Editor CEO’s Foreword Roshan Kaur Sandhu Writer Reena Kaur Bhatt Head of Creatives Angeline Lim Senior Graphic Designers Jason Kwong Wing Wong Junior Graphic Designer Rechean Soong Ad Operations Executive Nur Alia Ahamd Tamezi Intumathy Nadarajah CEO iProperty.com Malaysia & Singapore Haresh Khoobchandani Group Finance Director Kenneth A Kent General Manager (Agent Sales) Leon Kong General Manager (Data Services) Premendran Pathmanathan Chief Information Officer Harmit Singh Head of iProperty TV Marching On Into March Jonathan Ong Greetings! Head of Marketing & Content, iProperty.com Singapore Leslie Lin A month has passed since I first took over the reins as Chief Executive Officer of iProperty.com Malaysia and Singapore. Over the last month, I took the opportunity to hear from our customers, to learn more about the market and to work alongside our amazing team to see how we can change the way the world experiences property. iProperty.com Malaysia Sdn Bhd (600850-K) Suite 11.01, Level 11 Menara IGB Mid Valley City, Lingkaran Syed Putra This drive will be fueled by our people, passion, purpose and innovation 59200 Kuala Lumpur, Malaysia and on pages 26 - 27, you will be able to read a little more about me. Phone: (603) 2264 6888 Fax: (603) 2264 6900 Aside from that, as we continue to harness the power of data, we have Sales enquiries: [email protected] evaluated the data and studied whether the various cooling measures Editorial matters: [email protected] that were introduced since 2007 have impacted the property market. General enquiries: [email protected] More on this on pages 87 - 89. Subscription: [email protected] International Property: [email protected] We also share more about our recent iProperty.com Home & Property iProperty.com Malaysia Sdn Bhd (Johor) Investment Fair that was held at the Mid Valley Exhibition Centre last A-2-7, Pusat Komercial Bayu Tasek month. More details on page 10 - 13. Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor We hope you enjoy the read! We will continue to share great stories and iProperty.com Malaysia Sdn Bhd (Penang) be your go-to source of news and insights on the property market. Bay Avenue D-25-3 Lorong Bayan Indah 2 Happy Reading! Bayan Lepas, 11900 Penang iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd, Suite 11.01, Level 11 Menara IGB, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia. 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 and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from 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 their personal opinions and do not necessarily reflect iProperty.com’s views. Haresh Khoobchandani Unless otherwise noted, all artwork and ad designs printed in iProperty. com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, CEO and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. iProperty.com Malaysia & Singapore CONTENTS March 2017 2 Events Points of Interest CEO’s foreword 10 30 6 Great success at the Call for safety culture in Home & Property construction Editor’s note/Happenings Investment Fair 2017 30 7 14 Happenings Malaysia Green Building Pick of the Month: Next Chapter Confederation: An overview of a lead green for Penang Property Market building NGO 34 Penang Transport Master Plan: A new lease of life Research Data Points of Interest 38 53 Penang: All eyes on Home loans: Can we mainland homes balance between 16 financing & speculation? 56 Cover Story 44 The effects of Trump’s 16 CBRE I WTW Penang policies property market Kota Seriemas - The art of living well overview Featured Property One-On-One 48 Industry Update Knight Frank: Penang with Haresh 58 20 real estate highlights Khoobchandani 2H2016 Lavile KL - The art of Policy & infrastructure urban living overview In 2016 26 51 24 Haresh: Riding the 61 digital wave Core SOHO Suites – A Sungai Petani: State of the housing promising investment Penangites’ market: The best time to opportunity new found haven buy a house (Part 2) CONTENTS March 2017 International Points of Interest Regulars Consumer Section Awareness 90 98 66 104 Should I use House Buyers’ International News “compression method” Association Splashback & tile ideas Happenings to finance my property Defects – A common investments? for the kitchen or happening bathroom 69 91 102 International features – 5 things you never knew Dato’ Joey Yap Briefs could hurt your credit The boundaries of bliss The Redbrick start-of-year score party 104 72 106 Singapore news Happenings 9 Damage free ways to add a personal touch to 92 a rental Research Data Agent’s Views 75 92 106 Perth: Knight Frank HSR Realtors: Promising honour, service & results Residential Insight Q4 2016 108 A renter’s guide: What 83 to look for in a rental property The rise of Chinese developers in Australia (Market insight January 2017) Agent’s Advice 110 94 85 Agency Directory What you need to know about exclusive agents Knight Frank: London real estate has the ability to flourish post Brexit 95 118 Classifieds Superstars of the month 87 Did market interventions help reduce residential 97 128 property prices from rising further? Agent spotlights of the month Subscription EDITOR’S NOTE It is with great pleasure that we welcome Haresh Viks Properties also shares with us on how Sungai Khoobchandani as the CEO of iProperty.com Petani’s landed homes are capitalising on having Malaysia and Singapore. His appointment is a clear Penang Island as a close neighbour. reflection of the company’s state - ready to take on the future and overcome the many challenges Buying a home is a tedious process. But what can ahead. He brings a great mix of leadership, you do if you discover a defect in the home after inspiration, operational experience, technical completing the transaction? The House Buyers breadth, and passion for customer care. Association addresses this issue on page 98. We feature many interesting articles in this issue In our international section, Knight Frank Research as Penang is the Pick of the Month. Reena Kaur report reveals that in the past 3 years, Chinese explores the price and rental trends for both terrace developers and investors homes and apartments in Penang in the recent two account for over 25% of years and caught up with industry expert, Kaygarn disclosed total sales each year Tan to find out what aspiring homebuyers and with 2016 recording a share of property investors in Penang should take note of. sales as high as 38%. More on page 83. Senior real estate negotiator who specializes in properties in Kedah, Al Amin Zulkernain from Till next month! HAPPENINGS Sunway Property ramps up landbanking activities Master Community Developer, Sunway Property, achieved footfall of more than a million to date, is looking forward to driving sustainable growth and brings a unique shopping experience for the within its operations this year, by ramping up population base of over 800,000 in Cheras. The its land banking activities focusing on strategic development will be enhanced by the completion lands suitable for standalone or transit-oriented of a four-star hotel, a medical centre and two development and innovating within its operations. corporate office towers, all of which are already The developer recently added 8.45 acres of prime under construction. land located along Jalan Peel to its portfolio, bringing the developer’s current land bank to “We want to ensure that when we build, there’s approximately 3,301 acres; located in Klang Valley, also a conducive ecosystem that supports our Johor, Penang, Singapore and China. The total community’s growth. In addition to owning a estimated GDV is RM50.5 billion. property, we also want to assure liveability, hence community needs such as road accessibility, With an estimated GDV of RM2 billion, more social living, access to healthcare and educational than 70% of Sunway Velocity TWO will comprise amenities are always in the consideration whenever residential units, complementing the current Sunway plans for a launch,” said MD of Sunway Sunway Velocity which consists of 75% commercial Berhad’s Property Development Division, Malaysia units. It will be developed over a 10-year period. The & Singapore, Sarena Cheah. developer plans to build linkways between Sunway Velocity and Sunway Velocity TWO to connect business owners and residents within the two integrated developments. This is in addition to the strategic location and future connections of both developments to Cochrane MRT station as well as Maluri MRT and LRT interchange. Attesting to the viability of being located in a strategic integrated development, the mall has 6 HAPPENINGS IJM Land’s Bandar Rimbayu celebrates CNY with Big Fun Day Embracing the spirit of Chinese New Year, Bandar Prosperity’ going on a walkabout at the venue. The Rimbayu’s Big Fun Day brought family and friends day was made even more exciting with big fortune together-gather, at their green and expansive lucky draws for Bandar Rimbayu property owners. gallery showroom, The ARC. The fun filled day with a fiesta atmosphere is the first of Bandar Rimbayu’s “Big Fun Day has always been a day that creates exciting events for 2017. Open to the public and opportunities to bond and strengthen relationships home owners of Bandar Rimbayu’s homes, the event between families, neighbours and the larger attracted a large crowd of children, young adults community.