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Northbound Possibilities

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Northbound Possibilities Headline Northbound possibilities MediaTitle The Sun Date 21 Mar 2014 Language English Circulation 300,512 Readership 650,000 Section Property Plus Color Full Color Page No 30 ArticleSize 772 cm² AdValue RM 13,729 PR Value RM 41,187 Northbound possibilities > Exploring the property scene in Kedah THE property bigger cities but the good point about scene in cities Kedah property is that when the economy like Kuala slows down, prices in Kedah are not as Lumpur, affected as in the bigger towns. However, Selangor, Penang and likewise, when the economy is up, the Johor is for the most part robust, fuelled by demand that comes prices also don't fluctuate that much. naturally with being in So it is a very stable, calm and reliable cosmopolitan parts of market." A reasonable stance, according to the country. For those Cheng, he thinks that Kedah is a peaceful who enjoy the daily rat place, ideal for one looking to enjoy a quiet race and fast­paced and contented lifestyle. grind of city life, a metropolis is the place PLUS POINTS to live and make a • Lower cost of living­ living in. It is also in • Less hectic due to slower paced lifestyle these principal cities • Hardly any traffic jams where economic • Less pollution activity is buoyant, • Cheaper land and real estate influencing a • Government launched the "Rumah Mampu continuous buzz in the Milik" affordable housing programme property market • Kedah is being developed under the Ninth While active and Malaysia Plan analytical property Property investors hoping to turn around investors prefer their purchases quickly and make profit fast investing in urban ' may not find the Kedah property market areas to reap the best exciting enough. "Especially those who and fastest profits, we intend to flip their purchases or make huge look at the real estate profits," says Cheng. He adds that most scene in Kedah, a buyers purchase homes in Kedah because more quaint, quiet they have some connection to the state. and charming part "Many city folk are actually from smaller of Malaysia. towns. We find that those who have Kedah Also known as 'roots' (and from other small towns), will Darul Aman, Kedah normally want to retire in their hometowns. consists of mainland and A lot of people purchase property in Kedah to Langkawi, along with an archipelago of retire in or for their aged parents, although around 100 smaller islands. Kedah borders some buy as holiday homes, second homes, the states of Perlis in the north, Perak in and some, as very long the south and Penang, to its southwest term investments." Alor Star is the capital of Kedah. The state UP AND COMING was once known for Areas in Kedah that are its paddy fields and rice exports. Today the government in its Ninth up and mming apart Malaysia Plan, has made preparations from the state capital for Kedah to prosper increasingly as an Alor Star are Langkawi, industrial­based zone, under its Northern Pokok Sena, Kuala Corridor Economic Kedah, Jitra, Changlun, Bukit Kayu Hitam and Region blueprint Sintok. "Since the new KEDAH IN government took over, there have been a lot GENERAL more investment REHDAKedah/ Perlis chairman opportunities. There are five­star resorts and Datuk Rick Cheng luxury properties and (pi*) said: "Property hotels like Four Seasons, prices are surely and definitely going up The Datai, St Regis and although, not Shangri­La who have drastically rising. Overall, Kedah is a good plans to come in. On the place to purchase property and live in it other hand, there are The market is not as vibrant as in the also budget and Headline Northbound possibilities MediaTitle The Sun Date 21 Mar 2014 Language English Circulation 300,512 Readership 650,000 Section Property Plus Color Full Color Page No 30 ArticleSize 772 cm² AdValue RM 13,729 PR Value RM 41,187 economy hotels inline with the government's plan. With •"Swapping* of gazetted Malay Reserve and motels. Generally development of land on the rise, businesses land with Freehold land is not allowed there is more activity as are sprouting and economic activity is . for residential and commercial tourism is getting a hustling All this leave a positive effect on the boost from the state and properties. For industrial and In property market in Kedah. some cases certain commercial tourism ministries,'' THE MEAT AND POTATOES projects like resorts (in view of shares Cheng. While boosting the tourism industry), Bukit Kayu Hitam, Cheng says there are not many speculators or the state government is willing to Kulim and Sungai investors in Kedah, thus, it is quite unlikely consider swapping, provided the Petani have always for a property bubble to form, let alone burst bumi quota is raised to 50% (terms been favoured towns, "Alor Star property prices are relatively the and conditions apply). new developments highest in the state, being the capital but "Transferring' of property under and highways that Langkawi prices are shooting up, higher than bumi quota to an Open Lot is not link the smaller any other district in Kedah." Property prices towns in the outskirts allowed. Then again, the swapping on Langkawi island cannot be compared to concept MAY be applied and have broadened those on the mainland as transportation costs accepted, depending on a case to case the Kedah "developed" to ferry the materials across need to be basis," Cheng informs. The state boundaries. considered. "Overall, Langkawi is a vibrant and tourist's market You will need to add in government stands by the 30% quota With the government of bumi lots for ALL developments widely promoting Langkawi at least 20% to 30% extra for transportation that do not involve swapping. as a tourist destination, not for Langkawi properties. Sungai Petani is still "If you look at commercial and only are new hotels being built, a hot favourite. Prices are reasonable with a substantial amount of freehold land available. industrial property, most of our Malay there is the Langkawi friends prefer not to invest in these Alor Star remains expensive due to low Convention Centre coming up property types. So, there are a lot of unsold soon. New developments like supply and huge demand. Generally, the bumi lots which other races cannot this have caused reason for the property market in Kedah is very reasonable as the cost of living is still very affordable." purchase due to the status of the property. construction ofhighrise and The developers have to bear the holding serviced apartments, a new Though affordable, Cheng says about 90% to 95% of land in Alor Star is gazetted as costs at the end of the day." * residential property trend on the Another problem which developers island Other areas where Malay Reserve Land. This leaves only 5% to face in Kedah is the length of time the state residential property is in want 10% as Freehold. "In Langkawi, about 80% of land is takes to approve a project,"All these affect are Sintok, Changlun and Bukit supply and demand, and in the long run Kayu Hitam due to the gazetted as Malay Reserve Land; and the establishment of UN1MAP will cause property prices to increase." balance 20% is very expensive, selling Follow our column next week to learn (Universiti Malaysia Perlis) between RM30 and RM60 psf. Land on the about some real estate steals and discover and UUM (Universiti Utara outskirts like in Gurun, Pokok Sena and Kuala elusive opportunities in Kedah. Malaysia). There is also a logistics Kedah is much cheaper. Then again, freehold hub which the government has in the land is difficult to attain throughout Kedah." pipeline, close to the border. Further south in The REHDA Perlis/Kedah chairman adds Kulim, the industrial scene is flourishing that REHD A has been in dialogue with the state government to find a solution to solve this 'problem'. Headline Northbound possibilities MediaTitle The Sun Date 21 Mar 2014 Language English Circulation 300,512 Readership 650,000 Section Property Plus Color Full Color Page No 30 ArticleSize 772 cm² AdValue RM 13,729 PR Value RM 41,187 ► Swapping ­ Bartering between land Interesting places and things to do that holds the Malay Reserve title and Freehold title. • If history and archeology is your cup of tea, learn about the ► Transferring ­ Changing the status of oldest Sultanate in Southeast Asia when you visit Alof Star a pteceof property under bumi quota and the Bujang Valley. to an Open Lot. ' • Quaint \#8j^gfis and small towns are a must to stop by: Bukit Kay^Hltam, Kuah, Kodiang, Kuala Nerang, Kuala Kedah, Tarijung Dawai, Merbok, Sungai Petani aid Baling. Kedah Transformation Lab * The Kedah state government aims to have 40,000 • Island Kipping, snorkeling and scuba diving operators are affordable and low­cost homes constructed aplenty and often eager to take you on a tour to show you throughput the 12 administrative districts in the the many islands of Langkawi and its Geopark. ­ state by tire year 2018. • Hike up Gunung Jerai and stop for a dip at the waterfalls. * The homes will come under the PRIMA project . •Tourist attractions, historical landmarks and places of and from private developers. These will include interests include the Paddy Museum, the Seven Wells, single and double­storey terrace houses, as well as Mahsuri's Mausoleum and others. single and double­storey semi­detached homes. * They will be tagged between RM100,000and • Known as the land of myths and legends, don't forget to RM400.000. Application is open to all Malaysians persuade the locals tQsJJ&re their tales. with a monthly household income of between • Shoooina fonaoWSiHfeand areat buys isa must: RM2,500 and RM7,500.
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