June 2015 | ISSUE 124 Voted No.1 Property Magazine 2010/11/12/13/14 by A+M Magazine Discover Buy Rent Invest COVER STORY R&F PRINCESS COVE Building cities & creating communities for the future INSIDE A VISION OF HOPE Light at the end of the tunnel for Gen-Y RESEARCH DATA Affordable living in Klang Valley KL Q1 2015: Key findings unveiled THE SECONDARY OPTION Sub-sales market: An alternative AND MORE MCI (P) 139/08/2013 SPECIAL FOCUS KDN PP 13368/04/2 013(032224) ISSN 1823-8726 MISSION 2015 Finding affordability and an ideal lifestyle 9 771823 872006 06 Issue 124 | June 2015 | RM8.50, S$8.00 R&F Princess Cove by Guangzhou R&F Properties Editor Roshan Kaur Sandhu CEO’S FOREWORD Writers Ong Xin Ying Head Of Creatives Angeline Lim Graphic Designers Jason Kwong Wing Wong Campaign Specialist Nurulhidayah Abd Rahman Magazine Coordinator Nur Alia Ahamd Tamezi General Manager, Malaysia Loh-Lim Shen Yi Head Of Developer Sales How Yong Kien Soon / Jenn Adams Head Of Media Sales Jenn Adams Head Of iProperty TV Corey Weekes Agent Sales Manager Leon Kong A Perspective on Affordability Managing Director and Chief Executive Officer and That Ideal Lifestyle Georg Chmiel Affordability and the rising cost of living continue to remain major concerns Chief Financial Officer not just in Malaysia but also around the world. As such, we thought that Robert Goss it was only fitting that our special focus this month or rather the mid-year Chief Information Officer Harmit Singh mission for 2015 be about affordability and achieving that ideal lifestyle Head of Consumer Marketing without damaging the bank account too much. Read all about it on pages & Brand Management 50 and 51. Jonathan Adams A quick review of the first half of the year showed positive results which continue to motivate us. Furthermore, innovation has and will continue to iProperty.com Malaysia Sdn Bhd (600850-K) be the driving force behind all that we do. On that note, we are excited to Suite 11.01, Level 11 Menara IGB, announce the pre-launch of our exciting latest innovative product called Mid Valley City, Lingkaran Syed Putra, iProperty Goggles. 59200 Kuala Lumpur, Malaysia Phone: (603) 2264 6888 Fax: (603) 2264 6900 iProperty Goggles is set to provide property buyers and investors an Sales enquiries: [email protected] impressive immersive experience as well as offer developers a new platform Editorial matters: [email protected] with which they can showcase their latest property developments in the General enquiries: [email protected] most interactive way. It will paint a visually-rich and appealing picture of the Subscription: [email protected] property development for sale that both local and international buyers can iProperty.com Malaysia Sdn Bhd (Johor) immerse themselves in without having to physically be at the show unit. G-18, Jalan Seri Austin 1/1, Taman Seri Austin, As such, do stay tuned to learn more about this latest innovative product as 81100 Johor Bahru. we believe in harnessing the power of innovation with the intention of making iProperty.com Malaysia Sdn Bhd (Penang) the search for your dream home that much simpler and more interesting. Bay Avenue D-25-3, Lorong Bayan Indah 2 Additionally, this month we are excited and extremely honoured to Bayan Lepas, 11900 Penang recognise real estate professionals via our very first iProperty.com Agents Advertising Awards 2015. Who will be the crËme de la crËme of the real iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd, Suite 11.01, Level 11 Menara IGB, Mid Valley City, Lingkaran Syed estate industry? The winners will be announced and celebrated on 16th Putra, 59200 Kuala Lumpur, Malaysia. June 2015, so do read all about it in our next issue. 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 The best is coming soon! any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall Enjoy the read! 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. Printer Percetakan Osacar Sdn Bhd Lot 37659, No. 11, Jalan 4/37A Taman Bukit Maluri Industrial Area Kepong, 52100 Kuala Lumpur Malaysia. Georg Chmiel Distributor MPH Distributors Sdn Bhd Managing Director & CEO The iProperty Group CONTENTS June 2015 4 CEO’S FOREWORD 25 BUYING VERSUS RENTING 10 HAPPENINGS 26 WHAT IS ON YOUR PROPERTY WISH LIST? 14 NEW PRODUCT The new (virtual) reality of property viewing Cover Story 28 R&F PRINCESS COVE - PHASE 1 Consumer Awaremess Building cities & creating communities for the future 16 CONFESSIONS OF A ROOKIE PROPERTY BUYER (PART 1) Featured Property 17 CONFESSIONS OF A ROOKIE PROPERTY 32 DENAI SUTERA BUYER (PART 2) A charming lifestyle in an affluent enclave 36 NAIM LAND SDN BHD 18 WHAT IS IN A PROPERTY BROCHURE? Enhancing Sarawak’s profile 20 I WANT BUT DO I NEED? In Conversation With 21 ARE YOU READY TO BUY A HOME? 38 I&P GROUP SDN BERHAD The ‘can do it’ man 22 THE HOME-BUYING PROCESS 23 CALCULATING YOUR DISPOSABLE INCOME Research Data 42 DTZ PROPERTY TIMES Kuala Lumpur Q1 2015 24 WEIGHING YOUR WALLET 25 28 36 42 6 | CONTENTS June 2015 Special Focus Singapore 50 MISSION 2015: FINDING AFFORDABILITY 76 HAPPENINGS AND AN IDEAL LIFESTYLE 78 DODGING THE PITFALLS OF OVERSEAS PROPERTY INVESTMENT In Conversation With 52 SERI ALAM PROPERTIES SDN BHD 80 JURONG EAST AND NUSAJAYA Where knowledge lives Agent’s Views Experts’ Views 82 TOTAL REALTY SDN BHD 54 GENUINE AND SERIOUS TROUBLES The total package 56 A VISION OF HOPE Digital Living 60 THE SECONDARY OPTION 84 THE ESSENTIAL TRAITS OF A QUALITY PROPERTY 64 ARE THERE STILL AFFORDABLE HOMES FOR JOHOREANS? 86 KHIND POWER MIXER SM350P: ENJOY EVERY MOMENT OF BAKING 66 HOW YOU CAN MAKE EXTRAORDINARY PROFITS IN AN UNCERTAIN MARKET Regulars 88 THE NATIONAL HOUSE BUYERS ASSOCIATION House buyers denied rights by Housing Controller Research Data 68 AFFORDABLE LIVING WITHIN KLANG VALLEY 72 THE DEMAND AND SUPPLY OF AFFORDABLE Classifieds HOUSING 98 AGENCY DIRECTORY 100 CLASSIFIEDS 112 SUBSCRIPTION 50 54 76 8 | iproperty_BDO N15.pdf 1 18/5/2015 6:15:30 PM C M Y CM MY CY CMY K HAPPENINGS Seri Alam Properties Launches Affordable Houses in Bandar Seri Alam In response to the Johor government’s aspiration to provide more affordable homes to the masses especially first-time homeowners, Seri Alam Properties Sdn Bhd launched its affordable housing programme where 293 units of completed properties have been released for sale. Priority will be given to first-time homebuyers. Yang Berhormat Hajah Normala Abdul Samad was present to officially launch the scheme and helped to select some of the owners during the balloting process. homes are already completed. These properties Having recognised the rising prices of houses in are sold at below replacement cost price and this Johor particularly in urban and suburban areas as scheme will not be repeated. a major challenge to homeownership, the company has taken the initiative as part of its Corporate Buyers have the option to choose either the 851- Social Responsibility to assist the government and sq ft Pesona apartment units which are priced the affected people through its affordable housing from RM155,000 upwards or the larger 905-sq ft programme. Executive apartment units which have a price tag of RM173,000 and above. Under this programme, completed properties are made available at an attractive price of RM155,000 Additionally, Vista Seri Alam offers several limited and above for a freehold 3-room apartment. Buyers Townhouse units which have sizeable built-up areas can move into their home immediately as these at an attractive price of RM195,000 and above each. A Life in the City, Up Close and Personal with Nature also sports a facilities deck equipped with as many as 32 facilities. It was conceived based on a ‘third space’ principle which is defined as a space where most memorable experiences occur. As such, the entire deck is crafted as a vast 3-acre recreational venue decorated with water elements such as refreshing wetlands, marshland, woodland, cascading waterfalls and elegant water terraces which are complemented by blankets of greenery full of handpicked plant and bush species. Land & General Berhad’s first new project for 2015 is Astoria Ampang, a city development which consists of This will be further beautified via elevated walkways, four 43-storey towers of serviced apartments which fitness pods, an observatory, jogging and cycling will together serve as a majestic landmark in the area. paths, resort-inspired pools, yoga decks, a Zen garden, Each tower houses 253 beautiful homes which have an amphitheatre and a truly unique hammock garden. built-up sizes ranging from 560 sq ft to 1,550 sq ft and multiple configurations which comprise one to Scheduled to be completed four years from its launch four bedrooms. date, Astoria is expected to be ready in 2019 with units priced at RM494,000 or RM880 psf and above.