, place them under bright minor burns, cuts, blemishes and cold light, and if you want them to look sores. Unlike Pothos, Aloe requires more like a traditional foliage plant, natural, indirect sunlight to grow keep them out of light. It prefers to be healthily, thus placing it close to the under-watered, so you don’t have to 3 window would be most ideal and make religiously water them. Check to see sure to rotate it every six months. While if the soil is dry about once a week to it does not demand to be watered know if it needs watering. daily due to its ability to store water in its roots and leaves, make sure to 5. Snake plant hydrate it thoroughly every 2-3 weeks The award for most tolerant indoor depending on the weather condition. plant definitely goes to the snake Over watering may lead to the plant plant. Also, known as the mother- 4 dying—such is the ease that comes in-law’s tongue’, this plants needs a with greenery that is not a big fan of straight forward care: water every hydration. two to three weeks and keep under minimal light. Much like the other 3. Spider plant indoor plants, snake plants also help These babies may not be the keep the air inside your home clean by easiest plant in the list in terms of removing toxins such as formaldehyde 5 maintenance, but it is definitely the and benzene. It survives in any room easiest to propagate. Ideal for the temperature and if you’re lucky, you Malaysian climate as they grow best may catch a flower sprouting from it. in bright, indirect sunlight, this plant
60 61 8 ways to get more Airbnb bookings and maximize your profits
Getting your property listed is one thing, but getting tenants to choose your Airbnb over countless other isn’t quite as straightforward as it may seem.
- EMMA RICHARDS
So, you’ve decided to join the Airbnb 1. Keep your admin game strong movement. Perhaps you’re going on It might sound boring – and it generally an extended trip and want to rent your is – but making sure your profile is up place out while you’re away. Or maybe to date, you respond to all comments, you’ve got a second property that’s and promptly reply to all enquiries, is just languishing empty and you want absolutely essential if you want to get to put it to good use and earn an extra noticed. few bucks. Plus it all adds to the chances of you While we all know the obvious becoming an Airbnb Superhost which no-noes to avoid in your rental – I’m can be priceless in getting your listing looking at you dirty kitchen and full to the top of the pile. laundry basket – there are also a bunch of useful tips that you can use to make your listing hot property on the home- sharing platform.
62 63 POINTS OF INTEREST
2. Feature one high class design piece Now for the fun stuff. More often than not, places are a clutter of unremarkable, cookie-cutter furnishings that inspire little excitement. This is, of course understandable, especially in a second home. But one striking piece can make your place stand out from the others. Invest in an eye-catching feature piece, like the mosby lounge chair Source: airbnb.com from Urban Edge, to give your place an edge. When set against a white backdrop, a good quality chair with This city centre studio in Madrid nails clean lines and in a vibrant colour will it; minimal clutter, bursts of colour, make your living room pop. funky art, and a mirrored wall all make the place look and feel inviting.
4. Emphasize your clean bathroom It goes without saying that your whole place should be spotless before guests arrive. But it is universally accepted that people especially love a crisp, clean bathroom, like this one in Bali. After all, no one wants to be reminded of past residents when using the facilities so make sure you give your bathroom a deep clean and get it sparkling. Place some white fluffy towels in there to give it the five-star vibe, and if you’ve got a tub, flaunt it!
Source: www.urbanedge.com.my
3. Get arty If you’ve got a fairly plain apartment and not much room (or money) to get a feature piece to jazz it up, some splashes of colour on the wall could be the answer. You don’t have to invest in a Picasso, but some tasteful prints on the wall or even an artistic rug can liven up a place and they don’t take up any valuable Source: airbnb.com floor space in smaller rooms.
62 63 POINTS OF INTEREST
5. Creative camera angles are your best friend This isn’t strictly something you can do with your property, but certainly a handy trick that can make a difference and it costs you nothing. The right camera angle can enlarge a space and make it significantly more appealing to anyone trawling through hundreds of similar postings. While a fisheye lens may be taking it a little far, it’s perfectly acceptable to add Source: airbnb.com internet “curb appeal” to your listing by employing a wide angle.
6. If you’ve got architectural beauty, 7. Lighting and mirrors abundance of natural light and lighting flaunt it! Making your property appealing can for the double whammy. If you happen to own a special gem sometimes be all about illusion. A Mirrors are also great as they reflect with its own architectural or design brightly lit room is immediately more the light back into the room and also highlights, make sure not to drown appealing than dark and dingy places, give the illusion of a bigger space. If them out with too much clutter. so make sure you light up your space. you can, a wall of mirrors makes a place The paired back furnishing in this Natural light is undoubtedly the feel significantly roomier. 100-year-old house in Tokyo (below) best way to go, but if you’re struggling shows off the unique architecture and for that, a few well positioned lamps 8. Make your outdoor space a feature exposed wooden beams. Features like around the place can make all the If you’re lucky enough to have this can be priceless for getting people difference. This cosy place in the some outdoor space, make sure the through the door. Hollywood Hills has the right idea; prospective renter knows about it! Some outdoor furniture or simply a beanbag can transform an otherwise neglected balcony into an extra room and somewhere for tenants to kick back and relax. While it might not hold much novelty for us here in Southeast Asia, any guest coming of the colder climes of Europe or America would absolutely love the chance to bask in the sunshine on their very own balcony.
Source: airbnb.com
Source: www.urbanedge.com.my
64 PB
6 must-have herbs to grow in your kitchen garden
Not only is herb gardening Growing your own herbs is as easy a therapeutic and fulfilling as ABC. Forget the mayonnaise, chilli hobby, but you get to sauce and MSG, spice up your food with some good ol’ herbs instead. Not (literally) reap the fruits of only are they bursting with flavour and your labour too! make great condiments or garnishes, their health benefits can also be life-
- AIDA KAMSURI & REENA KAUR BHATT changing. Most herbs are pretty easy to grow too, you can either grow them in containers filled with soil or through hydroponics. We have shortlisted 7 “To nurture a garden herbs for you to check out; it doesn’t is to feed not just on matter if you have a backyard or not as they can easily fit on your windowsill or the body, but the soul.” condo balcony. The best part is they all have one -Alfred Austin- thing in common – they require very little maintenance. No green fingers required!
66 67 CONSUMER HACKS
4 Matt Blatt Rizza brass wall shelf, $395. 5 Pillow Talk Mason shelf, from $39.95.
ROSEMARY CORIANDER MINT Known for its strong aromatic flavour, Coriander is a great plant for newbie Growing mint either indoors or rosemary is perfect as a finishing gardeners. Being a care-free herb, it outdoors is relatively easy. Just touch to meat dishes such as grilled is fast growing and quite possibly the remember to water them regularly. lamb, fish and wild game. It also easiest herb to plant. You might have With its refreshing, sweet mellow complements roasted potatoes, even seen your own mom putting flavour accentuated with hints of beans and sauteed mushrooms. aside the stems of some leftover lemon, it is no wonder why mint is This plant is known to very hardy coriander in a jar filled with water and used as a garnishing in salads or and is a “survivor” in all climates. letting it breathe by the windowsill for to jazz up hot tea. This plant also Nevertheless, do remember to keep a couple of days before transplanting completes many a Peranakan dish, your pot in a sunny spot to avoid the it into a pot filled with soil. including Assam Laksa, Nasi Ulam and plant from being infected with white Every Malaysian child is sure to have Nyonya curries. powdery mildew caused by airborne seen this leaf garnishing their favourite Moreover, having some ready-to- fungus. foods such as porridge, steam fish and pluck mint leaves within easy reach The French swears by Rosemary and curries growing up. Coriander is also a allows you to show off that host or believes that when applied externally staple in salads, either as a garnishing hostess skills. Mint is the perfect in the form of an infused oil or salve, or to make a salad dressing, usually companion to jazz up popular will help protect the skin and slow blended with lime juice, honey, cocktails. mocktails and even punch, down tissue ageing. avocado and balsamic vinegar or all which surely impress your dinner Rosemary essential oils are very olive oil. This yummy and refreshing guests. popular too, thanks to its bevy of dressing could even motivate you to For generations, mint leaves have benefits including providing relief eat more greens. Give it a try and say been prized for its ability in soothing from indigestion, anxiety, headache, to hello to a healthier you. indigestion and motion sickness, joint pain, cold and flu. Besides that, research has proven among its many other wonders. With you growing your own that coriander's antifungal and Now you know why many local food rosemary, you have the option to antioxidant properties are wonderful establishments include mint in their distil your own essential oil at home. for treating skin conditions such appetisers and why balm solutions are Alternatively, you can utilise extra as eczema and fungal infections. usually mint based. It’s time you add a rosemary by infusing it in a carrier Similarly, freshly ground coriander minty element to your home garden! oil such as safflower and sunflower leaves mixed with aloe vera is fantastic oil in a clean glass jar. Let it sit for a for treating acne or pimples. That's month or so and voila, you will have reason enough to grow this plant stat! a relaxing, therapeutic oil to sprinkle into your bathwater or on your pillow.
66 67 CONSUMER HACKS
THAI BASIL DILL PANDAN A popular cooking herb, especially Avid foodies swear by using fresh Predominantly known as a must-have in Southeast Asia, Thai Basil is most herbs instead of dried or powdered plant in every Malaysian backyard, commonly used to add a fresh yet ones and dill is a crowd favourite this fragrant and aromatic leaf adds a bold and spicy flavour to soups, for its strong, distinctive taste with perfect touch to desserts, especially curries and Asian salads. This herb bitter undertones. Usually added to bubur cha cha and as a flavouring thrives only in very warm weathers, so yoghurt sauces, seafood dishes, potato in local cakes and cookies. Pandan hurrah to Malaysia’s tropical climate, eh. salads and soups, this plant which is a leaves are also used to wrap savoury Unbeknownst to many, Thai basil member of the parsley family is also foods, such as chicken or sticky rice also boasts anti-bacterial and anti-viral used as a garnishing. before steaming them. properties that may help fight against This sun-loving herb has very long In South East Asian households, it is diseases and boost your immune roots hence, you won’t have to worry a common sight to see pandan leaves system. Hence why the old folks about watering it regularly once the bundled together in refrigerators swear by its healing properties and plant has grown nicely. Nevertheless, as a deodoriser and natural room champion Thai basil’s use as a cough remember to plant in a deep pot as fragrance, or knotted prettily as a car and cold remedy. One can whip up a its long tap roots require quite a bit of freshener. When steeped in water to DIY concoction by boiling a handful room. make a tea, pandan is also great for basil leaves in some water over the Research shows that dill leaf extract combating stomach cramps, lowering stove. Strain the remaining liquid and has anticonvulsant effects, which blood pressure and alleviating fevers. sip your basil tea twice or thrice daily may help treat epilepsy. Dill weed is Being a tropical plant, pandan thrives to speed up recovery. a great source of calcium, iron, and in high humidity. It can grow as high Now you know what to do the next is antioxidant-rich. Its flavonoids as 15 feet high when planted outdoors time you are hit with the sniffles! provide anti-inflammatory and antiviral in a garden. When planting it in a pot, properties; some of its benefits include make sure the pot is deep enough subduing menstrual cramps, lowering for sufficient root growth and wide cholesterol and reducing depression. enough to support its long leaves.
68 PB CONSUMER HACKS
7 unique local furniture stores you need to know about
4 Matt Blatt Rizza brass wall shelf, $395. 5 Pillow Talk Mason shelf, from $39.95.
Recrofurniture
© Recrofurniture
Upcycling has never been trendier and Recrofurniture take reuse and Level-up your home recycle to a whole new level. This interior with a unique boutique furniture store creates statement piece. reproductions of vintage, retro, mid-century, and industrial style furniture while also providing - KATHLEEN FERNANDEZ restoration and reupholstering services. Here, you can fine 60’s
Character. That’s what makes a inspired retro furniture as well house feel like a home. Whether it’s a as a collection of industrial chic macramé wall hanging or an eccentric home accents. The furniture are all coffee table made out of pallets, either made or restored by hand picking the right furniture can elevate with locally and regionally sourced your home and add exclusivity. materials which makes this the Sprinkle some individuality into your perfect place to help you lock down abode with the help of these unique that retro chic which has started to local furniture stores: establish itself as timeless style.
Location: 53-53A, Lorong Rahim Kajai 13, TTDI, Kuala Lumpur
PB 69 Bawang Studio Lasting Impressions Lain
© Bawang Studio © Lasting Impressions © Lain
Founded by a group of local Positioning themselves as the Helmed by local furniture maker, designers and builders, Bawang leaders in Oriental home decor, Hani Ali, Lain offers a range of Studio provides interior design, Lasting Impressions has an unique furniture and interior architecture, and custom furniture impressive collection of authentic accents for those who admire services. The prevailing style of restored Chinese antiques and simplicity and practicality. Lain their interior furniture design modern Oriental wooden furniture. creates bespoke furniture that fuses is a curious blend of classic The pieces you’ll find here carry Australian and Malaysian culture sophistication with a splash of a weathered look, complete and styles. Whether it’s a simple funkiness – accenting wood with with intricate Chinese art that side table or an intricate dining metals and bright colours. Bawang guarantees an air of class befitting chair with hand carved details, Lain Studio pieces can take your home the Chinese dynasties of old. is your go-to for minimalist wooden from traditional Scandinavian Working with designers across furniture that will subtly but minimalism to modern chic with the country, Lasting Impressions significantly elevate your home – minimal effort. can help you communicate your their piece are often one-off, which appreciation for the finer things in only adds exclusivity. life.
Location: Flexus Signature Suites, Location: Sunway Damansara, Location: 16, Jalan USJ 1/32, Jalan Kuching Petaling Jaya Subang Jaya, 47600 Petaling Jaya, Selangor
70 71 CONSUMER HACKS
Abumama Harith Green Kedai Bikin
© Abumama © Harith Green © Kedai Bikin
For something a little kinder on Founded by Harith Ridzuan, a With designs coming from your bank account, Abumama seasoned woodworker from Kuala their studio, Kedai Bikin features offers second hand furniture from Lumpur, Harith Green embodies Malaysian-crafted furniture and sofas to dining tables, wardrobes, the philosophy of upcycling with home accessories made by artisans. media consoles and more. the aim of reducing dependency on Kedia Bikin offers a full range of Abumama refurbishes preloved timber. Furniture by Harith Green furniture from chairs to stools, home and office furniture and incorporates reclaimed materials tables, and even candle sticks and offers them for resale at affordable to create beautiful layered designs architectural hardware. Whether prices. As they say, one man’s trash and sophistication. They also work you’re looking for something all- is another man’s treasure. You’re with locally-grown bamboo for an wooden, all-steel, or a combination bound to find something here that eco-friendly alternative, perfect for of the two, Kedai Bikin’s designs would be the perfect statement moving towards a more sustainable are refreshing, elegant, and would piece for any room. lifestyle. easily fit into your personal style. For a hit of nostalgia, they even offer an updated version of string chairs that were common back in the 80s and early 90s - perfect for lounging outdoor in this Malaysian heat.
Location: Seremban, Cheras, & Location: Factory in Ampang – Location: Ground Floor, 8 Jalan Kajang best to contact via email Abdullah, Bangsar
70 71 KNIGHT FRANK
Malaysia Commercial Real Estate Investment Sentiment Survey 2018
72 73 RESEARCH DATA
Key Players’ View
The survey targeted key players While the overall sentiment for “The Key Players’ View” supplements in commercial property, namely, commercial property remained the findings of the Malaysia Developers (56%), Fund / REIT subdued, it is interesting to note that Commercial Real Estate Investment Managers (24%) and Commercial the players have similar and contrasting Sentiment Survey 2018, which was Lenders (20%), to grasp their views on the different commercial sub- released in late January. sentiment in real estate investment. sectors.
2017 PERFORMANCE How would you rate the performance of the commercial property sub-sectors (in terms of yield, return / margin) in 2017?
of the sub-sector, which tend to Results: Analysis: • All respondents opined that the • Developers’ dissatisfaction towards consistently generate reasonable office, hotel / leisure and logistics the retail sub-sector may be returns. This will be even more / industrial sub-sectors performed attributed to the oversupplied crucial in times where other sub- fairly in 2017. market and prevailing challenges sectors, such as retail and office, are • Only Developers are not satisfied which have collectively reduced the facing headwinds. with the performance of the retail feasibility of retail developments sub-sector in 2017. over the past year. • Fund / REIT Managers are satisfied • On the other hand, Fund / REIT with the performance of the Managers’ positive view towards the healthcare / institutional sub-sector healthcare sector may be justified in 2017. by the sustainability and resilience
72 73 EXPECTED PERFORMANCE FOR 2018 What is your performance expectation of the commercial property sub-sectors (in terms of yield, return/margin) in 2018?
• Fund / REIT Managers and Lenders Results: • Lenders, however remain cautious of • All respondents hold a pessimistic expect similar performance in the the logistics / industrial sub-sector view towards the office and retail healthcare / institutional sub-sector amid the immense hype surrounding sub-sectors for year 2018. while Developers expect this sub- it although the fundamental outlook • Developers and Fund / REIT sector to perform better in 2018 for the sub-sector remains rosy. Managers expect the performance • Developers’ positive outlook on the of the hotel / leisure and logistics / .Analysis: healthcare / institutional sub-sector industrial sub-sectors to remain flat • Lenders’ positive take on the hotel / is attributed to dim prospects in in 2018. Lenders, however expect leisure sub-sector may be attributed the office and retail sub-sectors. the performance of the hotel / to the resilient tourism industry, Hence, this inadvertently enhances leisure sub-sector to improve and which will have a direct correlation the prospects for the healthcare / are less optimistic on the logistics / towards hotel occupancy level. institutional sub-sector. industrial sub-sector.
74 75 RESEARCH DATA
INVESTMENT ACTIVITY IN 2018 Which sub-sector will your organisation invest in / fund / develop in 2018?
• Logistics / industrial and healthcare • Developers’ plan to invest more Results: • Despite unfavourable market / institutional sub-sectors will in the hotel / leisure comes at a sentiment towards the retail sub- garner more attention from Fund / time where the tourism sector in sector, all respondents intend to REIT Managers and Lenders while Malaysia remains strong. Hence, this deploy more capital into the sub- Developers remain on the sideline. sub-sector acts a logical avenue for sector as there are still opportunities Developers to diversify beyond the present. For example, embarking Analysis: weakening office and retail sub- on various asset enhancement • The retail and office sub-sectors are sectors, which used to be the highly initiatives (AEIs) will improve the expected to continue generating coveted sub-sectors for Developers. competitiveness of their retail the most interest despite their • Fund / REIT Managers plan to limit assets. unfavourable outlook. This is their exposure towards the hotel • Surprisingly, the office market, primarily due to the fact that these / leisure sub-sector as they prefer which is also viewed unfavourably, two sub-sectors will generally have to invest in the logistics / industrial is also expected to generate a lot higher development values. sub-sector due to higher yields and of attention from Developers and • Fund / REIT Managers’ intention brighter prospects supported by the Lenders, with the exception of Fund to limit themselves to the office rise in e-commerce. Besides that, / REIT Managers, who plan to limit sub-sector is mainly due to the the retail sub-sector is also better exposure in this sub-sector. oversupply situation that will liked by Fund / REIT Managers • As for the hotel / leisure sub- inevitably place downward pressure although they will be more selective sector, Lenders plan to retain a towards rental yields of office in the future. similar exposure in 2018, whereas properties. Developers are expected to deploy more capital into this sub-sector. However, Fund / REIT Managers will limit their exposure to this sub- sector in 2018.
74 75 FACTORS IMPACTING THE MARKET IN 2018 Do you find the following factors to be FAVOURABLE or UNFAVOURABLE towards the commercial property market in 2018?
• Logistics / industrial and healthcare • Developers’ plan to invest more Results: • Despite unfavourable market / institutional sub-sectors will in the hotel / leisure comes at a sentiment towards the retail sub- garner more attention from Fund / time where the tourism sector in sector, all respondents intend to REIT Managers and Lenders while Malaysia remains strong. Hence, this deploy more capital into the sub- Developers remain on the sideline. sub-sector acts a logical avenue for sector as there are still opportunities Developers to diversify beyond the present. For example, embarking Analysis: weakening office and retail sub- on various asset enhancement • The retail and office sub-sectors are sectors, which used to be the highly initiatives (AEIs) will improve the expected to continue generating coveted sub-sectors for Developers. competitiveness of their retail the most interest despite their • Fund / REIT Managers plan to limit assets. unfavourable outlook. This is their exposure towards the hotel • Surprisingly, the office market, primarily due to the fact that these / leisure sub-sector as they prefer which is also viewed unfavourably, two sub-sectors will generally have to invest in the logistics / industrial is also expected to generate a lot higher development values. sub-sector due to higher yields and of attention from Developers and • Fund / REIT Managers’ intention brighter prospects supported by the Lenders, with the exception of Fund to limit themselves to the office rise in e-commerce. Besides that, / REIT Managers, who plan to limit sub-sector is mainly due to the the retail sub-sector is also better exposure in this sub-sector. oversupply situation that will liked by Fund / REIT Managers • As for the hotel / leisure sub- inevitably place downward pressure although they will be more selective sector, Lenders plan to retain a towards rental yields of office in the future. similar exposure in 2018, whereas properties. Developers are expected to deploy more capital into this sub-sector. However, Fund / REIT Managers will limit their exposure to this sub- sector in 2018.
76 77 RESEARCH DATA
Sustained growth momentum for Asia-pacific prime office markets Positive outlook and evolving trends to continue in 2018
In 2017, solid economic performance In Taipei, with no new Grade-A The office market in Singapore in Asia-Pacific helped boost the prime office supply in Q4, rents increased showed continued signs of recovery office sector as more leasing activities slightly, along with the absorption of in Q4 2017, with active leasing activity were recorded in select markets. At existing stock. However, the vacancy gathering pace. A stronger performing the same time, the year has also seen rate is expected to increase along with economy did not help Kuala Lumpur continued growth in demand from the launch of new office towers, but office market as it continued to co-working and technology-related rents should remain stable. Shanghai’s struggle with an oversupply of new spaces. Looking into 2018, according to Grade-A office rents remained buildings and subdued leasing the International Monetary Fund, Asia’s stable, while the vacancy rates edged activities. Seoul office market suffered real GDP is projected to grow by 5.5%, downward due to increasing demand a 1.9% decline quarter-on-quarter but similar to the expected 5.6% growth from co-working companies for for the full 2017, the city still posted a in 2017, which is likely to maintain Grade-A space. Prime rents in Hong 4.3% increase. Prime vacancy rates in momentum in the prime office markets. Kong continued to rise in 2017, with Tokyo continued to slide for the third Year-on-year, Sydney recorded a Admiralty and Sheung Wan recording consecutive quarter, down to 1.6% as at 6.9% prime rental increase in 2017 – the largest growth among districts the end of last year. the highest in all Asia-Pacific markets on Hong Kong Island, up 11% and 9% Occupiers in Mumbai were tracked in this index. In the four major year-on-year respectively. Central’s impacted in 2017 on account of GST Australian cities, Brisbane was the rents are expected to rise between implementation and slowdown in only market with rising vacancy rates 2-5% this year with limited supply and consumer demand. As a result, the in Q4 2017. Melbourne experienced its sustained demand. Stock in Pazhou corporates focused their attention on firstever quarterly decrease since Q3 and International Finance City in getting themselves GST compliant 2012, albeit a meagre 0.2%. Rents in Guangzhou will increase rapidly in and held back on expansion plans. In Perth remained stable as vacancy rates 2018, which will push up the vacancy Bengaluru, the IT/ITeS, e-commerce had been recovering slowly over the rates and impose downward pressure and co-working sectors remained the past few quarters. on rents. important demand drivers in H2 2017. Manila’s office sector successfully Office project delays in NCR resulted in rose above market uncertainties in 2017 an all-time low in completions – only 4.1 as the business process outsourcing million sq ft of new completions hit the industry continued to drive the market in 2017, registering a striking performance of the local office sector. 65% decline from the peak in 2015. Despite a 3.8% quarteron-quarter increase, prime rents in Jakarta is expected to be tenant-favourable for at least the next 24 months. Amidst strong demand with rising rents and low vacancies, the outlook in Bangkok remained positive. Vacancy rates in Phnom Penh continued to drop as more multinational companies moved in to newly-completed prime office spaces.
76 77 RESEARCH DATA
78 PB SG PROPERTY NEWS
International News & Features
PB 79 9 conservation shop houses near Singapore River sold
11 properties sold under the hammer valued at $19.97 million
The value of homes sold in the auction has increased 31.2% in the first quarter of 2018 alone. In Q1 of 2017, 8 homes were sold under the hammer for $15.23 million. This year, the numbers rose by 31.2% with the total value of 11 homes sold within Q1 reaching $19.97 million. Property analysts are seeing this 9 conservation shop houses and a now include 40 conservation shop improvement as market resilience. commercial building near Singapore houses worth around $500 million The positive sentiments in the market River have just been sold to 8M Real and soon, also a 5-storey freehold are shown in the strong demand for Estate. A massive investment for the commercial building at 23 New property purchases, both residential local investment firm who bought Bridge road. and commercial. While some buyers the properties from Lee Brothers Conservation a big part to play may have been waiting for policy (Wee Kee). in the rejuvenation of Singapore changes, especially in stamp duty The selling entity is held by the River precinct. Singapore River One, rates, many may be tired of waiting and family of the late Lee Wee Nam, a a partnership of property owners are coming back into the fold. famous Teochew businessman who and business operators, runs the The Government’s announcement set up Four Seas Bank which was place management of the Singapore of stamp duty hikes in the last Budget later sold to OCBC Bank. River precinct. Efforts to rejuvenate may have given buyers a strong sign Massive sale of 2 property clusters the Singapore River precinct are that this policy is not likely to shift in District 1. These 10 properties ongoing. And this has, in turn, anytime soon. Lender sales were the are grouped in 2 clusters. The first boosted the leasing activity of shop most popular among bidders with 8 cluster consisting of 4 shop houses houses in Boat Quay. units sold at a total of $13.42 million. is at the corner of New Bridge Road 8M Real Estate intends to and Carpenter Street. And the other refurbish all 10 properties when the at Boat Quay/Circular Road. tenants’ leases come up for renewal. 8M Real Estate’s portfolio already The shop houses on New Bridge includes a cache of properties in Road are currently all fully occupied District 1 and 2. With this most but their leases will run out by the recent acquisition, their portfolio will end of 2018.
80 81 SG PROPERTY NEWS
Will ageing population affect HDB flat market in 10 years’ time?
The highest price for a residential Singapore’s ageing population In 10 years’ time, most young property sold in auction in Q1 was $2.9 is not a new issue. But as more couples who have moved out of million. This was for a residential unit of Singapore’s older generation their parental homes would have at Leighwoods on Mount Sinai Rise in who are living in HDB flats begin bought new flats directly from the prime district 10. The property was put to release their units in the resale government. This means they will up for auction by the owner. Next on market, will the resale HDB market be unable to inherit their parents’ the list was a commercial unit in 683 be affected? And if so, how? flats and will be forced to sell, in turn Hougang Avenue 8 auctioned off for Older generation putting resale leading to a supply glut. Not just $2.7 million. flats in market as they pass on or ageing population of humans but Older developments completed upgrade. Though mortality is not flats as well. The government will before 2000 seemed to be attracting everyone’s favourite topic, it has to have to start considering the issue more investor interest as they may be dealt with, and better earlier than rather seriously now as a decade be looking to follow suit in the later. As ageing HDB owners from will pass in the blink of an eye. And collective sale wave. Out of the 11 the baby boomer era pass on, there it is not only the human population units successfully auctioned off in Q1, might be an increase supply of HDB that is ageing, but also that of the 6 were completed before 2000. One flats flooding the market. housing population. Ageing HDB of the auctions which attracted the And as the government pushes flats to be specific. most media attention was that of a out more new BTO flats, young There may be a sudden spike of terrace house in Jalan Batai off Upper home buyers may be spoilt for flats with less than 59 years left of Thomson road, where the skeletal choice. Hence, resale flat prices may their lease. Usually flats begin to remains of a pair of elderly reclusive be pushed down as supply increases depreciate once they hit the big 40. sisters were found in 2016. The house and demand decreases. The previous occurrence of a was sold for $2.23 million at auction Currently, about 20,000 resale supply crunch happened in the earlier this year. flats exchange hands each year. The turn of the century, when the number has remained somewhat government restricted the building constant over the past 3 years. of new BTO flats. This led to many But some property analysts are buyers turning to the resale market, expecting up to 8,000 more resale hence pushing prices up quickly and flats to hit the market each year of rather hastily. the next decade. This is almost a 40% increase.
80 81 70% of units at The Tapestry launch sold
condominium in Tampines Street developed by Bellevue Properties, a 86 were sold during its launch last subsidiary of City Development. Prices weekend. Buyers snapped up 315 units of these units start from $596,000 for at an average price of $1,310 per sq ft. a one-bedroom unit and $796,000 It is this year’s first suburban for two-bedroom apartments. The 3-, condominium launch and in a popular 4- and 5-bedders were priced from mature estate no less. With 861 units $1.15 million, $1.65 million and $2 million over seven 15-storey blocks, The respectively. Tapestry is considered a premium Unit sizes range from 441 sq ft for a suburban development with over 50 one-bedroom unit to 1,765 sq ft for the facilities, including a 24-hour gym, largest 5-bedroom dual key unit with 100m infinity pool, and a childcare study room. Most of the buyers were The response to a new condominium centre. Singaporeans, approximately 76%, launch in Tampines was more than It also features smart home while the rest of the 24% were made up promising, re-energizing the local real attributes such as a smart voice of permanent residents and foreigners estate market considerably. 70% of the assistant that enables voice-control from China, India, Indonesia, Hong 450 units launched at The Tapestry of home devices. The property is Kong and Malaysia.
Future Bidadari town shaping up well
New HDB flats, an underground community club and a 2,200 sq 93 hectares, the Bidadari state air-conditioned bus interchange, m neighbourhood police centre. is part of Toa Payoh town. 3 new a neighbourhood police centre, Drawing from their Japanese roads have just partially opened a community club and a new background, Kajima Development in January this year to service the residential-cum-retail development. says that Japanese design concepts upcoming developments in the area. Last year, a joint venture between will be included in the residential The roads are Bidadari Park Drive, Singapore Press Holdings (SPH) component of The Woodleigh Alkaff Crescent and Woodleigh Link. and Japanese developer Kajima Residences. Residents of this new estate will Development successfully bid for There are visions of Bidadari also be able to enjoy the views and a commercial and residential site being the “next Bishan” as they greenery provided by the Bidadari under the Government Land Sales both have similar histories with Park, Alkaff Lake and Bidadari programme in the new Bidadari their former-cemetery status. The Heritage Walk. New HDB flats in the estate. This development will popularity and rise of Bishan is a estate have sold exceedingly well. include not only residential and positive template for what Bidadari The township is well on its way to retail units, but also a 6,000 sq m can potentially become. Spanning become “a community in a garden”.
82 83 SG PROPERTY NEWS
Singles attain more success at securing new BTO flats
Singles have been able to apply HDB ramping up the supply of for new HDB flats directly from the 2-room flats for elderly and singles. housing board since July 2013. 4 years As Singapore’s social fabric stretches down the road, have their housing out, the housing board is realising that needs been sufficiently met? more than just young couples and HDB making progress in fulfilling extended families require help with singles’ housing needs. High queue housing. Especially as property prices numbers were not uncommon when rise at an increasing pace. the new singles scheme commenced For the moment, they are supplying in 2013. Many singles balloted time about 4,000 new 2-room units per and again for a 2-room build-to-order year. 12,000 singles have since booked (BTO) flat but failed. new homes with HDB. They are also The rate of success has however eligible for the Additional Central been raised, as more than 3,300 Provident Fund (CPF) Housing Grant singles have received keys to their new which was revised up last year, and also BTO flat as of end-January 2018. the Special CPF Housing Grant. These 2-room flats which singles HDB will continue to monitor the are eligible for are in non-mature demand for these single-eligible estates. As of 2017, there are 5.9 single 2-room flats and endeavour to meet applicants vying for 1 unit. When the the housing needs of singles aged 35 scheme started in 2013, the odds were and above. Besides these 2-room flats, much higher with 57.5 applicants trying singles are also eligible to purchase to secure 1 unit. resale HDB flats from the open market.
82 83 Becoming a landlord could be the best decision you would ever make
Top tips for investing in rental properties by City Docklands Limited.
Just ask James Chappell. He’s not only the co-founder of our company – and thus one-half of the reason behind City Docklands’ success, but also comfortably retired at the age of 42 (in fact, he started his retirement at 38). His secret? Knowing the ins and outs of the London property market, and putting that knowledge to good use. Lucky for us, Chappell’s not keeping his secrets to himself. At City Docklands Limited, we want to help our buy-to-let (BTL) investors find the same success Chappell did.
It’s always the right time to invest in London London is not only the UK’s capital city; it’s also the financial capital of Europe. London is where the multinational companies are, and where every business wants to be. With the jobs sees growth a few percentage points created by these businesses, come higher than the national average. employees – working professionals and No matter the external factors that their families from all over the UK, and may come into play, whether they are in fact, all over the world. economic downturns or Brexit, there This constant influx of new residents are advantages that come from being keep demand and rental prices high, a capital city that can never be taken and void periods low. London has away. The connectivity, infrastructure, always had a healthy real estate and sheer choice available in London market, with home prices seeing a rise can never be matched by any UK city, of close to 80% in the last decade. The no matter how up-and-coming they city’s housing market almost always may claim to be.
84 85 INTERNATIONAL BRIEFS
Finding the right property purchase price of the property, but They may all be located within the also management fees for the building, boundaries of the same city, but the as well as maintenance and furnishing various neighbourhoods of London are costs. far from homogeneous. As a buy-to-let At first glance, bigger properties investor, the choice of location boils may seem like a tempting choice, down to your budget and the type of as they would give you more overall tenants you are looking to attract. monthly rent, but the purchase price If you have a bigger budget, Canary difference between a smaller and Wharf, London’s glittering CBD, bigger property may not translate into may be the neighbourhood for you. proportionate increases in monthly Here, your targets are likely to be rent, which means you could be better high-flying executives and successful off with a smaller property than a professionals, as well as corporate larger one. tenancies. For the more culturally- You should also factor in legislative inclined investor, the call of South Bank restrictions that may be specific to would be hard to resist, and your buy- different property types, such as to-let property would soon be home to the energy performance certificate creative professionals and a younger, for older homes. Older residences trendier crowd. cannot be let unless they meet energy Kensington, with its proximity to efficiency requirements. Fixing up old Hyde Park and many of London’s most electrical wiring would, of course, add prominent museums, is the perfect to costs and decrease yield. neighbourhood for those looking for a Whatever your budget and more family-friendly location. preferences, City Docklands Limited Once you’ve narrowed down your aims to provide the most impartial and preferred neighbourhood, it’s time professional advice to help you achieve to look at specific properties and do your investment goals. With more than the maths. Rental yield should be the 400 properties in our portfolio and our utmost priority for every BTL investor extensive understanding of the market and an accurate calculation of yield in London, we will definitely find you should take into account not just the the right property at the right price.
84 85 10 Unique HDB buildings in Singapore
Check out these ‘hidden treasures’ amidst slabs of concrete in the city.
Although a majority of Singaporeans 1. Blk 63-66 Yung Kuang Road reside in flats, we often fail to take notice The group of four diamond-shaped of the uniquely-designed HDBs in the blocks of HDB flats along Yung Kuang midst of our neighbourhoods. Instead Road in Taman Jurong offers a glimpse of looking up, we’re busy looking down into the lives of the city state’s poor. The at our phones, eyes fixated, fingers pride and joy of Jurong in the 70s, this constantly typing or scrolling — while diamond-shaped cluster of blocks once walking home on when using public towered over neighbouring flats at 21 transport. storeys high. Hence, missing these gorgeous To think this beauty was nearly everyday hidden gems. Instead, we demolished – we thank our lucky stars chase down shiny, newfangled (and that it never happened. Or else we would mainstream) architecture – from Marina never have come across photos on Bay Sands to the Art Science Museum, Instagram reflecting its clean, sharp lines. wanting to capture that perfect shot for Once a pinnacle of urban architecture our Instagram feeds. in Western Singapore, the diamond- Fret not, we’ve got all you hipsters shaped block of flats pales in comparison covered. Here are some our favourite, to its newer and cleaner neighbours. It quirky HDB block designs that you is now occupied by foreigners and low- should totally check out. income Singaporean families under the HDB’s Interim Rental Housing Scheme.
86 87 SG FEATURE
2. Blk 78 Tiong Bahru Older HDB flats usually have longer east or west. The was meant to ensure Tiong Bahru is well known as the go-to corridors than the new generation flats, the flat stays cool throughout the day. place for weekend brunches. Yet, few but none can beat Block 34 in Whampoa Cool huh? Today, these flats are still have gone beyond the trendy cafes to West. At about 320 metres long, this highly sought after by prospective buyers uncover the hidden gems in Tiong Bahru. block boasts the longest corridor in due to its unique design. Stepping onto Yong Siak Street (just a Singapore. stone’s throw away from Tiong Bahru To put things into perspective, that’s 6. Blk 53 Toa Payoh MRT Station) will transport you to an the length of 160 doors linked together Throughout 57 years, over a million flats entirely different era. You’ll realise the horizontally. If we were kids living in this were built by Singapore’s Housing & buildings and residences look markedly block, we’d already be riding our scooters Development Board – just imagine how different from those found elsewhere in from one end to the other! drastically Singapore’s landscape has Singapore. Also, a long block would mean more changed. But of all the beautiful homes The horseshoe block stands as the room for shops on the ground floor. The in Singapore, this particular block (Toa only public housing building with an air residents here have a wide range of food Payoh’s Block 53) was graced by a Queen raid shelter built-in. This air raid shelter options, as tucked under the block is a — we kid you not. is also the last remaining pre-war civilian slew of eateries, from cafes to Zi Char Its unmistakable shape won it the shelter that still exists today. In case you’re restaurants, and of course, the famous nickname “Y-Shaped Block” amongst wondering – yes, it was used in WWII chicken rice restaurant, Boon Tong Kee. residents. Perched on the roof of one of during the Japanese air raids. Singapore’s first HDB flats, is a viewing 5. Blk 259 Ang Mo Kio gallery. The gallery was originally 3. Selegie House created with the intention of giving Selegie House is a building complex that foreign dignitaries a sweeping view of consists of one block of 20-storey flats Singapore’s public housing programme. and two blocks of 10-storey flats. These blocks used to be linked by four rows of 7. Blk 661 – 663 Buffalo Road 2-storey blocks which had since been As part of HDB’s lift upgrading demolished and replaced with linkways. programme, the cluster of blocks near At the time of its completion in 1963, Tekka Food Centre was selected for pilot the 60m tall 20-storey block was the testing the installation of bubble lifts in tallest mixed development building in public housing. Bubble lifts were once Singapore comprising both residential Block 259 is Singapore’s only unique only found in shopping malls and hotels, units and commercial shops. The block of circular flats and is a distinctive and now that’s no longer the case. complex’s completion represented HDB’s landmark in Ang Mo Kio. Overlooking As the lift ascends, you can gaze first foray into the construction of high- Bishan Park and Pierce Reservoir, the out the window to a flurry of human rise housing to accommodate a large block was designed by HDB and is activity down below. That can be quite number of residents in modern housing located along Ang Mo Kio Avenue 2. therapeutic for residents returning home conditions during the post-war period. It was completed in 1981, intended to from a long day’s work. And certainly a build seven distinctive blocks to foster blessing for those who are claustrophobic 4. Blk 34 Whampoa West a sense of identity in each town and to – especially if the lift breaks down. establish a unique form of architecture. The point block consists of 96 five-room flats, with four units per floor. The design is unique in a sense that it is constructed using solid bricks instead of the usual hollow bricks, and the bedrooms face either North or South, while the living rooms and kitchens face
86 87 SG FEATURE
8. Blk 441A and 441B Clementi The name Kampong Silat essentially When hunger pangs hit at midnight, you refers to a village (Kampong) by the can just grab some cup noodles from sea (silat) as prior to land reclamation, the supermarket downstairs. Should one you could look out at the sea from the oversleep, making it to work on time is still road. The name Kampong came about possible with the convenience of the MRT as the estate was built to house many station at their doorstep. families who moved from the Kampongs And when the weather is unbearably of the same name. Consisting of 15 hot during the haze season, you can save flats originally, these simple yet elegant on electric bills by cooling off in the air- buildings were well considered in their conditioned mall downstairs, instead of proportions and visual balance gave the turning on the ones at home throughout undulating terrain. As of 6 June 2014, the day. the five remaining flats of blocks 18-23 That’s the kind of convenience that the have been gazetted under the URA residents here live with, being the first Masterplan. HDB homeowners to enjoy the luxury of having the MRT just a stone’s throw 10. HDB Terrace Flats away, and The Clementi Mall right at their Double storeys, front porches and a doorstep. We sure hope there are plans sloped roof; all features of a typical for more of such flats to be constructed terrace home, except that these – and you definitely have to call dibs on a actually have HDB block numbers on unit if that ever happens. them! Developed by SIT (Singapore Improvement Trust, a predecessor of HDB), these landed-looking spaces were constructed around the Queenstown, Whampoa and Jalan Bahagia areas in the 1960s. Perhaps realising that it wouldn’t be feasible with Singapore’s limited land constraints, HDB hasn’t been building anymore of these since. So, snagging one is pretty much hitting the jackpot – 9. Kampong Silat Estate besides a limited supply, a HDB terrace Nestled along Silat Avenue sits the five is significantly cheaper than similar remaining four-storey blocks of the landed properties of the same size. Think former Kampong Silat Estate. Vacated anywhere between $600,000 to slightly since 2012 as part of the SRS project, less than a million. its inconspicuous appearance hides an Pretty much a steal eh? We think so interesting architectural and social history. too! Built between 1948-1952, these flats are Now that you’ve been let in on these the second oldest public housing estate unique HDBs, it’s time to take a mini road after the more illustrious area that is trip around Singapore and uncover these Kampong Bahru (1936-1954). hidden gems for yourselves!
88 PB
Interior ideas to get more Zen in your life
Craving a sense of calm in your home? Here are four tips to create a harmonious space.
As our lives become even more Calming colours palette makes the connection to saturated with media and technology This year we’ll see nature continue to the surrounding natural landscape and the hustle and bustle becomes influence our interior design palette. and evokes the feeling of calm and often all-consuming, our home Navy blue and pastels will become less tranquility. interiors in 2017 can offer a respite popular and in their place we’ll see the Natural stone is a popular choice from the craziness. return of dark green. in kitchens, bathrooms and furniture From nature-inspired artworks to Green is a versatile addition to an pieces and there are some stunning textured, earthy materials, let these interior scheme as it can be elegantly green stones currently available. ideas inspire a sense of calm in your balanced against brass, tan leathers, The organic nature of the grain home design this year. natural timbers and stones. connects to the fluidity of fabrics we Designers tend to aim for timeless are now seeing, as opposed to the interior design that uses a language of trends of geometric patterning over natural materials and monochromatic the past few years. hues. The injection of green into this
A green couch set against natural timber works well. Picture: Getty Images
92 93 CONSUMER HACKS
Light up your life Light is the perfect tool to easily control the mood of a space. A variety of light sources will help you set the scene and allow you to make a space multi-functional. Through a combination of overhead lighting, recessed strip lighting, wall lights and loose lamp light you can instantly manipulate the mood by either creating drama or evoking calm, similar to what hotels do so well.
A green couch set against natural timber works well. Picture: Getty Images
Chilled-out art Still-life landscapes bring the tranquility of the outside in and provide an escape from our busy lives. Melbourne photographer Kate Ballis has a beautiful series of prints in her Velvet Iceland series – the depth of field Kate has captured in her pieces Light can help accentuate textured materials like the natural stone in this bathroom. draws you into the landscape and Picture: Getty Images provides the perfect sense of escapism. Kate’s partner Tom Blachford also has a series of Palm Spring prints titled Materials to create Zen Midnight Modern. This series plays with After a period of hiatus, dark timbers light and shadow in capturing classic and controlled terracotta tones are mid-century architecture among the making a comeback while moody lush Palm Spring landscape. timbers and earthy materials will replace the Scandinavian trend of light oak and carrara marble. Natural stone is still popular, but in 2017 we’ll see a move towards darker stones like onyx, textured black granite and forest green marbles, providing a sense of drama and opulence. A naturally textured material is instantly appealing due to its warmth and tactility. By using a carefully considered combination of natural and artificial light you can highlight the three- dimensional aspect of a natural stone A variety of lighting creates calm in this Scandi-style living room. slab and create a sense of calm in a Picture: Getty Images home environment.
This article was originally published as Interior ideas to get more Zen in your life by realestate.com.au and is written by Michael Drescher.
92 93 Interior designer myths that almost had you fooled
Plagued by stereotypes and misconceptions, interior designers don’t have it easy. From being stuck up, exorbitant, and unnecessary, they’ve heard it all.
We help debunk these myths and tell you exactly what interior designers can do for your space.
1. Not just Interior Decorators Many often think an interior designer’s job is just to decorate a space to make it aesthetically pleasing. Wrong. Interior decorators are those who do the job of style consultants and make your bare home pleasing to the eye while interior designers give your space life. Often trained with architectural knowledge and fundamental information on construction and style, designers are the ones who help turn your dream home into reality. Interior designers can help increase the market rate of your home as the aesthetics of a space will help bring traffic to your property, if and when you’re looking to Source: Artsgrensboro.org sell. Their knowledge helps them have solid ideas of space and purpose while PS: You probably bought your home or unit based on keeping to trends and pleasing visuals. a show house designed by an interior designer.
94 95 CONSUMER HACKS
2. Contractors can do what interior 4. Their way or the highway designers do Afraid you will lose your personal style? Contractors and interior designers Interior Designers are stereotyped as don’t have the same job scope. style sticklers. Although some of them Contractors build or remodel the might be, many are driven to help you physical aspects of your space based create your own dream space. Atap. on the design and advice provided by co helps you decide on which designer interior designers. best fits your personal preferences The latter provides plans and as you can view an array of portfolios designs that have been specifically and design ideas before making your curated to the lifestyle, functionality decision. The site also allows you to and budget of the property. It’s always pick your budget and request for best to keep these two jobs separate, free quotes from preferred interior allocating better focus to design and designers, simplifying the process construction. while staying true to your aesthetic!
3. It’s too expensive 5. DIY is doable
Source: Artsgrensboro.org
False! While hiring interior designers If you’re creative and have an eye for is an added cost, you save money in design, there’s no harm in pitching the long run. Avoid design mistakes, your ideas and trying to materialise unnecessary costly materials, and them but many things can go wrong. wasted time. Things like installing your own tiles The interior designer acts as a and windows can be tricky and time project manager that tunes the finer consuming. If done wrong, they could details, making sure your home be hazardous; imagine chipped tiles is impeccably built while sticking and faulty windows. to your budget. IDs work closely Vendors and distributors often offer with contractors to make sure the cheaper rates to interior designers who renovation goes smoothly, that are repeat customers, so IDs can save timelines are met, and that vendors you so much hassle and money! We (e.g. tile providers) deliver the suggest you treat your new project as necessary materials that fulfil quality a collaboration instead of a one man standards. show.
This article was originally published as Interior designer myths that almost had you fooled by atap.co and is written by Lydia Lohshini.
94 95 A simpler way to find your property Download the iProperty Malaysia app for FREE now!