LISTINGS . NEW LAUNCHES . NEWS . DATA . ANALYTICS A PULLOUT EVERY FRIDAY WITH Th eEdgeProperty.comPP 9974/08/2013 (032820) FRIDAY, APRIL 22, 2016 . ISSUE 2152/2016 ONLINE + OFFLINE

Where do I get a copy of this weekly pullout? 3 COMMENTARY

Half of overhang 5 NEWS housing units are JPPH aims to Go to priced at RM300,000 introduce rental data TheEdgeProperty.com and below by October this year to download for free

4 NEWS tep8 FEATURE UEM Sunrise to unveil Property market dips Melia Residences in 2015, expected to this weekend stabilise

GRAPHICS: NURUL AIDA MOHD NOOR | TheEdgeProperty.com

Can you get a penthouse Live the in the Klang Valley for RM1 million or less? Check out the seven penthouses in that price high life range on Pages 6 & 7. for under RM1 million TEP 2 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

LRT Latitud 8 at to be unveiled Johawaki extension on track to by year-end Development to start operations end- Crest Builder Holdings Bhd has facilities, offi ce space, small offi ce/ launch fi nal phase of June enterd into a joint venture (JV) fl exible offi ce (SoFo), small offi ce/ Avanti Residences Th e construction of the new LRT with Prasarana Bhd and home offi ce (SoHo) and duplexes, Johawaki Development Sdn Bhd Kelana Jaya Line extension pro- Detik Utuh Sdn Bhd to develop as well as a rooftop lounge and bar. is set to launch the third and fi nal ject (LEP) is currently progress- Latitud 8, a 2.72-acre mixed-com- “We plan to soft launch the res- phase of its Avanti Residences in ing to the fi nal stage, and the line mercial development which has idential units in Singapore and Saujana Permai U17, Shah Alam is on track to begin operations a total gross development value Hong Kong as well as Malaysia over two days starting May 7. at end-June this year, said infra- (GDV) of RM1.1 billion. by December this year as we ex- “Th e fi nal phase [with 38 units structure operator Prasarana Rail Crest Builder group managing pect the market sentiment to im- of semi-detached houses] of the and Infrastructure Projects Sdn director Eric Yong said the 43-sto- prove in the third quarter. The development will be the bigger Bhd (Praise) CEO Datuk Zohari rey single block mixed commercial estimated selling price averages units, with built-ups from 3,090 sq Sulaiman last week. development, which is located RM1,300 psf,” he added during ft onwards. Th e gross development The Edge Property Kelana Jaya LEP covers a dis- at the Dang Wangi LRT station the press conference after the value (GDV) of the fi nal phase is Malaysia tance of 17.4km, starting from at Jalan Ampang, , ground-breaking ceremony. around RM40 million to RM50 Kelana Jaya station and passing will feature a lifestyle retail podi- The development started its million,” said Johawaki Develop- through 12 new stations, includ- um with business and convention construction last month and it is ment director Mohamad Akmal ing Ara Damansara, Subang Jaya expected to be com- Datuk Johari at a media briefi ng and USJ, before ending at Putra pleted by 2020. Th is last week. Heights, which is an integrated project will also be Th e fi rst and second phases of station with the extended Am- the fi rst transit-ori- the project comprising 22 and 24 pang Line. ented development units respectively were launched Th e new Kelana Jaya extend- (TOD) in Malaysia, in September last year. Each semi- The Edge Communications Sdn Bhd ed line is connected to the KTM which is construct- dee unit has six bedrooms and fi ve (266980-X) Level 3, Menara KLK, No 1 Jalan PJU 7/6, Komuter network at Subang Jaya ed directly above an bathrooms. Mutiara Damansara, 47810 Petaling Jaya, station and the Bus Rapid Transit active and operating , Malaysia – Sunway Line at USJ 7 station. LRT station. With the extended network, the Kelana Jaya LRT alignment will Publisher and Group CEO Ho Kay Tat run for a total length of 46.4km, EDITORIAL covering key commercial and Senior Managing Editor Azam Aris highly-populated residential areas WCT Holdings to launch fi rst phase of OUG luxury condos in 2Q2016 CORPORATE like Petaling Jaya, Bangsar, Gom- WCT Holdings Bhd is set to aging director Taing Kim Hwa last do units. Managing Director Au Foong Yee bak, Taman Melati, Setiawangsa launch the fi rst phase of luxury week. “It is currently open for regis- Deputy Managing Director Lim Shiew Yuin and Kuala Lumpur’s central busi- condominium development Th e The Waltz Residences com- tration and we will announce the ness district. Waltz Residences at Paradigm prises two tower blocks and 419 other details of the project such Garden City, Overseas Union units. Taing, however, declined as the built-ups and prices once TheEdgeProperty.com Garden (OUG), Kuala Lumpur in to provide further details such as we are ready,” he told Th eEdge- Managing Director Au Foong Yee trending 2Q2016, said WCT Holdings man- built-ups and prices of the con- Property.com. Editor Lam Jian Wyn Contributing Editor Sharon Kam Assistant Editor James Chong now Senior Copy Editor Shanthi Murugiah Writers Rachel Chew, Tan Ai Leng If you have any real estate-related events, email us at propertyeditor@ and Natalie Khoo LAUNCHES + EVENTS bizedge.com. Events listed here will also appear on TheEdgeProperty.com. Art Director Sharon Khoh Design Team Nik Edra, Nurul Aida Homedec Sabah 2016 International Real Estate Power Property EcoWorld’s Batu Kawan Mohd Noor Date: April 22 to 24 (Fri to Sun) Research Symposium Investment Talk Insight Talk MARKETING & ADVERTISING Time: 11am to 9pm (IRERS 2016) Date: April 23 and 24 Date: April 24 (Sun) Account Director Sharon Chew (012) 316 5628 Venue: 1 Borneo Exhibition Date: April 26 to 28 (Sat and Sun) Time: 2pm Hall, S-701, Jalan Sulaman, (Tues to Thurs) Time: 11am to 6pm Venue: EcoWorld Gallery Account Manager 88400 Kota Kinabalu, Sabah Time: 2pm to 10pm (Tues); Venue: D’sara Sentral @ Eco Meadows, Lot 740, Jayremy Sim (011) 1669 6039 Contact: (03) 7982 4668 9am to 5pm (Wed and Thurs) Sales Gallery, Jalan Sungai Jalan Paboi, Mukim 14, 14100 Email: [email protected] Organiser: CIS Network Sdn Bhd Venue: Putra World Trade Centre Buloh, Selangor Simpang Ampat, Penang NEGOTIATOR ADVISORY SERVICE Homedec Kota Kinabalu (PWTC), 41, Jalan Tun Ismail, Contact: (03) 9221 6888 Contact: (04) 510 2255 For enquiries GL: (03) 7721 8175/ 8172 showcases renovation and 50480 Kuala Lumpur, Federal Organiser: Mah Sing Group Organiser: Eco World Email: propertysupport@ home decoration products Territory Kuala Lumpur Ho Chin Soon and Ishmael Ho, Development Group Bhd bizedge.com like bed and living, windows, Contact: (03) 7803 6006 chairman and CEO respectively, The project architect Datuk Jong Senior Manager Elizabeth Lay door and roofi ng, stone and Organiser: National Institute of Ho Chin Soon Research will East Full of East Design Architect Senior Associate Stannly Tan Associate Karen Wong tiles, decoration and lighting, of Valuation (INSPEN) be sharing their insights in two will be sharing his view on the Associate Kriss Tan kitchen cabinet and wardrobe, IRERS 2016 provides a platform talks - “The future trend and Batu Kawan property market. landscape and ID clinic, home for industry experts, practitioners, changing dynamic of real estate The marketing representatives of appliances and furniture. policymakers, academics and in Greater Klang Valley” and EcoWorld will also be introducing institutions to discuss topics “Sungai Buloh, transformed the company’s EcoWorld For New Launches/Events/Press Releases/ Malaysia International Home News Tips and ideas on the changing faces by two confi rmed MRT lines”. HomePlus package to visitors. Tel: 03-7721 8211 Fax: 03-7721 8038 Renovation Expo of today’s real estate market. Participants need to register Email: [email protected] Date: April 22 to 24 (Fri to Sun) Participants will need to register online to get free admission Mah Sing Hawaiian-themed Time: 11am to 9pm online and pay a registration fee. tickets to this investment talk. Food Trucks Fest The Edge Communications Sdn Bhd Venue: Mid Valley Exhibition Date: April 23 (Sat) Centre, Level 31, The Gardens Time: 3pm to 8pm ADVERTISING & MARKETING To advertise contact South Tower, Mid Valley Venue: M Residence Clubhouse, GL: (03) 7721 8000 City, Lingkaran Syed Putra, Brand New Launch of Manchester Jalan Bandar Tasik Puteri, Fax: (03) 7721 8288 59200 Kuala Lumpur City Centre Residential Project 48020 Rawang, Selangor Chief Marketing Offi cer Sharon Teh (012) 313 9056 Contact: (03) 9056 3323 Date: April 23 and 24 (Sat and Sun) Contact: (03) 6092 8188 General Manager, Digital Media Organiser: EG Groups Time: 10am to 7pm Organiser: Mah Sing Group Bhd Kingston Low (012) 278 5540 Holding Sdn Bhd Venue: Irving Suite, Level 5, The Food Trucks Fest will feature 10 Senior Sales Managers Fong Lai Kuan (012) 386 2831 Malaysia International E&O Hotel, 10, Lebuh Farquhar, food trucks off ering various types Peter Hoe (019) 221 5351 Home Renovation Expo 10200 George Town, Penang, of food and beverages. Besides a Gregory Thu (012) 376 0614 will be showcasing a wide and Davidson Room 1&2, Jalan wide selection of food, there will Creative Marketing Chris Wong (016) 687 6577 variety of products of home Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur. also be exciting games for visitors Head of Marketing Support & Ad Traffi c furnishings and home textiles, Contact: (016) 228 8691 with mystery prizes to be won. Lorraine Chan (03) 7721 8001 providing an insight to Organiser: Cornerstone International Properties Email: [email protected] interior design, renovation, Cornerstone International Properties together with its UK decoration and refurbishing developer will be unveiling Affi nity Living Riverside - a brand new TheEdgeProperty.com is published as well as landscape. purpose-built residential property in the heart of Manchester with and distributed with The Edge 2-bedroom units, with selling prices starting from £280,000. Financial Daily every Friday. For more property data, listings and news, go to TheEdgeProperty.com. FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY TEP 3 PROPERTY CHAT Half of overhang housing units are priced at RM300,000 and below

SOURCE: NAPIC Malaysian residential property overhang as at 2015 Land is a state matter. Th e Bu- BY AU FOONG YEE miputera quota varies not just from Property price range Overhang units (value) state to state, but also between zones RM50,000 or less 393 (RM14.93 mil) in a state. For instance, in Melaka, the city centre has a quota of 40% eputy Finance Minister RM50,001-RM100,000 1,354 (RM109.2 mil) while outside the city, it is 60%. Datuk Chua Tee Yong RM100,001-RM150,000 655 (RM86.13 mil) In Selangor, the quota can go up expects the Malaysian to as high as 70% while in Johor, it housing property mar- RM150,001-RM200,000 901 (RM56.45 mil) is 40%. In KL, it is 30%. ket to further soften RM200,001-RM250,000 1,013 (RM239.36 mil) Bumiputera units that are un- this year. He sees de- sold can be released from the quo- Dvelopers focusing on the more af- RM250,001-RM300,000 860 (RM394.53 mil) ta – meaning they can be sold to fordably-priced homes. non-Bumiputeras – but the process RM300,001-RM400,000 1,246 (RM451.14 mil) He is correct on both counts. varies from state to state, entailing Speaking to reporters after RM400,001-RM500,000 860 (RM394.53 mil) diff ering durations and payments launching the National Property to the respective states. Information Centre’s (Napic) 2015 RM500,001-RM1 mil 2,190 (RM1.52 bil) Clearly, the implementation of Property Market Report on April 19, Over RM1 mil 1,387 (RM2.55 bil) a structured and transparent re- the deputy minister said the unsold lease mechanism for all Bumiput- housing stock – and by extension era units would help reduce the the country’s property overhang – ing overhang units totalled 11,316 2015. On the fl ipside, houses that are Poor take-ups for the low- and overhang of the upper-mid and could be reduced with fewer high- and these were worth RM5.9 billion, priced at RM300,000 or less made low-medium cost homes are noth- high-end homes. end homes launches. up by 16.3% in volume and 56% in up half of the overhang numbers. ing new. Th ey have been subjects There must be a will to clear Property overhang units must not value from those in 2014. In fact, homes priced at RM100,000 of debate and discussion in the the overhang units – and the an- be confused with unsold stock. Th e It would be simplistic to assume and below accounted for about 15% property fraternity for years. swer does not lie with just reduc- government has defi ned overhang that the higher-end homes account of the overhang. (Refer to chart). Issues hampering sales would ing supply. units as properties that are com- for most of the country’s overhang Of the total 3,577 overhang units include that of inconvenient loca- pleted and issued with Certifi cates units. Or that people are no longer priced at RM500,000 and above, tion, lack of accessibility and un- Au Foong Yee is the managing di- of Fitness for Occupation (CFO) or interested in investing in more ex- Johor housed 930 units, Penang suitable design of the product. Th e rector of The Edge Communications Temporary Certifi cates of Fitness pensive homes. (705), Selangor (512) and Kuala inability to secure end-fi nancing is and The Edge Property. She was for Occupation (TCFO), but remain Consider this – residential prop- Lumpur (427). another main problem. formerly the executive editor of unsold despite having been put on erty priced at RM500,000 and more Why are the cheaper homes not As for the overhang of high- Property and Retailing at The Edge the market for at least nine months. accounted for less than one third of selling? One would have expected er-priced homes, developers have Malaysia. She can be contacted at As at end-2015, Malaysia’s hous- the housing property overhang in these to be snapped up, right? pointed to the Bumiputera quota. [email protected]

NEWS

The Parque Residences fi rst phase 30% sold before offi cial launch

BY TAN AI LENG here as their retirement home, as Th e Par- An artist’s que Residences has complete amenities, KOTA KEMUNING: Th e fi rst phase of Th e impression of beautiful greenery and a safe environment. Parque Residences in Eco Sanctuary has The Parque Most of them are currently staying in landed seen 30% of its condominium units sold Residences. homes and want to downsize their hous- since the project opened for sale early this es as their children have left home,” she year, said Eco World Development Group explained. Bhd (EcoWorld) general manager Ho Kwee She said there are also some young buy- Hong. ers who cannot aff ord the landed homes in She told Th eEdgeProperty.com that sales Eco Sanctuary and have chosen to start with were moving slowly but steadily and the high-rise units in the township before up- company plans to offi cially launch phases grading their property in the future. one and two, either at the end of this year Th e Parque Residences is also the fi rst or early next year. high-rise residential development in Eco “Th e Parque Residences consists of six 20 Sanctuary, and is expected to be complet- to 25-storey residential blocks which house ed by end-2018. 1,000 high-rise units. Th e fi rst phase of three Ho added that the residents of Eco Sanc- blocks comprises 597 units with built-up tuary will enjoy greater accessibility follow- sizes ranging from 516 sq ft to 1,388 sq ft. KENNY YAP / TheEdgeProperty.com ing the completion of the fi rst stretch of the Th e selling price starts from RM400,000 or and community garden. West Coast Expressway – linking Banting averages RM700 psf,” she said. Th ere will also be a shuttle bus service and Port Klang to Taiping – which is slated The 27-acre development is the third connecting Th e Parque Residences to the to be completed by end-2018 or early 2019. phase of the 308-acre Eco Sanctuary town- commercial hub – Eco Sanctuary City – Th is highway will be connected to the ship at the south of Kota Kemuning. which is situated in the township. Kuala Lumpur-Kuala Selangor Expressway Th e township development consists of “Besides that, there will be a space allo- (LATAR Expressway) which enables users landed homes, condominiums, wellness cated for spa services and we are currently to bypass the heavy traffi c to Petaling Jaya. apartments, shop offi ces, a strip mall, offi ce looking for a spa operator to serve the res- Ho: The full Besides this, Eco Sanctuary is connected towers, a hotel and a convention centre. idents,” she added. facilities of The to four highways: the Shah Alam Express- Th e facilities of Th e Parque Residences Ho noted that the full-fl edge facilities Parque Residences way (KESAS), Th e Kemuning-Shah Alam include a swimming pool, indoor badminton have attracted many buyers to start their have attracted Highway (LKSA), North South Expressway and futsal courts, cafe and entertainment family or their retirement plan here. buyers looking for Central Link (ELITE) and Th e South Klang room, gymnasium, jogging path, yoga deck “Th ere are customers who bought a unit retirement homes. Valley Expressway (SKVE). TEP 4 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY NEWS Opportunities in a volatile market

KENNY YAP / TheEdgeProperty.com PATRICK GOH / TheEdgeProperty.com SUHAIMI YUSUF / TheEdgeProperty.com BY CITY & COUNTRY

The Malaysian property market has been on a downward slide for the past two years or so. With an uncertain economy and few signs of the property market bouncing back in the near term, are there still opportunities for investors? Sarena Cheah, Sunway Bhd managing director of the Proper- ty Development Division for Ma- laysia and Singapore, believes that property investments have always proved to be resilient across eco- nomic cycles and there will still be pockets of opportunities even Riding in weak market conditions. Cheah: Properties within mature Lim: The issues involved extend into the Leong says investing in REITs allows “Properties within mature lo- locations that are well served and banking system investors access to a portfolio of out the cations that are well served and connected will remain in demand quality real estate connected will remain in demand. storm: The completion of new transport infrastructure will add to the ex- months of the appointment to re- for fi rst-time homebuyers may not at least 90% of their distributable PITFALLS citement of these locations,” says vive the market. impact developers’ sales mean- income to enjoy tax exemption on Cheah. Th e Real Estate and Housing ingfully due to the current rebates their income,” says Leong. Sarah Lim, Kenanga Investment Developers’ Association Malay- and easy financing schemes. It She adds that investing in TO AVOID Bank Bhd head of equity research, sia and other property developers may present more future risks for REITs also allows investors access takes a more cautious view of the have also continued to campaign the banking system,” opines Lim. to a portfolio of quality real estate property sector. She notes that to bring back the Developers Inter- If other options prove to be too while benefi ting from a favoura- SATURDAY, APRIL 30, 2016, fundamental data reveals that it est Bearing Scheme for fi rst-time volatile, investors may want to look ble tax regime and a high level of 9AM SHARP – 1PM is going through some structur- house buyers, says Lim. at investing in real estate invest- governance. SUNWAY PUTRA HOTEL, KUALA LUMPUR al adjustments that may change “However, it appears that there ment trusts (REITs), says Axis REIT Cheah, Lim and Leong will dis- the traditional property cycle al- are a lot of concerns about whether Managers Bhd CEO and fi nance cuss these matters at the panel dis- together. it will aff ect the banking system’s director Leong Kit May. cussion, “Where to put your money PRESENTED BY “Th e issues involved extend into future asset quality or it will in- A REIT is a defensive invest- — real estate, stocks or REITs?” at the banking system,” says Lim. crease the default rate down the ment option in a volatile market The Edge Investment Forum on She adds that there has been road if these loan applicants do due to its predictability in income Real Estate 2016. It will be held at talk that the incoming Bank Negara not have the right credit standing distribution and the potential cap- Sunway Putra Hotel in Kuala Lum- SUPPORTED BY Malaysia governor will introduce to start off with. ital appreciation. pur on April 30. Th e theme of the measures to boost the property “There is no easy monetary “This is because Malaysian forum is “Riding out the storm: Th eEdgeProperty.com sector within the fi rst six to nine solution in sight and measures REITs are required to distribute Pitfalls to avoid”.

UEM Sunrise to unveil Melia Residences this weekend

BY TAN AI LENG HARIS HASSAN / TheEdgeProperty.com France 2016” campaign, where buy- ers will have an opportunity to par- KUALA LUMPUR: UEM Sunrise ticipate in a lucky draw – 28 winners Bhd will launch Melia Residences, will go to France to watch the quar- the fi rst freehold landed strata res- ter-fi nal, semi-fi nal or grand fi nal idential development in Gerbang matches of European Football 2016. Nusajaya, Iskandar Malaysia, this Th e other properties of the “Sig- Saturday with selling prices from nature Selection – Rendezvous in RM596,000 to RM1.5 million. 1. Cheah (left) and UEM Sunrise France 2016” campaign include Th e company’s chief operating Bhd chief fi nancial offi cer Schubert, Schumann 2, Beethoven officer (commercial) Raymond Azhar Othman launching and Verdi “eco-dominiums” high- Cheah said phase one of Melia the ‘Signature Selection – rise homes at Symphony Hills in Residences comprises 125 units Rendezvous in France 2016’ Cyberjaya; Begonia in Bangi Serene of 2-storey terraced houses with campaign Heights; Residensi 22; Residensi built-up sizes ranging from 2,006 Sefi na as well as 11 Mont’Kiara in sq ft to 2,594 sq ft. 2. An artist’s impression of Melia Kuala Lumpur. “Currently, there are 901 inter- Residences in Gerbang Nusajaya “In Southern Malaysia, we have 1 ested buyers who have registered UEM SUNRISE Noble Park, Inspiration Park and with us. I am confi dent all the units Residensi Ledang – all located in in the fi rst phase will be sold before “Th e 73.64-acre Melia Residences East Ledang, Estuari Gardens, Tee- we launch the second phase in June,” will off er 625 units with three layout ga and Almas in Puteri Harbour as he told reporters during the press selections. Th e third and fourth phas- well as Twin Villas of Nusa Idaman,” conference of UEM Sunrise’s mar- es will be unveiled next year,” he said. he added. keting campaign “Signature Selec- Cheah noted that the devel- The lucky draw will be held on tion – Rendezvous in France 2016”. opment is about 800m from the June 18, 2016 at Publika Shopping Phase two of Melia Residences proposed High Speed Rail (HSR) Gallery in Solaris Dutamas, Kua- consists of 150 units of 2-storey station, which could be the main la Lumpur. terraced houses. catalyst of capital appreciation for “Th e campaign runs from April Th e fi rst and second phases of the property market in Gerbang 1 to May 31. Currently, there are Melia Residences have a gross de- Nusajaya. 60 purchasers participating in the velopment value (GDV) of RM196 Melia Residences is one of the campaign; we anticipate more million and are estimated to be projects under UEM Sunrise’s “Sig- participants after today’s offi cial completed by 2019. nature Selection – Rendezvous in 2 launch,” Cheah added. FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY TEP 5 NEWS

IRERS brings JPPH aims to introduce rental academics and data by October this year industry players together

BY NATALIE KHOO data by 3Q2015, covering Johor, One of the biggest events on The National Penang and Selangor. Howev- Putra World Trade Centre Institute of Valuation’s (INSPEN) calendar is PUTRAJAYA: Th e Valuation and Property Ser- er, it faced problems with the (PWTC), Kuala Lumpur from undoubtedly The International Real Estate vices Department (JPPH) aims to provide quality of the data it received. April 26 to 28. Research Symposium 2016 (IRERS), a bien- rental data on a subscription basis by October Th e department’s source of nial event that aims to gather real estate this year, said director general Datuk Faizan rental data are stamped ten- researchers from around the world to share Abdul Rahman. ancy agreements from the In- their latest research with each other and pro- The department aims to provide rental land Revenue Board of Malaysia (LHDN). Th e JPPH is now working on getting the ba- fessionals in the real estate industry. data for all kinds of properties – starting with agreements are supposed to be fi lled up by sic data for retail lots out, before it addresses Into its eighth edition, the symposium the Klang Valley – which the market “is in the property owners – through the PDS 49(A) alternative rental agreements such as prof- themed “Leading the Way: Innovation in dire need of”, he told Th eEdgeProperty.com form, either manually or online via the Stamp it-sharing models. Real Estate” will be held at the Putra World in an interview. Assessment and Payment System (STAMPS). Faizan said the government is also working Trade Centre (PWTC), Kuala Lumpur from “Rental yield is the rental amount divided However, the manual forms were only re- on a number of issues related to the issuance April 26 to 28. by capital value. Without the rental amount, cently updated to include the information of vacant possession (VP) and strata titles to Topics include valuation and pricing; real we cannot produce rental yield for investors. that JPPH needs to capture, while JPPH and speed up transactions and, consequently, the estate development and management; real With this rental data, we will give a fair valua- LHDN are updating STAMPS. output of data. estate market analysis and investment; in- tion of the rental value from our side,” he said. On the other hand, the forms are sometimes “In Malaysia, the strata title is not issued dustry cycles; land use planning; intellectual JPPH had initially aimed to roll out the incorrectly fi lled. Owners may be reluctant to upon VP. So a transaction that was performed properties; and ICT in real estate. disclose certain information, or third parties 10 years ago may only be issued the strata title Meanwhile, researchers – including recipi- such as clerks and runners who are employed today,” said Faizan. ents of the National Real Estate Research Fund to fi ll up these forms do not have enough in- As no stamp duty is charged until the strata – can disseminate their fi ndings there. There formation on the property. title is issued for primary sales from develop- will also be three plenary sessions, where Th e information that JPPH needs diff ers ers, this causes delays in JPPH collecting data about 80 papers are expected to be presented according to property type. “For a 2-storey ter- from LHDN. in three parallel sessions. Faizan: With raced house, we need basic information such “With the new Strata Management Act The symposium is being held in collab- this rental as how much is the rental and the address of implemented by the Housing Ministry that oration with the Royal Institution of Survey- data, we will the house. We don’t need the built-up of the came into operation in June last year, we ors Malaysia (RISM); University of Western give a fair house or the land size.” hope that eventually the stamp duty would Sydney, Australia; University of Ulster, UK; valuation of However, for properties such as retail lots, not be based on the title [such as in Singa- Queensland University of Technology, Aus- the rental JPPH needs to capture information such as pore], but on the agreement instead. Espe- tralia; and University of Reading, Malaysia. value from the size and level of the lots, due to the large cially in an active market, we are behind TheEdgeProperty.com is the media partner. SHAHRIN YAHYA / TheEdgeProperty.com our side. variance between such properties. time,” said Faizan.

Riding out the storm: 100 tickets up for grabs! PITFALLS [email protected] TO AVOID Registration starts 9am, April 25 (Monday)

SATURDAY, APRIL 30, 2016 9AM SHARP - 1PM SUNWAY PUTRA HOTEL,

KUALA LUMPUR PRESENTED BY SUPPORTED BY

Th eEdgeProperty.com TEP 6 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

BY RACHEL CHEW

o you think that owning a penthouse is out of your league? Well, we found PENTHOUSES some of these units for less than RM1 million – in the Klang Valley no less. A penthouse is often a luxury apart- ment unit on the top-most fl oor of an Dapartment or condominium building. It often comes with larger built-up sizes than the standard units FOR RM1 MILLION in a project. A common feature of penthouses is the panoramic views they off er. It is believed that the idea of a penthouse apartment was born in the 1920s in the US when economic growth brought on a construction AND BELOW boom to New York City. Th e demand for luxury living in urban centres led to the creation of these exclusive units on the top floor or floors of apartment buildings. Get your own slice of the ‘high’ life One of the earliest penthouses in the city was publisher Conde Nast’s duplex penthouse at 1040 (As listed on TheEdgeProperty.com as at April 12,,) 2016) Park Avenue, where in 1924 the building’s roof spaces were transformed into a grand duplex for Nast. According to PA International Property Consultants managing director Jerome Hong, penthouses usually exude a sense of exclusivity, luxury, sophistication and style. “Features that diff erentiate penthouses from the majority of units in the condominium build- ing may include the fact that such units are very limited in number within a development and are usually set on the highest fl oors with views of the surrounding skyline,” Hong says. Penthouses may come as duplexes or triplexes, with luxury fi nishing, fi ttings, their own roof ter- races, and maybe even their own private entrances or lift lobbies. Villa We have gone through some of the current list- ings of penthouses for sale in the Klang Valley on Mentari Wangsamasmasmas Th eEdgeProperty.com and noted that it is possible , Kuala Lumpur to own a penthouse unit for less than RM1 million. Condominiumminnium There was even one 1,500 sq ft unit going for Cheras, Kuala Lumpur RM498,000 at Tiara Duta in the more affordable Penthouse built-up: 2,562 sq ft Selangor side of Ampang. Besides, the condo block Asking price: Penthouse built-up: 1,735 sq ft RM1 million only has fi ve storeys so it does not off er much of a view. (partly furnished) So, if you are thinking of a penthouse to call your Asking price: RM788,000 Average asking price psf: own, here are seven random picks from a number (partly furnished) RM415 Average asking monthly rental psf: of penthouse listings on Th eEdgeProperty.com Average asking price psf: RM417 RM1.67 (as at April 12) going for RM1 million and below within the Klangng Valley. Average asking monthly rental psf: RM1.53 Features: • 5R4B on the 20th fl oor Features: • Freehold • Double-storey unit • The only penthouse unit on top • 4R3B on the 16th fl oor of all the nine towers • Leasehold • Easily accessible from • Located at Bandar Sri Permaisuri and Jalan Wangsamas • High ceiling • Minutes to KLCC • Space for laundry • 10 minutes by foot to Sri Rampai LRT station • Surrounded by amenities like restaurants, clinics, petrol station and convenience store

Midfi eldsdds Sungai Besi,si,i K Kualauala L Lumpurumpur

Penthouse built-up: 2,116 sq ft Asking price: RM740,000 (unfurnished) Average asking price psf: RM487 t ap a m Average asking monthly rental psf: RM1.59 See interactive m co rty. Features: Th Prope • 5R4B on the 20th fl oor eEdge • Leasehold • Developed by YTL Land & Development Bhd • Located opposite commecial units at Midfi elds Square • Accessible from four major highways: Federal Highway, East-West Link Expressway, Besraya Highway and KL-Putrajaya Highway FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY TEP 7 COVER STORY

East Lakekee Residencecce Anjung Seri Kembangan,ngan SeSSelangorlal ngor Hijau Penthouse built-up: 2,002 sq ft Bukit Jalil, Kualal L Lumpur Asking price: RM750,000 (fully furnished) Penthouse built-up: 2,100 sq ft Average asking price psf: RM430 Asking price: RM888,000 Average asking monthly rental psf: (partly furnished) RM1.92 Average asking price psf: RM499 Average asking monthly rental psf: Features: • 4R4B on the 18th fl oor RM1.56 • Leasehold • Duplex unit Features: • Comes with two storerooms • 5R3B on the 18th fl oor • Overlooks the lake and golf • Freehold course at the project • It has a panoramic view of the golf club • Well-connected by several highways • Same neighbourhood as the Commonwealth such as KL-Seremban Highway, Games Village, Malaysia Technology Park, Lebuhraya Sungai Besi and SILK Highwayhway APIIT College, IMU and Selangor Turf Club

Royal Domain Sri Putramas II Jalan Kuching, Kuala Lumpur

Penthouse built-up: 2,800 sq ft Asking price: RM1 million (unfurnished) Tiara Dutatta Average asking price psf: RM468 Ampang, Selangorangor Average asking monthly rental psf: RM1.65 Penthouse built-up: 1,500 sq ft Features: • 6R4B on the 36th fl oor Asking price: RM498,000 • Freehold (partly furnished) • Comes with a balcony that over Average asking price psf: RM460 looks the KLCC skyline Average asking monthly rental psf: RM1.47 • 10 minutes from KLCC • Besides standard facilities, the project also has a billiard room, Features: table tennis room and jogging track • 4R2B on the 5th fl oor • Leasehold • An old and low-density 4-storey project • Only 10 to 15 minutes’ drive to KLCC • Only 5 minutes to Ampang LRT station TEP 8 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY NEWS Property market dips in 2015, expected to stabilise

BY RACHEL CHEW AND actions last year despite a slight Meanwhile, unsold properties the press conference of the report es are still growing but not as high NATALIE KHOO drop in volume – by 4.6% to 65.2% under construction are those with launch event. as previous years. I think this is – and value – by 10.5% to 49%. building plan approvals and under As at 4Q2015, the Malaysian good news to serious homebuy- n line with expectations, In terms of new residential construction; and unsold prop- House Price Index stood at 227.5 ers. However, I don’t think prices Malaysia’s property market launches, 41,184 (58.6%) units out erties not constructed are those points, up by 5.8% on an annual will go down further this year.” in 2015 did not perform as of 70,273 units were unsold in 2015. with building plan approvals but basis. He foresees no significant well as it did in 2014. Meanwhile, higher overhang are not yet constructed. Both will “From 2011 to 2015, the range price changes this year. “The in- According to the Prop- units were recorded in 2015. There be considered unsold if they re- of residential property price dex should remain at this level, erty Market Report 2015 by were 11,316 overhang units worth main unsold for more than nine growth was either in the double if not lower, this year given the INational Property Informa- RM5.9 billion, up by 16.3% in vol- months after launched. digits, or high single digit. In 2014, current poor sentiment.” tion Centre (Napic) released on ume and 56% in value. Deputy Finance Minister Datuk it grew by 7%,” said Chua, attribut- Commenting on the 50.2% high Tuesday, there were 362,105 trans- According to Napic, overhang Chua Tee Yong commented that ing this to the cooling measures. loan rejection rate recorded last actions worth RM149.9 billion units are those completed with 2015’s performance was due to KGV-Lambert Smith Hamp- year, Chua said the loan rejection recorded in 2015, indicating a Certificate of Completion and the poor market sentiment and ton (M) Sdn Bhd director rate since 2011 to 2015 ranges be- decline of 5.7% in volume and Compliance or Temporary Cer- cooling measures. Anthony Chua told TheEdgeProp- tween 47.9% and 52.9%. 8% in value. tificate of Fitness for Occupation, “However, cooling measures erty.com that this result has prov- “Therefore, as 50.2% is within Residential remained the big- but remained unsold for more did help in slowing residential en that cooling measures did help the range, it is in the acceptable gest contributor to property trans- than nine months. price growth,” Chua noted during in lowering property prices. “Pric- level.”

SOURCE: PROPERTY MARKET REPORT 2015 The property market in 2015 at a glance

The overall property market performance Sub-sector contribution Residential market performance Volume and value of transactions to transactions Volume and value of transactions

Volume Value (RM billion) Volume Value (RM billion) Total transactions: 362,105 457,520 163 272,669 82

Residential 269,789 73 430,403 150 65.2% 152 384,060 72 247,251 Commercial 68 143 8.8% 381,130 138 246,225 235,967

362,105 Development 62 Industrial land 2011 2012 2013 2014 2015 1.9% Agricultural 5.7% 2011 2012 2013 2014 2015 18.4%

New launch VS sold performance Residential unsold units status Loan approval rate Sold: 68,760 29,089

Units launched: 245,903.78 50,491 53,476 228,944.37 70,273 52,028 Unsold: 206,031.79 193,743.44 41,184 40,175 186,790.70

19,607 15,091 Price movement 14,306 13,471 11,316 Malaysian House 121,000.60 121,091.53 (49.2%) (52.9%) Price Index 14,382 103,412.12 12,571 13,547 9,733 10,704 95,161.82 92,834.05 (50.2%) (50.9%) (47.9%) As at 2011 2012 2013 2014 2015 Loan 4Q15: applications 227 points Overhang Not constructed (+5.8% annually) Under construction Loan approvals 2011 2012 2013 2014 2015

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