RM JU ISSU 8.50/S$8 LY E 2017 1 49

9 771823 872006 07

Editor Roshan Kaur Sandhu

Writer Reena Kaur Bhatt

Head of Creatives Angeline Lim

Senior Graphic Designers Wing Wong Jason Kwong Junior Graphic Designer Rechean Soong

Ad Operations Executive Nur Alia Ahamd Tamezi Intumathy Nadarajah

CEO REA Group - Asia Henry Ruiz

CEO iProperty.com Haresh Khoobchandani & Singapore

General Manager (Marketing) Wong Siew Lai

General Manager (Agent Sales) Leon Kong

General Manager (Developer Sales) Sean Liew

General Manager (Data Services) Premendran Pathmanathan

Group Regional Finance Director Esther Monks

Chief Information Officer Harmit Singh

Head of Media Sales & Ad Ops Martin Goh

Head of iProperty TV Jonathan Ong

General Manager (Sales & Marketing) Vincent Sim iProperty.com Singapore

Head of Marketing & Content, Leslie Lin iProperty.com Singapore

iProperty.com Malaysia Sdn Bhd (600850-K) Suite 11.01, Level 11 Menara IGB , Lingkaran Syed Putra 59200 , Malaysia Phone: (603) 2264 6888 Fax: (603) 2264 6900 Sales enquiries: [email protected] Editorial matters: [email protected] General enquiries: [email protected] Subscription: [email protected] International Property: [email protected]

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/iProperty.com Malaysia /iProperty_com

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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.

4 PB CEO’S FOREWORD

A NEW ERA in Property Search

Innovation has always been a key driving force behind everything we do and making the property search easy is a core priority for us at iProperty Group. As such, in line with our mission to change the way the world experiences property, we have enhanced our website and also mobile app to deliver a seamless search experience. It’s a new era in online property search and we are the first in Malaysia to give you, our valued consumers, access to sub sale and new developments in one search. The enhanced website and mobile app is the go-to platform for anyone who is searching for their dream home or next investment. The iProperty.com Malaysia app is available for download via the Apple App Store or Google Play Store. Existing users can simply update their current app to access the new version. Do also visit our website, www.iproperty.com.my to see the fantastic enhancements made. You can now obtain information on recent transacted prices, average rental yields, average price per square foot HARESH KHOOBCHANDANI and demand trends for many sub sale properties. These features will be CEO - iProperty.com Malaysia & Singapore added on to the mobile app soon. Aside from this, we are gearing up to celebrate and honour real estate professionals and agencies in the country via our inaugural iProperty.com Agents Advertising Awards. Held for the third consecutive year, the event is truly the Oscars of the real estate industry. In this issue of the magazine, our pick of the month is KL North. Find out more on pages 34 to 38. Also, the most awaited iProperty.com Malaysia Bumiputera Home & Property Fair will be held at NU Sentral Shopping Mall, Kuala Lumpur from 3rd till 9th July 2017 from 10am to 10pm. This 7-day event will feature new launches and the latest developments from leading developers across the region. For Bumiputera property purchasers, we have special deals for you! We look forward to seeing you there! Enjoy the read!

PB 5 Editor’s note Contents

Firstly, it gives me great pleasure to extend my warmest congratulations to Henry Ruiz, the new CEO of REA Group Asia. I am certain that under his leadership, wisdom and guidance, we will strive to much greater heights and achievements. I am particularly excited to share this issue of the magazine! You will notice that the magazine’s layout has been revamped with a fresh new design. Because in print we must provide something beautiful and interesting to make it worth it. Hope you like our new look! This month we focus on KL North 53 which covers areas like Sentul and which are slowly turning into desirable neighbourhoods. 5 Our analysis in the iPropertyiQ CEO’S FOREWORD PICK OF THE MONTH: section covers ’s sub- 6 EDITOR’S NOTE KL NORTH sale market and Premendran 34 KL North: Hotspots to watch 10 HAPPENINGS Pathmanathan, Data Services GM, 37 Realtor’s perspective: of iProperty Group highlights key Opportunities abound in KL North findings, transaction patterns and COVER STORY popular products. 14 Albury@Mahkota Hills – The In many developing countries, perfect blend between suburban iPROPERTYiQ.COM living and urban highlights such as Malaysia, cities have grown 39 Selangor sub-sale market: far beyond anything imagined and A closer look one of the challenges is the threat and possible emergence of urban EVENTS slums. Reena Kaur Bhatt explores 18 IQI Global to set up regional hub in RESEARCH DATA OKR this issue on the potential downside 46 Rahim & Co: Kuala Lumpur to the influx of high rise properties 20 GREEN paints the night Property market review 2016/2017 in the Klang Valley on page 50. 22 Johor’s Home & Property Fair: A Are you curious about the Feng smashing success Shui principles that apply when POINTS OF INTEREST 26 The 2017 iProperty.com Agents shifting into your new premises? 50 Urban Slums: A growing concern Advertising Awards is set to Master Paw Sandy shares some recognise real estate professionals 53 ‘Live-Work-Play’ rental properties – and agencies interesting tips on this. To find our Will it fly in the Klang Valley? more, flip on to page 100. 28 iProperty.com unveils enhanced 56 Is Rent-To-Own the answer to IOS and Android mobile apps Till next month! home ownership?

60 Tools of the trade Best regards INDUSTRY UPDATE 62 The Green Incentive 30 MIEA: Creating a bigger voice together

Roshan Kaur Sandhu

Contents

66

INTERNATIONAL SECTION 66 INTERNATIONAL NEWS Happenings

68 INTERNATIONAL FEATURES – BRIEFS 5 Common mistakes you should avoid when buying your home

72 SINGAPORE NEWS Happenings

RESEARCH DATA 76 Asia-Pacific residential review

AGENT’S VIEWS 76 86 There’s no stopping VivaHomes Realty

90 SPOTLIGHTS OF THE CONSUMER AWARENESS AGENT’S ADVICE MONTH 102 How to make a rental look like its 88 High end residential market: your own 2017 Trends, demand & potential 104 5 Sustainable flooring options 91 SUPERSTAR AGENTS 108 Top tips for planning your new kitchen

REGULARS 110 Leaf love: The best plants to grow 94 HOUSE BUYERS’ ASSOCIATION in your bedroom Shocking 304 EOTs issued by the controller of housing 115 CLASSIFIEDS 98 DATO’ JOEY YAP When “Good Luck!” is not good enough 120 SUBSCRIPTION 88 100 MASTER PAW SANDY House Moving In Ceremony - What, how & why

HAPPENINGS

“We are focused on creating Henry Ruiz confirmed innovative consumer products and as CEO of REA Group drive better value for our customers. Asia This includes the launch of new iOS and Android apps in Hong Kong, Malaysia and Indonesia in the last few months which leverages the leading experiences we’ve created REA Group has confirmed the in Australia to help people search for appointment Of Henry Ruiz as CEO, their dream home.” REA Group Asia effective immediately. Henry Ruiz, CEO REA Group Ruiz, who has been acting in Asia said, “The chance to transform this position since March 2017, is the way people search for and buy responsible for the Group’s Asia Commenting on Ruiz’s homes in a region which is still so business including iProperty Group appointment, Fellows said, “Asia is a early in its transition to digital real across Southeast Asia and Chinese key region in our long-term growth estate advertising is very exciting. property site myfun.com. strategy and Henry has made a big Our purpose is to change the way Ruiz reports to REA Group CEO contribution since he took on the the world experiences property and Tracey Fellows and retains his position interim role. He is well placed to we have a real opportunity to do this on the Board of PropTiger, the Group’s continue to lead our Asia business in Asia.” joint entity in India. and execute our regional strategy.”

S P Setia appoints Shangri-La as hotel operator for luxury development in Melbourne

When it is completed in 2022, it is expected the luxury five-star Shangri-La By The Gardens hotel will feature an estimated 500 guest rooms with three levels of amenities, including a sky lobby, restaurants, spa, fitness centre, pool and a state of the art ballroom. The second tower named “Sapphire By The Gardens” will include some 300 luxury residential apartments as well as office space. A sky bridge will connect the two towers, and retail space will occupy the lower levels of the development. Speaking at the event, Tan Sri S P Setia Berhad Group and Shangri-La Asi’ CEO, Lim Beng Chee, Dato’ Seri Dr Wan Mohd Zahid Shangri-La Hotels and Resorts, the formally confirmed the arrangement said the appointment of Shangri- leading Asia-based luxury hotel at a ceremony in Melbourne attended La supported the project’s vision group, recently announced Shangri- by international guests and media. to deliver an iconic development La as the official hotel operator Located at 308 Exhibition Street, that increases capacity, creates for the planned landmark luxury the Cox and Fender Katsalidis- local economic development development in Melbourne’s CBD. designed two-tower development opportunities, and sets a new S P Setia Chairman, Tan Sri Dato’ overlooks Melbourne’s World benchmark for five-star luxury in Seri Dr Wan Mohd Zahid, and Heritage-listed Carlton Gardens. Melbourne.

10 PB HCK Group launches Edusentral @ Setia Alam, with 100% take- up rate

HCK Group is set to carve its name as a fast-growing player in the property industry after all 505 units of its Edusentral @ Setia Alam mixed development project was snapped up, merely hours after its launch on 11th June. The brisk sale is a sign of home buyers and investors’ confidence in the mixed development project’s sustainability. The 12-acre freehold Wen, HCK Capital Group’s Deputy “The synergy between the development, with a GDV of RM1.3 Managing Director said, “The educational, commercial and billion, is HCK Group’s latest project competitive pricing for the units had residential components of the project that comprises an international also drawn many buyers. Between is the critical success factor and what school, six blocks of residential suites 60-70% of Stanford Suites and Yale sets Edusentral to be unique in this and 44 units of retail lots within Setia Suites units were selling for less than township. City. The township won the FIABCI’s RM360,000. ” “Buyers and investors want World’s Best Township award in 2013. Buoyed by encouraging market some certainty about catchment The 505 units taken up comprise of response, the company is set to soon so that their investment pays off. the Stanford Suites and Yale Suites, open the registration for the 307 The education component is able to the first phase of the Edusentral’s units in Cornell Suites, part of the provide the catalyst for that,” added residential parcels. Ong Chue project’s second phase. Ong.

IOI Properties and Hongkong Land to develop central boulevard land in Singapore

IOI Properties Group Berhad and envisaged comprises two office will bring office space of the highest Hongkong Land announced in June towers of approximately 1,260,000 quality to Singapore’s premier the signing of a Memorandum of sq. ft of leasable space and a small Central Business District,” said Lee Agreement they will jointly develop and retail podium of approximately Yeow Seng, Chief Executive Officer manage a prime land of approximately 30,000 sq. ft. of IOI Properties. 1.1 hectares strategically located within Upon completion of the proposed We are delighted to partner Marina Bay and the Central Business joint venture structure, IOI Properties with IOI Properties to deliver District of Singapore. will hold 67% of the joint-venture the exceptional levels of design, The site to be developed was a company and Hongkong Land will construction and management that “white” site in the Government Land hold 33%. our tenants expect,” said Robert Sales Programme. It was awarded “We look forward to working with Wong, Chief Executive of Hongkong to IOI Properties following a tender our partner Hongkong Land on this Land. in November 2016. The scheme exciting new development, which

12 13 HAPPENINGS

Roxy-Pacific and Macly Group launch The Infinitum

could be as small as merely 500 sq ft in Singapore. However, The Luxe in Malaysia is offering better space, ranging from 675-1180 sq ft to suit the local market,” said Herman Chang, Macly Group’s Managing Director. He said it will make living in the city more affordable and convenient for the single, ‘on-the-go’ executives, as well as couples who need to be at the centre of action - but do not require the extra space. “Owners are able to rent out the other self-contained studio, while still enjoying the privacy of living next door. The smart design will allow owners to an investment model that will create the dual-income benefit, through only one investment (title)”, Herman added. The boutique suites are priced at RM1,350 per sq ft. Through Macly Equity Sdn Bhd, Monorail Station and the vibrant “While market is offering prices at Singapore’s Roxy-Pacific and Macly commercial surrounds of the area, RM 1,800 - 2,600 per sq ft, we believe Group joined ventures in introducing which include Universiti Kuala this is an entry-level opportunity an exciting perspective to KL city Lumpur (UniKL). for purchasers to own an estate dwellers with the unveiling of Tower The property is also just minutes within KLCC’s (KL City Centre) zonal B, The Luxe by Infinitum on 9th June. away from the PETRONAS Twin address - without paying the prime The mixed commercial retail and Towers, the shopping price tag!”, said Catherine Wong, residential development located at district and Jalan Tunku Abdul Head of Sales and Marketing, Macly Jalan Dewan Sultan Sulaiman, is on a Rahman. Equity Sdn Bhd. freehold, 1.389 acres of land and has Inspired by the trending ‘shoe-box With its easy ownership package a gross development value of RM800 design’ and ‘dual-key’ concept that and bundled furnishing of built-in million. The tower houses 43 levels of is in demand in Singapore, Hong kitchen cabinets, bedroom wardrobe 300 furnished units and features four Kong and busy cities in the US, the as well as branded electrical floor plan types. mini apartment is compact in size appliances, The Luxe by Infinitum Located right next to Quill City as compared to your typical family boasts an added advantage of being Mall, the newest lifestyle destination condo which ranges 1,200 -1,800 sq in the heart of shopping avenues in Kuala Lumpur, The Infinitum has ft. “The shoe-box apartment, also such as Suria KLCC, Bukit Bintang good access to the commonly known as ‘mini studio’, and Jalan Tunku Abdul Rahman.

12 13

ALBURY@MAHKOTA HILLS – The perfect blend between suburban living and urban highlights

14 15 COVER STORY

Experience the perfect blend between contemporary lifestyles and country living

s the Klang Valley expands its borders and as urbanisation sweeps across major townships, the demand for quiet and Arustic living spaces has increased. Located in the south- western edge of the Klang Valley and placed under the jurisdiction of Semenyih south Albury@Mahkota Hills has captured the attention of both developers and potential property-owners. Looked upon as the next hotspot for contemporary property developments, Semenyih is also renowned for its eco-tourism hub complimented by the scenic Sungai Gabai Waterfalls, Semenyih Water Reservoir, Congkak River Forest Recreational Centre and the breath- taking Broga Hills. Over the last 10 years, Semenyih has experienced robust growth and has welcomed commercial and residential developments amidst its charming and scenic environment. One such development is Albury@ Mahkota Hills, a residential precinct comprising single and double- storey link homes. The development is the first for UMLand in Mahkota Hills, spanning 52.1 acres of freehold land, and comprising 331 single- storey units and 382 double-storey units.

Stylish residences Albury@Mahkota Hills presents stylish residences with contemporary designs and high quality workmanship. The gated and guarded development features single and double-storey link homes with built-up sizes ranging from 1,223 sq ft to 2,136 sq ft. The single-storey units consist of 3 bedrooms and 2 bathrooms while the double-storey units comprise 4 bedrooms and 3 bathrooms. The homes come with dimensions of 20ft x 70ft, 18ft x 65ft, 22ft x 65ft, and 22ft x 75ft.

(main) Lifestyle of Single Storey Terrace Homes.

14 15 (left) Lifestyle of Double Storey Terrace Homes.

Each home promises spacious playground is an exhilarating space living, dining and kitchen areas with with a modern yet cheerful touch. cosy bedrooms, complimented by The development boasts a rustic ample space on the front porch 20-acre central park with lush tropical to park 2 cars side-by-side. With greenery, manicured lawns as well as a strong commitment to quality, a scenic lake. The tree-lined streets, Albury promises contemporary and broad boulevards, paved roads and stylish fittings and finishes. Ceramic well-lit surroundings is the ideal spot tiles are used generously across the to live a secure and peaceful life away living, dining, kitchen, bedrooms and from the hustle and bustle of the bathrooms, whilst the terrace boasts city yet within easy access to urban premium porcelain tiles. The use of top conveniences. quality sanitary ware and the provision Targeted at young families, of ample electrical points testify to the professionals and investors, Albury is development’s well-structured design priced from RM231 per square feet to and commitment to providing quality RM289 per sq ft. The development is living spaces. scheduled for completion in 2018. In 2017, Mahkota Hills was awarded the Contemporary living Best Livable Township Development at Albury@Mahkota Hills promises a recent awards ceremony. contemporary living complimented by a fully-equipped common clubhouse Secure living that hosts a range of recreational and Recognising the need for security lifestyle facilities. Residents get to and surveillance to ensure the safety enjoy the mesmerising swimming pool, of residents, UMLand and the Royal gymnasium, common hall, barbeque Malaysian Police launched a pilot (top) Facade of Single Storey Terrace Homes. pits, as well as basketball, volleyball community policing programme in and badminton courts. The children’s February 2017, at Albury, aimed at (bottom) Clubhouse.

16 17 COVER STORY

(right) Facade of Double Storey Terrace Homes.

enhancing safety and well-being within the community. This programme is in line with the federal government’s economic expansion plans in the south of the Klang Valley as well as various initiatives introduced under the Tenth Malaysia Plan 2011 to 2015 and the Eleventh Malaysia Plan 2016 to 2020. A catalyst for the future Modern infrastructure A promising lifestyle With the government’s plans to With the rapid expansion of the southern With the rapid development of expand the border of the Klang Valley, Klang Valley, the Malaysian government Semenyih amidst its eco-friendly Mahkota Hills is at the epicentre of the has established key strategies to environment, Albury@Mahkota Hills country’s future plans. The township strengthen the infrastructure of this offers the best of country living and is within a convenient distance from zone, according to the Eleventh Malaysia urban conveniences. The development the upcoming Malaysia Vision Valley Plan 2016 to 2020. These infrastructure is well-connected and easily accessible (MVV) project which was announced initiatives include the recently completed via the Kajang-Seremban Highway by the government under the Eleventh RM10 billion Ampang LRT Extension (LEKAS) and the Cheras-Kajang Malaysia Plan. Line that connects to highway. The MVV project is an economic Puchong before ending at Putra Heights. Semenyih is within a convenient corridor that is set to be located at Other infrastructure plans that support distance from various shopping havens the western part of Negeri Sembilan, this zone include the MRT Line 1, 2 and such as Mydin Wholesale hypermarket, spanning Nilai, Seremban and Port LRT Line 3. Econsave Cash & Carry, AEON Mahkota Dickson with a proposed area of Cheras and Tesco – all of which are 108,000 hectares. MVV is poised to The developer located within several minutes’ drive be the hub for high-tech industries, Albury@Mahkota Hills is the brainchild from Albury. Meanwhile, IOI City Mall logistics, education, health, tourism and of Kia Ace Development Sdn Bhd, a and Alamanda Putrajaya are located 25 sports. This new economic corridor is wholly-owned subsidiary of UMLand Sdn minutes away from the development. expected to create some 1.35 million Bhd – an award-winning developer with Mahkota Hills is also within a jobs by 2035 and bring in investments two property divisions, namely township stone’s throw from reputable tertiary of more than RM417.6 billion by 2045. development and niche projects. Under institutions such as the University Mahkota Hills is also within several its township development division, of Nottingham Malaysia Campus, minutes’ drive from the upcoming UMLand has successfully delivered five MARA College and the elite Kolej Cyber City Centre in Cyberjaya which townships namely Bandar Seri Alam and Tuanku Jaafar, while other institutions has a gross development of RM5.35 Taman Seri Austin in Iskandar Malaysia, which are located several minutes’ billion. The upcoming KLIA Aeropolis, Bandar Seri Putra in Bangi, Mahkota Hills away include Universiti Kebangsaan located just 20 minutes’ away, is set to in Semenyih and the new world-class Malaysia, University Tenaga Nasional, host regional eCommerce initiatives integrated biotech park in Pasir Gudang, Universiti Putra Malaysia and the and act as a logistics hub under Johor Halal Park, which is a joint-venture German Malaysian Institute. Premier the Digital Free Trade Zone (DFTZ) project with JBiotech, an arm of the healthcare centres in the vicinity initiative, which is the first in the world. Johor State government. include KPJ Kajang Specialist Hospital, KLIA Aeropolis is expected to establish For more information on Albury@ Kajang Hospital, Hospital Serdang and 56,000 jobs while DFTZ is expected to Mahkota Hills, visit www.umland.com.my Columbia Asia Hospital Cheras. provide 60,000 jobs.

16 17 IQI Global to set up regional hub in OKR

The Dubai-based real estate investment and advisory firm with offices across 5 continents has chosen Malaysia to house its brand-new Asia Pacific Command Centre.

(left to right) Shahid Saleem, Chief 33,000 sq ft of office space in Millerz our regional training ground as well; our Finance Director of IQI; Kashif Square situated along Old Klang Road members from Canada and Australia Ansari; Michelle Siew and Thomas Yoong, Head of Sales & Marketing (OKR). will be able to share valuable knowledge (Industrial) of Exsim Group IQI’s new Command Centre in Millerz and business know-how with our Asian Square will house its Malaysia office teams here in Malaysia, Indonesia, and regional training centre. The RM30 Thailand, Vietnam and the Philippines. million acquisition will help accelerate He added, “This Command Centre will IQI’s growth as it caters to the regional help propel our team to reach greater real estate market. heights and to realise our vision of being IQI Holdings Sdn Bhd, a subsidiary of Speaking at the signing ceremony, the global leader in real estate. At IQI, IQI Global inked two deals with Exsim Ansari said, “IQI has chosen Malaysia we believe it is our duty to build the best Grou. as it regional hub as we are very much culture and environment for developing The first agreement which was confident with the country’s strong and rewarding our sales agents, who are officially signed between IQI’s Group fundamentals – it has a strong economy, the lifeblood of the company. Hence, CEO, Kashif Ansari and Michelle friendly investment policies, modern they deserve a nurturing, inspiring space Siew, Exsim’s Head of Corporate infrastructure and an educated labour that allows them to flourish.” Communications saw IQI acquiring force. The centre in OKR will serve as Millerz Square is the first mixed

18 19 EVENTS

(top) Kashif Ansari (Standing Left) with his team from IQI.

(bottom left to right) Dave Chong, Kashif Ansari and Michelle Siew fielding questions during the press conference.

value system, i.e Comfort and Elegance, “At IQI, we believe it is our duty Luxurious Quality, Superior Location, Innovative Technologies and Cultural to build the best culture and Creativity is a win-win for both our investors and guests.” environment for developing and Explaining about the luxury accommodation potential in Malaysia, rewarding our sales agents, who Ansari said, “The middle-class segment in Malaysia and neighbouring Asian are the lifeblood of the company. ” countries are growing and these development by Exsim Group that will rental industry. The company’s goal people are looking for better lifestyle offer 5 blocks of high-rise developments, is to provide its guests with a 5-star experiences. There is also a huge which comprise of one strata office accommodation experience. Moving demand for short term luxurious tower housing 336 office suites units forwards, MyKey Global will be working accommodation from business and four blocks of serviced apartments closely with property developers to travellers, especially from India and featuring 1,633 units. There will also be expand its business to major cities China. China and India currently rank an art college within the development domestically and internationally and will second and third respectively as the which will be complemented by F&B and be adding an additional 500 rooms to its biggest passport issuers – Given retail outlets. inventory every year. Malaysia’s strategic location and The second agreement signed with Dave Chong, CEO of MyKey friendly foreign investment policies, the Exsim will see IQI’s hospitality arm, Global said, “Besides providing the market potential for travel and business MyKey Global managing 300 units of the ultimate hospitality experience for accommodation is huge.” developer’s serviced accommodations, accommodation seekers, we are helping “We are confident that these two Expressionz Professional Suites at Jalan our property investors and owners collaborations between IQI and Exsim Tun Razak. achieve a higher rental yield. Our Group will make a long-lasting impact on MyKey Global, IQI’s latest subsidiary sustainable accommodation investment the ever-dynamic Asia Pacific real estate is a new name in the luxury short-term model which is based on a 5-pronged market,” concluded Ansari.

18 19 GREEN paints the night In this second of our 2-parts Exclusive Report on the recently concluded 2-days WorldGBC Asia Pacific Regional Network Meeting that was hosted by MGBC on 10th – 11th April 2017, we bring you the highlights from “A Special Networking Evening with the WorldGBC Chairperson”.

The Networking Evening, which is part President of MGBC, who echoes on of MGBC’s Networking Series for the the importance of all Green Building Session 2016/2017 under their Events, Councils working together to drive the Media & Communications’ Committee, sustainability agenda within the APN hosted its fellow Green Building as well as assisting the WorldGBC on Council representatives across the their global efforts to create a greener Asia Pacific Network (APN) as well as built environment. Tai was then invited MGBC’s Industry Partners from various to deliver a short, keynote speech to all trades and industry. The networking guests present and he gracefully shared was held at the Roofino Sky Dining & his visions on the cities that we love and 1 Bar @ KL Trillion on the evening of 11th live in. According to him, there is one April 2017 and attended by more than problem which has escaped the big 80 guests. Most notably, the evening picture when we think about building was graced by Tai Lee Siang, the green and that’s the cities. Chairperson of the World Green Building “Cities are places we love and should Council (WorldGBC).The evening think about carefully during planning kicked off with a candid welcoming & building. That’s because up to 66% 2 3 from Ir. Ahmad Izdihar Supaat, the of Green House Gas (GHG) & 70% of

20 21 EVENT

Carbon Dioxide (CO2) emissions are green buildings and sustainability 4 from buildings & transportations – which adoption. What’s great is that we have largely took place in cities. These are been and will continue to work with alarming figures & we definitely need many sectors and partners who have to do something to address the issues”, assisted us in many ways, most notably stressed Tai. in delivering our vision and mission at a In his keynote presentation, he further much greater pace. We would also like emphasised that governments shall not to extend our gratitude to the WorldGBC 5 be the only organization tasked to deal for being a guiding light and forming a with the issues as all of us who lives in wonderful camaraderie between all the cities must play a critical role or suffer Green Building Councils to form a very from the deteriorating consequences. solid platform for all of us to work on,” And this is exactly why Tai feels that it is Sinha said. imperative to get people from all walks The evening then continued with a of life to be interested and engaged in simple video presentation by the MGBC the sustainability topic so that it will Events team that was dedicated to 6 7 motivate everyone to care more about Dong Ji (M) Sdn Bhd – the exclusive our cities and Mother Earth. Green Partners for this 2-days APN “We must rethink what we can do for Meeting and Networking functions. This the cities. There are many ‘ingredients’ was followed by a presentation of the that I feel makes people love their cities, Appreciation Trophy and Certificate such as ‘families-oriented cities’, ‘less car of Appreciation to Melissa Ng – the cities’, ‘garden cities’, ‘interactive cities’, Marketing Manager of PENTENS ‘innovation cities’, ‘shopping cities’, Holdings Sdn Bhd. The presentation was ‘sports & healthy cities’, ‘edible cities’, delivered by Tai & Ahmad respectively. 8 ‘smart cities’, ‘happy cities’, ‘cities of Melissa was then invited to give a short hope & honour’, ‘cities of romance’ and introductory speech about Dong Ji (M) many more,” Tai said. Sdn Bhd, and how the company has Tai then provided some model cities, worked with and supported MGBC over such as Tokyo in Japan for pushing a many years on delivering green building less-car city concept and whereby on activities, seminars, courses to all the 1 MGBC Board Members & Guests alike enjoying average 40-million people commute by industry stakeholders. the Networking Evening trains on a daily basis – which literally After all the enlightening speeches, 2 Ir. Ahmad Izdihar delivering his Welcoming Speech means that the roads are then ‘returned’ the evening continued with more 3 Tai Lee Siang delivering his Keynote Speech to the people instead of being cloaked discussions and networking amongst 4 Ar. Alice Leong (MGBC Honorary Secretary), Dato’ Vincent Lim (President, C.I.S. Network), by vehicles. Another example, he noted, the guests. Finger food and wines were Ir. Kok Yen Kwan (MGBC Events Chair), Daron is the Singapore city which he originates served throughout the evening for all Cheah (Managing Director, USG Boral Sdn. Bhd.) from, being a garden city as increasing guests to enjoy and overall, it was a 5 B.K. Sinha (MGBC CEO, third-left) hosting number of buildings are turning their wonderful evening of gathering of the a discussion amongst fellow Regional GBC Representatives rooftops into herbs gardens and industry players that not only created 6 Appreciation Presentation to Dong Ji (M) Sdn. greenery-in-the-sky concepts. The last new friendships, but great sharing Bhd.: Jamie Ng (Head of Events, iProperty speech of the evening was delivered of new ideas that hopefully will unite Malaysia), Yen Kwan, Alice, Ahmad, Melissa Ng (Marketing Manager, PENTENS Holdings by B.K. Sinha – the CEO of MGBC, who the green building industry not just Sdn. Bhd.), Lee Siang & Emily Tan (Business thanked everyone attending for making in Malaysia, but both regionally and Development Executive, Dong Ji) 7 Melissa introducing Dong Ji (M) Sdn. Bhd. & its the networking evening a successful one. globally. support for MGBC & sustainability “I do believe this is a very exciting For more information on the Malaysia 8 Dato’ Vincent, Prabodh Sheth (Executive Director, iCEE), Chong Xin Yi (Nippon Paint (M) time ahead for both MGBC and all our Green Building Confederation or to find Sdn. Bhd.), Yeoh Moi Tian (BlueScope Lysaght), regional GBCs. In the APN, we have a out on our latest activities, do follow us Ar. Dr. Zulhemlee An (President, PAM), Emelyn Low (BlueScope Lysaght), Ahmad, Yen Kwan, 15-strong countries membership and on our official Facebook (http://goo.gl/ Sabrina Chow (Nippon Paint (M) Sdn. Bhd.). share the common mission of driving rGZoiC) or Twitter (@MalaysiaGBC).

20 21 1

JOHOR’S HOME & PROPERTY FAIR: A smashing success iProperty.com’s fair received encouraging response in Johor Bahru and featured a host of sterling property developments in Johor.

From 19th to 21st May 2017, more than 800 visitors flocked to Johor Bahru City Square to check out the Home & Property Fair 2017, featuring a wide range of residential, commercial and industrial properties. The fair presented 25 exhibitors promoting an extensive range of middle to high-end residential and commercial properties, all under one roof. Visitors to the fair were mainly interested in property development projects ranging from RM300,000 to RM500,000, and were there to research the market, check-out investment opportunities and purchase their first property. Apart from properties, the event also showcased interactive activities such as free seminars, a video launch by Master Paw and a book launch by property stalwart Ishmael Ho. Visitors were also 2 given the opportunity to engage in

22 23 EVENT

1 Official Book Launch - High speed rail from Kunming - Iskandar – Jakarta: Jennice Tan, Sales Administrative Manager, Zhuoyuan Iskandar; Frankie Tan, Senior General Manager, UMLand – Seri Alam; Dato Sri Jacky Ker, Managing Director, Premier Plus; Ishmael Ho, CEO of Ho Chin Soon Sdn Bhd; Tan Sri Tan Seng Leong, Group Managing Director, BCB Berhad; Sean Liew, General Manager of iProperty.com Developer Sales. 2 (L-R) 8TV News Anchor Tan Chia Yong; Master Wong - President of Malaysia’s Feng Shui Association; Dato’ Sri Tey Kim Chai - President of Persekutuan Tionghua Johor Bahru; Master Paw; YB Tan Cher Puk - Special officer to the Johor Chief Minister; Dato Sri Gavin Tee - founder and president of SwhengTee International Real Estate Investors Club and Sean Liew. 3 Ishmael Ho with Miichael Yeoh (CEO and founder of GM Training Academy ) and Richard Oon (Founder and Managing Director of ConsulNet Tax Services Sdn Bhd). 4 With visitor, Winson Lim from Singapore. 5 Sean Liew presents certificate and prize to one 3 of the colouring contestants.

interesting activities namely, Spin the Wheel, lucky draws, children’s activities and colouring contests. Also on the list was a special contest for property purchasers. Winners walked away with attractive prizes that included home appliances.

COMMENTS Winson Lim, 44, Singaporean “I was shopping at City Square and noticed this exhibition and so I decided to explore and do some homework on 4 the property market. I am considering a landed weekend or retirement home.”

Ferdinand Robert, 72, Singaporean “I caught sight of the exhibition while shopping but I only visited the Sunway booth to enquire about Sunway Johor’s project updates. I have business interests in Johor Bahru and so this is a convenient location for me.”

Karen Khor, Malaysian “I am interested in what’s out there for upgraders and investors. This fair also gave me the opportunity to do some market research on the kind of 5 developments available.”

22 23 Daisuki Usugi, CEO, Daiwa House “Daiwa House has a joint venture project with Sunway Iskandar. We are registering buyers and will invite them to an open house next organised by Daiwa next Saturday. The potential buyers who are interested so far 6 are mainly Malaysians working in Singapore.”

Ng Yin Meng – Director, Tinta Anggun Engineering Sdn Bhd “Our target market is mainly Singaporeans who are considering weekend homes or to garner rental yields. We chose this fair because iProperty.com has proven to be a major property portal with a prominent presence in the market. Furthermore, this property fair is strategically located near the causeway thus attracting Singaporean buyers.”

7

8

24 25 EVENT

Dato’ Sri Jacky Ker – Managing Director, Premier Plus “iProperty.com Malaysia has managed to attract a good balance of visitors comprising both Malaysians and Singaporeans. With this quality crowd, we are able to reach out to the right target market.”

Hatten Group Sdn Bhd - Steven Kort “iProperty.com is a good brand and City Square is an excellent venue for this event.“

Southkey Properties Sdn Bhd – Agnes Wong, Deputy GM “ iProperty is the one of the best 9 brands and partners to work with”.

6 Daisuki Usugi, CEO of Daiwa House sharing his feedback about the expo. 7 Ng Yin Meng, Director of Tinta Anggun Engineering featuring its Malacca project. 8 Karen Khor, a KL Lite sharing her thoughts on the expo. 9 Dato’ Sri Jacky Ker, Managing Director of Premier Plus featuring its’ Medini commercial project. 10 Steven Kort, Branch Manager, Hatten Group highlighting its Malacca project. 11 Agnes Wong, Deputy GM of Southkey Properties Sdn Bhd. 12 Mock cheque ceremony to Amitabha Malaysia in conjunction with Iskandar Feng Shui video launch by Master Paw. 10

11 12

24 25 EVENT

The iProperty.com Agents o Outstanding Performing Agent / Advertising Awards will be held on 15th Negotiator (Residential/ Commercial) The 2017 August 2017 at KL Hilton. iProperty. o Stellar Agent / Negotiator com Malaysia & Singapore CEO Haresh o Star Agent / Negotiator - Area iProperty.com Khoobchandani said, “It’s the most (Residential/ Commercial) acclaimed property industry awards o The Extra Mile Agents in the country and celebrates the best o Outstanding Leader advertising practices and outstanding o Visionary Trainer Advertising performances by agencies and professionals within the real estate Consumers voted for their preferred industry. Agency of the Year – Titanium/ Awards is set “These awards recognize the Platinum/ Gold and Exemplary Agency best and most innovative real Culture under the Agency Category. to recognise estate professionals and agencies Under the individual category, in the country and an opportunity consumers also voted for their most real estate to celebrate the highest levels of preferred Breakthrough Agent / excellence, leadership and innovation. Negotiator of the Year (Residential/ professionals “The awards celebrate the passion, Commercial), Star Agent / Negotiator excellence and commitment that real of the Year – Area (Residential/ estate professionals have in helping Commercial) and for the agents who and agencies people find their dream home or have provided the best customer service property investment. Consumers under The Extra Mile category. Voting are also able to vote for agencies commenced on 6th June and was open The highly coveted or individuals in several categories. until 30th June 2017 at https://www. iProperty.com Agents We want to provide people with the iproperty.com.my/AgentsAwards/vote- Advertising Awards opportunity to recognise agencies or now is back for the third individual professionals for their role in Prior to inviting the public to vote, the consecutive year. helping them in their property journey,” iPropery.com Malaysia team shortlisted added Haresh. the finalists and a panel of highly There are 14 categories and the acclaimed judges will come together categories are divided into three areas; and select the winners. real estate agencies, and individual The judges are: professionals representing residential • Haresh Khoobchandani, CEO of and/or commercial properties iProperty.com Malaysia and Singapore • Dr James Tee, Managing Director AGENCY AWARDS / Chief Executive Officer of Medini o Agency of the Year Iskandar Malaysia o Outstanding Real Estate Agency • David Shieh Chong, General Manager o Top Agency in the Central/ of REHDA Institute Northern/ Southern Region • Richard Oon Hock Chye, National Tax o Emerging Real Estate Agency Director at TY Teoh International o Elite Project Marketing Agency • Ahyat Ishak, Founder of the Strategic o Visionary Real Estate Agency Property Investor Program o Exemplary Agency Culture For more information about the INDIVIDUAL AWARDS iProperty.com Agents Advertising o Breakthrough Agent / Negotiator Awards, please visit https://www. of the Year (Residential/ Commercial) iproperty.com.my/AgentsAwards

26 PB Housing All Your Property Find your dream home with minimal e ort Needs via our property experts.

Search under the Agent Directory to find your preferred agents.

Download the iProperty.com Malaysia app today!

Get in touch with your agents today! +603 2264 6888 [email protected] www.iproperty.com.my/mobile iProperty.com unveils enhanced iOS and Android mobile apps

The iProperty.com Malaysia app is a must have for property buyers and investors who are on the hunt for their dream home or next investment.

daily is embracing a new era in online property search. With more than two million average monthly visits, iProperty.com Malaysia has also been revamped to include information on recent transacted prices, average rental yields, the average price per square foot and demand trends for many sub-sale properties. Data is obtained from iPropertyiQ.com, in collaboration with brickz.my and government agencies. It’s then presented in a simple and easy-to-understand format on iProperty.com Malaysia to give consumers the information and insights they need to make more educated property decisions. (left to right) Premendran Pathmanathan, The new app provides users with a Haresh Khoobchandani, Haresh Khoobchandani and iProperty.com Malaysia & Reza Khoshdelniat (Senior Product seamless property search experience Manager-mobile) thanks to a total refresh of the look and Singapore CEO, said: “The app’s feel, and the integration of search, which user-friendly interface and smart features surfaces developer and established have increased the number of iProperty. property listings in a single search. com Malaysia app users by more than Since the app’s soft launch in May, 20% which is a significant increase. customer leads have increased by 46 “It’s exciting to think that percent while website clicks on new our strong company focus on innovation, launch properties have increased by clearly visible in our new iProperty.com 250 percent. The tech-savvy Malaysian Malaysia app, is set to propel the whole market, where 88 percent of the digital advertising industry forward in this country’s population use the internet country.

28 29 SEARCH EXPERIENCE

“Malaysians are very tech-savvy and always on the lookout for products that meet their demands and needs. To be the first in the country to launch a combined search platform, giving property buyers and investors a seamless experience and access to sub sale and new developments in one search is a fantastic achievement. “Buying property is one of the biggest decisions people make and it’s our role to ensure it’s an informed decision. Through data and combined search, we have set a new market standard in property search.” Premendran Pathmanathan, General Manager, Data Services, iProperty Group said, “With rich data insights we’re empowering property buyers and investors with the information they need to make an educated decision “Today the data insights are available on the iProperty.com Malaysia desktop site, however, property buyers and investors often initially access data insights from their mobile devices and proceed to visit iProperty.com.my or brickz.my directly to conduct more in- depth research. “We are excited to see our data and analytics reaching more consumers through iProperty.com Malaysia and we look forward to working together to bring these insights to the new app soon.” The new iProperty.com Malaysia app is available for download via the Apple App Store or Google Play Store. Existing users can simply update their current app to access the new version. For more information about the new iProperty. com Malaysia app, please visit http://rea.to/yc9qx

28 29 MIEA: Creating a bigger voice together

Eric Lim President of MIEA

iProperty.com had the pleasure of (BOVAEA) (2007 – 2016). Besides What do you aim to achieve in your sitting down with the new President being a Board member, I was part of presidency term? of Malaysian Institute of Estate its EXCO Committee and Chairman of I see collaboration with other Agents (MIEA), the very debonair the Estate Agents Practice Committee professional bodies such as BOVAEA and articulate Eric Lim. A well (EAPC). and relevant industry leaders as vital to accomplished professional with over One of our key achievements MIEA’s effectiveness, so in the coming 20 years in the industry, Eric spoke amongst the many initiatives bringing months we will be working closely passionately about his plans for MIEA improvements to the industry was the with these bodies to enhance our role. moving forward as well as steps they registration of negotiators. In 2014, We will also take the opportunity to will be taking to address its perennial we secured the Board’s approval engage with over 23,000 registered problem of illegal agents. We began and subsequently developed and negotiators as well as registered our interview by getting to know Eric. conducted the necessary accreditation agents to increase their awareness of courses for negotiators and the the benefits of an MIEA membership. Please do tell us about yourself. implementation of the REN tag One of the issues plaguing the I have the honour of just being exercise. Today we have more than industry is that our practitioners are elected as the President of MIEA. 23,000 registered negotiators. affected by illegal agents who don’t My term started at the end of April, After more than 20 years in the abide by the laws. Unfortunately, we do prior to which I was the institution’s industry, I was awarded the Real Estate not possess the authority to commence Deputy President. I have been actively Agent of the Year in 2014 by MIEA any action against illegal agents and serving as part of MIEA Council of in the annual National Real Estate so my plan is to work closely with the Management for the last 14 years. My Awards. police on this matter. An early initiative participation in the industry which My current full-time role is as the with the police force and AG Chambers I view very much as being national founder and Managing Director of have already commenced and I will service began in the Board of Valuers, Hartamas Real Estate Group. endeavour to push it further in curbing Appraisers and Estate Agents Malaysia the illegal agents’ activities.

30 31 INDUSTRY UPDATES

benefits that we can offer. We are “I have also much concern for many of actively looking at increasing MIEA’s membership and will be tapping our senior colleagues with small practices into the existing pool of registered negotiators and agents. My personal and hope to continue to offer them the target is to increase membership by threefold. We will certainly carry assistance they need to optimise their greater influence with the authorities and regulatory bodies with a larger relevancy even in this digital age.” membership.

MIEA has been addressing issues of identifying and reporting bogus real What is in the pipeline in terms of estate agents. Have things improved training and special programmes for so far and what else can be done to agents? increase the awareness for homebuyers/ We certainly want to upgrade the investors? professionalism of our agents and are We have been working closely with looking at enhancing their personal BOVAEA to promote awareness development by offering courses amongst the public on how to and seminars to equip them with the distinguish between registered necessary knowledge and skills. This and bogus agents. Registered will boost the public’s confidence negotiators are required to always in their ability to deliver. We are carry their identifications and identifying strategic measures to list their membership numbers increase business opportunities given when advertising in the media. To the challenging market conditions. complement our efforts, RM2 million We will continue to work in closer was invested by BOVAEA in running an partnership with developers to extend integrated advertising campaign and our reach. I have also much concern PR initiatives to further increase public We are also looking at increasing for many of our senior colleagues with awareness. We are beginning to see our regional footprint through our small practices and hope to continue results as we increasingly see members membership with ARENA (Asean Real to offer them the assistance they need of the public insisting on agents Estate Network Alliance). We are part to optimise their relevancy even in this presenting their credentials, forcing of an 8-ASEAN country membership digital age. bogus agents and firms to step back. excluding only Brunei and Laos. We are organizing a convention/ What are the benefits of being an What is your outlook on the property exhibition that will take place in MIEA member? market this year? August this year that will form an ideal I would urge anyone who is involved Although property transactions are platform to showcase our property in the real estate agency business lower based on the NAPIC Property products in these member countries. to become a member of MIEA. It Market Report, the market has It will also expand and extend market protects their interest and offers a remained stable and can be expected opportunities for our members. The variety of benefits. The perks we offer to grow moderately as prices are final part is to increase the association’s in addition to invitations to attend holding well and most potential membership. To date, there are about training programmes, seminars and buyers appear to have the holding 2,000 registered estate agents and talks include member postings and power. Positive indicators include the 23,000 real estate negotiators (REN) advertising of listings. Benefits are narrowing of pricing between seller’s registered with BOVAEA. Hence, I want also very dependent on the size of expectations and buyer’s willingness to to engage both real estate agents and membership. The larger the size pay as well as healthy, growing interest REN to join the membership of MIEA. of membership, the greater the amongst foreign home buyers.

30 31

Latest data from iPropertyiQ.com depicts homebuyers’ transaction trends, 3.9% 3.9% product performance, rental preferences and a brief overview4.3% of the KL North’s4.3% 3.9% 3.9% KL NORTH: demographic. The areas4.3% covered in this4.3% analysis includes Setapak, , , Sentul, , , Jalan Kuching & Jalan Ipoh. 17.2% 17.2% Hotspots to 36% 36% 17.2% 17.2% 36% 36% watch RESIDENTIAL SNAPSHOT (Nov 2015 – Oct 2016) Percentage of transactions by building types (%) Reena Kaur Bhatt zooms 3.9% in on the lesser-known 4.3% residential enclaves 18.9% 18.9% 18.9% located north of the city 18.9% 17.2% centre. Area experts share 36% 19.7% 19.7% why localities like Sentul 19.7% 19.7% and Setapak are slowly Condominium Apartment Flat Terrace house turning into desirable Condominium Apartment Flat Terrace house Condominium Apartment Flat Terrace house neighbourhoods. Condominium Apartment Flat ServicedTerrace house residence ServicedOthers residence Others Serviced residence ServicedOthers residence Others 18.9% Total transactions – 1,736 *Transactions recorded were for secondary residential properties only.

19.7%

Condominiums took the lion share of secondary residential property sales Condominiumwith 36% or 625Apartment transactions.Flat At 19.7%Terrace and house 18.9%, apartments and flats came in Servicedsecond residence and third, Othersrespectively. Terrace homes trailed in fourth with 17.2% or 298 transactions.

Key figures for top 4 property types Total Median Y-O-Y Capital Asking Median Asking Rental Building Type Transactions PSF (RM) Growth Rental (RM) Yield (%) Condominium 625 RM428 -1.2% RM2,000 4.5 Terrace House 298 RM523 4% RM2,000 4.1 Apartment 342 RM358 6.6% RM1,300 4.7 Flat 327 RM266 12.6% RM900 6.4

Except for condominiums, the rest of median rental (RM). The figures the top performers recorded positive tabulated above were calculated based capital appreciation. Flats emerged on the supply of properties being as the most lucrative investment, listed on the iProperty.com website. providing homebuyers and investors The resulting asking rental yield was with an annual capital gain of 12.6%. obtained through the following formula Apartments provided promising – (Asking Rental Yield X 12 mths/ returns as well at 6.6% while terrace Median Price). houses registered more moderate Rental yields were somewhat similar returns at 4%. for all four products and ranged in Rental activity, on the other hand, the 4 percentile, albeit for flats which was studied based on the asking topped 6.4%.

34 PICK OF THE MONTH

Top 10 most transacted projects / neighbourhoods from the affluent neighbourhood of Median PSF Rank Project/Township Building type Transactions (RM) Mont’ Kiara. The neighbourhood is also just 10 minutes away from the Jalan 1 Flat 46 284 Duta Toll Plaza. 2 Teratai Mewah Apartment 39 381 Titiwangsa Sentral Condo (RM594) 3 Royal Domain Sri Putramas 2 Condominium 28 460 on the other hand is strategically

4 Wangsa Maju Seksyen 1 Flat 37 339 sandwiched in between various commercial components and 5 Wangsa Maju Seksyen 2 Flat 36 360 amenities. Localities located within 6 Terrace house 34 502 a 500m radius include the Sentosa 7 Greenview Apartment Apartment 31 222 KPJ Hospital, Kuala Lumpur Hospital,

8 Titiwangsa Sentral Condo Service residence 29 594 Vistana Hotel, Grand Seasons Hotel and the Titiwangsa LRT and Monorail 9 The Capers Condominium 29 663 Stations. 10 Sri Putramas Condominium 29 451 Whereas the highest priced project at RM663, The Capers is a newly- completed luxury condominium The sale of high-rise properties road, Jalan Kuching, thus generating in Sentul Raya, a commercial hub dominated the top 5 most popular a higher median per sq ft price of located in the heart of Sentul East. The projects. The top two projects, Taman RM460. developer, YTL Corp is building the Melati and Teratai Mewah are in Other projects recording higher than Sentul Skywalk, an elevated pedestrian Setapak. Royal Domain Sri Putramas average median prices include Taman walkway for easy linkage to the nearby 8.16% 2, on the other hand is a condominium Sri Sinar (RM502) in Segambut, which LRT and KTM stations, which further located along one of KL’s main trunk is located a mere few kilometres away boosts the property’s value.

16.6%

51.7%

What were people searching for? (%)

23.5%

8.16%

Condominium/Serviced residence Terrace/Townhouse 16.6% Apartment/Flat Semi-D/Bungalow

Data capturing the search trends of visitors to iProperty.com 51.7% revealed that the majority who were looking to purchase homes in KL North neighbourhoods had a hankering for condominiums or serviced residences. Almost a quarter or 23.5% were searching for 23.5% terrace or townhomes, 16.6% were looking for apartments or flats and only 8.2% were interested in purchasing semi-Ds or bungalows.

Condominium/Serviced residence Terrace/Townhouse

Apartment/Flat Semi-D/Bungalow

35 900 454

Population in 2010 According to Census

PICK OF THE MONTH 900 454

Population in 2010 According to Census

AREA DEMOGRAPHIC

KL North’s Population 500 501 Estimated population 2016 900 454

Population in 2010 According to Census 1.47%

Estimated annual growth 500 501 2010 - 2016 Estimated population 2016

1.47%

Ethnicity Estimated annualNon-Malaysian growth 6.81% Others2010 - 2016 1.80% 500 501 Indian Estimated population10.51% 2016

Malay 1.47% 49.65%

Chinese Estimated 31.23% annual growth 2010 - 2016

Malay Chinese Indian Others Non-Malaysians

36 37 REALTORS’ PERSPECTIVE

What do the realtors say? Opportunities abound in KL North • A comprehensive mixed in Setapak which features Ascenda, development closely integrated Bennington and Curvo Residences with Titiwangsa LRT. will offer its residents a dizzying • The major district centre at Wangsa array of ‘club-house’ facilities and Maju shall be intensified and its amenities. These residences will be connectivity to the LRT station will complemented by a hotel, and shops be strengthened. and cafes as well as a full-fledged • The redevelopment of Sentul market sports complex located just across and provision of medium and the development. Surrounding malls high-cost housing and commercial include Setapak Central, Jaya Jusco, components. All squatter areas KELLIE TAN SU FONG AEON Big and Wangsa Walk. around Sentul/Sentul Timur LRT Probationary Real Estate Agent Recently completed and ongoing stations are to be redeveloped Polygon Properties Sdn Bhd upgrading of transportation as self-contained residential infrastructure further increases the neighbourhoods. appeal of KL North neighbourhoods. The newly opened Phase 2 of Duta- A few developers have already Condominiums have always been Segambut Highway and Damansara- begun building new shop lots along the preferred product in residential Ulu Kelang Expressway (DUKE), Jalan Sentul Pasar and new terrace link neighbourhoods within KL North. In as well as a flyover and a four-lane homes are popping up in the Sentul the recent few years, following Bank carriageway to and from the Setapak vicinity. Negara Malaysia (BNM)’s tightening area is a welcome relief as these This development blueprint by of credit lending requirements, many structures help alleviate the traffic DBKL has piqued the interest of many developers with high-rise projects congestion in Setapak, Wangsa Maju, renowned developers to venture into in the area were offering great Setiwangsa and Titiwangsa besides the area. Upcoming developments promotions and easy ownership enhancing connectivity to KLCC. include EkoTitiwangsa by EkoVest, schemes to draw in purchasers. Perhaps the most exciting facet Lakeville by Mah Sing and Skywawani I Also, at a time where house prices of KL North’s future is that the area & II by SkyWorld, Maxim Citilights and are escalating faster than median is currently undergoing a landscape One Maxim By Platinum Victory as well incomes, high-rise units including upheaval. As detailed under the as Sentul Village and Sentul Point by condominiums, apartments and flats Kuala Lumpur 2020 Structure Plan, UOA Group. Mah Sing Group Bhd will pose a lower entry point to home- Wangsa Maju, Titiwangsa and Sentul also develop a RM1.3 billion housing seeking urbanites. have been identified as strategic project, M Centura, fronting Jalan Even for those who can afford it, not redevelopment zones and are seeing Sentul Pasar. many are willing to purchase high- progressive plans. Examples include Aspiring homebuyers will want to end products like bungalows as there urban renewal projects such as the consider Segambut as well. Located are quite a few reasonably-priced River of Life Rejuvenation Project just next to Sentul, this area is at the residential options in KL North that and the upgrading of the Titiwangsa receiving end of a few properties that offer the complete package to those Park. Kuala Lumpur Municipal Council offer exciting facilities, design concepts looking for comfortable city living (DBKL) is also promoting more and price points. Some of the offerings experience. intensive development along transit include Scenaria Residences by UOA For instance, the under-construction nodes, particularly along the PUTRA Group and The Era Duta North by JKG integrated development SkyArena LRT line. These include: Land.

36 37 REALTORS’ PERSPECTIVE

An overlooked residential hotspot no more

“There are various new projects here that are popular in demand among property purchasers, mainly because these properties offer a lower entry point despite being within a convenient EKEN NG distance to the city centre.” Project Marketing Director The Trend Realty

Those working in KL will not go wrong opened Giant Hypermarket located The Quartz WM by Singapore-based purchasing or renting a property in right beside the MRR2 adds shine to developer, Beverly Group. The freehold KL North, especially in the vicinity of the locality. township is offering affordable high- Setapak and Wangsa Maju. The area’s The Tunku Abdul Rahman College rise residential units where prices for biggest selling point will be its location (TARC) further augments property a 690 sq ft apartment starts from - a mere 10km away from KLCC, these demand in the neighbourhood; RM410,000 ranging up to RM640,000 neighbourhoods are served by the graduating students who work in the for a 1,135 sq ft apartment. Sultan Iskandar Highway (formerly Klang Valley will continue renting Other notable developments include Mahameru Highway), the Middle Ring in the area or upgrade to purchase Parcel D7 @ Lakecity Danau Kota by Road 2 (MRR2) and DUKE. a property of their own here. The Platinum Victory and Skyawani 3 by An added edge is the supporting numerous eateries, places of worship, Skyworld Development Sdn Bhd. rail network that connects directly primary and secondary schools makes Looking ahead the future MRT Line to both KL Sentral and KLCC. With 5 it all the more appealing for young 2 which will introduce a few stations LRT Stations in Setapak and Wangsa couples to settle down in the area. in the area; Jln Ipoh, Titiwangsa, Maju itself, namely Taman Melati, There are various new projects here Sentul West & Hospital KL is poised Desa Setapak, Putra, Sri Rampai and that are popular in demand among to enhance the livability and growth Setiawangsa; it is no wonder that property purchasers, mainly because of KL North. First-time homebuyers the properties in these two areas are these properties offer a lower entry and upgraders should look to explore popular among Gen-Ys, young working point despite being within a convenient properties in the surrounding area professionals and families. Commercial distance to the city centre. now – the significant value growth of components such as the Festival City For instance, one of the promising these homes in a few years time is only Mall, Wangsa Walk Mall and a newly- developments in Wangsa Maju is inevitable.

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 listed at iProperty.com. 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.

38 PB Selangor Sub-Sale 2016 Property Market

iPropertyiQ.com data (November 2015 - October 2016) SELANGOR SUB-SALE MARKET: A closer look Premendran Pathmanathan, Data Services GM, iProperty Group provides a brief summary of the secondary residential property sub-sector and highlights key findings including year-on-year price movements, transaction patterns and popular products.

1.pdf 1 6/21/17 5:37 PM Transaction volume by state (%)

In terms of sales volume, Selangor 28,467 Malaysia Transaction was the best-performing state, sold Volume garnering 31.7% or 28,467 transactions (-20.4% y-o-y) RM89.8k out of the country’s market share. (-17.6% y-o-y)

Source: JPPH

2.pdf 1 6/20/17 10:09 AM Overall, the total number of Malaysia transactions Y-O-Y change (%) transactions in Malaysia recorded a 17.6% decline when compared with the 6.7% year before. Even though Selangor recorded the highest transaction -12.4% -18.4% -20.4% -28% volume, its Y-O-Y movement was slightly lower than the country’s average at -20.4%. It is interesting to note that Penang (-12.4%) was the only major state which performed better than Malaysia’s average. KL, Selangor and Johor performed below average. Curiously enough, Kelantan was the Penang is the only primary market performing only state which recorded a positive better than the country overall Y-O-Y change trend, its Y-O-Y transaction movement increased by 6.7%.

40 41 iPROPERTYiQ.COM

Most transacted areas in Selangor

Zooming into Selangor, the most popular areas were ranked as follows: 1. Klang 6. Kajang Selangor 2. Shah Alam 7. Seri Kembangan Transaction Volume 3. Puchong 8. 4. Ampang 9. Subang Jaya 5 28,467 5. Cheras 10. Kapar Bought in (-20.4%) These top 10 areas made up 50%, or roughly 14,234 transactions out of the sales in Selangor.

4.pdf 1 6/21/17 3:13 PM Selangor transactions Y-O-Y change (%)

15.4%

Setia Alam which recorded 688 sales compared to 596 previous period is the only area in Selangor which did not Transaction volumes fell in all areas experience a drop in transactions. Is price the factor? except for Setia Alam, which achieved

Overall Selangor Y-O-Y change (-20.4%) 35.4% a 15.4% increase in sales, from 596 to 688 transactions. This anomaly is due to the price factor, which can be seen in the Selangor capital growth YoY slide. Nevertheless, 11 other areas in Selangor performed better than the state’s average of -20.4%. (as shown in chart above). Only 4 areas in the top 10 spots in Selangor performed above average; namely Subang Jaya, Cheras, Petaling

Top 10 transacted areas in Selangor Jaya and Shah Alam.

40 41 Capital growth performance

3.pdf 1 6/20/17 10:56 AM

Malaysia capital growth Y-O-Y change (%)

17% (RM266 psf) Johor median psf growth is more The growth in capital appreciation than 2x Selangor and 4x KL. for each state is measured by the annual change in median prices per Overall Malaysia (+8%) sq ft. All states recorded a growth in median prices except for Sabah. When it comes to property appreciation, 7.4% (RM321 psf) Selangor fared below average. Its Y-O-Y capital growth at 7.4% is lower

3.8% (RM471 psf) than the country’s overall growth of 8%. Johor leads the pack with 17%, more than double that of Selangor’s performance and more than quadruple of Kuala Lumpur’s 3.8%. Johor’s median price per sq ft increased to RM266 per sq ft from RM221 per sq ft.

5.pdf 1 6/21/17 3:16 PM

Selangor capital growth Y-O-Y change (%)

+23% (RM257 psf)

Overall Selangor Y-O-Y change (+7.4%)

Setia Alam experienced the biggest drop in value in Selangor.

-8.5% (RM368 psf)

Top 10 transacted areas in Selangor PJ (0.1%) and Subang Jaya (2%) is the only other 2 areas in Selangor that has experienced a value drop as well

Puncak Alam emerged tops in Selangor in terms of annual capital growth at 23.4%. Three areas; Kapar, Seri Kembangan and Klang obtained above average capital appreciation values with 14.4%, 10.9% and 10.7%, respectively. Surprisingly, two of the top 10 areas, Subang Jaya and Petaling Jaya, suffered capital depreciation as their values declined by 0.14% and 1.7%, respectively. On the other end of the spectrum, Setia Alam recorded a 8.5% drop in property values, from RM397 per sq ft to RM368 per sq ft. The significant dampening of unit prices is the main reason for the outperformance of property sales in Setia Alam compared to the other areas in Selangor.

42 43 iPROPERTYiQ.COM

Top products

6.pdf 1 6/21/17 3:17 PM INTEREST - Most popular products based on leads 50% lead to agents Terrace homes ranging between 10.8% 1,500-2,000 sq ft were the most popular product type aspiring 8.8% homebuyers were searching for. 8.3% 8.2% 10.8% of visitors to iProperty.com

7.3% were interested in this kind of property and dropped enquiries to real estate agents to explore more

4.8% about the property. Coming in second and third respectively were condominiums ranging between 1,000-1,250 sq ft and apartments ranging from 750-1,000 sq ft. The top 6 property types searched for above represents 50% of the total leads sent to agents from Nov’15- Terrace Condo Apartment Terrace Condo Flat Oct’16.

SOLD - Most popular products sold compared to leads received

Sold This graph reveals that there is a 12% (3.3k sold) 11% Leads gap between what home buyers are interested in and what they ending up purchasing. The reasons for 8% the discrepancy between demand and actual sales could be due to a 5% combination of factors, especially affordability. Besides that, the percentage of listings on 1% iProperty.com for that certain property type is low when Flat Apartment Terrace Terrace Terrace compared to the existing supply 500-700 SF 750-1000 SF 1500-2000 SF 750-1000 SF 500-750 SF RM100k RM255k RM625k RM278k RM192k out there. Hence, that is why the number of leads at 5% is much lower than the actual sales of 12% (3,300 property type which garnered the as the third most popular property units sold). The median price of this most leads, terrace homes in the bought. The median price for this flat category was RM100,000. The range of 1,500-2,000 sq ft emerged product type stood at RM625,000.

DISCLAIMER: The source of brickz.my 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 listing & leads data is from agents’ listings listed at iProperty.com. 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.

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Find out more! +603 2264 6888 [email protected] www.brickz.my Kuala Lumpur property market 2016/2017 review Rahim & Co reports latest market activities and trends for both the residential and office sub-sectors.

RESIDENTIAL Ket Facts (as at 3Q 2016)

(Source: Rahim & Co Research, JPPH)

The residential market in Kuala be slower. Prices of these ‘branded Due to higher residential prices for Lumpur showed a significant drop in residences’ can reach higher compared those located within the city centre, transaction volume and value in the to a typical high-end highrise new residential projects are being seen first 3 quarters of 2016 compared residential unit. For example, price per in the western, southern and northern to the corresponding period in square foot of high end condominium corridor of Kuala Lumpur. Several the previous year. Total supply within KL city centre currently ranges new developments have opened the also decreased albeit by smaller from RM1,100psf to RM1,800psf. public’s eyes to the potential of owning percentage, due to conversion of use When a high rise is featured as a or investing in residential units located or redevelopment. ‘branded residence’ with an established outside of the city centre while still High-end residential segment within name, its price per square foot is able remaining within the boundary of KL city centre is seen to have stepped to reach more than RM2,000psf. Federal Territory Kuala Lumpur. Some down a gear with some upcoming Hence, many are developing their notable areas are Cheras, Wangsa projects still under construction after integrated projects with this concept in Maju and whilst established being launched for many years. Several mind. A few popular ones are 8 Conlay, matured areas seen are in , to note include The Manhattan along Four Seasons and St. Regis. St. Regis and . On landed Jalan Yap Kwan Seng and Tribeca was officially opened in 2016 and is properties, generally in Kuala Lumpur, along Jalan Imbi, both expected to be currently selling at RM2.1 million for its prices for 2-storey terraced type have completed in year 2017. Nevertheless, standard unit of 820sf. reached RM600,000 to RM950,000 new projects were still being launched in 2016, for example, Stonor 3, 8 Kia Kuala Lumpur Residential Property Price Trend & House Price Index (2010-2016) Peng and Lucentia Residences of Phase 1, Bukit Bintang City Centre. SP Setia unveiled its residential tower to be built within KL Eco City known as ViiA Residences comprising 326 units to be priced from RM980,000 for units with built-up areas ranging from 636sf to 1,252sf. Observing the tough and competitive market, take-up rates for new projects especially those targeting the high-end market are expected to (Source: Rahim & Co Research, IHRM)

46 47 RESEARCH DATA

for a standard unit. There are few preference. Moreover, the increasing the government on top of projects upcoming landed housing projects as availability of infrastructure adds on launched by private developers in the there is limited land for development to the value of buying a residential market. Some projects have undergone in Kuala Lumpur. These few projects property as it facilitates those who balloting process whilst others have include Residensi Gembira 33 in travel into the city centre either for been launched and currently have selling 2-storey terraced work or leisure. enough eligible buyers to fill in most houses from RM1.09 million, Impiana As a developed city, there is concern of the units. Price of these houses Hills@ Cheras selling 2-storey terraced for affordable housing to be allocated are tagged around RM200,000 to house from RM538,000 and Verge for those in need. At present, more RM300,000 on average and are mostly 32@Melawati selling 2-storey semi- than 11,000 units of houses are being apartment types. detached houses from RM2.498 million worked on under various channels by and 2-storey detached houses from RM3.959 million. In matured residential areas like Bukit Bandaraya, Bukit Damansara and , prices of 2-storey terraced houses continue to hold strongly. In Taman Tun Dr Ismail, a 2-storey terraced house Upcoming Landed Residential Properties in Kuala Lumpur can fetch about RM1.6-1.8 million whilst a 2-storey terraced house in Bangsar Baru and Bangsar Park reaches about RM2.0 million to RM2.5 million. In KL Sentral, a key transportation hub in Kuala Lumpur, Sentral Suites by MRCB comprises 3 towers housing 1,434 units of serviced apartments

saw its Phase 1 launched in 2016. The (Source: Rahim & Co Research) phase comprises a total of 458 units are priced from RM545,000 with built up areas ranging from 651 to 1,166sf. Affordable Housing Projects in Kuala Lumpur This project slated for completion in year 2021. Besides luxury trends observed for new residential projects within the city centre, other upcoming projects located at the fringe of Kuala Lumpur are also offering various concepts such as Green Building Index (GBI) rated projects, dual key concept for investment, gated & guarded and integrated facilities. Some projects adopting these concepts include The Ruma, Viia Residence@KL Eco City, KL Gateway Residences in Bangsar and Avantas Residences along Old Klang road. More facilities are being introduced in suburban areas providing more option for buyers to choose residential products that are more suited to their (Source: Rahim & Co Research)

46 47 PURPOSE BUILT OFFICE Key Facts (as at 3Q 2016)

be completed in year 2017 are Menara SuezCap 1 & 2@KL Gateway, Menara Ken@TTDI and Signature Offices@KL Eco City. Considering the additional buildings expected to be completed this year coupled with global economic (Source: Rahim & Co Research, JPPH) challenges and their influence to the local market, average occupancy and Supply of purpose built office space completed soon. The office towers are rental rates of offices will be under in Kuala Lumpur stands at 90.76 million rated with Green Building certification further pressure - observing the sf as at 3Q 2016, growing slightly by and currently asking for RM6.00psf. decline of the occupancy rate to 79.7% 0.6% in the first 3 quarters of 2016 In , The Vertical offices recorded as at 3Q 2016 which is below compared to the similar period in the were completed in 2016 and is 80.0%. previous year. The Golden Triangle & currently offered for rent at RM6.00psf. Some offices offer lower rentals KLCC areas remain as the main hub Several well-known international especially the older stock within within the city although a number corporations have successfully set foot strategic locations. Rental rates offered of developments in the pipeline are in Kuala Lumpur such as Facebook for offices in this category could be as targeting for an expansion of the at KL Sentral and World Bank’s new low as RM3.00psf to RM5.00psf. For business district of nation’s economic office in Sasana Kijang located within offices in good locations, international capital. Rental rate of offices in this Bank Negara Malaysia office compoun. grade buildings with established area for good buildings with modern More than 7.17 million sf of office space tenants remain in the lead for lease façades with up to date facilities such are still under construction in Kuala preference among tenants with good as Green Building accreditation and Lumpur, mostly located within the city reputations and requirements to be Multimedia Super Corridor (MSC) are centre. Some office towers expected to located in prestigious addresses. able to fetch rentals in the range of RM7.00psf to RM8.50 depending on Existing Supply & Occupancy Rate of Purpose Built Offices in its location. Higher rentals are seen Kuala Lumpur (2010-3Q 2016) for offices within the KLCC compound and can reach between RM9.00psf to RM13.00psf. A few office projects near KLCC area to note are Aurora Tower, Cititower and a new tower next to KL Convention Centre under KLCC-Sapura JV. Office towers within KL Gateway known as Menara SuezCap 1 & 2 are available for rent and expected to be

(Source: JPPH)

48 49 RESEARCH DATA

NOTABLE ANNOUNCEMENTS stations in Putrajaya, Seremban, Ayer Express Way (NPE). It is to be built / ACTIVITIES IN KUALA Keroh, Muar, Batu Pahat and Iskandar at an estimated cost of RM52 million LUMPUR Puteri. over 18 months and expected for • Kelana Jaya and Ampang LRT Line • MRT (Phase 2) is expected to begin completion in year 2018. Extension began operation in middle operation in July 2017. The 30km • Kumpulan Wang Persaraan 2016. Phase 2 involves 19 stations between (Diperbadankan) (KWAP) had • The RM9bil Light Rail Transit Line Semantan to Kajang and part of purchased Kuala Lumpur’s Menara 3 (LRT 3) project from Bandar the RM23 billion MRT project which AIA Cap Square (41-storey Grade A Utama to Johan Setia, Klang aims spans 51km with 31 stations. office building comprises 601,796 sf for completion in year 2020. It will • Phase 2 of the Duta-Ulu Klang of net lettable area) from Germany’s have 27 stations with 10 park and ride Expressway (DUKE), a 16km link Union Investment Real Estate GmbH facilities. connecting the east and west of (UIRE) for RM511 million (5 October • Prime Minister Datuk Seri Najib Tun the capital city is estimated to be 2016) Razak launched the first phase of completed by end 2016 and fully • IGB Corp Bhd has entered into the Sungai Buloh-Kajang (SBK) Mass operational in 2017. The RM1.18 billion a conditional sale and purchase Rapid Transit (MRT) in December DUKE Phase 2 comprises 2 additional agreement with Ventura International 2016. links, Tun Razak Link (TR link) and Sdn Bhd (VISB) on Renaissance • Malaysia and Singapore had signed Sri Damansara Link (SD Link) to be Kuala Lumpur Hotel for RM765mil in an agreement to build the Kuala connected to the existing DUKE 1. August 2016. Lumpur-Singapore High-Speed • IJM Land Bhd with its joint-venture • MRCB-Quill Real Estate Investment Rail in December 2016. It will be a partner, Amona Development Sdn Trust (MRCB-Quill REIT) is buying 350km bullet-train line and expected Bhd announced the construction Menara Shell in KL Sentral from to be completed in 2026. Both of a 2.8-km Pantai Sentral Park Malaysian Resources Corp Bhd countries have agreed that the HSR interchange. The interchange will link (MRCB) for RM640 million. will have 8 stations, with terminals the Pantai Sentral Park mixed-use in (Kuala Lumpur) development and the - and Singapore, and 6 intermediate Kerinchi area with the New Pantai

DISCLAIMER: The data above represents the findings of Rahim & Co and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

48 49 URBAN SLUMS: A growing concern

Reena Kaur Bhatt explores a potential downside to the influx of high-rise residential properties in the Klang Valley.

There is no denying that the mushrooming of residential strata developments within the affordable range in the city centre is good news for young working adults and aspiring homeowners. Given some Malaysians’ lackadaisical attitude over maintenance, however, one has to wonder could these condominiums/ apartments possibly turn into urban slums? A KL migrant myself and having being a tenant here for the past 3 years, I welcome the many residential options available within the Klang Valley. Nevertheless, I cannot help but note a worrying trend – many mid-cost condominium units in my area are quick to lose their shine in the following few years upon completion. Though it is nowhere near as dire as the Indian shanty towns depicted in the Hollywood blockbuster, Slumdog Millionaire; these strata developments are slowly taking a turn for the worse. My concern is not an isolated one. During the recent REHDA Property located in between a 4-star hotel parking lots and the corridor lights on Forum 2017, an industry expert and a private hospital, there’s an LRT half the floors are not working. highlighted a similar issue – the and monorail station within a 400m The building has not been repainted emergence of slums in Malaysian urban distance and KL Sentral is a mere and can be described as weary. I have areas is real and a trend which could 10-minute drive away. also observed that the number of local escalate further if we are not careful. Nevertheless, though completed a tenants has dwindled considerably and mere 4 years ago, the condominium’s the surrounding area has developed a An urban renter’s concerns elevators are constantly out of service, somewhat ghetto vibe. Even worse, I The condominium unit in which I the gymnasium has a grungy feel to it no longer feel comfortable and safe in am renting - a 170 sq ft room with a and the sauna and steam rooms have my own residence. It has gotten to a monthly rental of RM800 is a prime been out of service for the past 2 years! point where I have to frequent the gym example. Here I am paying good Furthermore, when it rains heavily, the at odd hours to avoid being harassed money for a residential unit that is water level can reach ankle-deep in the by shady foreign tenants.

50 51 POINTS OF INTEREST

“This has resulted in properties being rented out to less than savoury characters or renters with no proper credentials and background and even cramming up to 10 tenants into an apartment unit.”

Why is this happening? - An expert’s to matters such as cleanliness and insight public manners,” he said. Siva Shanker, Axis REIT Managers Bhd Furthermore, due to overcrowding, Head of Investments and Malaysian common facilities such as elevators, Institute of Estate Agents Immediate swimming pools, sports facilities, etc Past President says that the slum will be subjected to heavy wear and effect that we are seeing in many tear, and thus are often not accessible strata developments at the moment to other owners. There are also issues SIVA SHANKER is a knock-on effect of the rampant of general cleanliness, public safety, speculation during the 2010-2013 inadequate fire safety measure and period. overall security in such projects. “Those years when the Developers Siva shared, “Speculators are not Interest Bearing Scheme (DIBS) was the only one to be blamed, current allowed, coupled with promises from genuine homebuyers seem to bite ‘property gurus’ on how investors off more than they can chew too. could make money out of thin air from Gen Ys especially are attracted to ‘no money down’ properties, fuelled lifestyle properties which offer a slew a spike in demand for properties of facilities and services. Most of these that people neither could afford nor are serviced apartments which many needed,” explained Siva. do not realise are actually commercial- This ‘artificial’ demand encouraged titled properties. Thus, residents will developers to build more properties have to pay commercial rates for in ‘hot’ areas, which were quickly utilities such as water and electricity snapped up. These investors are now as well as for quit rent and other taxes. struggling to make their monthly With this ‘unexpected’ cost, what repayments as it is tough to secure makes you think that these owners will tenants in a slowing economy. keep up with their service charges?” Desperate times calls for desperate It is another blow to your wallet measures, hence a growing number when you factor in all the fancy of property owners are getting more facilities. The property’s selling price desperate to rent out their properties might have been within the affordable in order to avoid foreclosure, Siva range, but your Japanese koi pond, laments. Rock Garden, Sky Gym etc call for “This has resulted in properties considerable upkeep which translates being rented out to less than savoury to high monthly maintenance fees. characters or renters with no proper It is no wonder that many strata credentials and background and even management committees face a high cramming up to 10 tenants into an number of service charge defaulters. apartment unit. Sometimes, these The consequence – your building will tenants tend to be foreign workers, be undermaintained and will appear who bring with them their less than run-down in a few years, added Siva. satisfactory standards when it comes

50 51 POINTS OF INTEREST

“Strata property management is always outsourced to ‘budget’ managers who do not have valuable hands-on experience and the necessary technical knowledge related to SARKUNAN SUBRAMANIAM building management.”

Lackadaisical attitude is a problem Besides that, lax development Sarkunan Subramaniam, Managing policies and regulations could Director of Knight Frank Malaysia further worsen the urban slum threat believes that a core factor for strata among low-cost developments in the slums is the apathetic mentality when Klang Valley. For instance, the low- it comes to property management. cost People’s Housing Programme “Malaysians seem to think that only (PPR) flats have been abused by high-end residences and commercial unresponsible parties for many years properties call for high property now. management standards,” laments According to Sarkunan, these Sarkunan. homes are being sold by recalcitrant There is no emphasis on hiring individuals in certain political parties to qualified property managers for the their friends and family who in turn rent maintenance of mid-cost and low-cost out these units to foreigners. There is strata developments. Strata property no central agency or local council body management is always outsourced to who is overseeing the sale of these tolerance of small acts of disorder ‘budget’ managers who do not have residential units. creates an environment that leads to valuable hands-on experience and the Also, the lack of enforcement means rising amounts of serious crime. Siva necessary technical knowledge related that most tenants can get away with says that the same concept applies to building management. not paying rent, let alone management to curb the deterioration of strata Also, property management fees. This unchecked behaviour has developments in urban areas. is almost always not taken into led to most of the PPR flats turning Citing an example, he said,” There is consideration during the planning into ghetto areas – most of the a law that only registered real estate stages of development for most developments are riddled with horrible agents are allowed to sell properties projects in Malaysia. Instead, the living conditions as well as vandalism but illegal brokerage is still rampant in emphasis is on cutting costs as well as and social issues. “Not only will real the country as enforcement is far from location and aesthetics of the building estate values of surrounding properties satisfactory. To date, no offender has that can attract buyers. become depressed, but these areas been successfully prosecuted for this That is why after a few years, will be prone to crime and gangsterism offense.” various problems such as building too, further negating the quality of “We must make a concerted effort defects, facilities disrepair and life in the neighbourhood,” cautioned to overhaul our nonchalant attitude higher consumption of utilities crops Sarkunan. for all rules and regulations relating to up. “Seeing all these problems, the property industry. Only then, will residents will not want to pay their Need for an overhaul in mindset the public take strata living and their service charges even more, further Many would have heard of the broken responsibilities as a landlord, tenant or compounding the maintenance windows theory but most do not grasp homeowner seriously,” recommends problem,” explained Sarkunan. what it actually means. It states that Siva.

52 PB POINTS OF INTEREST

‘Live-Work-Play’ rental properties – Will it fly in the Klang Valley?

People would say that college years are the best time in a person’s life and most adults often reminisce about their dorm days. What if you could relive the good times?

- REENA KAUR BHATT

The sharing economy has extended to the real estate market and its latest innovation, co-living properties could fulfil the desires of renters who are looking for more than just a roof over their heads. Rental properties which encourage communal living are mushrooming in major European cities, especially in the US. Co-living startups like Common, Open Door and Pure House are revolutionising the rental market by creating shared housing spaces that offer a sense of community which is sorely lacking in a standard leasing arrangement. These properties which target urban Gen Y, young working professionals and university students have been billed as “dorms for grown-ups”. They typically feature fully furnished bedrooms with shared kitchen and living areas, as well as a lengthy list of on-site amenities; all which facilitates residents’ engagement. Tenants will have to apply for ‘membership’ and will be selected based on compatibility, shared interests, etc with the other residents. Considering Malaysian youths’ fascination for all things ‘lifestyle’, we spoke to a few Gen Ys to find out if this concept will gain traction here.

PB 53 A realtor’s insight:

Not for us but great concept for expat community

Rohit Singh, 30 Real estate negotiator, Jann Properties Malaysian Gen Ys have embraced the 21st century with much gusto – they live on social platforms such as Instagram and YouTube A growing number of and most have dozens of apps on their phones. Nevertheless, the traditional norms of family, marriage and culture are more deeply foreign talents are coming entrenched here than in western countries. Our western counterparts are expected to leave home and into Malaysia, taking up venture out on their own once they turn 18. Local youth, on the other hand, are much more attached to their hearth and home. Culture job offers in IT, Graphic and religious practices are particularly prominent in Malaysia and the one thing that takes centre stage in all of this is family. When Design, HR or to work you already have your sense of belonging and connectivity fulfilled, with a start-up. These are committing to a living situation where most time is spent with your roommates seems futile. not your typical C-level Even for those who prefer independence would hesitate to live in such a place out of respect to their parents and their conservative staff but young Gen Ys beliefs. I for one know that if my female relative were to invite her parents over to such a place, they would get a shock seeing her who are go-getters who sharing the kitchen, bathroom and living area with ‘random’ males. On a side note, this housing concept shows much promise for the work hard and play hard. expat community. A growing number of foreign talents are coming into Malaysia, taking up job offers in IT, Graphic Design, HR or to work with a start-up. These are not your typical C-level staff but young Gen Ys who are go-getters who work hard and play hard. Socialising and interaction out of work top their list and most will want to absorb and experience the local cultures, food and travel destinations as much as possible. Hence, this co-living option which provides an avenue for them to meet and bond with like-minded individuals and to engage in transformative experiences together will prove ideal. In fact, there are already expat ‘rental properties’ in areas such as Bangsar South, Jalan Ampang, Mont Kiara and Hartamas. These, however, are your cookie-cutter apartments; should developers or management companies create more flexible apartment complexes or bungalows as described above, I am sure the demand will be strong.

54 55 POINTS OF INTEREST

The millenials say:

Globe-trotting teacher: Your local young professional – University student: Willing to give it a test run Yes if all boxes are checked If not for cultural challenges, ‘maybe’

Victoria Akiew, 27 Ying Ning, 25 Talha Mushtaq, 20 English Teacher Lawyer International Student It is true that we are a friendly lot Personally, I think that this is an I think it’s a nice way to bring people and appreciate our country’s diverse interesting concept considering that together. People living in these places, cultures, but when it comes to living in this day and age, many of the young I imagine, would feel a better sense of spaces, Malaysians still prefer to keep it working Gen Ys crave the interactions belonging as they share similar ideas private. Frankly, most local millennials and college/university experience and sentiments. A big but, however, might find the concept of living openly they once had. This concept allows the would be race and social beliefs. You with other people tiring. young working Gen Ys to have the best can share the same interest say in The idea is very attractive, especially of both worlds, “adulting” with peers. football, spicy food or theatre but you if you are a single, young working Provided that the rental is competitive, might not understand that I have to professional. It is just that many I would stay in such a property. The pray five times a day or that I can only Malaysians are bogged down by amount of rent that I will be willing to eat Halal food. their jobs, daily commute and family pay depends on the size of the unit in Pursuing an activity together for a obligations as it is. Few in the group of question as well as the facilities that few hours is different to the spending people who can afford such a rental would be made available. The facilities the majority of your waking hours in accommodation would have the that I would want to see are a gym, a a shared living space. You would not luxury of enjoying a complete work-life swimming pool and perhaps a shared want your daily habits to restrict the balance. lounge area. A well-stocked library other residents’ enjoyment as well. I for one, wish to keep socialising would be welcomed. Maybe if there is a comprehensive separate from my daily activities. On In the event the property is screening process in place where weekdays, I would just want to come located in a central area with public potential residents are authentic in home, shower, grab some food, read transportation, it would be ideal. Ample describing their wants and needs, as my book or catch up with an episode of parking space wouldn’t hurt either. If well as dislikes, then I would love to try the latest series I’m watching. I can cut out commute time to work living in such a place; as long as the Nevertheless, foreigners will and to ‘meet-up’ sessions, I would be rent is affordable of course. welcome such a living arrangement. As swayed to rent such a property over a they are new to the country, it will be a run of the mill rental unit. By default, an fantastic way to encourage friendship. I apartment building will work better as I have lived and worked in the UK, China am unsure as to how this living concept and Spain; in each country I rented would operate in a bungalow setting. ‘hostel-like’ accommodation that In terms of potential challenges, the was somewhat similar to a co-living maintenance of the unit might be an property. As I was new to the country, issue. How would the management it was a fantastic way to meet some of the rental property be dealt with amazing people and build friendships. and who gets the power or authority? Ultimately, however, I am willing to There must be a manager of sorts give this rental accommodation a shot, in place to take care of the realistic given that the price is right and within parts of shared accommodation such my budget. I am open to the idea of as facilities maintenance, cleaniness, tweaking my lifestyle – as long as you disputes resolution, etc. I would not provide me with an attractive rental want to see the competitiveness of my rate. rental unit being affected.

54 55 Is RENT-TO-OWN the answer to home ownership?

With the property market Let’s face the elephant in the reaching the bottom of room, shall we? For most Gen Ys out its cycle, the Rent-to-own there, obtaining a home loan in the concept may just be the current economic condition seems like ‘Mission Impossible’. When you win-win ownership model cannot purchase a house, rent instead, for both developers and some people would advise. However, consumers. unbeknown to many Malaysians, there is a third option available – the rent-to- - REENA KAUR BHATT own (RTO) scheme. The RTO concept operates based on a lease-purchase contract, between a buyer and developer. The buyer will Why is RTO necessary? first rent a property from the developer Traditionally, a RTO house is designed with an option to purchase at the end for those in the lower income groups of the contract period, which could who could not afford to buy a house range from 20-30 years. There is also or would not be eligible for any form an option fee involved which must be of housing loan. Such houses were paid by said buyer; a typical figure is normally low-cost or medium-cost roughly 5% of the property price. housing units including the Program In RTO deals, a certain percentage of Perumahan Rakyat (PPR) homes. the monthly rent paid will be credited However, it is glaringly obvious that to the property (future) purchase, i.e even the medium income segment savings accrued for the property’s in Malaysia are finding in difficult to down payment. Provided the tenant buy their own homes. This position is (buyer) does not breach the terms of documented in the latest 2016 Bank the RTO, the unit shall legally belong to Negara Report which stated, “Since the tenant at the end of the period. 2012, the increase in house prices in Currently though, only a handful of Malaysia has outstripped the rise in developers are offering homebuyers income levels. Consequently, prevailing such a scheme. Most who are trying to median house prices are beyond the assist home buyers are only providing reach of most Malaysians.” loan bridging for the end financing HBA believes that a wider and more (down-payment) of the property holistic RTO is required to include purchase. even the middle-income segment in Chang Kim Loong, Secretary Malaysia. The new RTO segment must General of National House Buyers accommodate the needs of up to Association (HBA) is championing 80% of the population {low-income for the scheme’s extensive adoption, segment (B40) + middle-income group particularly for mid-priced homes. (M40)}.”

56 57 POINTS OF INTEREST

Benefits of RTO A typical RTO is supposed to provide a lower entry cost to own a unit and a lower monthly cost of home ownership as the • Tenant does not need to pay a hefty 10% down-payment to secure the unit. • Legal fees and stamp duties for tenancy are typically cheaper compared to that of loan agreements and Sale and Purchase Agreement. • Monthly RTO rentals should be cheaper compared with prevailing market rentals and/or equivalent monthly loan instalments for a similar non-RTO housing unit.

This scheme provides long-term home ownership to the wider population and various economic benefits could be derived from developing RTO units including employment opportunities throughout the supply chain besides ensuring long-term economic prosperity.

RTO is the knight in shining armour, not loan bridging HBA is strongly On a side note, HBA is strongly against developers being allowed to provide loan- bridging financing or Differential sum Financing (DF) to house buyers as it is really against developers just “A wolf in sheep’s clothing”. This financing scheme will only encourage some developers to further sell being allowed properties at higher prices to naïve first-time buyers and property speculators as these developers will have additional avenues to ‘assist’ buyers who cannot get to provide loan- the full 90% financing. The government should not encourage such a scheme; otherwise, they may be accused of being the developers’ biggest marketers. bridging financing The terms of DF only require the borrower to service interest for the first 3 years or Differential sum of the loan followed by a bullet repayment of the entire DF at the end of the third year. By only having to service the interest and not the principal amount, such Financing (DF) to scheme only encourages speculation and not genuine home ownership. Besides that, the DF adds additional systematic risk to the banking sector as such house buyers as it is additional financing does not appear in the Central Credit Reference Information System (CCRIS) maintained by BNM. really just “A wolf in Comparatively, the RTO if correctly implemented with sufficient units being offered at the right place and at the right price; and with the right selection process sheep’s clothing”. can there be a viable solution to the current lack of affordable homes plaguing the property market. RTO is definitely the more suitable financing option as it both protects homebuyer’s interest and mitigates speculation.

56 57 How can we make it work? Admittedly, the RTO model will require a few supporting policies to facilitate A special committee must be its effectiveness and sustainability. quickly formed to spearhead the “Housing is a basic RTO can only be undertaken as a form best mechanism for a nationwide of government initiative as it will be implementation of RTO. Make no need and if it goes too big a burden to shoulder even by mistake, Malaysia is facing a Homeless big developers. There is the high cost Generation where a substantial unfulfilled, there will involved and lower returns presented percentage of the Rakyat cannot as RTO must offer both lower entry afford to buy their own home. be numerous domino cost and monthly ownership cost This is not merely to solve the issue compared to non-RTO units. of putting a roof over citizens’ heads. effects, the biggest one The government could partner Housing is a basic need and if it goes being many unwanted with state-level economic agencies, unfulfilled, there will be numerous like PKNS and government linked domino effects, the biggest one being social issues.” companies such as MRCB, Sime Darby many unwanted social issues. It is a - CHANG KIM LOONG and Glomac. Private developers will Pandora’s Box that once open, will be require some sort of partnership too very difficult to solve. The Government or tax incentives to enable them to must do all it can to prevent this box accommodate the RTO scheme into from being opened in the first place. their purchase offering. Moreover, the RTO must have the right selection criteria to ensure that such units will not be abused by recalcitrant owners who will rent them out for profits instead. Already, there has been reports of wide scale abuse of PPR units which are being rented out to foreign workers. Alternatively, the government could just build RTO units on their own without having to partner with private developers. In fact, PR1MA is already embarking on the RTO to a certain extent. A single umbrella under the Ministry of Urban Wellbeing, Housing & Local Government should be initiated to keep tabs on RTO initiatives and to establish an official framework to protect the interests of all parties. In the interim, HBA recommends the establishment of a task force comprising representatives from the following Government bodies namely: • Bank Negara Malaysia • Employees Provident Fund’ Board • Ministry of Urban Wellbeing, Housing and Local Government • Ministry of Finance • Ministry of Works • State Gov Representatives

58 59 POINTS OF INTEREST

Walking the RTO talk

iProperty.com spoke to Eugene Khoo, What prompted TAHPS to offer the Did TAHPS implement any risk CEO of TAHPS Group Berhad. TAHPS RTO scheme? management exercise to mitigate the Group Berhad recently announced the In view of the current tightening of cons of RTO? Stay & Own Scheme for the purchasers bank loan approvals margin and Yes, we did. We screen the buyers prior of their Foreston project. softening of the property market, we to accepting them into the scheme to decided to make home ownership ensure that only genuine homebuyers easier via the RTO scheme whereby of good repute are accepted to purchasers who are not able to obtain participate. If the buyer did not end up their desired loan amount can rent a purchasing the home, whatever monies unit from us for a period of time. that have been paid will be considered Once the external environment as rental income to the developer and improves and income levels increase, will not be refunded. the probability of securing the desired loan amount will be higher thereby What should be done to encourage increasing affordability for homebuyers the implementation of RTO among to own their home. In addition, the RTO developers especially for properties will also allow homebuyers to convert that cater to first-time homebuyers? some of the rental paid as part down Banks should be encouraged to payment. participate in RTO. We would like to work closely with banks to promote What are the pros and cons in RTO to its customers as the banks implementing RTO? would be familiar with their customer’s We are assisting home buyers to ability to borrow and repay loans. move into a home of their choice This will be a win-win situation where immediately with a view to ownership. the customer will have the assurance The homebuyer can also enjoy living in of securing a loan in the future and the house and the option of purchasing the developer will have comfort that it in future at a pre-determined price financing can be obtained. today. Developers should assess their The disadvantage is that the development objectives as not every developer will only be able to recognize project may be suitable for RTO. For a sale once the SPA is signed. However, TAHPS, we decided to offer our gated the developer will be able to collect and guarded residence Foreston as rent from the homebuyer. we felt that this project was suitable to meet the objectives of the RTO scheme. RTO should be market driven taking into account the requirements of developers, house buyers and bank financing.

“We would like to work closely with banks to promote RTO to its customers as the banks would be familiar with their customer’s ability to borrow and repay loans.” 58 59 Tools of the trade Knight Frank Malaysia walks through its commercial property management processes, utilizing Integra Tower as a working example.

in 2012, it currently boasts 80% occupancy. Integra Tower was one of the first pre-certified Platinum LEED office towers in Malaysia and is located within The Intermark MSC Corridor. Some of Integra Tower’s features include NATALLIE LEONG 27-high speed lifts which are fully automated destination specific. Tools of the trade “Property Management is not just To achieve the above-mentioned about property maintenance but also The Knight Frank methodology objectives, Leong states that people management and effective Underpinning Knight Frank’s approach Knight Frank utilizes the following communications,” stressed Natallie is the understanding that clients’ needs management tools: Leong, Executive Director, Property go beyond basic professional services. 1) Property Management system Management Commercial at Knight Its philosophy stresses the maximizing 2) In-house audits Frank Malaysia Sdn Bhd. Knight of the property’s performance through 3) 5S processes Frank is among the established constant and disciplined review in 4) SOPs and KPIs property management providers with order tomaintain and add value for its a comprehensive portfolio, covering owners and tenants and the client at For the ‘Property Management various property types and Leong minimum cost. System’, Leong says it is basically outlined the meticulous processes According to Leong, the key the Internet of Things, which is the involved in commercial property objectives is to relieve clients of the deployment of a computerized system management, utilizing Integra Tower, daily rigmarole of managing the to manage helpdesk management, Jalan Tun Razak as an actual working property whilst providing prompt tenancy management, and accounting example. services to owners and tenants. This functions among many others. call for constant attention to detail, Leong was keen to stress the State-of-the-art structure the exercise of a variety of specialist importance of ‘in-house audits’ as this Leong explained that Integra Tower skills, sound judgment resulting from will: was picked as an example because she experience and an awareness of the a) Ensure conformance to client’s and felt that Knight Frank was privileged factors influencing rentals and values. organization requirements to be managing such a state-of-the- Adhering to a strict methodology b) Ensure compliance to local art office tower. Developed by The will increase values and yields of authorities’ requirements and rules Intermark Sdn Bhd, Integra Tower the buildings through effective cost c) Check and balance on operations, is a freehold, 40-level building with management and efficient deployment management and financial 776,715sq ft of space. Completed of property management strategies procedure

60 61 POINTS OF INTEREST

Leong also points to these key areas where having strict SOPs as vital – operations and maintenance, finance and credit control, tenants and visitor co-ordination, housekeeping, security and safety, and administrative and compliance. She states that having clear SOPs covering the smallest details will avoid the chaos that can arise whenever the processes are out-of-alignment. There will be clear indications as to the next or corrective step to be implemented.

The key While Knight Frank already adopts the Kaizen approach, Leong was also proud to share Knight Frank’s unique approach to the inevitable issue of KPIs. This entails the 6As: 1) Aligned: Make sure the KPIs are aligned with the goals and objectives for the relevant departments d) Ensure implementation of best Power of proper procedure 2) Attainable: Ensure that practices Leong was also quick to stress the measurement tools/methodologies e) Platform to identify gaps and to importance of SOPs, even for the most are available review future improvement plans mind-numbingly obvious details. She 3) Acute: A set of developed KPIs cites a simple yet effective example would keep everyone on the same Striving to improve of getting the janitor to clean the page and moving in the same Knight Frank has also adopted the washrooms a specified number of direction Nipponese ‘Kaizen’ approach of times per day. But there should be 4) Accurate: KPI benchmarking should continuous improvement. This process greater follow through in ensuring, for be reliable and accurate involves the 5S: instance, that the facilities are kept dry 5) Actionable: Each KPI should be 1) Sort: Separate what is needed for and that safety standards are strictly developed into an action plan for the operations and remove the adhered to. implementation unneeded components. This, she believes, is what constitutes 6) Alive: KPIs should not be rigid. 2) Straighten: Organize the work area. effective SOPs which will bring about Needs to be dynamic and relevant to 3) Shine: Clean the work area. Make it effective and efficient commercial operational needs. shine. property management, resulting in: 4) Standardize: Establish schedules 1) saved time and mitigated errors In conclusion, Leong reiterated the and methods of performing routine 2) consistent results importance of having effective lines operational tasks. 3) empower the workforce of communications to ensure all the 5) Sustain: Implement programs 4) supported quality goals above processes are clearly transmitted to sustain achievements by 5) preventive measures and reduce to all relevant stakeholders. She also encouraging close collaboration reactive reactions highlighted that it was imperative that between team members. 6) effective cost management the right people are on board to ensure the processes are efficiently executed.

DISCLAIMER: The opinion stated in the article is solely of Natallie Leong and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

60 61 The Green incentive In an effort to encourage businesses and developers to embrace sustainability and going green, the government has introduced new incentives to provide a conducive building environment for a sustainable economy.

LEED Gold Certification, Green population lives in the urban areas. Star, NatHERS, NABERS, BREEM and Von Kok Leong, Immediate Past Chair CASBEE— these are some of the most of the Green Building Index (GBI) trusted sustainable rating systems Accreditation Panel explains that this used by countries around the world. becomes a problem when the 2% of With the continuous growth and the land isn’t ready to receive a huge development of urban communities, influx of population and as a result the practice of increasing the efficiency contributes to the increased amount of with which buildings use energy, water, greenhouse gas emission per capita. VON KOK LEONG materials, and of reducing its impacts Which is why it is important to Immediate Past Chair of the on human health and the environment develop a sustainable rating system Green Building Index (GBI) has become increasingly important. to better regulate the design and Accreditation Panel Since the 90s, our urban population construction of new buildings by has exceeded the rural population. ensuring that they meet all the criteria And even though urban centres of green, sustainable buildings. and cities occupy only 2% of the Modelled after other successful world’s land area, 50% of the world’s green rating tools around the world,

the Green Building Index (GBI) Existing buildings - Malaysia is developed for the purpose of promoting sustainability in the built OFFICE BUILDINGS IN KUALA LUMPUR environment and to raise awareness about our responsibility to the NEW CONSTRUCTION environment. = 1.6m sq m “We wanted something that is 15% unique to our construction industry so we studied the strengths and weaknesses, our loss and opportunities before coming up with this tool,” shares Exisitng stock EXISTING STOCK 85% = 9.3m sq m Leong.

Source : KL Draft Structure Plan, 2000

62 63 INDUSTRY UPDATE

However, it has been estimated that awareness and demand increases, over 70% of the average city’s GHG coupled with several initiatives taken emissions come from existing and by the government, prices of these old buildings. In Malaysia, more than materials have become affordable. 80% of our government buildings Developers started getting creative exhibit high carbon emission (GBI with their designs, finding new ways of 250 kWh/m2/year). This problem and alternatives that can be applied can be easily rectified by retrofitting to provide environmental and social IR CHEN THIAM LEONG the existing buildings, thus extending benefits without necessitating Member of the GBI their life spans and efficiency, “You incremental costs such as orientating Accreditation Panel don’t have to change the façade of the the building in the right direction to building, just change parts that can allow in natural light and promote help you become more energy efficient better ventilation. and increase productivity.” In a bid to encourage developers to embrace sustainability and the The economy of green buildings practice of green building, and limit In the initial years, green and the amount of human impact on the sustainable building features were environment, The Malaysian Investment viewed as mere add-ons, hence Development Authority (MIDA) and they used to cost more than the less Malaysian Green Technology Corp sustainable alternatives. But as public in a joint effort have introduced the investment tax allowance (ITA) for the purchase of green technology projects, equipment or assets, and income tax Previous incentive green building exemption (ITE) for green technology service and system providers. INCENTIVES INCOME TAX/STAMP DUTY INCENTIVES According to Ir Chen Thiam Leong, Building expenditure • 100% tax exemption on additional capital expenditure to obtain incured by a person GBI certificate. Member of the GBI Accreditation or company Income • Set o against 100% statutory income Panel, the new incentives will catalyse tax (Exemption No. • Once in a lifetime claim on GBI buildings. and strengthen the development 8) Order 2009 • Incentive claimed once certified issued for new buildings and upgrade of existing buildings. of green technology as they cover • Eective date: Buildings awarded GBI certificates from 24 a broader scope. Through the new October 2009 to 31 December 2014. tax allowances and exemptions, Property buyers • Stamp duty exemption based on additional cost to obtain GBI developers will be encouraged to (Stamp duty certificate. (Exemption) • Buildings & residential properties with GBI certificate. purchase certified green technology Order 2009) • Applies only to purchase from developers. products which in turn can result • First property owner only. • Eective date: Sales and purchase agreements executed from in significant cost savings for the 24 October 2009 until 31 December 2014 developer. “With ITA, if you spent RM 4.6 million making the building green and made New incentive, Income Tax Act. 1967 say, RM 10 million (after your income PROJECT SERVICES ASSET has been derived). Out of that profit Definition Investment in assets/equipment Provision of services Purchase of green technology amount you are left with 7 million after /system to undertaken a Green to Green Technology equipment which has been certified Technology project user/project. by recognised verification bodies the adjustments, you can write off the and listed in MyHijau Directory. RM4.6 million at one go. But if you Incentive Investment Tax Allowance (ITA) of Income Tax Exemption Investment Tax Allowance (ITA) of 100% of qualifying capital (ITE) of 100% of 100% of qualifying capital have RM 10 million and RM 4.9 million expenditure incurred from the YA statutory income from expenditure incurred from the YA 2013 until the YA 2020. (o set the YA 2013 until the 2013 until the YA 2020. (o set is written off as tax exemption, you still against 70% of statutory income) YA 2020. against 70% of statutory income) have a surplus of RM 5.1 million which Evaluating MGTC MIDA MIDA can be carried on to the next year until Agency (GreenTech Malaysia) you finish it,” explains Leong.

62 63 INDUSTRY UPDATE

Example 1: Assumption: ITA RM4.6 million

WITHOUT TAX INCENTIVE WITH TAX INCENTIVE (RM MILLION) (RM MILLION)

Profits before tax add/less 10,000,000 10,000,000 tax adjustments 2,000,000 2,000,000

Adjusted income 12,000,000 12,000,000 Less: Capital allowances 5,000,000 (5,000,000)

Statutory income 7,000,000 7,000,000

Percentage (%) 70% 30%

4,900,000 2,100,000

(-) ITA Nil 4,600,000 -

300,000 2,100,000

Chargeable income 7,000,000 2,400,000

Tax liability @ 24% 1,680,000 576,000

Example 2: Assumption: ITA RM10 million

WITHOUT TAX INCENTIVE WITH TAX INCENTIVE (RM MILLION) (RM MILLION)

Profits before tax add/less 10,000,000 10,000,000 tax adjustments 2,000,000 2,000,000

Adjusted income 12,000,000 12,000,000 Less: Capital allowances (5,000,000) (5,000,000)

Statutory income 7,000,000 7,000,000

Percentage (%) 70% 30%

4,900,000 2,100,000

(-) ITA Nil 10,00,000 -

0 2,100,000

Chargeable income 7,000,000 2,100,000

Tax liability @ 24% 1,680,000 504,000

Balance to be carried forwards to next year of assessment 5,100,000

To enjoy these tax incentives, all you have to do is register your project with GBI and submit your GBI DA (Design Assessment) or CVA (Completion & Verification Assessment) to MIDA for project approval. Once the conditional approval for ITA has been granted your project will obtain CVA or Green Cost Certificate from GBI. Submit your project along with the Green Cost Cert to MGTC for QE (Qualifying Capex) approval followed by LHDN (enclosing all three approvals) to make your claim. “Green Cost submission can only be done after the GBI CVA certificate has been obtained and you have complied with 50% of the criteria. Make sure that you get it right and meet the requirement properly otherwise your claim will be rejected,” shares Leong.

64 PB INTERNATIONAL NEWS & FEATURES Beijing and Australian governments struggling to rein in runaway home prices

2017 continues to be a good year for semi-detached residential use within the collective sales market with Shunfu a 39,063 sq ft land area. What it could Ville given the go-ahead from the potentially yield are 8 semi-detached Court of Appeal last week and the sale houses, 5 bungalows or 10 semi- of One Tree Hill Gardens site for $65 detached homes and 3 bungalows. million this year. With such landed properties near The Lum Chang Group has Orchard Road a scarcity, the freehold purchased the latter freehold landed homes will no doubt receive much residential development site near interest from investors and high net- Orchard Road at $1,644 PSF. Its worth buyers. proximity to Orchard Road makes it a While the market is still tender from prime site that is rare also because of the previous years of slow growth, its freehold status. It is of sizeable land developers are beginning to replenish ratio and developers have expressed land stock and collective sales may considerable interest. The site was be their means to the ends as the initially put up for sale at $72.8 million. government has recently cut back on Despite the $7.2 million shortfall, the release of land plots. Though price- individual owners of the 6 maisonettes sensitivity continues to rule developers’ and 7 apartments will still receive $4.3 bids, the collective sale market will be to $9.1 million depending on the size of active this year especially with more their units. homeowners enquiring about en bloc Under a 2014 masterplan, the sales and the sale of Eunosville and Rio freehold site is zoned for 2-storey Casa last month.

66 67 INTERNATIONAL PROPERTY NEWS

London home prices fall for the first time in 8 years

Home prices in London have been rising continually despite its high levels. Brexit has slowed the rate of increase slightly, but for the first time in 8 years, prices have fallen 1.8% in April to S$1.4 million. The last decline of 2% was in 2009. Central London properties experienced the biggest change as the sector underperformed on a whole. Brexit aside, tax increases and unaffordable valuations have also had a part to play in the decline. Consumer confidence suffered a blow in the first quarter and though foreigners are still closing some property transactions in the city, the change is the first indication of the Brexit- effect.

66 67 5 Common mistakes you should avoid when buying your home

Buying a dream place to call our own can be a daunting task, especially if it’s our first home. We find ourselves on an emotional rollercoaster; emotions are raged with excitement but also full of complexities. If we are not cautious, buying a new home can become profoundly exhausting and scary.

- Melissa Lim, Associate Director, RedbrickMortgage Advisory

Here are some errors that can be monthly maintenance fees if they are very costly to make and may put your intending to purchase and reside in a aspiration of owning that dream home condominium. at stake. 2. Not getting your loan pre-approved 1. Underestimate the full costs of Another common mistake to buying a home avoid when buying a property is Most first-time buyers often tend understanding what an In-principle to focus on the down payment and Approval (or Approval in Principle) is monthly loan servicing amount when but not obtaining one. calculating how much they can afford This is such a great avenue but often but many a time, they forget to factor overlooked by homeowners. Being in additional costs such as the stamp a new homeowner back then, I was duty fee (additional buyer stamp advised to put up an AIP application duty fee for buyers with one or more and that really helped me to plan my properties), legal fees and valuation finances. report costs. Now, I’m a strong believer in Also, homeowners do not realise obtaining an AIP and highly encourage that they will have additional expenses prospective buyers to put up the on top of their monthly repayment application before shopping for a as they’ll be responsible for paying property because the approved property taxes or purchasing a amount allows us to plan wisely and mortgage protection plan to insure shop for a property within our budget. their home against disasters. Finally, So what actually is an IPA? In short, there’s also the idea of home it is an agreement with the bank but maintenance so there’s a need to there is no actual loan issued when the set aside some cash for repair when application is submitted. Rather, it is a things start to wear and tear. I suggest “promise” that the bank will grant the homeowners to also factor in the borrower(s) a mortgage loan when

68 69 INTERNATIONAL BRIEFS

they require it (usually when the buyer Keep a good track record by making has secured a unit by placing the sure that your credit facilities payments option fee). are made promptly on time, this is one In our local market, the validity of of the methods to help improve your an IPA lasts between 14 – 30 days, credit scoring when applying for any depending on the credit guidelines of facility with a bank. each bank. Having said that, getting your IPA 3. Being emotional application approved does not equate Don’t be influenced by “the market” or to 100% obtaining the loan from a bank peers more than by your own needs. if your financial health or credit bureau “But my mom says…”, “My friends scores indicate negative results when told me….”. you re-submit your application for an No, you are the one who is going to actual loan. The bank reserves the right move in and live in the property, so you to reject the application. should be the one making the call and never let anyone tells you otherwise. For instance, do not buy a smaller unit (think: shoe-box apartment) if you are planning to settle down and have kids and will need a bigger house. On the same note, do not buy a condominium just because of lifestyle influence by peers or you dislike the lack of personal space living in a HDB flat. I have also noticed that there are times when the market favours buyers. Conversely, there is what we call the “sellers’ markets”, and that is when prices are booming. This is the cycle of the property market as we know it. However, waiting for the “right time” or prices to go down is gambling with your family’s future. What’s your definition of the “right time”? I personally think that there is never the “right time”. Same goes to finding your “Mr or Miss Right” – to settle down at the “right time”, all it takes is to plan and consistently manage your expectations along the way. The right approach should be to set the budget, have your finances organised and think about your current and future needs.

68 69 You should not let the short-term In addition to helping you find the market conditions influence what will best deal, a mortgage broker is also an be your long-term lifestyle decision. invaluable resource for newbie buyers Bear in mind that the concept of trying to understand how this complex your “dream home” changes from time and often tortuous, undertaking works. to time. You will probably have to make some compromises to be able to afford 5. It’s not all about the price your first home. Price is what you pay, value is what you Without a doubt, buying a home is get. This means you do not make your an emotional process. Be rational, do buying decision based purely based on proper research and empower yourself price alone. Get a comparative market with the minimum knowledge (at least), analysis or an indicative valuation to you will brace yourself through the check against the most recent asking process. Ta-dah! and selling price of similar properties in the same neighbourhood to propose 4. Seeking mortgage advice from the an offer (to seller) that is deemed real estate agent appropriate. Real estate agents are like our best You need not base your offer on friends, holding on tight to our hands the seller’s asking price. You would throughout the buying process but not want to be paying a higher price they might not be the best person to for a unit, nor would you want to buy offer appropriate mortgage advisory a cheap property in an undesirable to us since they are unlikely to compare location, as you may face difficulty every mortgage package in the market. trying to sell it off at a later stage. No doubt they have the expertise There are many other issues to and knowledge in selling properties consider when it comes to buying like hotcakes, but if you have an your home. Whilst it is exciting to buy independent mortgage broker to help your first property, it can at the same guide you through the process, you’re time seem stressful and overwhelming in good hands. and the experience comes with its fair An independent mortgage broker share of potential pitfalls. But if you are ensures a seamless customer journey aware of the potential issues ahead of experience by providing buyers with time, you can shop with confidence unbiased home loan opinions from and protect yourself from making your loan selection. costly mistakes. Happy shopping!

70 71 INTERNATIONAL BRIEFS

MELISSA LIM

After graduating from University of Bradford in 2009, Melissa entered the finance industry and spent the last 9 years in the banking sector. She gained experience working in both local and foreign financial institutions, majority of which as a mortgage specialist. In her career progression, she has taken up other roles such as Account Manager to manage and oversee the bank’s corporate clients on their employee benefits and workplace banking, as well as an Assistant Branch Service Manager with a local bank.

70 71 The would-be Woodlands Office rents in Central Business District expected

The Woodlands of the future could to rise in 2018 very well be the “Star Destination of the North” and home to 10,000 more new units as part of the Housing Rental rates for Central Business District (CBD) offices are expected to rise board’s (HDB) Remaking the Heartland next year, which may push companies to reconsider relocating to regional (ROH) programme. commercial hubs. There are two components to While office rents are expected to ride a growth curve towards the end of building the new Woodlands and the 2017, a sustained recovery is expected to occur only in 2018. That, however, entire redevelopment is scheduled gives companies the value of time to weigh in on the possibility of moving to take between 5 to 10 years. The outside of the CBD and into growing regional hubs where they could save on remake will include Woodlands Central housing and commercial space rental. which will integrate commercial Take the upcoming Paya Lebar Quarter for example. Its 840,000 sq ft of and community units at Woodlands office space across 3 towers will be ready for occupation next year and on the Central and Woodlands North Coast other side of the island, Woods Square in Woodlands will offer up 534,000 sq ft public housing development. It is yet of office space by 2019. While this means the companies will have to be situated undecided if the residential units at away from the buzz of the CBD, the decentralisation of office spaces is timely as Woodlands Central will be public or the government moves towards a new era of self-sustaining regional townships. private ones though they are likely to The limited supply, of less than 1 million sq ft, of additional office space in be popular as the site is situated near the prime Central Business District from now to 2020 could mean a projected Woodlands MRT station. rental growth. Though Frasers Tower and Robinson Tower will add a combined The Woodlands North Coast Land 823,000 sq ft of new office space to the CBD next year, it is still a long way parcel will also house a business park, below the 2.15 million sq ft injected by the Marina One and 5 Shenton Way the first cluster in the North. The new developments this year. commercial cluster will also provide ample spaces for small and medium- sized businesses. The Woodlands Regional Centre will also be revamped and expanded upon, structuring it to become a new hub for Malaysian and Asean-linked businesses. Woodlands is in the third batch under the ROH scheme to undergo redevelopment, after Toa Payoh and Pasir Ris. It is set to change the landscape in the Northern region quite extensively with 3 new MRT stations coming up under the Thomson East Coast Line, a new Healthcare complex which includes a new acute care hospital, community hospital and nursing home, and the North South Expressway scheduled for completion by 2026.

72 73 SINGAPORE PROPERTY NEWS

One in five first-time HDB flat buyers opt for resale

It has become easier for first-time HDB flat buyers to secure a new flat directly Prime sites may yield from the Housing Board (HDB) but some are still opting for one in the resale high-demand homes market. 95 per cent of new Build-to-order (BTO) units are now reserved for first- time buyers. But yet figures have shown that 1 in 5 first-time HDB flat buyers are Should the sites currently earmarked still choosing to buy a unit from the resale flat market instead of applying for a for future residential use be put up for new one. sale, the public can expect some juicy The decline in resale flat prices, the growing pool of available resale flats bits from developers as these sites are on sale in mature estates and the fact that more young buyers are willing to in prime locations near the city centre. pay dearly for older flats to get the space and location they desire could all The 2 sites which are particularly be reasons for the high numbers of first-time buyers choosing to buy resale. beguiling are the former Ministry of Younger families prefer homes in better locations, perhaps also to be closer to Home Affairs Phoenix Park site in their extended families, and they now have more available stock to choose from. Tanglin Road and the former Overseas For buyers buying a flat near their parents, they can also receive a $20,000 Family School plot in Paterson road. housing grant. Both sites are under governmental 3,441 Singaporean families purchased a resale flat with the aid of housing ownership and while the location of grants last year – that is almost 20% of the flat purchases made by first-time these sites will excite developers and buyers. The remaining 80% applied for 14,273 subsidised units directly from buyers alike, the government is unlikely HDB. Young couples who are eager to start a family may also choose to to put them up for sale anytime soon. purchase from the resale market in order to skip the waiting period of 3 to 4 They have in fact been holding back years which comes with the acquisition of a new BTO flat. The now-enhanced on the release of land sites possibly CPF Housing Grants also mean first-time buyers can get up to $50,000 in contributing to the increased number subsidies. of successful en bloc sales in recent Will this then mean that resale flat sellers can price up as demand does not months. seem to have waned? Not necessarily so, as the option of new flats is very much These sites with their exclusive available to first-time buyers. There have however been recent transactions in addresses are currently put up for popular areas where records were set for resale units – such as $1.04 million for interim use though should they a 118 sq m resale flat on the 39th floor of Clementi Towers. eventually be placed for sale, they are likely to yield 450 to 700 homes in the Paterson Road site and 850 to 1000 units averaging 800 to 1,000 sq ft on the Phoenix Park site. The latter is currently tenanted by LHN Facilities Management who will have the option of renewing till the end of 2020. The proximity of this site to various embassies in the Tanglin area will, however, mean restrictions may be placed on the height not to mention possible heritage conservation regulations.

72 73 Success of collective sales continues

2017 continues to be a good year for the collective sales market with Shunfu Ville given the go-ahead from the Court of Appeal last week and the sale of One Tree Hill Gardens site for $65 million this year. The Lum Chang Group has purchased the latter freehold landed residential development site near Orchard Road at $1,644 PSF. Its proximity to Orchard Road makes it a prime site that is rare also because of its freehold status. It is of sizeable land ratio and developers have expressed considerable interest. The site was initially put up for sale at $72.8 million. Despite the $7.2 million shortfall, individual owners of the 6 maisonettes and 7 apartments will still receive $4.3 to $9.1 million depending on the size of their units. Under a 2014 masterplan, the freehold site is zoned for 2-storey semi- detached residential use within a 39,063 sq ft land area. What it could potentially yield are 8 semi-detached houses, 5 bungalows or 10 semi-detached homes and 3 bungalows. With such landed properties near Orchard Road a scarcity, the freehold homes will no doubt receive much interest from investors and high net-worth buyers. While the market is still tender from the previous years of slow growth, developers are beginning to replenish land stock and collective sales may be their means to the ends as the government has recently cut back on the release of land plots. Though price-sensitivity continues to rule developers’ bids, the collective sale market will be active this year especially with more homeowners enquiring about en bloc sales and the sale of Eunosville and Rio Casa last month.

74 75 SINGAPORE PROPERTY NEWS

More sale-of-balance flats units in mature estates

Aside from a large number of new BTO flats in HDB’s latest launch, many units under the Sale of Balance Flats scheme will also be made available, including units in mature HDB estates such as Kallang/Whampoa and Queenstown. 3,946 flats which remained unsold from previous launches, spread over the number of balance flats available Redevelopment Scheme (SERS). Most 14 mature estates and 11 non-mature were factors making this one of the of these units are in the SkyParc @ estates, were rolled out in last week’s highlights of this current launch. Dawson development which will be Sale of Balance Flats launch. From the Most mature estates will only see ready by end of 2020. These new flats 14 mature estates which also included single- or at most double-digit number and their modern designs will no doubt Pasir Ris, Tampines, Serangoon and of units available for the sale of balance make them the hottest units in this Ang Mo Kio, the 523 and 263 units in flat scheme. The high volume of launch. Priced between $454,600 and Queenstown and Kallang/Whampoa leftover units from previous launches $527,200, they are more affordable were the most eye-catching. The in Queenstown could be due to than some of the newer BTO units in proximity of these 2 HDB estates to leftover replacement units previously estates such as Geylang and Bidadari. the Central Business District (CBD) and put aside for the Selective En bloc

Flats in Geylang and Bidadari available in HDB’s latest BTO Launch

HDB’s latest sales launch of Build-to- in Woodlands and Yishun. Up to 2,000 Yishun will set you back only $331,000. order (BTO) and Sale of Balance (SBF) new BTO flats will be launched in these Plans to establish Woodlands as an flats will include 1,273 units in Geylang 2 HDB towns with prices considerably area for regional businesses is on the and 1,355 Bidadari (Toa Payoh HDB lower than those in mature estates. way, though it will take some time estate). For example, a 2-room flexi HDB flat before it becomes a full-fledged hub. May’s launch may not be huge in Geylang will cost $179,000 while Infrastructure that is being developed considering it will span 14 mature the same in Woodlands will cost more includes new MRT stations, a terminus estates and 11 non-mature estates, but than $100,000 lesser at $73,000. In connecting Woodlands to Johor Bahru the inclusion of many flats in popular Bidadari, a 2-room flexi unit will cost and the North-South corridor. More estates such as Ang Mo Kio, Bedok, $169,000. A 3-Gen flat in Bidadari will HDB launches can be expected in the Clementi and Kallang/Whampoa will be priced at $622,000 while the same Woodlands estate in future. draw the crowds for sure. 5 applicants in Woodlands costs slightly over half of In the meantime, the mature per unit is expected for Geylang as the that at $320,000. estates are expected to dominate the area has not had a launch for the past Bigger 4- and 5-room flats will latest launch. Applications closed on 3 years. also be made available in the current Wednesday, May 24. HDB’s next launch The government is, however, launch. But be prepared to pay will be in August and it will include attempting to shift applicants’ focus to $489,000 for a 4-bedroom unit in 3,850 new BTO flats in Bukit Batok and non-mature estates up North, namely Geylang while a 5-bedroom flat in Sengkang.

74 75 ASIA-PACIFIC RESIDENTIAL REVIEW Knight Frank Research provides a special analysis of Asia Pacific’s cross-border residential land activity in May 2017.

Brand building, diversification and been one of the most striking trends of cooling measures have all helped drive the last few years. a significant increase in cross-border As many residential markets mature residential development acquisitions over time, the hunt for the next over the last ten years. Despite a high-yielding property development slowdown during the Global Financial opportunities may happen in Crisis and its aftermath, crossborder selected developing countries such residential land buying activity in as Cambodia, the Philippines and NICHOLAS HOLT Asia Pacific has been on an upward Indonesia. Investors and developers Asia Pacific Head of Research trajectory over the past decade. will find these locations attractive When comparing 2016 to 2007, the given the consistently high economic number of acquisition of residential growth, huge young population, rapid development sites from overseas urbanisation rate combined with the investors more than doubled, with rising need for different housing types. volumes hitting more than US$42 Similarly, developers may also billion last year. choose to invest in selected hot spots Although domestic buyers remain in mature economies such as Kyoto the majority group in all Asia Pacific in Japan, suburbs near major cities countries, the increasingly cross-border in Australia and the city fringe in nature of development activity has Singapore.

“The buyer’s profile is an interesting mix – from institutional investors to private developers – and they venture into foreign markets with sometimes differing motivations.”

76 77 RESEARCH DATA

Regional Snapshot history, regardless of where or whether the Indonesian property market has In Australia, the market saw 1.5% they currently own a flat. entered a mature or consolidation price growth in Q4 2016 and 3.5% Hong Kong house prices continue phase. Quarter-on-quarter, house price growth across 2016. Meantime, policy to increase, with the upward trend in Indonesia slowed to a growth of makers have encouraged tighter expected to persist throughout 0.4% compared to the 2.4% increase lending restrictions of the major banks 2017. From Q2 2016 to Q4 2016, year-onyear. The outlook for 2017 across the board, including limiting house prices increased by 11.2% – remains cautiously optimistic with interest-only loans to 30% of total new the strongest growth of markets opportunities and challenges. Despite mortgage lending, down from 40% tracked. Rebalancing the dynamics the successful local election and previously. This closer scrutiny has in the property market and providing tax amnesty program in early 2017, extended to include low-doc loans affordable housing for the low buyers are still adopting a wait-and- pushing beyond the 90% loan-to-value and middle classes will be vital for see approach. However, the new ratio (LVR), to include those also at Hong Kong’s newly-elected Chief infrastructure under way and plans 80% LVR. In China, national house Executive. The highly controversial for its acceleration are expected to price growth is slowing gradually – demonetisation initiative in India is see increased consumer confidence from 10.8% year-on-year to just 1.9% believed to be softening price growth and optimism in a few years to come. in Q4 2016. Strong interventions in the short term, as it poses an House prices in Japan stayed flat in from the authorities to cool down unpredictable disruption. In recent the second half of 2016, recording a the red-hot property markets in months, developers refrained from marginal drop of 0.2% for the whole Tier-1 and Tier-2 cities are showing announcing any new launches and of 2016. The government relaxed its early results. In Beijing, some of the buyers turned extremely cautious immigration policy and now allows strictest restrictions were introduced, before committing to purchases. In highly-skilled foreigners to apply for for example, down payments for the long run, however, the reduction in permanent residency after as little second-time buyers of private sector- the black money economy is projected as a year. As an attempt to boost its developed homes were raised to to augur well for the industry, with declining young working population, at least 80% of the purchase price, positive impacts expected to start to this new point system may potentially up from 70%, and the definition of be felt by the end of 2017. propel more demand in housing, “second-time buyer” was broadened to Considering all factors such as global further strengthening the appeal of include those who have any mortgage and domestic economic conditions, Japanese residential properties.

FIGURE 2 10-Year Country-Level House Price Performance

300

250

200

150

100

50 JUL-11 JAN-11 JUL-12 JUL-13 JUL-15 APR-11 JUL-16 JUL-14 OCT-11 JUL-10 JAN-12 JAN-13 JAN-15 APR-12 JAN-16 APR-13 APR-15 JAN-14 APR-16 OCT-12 OCT-13 OCT-15 APR-14 JAN-10 OCT-16 JUL-08 APR-10 OCT-14 JUL-09 OCT-10 JAN-08 JAN-09 APR-08 APR-09 OCT-07 OCT-08 OCT-09

AUSTRALIA CHINA HONG KONG* INDIA INDONESIA JAPAN MALAYSIA NEW ZEALAND SINGAPORE*** SOUTH KOREA

Source : Knight Frank Research Note: *Provisional ***Island-wide price index for non-landed private properties Indexed (Q4 2007 = 100) Data for Australia, India, Malaysia, New Zealand is to Q3 2016

76 77 The general performance and to 245,000 last year. outlook for Malaysia property market The slight tweaking of cooling is still lacklustre as both economic measures in Singapore was a surprise conditions and public sentiments move in March. The government are down. Given the relatively solid reduced the holding periods for economic fundamentals, and a weak residential property purchase down Ringgit (it slid close to 4.5% against to three years from four years while the US dollars in 2016) some investors, also lowering the Seller’s Stamp including overseas buyers, may opt Duty by four percentage points. to capitalize on this opportunity to Additionally, the total-debt-servicing purchase discounted properties that ratio framework for mortgage equity offers stability and long-term potential. withdrawal loans with loan-to- A lack of supply, rising demand and value ratios of 50% and below has record low interest rates fuelled a 12.7% been removed. On the other hand, price growth in New Zealand, making regulators also imposed the Additional it the second strongestperforming Conveyance Duties on residential market worldwide last year. In recent property holding entities, which closed months, however, market activity has a tax loophole that allowed developers seen some slowdown as the Reserve to offload apartments in bulk to Bank of New Zealand continues to institutional investors and wealthy lobby the government to add debtto- Singaporeans. income limits to its macroprudential 2016 was another strong year for cooling measures. Thailand’s prime and super prime Taiwan’s housing market was the condominium market, particularly in second weakestperforming globally in Bangkok. Despite a slowing economy, 2016, with a 6.5% year-onyear decline. demand stayed high, supporting price The local property market has been growth. With limited land and growing affected by the integrated Housing competition for capital from other real and Land Tax and high holding tax at estate classes, the prime residential the beginning of 2016. As a result of sector is expected to witness moderate the Government’s cooling measures, price growth amidst potentially slower transaction volumes declined by 35% sales activities in 2017.

78 79 RESEARCH DATA

SPECIAL ANALYSIS Asia-Pacific cross-border residential land acquisition activity.

KEY POINTS FIGURE 3 Cross-border Buyer Nationality as % of Total Volumes 2007 - 2016 Over the last ten years, close to a total of US$2.1 trillion was invested SINGAPORE 7.3% in Asia-Pacific residential land sites, with approximately 11% (amounting MAINLAND 5.7% to US$230 billion) originated from CHINA crossborder deals

HONG KONG 74.5% OTHERS 5.1%

Over 94% of this cross-border UNITED 3.2% buyer activity came from Asia- STATES Pacific developers, with merely JAPAN 2.4% around 6% of buyers originating from outside the region

MALAYSIA 1.7%

Source: Real Capital Analytics, Knight Frank Research Contrastingly, over the same period, Asia-Pacific developers invested a total of only US$6 billion include United States (3.2%), Japan in residential land sites in Europe, The Growing Wave of Chinese Capital (2.4%), Malaysia (1.7%) and United Arab the Americas and Africa, therefore Emirates (1.1%). 2007 demonstrating a strong preference The growth in outbound activity 2008 for opportunities within their home by mainland Chinese developers has 2009 region been one of the key trends over the 2010 past decade, with volumes going from 2011 practically zero in 2009 to more than 2012 US$2.5 billion in 2016. From 2012 to 2013 2016, their favourite destination was

The main bulk of this cross-border 2014 Australia (36.5%) along with other key

capital originated from Hong Kong and 2015 markets include Hong Kong (23.7%),

mainland China, constituting 80.2% 2016 Malaysia (19.7%) and Singapore

of the total money spent on acquiring 2017Q1 (15.4%). Among a flurry of cooling

overseas residential lands within Asia- 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 measures introduced in major Chinese Pacific. On the surface, Hong Kong US$ MILLIONS cities along with the capital controls alone is the front-runner with 74.5% Source: Real Capital Analytics, Knight Frank Research imposed earlier this year, we expect of the market share but in fact the Chinese developers to put more most acquisitive companies have roots been in the limelight recently. Notably, money into Hong Kong and smaller in the mainland. For instance, three as an island-state, Singapore-based Tier-3 Chinese cities this year. In the out of the top five most aggressive developers are trailing behind Hong first quarter of 2017 alone, Chinese overseas housing developers listed in Kong, snapping up 7.3% of the total developers invested over US$5.1 billion Hong Kong are subsidiaries of Chinese cross-border volume as they actively in the region, with more than US$4.9 state-owned enterprises. Thus, it is pursue more overseas development billion or 95% concentrated in Hong no surprise that Chinese money has opportunities. Other notable players Kong.

78 79 FIGURE 5 Most Popular Investment Destinations for Residential Land in Asia-Pacific 2012 - 2016

AUSTRALIA 4.9%

SINGAPORE 4.9%

MALAYSIA 2.5%

HONG KONG 2.0%

INDIA 0.5% MAINLAND CHINA 84.1%

JAPAN 0.3%

TAIWAN 0.2%

VIETNAM 0.2%

ALL OTHERS 0.5%

Source: Real Capital Analytics, Knight Frank Research

From 2012 to 2016, the top five FIGURE 6 overseas investment destinations for Top 20 Asia-Pacific Cross-Border Developers 2007 - 2016 residential land in Asia-Pacific were 35,000 250 ranked in the following order: mainland

China, Australia, Singapore, Malaysia 30,000 and Hong Kong. The biggest gainers 200 during this period include Hong 25,000 Kong, Australia and Malaysia. The first 150 two countries saw investments into 20,000 their countries increased by about nine times and 26 times respectively 15,000 100 while Malaysia grew from zero 10,000 foreign investment into residential development sites in 2012 to over 50 5,000 US$1.4 billion in 2015. Meanwhile, the average investment into Singapore’s 0 0 housing land from 2012 to 2015 was about US$1.6 billion but it declined to Wheelock (HK) CapitaLand (SG) Lend Lease (AUS) Yuexiu Group (HK) Sun Hung Kai (HK) Sekisui House (JP) Modern Land (HK) Shimao Group (HK) Mitsui Fudosan (JP) US$671 million in 2016. China Resources (HK) Hongkong Land (HK) Kerry Properties (HK) Yuzhou Properties (HK) China Overseas L&I (HK) Yanlord Land Group (SG) Hutchison Whampoa (HK)

China Merchants Group (HK) Overseas Chinese Town (HK) Road King Infrastructure (HK)

15 of the developers on the top Hopson Development Hldg (HK)

20 list of most active developers are Volume in US$ millions (LHS) Number of properties acquired (RHS) Note: The origin of developers is determined by its public listing or headquarters location based in Hong Kong. However, as aforementioned, companies like China Source: Real Capital Analytics, Knight Frank Research

80 81 RESEARCH DATA

Resources, China Overseas Land & FIGURE 7 Investment and China Merchants Average Price (per sq ft) vs. Average Land Area (acres) Group are listed in Hong Kong but have 250 origins in the mainland. As a result, 80

most of their ‘overseas’ deals are done 70 in mainland China. At the same time, 200

the average number and percentage of 60 deals done in joint venture was 13.6%, 150 as both local and foreign developers 50 recognise the importance of local 40 knowledge and foreign capital as well 100

as expertise. 30

50

20

10 0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Average land area in acres (LHS) Average land price per sq ft (RHS)

Source: Real Capital Analytics, Knight Frank Research

Analysing the deals done over the is not unusual for them to build houses FIGURE 8 last ten years, we see that developers in secondary locations. % of CBD Sites have been acquiring more expensive, In Q1 2017, we continue to see more

100% less prime and smaller sites. Both the crossborder investment activities in average quantum price and price per Asia-Pacific – with close to US$10 90% sq ft have grown gradually on a CAGR billion representing 15.2% of the total

80% basis – increasing 4.7% per year from sales volume. In addition, this is also US$154 million to US$242 million and the highest Q1 figure ever recorded 70% 15.9% per year from US$47 to US$208 since at least 2007. Three of the top

60% per sq ft. For land size, the acquired five deals transacted in Hong Kong sites now have much smaller land area and were all purchased by Chinese 50% – averaging 32 acres today compared developers; the rest of the top

40% to 65 acres 10 years ago. Likewise, the ten deals were in mainland China. percentage of acquired sites that are in In addition to increasingly tightly 30% a CBD area has dropped tremendously controlled Chinese outbound activity,

20% – from about a fifth in 2007 to just the residential development sector 6.0% in 2016. This trend can be may have to compete for funds with 10% attributed to a couple of factors: other alternative investment-grade

0% limited supply of big, prime sites and real estate classes such as logistics 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 the increasing understanding of the and hospitality. Given the growing Proportion of prime sites Proportion of non-prime sites (in CBD) (not in CBD) local residential market. Usually, first- uncertainties in the world, Asia- time entrants prefer to build a bespoke Pacific developers may also choose to Source: Real Capital Analytics, Knight Frank Research development as a statementmaking invest in selected hot spots in mature landmark in a central location. As they economies such as Kyoto in Japan, obtain deeper foothold in the market, it suburbs near major cities in Australia and city fringe in Singapore.

80 81 COUNTRY ANALYSIS Five-year breakdown of market share between domestic and foreign developers, notable deals and localised analysis over the period of 2012 to 2016.

Australia MOST ACTIVE DOMESTIC From 2012 to 2016, domestic FOREIGN BUYER developers and investors purchased 58.4% of residential development land Notable Mentions: in Australia, while the largest foreign CHINA 58.4% Singapore, Hong Kong, Japan, developer group hailed from China 23.4% Malaysia and United Kingdom (23.4%). Last year, Chinese developers and investors purchased $2.4 billion worth of residential development sites in Australia – a 9.4% increase from 2015. Boasting an economy Year Name Location Price Buyer Type (US$ millions) Origin record without recession for over 25 2016 YMCI Homebush City Garden Lidcombe, Sydney 501.8 China Apartment and Retail years, Australia has also seen a steady 2016 Hill Road Wentworth, Sydney 275.7 Japan Apartment population growth partially fulfilled by 2016 50A Hacketts Road Point Cook, Melbourne 144.4 China Houses a healthy immigration rate especially the highnet-worth individuals. Source: Real Capital Analytics, Knight Frank Research

Cambodia

Real estate developers from across Asia, particularly from China, Singapore, Taiwan and Korea have gone into Phnom Penh, seeking a share in one of the last frontier markets in Asia. Additionally, legislation in 2010 that allowed foreigners to buy high-rise property paved the way for more inbound investments. The country’s economy has been growing around seven percent on average since 2010, attracting investors to buy up residential lands and units to tap on the growth opportunity in this fast-urbanizing nation.

Year Name Location Price Buyer Type (US$ millions) Origin

2013 - Phnom Penh 13.2 Singapore Apartment

2013 - Phnom Penh 11.3 Singapore Apartment

2015 D’Seaview Krong Preah Sihanouk 7.9 Singapore Apartment and Retail

Source: Real Capital Analytics, Knight Frank Research

82 83 RESEARCH DATA

Mainland China

MOST ACTIVE The acquisition of residential LOCAL NON-LOCAL BUYER development sites had been dominated by local buyers; the only

major foreign group of buyers came MAINLAND from Hong Kong. In first-tier Chinese 92.0% CHINA cities, domestic developers accounted 7.4% for 86.6% of the total sales value while Hong Kong took up 12.9% of the share for 2012 - 2016. As the market matures,

to some, the incentive to expand Year Name Location Price Buyer Type domestically is thinning as competition (US$ millions) Origin toughens and profit margin returns to 2016 - Kai Tak, Kowloon 697.9 China Apartment and Retail a normal level; to others, aggressive 2013 - Tsuen Wan, New Territories 438.7 China Apartment moves on land-banking is necessary 2015 - Castle Peak Bay, New Territories 223.2 China Apartment given a persistently strong demand Note: Only deals in Tier-1 cities are included for the market share breakdown analysis and undersupply in certain cities. Source: Real Capital Analytics, Knight Frank Research

Hong Kong SAR, China The land-buying activities in Hong MOST ACTIVE LOCAL NON-LOCAL BUYER Kong by mainland Chinese developers is widely reported in the press. In the past two quarters (Q4 2016 to Q1 2017), mainly driven away by harsh MAINLAND 92.0% CHINA cooling measures and the need to 7.4% hedge against the declining Renminbi, mainland Chinese developers have outspent Hong Kong developers and accounted for 62.1% of the total sales volume. Even though on the surface, Year Name Location Price Buyer Type (US$ millions) Origin from 2012 to 2016, developers based 2016 - Kai Tak, Kowloon 697.9 China Apartment and Retail in Hong Kong had stayed as the 2013 - Tsuen Wan, New Territories 438.7 China Apartment dominant buyers (92.0%), many of the 2015 - Castle Peak Bay, New Territories 223.2 China Apartment developers listed in Hong Kong have Source: Real Capital Analytics, Knight Frank Research roots in the mainland.

82 83 India

Recent property-related reforms DOMESTIC such as the Real Estate Regulation Act, REITs, foreign direct investment Notable Mentions: (FDI) and goods and services tax United States, United Kingdom, are encouraging to investors in the 87.7% Mauritius and Singapore long term. For foreign developers, this is especially true as the Indian government now allows 100% FDI into the real estate industry. As such, Year Name Location Price Buyer Type (US$ millions) Origin increasingly, foreign investors are partnering with local Indian developers 2014 - Multiple locations 376.8 United States Portfolio of seven (Partial Interest) apartment sites

to expand their footprints in India. For 2014 - Chengalpattu, Tamil 108.0 Israel Residential and 2017, the Indian economy is expected Nadu (Partial Interest) Commercial to grow by 7.4% which will help put its 2014 Aquapolis Ghaziabad, Uttar 86.3 United States Apartment Pradesh (Partial Interest) real estate market on the radar of many Source: Real Capital Analytics, Knight Frank Research investors.

Indonesia

With about 29 million Indonesians in their productive age, the fourth- Year Name Location Price Buyer Type most populous country in the world presents huge market potential for (US$ millions) Origin residential developers and investors. Through joint ventures and outright 2014 - Jakarta 33.0 Singapore Apartment and Retail purchases, many overseas investors are partnering with Indonesian 2012 - Jakarta 30.8 Malaysia Apartment developers to share risks and increase funding. Also, local developersa 2015 - Jakarta 30.8 Singapore Apartment will be able to speed up the development of their large land banks and and Retail leverage on international brand names and technical expertise from Source: Real Capital Analytics, Knight Frank Research foreign investors to boost the marketability of their projects.

Favourable foreign residency scheme, Malaysia low cost of living and strong economic potential make Malaysia appealing to international investors. In the past five MOST ACTIVE years, about 35.0% of residential lands DOMESTIC FOREIGN BUYER were purchased by foreign buyers, of which the majority was from mainland Notable Mentions: China. Johor state, which is just across CHINA Singapore, Australia and the border from Singapore, has 65.0% 20.9% Canada emerged among the top destinations for Chinese developers. Barren ground and reclaimed lands are being turned into high-rise luxury flats, targeting buyers from China as well as overseas Year Name Location Price Buyer Type buyers like Singaporeans. As its (US$ millions) Origin closest neighbour, the investment 2013 R&F Princess Cove Johor Bahru, Johor 1,396.1 China Apartment, Retail, O­ce and Hotel into Malaysian residential land by 2015 Tebrau Bay Waterfront City Johor Bahru, Johor 850.8 China Apartment, Retail, Singaporean investors has been O­ce and Hotel healthy – but significantly lower than 2015 Kuala Lumpur 497.8 Australia Apartment, Retail, Lifestyle Quarter O­ce and Hotel the Chinese from 2012 to 2016 ($964 Source: Real Capital Analytics, Knight Frank Research million versus $2.4 billion).

84 85 RESEARCH DATA

DOMESTIC Singapore

From 2012 to 2016, domestic Notable Mentions: developers constituted most of the 87.7% Australia, China, Hong Kong, Japan, market share at 79.0%; the rest of Malaysia and United Arab Emirates the share was split among different countries with none of them having

shares of more than 10.0%. In Year Name Location Price Buyer Type Singapore, developers face some of (US$ millions) Origin the most stringent regulations such 2014 - Multiple locations 376.8 United States Portfolio of seven (Partial Interest) apartment sites as Qualifying Certificate rules and 2014 - Chengalpattu, Tamil 108.0 Israel Residential and Additional Buyers’ Stamp Duty, as Nadu (Partial Interest) Commercial

the government aim to prevent land 2014 Aquapolis Ghaziabad, Uttar 86.3 United States Apartment Pradesh (Partial Interest) hoarding and encourage reasonable pricing. Source: Real Capital Analytics, Knight Frank Research

Thailand

Year Name Location Price Buyer Type (US$ millions) Origin

2008 The Lofts Southshore Bang Lamung, Chonburi 129.3 Kuwait and Apartment and Retail local JV

2008 Mahanakhon Bangkok 74.1 Israel and Apartment, Retail and local JV Hotel

2013 Ideo Q Chula Samyan Bangkok 45.7 Japan and Apartment local JV

Source: Real Capital Analytics, Knight Frank Research

The Thai residential sector is often favoured by foreign investors as a gateway to other ASEAN countries. While residential land investment activity by overseas developers to date seemed limited on the surface, some of the transactions were done in joint ventures with local Thai developers or acquisitions of stakes in Thai property companies, due to government’s restrictions on foreign ownership. Such strategic joint ventures are symbiotic as local developers may tap on the networks their foreign partners have in their home countries.

DISCLAIMER: The data above represents the findings of Knight Frank Residential Research and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments

84 85 THERE IS NO STOPPING VivaHomes Realty

Alvin Foo, CEO of VivaHomes Realty shares with Reena Kaur Bhatt his epic journey in the real estate industry and how his experience has helped him build and shape a premier agency that provides superior real estate service in the Klang Valley.

Do tell us about yourself and highlight What is the brief history of your experience in the real estate VivaHomes? How did it all begin industry. and what are some of the company’s For over 19 years, I have immersed milestones? myself in the real estate industry and At the point of VivaHomes’s inception, like many, I started off as a rookie we only had 10 real estate negotiators realtor. During my journey, I discovered in the team. Over the years, VivaHomes that there is more to selling properties has rapidly grown to be an industry than open homes, cold calls and leader with 12 branches scattered “We are determined to not only paperwork. At the end of the day, all through the Klang Valley and backed bring our clients great results that matters is the interaction and by a 600-staff strength. The agency’s but to also provide them with connection with your client – it is about continuous growth is testified by the the very best service. Our selling them homes, not houses. increase in year-on-year transaction results speak for themselves – After gaining invaluable industry value since 2012. Last year, our annual client recommendations and insight and establishing a solid transacted value surpassed RM1.5 testimonials keep pouring in.” networking connection, my partner, billion; it was RM200 million in 2012. Eric Yap and I made the leap to start We have also won numerous ALVIN FOO off VivaHomes in 2006. The key industry awards which acknowledge takeaway that I have gleaned from my VivaHomes’ efforts in delivering 2-decade long career is this – never quality, great service and innovation. underestimate the magic of teamwork. Some of the recognitions received in VivaHomes’ core strength lies in its the past few years were Most Dynamic ability to establish and maintain a Real Estate Agency Award, Agency solid relationship with the majority of Of The Year (Titanium) and Visionary the developers in Malaysia and our Real Estate Agency, garnered at the Asia-Pacific counterparts. We often iProperty.com’s Agent Advertising leverage on each other’s strength for Awards. all business matters including asset management, information technology Having been in the real estate agency development, event management as industry for the past 11 years, how does well as training programmes. VivaHomes strive to remain at the top Our simple objective is to revamp of the game? the conventional business model in At VivaHomes, apart from having Malaysia. Hence, my favourite mantra - a strong management team and “If you want to walk fast, walk alone. To dynamic workforce, we recognise walk far, walk with a team.” the importance of being ‘different’ in

86 87 AGENT’S VIEWS

order to sustain growth. As such, we clients or forming an alliance with through a supportive career promotion implement and practise the following business partners, we ensure the framework and new branch openings. strategies: highest level of integrity is practised By doing so, our reach spreads further, and observed. This is essential in faster and far more effectively. A “people first” approach building the VivaHomes brand name Understanding that the heart of our and cultivating the necessary trust for A company’s greatest asset is its business lies in the people, we go all lasting relationships. staff. What do you do to ensure your out to provide comprehensive service negotiators remain motivated and and support to our internal agents, Innovation and constant improvement continue to excel in their job? external clients as well as all of our In today’s fast-paced industry, change We always give a clear direction to all business partners. The agency’s is the only constant. Hence, we of our staff from the top management strategies and initiatives revolve encourage continuous learning and team to agents. We practice a fair around generating maximum value improvement in all aspects, especially and transparent commission scheme for each individual within our scope of over the quality of service, processes and there are no double standards as business. and procedures. This makes us more everyone is given equal opportunities dynamic, vibrant and agile, all which to thrive and move up the corporate Building long lasting corporate value are necessary in order to maximise ladder. The corporation nurtures and upholds value for our clients at all times. We All agents are properly trained values of honesty, commitment and also embrace the spirit of innovation and given the relevant support and ethics in everything that we do. From by encouraging entrepreneurial mentorship from the moment they join the hiring of new agents, servicing growth among our negotiators VivaHomes. This motivates agents to unleash their potential and achieve the impossible. We also believe in effort recognition and continuous motivation - branches and agents with outstanding performance are rewarded “The agency’s strategies and initiatives during our annual gala dinner. Besides that, our project team members are revolve around generating maximum entitled to a prestigious overseas trip upon fulfilment of certain criteria, thus value for each individual within our scope giving them the kind of experience that of business.” money can’t buy. 86 87 HIGH-END RESIDENTIAL 2017 Trends, demand & MARKET: potential

Dave Soh, team manager at MIP Properties shares some insights for investors and tips for prospective landlords.

How are high-end residential properties performing at the moment and what is your outlook for the sub-sector moving forwards? The economic slowdown aside, investors should always keep track of the bigger picture. There are different groups of people with various degrees of income levels, obligations and lifestyle requirements. And housing will always be in demand – people will either have to buy or rent, regardless of fluctuations in the economy. My personal observation – the high-end market is still moving, transactions are happening. Nevertheless, the movement very much depends on the right pricing; setting reasonable prices as per market demand is crucial. Considering that it is a buyer’s market, sellers who have the urgency to dispose of their high-end units must ask for realistic prices and settle for a lower profit margin. Aspiring purchasers will only make a move if they can score a good deal or even below market price properties. To stand out from the rest and help attract buyers, owners should put in the effort to add value to their properties. A simple touch up or refurbishment exercise such as repainting the unit will make a big difference.

88 89 AGENT’S ADVICE

I am thinking of investing in a high- end residential unit. Which areas/ neighbourhoods will offer the best potential in terms of securing a tenant? Prime addresses which are well- equipped with numerous conveniences and amenities including shopping malls, international schools, etc should be on investors’ radar. The sure shot areas are still Mont’ Kiara, Bangsar and the KL city centre. The main reasons being: 1) Mature market and market awareness – these established ‘expat’ areas are what foreigners look out for when hunting for a place to stay in Malaysia as these spots are usually recommended by their friends, relatives or business acquaintances. 2) Established transportation infrastructure and amenities – in my six years on the ground, i have What are some of the factors/tips to speaking to a few existing tenants. observed that those with children consider when purchasing a high-end Besides that, get a rough idea on will always base their decision to residential unit? the property’s quality by doing your purchase or rent on the distance and Investors should take note of the own due diligence on the developer’s convenience of commute to their following: background and past projects. childrens’ school rather than to their 1) Price: before purchasing, try to 4) Future developments: keep workplace. Properties located nearby gauge the demand and current yourself updated on what is going such schools and complemented going price for properties in the area. on in the area – will there be any by grocery stores, f&b outlets will Research for previous transactions developments which might enhance generate considerable demand. on websites such as brickz.com.my or degrade your tenants’ quality of 3) Bigger market for foreigners - these or consult your real estate agent. You your life? Are there new projects three areas which are located in must also ensure that the property which will further enhance the central KL instead of falling under is within the bank’s valuation (get competitiveness of your rental the Selangor state jurisdiction makes figures from at least 3 banks), is property? a difference to aspiring purchasers. reasonable or below market price, if 5) Accessibility: connectivity and Taking into account the state’s possible. a supporting road network are ruling over the minimum cap for the 2) Demand: check the occupancy everything to a purchaser or renter. purchase of properties by foreigners rate of the property with the No one would want to stay in an area where expats must adhere to the management. You can research which is difficult to traverse in and minimum selling price of RM2 million online and request agents to prepare out of. when purchasing properties in a report which justifies the rental rate 6) Unit’s condition: make sure to Selangor as compared to RM1 million as per the property demand in that inspect the individual unit which you for units located within KL. Hence, area. are thinking of purchasing. These the lower restriction will encourage a 3) Property maintenance: the more include checks for cracks in the higher number of expats to purchase well-maintained a property is, wall, leakages in the ceiling, timber instead of renting in these areas. the higher its potential for capital flooring’s condition, piping quality, 4) An increasing expat population appreciation. Perform a background etc. You would want to get a place 5) Located nearby many international check on the efficiency of the that is tenant ready. offices and grade A office buildings property management committee by

88 89 AGENT’S SPOTLIGHT

POLYGON PROPERTIES POLYGON PROPERTIES

DEREK SOH Senior Negotiator/ CJ HAH Group Leader Senior Negotiator/ Group Leader

Areas : KL, Penang, Johor Bahru & Kota Kinabalu Areas : KL, Penang, Johor Bahru Email : dereksohproperties & Kota Kinabalu @gmail.com Email : [email protected] Contact : (6017) 297 1641 Contact : (6012) 515 3851 REN 07153 REN 11541

We provide institutional & individual investors with in-depth We work with various prominent & reputable property comprehensive market research and analysis on our projects developers to bring only quality development to both & listings. In line with our corporate vision & mission, providing international & local savvy investors. structural education and support to our team members are our top priority.

ORIENTAL REALTY PROPLEAGUE (Kuala Lumpur)

DAVID YONG Senior Real Estate Negotiator EVON HENG Residential Manager

Areas : Johor Bahru Area Areas : KLCC, Ara Damansara, Email : johor Damansara @orientalrealty.com.my Email : [email protected] Contact : (6016) 700 4740 Contact : (6010) 225 7565 REN 10655 E2309

With more than 5 years’ experience in the real estate industry, I have been in the real estate industry for more than 9 years. I always maintain a good relationship with my clients. I am I have the experience and local know-how to help my clients passionate and enthusiastic in helping my clients get the best make the best possible decisions. Meeting new people and deal for their dream homes. helping clients find the right house to call home is my passion. We love to create more leaders to work together as a team.

90 PB SUPERSTAR AGENTS

30-3-2, JALAN 1/101C, CHERAS BUSINESS CENTRE, 56100 CHERAS, KUALA LUMPUR Tel : 03 9133 3232 Website : www.propleague.com Email : [email protected]

CHERAS CHERAS CHERAS

Eddie Loo Cynthia Sanchez Steven Tay 012 284 3155 012 283 7122 012 274 8399 Mont Kiara/ KLCC & KLCC & Ampang Hillir Klang Valley Hignend Klang Valley Residential Project Division Residential/ Commercial Cynthia.sanchez7122 [email protected] [email protected] @gmail.com

CHERAS CHERAS KUALA LUMPUR

Jamie Chen Ocean Lee Cliff Siow 012 337 7292 017 846 6992 017 555 5422 KLCC Bandar Tun Hussein Onn & Cheras/ KLCC/ Residential/ New Project KLCC [email protected] Residential Residential/ New Project [email protected] [email protected]

KUALA LUMPUR KUALA LUMPUR KUALA LUMPUR

Thomas Lai Eunice Yong Vincent Foo 016 568 0517 017 628 9994 016 511 2872 Ara Damansara Petaling Jaya/ TTDI KL Ara Damansara Residential/ New Project Residential/ New Project Residential/ New Project Thomaslai.property [email protected] [email protected] @gmail.com

KUALA LUMPUR MONT KIARA MONT KIARA

Kenex Seng Diana Poo Edmond Chau 012 224 8752 010 931 4953 012 668 0022 Ara Damansara/ Glenmarie Mont Kiara/ Publika/ mont Kiara Residential/ New Project Desa New project/ Subsales/ [email protected] Residential/ Commercial Rental [email protected] edmondbass.property @gmail.com

MONT KIARA MONT KIARA MONT KIARA

Rachael tan Eric Leong Esther Yee 012 390 1026 012 554 8429 012 631 3247 Desa Parkcity Desa Parkcity Bukit Jalil/ Dutamas/ New Project/ Sub Sales & New Project/ Sub Sales & Lakefield’s Rental Rental Residential/ New Projects rachaeltan.property [email protected] [email protected] @gmail.com

PB 91 E-G-07, E-1-07 & E-2-07, CAPITAL 5, BLOCK E, OASIS SQUARE, 2A JALAN PJU 1A/7A, ARA DAMANSARA 47301 PETALING JAYA SELANGOR

Registration No. E (1) 1197 Tel : 03 783 25577 Fax : 03 783 27701 Website : www.cbd.com.my Email : [email protected]

ARA DAMANSARA ARA DAMANSARA ARA DAMANSARA

Julie Yong Eva Koi Joanne Soh REN 09121 REN 09119 REN 13124 012 382 5998 012 341 9892 012 297 6506 Mont Kiara & KLCC Desa Parkcity Semenyih/ Balakong/ Luxury condominiums Landed/ Condominiums & Puchong/ Shah Alam & KLCC [email protected]/ Commercial Land/ Factory & Bungalow/ klluxuryproperty.com Awarded by MIEA ‘Top Condominiums for KLCC & Residential REN” Year 2016 Desa Park City [email protected] [email protected] / [email protected]

ARA DAMANSARA ARA DAMANSARA ARA DAMANSARA

Jimmy Leong Jason Teo Eunice Pang REN 10773 REN 10743 REN 01657 010 799 3238 010 232 3967 017 377 0949 KLCC/ Bandar Utama Bukit Serdang Mont Kiara & Damansara Bungalow & Land Condominium & Landed Semi-D/ Bungalow [email protected] [email protected] [email protected]

ARA DAMANSARA ARA DAMANSARA ARA DAMANSARA

Tracy Voo Lily Hun Jocelyn Tan REN 10762 REN 09272 REN 09122 012 227 6778 012 657 5682 012 281 7277 / Old Klang Road Mont Kiara Mont Kiara/ Bangsar/ Landed house Residential & Offices KLCC/ PJ [email protected] [email protected] Residential [email protected]

ARA DAMANSARA ARA DAMANSARA ARA DAMANSARA

Catherine Chai Jimmy Lee Shermine Lim REN 09255 REN 10744 REN 09128 012 383 9275 016 500 8660 012 327 1788 Tropicana Ara Damansara, Specific property type Bungalow, Semi-D, DSL, SS2 Petaling Jaya, Bangsar Industrial & Commercial/ Condominium & Apartments Residential Shop/ Warehouse/ Factories [email protected] [email protected] & Land/ Other Residential at ad-hoc basis [email protected]

PENANG PENANG PENANG

Linda Liew Yeoh Lien Thong Wong REN 10754 REN 10111 REN 05057 012 483 1153 019 520 3313 010 566 4141 Gurney Drive/ Tanjung Penang Island George Town/ Greenlane/ Tokong/ Tanjung Bunga & Commercial Gelugor/ Bayan Baru & Bayan Batu Ferringhi Lepas [email protected] Subsale & Rental of Landed Residential & Landed and Condominium (all categories) and some [email protected] developer’s projects as well [email protected]

92 93 SUPERSTAR AGENTS

5A, 1ST FLOOR, U.P GROUP JALAN RANGOON, 10400 GEORGE TOWN, PENANG. Tel : 04 226 9777 Fax : 04 228 9777 Mobile : 010 527 0177 Website : www.upproperties.my (1037877-D) Email : [email protected]

PENANG PENANG PENANG

Michelle Beh Darold Tan Jonathan Lee 010 373 3001 016 493 2520 012 433 2820 Tanjong Tokong Penang Island Tanjong bungah/ jelutong/ Residential on Sub Sales/ New project/ subsale/ greenlane Georgetown area Rental commercial/ residential New projects & subsales [email protected] [email protected] residential commercial/ rent [email protected]

PENANG PENANG PENANG

Adrian Rajamoney Jinz Yeoh Rainie Lee 012 428 9800 016 408 4506 016 446 1617 Pulau tikus/ Tanjung tokong/ Tanjung Bungah/ Tanjung Penang Island Tanjung Bunga/ Tokong/ Gelugor New Project Batu Ferringhi Residential/ Commercial/ [email protected] Rent/ Residential/ Subsale/ Rent commercial [email protected] adrian.rajamoney @gmail.com

PENANG PENANG PENANG

May Ng Jlyne Lee Jeece Chan 016 446 6238 016 374 1388 014 909 9531 Penang Island & Tanjung Tokong/ Tanjung Georgetown/ Relau/ Sungai Penang mainland Bungah/ Gurney Drive, Ara/ Tanjung Tokong Residential/ Subsale/ Rent Penang Sub-sale/ Residential/ [email protected] Residential/Subsale/ Rent Commercial/ Sale/ Rent [email protected] jeecechan.properties @gmail.com

PENANG PENANG PENANG

Tan chong wei Jane Khor Sharon Cheng 012 424 7717 016 440 5425 016 447 9642 Penang/ Butterworth/KL Penang Penang Property investment & Residential/ Subsales Residential/ Subsale management/ individual & [email protected] [email protected] group investment/ rental marketing plan/ long & short term property investment planning [email protected]

92 93 Shocking 304 EOTs issued by the Controller of Housing This article is a continuation of our last month’s article - EOT ruled irregular by Court of Law.

The issue of Extension of Time of the Minister and his Ministry. They (EOTs) was a controversial one and were supposed to ensure that the Parliamentarians were up in arms and terms and conditions of the statutory demanded that the Government reveal SPA are observed and complied by the statistics on the number of EOTs the housing developers whom they issued; number of buyers affected licensed. If the Minister had swiftly and deprived of their rights and acted and strictly enforced the entitlement to liquidated ascertained letters of the housing development damages (LAD) for late deliveries, legislation there would have been no naming of those housing developers need for any EOTs. Why the lax and who benefited from the EOTs fiasco lack of monitoring, supervision and and the projects involved as well as the policing of each housing project? so-called ‘special circumstances’ that warranted granting of EOTs to those developers.

A whopping 304 EOTs The current Minister of Urban Wellbeing, Housing & Local Government, YB Tan Sri Noh Hj Omar has just declared the statistics in the current Parliament sitting on 3.4.2017, attached is an excerpt of the statistics from #TanyaMenteriKPKT # Parlimen 2017. It is indeed shocking that a total number of 304 EOTs have been issued by the Minister and those under his charge. The only word to describe this happening is “OMG”. It is a repulsive and divisive act against house buyers’ rights and their lawful entitlement. We are utterly shocked and disappointed with the atrocious numbers of EOTs and gross injustice inflicted on naïve and innocent buyers inclusive those first timers. 304 EOTs is by no means a small number. No matter how justified it may seem to be, in the eyes of the Minister, it is absurd and devoid of wisdom and a pure dereliction of duty

94 95 REGULARS

With the 304 EOTs issued, let’s keruntuhan tanah dan juga ‘stop assume that there is each condo order’ daripada PBT” (natural disaster, project has an average of 350 units, it flooding, landslides and ‘stop-order’ equates to 106,400 affected victims issued by Local Council). of this unjustified act of granting EOTs. The developer should not be allowed Say, each buyer has a family of four to take advantage of his own wrong (4), it means that as many 106,400 doings, ineptness and bungling. Some buyers had been denied compensation reasons are self-inflicted and not in the form of LAD at the stroke of Act of God. Local Council licenses a pen, affecting a total of 425,600 construction at site (of development people! What or who gives the Minister projects) between the permitted the right to give away money which hours of 8.00am until 6.00pm on rightfully belongs to the house buyers? weekdays and Saturdays. In situations Stranger still is the interpretation where developers defy the laws and of the so-called grounds for the continue with construction works granting of the extension, the: beyond those permitted hours ie say “Special circumstances or hardship or until midnight, surely it will incur the necessity” that the Minister mentioned wrath of the neighbors and Local in Parliament namely: “kejadian Council must heed the complaints of bencana alam, projek banjir berlaku, those affected in the vicinity by issuing ‘stop-order (for defiance). Aren’t those circumstances ‘self-inflicted’? Or for that matter: ‘flooding’. Would a neighborhood suffer flooding if the developers had properly planned and built sufficient drainage, slit drains and discharge outlets? Similarly, would a place suffer a landslide, if the developers had planned and built retaining walls sufficient to avoid such happenings? Are these not ‘self- inflicted’? The provision for granting of EOTs is not for run-of-the-mill excuses; the process is not transparent; and it reflects lack of integrity in the law- making process, and its observance by developers; it opens the door to possible corruption in the housing- construction industry. Has our country now reached a state of economic crisis that the Minister must dish out EOTs to developers who are already in distress (due to bad management) and threatened to abandon their projects? Don’t buy unless you get ‘no EOT’ assurance from your housing developers. Prospective house buyers should hold off their purchases for now due

94 95 to a lack of certainty on when the the standard terms of an SPA, the LAD housing developers) in Form 7F. property they wish to buy will be for the late delivery of houses is 10 One wonders whether the Ministry completed: will it be within 24 months percent of purchase price per annum. has enough qualified personnel to for landed property or 36 months for The practice of granting EOTs to diagnose any sign of sickness in a stratified property OR will the housing housing developers started when housing project. Otherwise, how developers seek the Minister and his the ministry was headed by the then do you account for the prodigious Controller of Housing’s intervention Housing Minister, Dato Seri Abd numbers of problematic housing for an EOT ranging for extended Rahman Dahlan, and is now continued projects simply dissected into three (3) period of 6 – 24 months (without LAD under the current Minister, Tan Sri Noh categories termed: abandoned, sick compensation). Omar. and late? Prospective house buyers The figures are so mind-boggling. The minister can even take over a should continue to hold off their How could they have issued the EOTs housing project under Section 11 of the purchases until the Housing Minister to developers to save developers at the HDAct, if a licensed housing developer unequivocally assures that he and detriment of the house buyers? acts and conduct business to the his subordinates would not grant any The fault lies with the lack of detriment of house buyers. Has Section further extensions of time. In addition, enforcement and supervision by the 11 of the HDAct been invoked by these house buyers should demand for ministry, which is empowered by ministers to protect house buyers? If developers to issue an irrevocable several provisions under the Housing they had invoked Section 11 to protect written undertaking that they would Development (Control and Licensing) house buyers, the issue of EOT will not seek EOTs from the Minister or the Act 1966 (HDAct) to take preventive never arise. Controller. actions against defaulting project Meantime, the case is expected to With the possibility of EOTs hanging development. Symptoms could be go to the Court of Appeal and parties over the buyers’ head, buyers can’t diagnosed through the quarterly are waiting for the court’s written plan their time. Assuming a first-time lodgment of progress report (by judgment on the case. house buyer wants to get married – they thought their apartment should be ready in 36 months but subsequently it got delayed by a year. Never mind, after one year thr buyer thought that they can get compensation of LAD in lieu thereof. But alas, the Minister gives an EOT and the buyer gets nothing. Having paid for rental (for accommodation while the house is being built) and having paid to service interest, affected buyers/ victims will not be getting any LAD at all in lieu of being delayed. To make matters worse, the house buyers were never consulted on the EOTs, even though the only parties of a sale and purchase agreement (SPA) is the home buyer and the developer – not the government. In some cases, the house buyers are not even aware of the EOT until they had been handed the keys to their new house, together with a notice of the EOT and the realization that they would not be able to pursue damages. Under

96 97 REGULARS

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

96 97 When “Good Luck!” Is Not Good Enough

The essence of all subject matters in Chinese Metaphysics leads us to doing the right thing at the right time.

Are you in the right place at this very moment? We often hear about people being “in the right place, at the right time” to reap benefits of circumstance and credit it to sheer luck. What if ‘luck’ is a skill that one can acquire? The essence of all subject matters in Chinese Metaphysics leads us to doing the right thing at the right time. Time, space, event, and matter are all energy forms that by utilising a space at the right moment initiates the right Qi (energy) that helps promote better harmony and a good culture amongst people that are in that specific location. Now, how does it really work? What’s the difference between today and tomorrow or even this hour and the next? Energy fluctuates with time as we learn in all subject matters in Chinese Metaphysics. Date selection enables us to choose the best timing with three kinds of luck factors considered. The Cosmic Trinity consists of Heaven luck, Man luck, and Earth luck. To yield the best results in anything that we do, we need for all three luck factors to resonate and support the activity. The top three occasions that people would use Date Selection for are for moving in to a new office, getting married, and renovating their homes. Contrary to popular belief, moving in to a new home is very different from moving in to a new office.

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Officiating a new home is when you utilise the home as an occupant; Having your meal there as well as staying the night. You surely do not stay the night in the office now, do you? For offices, the move in is officiated by the first transaction in the office where you utilise the new space as a commercial. Did you know that Date Selection for offices would also be different for different kinds of businesses? The element of the business nature would also make a difference to the date that would be selected for the office move in. Date Selection for a retail outlet would be different from an accounting firm’s and it would also be different for a startup hub. For the moving in of an office, Dato’ Joey Yap is the leading the auspicious date selected needs to suit not just the business nature, but also Feng Shui, BaZi and Face the location, the orientation of the building, the business owners, and more. Reading consultant in Asia. The process is not as easy as picking a ‘Success Day’ in the Tong Shu (Chinese He is an international speaker, Almanac). Date Selection is a complex affair that tailors the time, space, event, bestselling author of over 160 and matter, to kick off an experiential continuum that yields the best results for books and master trainer in the occasion. Chinese Metaphysics. If you are interested in selecting a personalized good date for an occasion, it’s recommended that you turn to a professional Chinese Metaphysics consultant. Joey Yap Research International & Mastery Academy of Chinese Metaphysics 19-3, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Malaysia. Tel: (603) 2284 8080 Fax: (603) 2284 1218 Website: www.masteryacademy. com / www.joeyyap.com

98 99 REGULARS

HOUSE MOVING IN CEREMONY What, How & Why

Master Paw Sandy details out the procedures involved in this important rite of passage for new homeowners.

When shifting homes, it is not just important to clean every nook and cranny, a moving in ceremony should be held as well. This step is especially important as the rite ensures a peaceful life for your family and ushers in good luck for your new abode as well. Especially considering that this new place presents a brand new environment, the moving in ceremony serves as a fresh start or new beginning for the entire family.

Here’s what new homeowners should observe:

1. Choose an auspicious date and time from ‘’Tong Shu’’, the traditional Chinese almanac. Make sure the date and time do not clash with any Chinese zodiac of family members.

2. After renovations are completed, move in and place all furniture into the house before moving other items.

3. Hang a red cloth and radish with leaves above the main entrance. This is to represent ‘’bring in the good luck into the house.’’

4. Charcoal, rice, oil, salt, sauce, vinegar and tea are the basic elements of daily life. Therefore, they should be prepared beforehand.

5. Before moving in, sprinkle some tea leaves, rice and salt at every corner of the house to get rid of bad energy.

6. The eldest member of the family enters the house first with a lucky Master Paw Sandy is a famous item such as pineapple, rice pail or money. Then he/she needs to switch Feng Shui consultant in Malaysia. on the light and put on music for the house to be energetic and lively. She is also the first person in Never enter the house empty handed – your pockets should be loaded! the Southern region of Malaysia 7. Place the stove in front of the main door and each family member will who established a company that need to cross over the stove in sequence and shout out auspicious merged Feng Shui with interior words. design. The fusion between these 8. After this, cook glutinous rice balls in the kitchen and every family two allows her work to be both member have to eat them, representing family union and the growth of wealth. precise and functional at the same time. Her transformative 9. Hold an open house or invite other people to your new home to ener- interiors are enjoyed by gize and make the home livelier. All family members will need to stay overnight in the house on that day. numerous commercial enterprises.

100 PB

How to make a rental look like it’s your own

Two Aussie Reno When you’re saving to buy your Dean totally agrees and believes experts, experienced own apartment or make the leap into nothing makes your faux home feel the property market, you would be like you are actually home than some home renovator, forgiven for having the odd pang of beautiful pieces of art or prints. Shelley Craft, jealousy and longing to own the rental He adds: “Be mindful that you’ll need and building and you are in. to repair any damage caused to walls.” sustainability expert Thoughts like “I wish this were ours” Dean Ipaviz share their or “if only we had a spare RM800,00o” tips on how to make might regularly pop up, particularly if a rental property your you are renting somewhere quite lush. own. Never fear – there are ways to own the space and put your individual flair and style on a rental, without signing your life away.

Be creative with art Shelley’s top piece of advice is to feature art on the walls of your rental to bring your personality in. “There’s nothing more personal than art you’ve collected hanging on the walls of your home, so if the landlord will give you permission to hang it, then go for it,” she says.

102 103 CONSUMER AWARENESS

Go crazy with wallpaper weeks after you’ve painted,” says Because, why not? If you love bold, Dean. eclectic looks – or even just “There’s an amazing Australian- want to add a cute motif to your owned company called Ecotour, which kids’ room – then wallpaper offers a is producing serious quality paint win-win in a rental. that has zero VOCs! Best of all they “There are many removable deliver it to your doorstep. You’ll cover wallpapers on the market that don’t 14sqm per litre and don’t forget you’ll require paste or glue which can probably need two coats!” instantly add vibrancy,” says Shelley, “but make sure you check with the Design it with love landlord beforehand so you don’t When it comes to styling your rental breach your contract.” property to make it feel like yours, take “Wall decals are also an easy update, the time to choose soft furnishings so especially for kids’ bedrooms, and can you can inject it with personality. be easily removed or changed as little “Lamps, rugs and cushions are great ones grow older.” additions and give a home individuality and cosiness,” says Shelley. “These, Embrace indoor plants alongside other accessories such as Without a doubt indoor plants are one plants and books, can liven up any of the easiest and cost-effective ways space and quickly make it feel like to stamp your style on a space. home.” “Think fiddle leaf figs, mother- in-law’s tongue, Devil’s ivy, rubber plant and the Philodendron,” says 4 ways to update your rental on a budget: self-confessed ‘plant-powered environmentalist’ Dean. “Fiddle leaf Shelley Craft shares her top tips on freshening up a rental apartment with minimal spend. figs can be quite temperamental, so do your homework on these guys before 1. Dress up an outdoor area. This can be very inexpensive and instantly gives investing as they can be expensive.” you another space to spend time with family and friends, making your rental property feel larger.

Get painting 2. Both indoor and outdoor plants give an instant refresh and are cost- As long as you seek permission from effective. your landlord, you can paint your 3. Rugs are ideal for renters as they’re something you can easily take with rental. Painting is possibly one of the you from home to home. The right rug is a great way to add visual interest easiest ways to breathe new life into a and warmth to a space and will help you achieve a balance of hard and soft space – and figuratively own it. surfaces underfoot. “If you think there’s some longevity 4. Changing the blinds can help make the place feel like your own, even on a in your lease, pull out the paint brush budget. The right blinds will also help you control light and privacy while and remember to use products that adding style. have low or no VOC (volatile organic compounds) – you don’t want those nasty smells causing headaches for Source: realestate.com.au

102 103 5 Sustainable flooring options

Your home’s floor will The decision about what to use for your floors, or what to replace them with, not only affect the is an important one as usually you will not change the floors in your home very often over the years. design and feel of the The issue of sustainability must now also be considered, and this includes the space. It can also affect floor surfaces and whatever you cover them with, such as decorative rugs. your health, and that The range of materials and colour options for floors are now huge. Thankfully, of your family, and the sustainable options are also growing. have an impact on the When you’re considering floors, think about who lives in your home and the environment. areas you spend most time in. How much foot traffic is a room or passageway going to have and how much will it need to withstand? If you have young children, pets or people with health conditions such as asthma, these things will also influence your choices. Finally, you need to think about how much time you want to spend cleaning and maintaining your floors. The 5 sustainable flooring options are:

Sustainable carpet If you are keen on carpets, wool, sisal and jute are great choices. There are now carpet companies that actively reduce carpet’s impact on the environment. There is even one that uses recycled carpet backing, which results in more than 1200 tonnes of waste carpet being diverted away from landfill each year. Recycled carpet tiles are another alternative for people looking for carpets. They divert 600ml drink bottles from landfill and you then also have the option of an eco-friendly underlay.

Bamboo Bamboo flooring is a sustainable alternative to timber floors and is now widely available. Bamboo is actually a grass that shares similar characteristics

104 105 CONSUMER AWARENESS

as hardwood. It’s durable, easy to water, power or chemicals for cleaning. maintain, easy to install and it looks Lino can be dried easily and is great for great. wet areas, preventing the build-up of Bamboo is sustainable because it is mould and mildew. very fast growing, reaching maturity in Consider what lies beneath three to five years. Bamboo is a light One of the main sources of Volatile material and you can find it in a variety Organic Compounds (VOCs) that’s of colours to match your décor. often overlooked is carpet backings and underlays. Polished concrete Make sure that what you have Polished concrete floors are underneath your natural flooring increasingly popular and it can be option is also non-toxic and comes an excellent environmentally friendly from a sustainable, renewable source. flooring material, particularly when You can find a range of recycled manufactured out of recycled plastic rugs which feel amazingly materials. soft. Rag rugs and those made from Polished concrete has long life cycles recycled cotton are also lovely. and is energy efficient. It improves You can even have a go at making indoor environmental quality and there one yourself. Wool is a sustainable are endless design options. Concrete material, so choosing a woollen rug is a floors can be not just functional but great sustainable option. also aesthetically beautiful – and they Along with wool, natural fibres such are excellent for trapping and releasing as hemp, jute and sisal are not only heat. beautiful underfoot and lovely to look at but offer strong sustainable aspects. Recycled timber Second-hand and recycled products are also an option. Recycled and Source: realestate.com.au reclaimed timbers are now being used more widely for flooring. You can find a range of salvage yards and speciality recycled timber companies, and reclaimed timbers can be extremely beautiful.

Natural lino Natural lino products (not to be confused with vinyl) are a great choice. Lino is a durable, long-lasting floor covering made from a renewable resource that is biodegradable. It can be swept, which reduces the need for

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Top tips for

For planningmany people, the kitchen your is the centre new of the kitchenhome, so getting the design right can be crucial.

stick to your renovating budget and eliminate potentially costly mistakes during construction.

CONSIDERATIONS • Budget • Existing gas or electricity • Plumbing • Bench height (standard 900 mm) • Whether the main user is right or left handed • How many people will use the kitchen • Design and colour • Allow 300 mm beside cook top so pots and pans sit safely

KITCHEN CUPBOARDS Kitchens come in myriad styles and designs, but are primarily sold as separate modular units or are custom- built from scratch. Many kitchen Renovating your kitchen is an PLANNING companies are flexible and it’s possible exciting project, and often a costly Have plans drawn up for your kitchen. to combine both mediums. one. But done properly, kitchens can A professional designer will know add value to your home and are a how to maximise space and can make Flat pack DIY or DFY (done for you) great room to invest in. Focus on what sure your living needs are met. You Flat pack kitchen units come as a set you do in the kitchen. What you have can draw plans yourself if you have an size and are generally available off-the- to store? What do you want hidden? understanding of cabinetry and use of shelf from your local hardware store or What do you want on show? How long space, and many DIY stores will offer specialist kitchen shop. The modular will you be at the house? If this is your floor plans and free advice to work units are dismantled and lay flat on the dream kitchen in your dream house, go with which could save you money shelf ready for a DIYer or tradesman to all out. If it’s a property you’ll be selling in the design phase. Many kitchen build. If you have any doubt about your or renting out in a year or two, keep manufacturers offer complimentary DIY ability, have a tradesperson install those bespoke extras to a minimum as advice from those in the know and it for you. Your kitchen cupboards you won’t be the one using them when professional plans will ensure an bear a lot of weight, as does your work you sell up. But where do you start? accurate quote, which could help you bench.

108 109 CONSUMER AWARENESS

picked. In most instances, one or two • Stainless steel cupboards will need a little modifying • Plant and water-based paints with at the back to allow for cables, plugs low VOC and hoses. • Tight fitting cabinetry to limit vermin • Allow 300mm beside cook tops so If you opt for a ‘green’ modular pots and pans can sit safely kitchen, don’t forget it comes as a • Avoid placing your cook top/oven package, so you will have to stipulate next to the fridge; otherwise, it will which components you want to have to work twice as hard to cool replace.

Custom-built DFY If your budget is not holding you back then a custom-built kitchen could be the choice for you. Bespoke designs come at a price, but give flexibility to use every inch THINK GREEN FLOORING of space. Plus, you’ll have a choice of With so many choices available for If you go to the effort of installing a materials to create the style you want, your new kitchen, renovations could new kitchen, you will probably want to from French provincial to traditional be the time to go a little greener and lay a new floor. There are many options timber. Common materials used do your bit for the environment, also for flooring, and your budget and include timber veneer, polyurethane, known as ‘Greenovations’. You can personal style will be the major factors solid timber, metallic polyurethane, start by switching to water efficient when choosing a suitable surface. laminate, stainless steel or stone. appliances and fittings, which are Make sure the surface is hardy and able But, if you’re in a hurry, a custom- identifiable by the national rating to withstand wear and tear, especially built kitchen may not be the right system – the more stars on the label, if you have children. Laying vinyl floors choice for you, as construction does the more water efficient the product occurs after kitchen installation; lay all not start until it is ordered. is. Many environmental trusts also other surfaces before installation. recommend: APPLIANCES • Durable, easy-to-clean, It’s important to choose your well-ventilated gas appliances Source: realestate.com.au appliances before finalising your • Sustainable timber, bamboo, cork, kitchen to ensure they fit and have tiles, concrete, stone or timber clearance around them that conforms veneers with zero or low volatile to local standards. Ensure there’s organic compounds (VOC) sealants enough ventilation around appliances • No PVC edging tape such as wall ovens and fridges and • Eco-accredited laminates and check the manufacturer’s installation particleboard guides in case there’s anything a little • Glass and tile splashbacks with zero different about the machine you’ve or low VOC adhesives

108 109 Leaf love: The best plants to grow in your bedroom

Fabian Capomolla, aka Bedrooms are our sanctuaries. If we’re lucky, we spend at least eight hours a The Hungry Gardener, day in them. But of all the rooms in the home, bedrooms are often overlooked as places to grow plants. gardening author and We bring laptops, mobiles and even TV screens into our bedrooms, yet often TV Host shares his tips forget about more calming additions like plants. and tricks on how to The way I see it, bedrooms are a perfect place to add a bit of nature. The greenify your bedroom. bedroom is our most personal space; a place where we can be as creative as we like when it comes to decorating with greenery. Bedrooms are also places to rest and relax. For quality of sleep, a few plants next to the bed could make all the difference. Personally, I love the idea of waking up to a view of lush indoor plants. It’s all about bringing calm, natural elements into your space. Indoor gardening is such a simple way to enhance wellbeing. When selecting greenery for your bedroom, think about available space, light and humidity levels. If your space is large and sun-filled, an indoor tree in a large container could work wonders. Look out for mature fig species and palms. Even in a small-sized bedroom, an indoor tree can make the space feel cosy. You just need to choose a tree (or tree-like plant) that works for you. Dracaenas, euphorbias, leafy philodendrons on poles and umbrella trees are all worth considering. You can also elevate plants to maximise their exposure to light in the bedroom by using a plant stand, chair or shelf. Groups of smaller foliage plants look great displayed this way in classic terracotta pots with matching drip trays to catch any excess water. Here are some other plants that will transform your bedroom into an urban oasis.

110 111 CONSUMER AWARENESS

Succulents Leafy plants Tasmanian blue gum (Eucalyptus Succulents are fantastic for a sunny Leafy green foliage brings calmness globulus) and silky oak (Grevillea windowsill in your bedroom. You can and tranquillity into the bedroom. robusta), which can work surprisingly easily grow them from cuttings and Plants that excel in this regard well indoors. apart from sunlight and a monthly include heart-shaped philodendrons With gums, just be prepared to take water, they need very little else. (Philodendron hederaceum), Devil’s ivy them outdoors when they outgrow Aloe vera is a good choice for (Epipremnum aureum) and English ivy your indoor space. the bedroom because it actively (Hedera helix). filters toxins, such as benzene and All these plants have trailing foliage, Container gardens formaldehyde, from the air. It’s also so they work well in hanging baskets or Grab yourself a large ceramic pot and great for applying to skin after a long, displayed atop bookshelves. plant an indoor garden inside it, then hard day’s work in the sun. sit it atop your bedside table. Co-plantings in the same container are a great way to get creative with your greenery. When selecting plants, go for species with similar watering and soil requirements. Pick a range of succulents with different colour tones, or combine a few hoya varieties in the same pot. Hoyas will produce a great waxy bloom given the right conditions, too.

Source: realestate.com.au

Night-workers Indoor trees Plants typically produce oxygen An indoor tree can make your through the day via photosynthesis. bedroom feel like a jungle at home. But the rare few work at night, too. I’ve mentioned a few trees already, but Amongst them is the variegated there are a huge number of classic and snake plant or mother-in-law’s tongue unusual species that grow well indoors. (Sansevieria trifasciata), which has At the classic end of the spectrum, the added bonus of being super rubber trees (Ficus elastica) can low-maintenance and an air-cleaning transform a bedroom space. More plant. Team one up with an aloe vera to unusual trees to experiment with create the A-team of bedroom plants. include Australian natives like

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PROPERTY BELOW RM500K Serdang, Vista Impiana, Seri Kembangan, Serdang, Vista Impiana, Seri Kembangan, Salak Selatan, Ritz Condo, Condominium, Condominium, SALE, RM 285,000, 3r2b, Condominium, SALE, RM 285,000, 3r2b, SALE, RM 300,000, 3r2b, BU800sqf, BU820sqf, KL Chin, 6012-298 6982 / BU820sqf, KL Chin, 6012-298 6982 / Desmons Ong, 012-649 8798, REN:09708, 6012-291 6982, REN:00696, E(3)1315, 6012-291 6982, REN:00696, E(3)1315, E(3)1644, UP5345053 UP4837458 UP4707428

Cheras, Suria Court, Cheras South, Port Klang, Gravit8, Port Klang,, Serviced Ara Damansara, Maisson, Condominium, Shah Alam, Puri Aiyu Condominium, Apartment, SALE, RM 350,000, 3r1b, Residence, SALE, RM 350,000, 1+1r1b, SALE, RM 368,000, Studior1b, BU500sqf, Condominium, SALE, RM 380,000, 3r2b, BU1104sqf, Alex Yap, 017-272 3667, BU631sqf, KC Hum, 011-5280 8250, Andy Low, 018-382 9881, E(1)1509, BU912sqf, Mohd Shariman, 019-315 3908, REN:18192, E(1)1395/7, UP5198404 E(1)1307, UP5006152 UP5366178 REN:18051, E(1)1321, UP5358193

Seri Kembangan, Villa Pavilion, Taman Puchong, The Wharf Residence , Taman Cheras, Bayu Tasik 1, Condominium, Old Klang Road, The Scott Garden Bukit Serdang, Condominium, SALE, Tasik Prima, Condominium, SALE, RM SALE, RM 435,000, 3r2b, BU1250sqf, Fiqri SOHO, Duplex, SALE, RM 448,000, 1r2b, RM 388,000, 3r2b, BU1043sqf, Eilenn 418,000, 3+1r2b, BU1174sqf, Eilenn Chan, Hazim Rozmi, 013-229 0652, E(1)1545/4, BU775sqf, Marcus Yee, 016-561 9596, Chan, 019-312 0812, REN:20510, E(1)1307, 019-312 0812, REN:20510, E(1)1307, UP5154178 REN:07229, E(3)0812, UP5352414 UP5137787 UP5337987

Sentul, Sentul Point, Service Apartment, SALE, RM 485,000, 3r2b, BU1001sqf, CM Lee, 016-317 6894, E(1)1634, Cheras, Suasana Lumayan, Bandar Tun Seri Kembangan, Villa Park, Condominium, UP5190529 Razak, Condominium, SALE, RM 450,000, SALE, RM 455,000, 4r2b, BU1106sqf, 3+1r2b, BU1142sqf, Fiqri Hazim Rozmi, 013- Eilenn Chan, 019-312 0812, REN:20510, 229 0652, E(1)1545/4, UP4211043 E(1)1307, UP5013141

PROPERTY @ KLANG VALLEY Old Klang Road, The Scott Garden SOHO, Cyberjaya, Serin Residency, Condominium, Sentul, Rafflesia, Condominium, SALE, RM Duplex, SALE, RM 498,000, 1+1r2b, SALE, RM 499,000, 4+1r3b, BU1436sqf, 540,000, 3r2b, BU901sqf, LA901sqf, Fiqri BU775sqf, Marcus Yee, 016-561 9596, Eilenn Chan, 019-312 0812, REN:20510, Hazim Rozmi, 013-229 0652, E(1)1545/4, REN:07229, E(3)0812, UP5352312 E(1)1307, UP4814113 UP5236358

KL City, Menara Centara, Office, RENT, RM 3,500, BU1991sqf, LA1991sqf, Gloria Wong, 012-329 0629, E30776, UP4558307

Damansara Heights, Seri Beringin, Semi-detached House, RENT, RM 13,000, 4r4b, BU3500sqf, LA4000sqf, Raymond Loke, 016-564 5808, Setapak, Platinum Hill PV 5, Condominium, RENT, RM 1,500, 4r2b, BU1272sqf, John Yeoh, 011-1336 REN:10714, E(3)1524, 7782, REN:21231, VE(3)0323, UP5322833 UP4641338

Damansara Heights, Seri Beringin, Bungalow House, RENT, RM 19,000, 4+1r5b, BU4400sqf, LA6181sqf, Sungai Buloh, TAMAN SRI PUTRA Raymond Loke, 016-564 3, SUNGAI BULOH, 3-sty Terrace/ 5808, REN:10714, E(3)1524, Mutiara Damansara, Pelangi Square Link House, SALE, RM 630,000, 5r4b, UP3427137 Business Center, Pelangi Damansara, BU2425sqf, LA20 x 60sqf, Eilenn Chan, Business Centre, SALE, RM 645,000, 2b, 019-312 0812, REN:20510, E(1)1307, BU1492sqf, Vernice Lim, 017-339 8313, UP4664663 REN:21152, E(1)0452/8, UP5375338

PB 115 Cyberjaya, V’Residence, Serviced Ara Damansara, Maisson, Condominium, Residence, SALE, RM 640,000, 3r2b, SALE, RM 698,000, 2r2b, BU932sqf, Andy BU1373sqf, Tina Chong, 012-703 3446, Low, 018-382 9881, E(1)1509, UP5366179 REN:23059, E(1)1439/1, UP5351858

KLCC, 188 Suites, Condominium, SALE, Mont Kiara, Tiffani kiara, Condominium, Selayang, LakePark Residence @ KL North, Service Apartment, SALE, RM 550,000, 3r2b, RM 880,000, Studior1b, BU610sqf, SALE, RM 1,380,000, 3+1r3b, BU1705sqf, BU1125sqf, Issac Liew, 016-717 7878, E(3)1663, UP5344862 Bear Chang, 012-878 8653, VE(1)0346, Ean Goon, 6012-403 2203, REN:02044, UP5396118 E(1)1652, UP5354253

Sentul, The Maple Condominium, Ampang, 3.5-sty Terrace/Link House, Condominium, SALE, RM 1,450,000, SALE, RM 1,860,000, 5+1r5b, BU3500sqf, 3+1r3b, BU1707sqf, KL Chin, 6012-298 LA40x70sqf, Ismadi Ab Jalil, 6017-879 6982 / 6012-291 6982, REN:00696, 9185, REN:08635, E(3)0205, UP5324181 E(3)1315, UP4993880

Kuchai Lama, Seringin Residences, Damansara Heights, Sri Murni, Ara Damansara, Maisson, Condominium, SALE, RM 940,000, 3r3b, BU1385sqf, Andy Low, 018- Condominium, SALE, RM 2,202,120, Condominium, SALE, RM 2,200,000, 382 9881, E(1)1509, UP5359382 3+1r4b, BU3809sqf, Jerry See, 012-611 Nikki Chen, 012-735 5548, REN:05733, 1082, REN:11499, E(1)1605, UP5366611 E(1)1398/3, UP5038988

Mont Kiara, SENI @ Mont Kiara, Condominium, SALE, RM 2,350,000, 4+1r4b, BU2906sqf, Raynaldo Lopez, 012-603 9665, REN:15561, E(3)1504, Ukay Heights, Beverly Heights, Semi- Batu Caves, Prima Sri Gombak, Sri UP5171519 detached House, SALE, RM 2,400,000, Gombak, Shop-Office, SALE, RM 6+1r6b, BU4919sqf, LA3069sqf, KL 3,100,000, 1r3b, BU4900sqf, Nicholas C Chin, 6012-298 6982 / 6012-291 6982, Tan, 6012-388 2877, REN:03101, E(3)0050, REN:00696, E(3)1315, UP4083332 UP5088224

Port Klang, Glenmarie Cove, Bungalow House, SALE, RM 3,650,000, 5+1r6b, BU6100sqf, LA10700sqf, Tina Chong, Seri Kembangan, Bluwater Estate, Seri 012-703 3446, REN:23059, Kajang, Saujana Impian Golf resort, Kembangan, Bungalow House, SALE, RM E(1)1439/1, UP5304942 Bungalow House, SALE, RM 4,200,000, 4,000,000, 5r6b, BU6000sqf, LA8002sqf, 7r7b, BU5000sqf, LA16000sqf, Robin CK Chue, 012-219 7566, REN:07699, Chum, 012-217 1189, REN:08576, E(1)1112, UP4886411 EPM(3)0002, UP4636250

Taman Desa, , Bungalow Sri Hartamas, Galeria Hartamas, Desa Sri House, SALE, RM 5,500,000, 5r4b, Hartamas, Shop, SALE, RM 4,500,000, BU5000sqf, LA6400sqf, Elvie Ho, 012-303 Studior4b, BU5520sqf, Grace Lee, 012-379 3788, REN:22102, E(1)0452/1, UP5214288 1298, REN:03996, E(1)0452/9, UP4555055

Country Heights, country height, Glenmarie, Temasya Niaga, Temasya Bungalow House, SALE, RM 8,200,000, Ampang Hilir, U-Thant, Bungalow House, SALE, RM 50,000,000, 8+1r10b, BU22000sqf, Glenmarie, Commercial Bungalow, 9r10b, BU22500sqf, LA20010sqf, Tony LA30000sqf, Carl Friis, 012-286 5586, REN:01695, E(1)1007, UP5221677 SALE, RM 32,000,000, BU45942sqf, Lee, 6012-378 8212, REN:17619, E(1)1476, LA32600sqf, Victor Lim, 6019-280 2788, UP3055773 REN:09135, E(1)1197, UP5077902

116 117 CLASSIFIED

Sungai Buloh, Bungalow House, SALE, RM 5,600,000, 8+1r8b, BU10000sqf, LA8200sqf, Mohd Willieuddin Lim, Ampang Hilir, Residential Land, SALE, RM 017-621 3933, REN:21895, Kenny Hills, kenny vale @ 44,000,000, BU38000sqf, LA3800sqf, E(3)1227/1, UP5020984 , Bungalow House, SALE, Betty Gill, 012-384 8142, REN:02341, RM 16,500,000, 7+1r8b, BU11075sqf, VE10099, UP5368106 LA11979sqf, Yvone Chong, 6016-322 2186 / 603-7729 9999, E(1)1492, UP1800565

PROPERTY OUTSIDE KLANG VALLEY Kerling, Kerling Converted Industrial Land, Iskandar Puteri (Nusajaya), Impiana Masai, PARC Regency, Apartment, SALE, Tanjung Malim, Industrial Land, SALE, RM Condominium, Iskandar Puteri Nusajaya, RM 300,000, 1+1r2b, BU810sqf, Cat 21,800,000, 20 Abover20b, LA27.8sqa, Condominium, SALE, RM 720,000, 3+1r3b, Tan, 017-751 2919, REN:19419, E(3)1550, Law Yong Sein, 010-226 1608, REN:11753, BU1399sqf, Pendy Soo, 6016-722 0933, UP5336197 E(1)1321/1, UP5158133 REN:07908, E(3)0096, UP5372868

Johor Bahru, Redang Villa, Taman Molek, Johor Bahru, adda height, Bungalow Johor Bahru, Jalan Keruing, Bungalow Johor Bahru, Kempas Utama, Cluster Ponderosa, Semi-detached House, House, SALE, RM 830,000, 4r4b, House, SALE, RM 880,000, 3+2r2b, Homes, SALE, RM 855,110, 5r4b, SALE, RM 1,880,000, 4r5b, LA45x92sqf, LA32x65sqf, Shirley Pang, 017-700 1379, BU1488sqf, LA5769sqf, David Tan, 012-746 BU2628sqf, LA33x75sqf, Ivan Chan, 016- Daphne Thye, 016-776 5980, E(1)1605/1, E(1)1307/4, UP5288737 4206, E00000, UP5282697 810 5451, REN:15636, E(1)1184, UP5024700 UP5369145

Horizon Hills, Horizon Hills, Nusajaya, Bukit Greenlane, Lahat Court, Apartment, SALE, Indah, 2-sty Terrace/Link House, SALE, RM RM 365,000, 3r2b, BU900sqf, Liz Ho, 019- 850,000, 4r4b, BU2000sqf, Daphne Thye, 419 9119, REN:18352, E(3)1518, UP5329438 016-776 5980, E(1)1605/1, UP5391909

Ayer Keroh, SemiD at Taman Vista Kirana, Gapam, Air Keroh, Semi-detached House, Prai, Spacious factory warehouse prai, RENT, RM 2,500, 4r3b, BU3800sqf, Pontian, Benut, Commercial Land, SALE, RM 1,165,000, BU46609sqf, LA46609sqf, Tomato Loh, Butterworth , Factory, RENT, RM 165,000, LA4200sqf, Choo Yu Fong, 012-246 019-750 5088, REN:00425, E(3)0928, UP5072359 BU149000sqf, LA220000sqf, Alan Ng, 3117/012-623 8089, REN:01941, E(3)1318, 012-524 5565, REN:18223, E(3)0256/3, UP4310369 UP5348463

Nilai, Green Beverly Hills - Residensi Lili, Condominium, SALE, RM 330,000, 2+1r2b, BU735sqf, Anna Lau, 6012-866 1994, E(3)0812, UP5381364

qwerty Benut, Commercial Land, SALE, RM 3,267,000, BU130680sqf, LA130680sqf, Tomato Loh, 019-750 5088, REN:00425, E(3)0928, UP5366152

Seremban, 2-sty Terrace/ Link House, SALE, RM 520,000, 4r3b, BU2000sqf, Anna Lau, 6012-866 1994, E(3)0812, UP5383353 Senai, Senai Airport City, Factory, SALE, BU31000sqf, LA43560sqf, Apple Wong, 018-288 9222, REN:12700, E(2)1621, UP5371820

116 117 qwerty Butterworth, Ocean View Residences, Condominium, SALE, RM 425,000, 3r2b, BU938sqf, SH Koay, 011-1095 8731, E(3)0256, UP5389050

Greenlane, Scotland Villa, Condominium, SALE, RM 1,400,000, 4r2b, BU2000sqf, Elaine Ooi, 013-441 1299, E(3)1160, Seremban, Hotal Villa, Kemayan Square, Seremban, Hotel/Resort, SALE, RM 4,500,000, UP5162410 BU10000sqf, Leslie Low, 6016-206 8088 / 6012-226 1006, REA:E2406, E (3) 0235, UP5376279

Kota Kinabalu, Bung alow House, SALE, RM 5,300,000, 6r5b, BU8100sqf, LA17424sqf, SHAH ALAM Alan Richard, 019-880 3000, REN:19118, Shah Alam, Studio Fourteen, E(1)1283/1, UP5375212 Condominium, RENT, RM 899, 1r1b, BU450sqf, Kent Tan, 012-637 8528, REN:19050, E(1)1635, UP5171514

PUCHONG Kota Kemuning, Kemuning Bayu, 2-sty Setia Alam, shah alam, Semi-detached Shah Alam, Sec 8 Shah Alam, Semi- Terrace/Link House, SALE, RM 898,000, House, SALE, RM 1,750,000, 4+1r4b, detached House, SALE, RM 850,000, 5r3b, 4r4b, LA22 x 75sqf, Joanne Chan, BU3500sqf, LA6000sqf, Jasper Wong, BU3000sqf, LA50 x 80sqf, CK Chue, 012- 6012-576 8267, REN:05609, E(1)1321/5, 012-396 2379, REN:00117, E(1)1286/3, 219 7566, REN:07699, E(1)1112, UP5347204 UP5337228 UP3312008

Puchong, Bandar Bukit Puchong, Puchong, Taman Putra Prima, Putra Prima, Puchong, 2-sty Terrace/Link House, Puchong, 2-sty Terrace/Link House, SALE, RM 535,000, 4r3b, BU1600sqf, SALE, RM 645,000, 4r3b, BU2100sqf, LA18 x 65sqf, Eilenn Chan, 019-312 0812, LA22 X 75sqf, Eilenn Chan, 019-312 0812, REN:20510, E(1)1307, UP4835967 REN:20510, E(1)1307, UP5202533

CHERAS Puchong, The Wharf Residence, Taman Puchong, puchong, 3-sty Terrace/Link House, SALE, RM 950,000, 6r3b, BU2234sqf, LA1350sqf, Tasik Prima, Condominium, RENT, RM yapzenith, 6012-772 3396, REA:2153, E(3)1393, UP5381994 1,900, 3+1r2b, BU1230sqf, Jinz Yoong, 016-333 5334, REN:16093, E00000, UP5304667

Cheras, , 2-sty Terrace/Link House, SALE, RM 850,000, 4r3b, BU1400sqf, LA22x70sqf, Evon Choo, 012-268 2772 / Cheras, Suasana Lumayan, Bandar Tun 019-217 3361, REN:03508, Cheras, 2-sty Terrace/Link House, SALE, Razak, Condominium, SALE, RM 530,000, E(3)0164, UP5318859 RM 880,000, 4r4b, BU1650sqf, LA1650sqf, 4r2b, BU1364sqf, Fiqri Hazim Rozmi, 013- Irene Kuok, 017-248 6825, E(1)1634, 229 0652, E(1)1545/4, UP4215667 UP5307785

Cheras, , 2-sty Terrace/Link House, SALE, RM 970,000, 6+1r4b, BU2200sqf, LA22 x75sqf, Jenny tcn, 6012-266 6705, REN:11182, Cheras, 3 Storey Corner, 3-sty Terrace/ Cheras, 3-sty Terrace/Link House, SALE, E(3)0256, UP5372221 Link House, SALE, RM 1,430,009, 6r4b, RM 1,277,000, 6r4b, BU3000sqf, Irene BU2800sqf, LA40 x 70sqf, Irene Kuok, Kuok, 017-248 6825, E(1)1634, UP5085179 017-248 6825, E(1)1634, UP5077857

118 119 CLASSIFIED

Balakong, Cheras, Factory, SALE, RM 34,500,000, BU15601, LA13761, Eric Goh, 6017-368 8153, REN:07249, E(1)1583, UP5208642 Cheras, terrace, 3-sty Terrace/Link House, Cheras, Bungalow House, SALE, RM SALE, RM 1,650,000, 5r5b, BU3700sqf, 4,100,000, 7r7b, BU5670sqf, LA5792sqf, LA3700sqf, Irene Kuok, 017-248 6825, Irene Kuok, 017-248 6825, E(1)1634, E(1)1634, UP5283346 UP5135835

PETALING JAYA

Cheras, semi d, Semi-detached House, SALE, RM 4,455,000, 7r7b, BU6900sqf, Irene Kuok, 017-248 6825, E(1)1634, UP5235589

Subang Jaya, Paisley, Tropicana Metropark, Condominium, SALE, RM 724,000, 2+1r2b, BU918sqf, Korie Tan, 012-257 1339, E(3)1663, UP5389474

Bandar Sunway, Nadayu28, Condominium, SALE, RM 950,000, 2r2b, BU990sqf, Irene Teoh, 012 209 1213 / 012-906 7065, E(1)1501, USJ, USJ 3D, Bungalow House, SALE, RM 3,000,000, 6r7b, BU7000sqf, LA6000sqf, Cindy Loo, UP5357679 012-215 2870, E(3)0060, UP5288759

Petaling Jaya, Vista Paramount Residence, 2.5-sty Terrace/Link House, SALE, RM 2,150,000, 4r3b, Bandar Kinrara, bandar kinrara 9 butik 3 puchong bk9, Bungalow House, SALE, 6r6b, BU2985sqf, LA1894sqf, SC Lim, 010-591 0999, PEA:0956, E(1)1501, UP5382788 BU4000sqf, LA12707sqf, Pierre Goh, 012-626 3883, E(1)1535, UP5230698

BANGSAR Bandar Utama, Bandar Utama BU10, Petaling Jaya, PJ Section 3, Bungalow 2.5-sty Terrace/Link House, SALE, RM Tropicana, Casa Tropicana, Petaling House, SALE, RM 1,900,000, 7r3b, 1,650,000, 5r4b, BU2800sqf, LA22x75sqf, Jaya, Condominium, SALE, RM 680,000, BU5808sqf, LA5540sqf, Elvie Ho, 012-303 Grace Lee, 012-379 1298, REN:03996, 2+2r3b, BU1217sqf, Ice Phoon, 6013-206 3788, REN:22102, E(1)0452/1, UP5210720 E(1)0452/9, UP5344778 7633, E(3)1682, UP2360883

Bangsar South, KL GATEWAY, MENARA SUEZCAP, BANGSAR SOUTH, Office, SALE, RM 1,530,000, BU1700sqf, Bangsar South, KL Gateway Residences, Jim Tan, 019-212 8212, Bangsar South, KL GATEWAY, MENARA Pantai Dalam/Kerinchi, Condominium, REN:19757, E(1)1509, SUEZCAP, BANGSAR SOUTH, Office, RENT, RM 2,300, 1+1r1b, BU700sqf, Jim UP5364668 RENT, RM 6,800, BU1200sqf, Jim Tan, 019- Tan, 019-212 8212, REN:19757, E(1)1509, 212 8212, REN:19757, E(1)1509, UP5313205 UP5217388

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