Editor Roshan Kaur Sandhu CEO’S FOREWORD Writer Reena Kaur Bhatt Head of Creatives Angeline Lim Senior Graphic Designers Jason Kwong Wing Wong Ad Operations Executive Nur Alia Ahamd Tamezi General Manager (Media and Developer Sales) Jenn Adams General Manager (Consumer Marketing & Brand Management) Jonathan Adams General Manager (Agent Sales) Leon Kong TH Head of iProperty TV HAPPY 59 BIRTHDAY MALAYSIA! Jonathan Ong The month of August is a special month for Malaysians. On 31st August Chief Executive Officer 1957, the first Prime Minister of Malaysia, Tunku Abdul Rahman, Georg Chmiel stood at Dataran Merdeka and declared Malaysia independent. Chief Financial Officer Shiao Mae Chan Today, 59 years on, Malaysia has established herself not just as a Chief Information Officer Harmit Singh tourist destination but also home to many expats from all around International Correspondents the world. Ee Von Ng & Leslie Lin If you are looking to purchase property and would like to check out the latest developments in town, we have two Home & Property Fairs organized. The first will be at the IOI Mall in Puchong and this will be from 3rd to 7th of August. The second property exhibition, held from 10th to 14th August will be at Sunway Pyramid. Both exhibitions iProperty.com Malaysia Sdn Bhd (600850-K) Suite 11.01, Level 11 Menara IGB will be open from 10am – 10pm. Do lock them in your calendars and Mid Valley City, Lingkaran Syed Putra we hope to see you there. 59200 Kuala Lumpur, Malaysia Phone: (603) 2264 6888 In this month’s issue, our special area of focus is on East Malaysia, Fax: (603) 2264 6900 Sales enquiries: [email protected] where we share more about the developments in Sabah and Editorial matters: [email protected] Sarawak. So, if you are keen on learning more about the property General enquiries: [email protected] market there, then flip on over `to page 34 onwards` to find out more. Subscription: [email protected] International Property: [email protected] Enjoy the read and Happy Independence Day Malaysia! iProperty.com Malaysia Sdn Bhd (Johor) A-2-7, Pusat Komercial Bayu Tasek Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D-25-3 Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Georg Chmiel CEO iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd, Suite 11.01, Level 11 Menara IGB, Mid Valley City, Lingkaran Syed The iProperty Group 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. 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. CONTENTS August 2016 2 10 Special Focus Investor Profile CEO’s Foreword Happenings 34 53 8 East Malaysia property Rachel Lim: Finding her market remains stable calling in property Editor’s Note/ Happenings 10 12 36 Cover Story Research Data Points of Interest 12 36 55 SK One Garden City @ Bintulu, Sarawak - Sabah experiences Industrialised Building Combining the best of modern living with the beauty of nature softer property market System: Building better in 2015 and faster Event 39 58 Sarawak records Renting vs Buying: moderate growth in 2015 Which is smarter? 18 Seri Austin marks 11 years of living excellence 41 CBRE | WTW Sabah & Sarawak property 2016 Points of Interest report 22 47 Property Investment: No time like the present Property figures: Sabah 24 50 Sticky side of Strata Property figures: Sarawak 58 26 The art of risk mitigation: Tackling changes in GST Advertorial positions 62 29 Positive Eco-Living with OPR Cut: Will it create the desired effect? 50 PecoL® CONTENTS August 2016 International Section Agent’s Advice Research Data 80 84 Should i buy a landed or Knight Frank Research: high-rise property? Impact of brexit on UK property 66 Agents Regulars 66 81 86 International News Spotlights of the month Sr Vicky How Happenings Purchasing land in Malaysia: Facts to note 69 Singapore News 88 Happenings House Buyers’ Association Of redemption sums and 72 disclaimers – Part 2 International Features - Briefs Property Quotient - A real look at real estate 92 Dato’ Joey Yap Getting acquainted with Points of Interest negative energy 74 94 Going with the flow Down Under 82 Agent’s Views Agency Directory 75 103 82 Spheres of influence - Are Classifieds you making a difference Renting, buying or selling? - We will help you to ride the waves? through it! 112 78 Subscription Land law and types of land titles in Malaysia EDITOR’S NOTE We have reached the first half of the year and the Some industry players also shared their opinions property market was quiet in 1Q2016. According to on how the recent cut in the Overnight Policy Rate the National Property Information Centre (NAPIC), could affect consumers especially in regards to the the volume and value of transactions in 2016 property market. recorded a decrease of about 14.4% and 17.9%, respectively, compared with 1Q2015. Strategy is the name of the property game – Rachel Lim, known as “Flipping Queen of Malaysia” East Malaysia’s property market which is this and multi-millionaire property investor knows month’s Special Focus also recorded a moderate this better than anyone. Read the investor profile performance in 2015. section on page 53. To meet your investment needs and finding solutions to securing your first home down payment in the current economy, Kaygarn Tan, property Till next month! investment coach and Founder of Freemind Works shares his ideas. Dan Toh, CEO of RunningStream gives a low down on investing in the Australian property market on page 74. Roshan Kaur Sandhu HAPPENINGS Team Mah Sing builds home for the underprivileged Mah Sing Foundation, a charitable trust established We hope the new house owners will be able to have a by Mah Sing Group contributed RM42,000 to build a comfortable and safe place they can call home.” home for an orang Asli family in Kampung Serendah via EPIC Homes. Aside from building a safe home for the family, this project aims to foster a strong relationship between The 3-day build aptly named EPIC Build saw the the volunteers and the families. completion of a 650 square feet house with a foyer, 2 bedrooms with doors, kitchen, ceiling storage and It allows the volunteers to better understand the living room that was built from scratch. struggles, needs and challenges faced by the orang Asli families. 39 volunteers of the project including Mah Sing’s employees attended a Builders Basic Workshop a week prior to the actual build. The training included familiarisation with equipment and tools, learning building skills and understanding the process for the build. The workshop also assessed the volunteers’ capabilities and preference. Each volunteer will be placed in groups based on their experience and skills. Tan Sri Dato’ Sri Leong Hoy Kum, Group Managing Director of Mah Sing Group noted, “We are very happy to see our staff volunteering for this worthy cause. As a premier lifestyle property developer, working with EPIC Homes to build a house for a underprivileged family is a very meaningful task to us. 8 HAPPENINGS Philips Lighting introduces latest Luminous series of products The luminous series includes the following: • Luminous textiles which integrate multi-coloured LEDs seamlessly within beautiful fabric panels, allowing designers and consumers the opportunity to play with colour, movement, texture and light. • Luminous carpets which combine luxurious carpets with cutting-edge LEDs. The carpet connects easily with an electrical and IT system. With a simple setup, it can display personal messages or subtle signage, interacting with Philips Lighting, a global leader in lighting, recently guests, creating a lively impression on everyone introduced its Luminous systems to the South East who enters the room, office lobby, or building. Asian market at ARCHIDEX 16, South East Asia’s annual industry trade event for the architecture, • Luminous Patterns provide designers and interior design and building fraternity which consumers the freedom to enrich interiors by was held from 20 - 23 July at the Kuala Lumpur integrating light, colour, texture, patterns and Convention Centre. movements. Housing programmable LEDs in beautiful bespoke panels, it creates a signature “Philips Lighting continually strives to be at the ambience, particularly for hospitality environments forefront of the industry, developing meaningful and retail spaces. innovations because we understand how lighting affects people,” said Alok Ghose, Managing Director Various other connected applications and scenarios for Lighting, Philips Malaysia. “Beyond the purpose were seamlessly combined to provide visitors of illumination, we are focused on developing unique insights into the enriched aesthetics, value, products and systems that provide end users and and experience that can be gained through the consumers new lighting experiences and dynamic application of the one-of-its-kind Philips Lighting ambience” he explained. systems. Tropicana collaborates with Panasonic Group to build innovative eco homes – the development embraces innovative design and concepts that are fitted with Japan intelligent construction technology that aims to improve the quality of lives.