Managing Editor Roshan Kaur Sandhu Writers Reena Kaur Bhatt Mira Soyza

Editorial Coordinators Nur Alia Ahamd Tamezi Intumathy Nadarajah

Head of Creatives Angeline Lim Senior Graphic Designers Wing Wong Jason Kwong Junior Graphic Designer Rechean Soong

CEO REA Group - Asia Henry Ruiz CEO iProperty.com Malaysia 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 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 Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, 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.

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Message from our CEO

Just a month ago, I was honored to be at the iProperty.com Agent Advertising Awards (AAA) 2017, a black-tie event that celebrates excellence, leadership and innovation of property agents in Malaysia. It was also my first time judging at the awards, and if the quality of entries received were any indication, the industry has come a long way.

As a long-time partner to thousands of property agents, we value the importance of agents and the role they play in connecting people with their dream homes. The iProperty.com AAA 2017 is our way of celebrating the amazing work they do, day in and day out and saying thank you for being with us, every step of the way throughout our own property journey. In addition to the property agents, the other big winner that evening was innovation.

Innovation, I’m often reminded, is evolution. You can delay it, but you can’t stop it.

Innovation is something we’re familiar with at iProperty.com. It is part of our DNA. It drives us forward and keeps us connected to you. As Malaysia’s No.1 digital company specializing in property, we are able to provide developers, HARESH KHOOBCHANDANI buyers and agents in Malaysia, a platform, for a personalized property CEO - iProperty.com experience. We serve more than 1.4 million buyers a month and in July 2017, Malaysia & Singapore we welcomed more than 11 million visitors to our portal – that’s the highest number recorded in the history of the company.

Our goal is to continue to break new ground, develop innovative solutions and provide a truly unique experience across all our touchpoints, anytime, all the time. Regardless of where you are in your property journey, we want to make your property decisions simple, efficient and stress-free.

We have come a long way too.

Soon, you’ll be greeted by a new product that offers a fresh responsive design with exciting display solutions that move seamlessly from laptop to tablet and to smart phone. More important than what devices you are using, is the experience you get using them. The next couple of weeks promises to be exciting for us and we can’t wait to share it with you. I invite you to join us, as we embark on this journey forward.

Together, we will change the way Malaysia (and Asia) experience property.

4 PB Managing Editor’s note Contents Whenever statistics are released on housing transactions, we receive comments from industry players/ stakeholders calling for a boost in property supply and an improved housing policy to give first-time buyers a better chance. And they are right to call for such initiatives: the lack of affordable property is one of the biggest challenges for would-be homebuyers in Malaysia. But it’s not the only 38 obstacle. I personally believe that there is an urgent need to streamline the affordable housing development programmes in Malaysia under one roof as recently announced by the SPECIAL FOCUS – MRT 1: government. 20 Pushing urban growth boundaries Touching on statistics, under the 38 ONE COCHRANE RESIDENCES: A class act right on the tracks iPropertyiQ.com section, we feature the 2016 industrial property sub-sector 42 #youshouldbuyhere – Hotspots performance in Malaysia and Selangor along MRT Line 1 5 MESSAGE FROM OUR CEO by iPropertyiQ. 48 All hail RAIL - MRT to amplify 6 What does going Green even MANAGING EDITOR’S NOTE Klang Valley’s growth mean to an average consumer in this 8 HAPPENINGS country? The sense of awareness of Green Building especially is low when RESEARCH DATA purchasing property in Malaysia. Ir Jack EVENTS Chan provides an invaluable insight on 52 Kajang: Where railway lines go, 14 IQI Global Conference: home buyers follow this issue on page 82. Embracing the digital evolution Under our Special Focus section, check out the hotspots in the Klang 16 Great bargains under one roof Valley as Khalil Adis explores on how POINTS OF INTEREST 18 BLT team takes on Property the MRT transportation can help Convention 2017, Penang edition 56 Penang’s present and future in a improve a city’s performance and snapshot property growth. 59 The law of intestacy: Till death do Home buyers who are looking for COVER STORY us apart? good housing deals should not miss 20 CONTINEW: A unique and iconic some of our exciting expos lined up this development in Kuala Lumpur year. Please lock in these dates for the RESEARCH DATA iProperty Home & Investment Fair -- 62 The effect of inflation on housing 26 September - 1 October, AEON Bukit prices Indah, JB and from the 8 - 22 October iPROPERTYiQ.COM - Sunway Carnival Mall, Penang. 23 Industrial property: Market watch

Enjoy the read and till next month! BOOK EXCERPT 66 Make big money via land - MARKET WATCH Land feasibility study framework 28 The rise in eCommerce drives (part 1) demand for industrial real estate

POINTS OF INTEREST EXPERT’S VIEWS 70 7 Strategies to leverage on your 32 Help, I have a difficult neighbour! property business

72 Book right – Right from the start Roshan Kaur Sandhu 74 5 Reasons to consider property auctions Contents

AGENT’S ADVICE 99 Buying out of the box: Affordable opportunities abound beyond the city

AGENT’S VIEWS 100 Polygon Properties Sdn Bhd: Building towards a global presence

102 SUPERSTAR AGENTS

REGULARS 104 HOUSE BUYERS’ ASSOCIATION HBA: Relaxing lending criteria is not the solution to address access to affordable housing

108 MASTER PAW SANDY Can Feng Shui improve your 76 finances and wealth?

CONSUMER AWARENESS 110 The pieces to skimp and spulrge on in your living room RESEARCH DATA INTERNATIONAL SECTION 76 Five Asian countries rank high in 86 INTERNATIONAL NEWS 112 How to style a kid’s room without cross-border real estate investment it looking child-like Happenings 80 Pricing for Hong Kong skyscrapers 114 12 Simple tricks to make a small 88 SINGAPORE NEWS is highest in the world living room feel big Happenings 117 Out of the box: Wall art that’s not a 92 INTERNATIONAL FEATURES framed picture POINTS OF INTEREST From broke student to brokering 82 Valuing green property – alternative property deals Would you buy one? 119 95 INTERNATIONAL BRIEFS CLASSIFIEDS Why your HDB is not going to make you any money 128 SUBSCRIPTION

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HAPPENINGS

Terreal opens brand new factory in Kluang-3

In their effort to continuously million was spent to build the 2700 Kluang 3 are from Asia (purchased improve their brand’s offering and m2 plant and these costs include from either Malaysian or Chinese to promote their growing success, land and administrative fees, the supplier). Terreal Malaysia opened its second building itself and machineries. The The new plant completes its range factory in Kluang-3, Johor, recently to acquisition will also bring production of tiles for the Asian market, and continue the production of its mineral close to their main factory in Kluang. now with the internalized production tile. The opening ceremony that took And since the production volume and the increase in production place at the new site last June saw the and process of mineral tiles are capability, the Kluang-3 plant is attendance of some of their suppliers, distinctively different from the expected to release 1.8 million pieces contractors, customers as well as production of terracotta – which of high end mineral tiles each year. several of Kluang town officials. involves the process of cooking (in In a long run, the new factory is Construction of the plant a kiln) – a big plant is not required. expected to be able to adapt itself commenced on 1st August 2016 and Terreal also noted that 99% of to follow the market trend closely it is expected to reach full efficiency the machineries in Kluang 1 come and meet the expectation of their at the end of 2017. A total of RM 11 from Europe, while 99% of those in customers.

8 PB

HAPPENINGS

for the homes from small families and empty-nesters aspiring to have a better living environment with trusted security.” Kingsville boasts pocket gardens and streetscapes inspired by the Victorian era. Residents will be greeted by four distinctive pillars and tall juniper trees upon entering from Kings Avenue while the pocket gardens will feature a croquet grass playing-court, romantic gazebos, arches and beds of flowers to blend with the project’s theme. The bungalows in Kingsville feature high ceilings, practical layouts without stairs and generous land sizes. All S P Setia’s ‘Kingsville’ in Setia Ecohill debuts in style homes will be pre-installed with solar heating and rainwater harvesting S P Setia’s regal collection aptly environment coupled with easy access systems. The single-storey show unit is named Kingsville – the first ever into the township via the LEKAS- now currently under construction and collection of single-storey and EcoHill Link. will be open for viewing by the end of 11/2-storey bungalows in Setia EcoHill The English-inspired architecture 2017. Phase 2 of Kingsville is likely to be had a successful launch recently. homes at Kingsville exude a modern launched at the same time. Attracting buyers from neighbouring take of colonial-style residence, with Since Setia EcoHill’s inception areas seeking single-storey homes, the an open space concept for the layout in 2013, more than 2,000 homes Kingsville collection certainly made design. SM Koh, General Manager of have been handed over to buyers, an outstanding impression offering Setia EcoHill shared on the day of the with another 2,500 units under ample lush greenery in the surrounding launch, “We received good demand construction.

M101 unveils exclusive Skywheel Design Suites

M101 Holdings Sdn Bhd recently The units come in three layouts — tourism’ initiative, the company has launched their limited series Design 2-bedroom (1,018 sq ft), 1+1 bedroom been introducing M101 Skywheel to Suites, which are housed at the very (909 sq ft) and 1+1 bedroom (879 the rest of Asia such as Hong Kong, top of the iconic M101 Skywheel sq ft). Owners of the Design Suites Taiwan, Indonesia, Singapore, China, development. Exclusively designed will enjoy facilities such as an infinity Japan, Korea, Philippines, Brunei, Sri by Studio F. A. Porsche, the luxurious pool, gym and sauna amongst Kuala Lanka, India and Bangladesh. service residences encapsulate the Lumpur skyscrapers on the 78th floor. essence of the studio’s signature style Nazri Aziz said, “While other of elegance, functionality and purism. developers are looking at bread and The launch was officiated by Dato’ butter products, M101 has taken a Seri Mohamed Nazri Aziz, Minister of bold innovative step to champion Tourism and Culture Malaysia. property tourism. And by partnering The Design Suites will offer an with international brands such as exquisite view of Kuala Lumpur city’s Studio F. A. Porsche and Planet skyline at 300 meters above ground Hollywood, M101 not only excites the and will be fully furnished; equipped property scene, but also the local with selected visuals, custom furniture economy.” and exclusive products. In line with M101’s ‘property

10 PB

HAPPENINGS

Fajarbaru launches Rica Residence @ Sentul, KL

Fajarbaru Builder Group Berhad Residence @ Sentul is just 150m away recently launched its maiden residential from the KVMRT2 project linking property project – Rica Residence Sungai Buloh and Cyberjaya. Residents @ Sentul, Kuala Lumpur. The launch will be able to commute easily to major was graced by Y.B. Datuk Seri Utama destinations including KLCC, TRX, Tengku Adnan bin Tengku Mansor, Bandar Malaysia, Cyberjaya. Minister of the Federal Territories. Speaking at the launching ceremony, Located in Sentul, a neighbourhood Fajarbaru Builder Group Berhad that has increasingly gained appeal Executive Director Eric Kuan Khian amongst city dwellers and expatriates, Leng said, “We believe that public the project which bears a GDV of RM transportation is the de facto mode of 280 million will feature 473 serviced transportation moving forwards, thus residences within a 39-storey tower. the completion of MRT2 by mid-2022 With prices starting from RM600 per will provide much convenience to our sq ft, built-up spaces range between purchasers. 657 sq ft to 1,238 sq ft. The unit types The project’s other selling point is include single studios to 2-bedroom its strategic location – it is located just units as well as dual entry homes, 5km away from KLCC and residents which makes it perfect for own stay will be able to commute easily to prime and investment purposes. areas such as KL Sentral, Hartamas, With its tag line, “Seamless Segambut and Mont Kiara via the Duta connectivity from City Centre”, Rica Link and DUKE Highway.

Cenang Resort and Wanda Hotels & Resorts ink strategic partnership for Wanda Realm Resort Langkawi

areas of Langkawi along the pristine acres of prime freehold land fronting beach of Pantai Cenang, the mixed the Andaman Sea. development has a projected total “Tourism has emerged as a gross development value of RM1.55 powerful vehicle for economic billion. transformation, job creation Through the strategic partnership, and infrastructure development both Cenang Resort and Wanda in Langkawi. A main tourist will spearhead new directions in destination and the third largest resort management given the latter’s island in Malaysia, Langkawi has extensive experience in providing emerged as an attractive option high-quality, international standard for property development and hotel management; which will further property investment. Given this Cenang Resort Sdn Bhd recently boost the attractiveness of this mixed positive outlook, we believe that announced its strategic partnership development, comprising a hotel, this development will further spur with Wanda Hotels & Resorts, a two 40-storey residential towers and socio-economic development of the world-renowned hotel management commercial components tailored for local communities with the creation company that will manage Wanda the tourism and services industry. of more employment as well as Realm Resort Langkawi within the Earmarked to be an iconic addition entrepreneurial opportunities,” said resort-themed development of to the Langkawi skyline upon Yang Amat Berhormat Dato’ Seri Tropicana Cenang. Strategically completion by the end of 2023, DiRaja Ahmad Bashah Md Hanipah, located in one of the most vibrant Tropicana Cenang is located on 5.28 Menteri Besar of Kedah.

12 PB Celebrating Excellence in Property Developments

Judging & Voting are 15 Highly Acclaimed Independently Industry Recognition Award Categories & Audited Augmented with 1 People’s Choice Media Exposure Award Category

Get ready to vote for your favorite property developers & stand a chance to win exciting prizes!

Voting starts in October! IQI GLOBAL CONFERENCE: Embracing the digital evolution IQI takes on the topic of digital evolution at the recent Global Conference in an effort to educate and inspire their agents to embrace impending changes in the property industry to remain relevant and competitive.

- MIRA SOYZA

1

Loud cheers, grinning faces and Penang, Johor and Melaka as well highly charged speeches perfectly as their international offices, such as describe the IQI Global Conferences Vietnam and the Philippines filled up 2017 that took place on 25th July at the grand ballroom. The cheers and Connexion@Nexus in Bangsar South. chants grew louder as the emcee took The conference aimed to educate the stage to greet the enthusiastic property agents on the ways digital crowd. Guests were then entertained technology, social media and internet by a singing performance by IQI’s very could help them reach their goals and own songbirds, who serenaded them expand their business and network. with an original composition called, Energy was high as 500 honourable ‘Seasons of Love’. This was followed by guests from IQI offices from around a dance performance by some of IQIs the country, namely Kuala Lumpur, talents, who at the end of their routine

14 15 EVENTS

prompted the crowd to participate. And I am very privileged to be here The day’s itinerary then kicked off today to share a little bit on digital with a talk by Haresh Khoobchandani, revolution.” CEO of iProperty.com Malaysia Among other big names who and Singapore. His inspiring and presented at the conference were empowering speech paints a picture Andrew Chow, Social Media Strategist of the importance of embracing Ideas & Concepts with his presentation the change that comes with digital titled “Getting High in the Age of technology and how it can be used Disruption”; Brian Cassingena, Senior as a leverage. “We live in the most Copywriter for Mindvalley with ‘7 exciting of times,” stated Haresh. Figure Email Copywriting Secrets’ and “The opportunities ahead of us, for ‘5-Step Checklist For Writing Sales- property agents and real estate Getting Emails In Minutes’; and Jeevan are unprecedented. Technology is Sahadevan, Business Growth Expert, changing the world in ways that we Founder, and CEO of Leveragelab must learn to embrace no matter how spoke about ‘5 Powerful Strategies 2 young, how old or how used we are of to Create a Competitive Edge and doing things in a certain way.” MAXIMIZE your Success Online and Touching on the subject of digital Offline’. potential, Haresh applauded IQI on There were also several awards 1 The IQI team taking a group photo. their willingness in embracing change: presented to top achievers, rising 2 Haresh Khoobchandani speaks on his topic, “Embracing The Digital Revolution”. “You are all part of a cutting edge stars, as well some up and coming 3 Andrew Chow (Left), Haresh Khoobchandani organisation because this company is negotiators who have worked hard in (Middle) and Kashif Ansari (Right), dancing to the IQI Seasons of love song. poised to do world domination in ways contributing to the industry. Among very few people can foresee. IQI as other activities were a fashion show an organisation is leading the way in and a launching ceremony of an leveraging digital at the heart; which IQI Apps. The event ended on a is why we are here to be your digital positive note, inspiring, motivating technology partner, because at the and educating their agents on the heart of REA, we too want to change importance of digital technology. the way world experiences property.

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Great bargains under one roof iProperty.com’s Home & Property Investment Fair brought property investors a step closer to their new home.

- MIRA SOYZA

The Mid Valley Exhibition Centre It was a lively occasion filled with fun, event. Ishmael Ho, CEO of Ho Chin (MVEC) was transformed into a homely interactive and informative activities. Soon Research got the ball rolling on space from 4- 6 August 2017 as The event that spanned over three day three as he furnished the audience some of the top developers, property days included free seminars by some with information on ‘Greater KL Real consultant agencies as well as home of the most renowned speakers in the Estate Future Hotspots’. This was furnishing companies from all over real estate sphere. Day one kicked followed by the ‘Millionaire Forum’ the country came together bearing off with a talk by ML Lim - Business panelled by KC See, CEO of Mastery their best developments and products Development Director of Synergiem Asia; Jerry Tang, Founder and Director during the iProperty.com’s Home & Berhad - on ‘How to choose a right of Debannco Group; and Tony Lim, Property Investment Fair. The three property investment in a terrible a seasoned property investor. Other day event saw the attendance of more market?’. Alexander Woo, Vice speakers include Mark Chua, Best than 12,500 visitors, which comprises President of Financial Education of IQI Selling Author of ‘Who Says’ and first time home buyers as well as Holdings launched his book “Buying Founder of 925 Enterprise; Khalil Adis, property investors. Your 1st Property” on day two of the Founder of Khalil Adis Consultancy; Dr

16 17 EVENTS

1 Ishmael Ho, CEO of Ho Chin Soon Daniele Gambero, CEO of REI Group there is a 23% increase in number of Research talks about “Greater KL Real Estate Future Hotspots”. of Companies; Chris Tan, Managing properties sold. This exhibition also 2 Visitors having a good laugh during one Partner of Chur Associates, Gary saw an increase of property seekers of the talks. Chua, CEO of Smart Financing and looking to upgrade to a bigger home. 3 Alexandar Woo, Vice President of Financial Education of IQI Holdings Sr Vicky How, Principal of Propedia Among the developer who showcased during his book launch “Buying Your 1st Consultancy. their properties were Sime Darby Property”. 4-6 Property seekers visiting some of the There was a myriad of activities Properties Realty Sdn Bhd, Mah Sing participating developer’s booths at the that took place during the fair to keep Group Berhad, Tropicana Corporation event. 7 Visitors taking part in the Instagram visitors and their family members Berhad, Sunsuria Bhd, See Hoy Chan activity or “Me Place My Place” at the entertained such as free ice cream Sdn Bhd, Mayland Development Sdn iProperty.com’s consumer marketing activity booth. giveaways, massage sessions, batik Bhd, HKS Development Sdn Bhd, 8 Visitors registering at the registration painting session, henna art, and other Hatten Land LTD, Triental Land Sdn counter. interesting games such as spin and Bhd, Macly Equity Sdn Bhd, Tekat 9 Two property purchasers winning 26,000 Air Asia Big Points & a Nescafe win, sand art and Lego Duplo games Maju Sdn Bhd, Goldmine Properties coffee maker at the Property Purchasers for the children. There was also a (Numestro), Hua Yang Berhad, YBK Redemption Counter. 10 Speakers for the Millionaire Forum. booth allowing property seekers to Height Sdn Bhd, M101 Bukit Bintang From the left KC See, Founder & CEO of check their CTOS Score; how good Sdn Bhd, JKG Central Park Sdn Bhd Mastery Asia) & Jerry Tang (Founder & Director of Debancco Group). their credit health is and the approval and TSA Properties Sdn Bhd, Premier likelihood of their mortgage loan. Plus Property Sdn Bhd, Total Solid Visitors also had the privilege of testing Holdings Sdn Bhd (Platinum Victory) out the Microsoft HoloLens, the first and Orando Realty Sdn Bhd. mixed reality experiential device that Other exhibitors include Gintell (M) allows consumers to engage and Sdn Bhd, MyLori. com.my, We Build interact with digital content through Easy Sdn Bhd, Web Squared Sdn Bhd a hologram technology. A total of (Habitat), Mastery Asia, Ho Chin Soon RM30,000 worth of prizes were given Research Sdn Bhd, Palace Magazine, away to property purchasers and lucky Rayford Migration Services, HSBC daily visitors. Bank Malaysia Berhad, CTOS, Home The property fair netted 34 Product Center (Malaysia ) Sdn Bhd, exhibitors. Compared with the iNatural and iCart Malaysia Sdn Bhd February 2017 Home & Property (Happy Fresh). Investment Fair held at the same venue, 4

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16 17 BLT team takes on Property Convention 2017, Penang edition

The ‘BankLawTax’ trio tackled difficult questions on property investment and minimizing risks when purchasing properties at the Penang Property Convention 2017.

- MIRA SOYZA

1

No questions were left unanswered at the recent Property Convention 2017-Penang Edition by GM Training Academy PLT (GM), an entity who have been organizing some of the most educational property convention in both Penang and Kuala Lumpur in the last 5 years. The event that took place on 29th July 2017 at Vistana Hotel Penang saw the attendance of first time home buyers and property investors from all over the country. 2 3 This year, the BLT team that consists of Miichael Yeoh (Bank), Chris Tan (Law) and Richard Oon (Tax), offered their expert’s take on purchasing property the right way and minimizing who gave the attendees a full overview Penang (STP 2), Gurney, Gelugor (The risk when purchasing properties. GM’s of Penang’s unique demographic Light City), Paya Terubang ( Sunway founder and CEO, Miichael Yeoh kicked and hot spots, as well as the skinny Valley City), Batu Maung (Arcca Mixed off the event with an introduction of on its future growth, accessibilities Development) and Batu Kawan. the company and its journey in the and impending public transportation Penang’s very own real estate property industry. plans. During his presentation, Lim also giant, New Bob Group also joined the The introduction was then followed pointed out some catalyst projects rank this year to tackle the subject of by a presentation by the owner of which influenced the current prices affordable homes and green building. Penang Property Talk website, Ken Lim, and transactions such as Seri Tanjung Dr Lee Ville, New Bob’ Group Director,

18 19 EVENTS

1 Attendees checking out some of the developments featured at the convention. 2 Ken Lim of Penang Property Talk Website gives the audience a full overview of Penang. 3 New Bob Group’s Managing Director, Dr Lee Ville during his talk. 4 Miichael Yeoh, CEO and Founder of GM Training Academy. 5 Some of the developments featured during the convention. 6 Kaygarn Tan, Property Investment Coach poses with his best selling book “The Master Key Method”.

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spoke about the benefit of Green attendees with insights on Penang’s topics involving Penang properties; Building and how it can positively property transaction and house price while KK Goh, an investor and a contribute to the increase in a index. In his talk, he also highlighted property expert from Singapore, took building’s value (7.5%) and a decrease the two important pillars of property on the topics of investing in overseas in overall electricity consumption investment: choosing the right properties, particularly Vietnam and (25%). property and having the access to Australia, as well as the opportunities The final presentation of the day money. that await ASEAN countries with the was by property investment coach, The convention concluded with a completion of the High Speed Rail Kaygarn Tan who supplied the forum where the experts discussed (HSR).

18 19 CONTINEW: A unique and iconic development in Kuala Lumpur

Known for its range of upscale residential and commercial property projects in Sarawak, IBRACO ventures into West Malaysia to drive growth and development.

BRACO Berhad is Sarawak’s premier awarded a Letter of Acceptance from sized units and affordable housing, township developer established since the Public Works Department, Kuching, Continew which stands on a freehold I1971. A strong investment holding to construct and complete a new land measuring 5825 square meters, company, and listed on the Main Board airport in Mukah, Sarawak. consists of two-towers positioned of Bursa Malaysia Securities Berhad, its After having established itself well above a vibrant commercial space proven track record of over 40 years in Sarawak, IBRACO has ventured apartment suites in sizes between 550 has established IBRACO as the one of into the West through its maiden sq ft and 1,200 sq ft, with choices of the prominent property developers in commercial-cum-residential project at one (1), two (2) bedroom units, or the Sarawak, East Malaysia. Jalan Tun Razak, KL. dual key apartment units, and also Over the decades, IBRACO has built In accommodating the increased units with views of KLCC and the future and maintained a good reputation demand for purchasers seeking small Bandar Malaysia. for design, quality construction and timely delivery, gaining the confidence of house buyers. One of its proud developments is the Greater Tabuan Township, Kuching’s most sought-after addresses. This flagship development, spanning over more than 1000 acres, encompasses affordable and luxury residences, high-rise as well as integrated developments. This township has seen substantial appreciation in value over the years – successively creating a strong base of IBRACO brand loyalists. Recently, IBRACO has reached another milestone by diversifying into infrastructure development, after being

20 21 COVER STORY

Strategic locale with a shielded walkway covering a Investing in a location where a progres- fair distance of the walking route for sive transformation is in the works, is convenience of accessibility. The key to Continew’s appeal. It is located serviced apartment is also suitably between Jalan Tun Razak and Jalan located near several educational Yew, where extensive infrastructure institutions, namely SJK (C) Chung developments by the government will Kwo, SJK (C) Chin Woo, SJK (C) Kung change the landscape of the area in the Min, as well as 2 international schools, near future. The upcoming Tun Razak SAYFOL and Fairview International Exchange will conveniently connect all School. the extensive road networks to link all major attractions in KL together. The Facilities galore newly completed second phase of the Continew is conceived as an urban Sungai Buloh – Kajang (SBK) MRT1 sanctuary to celebrate the concept of line runs through Jalan Tun Razak with garden city living by creating a series a station at Cochrane MRT, which is of sky terraces and gardens. These are within minutes walking distance from created to provide ample landscape is double volume and approximately Continew. and communal spaces which intention- 1,800 sq ft has been introduced at the Bukit Bintang, one of KL’s most ally interspersed throughout the build- roof top to capture the spectacular popular attraction, is accessible ing for residents to interact, enjoy and panoramic view of the KL city skyline. from Continew via the Sungai Buloh build communities. A total of 6,000 In order to provide a more iconic Kajang MRT1 as well. The recently sq ft Sky Gardens are created on level identity to the development, a series of commenced MRT2 line runs through 23A and 33A. roof ‘lanterns’ has been introduced to TRX to Putrajaya with a stop at Chan To further enhance the concept of compliment the sky club. These unique Sow Lin MRT station, which is also a garden city living, a large expense of features as well as the sky terrace and walking distance from the serviced space on the ground floor and elevated gardens are prominently articulated apartment. recreational facilities deck are allocated in the building façade to create a bold Jalan Tun Razak is also the site for lush greening for the better comfort architectural statement in KL. for the development of new malls, of living and tranquil ‘relief’ from an Other amenities that are included with the recent presence of the new exhilarating city life. in the facilities deck are the BBQ pit, and biggest IKEA and the newly The facilities deck also features an Jacuzzi, sauna, island planting, indoor commenced MyTown Shopping infinity 50 meter lap pool and man- and outdoor gymnasium, yoga room, Centre. Both are located within made ‘sand beach’. A fully glazed games room, lounge, reading room, walking distance from Continew, and dynamic shaped sky club which multipurpose hall, and indoor and outdoor theater. Continew is affordably priced from RM500,000 with a low down payment, and is partially furnished. IBRACO is currently offering all purchasers rebates with the option to select a fully furnished packaged deal. Interested purchasers are advised to visit IBRACO’s KL sales gallery at the ground floor of Menara JCorp, or contact them at 03-2141 3666 / 2142 3666, or 082-361 111.

(main) Continew at night. (right top) Beach Pool. (right top) Centralised Garden. (bottom) Continew and its surrounding amenities.

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iPROPERTYiQ.COM

Malaysia & Selangor 2016 Industrial Property Market

(January 2016 - December 2016)

PB 23 Market watch: Industrial property

Premendran Pathmanathan, Data Services GM, iProperty Group shares his insights on the 2016 industrial property sub-sector’s performance in Malaysia and Selangor.

MALAYSIA

Transaction breakdown (%)

The Valuation and Property the most popular product at 48.1% much alike a bungalow’s. Most of Services Department (JPPH) defines or 1,102 transactions. the detached units’ tenants will end industrial properties as units that are A terrace factory is usually a up buying over the unit from their buildings/factories that engage in low-rise building with a common landlord as they are in it for the long- manufacturing activity and storage compound. These are suitable for run; thus it makes more sense to own (warehouses). trading businesses or SMEs that the unit than to continue leasing it for Industrial property sales in 2016 only need a small storage volume. decades. were dominated by 3 factory Those who require more space types namely terrace, semi-d and will opt for semi-d factories. For illustration purposes, sales which hovered in the 1 percentile, are not included in the chart above detached, where transactions Meanwhile, detached factories – the categories were multi-story factory (1.4%); totalled 2,290. Terrace factory was are even larger and have a layout warehouse (1%) and industrial complex (0.5%).

24 25 iPROPERTYiQ.COM

Market share by property type across states (%)

Terrace factory was the preferred zero sales for certain property types semi-d factory category in Kuala industrial product in most states throughout the review period. Lumpur; Malacca had zero terrace except for Sarawak and Malacca, For instance, no one acquired factory transactions while purchases where semi-d factory took the lead any terrace factories in Sarawak; in Pahang only occurred in the instead. Property trend varied quite no movement was recorded in the terrace factory category. a bit across states – some recorded

Cost PSF across states (RM)

Semi-d factories were most Prices too fluctuate significantly Selangor’s figures were 43% lower expensive in Selangor at RM618 between states. The cost PSF for at RM329. Surprisingly, Sabah was a PSF while the PSF cost of detached terrace factories was highest in close second-runner up with a cost factories was highest in Kuala Kuala Lumpur at RM578, whereas PSF of RM303. Lumpur at RM670.

24 25 SELANGOR

Transaction breakdown (%)

In Selangor, 891 industrial property sales were transacted in the review period, where the majority of sales or 59.1% (526) was garnered by terrace factories. The transaction volume for semi-d factories and detached factories amounted to 234 and 130, respectively.

Market share by top areas in Selangor (%)

The area which recorded the highest transaction volume was Puchong at 12.7% or 113 transactions. Shah Alam came in second at 10.5% (94), followed by Serendah with 9.1% (81).

26 27 iPROPERTYiQ.COM

Market share by property type for top areas in Selangor (%)

Terrace factory was the best performer in all areas, whereas detached factories were purchased only in a select few areas, namely Puchong, Shah Alam, Kapar and Balakong.

Cost PSF for top areas in Selangor (RM)

Terrace factory was most were 86.4% lower than PSF prices in was recorded in Shah Alam and expensive in Batu Caves at RM624 Batu Caves. the cheapest in Klang. Meanwhile, per sq ft. Comparatively, the PSF in Prices for semi-d factories in the PSF for detached factories was Serendah was considerably cheaper. Selangor ranged from RM434 to highest in Puchong at RM660 and At RM85 per sq ft the prices there RM910, where the costliest PSF lowest in Kapar at RM290.

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.

Are you looking for data insights for better business decisions? Drop an email to [email protected] and let us help you.

26 27 Therise in eCommerce drives demand for industrial real estate

From foodstuff to clothing, books and even furniture, it seems that consumers can find almost everything they need in the e-commerce realm. As Malaysians shift more of their retail spending online, we take a look at the impact this transition may have on the industrial property sector.

- REENA KAUR BHATT

It’s elementary why online retailing is seeing a major boost in Malaysia; most goods sold online are cheaper than their store counterparts and consumers are drawn by the attractive offerings available such as promo codes, ‘referral discounts’, flash sales and whatnots. What patrons might love more, however, is the minimal effort required; purchasing a product requires only a few taps on their mobile screens. And let’s not forget the petrol and time savings. This rising trend is likely to create a surge in warehouses/storage facilities demand from transport companies servicing both domestic and off-shore online retailers. The internet retailing boom is already likened to a tidal wave in western countries. In June 2017, global investment banking firm, Jeffries reported that there aren’t nearly enough warehouses across the U.S. to support internet retailers like Amazon. Jeffries also estimates that e-commerce retailers require triple the warehouse space as brick-and-mortar retailers, presenting a huge window of opportunity for warehouse landlords.

28 29 MARKET WATCH

Although Malaysia still has a lot of catching up to do with the USA in terms of online spending, it can’t be denied that we are steadily moving in the right direction.

Online retailing is snowballing:

“The Malaysian e-commerce market‘s revenue is expected to see an annual growth rate of 23.7% in the next five years (from 2016) and total earnings would hit US$894 million (RM3.75 billion). Further internet adoption will help fuel this growth trend - Internet user penetration in Malaysia is at 61.7% in 2017 and is poised to grow by 25% and hit 76.8% in 2021.” STATISTA LEADING GLOBAL STATISTICS CO

Despite the perceived sluggish overall economy, there is solid evidence that Malaysians are purchasing from online platforms more than before:

“Statistics derived from iPay88’s payment gateway systems, which currently represents over 70% of the nation’s eCommerce market showed a 161% jump in online transactions in 2016 (38.2 million) from the 14.6 million recorded in 2015. This figure continues to grow – iPay88’s transactional data in Q12017 shows that spending trends on marketplaces (a website or app that facilitates shopping from many different sources) recorded a volume growth of 293%.” CHAN KOK LONG EXECUTIVE DIRECTOR, iPAY88 SDN BHD

“Malaysia is one of the key markets for Southeast Asia’s largest e-commerce site Lazada and the country has shown the fastest growth within countries that Lazada operates in for the last six months, posting over 100% jump year- on-year in gross merchandise value” HANS-PETER RESSEL CEO OF LAZADA MALAYSIA (Sourced from theSundaily, 6 February 2017)

28 29 The question on investors’ minds is how big of an impact will this rising trend have on the local industrial property industry?

Allan Sim, Executive Director (Capital Markets), Knight Frank Malaysia lends his thoughts on the matter.

How will the growth in online a distribution centre cum warehouse has not improved much in the past retailing in Malaysia effect regionally. These phenomena will lead 10 years. One would realize that Qcurrent and future industrial to rising demand for large-sized Class the existing properties in the older property demand? A warehouses. industrial parks have lower ceilings Strategically located in the centre Notwithstanding that, we also heights and lack of facilities, which was of Southeast Asia, Malaysia offers a foresee an upcoming demand for previously built to cater to the former cost-competitive location that attracts smaller-sized warehouses located occupiers’ usage. investors to set up their operations near to the city centre, which promote However, the bulk of local industrial here. With the recent launching of the better accessibility and last mile activity has seen a transformation Digital Free Trade Zone (DFTZ) by the delivery. The latter is the movement in the past decade especially; from Malaysian government, e-commerce of goods from a fulfilment centre to manufacturing to assembly and now will be seeing a leg up. their final destination, i.e consumers’ onto the import-export business. The DFTZ is more than just an homes. In an age where convenience Business operators are looking for alphabet soup – the plan is to establish is expected, customers are demanding more storage units or warehouse space an e-fulfilment hub, which is a logistics quicker delivery times. This changes rather than a manufacturing plant. It center in close proximity to the Kuala the whole supply chain dynamic for is inevitable that future supply trends Lumpur International Airport (KLIA). storing inventory and delivery. will see the introduction of newer and This hub will function as a centralised Besides Malaysia’s prime location, more modern industrial property, such customs clearance, warehousing and the tax incentives offered to as gated-and-guarded industrial parks fulfilment facility for Malaysia and the multinational companies have attracted or logistics parks, which already is a region where its ultimate goal is to quite a few foreign businesses to set requirement among most MNC’s and speed up the clearance for imports and up shop here. Knight Frank has been foreign businesses. exports. receiving a number of requests from As tenants become more savvy This government initiative coupled e-commerce portal operators that are and selective, more will start looking with shifts in consumerism has driven a aggressively looking to set up their at the “Build-to-suit” concept, where corresponding growth in industrial real regional distribution centres in the industrial properties are customised estate for fulfilment and distribution. country. and designed to their specifications Industrial units are drawing much and requirements; instead of just attention as the logistic companies How can industrial property shopping around for a traditional unit. now require more distribution centres developers set themselves Also, value-added services such and warehouses. Q apart from the rest? How as flexible pick-up timings, packing We have noticed that although have tenant’s expectations changed solutions and inventory management e-commerce companies like Zalora and over the years and what are their and fulfilment solutions will be among Lazada usually have a warehouse in current/future demands? the factors listed on the tenant’s every country, they would still require The standard of our industrial property checklist.

“Knight Frank has been receiving a number of requests from e-commerce portal operators that are aggressively looking to set up their regional distribution centres in the country.”

30 31 MARKET WATCH

To accelerate eCommerce growth, 6 thrust areas have been identified under the National eCommerce Strategic Roadmap Malaysia’s National eCommerce Strategic Roadmap

Doubling eCommerce Growth

Supportive Governance Framework 1 2 3 4 5 6 Accelerate Increase Lift non-tari Realign existing Make strategic Promote seller adoption adoption of barriers: economic investments in national brand of eCommerce eProcurement • Domestic eFulfillment incentives select to boost by businesses • Cross-border eCommerce cross-border eCommerce • ePayment player(s) eCommerce • Consumer protection

Good and Affordable Infrastructure

Source: A.T. Kearny

What do you think should be (especially start-ups) in setting up offers lower risk, as once the industrial done to maximize Malaysia’s their business Malaysia. While being properties are rented out, the owner Q industrial property sector’s the facilitator and coordinator in will usually be able to get a long-term potential? charge of tracking and monitoring the stable income despite the high entry The Economic Transformation various guidelines and procedures, cost. Programme (ETP) has certainly the government must also strive to Industrial properties that are heightened the country’s productivity improve its delivery system. strategically located within a matured level and boosted the country’s New policies and clearer guidelines neighbourhood and with good economy. This was further enhanced to be introduced by the Government accessibility are highly sought after. with the recent government initiative or higher authoritiesshould take into The location is a key consideration for focused on boosting the growth of consideration incorporation of a distribution or fulfilment centres as it e-commerce. The National eCommerce company. Continuous engagement directly correlates with delivery time. Strategic Roadmap was launched in between the public and private sector is As explained, the last-mile factor would October 2016, with a mission in mind imperative for the development of the be the deal-breaker for most industrial to double Malaysia’s e-Commerce local eCommerce eco-system’s and in tenants. One would also need to take growth rate from the business-as-usual ensuring that the national agenda is met. into consideration of the layout and 10.8% to 20.8% and to reach a GDP specifications of an industrial unit. contribution of RM 211 billion by 2020. Most investors approach Most of the logistics and

* refer to infographic above industrial properties with e-commerce companies are searching It is timely for the authorities to have Q caution as it is a relatively for storage space that has high clear a standard policy with clear guidelines niche and risky asset class. What are heights of at least 30 feet, sufficient to address all these concerns such as your tips for Malaysians looking to power supply of roughly 200amps modes of entry, in order to facilitate invest in said real estate? at the very least and floor loading of foreign incorporated companies In fact we feel that industrial properties around 1.5-tonnes per sq metre.

DISCLAIMER: The information and views set out in this article are those of the author(s) and do not necessarily reflect the official opinion of Knight Frank. Neither Knight Frank and iProperty.com nor any person acting on their behalf may be held responsible for the use which may be made of the information contained therein. Readers are encouraged to seek independent advice prior to making any investments.

30 31 Help, I have a difficult neighbour! Check out our guide on disputes between neighbours and how to resolve them. - REENA KAUR BHATT

‘Love thy neighbour’ is a pretty simple commandment to follow - it simply means respecting others in your neighbourhood and being considerate with one another. Nevertheless, there are always a few bad apples out there who will test your patience or worse, cause harm to you and your family.

Koh Kean Kang, Legal Advisor for the National House Buyers Association I can’t stand my (HBA) weighs in on how to best deal with neighbour’s loud difficult neighbours. music at night

Common disputes between neighbours in Malaysia

• Ongoing construction/renovation work causing damage to adjoining properties

• Encroachment of land wherein building structures extends beyond one’s land boundaries

• Causing obstruction and inconvenience by parking vehicle in front or near the neighbour’s home entrance

• Making disturbing noises/causing a racket during wee hours

• Undertaking open burning My neighbour burns rubbish • Using property intended for private dwelling for short term rental purposes everyday!

• Turning private residential property into offices, for commercial purposes, etc

• Inter floor leaking issue in stratified developments

• Land trespassing

32 33 EXPERT’S VIEWS

What are the vital acts, rules and regulations that Malaysian homeowners must be aware of to ensure that they are both not flouting the law and that their own rights are being protected? The relevant laws regulating disputes between neighbours are not found in a single statute. Instead, different laws apply, depending on the issue involved. & In relation to issues of damage of adjoining properties, Q encroachment and trespass of land, causing obstruction and A nuisance to neighbours, the relevant laws are found in case laws which are essentially a body of case decisions made by the courts in the past. The local authorities are empowered by the Local Government Act 1976 (Act 171) to deal with filthy or overcrowded houses My celing is and certain types of nuisances which include those arising rotting from from animals kept at a premise, overcrowding of buildings and the leak above accumulation or deposit which will likely become a breeding place my unit. for mosquitoes, flies or any vermin. For stratified developments, there are statutory by-laws in the Strata Management (Maintenance & Management) Regulations 2015 which set out the do’s and don’ts when staying in the building. For example, owners are expected to maintain sanitary fittings, utility pipes and apparatus in good condition so as not to cause leakages to other parcels and not to cause nuisance or danger to any other proprietor/resident. Pursuant to the statutory by-laws, owners are also prohibited from using their parcel contrary to the terms of use shown in the plan approved by the relevant authority. The management body of a stratified development may propose and pass additional by- laws during general meetings. Additional rules may include safety and security issues, the keeping of pets or guests’ freedom in utilizing limited common properties. Sometimes, additional rules governing the enjoyment of property are also spelt out in the Deed of Mutual Covenants There is trash all (DMC), also known as ‘House Rules’. The DMC is commonly over my corridor signed together with the sale and purchase agreement (SPA) and it binds the developer/management body and purchaser(s). Therefore, strata residents are encouraged to at least have a basic understanding of the applicable by-laws and DMC.

What are the legal options/course of action and reliefs available for homeowners when it comes to neighbourly disputes? For instance, are there legal remedies against noisy neighbours? For stratified developments, the management body (developer/ JMB/MC) is given the responsibility under the Strata Management Act (SMA) 2013 to enforce by-laws (including additional by-laws) which include prohibitions against nuisance. The law provides that the management body may, by a resolution at a general meeting, impose a collectively-agreed on penalty sum upon offenders. These fines shall be a debt due to the management body and upon payment shall be deposited into the maintenance account.

32 33 In the event of a by-law breach by a proprietor, he shall at his own costs immediately remedy or make good Are there any laws regarding home renovation in Malaysia? What are the breach to the management body’s some of the things property owners must comply to when carrying out satisfaction. The costs incurred by renovation works with respect to surrounding homeowners and the the management body in carrying neighbourhood? out any repairs caused by the breach Pursuant to the Street, Drainage and Building Act (SDBA) 1974, shall also become a debt due to the relevant plans and specifications must be approved by respective local management body. authorities before the commencement of the following works: In the event a management body fails, neglects or refuses to enforce • On-site work for or in respect of a new building a by-law, an owner is entitled to file • Adds to or alters any existing building in such a manner as to involve a claim to the Strata Management new foundations; new or partly new; increased superstructure or roof Tribunal (SMT) which has the power on existing walls or foundations under the SMA 2013 to hear and • Converts a building not originally constructed for human habitation determine this issue. into a dwelling/residence In respect of nuisance which • Converts a building originally constructed as one dwelling-house into falls under the purview of Act 171, a more than one dwelling-house complaint may be lodged with the • Converts a house originally constructed as a dwelling-house to other respective local authorities. The local purposes authorities are given enforcement • Deviates (either before or after the completion of a building) from powers such as the power to issue any plan or specification approved by the local authority at any time a notice requiring abatement of • Infringes the provisions of SDBA or any by-laws relating to buildings nuisances to the relevant persons. • Renews or repairs any existing building in such a manner as to If the demand stated in the notice involve a renewal, reconstruction or erection of any portion of an is not complied with, the Magistrate outer or party wall to the extent of one storey in height regardless Court may issue an abatement order, a what material is used closing order or both. • Demolishes and reconstructs or adds to a building in such a manner For non-stratified developments or as to involve more than half the superficial area of walls and for disputes that fall out of the by-law partitions or half the superficial area of floors (excluding ground realm (for strata developments), the floor) or roofs matter will be dealt with in the court • Constructs an additional storey or storeys, or renews, reconstructs of law. This is provided that there is or erects an outer or party wall of the first, second or third storey no hope said dispute can be settled counting from the ground-up to the extent of one storey in height amicably between the opposing parties. Apart from the relevant approvals on the plans and specification, one The usual remedies asked for in must ensure that the construction/renovation works will not cause a court include permanent injunction nuisance to the neighbourhood and that it complies with the directions to restrain the neighbour at fault given by local authorities, i.e work can be carried out only during from continuing the wrongdoings stipulated hours. and also a court order for monetary Furthermore, an expert’s opinion ought to be sought to ensure that compensation to make good of the intended works would not damage or affect the buildings at the the damage suffered. When the surrounding area. Whenever necessary and upon the expert’s advice, wrongdoings are serious and need a dilapidation survey. This is an inspection of the existing structural to be put to a halt immediately, the condition of the surrounding buildings and structures before the aggrieved party may apply to the court commencement of a demolition, construction or development. This is for an interlocutory injunction, which useful in cases where it is foreseeable that disputes with neighbours is a temporary order restraining the with respect to damage to adjacent properties may arise as a result of wrongdoings pending the disposal of the work. the suit.

34 35 EXPERT’S VIEWS

How can we all be better neighbours and avoid disputes altogether? What are your tips for fostering better neighbourly relationships?

Proper and constant communication between neighbours is the key to avoid disputes. Whenever issues arise between neighbours, a gentle and non-confrontational approach should be adopted to communicate the problem. Neighbours should also practise empathy and be sensitive towards the needs of others. One of the ways to foster better neighbourly relationships is for residents to take part or organize community activities such as open house/gatherings, gotong-royong and community patrol programmes. It is understandable that many have busy and demanding lives but we should all strive to take some time out to socialise with our community. To quote a famous prose, “No man is an island” – a strong and friendly community can watch out for one another and help improve neighbourhood security as well. So be proactive today; you will be surprised by how much good cheer and the odd small talk can make a difference!

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

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PUSHING URBAN GROWTH BOUNDARIES

One Cochrane Residences by Mutiara Rini Sdn Bhd ONE COCHRANE RESIDENCES: A class act right on the tracks

Designed with the modern day urban dweller in mind, One Cochrane promises to be more than just a home – its residents will be investing into a wholesome neighbourhood which ticks all their lifestyle boxes.

utiara Rini Sdn Bhd, a Cochrane MRT station, further easing subsidiary under the Boustead residents’ access to the city and all the Mbrand is set to replicate goodies it has to offer. the bustling success of its flagship Dato’ Sri Ghazali Mohd Ali, Director development, Mutiara Damansara of Mutiara Rini Sdn Bhd sat down with with its latest offering, One Cochrane REENA KAUR BHATT and spoke about Residences. Nestled within the the company’s new development, One boundaries of Kuala Lumpur City Cochrane Residences and why it is the Centre, the condominium project will epitome of new generation property. be built next to the newly-opened

38 39 SPECIAL FOCUS

(main) Artist’s impression night view of One Cochrane Residences.

(bottom) Artist’s impression garden view of the One Cochrane Residences

(right) Close proximity to TRX and Bandar Malaysia.

Why did Mutiara Rini choose to Valley as the line is integrated with develop in the Cochrane area? other rail nodes such as the KTM, ERL The Cochrane address is an ideal one and LRT. An underpass is also currently – located just 4.2 km south-east of the being built from the MRT station to city centre, the neighbourhood enjoys the lower ground floor of MyTown the perks of being within a convenient Shopping Centre, a 1.1 million sq ft mall distance to various commercial located right across the condominium components including hotels, banks, project and next to the world’s leading DATO’ SRI GHAZALI MOHD ALI parks, schools, medical facilities and home furnishing retailer, IKEA (Cheras Director golf courses. outlet). Mutiara Rini Sdn Bhd Moreover, it neighbours the Tun The Cheras area has matured Razak Exchange (TRX), an upcoming considerably over the years with iconic 70-acre development that is various conveniences and amenities slated to be an international financial being introduced, further contributing and business district. Also within to the area’s growth and its close proximity is the proposed KL- surrounding housing estates, Cochrane Singapore High-Speed Rail (HSR) included. The newly completed terminus in Bandar Malaysia, which apartment blocks for civil servants as will draw in the tourist and business well as Sunway Group’s residential and traveller crowd from Singapore. commercial projects located nearby The most exciting feature of our have also contributed to Cochrane’s development is its neighbour - the MRT population boom. Cochrane Station, which is expected These provide for a huge catchment to ferry up to 400,000 people daily at area, as proven by the strong its peak. Located just 260m away from visitorship at IKEA Cheras and MyTown. One Cochrane Residences, the new Millions of footfalls can be witnessed MRT makes it possible for residents to each weekend as families and Gen-Ys easily commute to the city centre and throng the 2 malls to shop, dine and other localities within Greater Klang relax.

38 39 What are prospective buyers’ The public was also attracted to response to One Cochrane Residences our ‘dual-key’ units, which have 2 and what do they like about the separate entrances, opening into project? different rooms within the unit, with Although location wise, it is in a prime a common lobby in between. This area nearby to the city centre, the provides purchasers with the option of project boasts a freehold residential multigenerational living and facilitates title. This feature is an added plus as the renting process for investors. most of the new residential projects We configured smaller unit sizes being launched now bear commercial (from 926 sq ft onwards) to enable titles due to land scarcity in KL. This for a more affordable entry point for freehold status translates to lower purchases. Mutiara Rini is aware of the What are the environmentally friendly utilities, quit rent and assessment rates. challenging economic climate; most or sustainable features within the Most importantly, residents will enjoy aspiring home buyers find it difficult project? What benefits do these lower maintenance fees too. to secure a bank loan. We hope to features offer? Many home buyers/investors love assist their home ownership dream by The vision for One Cochrane is to the strategic location – the city centre offering smaller units with lower price provide a sanctuary amidst an urban is a mere 15-minute drive away and the tags, thus increasing their chances of setting. Hence, a focus is placed on prime neighbourhoods of KLCC and qualifying for a home loan. the provision of green space; 25% Bukit Bintang are within a 5km radius. of the development area is catered Moreover, Mutiara Rini has recently towards landscaping. There will be 3 constructed flyovers which connect the levels dedicated to lush greeneries, i.e Cochrane area to Jalan Tun Razak and Ground Level, Level P9 (facilities deck) the MEX Highway, further enhancing and the roof top. residents’ accessibility. The once Upon entering the main entrance, narrow Jalan Cochrane has also been residents will be welcomed by the upgraded and widened to make way development’s signature feature – a for the development, hence benefiting the surrounding areas as well. The neighbouring Cochrane MRT Station is a big plus for the urban resident. Ease of commute results in time and cost savings, some residents who work in the city centre might not even need to purchase a car! Various lifestyle destinations and attractions are easily accessible via the MRT too including the upcoming TRX Lifestyle Centre, KL Sentral and Pasar Seni. We opened the doors of our Sales Gallery in February this year and response have been encouraging. Many potential buyers commended the low-density development, which only has 6 units per floor. The units are serviced by 4 passenger lifts and a dedicated service lift, guaranteeing residents’ privacy.

40 41 SPECIAL FOCUS

(top) The view from One Cochrane Residences.

(bottom right) Cafe area; gym area; tree house; barbecue area.

(right bottom) Dining area; Bedroom.

Tree House structure with a lush Besides that, the design of this in and around Cochrane. Besides that, planting backdrop. It is an alternate development centres on care for its Boustead Holdings, in a joint venture communal space for the residents, residents including the young, those with Ikano Group has contributed which provides a lounge space, with limited mobility and the disabled to the rejuvenation of Cheras and relaxing area and a reading room. This as ramps, staircases and railings are its surrounding areas through our leads off the drop off courtyard which provided for their convenience and developments, namely IKEA Cheras, features a reflective pool and aromatic safety. Residents will find the covered MyTOWN Shopping Mall and now the multi-branching tree species as a sense footpaths and walkways between the One Cochrane Residences. of a welcoming for the residents before residential blocks and the parking In addition, the completion of the entering the lift lobby. blocks extremely convenient too. upcoming LDP 3 Highway which will Level P9 will feature numerous skirt the northern part of Cochrane will facilities including a children’s play Does the project’s USP reflect a new further enhance accessibility to this area, outdoor fitness, meditation lawn, property trend in Cheras? If so, what area. We are expecting significant and reflexology path garden dining, and a is the growth potential for this trend further growth in the future as the TRX BBQ terrace. There are 2 zones, namely in the future? Financial Centre and Bandar Malaysia the pool zone and the cascading In an age where convenience is prized, projects start to take shape. gardens towards the rooftop. The millennials will want to be able to former’s centre of attraction will live and work closer to the city. Gen be a 25-metre infinity pool and is Y home buyers are looking for that complemented by an aqua gym, connectivity and convenience factor, About the developer floating lounge, family jacuzzi and hence developments located nearby Mutiara Rini Sdn Bhd is a member children’s wading pool. LRT/MRT stations, malls and F&B of the Boustead and LTAT Group outlets will generate high demand. Companies and is the developer of For example, the Cochrane MRT 2 large scaled mixed-developments. enhances the property value for The first being Taman Mutiara the residents of One Cochrane by Rini in Skudai Johor as well as facilitating the lifestyle of an urban Mutiara Damansara, a 335-acre working professional. freehold housing and commercial development located in the heart Do you have a long term vision for of the most affluent sector of Klang Cochrane vicinity — how do you see Valley. Cochrane contributing to Greater KL For more information on One ‘s transformation into high-income Cochrane Residences, call and top 20 liveable cities in the world 03-2141 9044 (ext 255/147), sales by 2020? gallery number 03-9200 8008 or The redevelopment of Cochrane visit the developer’s sales gallery at: has already been put in place via the Jalan Cochrane, Lot 1246, 55100, relocation of the government quarters Kuala Lumpur. and the upgrading of the infrastructure

40 41 #youshouldbuyhere – Hotspots Along MRT Line 1

The newly opened Klang Valley MRT (KVMRT) Line 1 is something to cheer about amid the property market lull as it is expected to increase overall property values by roughly RM300 million per annum in Greater Kuala Lumpur/Klang Valley. Follow Khalil as he takes the MRT and points out the areas where you should consider buying into right now.

- KHALIL ADIS KHALIL ADIS Director of REI Mediaction Sdn Bhd which specialises in the digital media landscape by Key facts and figures leveraging on the power of the • RM23 billion: The estimated cost of building KVMRT Line 1 Internet and social media. It adopts • 51km: The entire length of Line 1 spanning from Sungai Buloh to Kajang MRT a multi-pronged online strategy station covering content marketing, lead • 31: The total number of MRT stations from Sungai Buloh to Kajang MRT station generation, discussion threads via • RM300 million: The estimated gross development value (GDV) per annum the hashtags, crisis management and KVMRT Line 1 project is expected to raise the overall property values in the media relations. Klang Valley • 20,000: The expected job creation by 2020 with a gross national income (GNI) He can be reached via of RM24,630.28 billion [email protected] • 400,000: Daily ridership the KVMRT Line 1 is expected to generate

Klang Valley’s property market is set works have been completed. for a major boost amid the otherwise First announced on 25 September quiet market. With the KVMRT Line 2010 under Malaysia’s Economic 1 now fully operational, all sectors of Transformation Programme (ETP) the real estate market are expected roadmap, the KVMRT Line 1 project to enjoy the positive spillover impact which spans 51 km and comprises 31 from this game-changing infrastructure stations, is among the nine Entry Point development. Projects (EPPs) to take Malaysia into a According to MRT Corp, the KVMRT developed country status by 2020. Line 1 project will have a positive Performance Management & spillover effect on 1.2 million sq ft of Delivery Unit (PEMANDU), the commercial and residential properties government unit tasked with driving with an estimated increase of RM300 Malaysia’s ETP anticipates the MRT million per annum in their gross project to create around 20, 000 direct development values (GDV). GDV is a and indirect jobs with a gross national valuation metric used by developers income (GNI) of RM21.3 billion annually to determine what their property or by 2020. real estate project may be worth on Although PEMANDU had projected the open market once all development the initial estimates for the MRT to cost

42 43 SPECIAL FOCUS

KVMRT Line 1

Source: MRT Corp

around RM47 billion (RM36 billion for still is) the norm. If we were lucky, we particular saying among KLites that “it infrastructure costs, RM2 billion for would reach the city centre by 8 am, is better to drive than to take public land acquisition, and investments of just in time to have breakfast at the transport in KL.” RM9 billion for operating assets such local mamak stall. While the government has as rolling stock), MRT Corp has since At a press briefing that I had responded by building different revised the figure downwards to RM21 attended in 2009, former mayor of train lines to alleviate the daily traffic billion. Kuala Lumpur, Dato’ Ahmad Fuad congestions since the 1990s, latest Still, it remains one of the largest Ismail revealed almost one million data from DBKL showed that the infrastructure development project cars would come in and out of the city penetration rate among consumers undertaken by the government. DAILY, contributing to the massive taking public transport in the city is traffic jams that you see right now. extremely low at well below 50%. The need for MRT In addition, a report by DBKL titled In comparison, Hong Kong’s and The chronic traffic jams and the lack “Kuala Lumpur Structure Plan 2020” Singapore’s population taking public of integration in Kuala Lumpur’s public stated that the root cause of the traffic transportation account for 80 and 75%, transport network are real issues and jams in Kuala Lumpur is the decreasing respectively. In Singapore, almost 50% something that most KLites can attest percentage of public transport of the population takes the MRT to to and which I had experienced first operators and the increasing number work. hand. In fact, ask any KLite and they of car ownership. With Greater Kuala Lumpur/Klang will tell you of their daily commute For instance, between 1985 and 1997, Valley’s population expected to reach hassle of having to rise early at 6 am- Kuala Lumpur City Hall’s (DBKL) data 10 million by 2020, the government ish to brave almost an hour of traffic showed that the modal share of public had flagged transportation as one of jam just to get to work on time. transport decreased significantly from the key areas in order to transform In 2008 to 2009, for instance, I 34.2% to 19.7%. DBKL cited this major KL into a world-class sustainable city. was staying briefly in Kuala Lumpur shift away from public transport (in Thus, the KVMRT Line project was to report on its property market and particular, bus transport) was partly identified as one of the Entry Point relied heavily on the city’s public due to higher personal affluence Projects (EPP) under the government’s transport to get around. I was living leading to an increase in car ownership ETP road map to take Malaysia into a with a friend in Kepong back then. and to deficiencies in the bus services. developed country status by 2020. In order to get to work by 8.30am With cars being relatively affordable With the Line 1 now fully operational, in KLCC, we would have to leave our in Malaysia, compared to Singapore, we took a ride on the MRT and sussed apartment by 6.30am. The traffic it is thus no wonder most Malaysians out the areas that you should watch would be back-to-back. Honking and prefer to drive. In fact, there is a out for. Flip the page to find out more! swerving in and out of lanes were (and

42 43 TUN RAZAK EXCHANGE Key Economic Area, EPP 8 program. 2017. This represents some 51% in The Tun Razak Exchange (TRX) The anchor tenant is Zouk KL with 5 capital appreciation. development is set to be an distinctive entertainment zones and Lendlease will be among the international financial district while 3 event spaces. There are 77 outlets developers transforming Kuala the TRX MRT will be the largest with a total of 200,000 sq ft of lettable Lumpur’s city skyline with its first underground MRT interchange station. space offering lifestyle + F&B choices, urban regeneration project undertaken This iconic project will have a GDV with lease-only units ranging from in Malaysia called the TRX Lifestyle of RM40 billion and a total gross 200 to 5,000 sq ft. According to Quarter. A joint-venture between floor area of 20 million square feet. iPropertyiQ.com’s data, the median Lendlease and TRX City Sdn Bhd, the Developed along Jalan Tun Razak, price for homes here is around RM401 mixed use development will comprise TRX will be Malaysia’s first dedicated per sq ft. The Exchange TRX (a premier retail financial district much like Raffles Although high-end projects have lifestyle destination), TRX Residences Place/Shenton Way in Singapore. The yet to be launched in TRX, this is going (six residential towers) and a business master plan is impressive with a mix to be ‘another KLCC’ where prices hotel overlooking the TRX Park. of residential, commercial and office can fetch as high as RM2,000 per sq Two residential towers are slated to precincts. ft. TRX will have a very cosmopolitan be launched next year - residents will In addition, there are plans to demographic once the entire project is have quick access to the HSR station integrate the station with TREC, completed, much like KLCC. to be sited in Bandar Malaysia which located just adjacent to TRX. Like According to iProperty.com’s listings, will link Kuala Lumpur to Singapore in TRX, TREC is home to Malaysia’s first the asking price for a three-bedroom 90 minutes flat. Not only that, Bandar dedicated entertainment enclave. apartment nearby called Ixora here Malaysia has been designated for This project has been earmarked fetches between RM1,500 to RM2,200 the Digital Free Trade Zone (DFTZ) as one of the zones that will receive in rent per month. Additionally, initiative, where the Satellite Services support for its development as part of iPropertyiQ.com data showed that Hub located within is expected to KL Tourism Master Plan 2015 – 2025. Ixora has experienced significant create some 60,000 direct and indirect TREC is endorsed by the Malaysian price appreciation from RM282,263 in jobs. The DFTZ will have a GDV of Ministry of Tourism under the National February 2016 to RM426,439 in March RM286 billion.

overlooking KL’s dynamic skyline Triangle into an international will complement The Exchange financial district will also be an TRX, which is poised to become impetus toward a meaningful KL’s new vibrant social heart and a rejuvenation of the adjacent Imbi premier retail destination, bringing and Pudu neighbourhoods; two together over 500 local and of KL’s oldest commercial districts international brands. which hold significant potential Not only will the TRX site for urban renewal into vibrant and TONY LOMBARDO be connected to KL’s largest livable addresses. CEO of Lendlease Asia underground MRT interchange Kuala Lumpur has the elements station, but there will also be a loop that make a truly dynamic tunnel that provides direct road global city; from its diverse Sustainable living is a key aspect access to the MEX Highway, SMART neighbourhoods to its rapidly of the TRX development and shall tunnel (Stormwater Management developing transportation be embedded into the product and Road Tunnel) and other primary infrastructure. The TRX and features to encourage a arterial roads of KL such as Jalan development will herald a new healthier balanced lifestyle. Place Tun Razak. chapter for the city, as KL seeks to making through community space The transformation of the find its place amongst the world’s such as TRX Park, a rooftop park southeastern flank of KL’s Golden most dynamic financial hubs.

44 45 SPECIAL FOCUS

COCHRANE links the MRT station to both IKEA and The Cochrane MRT station will be MyTown. As such commuters will have underground and is located just a stone to exit the station and then cross over throw’s away from IKEA Cheras and two roads with no pedestrian links MyTown shopping centre. Currently just to get to them. This is a pity as an undeveloped area overlooking IKEA and MyTown would have greatly apartments and flats, Cochrane is benefitted from the potential footfall of expected to be a highly sought after around 400,000 daily ridership. site for residential and commercial There were no residential developments as it is a prime location. developments here in the past except Cochrane is also served by AEON Big for the low-cost apartments. However, Jalan Peel, places of worships and of late, several new launches have been schools. noted including One Cochrane and While the station’s location is very Sunway Velocity. We can expect the strategic, it suffers from a design launch price to be around RM1,400 per flaw whereby there is no direct sq ft similar to Bukit Bintang’s average underground pedestrian linkway that per sq ft price. The MyTown shopping centre located just 100 metres away from the Cochrane MRT station. (Image Credit: Khalil Adis)

and improved the living standards and boutique hotels, private of Malaysians, thus contributing in educational centres and reknowed part to the government’s Economic medical centres are all located Transformation Programme (ETP) within 2km-5km away. With the and Greater KL Transformation plan. upgrading of infrastructure in and The One Cochrane Residences around Cochrane including the will soon join the flagship upcoming completion of the LDP 3 development list in Cochrane, Highway, accessibility to various key DATO’ SRI GHAZALI MOHD ALI further catalysing regenaration destinations in Kuala Lumpur will be Director in the area and in adjacent further enhanced. Mutiara Rini Sdn Bhd neighbourhoods. One Cochrane It is safe to say that significant is the epitome of new generation and further growth is on the cards property – it brings to the table for Cochrane as the TRX Financial a contemporary lifestyle which Centre and Bandar Malaysia The rejuvenation of the Cochrane crystallises the live, work and play projects start to take shape. Once area was spearheaded by Boustead concept. It has all the supporting completed, these destinations Holdings Berhad and Ikano Group components located right at its will only be an MRT stop away. through the development of doorstep – an MRT station, a Cochrane is primed to be a hotspot flagship developments, i.e IKEA shopping mall and even an IKEA address - we are confident that Cheras and MyTOWN shopping store. Cochrane will bloom into a vibrant centre. The transformation of this The KLCC twin towers, Jalan and dynamic area complementing part of Kuala Lumpur has already Bukit Bintang and Jalan Ampang its next door neighbours, TRX and created more than 2,500 new jobs shopping districts, international Bandar Malaysia.

44 45 SPECIAL FOCUS

TAMAN CONNAUGHT lack of human traffic and several shops The Taman Connaught MRT station remain either closed or untenanted. is strategically located near the busy Still, workers here said that this was intersection of the Cheras-Kajang a significant improvement before the Highway and just opposite Cheras MRT station was completed. Sentral Mall. This massive mall The good news is the upcoming measures over 1 million sq ft with over Cheria Heights Apartment will be 450 retail outlets ranging from fashion connected to the MRT station via a link to electrical goods spread over eight way bridge. The MRT station will also floors. Some of the key anchor tenants serve residents living in Taman Orkid here include MR D.I.Y, Japan Home Desa, Taman Cheras Hartamas and Centre and Jaya Grocer. Taman Len Seng, all which have a good Again, there is no direct connection mix of landed homes and apartments. to the mall which would have greatly iPropertyiQ.com data revealed that benefitted from the footfall from the the median price for apartments and MRT project. During our last visit, the landed homes here are around RM174 mall’s tenants suffered greatly from per sq ft and RM394, respectively. A view of Cheras Sentral mall from the Taman Connought MRT station. (Image Credit: Khalil Adis)

KAJANG Taman Hijau, Taman Bukit and Taman According to iProperty.com’s Kajang is the last station on the Kajang Jaya. listings, the asking rental price for Sungai Buloh-Kajang MRT Line. It will The area is mainly dominated by a three-bedroom condominium serve as an interchange station to the residential enclaves comprising landed nearby called Sentral Residences I & KTM Komuter Rawang-Seremban terraced homes, semi-detached and II is RM1,100 per month. Notable new Line serving the townships of Taman bungalows. Some of the amenities here launches here include a commercial Mahkota, Taman Desa Seroja, Taman include places of worship, educational development called SOFO @ MKH Bukit, Taman Jelita, Taman Pasir Emas, institutions and banks. The median Avenue starting from RM589,000 or Taman Tanming Emas, Taman Sri Reko, price for landed homes here is around around RM580 per sq ft on average. RM190 per sq ft.

MKH Avenue which offers retail cum SOFO units will be within walking distance to the Kajang MRT station. (Image Credit: Khalil Adis)

This article contains excerpts from Khalil’s upcoming book – coming soon to major bookstores near you!

DISCLAIMER: The opinions stated in the article are solely of Khalil Adis, Tony Lombardo and Dato’ Sri Ghazali Mohd Ali and are not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

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+603 2264 6888 [email protected] www.iproperty.com.my All hail RAIL: MRT to amplify Klang Valley’s growth

KK Goh shares how transportation infrastructure helps improve a city’s performance and in particular why the MRT 1 is a game changer for Klang Valley’s economic landscape.

- REENA KAUR BHATT

How does rail infrastructure high quality of living for its residents add value to an area/locality? mainly because of the efficient MRT Rail infrastructure is critical to support network in place. Public transportation a city’s continuous growth, it functions penetration exceeds 80% and very few to transport the masses in and out Singaporeans actually drive, most will metropolitan areas and the connecting hop onto the MRT to commute from suburbs. In many countries, a rail one place to another. system that is up to speed is the An excellent transportation system holy grail for its citizens; as it makes goes hand in hand with economic it possible for millions to work in the prosperity; it contributes towards city centre while living out in more employee productivity, saves family-conducive and financial-friendly time and cost and is energy and neighbourhoods. environmentally-friendly, among many Take Singapore for example, this factors. You have to wonder, how much tiny republic which is smaller than did the MRT influence Singapore’s Penang Island is able to evade traffic growth and is it any wonder that congestion issues and maintain a Singapore is now the financial hub of

48 49 SPECIAL FOCUS

Meanwhile, Malaysia’s own MRT Line 1 (Sungai Buloh-Kajang) which was fully operational by mid-July 2017 is slowly proving its ‘magic-wand’ effect in changing KLites lives for the better:

“ The Sungai Buloh-Kajang MRT had “ One MRT train with four coaches can contributed to an increase in the Gross carry 1,200 people comfortably. Imagine National Income of between RM3 billion the space needed for 1,200 cars on and RM4 billion per annum since 2011. the road instead; we can certainly help Even better, the MRT is now creating alleviate the traffic congestion issue a positive impact on small business throughout Klang Valley. If 400,000 people operators along its route. For instance, were to use the MRT train service every businesses around the Kajang MRT has day, it is estimated that we would have seen a 50-60% business improvement 160,000 lesser cars on the road.” since MRT 1 began its operations.” Datuk Najmuddin Abdullah, Strategic Reports Datuk Seri Nancy Shukri, Minister in the Communications & Stakeholder Relations Director, Prime Minister’s Department MRT Corp during a Dewan Negara sitting on August 14, 2017 Quoted from Bernama Report (July 13, 2017)

“ The MRT project had given our company the opportunity to develop “ The MRT 1 is expected to reduce a shopping centre in Cheras. The 34,400 tonnes of carbon dioxide EkoCheras mall, which will be completed emissions per year. This will certainly next year will be connected to the Taman help mitigate the air pollution issue in Mutiara MRT station and will be another the City Centre” attraction for the residents of Cheras and its surrounding areas.” Datuk Seri Dr Wan Junaidi Tuanku Jaafar, Natural Resources and Environment Minister Datuk Seri Lim Keng Cheng, Managing Director of explaining to reporters during an MRT site visit on Ekovest Bhd 9 August 2017 Quoted from Bernama Report (July 15, 2017)

How important is rail rates are minimal for properties located of opportunity cost after all. Not infrastructure for property nearby MRT stations. A growing forgetting, a car is a depreciating asset. investors and home buyers? number of urbanites are willing to pay This demand trend should be Property purchasing for investors boils a higher rent for strategically-located replicated for properties along any down to the ease of securing tenants. units and save instead on the petrol, other MRT line, the MRT 1 included; What is the top requirement among time and hassle involved for a longer providing of course investors ask for renters? Besides affordability, it’s ease commute. The main priority for Gen-Ys reasonable monthly rents. A quality of commute. Single KLites or young especially, is convenience and work- property unit will enjoy healthy couples working in the city would life balance; they are no longer willing capital appreciation too as improved prefer to stay near an LRT/MRT station. to waste hours of unproductive time transportation links lead to long term Based on my personal experience on the road everyday. Many even land value increases and commercial in property investment in Singapore, forgo purchasing a car, it is a matter activity stimulation within the locality. demand is high and tenant turnover

48 49 SPECIAL FOCUS

What are your tips for How do you think the investors who are looking subsequent MRT lines (Line to purchase properties 2 & 3) could be improved on surrounding the new and to enable maximum positive upcoming (MRT 2 &3) spill-over effects for the local stations? community and the country’s At the risk of sounding like a broken economy? record, investors must do their due Inter-connectivity between the MRT diligence. Do not take for granted that lines with other rail nodes within Klang location is all that matters; research Valley/Greater Klang Valley must KK GOH and ground work is also imperative be integrated effectively. Switching Millionaire property investor & in ensuring you are not being short- between rail lines must be a smooth, property coach changed. Also, make sure to cross- safe and comfortable affair. This means Connect with KK Goh here: check with similar transactions by all the supporting components such as www.facebook.com/ logging onto brickz.my, which provides covered walkways, escalators, proper theAwesomeAlliance up-to-date actual property transaction lighting, etc must be in place. The prices. purpose of public transportation – to A point to note however, developers provide affordable and easy commute, with properties around the MRT Line 1 must be met. stations would have already factored More importantly, consistency and in its convenience factor into their regular maintenance must not be selling prices. Hence, if you manage sidelined; train frequency should be “A growing number to find a reasonably-priced or below- kept at optimal levels, rail schedules of urbanites are market value property, do not hesitate must be followed and there must be to make it yours. Investors would have regular feeder buses at each station. willing to pay a a higher chance securing units along Only then would the community fully the future MRT Line 2 & 3 though. Start utilize the MRT and reap the positive higher rent for ‘fishing’ for units by scoping out which benefits in turn. If our rail service developers will be building along these is not up to par, it does not make a strategically-located routes. Pay special attention to TOD difference if your property is fronting projects, as these will generate high an MRT station or not; it will no longer units to avoid the demand among urban renters. be a selling point for tenants. Most will prefer to travel to work by car or ride- hassle, time and hail services such as UBER or GRAB petrol costs which instead. Furthermore, an efficient rail network will also serve as a catalyst a longer commute for the tourism industry; tourists are growing savvier and many will demands.” research beforehand to determine the convenience and affordability factor of travelling between places of interest. Meanwhile, a well-established rail network will attract ‘repeat customers’ – Malaysia is already blessed with its tropical climate, delicious fare and rich history. A world-class public transportation system acts as the dash of spice which transforms a dish from ‘just tasty’ to mind-blowing.

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

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+603 2264 6888 [email protected] iproperty.com.my/homeowner Kajang: Where railway lines go, home buyers follow Transportation infrastructure is a powerful enabler – connectivity helps create new neighbourhoods and intensifies older ones. With the MRT Line 1 (Sungai Buloh-Kajang) up and running, the residential suburb of Kajang is poised to redefine itself as a bustling transit town. - REENA KAUR BHATT

We take a closer look at Kajang’s Percentage of transactions by building type in 2016 (%) housing landscape with the help (secondary properties only) of iPropertyiQ.com’s latest data. Meanwhile, Aziz Ahmad, Founder, Hartanahguru.com provides his insights into Kajang’s growing appeal as a residential address. At 42.9%, landed property takes the crown for the sub-sale residential category. This trend has remained unchanged for years, given that most home buyers in Kajang are families or young couples planning to start a family. As explained by Aziz, Kajang is one of the top residential options among house-hunting working professionals who have been outpriced in the city centre whereas there are numerous affordable residential products in Kajang. As shown in the graph above, flat is the second most popular option with 24.5% or 300 transactions. The second-runner up, apartments garnered *Total Transactions = 1,225 17.6% or 215 sales.

Key figures for top 5 property types in 2016 The top performer, terrace homes, recorded high capital Y-O-Y ASKING ASKING BUILDING MEDIAN PSF CAPITAL MEDIAN growth value at 11.2%. Aziz says TOTAL RENTAL TYPE (RM) GROWTH RENTAL YIELD (%) that said percentage makes (%) (RM) this property type extremely Terrace appealing to investors as average 561 349 11.2 1,500 4.3 houses figures in the current market are trending in the 7-8% range. Also, many developments in Kajang still Flats 321 147 13.6 620 7.4 bear a freehold status. Meanwhile, flats provided above - average rental yields of 7.4%. As shared Apartments 230 257 5.3 950 4.6 by Aziz, it is quite difficult for landlords to obtain rental yields Town 57 287 -3.0 1,800 6.5 exceeding 6%. houses

52 53 RESEARCH DATA

Top 10 most popular projects/neighbourhoods in 2016 Bandar Seri Putra and Bukit Mahkota do not provide for such attractive BUILDING MEDIAN PSF components. RANK PROJECT/TOWNSHIP TRANSACTIONS TYPE (RM) At RM294 per sq ft, it is no wonder that home buyers are flocking to this 1 Bangi Avenue TH 58 294 neighbourhood. Moreover, the Bangi KTM station, 2 Saujana Impian TH 31 404 which is just 2 stops away from the 3 Taman Kantan Permai TH 29 326 Kajang station and the interconnecting MRT station is located nearby Bangi 4 Taman Kajang Utama Flat 28 136 Avenue. Thus, facilitating residents’ commute around Greater KL. 5 Taman Bukit Mewah TH 28 421 According to Aziz, many home hunters have in fact switched their 6 Mutiara Heights Condominium 22 322 attention from the once-popular 7 Kelisa Ria Flat 21 200 neighbouring Bandar Baru Bangi which now bear higher price tags. 8 Teratai / Mawar Apartment 21 245 Older terrace homes are going for RM400,000 to RM500,000 while 9 Selesa I Resort Apartment 20 258 newly completed homes cost between RM600,000 to RM700,000. 10 Sri Ria Apartment 20 260 Saujana Impian, on the other hand, is considered to be the Kajang’s elite neighbourhood; hence its higher price per sq ft of RM404. What were potential purchasers searching for in 2016? (%) Conveniences located within vicinity include Impian Golf and Country Resort, Tesco and Giant hypermart. The township is anchored by 2 well-known developers, namely Sime Darby and Farlin Group. Awarded the “Best Planned Township Design” by the Town Planning Institute of Malaysia, Saujana Impian boasts good road connectivity too. It is served by highways such as LEKAS, SILK and Grand Saga, which makes the drive to KLCC only 35-minutes long. What takes the cake, however, is Saujana Impian’s strategic location – the Kajang’s MRT stations (except for Bukit Dukung) and the Kajang KTM are all within a 1.5km radius. Those who cannot afford homes within Saujana Impian will consider Taman Kantan Permai instead as it sits Terrace homes in Bangi Avenue are Aziz points out that families may find just next to the former, revealed Aziz. popular among owner-occupiers as it especially attractive as this new This enclave shares the same this newly completed development township has its own waterpark, Bangi amenities and connectivity advantage offers a gated & guarded (G&G) Wonderland, a family hypermart, a as Saujana Impian but homes here are scheme at a very attractive price of commercial centre as well as a hotel. roughly 19% cheaper than its Saujana between RM400,000 to RM500,000. Meanwhile, neighbouring projects, Impian counterparts.

52 53 Growth potential The MRT now makes it incredibly convenient for Kajang residents to commute daily to areas such as Damansara, KLCC and Cheras. Investors too are keen to get a Given the recent launching piece of the Kajang property pie considering how new transportation infrastructure is only expected to provide robust capital appreciation values for the surrounding of the MRT Line 1 in July 2017, properties. more purchasers, especially Aziz feels that the open-end stations of a rail line bear an added edge as there is working professionals are more room for capital growth, thus his faith in Kajang’s high growth tangent. Also turning their attention to taking into account how property development in the Klang Valley is gravitating southwards, Kajang is on track to progress further as a residential hotspot. Kajang, which is now served by 4 MRT stations.

• Bukit Dukung MRT: As it is Kajang has all the makings of a self-sustained township. It is home to numerous higher education institutions such as New Era College, Located at Sungai Balak Universiti Kebangsaan Malaysia, University Kuala Lumpur Malaysia France interchange of the Cheras Institute (UniKL MFI) and the German Malaysian Institute. – Kajang Expressway (E7) Residents can satisfy their shopping needs at the Metro Point Mall, Kajang and Kajang Dispersal Link Tesco Extra and Giant hypermart whereas hospitals in the area include Hospital Kajang, Kajang Plaza Medical Centre and KPJ Kajang Specialist Expressway ( SILK). Hospital. Kajang’s appeal explains why developers have been flocking to the area • Sungai Jernih MRT: in recent years. New transportation infrastructure coupled with a strategic Located at the Saujana location on the outskirts of the KL city centre promises high property Impian interchange of E7 and demand. In addition, Kajang is surrounded by the budding neighbourhoods of Semenyih and Bandar Baru Bangi; further boosting its growth value. nearby KPJ Kajang Specialist Hospital and Tesco Kajang.

• Stadium Kajang MRT: MKH Berhad, a prominent developer in Kajang is planning to build the area’s Connected to Kajang Stadium biggest mall yet. To be located within the Kajang 2 Township, the mall will be built in the town centre. nearby the Kajang MRT station. Aziz also commented that MKH Berhad will be teaming up with PR1MA Corp Malaysia to jointly develop a mixed-development project on a 8.22-acre land situated nearby the Kajang MRT station. The • Kajang MRT: RM464 million venture will offer 1,200 stratified residential units which will be Located 1km south of the complemented by a commercial area measuring approximately 42,000 sq ft. town centre. KLites are slowly realising Kajang’s value as a residential address. The area is not as fast-paced and hectic as Kuala Lumpur and yet the city centre is easily accessible with the recently improved connectivity. An added boost is the newly opened Bandar Baru Bangi-Kajang 2-Bandar Teknologi Kajang flyover. The toll-free road is a You can now easily search for huge relief as it will help ease traffic congestion in the area. the latest rental and investment Aziz shared that there has been a growing demand for G&G developments as opportunities in Kajang via the security is now a top factor for many homebuyers. In alignment with this demand new iProperty.com Malaysia app. for wholesome, family-conducive homes, some developers have recently launched This combined search platform attractive G&G developments within Kajang. For instance, the Semanja Kajang enhances the property-hunting township is offering double storey link homes priced from RM856,800 onwards experience as it churns out new while Ridgefield Residences townhouses in the Tropicana Heights Township are developments and sub-sale going for RM846,000 and above. properties side by side while allowing consumers to shortlist and save their favourite properties. Download the app for free from the Apple App Store or Google Play Store.

54 55 RESEARCH DATA

“New transportation infrastructure coupled with its strategic location on the outskirts of the KL city AZIZ AHMAD Previously an engineer, Aziz is centre promises high housing now an experienced real estate negotiator, property speaker and author. He also blogs at his property demand in Kajang. ” portal, Hartanahguru.com. Connect with Aziz Ahmad here: www.hartanahguru.com

Current area demographic

2016 Population 2016 Ethnic Breakdown

Based on the population Nevertheless, this does not which are apartment units going for demographic, Aziz believes that the mean that high-rise property will be RM385,000. property demand moving forwards completely sidelined. Units priced Meanwhile, those looking for will mostly be driven by the Malay between RM400,000-RM600,000 is rental opportunities can consider ethnic group. Many Malay purchasers expected to continue registering healthy the following projects which will be will invest in homes for their own demand. Already, such products are completed either this year or early next stay and most will gravitate towards being introduced to the Kajang house year – Saville Condominiums @ Kajang landed homes. Aziz expects that market. Examples include the Mahagony by MKH Berhad, Oasis 1 Condominiums more homes within the affordable Park apartments by Sime Darby with @ Mutiara Heights by TLS Group and range will be launched in the next prices starting from below RM500,000 The Louvre serviced residences by few years to cater to this demand. and KEB Group’s Palm Hill Residences, Paris Dynasty Land Sdn Bhd.

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.

54 55 Penang’s present and future in a snapshot

Although it may seem that the Pearl of the Orient’s property prices may have come to a crawl, Ken Lim, the founder of penangpropertytalk.com says there are still plenty of opportunities abound. He shows the Property Convention 2017 - Penang Edition’s audience factors that influenced these changes and where the opportunities lie.

- MIRA SOYZA

Hailed as one of the most expensive exceeded Penang Island despite the lowest number of property states to purchase a real estate in the downtrend, which indicates that transactions in Penang’s history in Malaysia, Penang market may be there was a shift in the lay of the land the last two decades. Which begs the slowing down but has not lost its of the market in terms of pricing, question: What is the future of Penang appeal. Since Q1 2014, the number population density and demand. Fast properties? of transactions in the mainland has forward to this year, Q1 2017 recorded

Penang Island

Island market trends for condominium from Q1’14 to Q1’17

As Penang Island is divided stagnant for quite some time; the throws the balance between supply into two districts, Northeast and Northeast region such as Batu and demand off and suppresses Southeast, there is a noticeable Ferringhi, Tanjung Tokong and Ayer the market value of these difference in the price appreciation. Itam, however, is still experiencing condominiums. However, the price Upon observation, you will notice appreciation. Lim concluded appreciation in the Northeast region that condominium prices in the that this is due to the influx of shows that people are still willing Southwest region such as Bayan affordable housing in the range of to pay for this price tag in those Baru and Sungai Ara have been RM300,000-RM500,000, which upscale areas.

56 57 POINTS OF INTEREST

Mainland Penang

Mainland market trends for condominium from Q1’14 to Q1’17.

The mainland consists of three side have been seeing a steady have shifted towards the mainland districts, central, northern and appreciation; the same applies to and the snail pace of the overall southern. There is no concrete houses in the terrace and semi- property market is due to the data recorded on the southern detached segment. In general, public’s selectiveness with buying in region of the mainland, however there is an uptrend throughout the the current market. condominiums on the northern region, which proves that interest

Below is a snapshot of prices of properties in Penang based on PenangPropertyTalk.com’s top 20 most visited projects in 2017:

PPTalk Hot Spots

“The key take away here is that as long as you have the right product, at the right location, marketed at the right price tag, there will be buyers,” says Lim.

56 57 POINTS OF INTEREST

Demographic catalyst that boosts property market To answer the question of whether and with only 1% of population growth can Penang become the next per year, it will take Penang about Singapore in terms of property prices, 105 years to get to where they are. If Lim pointed out that population you’re able to identify the areas that density is a major factor that have the highest population among contributed to the sustainability of the the five districts in Penang, you will be prices there. Spread across 1,031km2 able to determine the right location to of land, Penang is 30% larger than buy; the Northeast region of Penang Singapore with a population density and Seberang Perai Tengah are areas that is four times smaller at only 1,600/ with sustainability power due to their km2. Population size is a fundamental population size. Penang’s population distribution.

Accessibility & Location proposed projects are North Coast in the highly-populated areas Accessibility and location are two Pair Road, PAN Island Link 1 (that links dispersing to cheaper, lower density factors that greatly affect population Gurney Drive to Ayer Itam and Bayan areas,” Lim adds. “The proposed LRT density. Currently there are several Lepas), LCE Expressway-Air Itam line will help boost prices and demand proposed highways and public Bypass, George Town Inner Ring Road for developments that are within transportation plan that will potentially and Bayan Lepas LRT. proximity of the stations.” improve accessibility to certain areas “Once these connections are and drive prices up. Some of the completed you will see the population

Catalyst Projects

Iconic projects that are coming up in Penang.

On top of that, there is a total of 12 and internationally and this will affect “Batu Kawan for example is a new iconic projects coming up earmarked people’s sentiment about them. Once brand in the making. With its proximity as catalysts to the development of these locations boom, you will see the to Second Penang bridge and the influx the areas they are located in. “These population dispersing and moving into of township development by reputable new developments will become the these areas,” shares Lim. developers, it is set to become another branding of that location both locally branded location for Penang.”

58 PB POINTS OF INTEREST

THE LAW OF INTESTACY: Till death do us apart?

Jocelline Chee, Senior Estate Planner of Rockwills Trustee talks about the grim topic of death and how it affects an owner’s rights to a property, and the importance of leaving a will or trust.

- MIRA SOYZA

Time and time again, property we often overlook or generally avoid investment has been touted as a fool talking about – death. proof plan to early retirement and a Agreements that are as such, while guarantee to our future generation’s beneficial to buyers who are looking financial security. Most investors spend to borrow someone else’s credit a lot of time and effort gathering score, may create complication in data on the right locations, price the event of the title owner’s death. appreciation, and looking for the Since in the eye of Malaysian law, only lowest interest rates offered by banks. the owner whose name is registered In the event of a tightening of lending in the Sales & Purchase agreement policy, some goes the extra length to (S&P) is recognised as the owner of beat the system by either purchasing the property (legal owner), the rightful under a joint tenancy or merely titling owner who has been paying for the a property in someone else’s name. property losses his or her whole right While this is all well and good, there is to it. one aspect of owning a real estate that

PB 59 Under the “intestate succession” have wanted or create complications laws, when a person dies without a for the unconventional ownership will, his or her assets will be passes arrangements. In such cases, it is on to the closest relations; in other important to have either a will or a trust words, the state will make up a will for in place. you and decide who gets a portion of your share. “In cases where a person The difference between ‘will’ and dies without a will or trust, the law of ‘trust’ intestacy will decide who is the legal Will and trust are both useful estate beneficiary,” explains Jocelline Chee, planning devices that serve different Senior Estate Planner & Area Licence purposes, and both can either work Service Centre of Rockwills. separately to serve specific conditions While the purpose of intestate or together to create a complete estate succession statutes is to distribute plan. By having a will or trust in place, the decedent’s wealth in a manner the rightful owner will have the peace that closely represents the average of mind of knowing that his or her person’s design of his or her estate interests are protected and that the plan, it either differs dramatically property invested will benefit his or her from what the person really would family members.

WILL TRUST Goes into effect only after you die Takes effect as soon as it’s created Involves a legal representative that Can be used to begin distributing directs who will receive your property at property before death, during or your death. afterwards. Covers any property that is only in your name when you die. Property held in Only covers property that has been joint tenancy or in a trust will not be transferred to the trust. taken into account. The court oversees the administration of Does not require a court to oversee the will and ensures the will is valid and the process, it passes outside of the property gets distributed according probate public record, a trust can to the deceased wishes. remain private. Becomes part of the public record. A trust remains private.

60 61 POINTS OF INTEREST

CASE STUDY ONE CASE STUDY TWO share will be distributed among her Richard purchased a condominium Punitha, a mother of three, purchased siblings, who are automatically entitled unit with his wife, Brenda. Both of their a property on behalf of her brother, to a small portion of that share. names are registered in the Sales and Ananth, a father of two children. While Purchase Agreement, however, as the her name is registered under the S&P, Solution: Trust bread winner Richard is the only name Ananth takes on the responsibility of A will can be changed secretly without on the mortgage. If Brenda were to die, paying for the down payment and loan the knowledge of anyone, while a would Richard get the full rights on the repayments. In the event of Punitha’s trust is binding and can’t be changed property? death, who will get the rightful share of without the consent of Ananth. Create the property? a trust that names Ananth as the Problem: beneficiary and substitutes his wife and Theoretically, they both have equal Problem: children as beneficiaries if he dies. rights on the property since they were In the eye of the law, Punitha is the beneficial joint tenants at the time of legal owner of the property. Without CASE STUDY THREE death. However, in the eye of the law, a will, in the case of her death, Yusoff who is married with 2 children if the wife passes away the husband the property will be frozen and bought a piece of factory land in will only be entitled to 25% of her become part of her estate and will Seberang Prai for investment purpose share of the property. Under the law be distributed according to the Law with his business partner, Chan of distribution, 25% of the share will be of distribution order. In the case of who is married to a foreigner, with given to her husband, the parents of Ananth’s death however, without a will 2 children. Both Yusoff and Chan’s the deceased are entitled to 25% while in place, the law does not recognise his names are registered in the S&P and the children will receive 50%. rights on the property. the mortgage loan instalment is shared Without a will, according to Rules of among them through a joint named Solution: Will Intestacy, Punitha’s spouse is entitled bank account. They planned to sell Brenda should write a will that states to 25%, her parents 25% and her the property within five years. But 50% of the property that is registered children are entitled to the remaining what happens to Chan’s share of the under her name should be given to her 50% of the property. If the parent of property if he dies? Can the remaining husband, Richard. the deceased is no longer alive the 25% partner still sell the land to the market?

Answer: If Chan were to die without leaving a will or trust, the property will be frozen and become part of his estate. According to Rules of Intestacy, 25% of his share will be distributed to his wife while the remaining 75% will be shared by his children equally. His wife will not be able to sell the property without his partner, Yusoff’s agreement and vice versa.

Solution: Trust Chan should set up a property trust that allows the investment to be bought or sold, thus the investment interest is protected as there is a guarantee return of investment.

60 61 The effect of INFLATION on housing prices

It is not escalating property prices that we should be worried about – its inflation. Consumers seeking financial prosperity should look at the bigger picture and find ways to hedge against ballooning inflation. - KHOW TENNSUI, DATA SERVICES, iPROPERTY.COM

Money as we know it has evolved considerably over the years, the idea of a currency stemmed from the barter system when people begin to trade excess goods with one another. For example, a fisherman would trade his extra catch with a farmer who has wheat to spare.

How inflation came about well as value in their use as money. Governing authorities began minting This system has a distinct limitation The first forms of commodity money coins out of gold whose value was though, it does not work when there is included livestock, salt and shells. determined by weight. Over time, some a clash in wants; e.g the farmer might But then, people found it difficult to parties figured out that by utilizing want fish, but the fisherman does not divide these commodities equally and less gold for that same coin, they will want wheat and is demanding butter they do not really last – one cannot be able to create more money. Hence, instead. divide a cow equally into two or three began inflation which is loosely defined This roadblock led on to the birth of part and salt could dissolve easily, as the hand-in hand occurrence of a commodity money, which is defined as hence one cannot hold onto it for long. general increase in prices and fall in the objects widely accepted as a medium After some time, these monies were purchasing value of money. of trade and is recognised by all (in then replaced with more solid objects, When the amount of existing gold a specific area) as a currency. These i.e precious metals such as gold and remains unchanged but the numeric objects have value in themselves as silver. value of currency increases, the value

62 63 RESEARCH DATA

of said currency will drop. This is a (money) but a constant limited supply classic case of more is not necessarily of another good (homes), the latter will better – the dilution of an asset will only definitely be more valuable than the result in a depreciation in value. former, thus pushing up the prices of An example of such an incident homes even more. occurred in 1931 when Great Britain This theory applies when we take abolished the gold standards and into account the local housing market’s the whole world followed suit. By current status quo – it is not as though unpegging the pound to gold, Great home prices have escalated drastically Britain gained full control over the in the past decade, it is mainly because printing of money. Now the value of the value of our currency has been on currency is no more dependent on the downtrend. something tangible but instead relies It is no surprise that Bank Negara on the supply and demand of money. Malaysia (BNM) 2016 report states The idea of money has further that the compound annual growth rate evolved in recent years – in this digital (CAGR) for home prices between 2012- age, we even have virtual monies 2014 (17.6%) was 2.5 times more than where money could be wired or the GAGR recorded in the 2007-2009 transferred easily online. These days, period (5.1%). money supply is controlled by a central On the other hand, the real value of bank’s monetary policies which include residential properties has continued to the adjusting of reserve requirements, increase as we have a limited amount interest rates, government bonds, and of land. Land scarcity coupled with the so on. growing population further aggravates the demand for housing. What is the correlation between the From 1999 to 2016, we have seen our 1 value of money & home prices? M3 money supply, also known as broad It can be said that whenever there is money, increasing by 304% while an increase in the supply of one good housing prices more than doubled, prices increased 160%. Malaysia’s Housing Price Index (HPI) for Q42016 stood at 243.3 (base-year 2000). However, when adjusted against the Consumer Price Index (CPI), this figure dropped to 176.6. It is interesting to note that the HPI has barely doubled in 16 years its values when adjusted for CPI, it has not exceeded 20% in appreciation from 1999 to 2008. In fact, the adjusted HPI experienced a drop in value in 2008; it was only in the past 7 years have the adjusted HPI seen a more aggressive rise in values.

1M3 includes physical cash circulating in the economy, current and savings accounts, fixed deposits, institutional money market funds (funds that invest in Government bonds and private-sector securities), short-term money market loans (used for borrowing, lending, buying and selling for terms ranging from a few days to under a year) and other larger liquid assets.

62 63 RESEARCH DATA

The graph below showcases the 1) It took 10 and a half years for the was mainly due to the global quarterly change in the HPI and M3 housing price to fully adjust to the economic slowdown in 2008. Money Supply. As depicted, the shocks of the money supply. Only in 2009, did the HPI aligned money supply is leading the trend in 2) The money supply is accountable to the increase in the M3 money most cases, though in some cases it for 40% of the change in home supply takes time for the prices to adjust. prices. 4) However, there were a few short- When analysing the effects of the 3) The M3 money supply increased term shocks of the M3 trend in M3 money supply against HPI, some in 2003, however the HPI’s overall 2006, 2008 and 2009, causing of the notable effects observed trend remained constant. This the HPI to dip as well. were:

Quarter on quarter % change trend NOTE: smoothing 4-period moving average Source: M3 Money Supply-Bank Negara Malaysia, HPI-Napic

As observed, house price move hand in hand with the money supply, this proves that real estate makes a good hedge against inflation.

Conclusion hedge against inflation; some buy economy. Zero or negative inflation Increasing the supply of money is not properties, some purchase stocks or (deflation) can lead to a depressed without its consequences; someone bonds while others place their cash in economy. When the real value of will have to bear the cost of this Fixed Deposit accounts. money increases, people tend to hold phenomenon. All these activities mean while onto their money and restrict their There is a cost for holding money, further push up the prices of said spending. And a stagnant economy as the saying goes, “a dollar today is investments. Nevertheless, inflation will cause a decrease in prices, which worth more than a dollar tomorrow”. is not totally a bad thing, it is domino effects would be a decrease in Hence why many look for ways to necessary for the stimulation of the production and consequently higher unemployment.

DISCLAIMER: The opinion stated in the article is solely of Khow Tennsui 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

64 PB HOME & PROPERTY FAIR Sunway Carnival Mall, Seberang Jaya, Penang 18 - 22 Oct 2017 | 10am - 10pm

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ipropertymalaysia ipropertymalaysia iproperty_com myiproperty LEVEL 1 Rule of thumb The Rule of Thumb level helps LAND FEASIBILITY STUDY you to quickly identify the cost or numbers related to a particular type FRAMEWORK - Part 1 of development given a particular type of land. In other words, you will Land expert, Tan Hwa Chuan shares an excerpt be able to immediately conclude if (Chapter 5) from his book, “Make Big Money Via Land”. Land A is worth building a row of link Tan explains the necessary due diligence investors houses even without stepping on site. should carry out when considering land investment using The basis is to firstly understand this formula: his very own 10-step feasibility framework.

GDV or Gross 100% Development Value From this chapter, you will learn to the success and failure of a project, TCC or Total 40 to 50% methods of analyzing a piece of land how do we then conduct a feasibility Construction Cost for development, the methods in that is effective? What are the practical Land Cost 10 to 20% conducting feasibility study and how to ways to study a piece of land? How Profit 20 to 30% ascertain a good return on investment. much is not too much to study since Before we begin, let’s first look at a over analysis leads to paralysis? From the formula above, we can see typical project life cycle in the world In my learning years and right up that GDV is the total sale value derived of property development. Every step to my development exprience, I have from all the monies put together in the cycle is just as crucial to the come across quite a few feasibility including profits for a particular viability of the project. The steps in the study methods being used by different project. project life cycle are: people and companies. Every model Total Construction Cost on the other has its own strengths. Sometimes it is hand is made up by more than one Feasibility study also due to familiarity. They however item. Its costs differ based on the type share a common ground and I’ve of property being built. Here are some Design compiled them here as my personal of the typical costs for construction 10 Level Feasibility Study Framework. based on year 2013/2014: Statutory approval I have used this method in all my projects successfully and they have 1 Link House = RM150 per square foot Marketing & sales proven to be effective. The 10 Levels 1 Semi Detached House = RM180psf are: 1 Bungalow House = RM250psf

Procurement management 1 Shoplot = RM100 to RM150psf Level 1 Rule of thumb 1 Shopping Complex (Mid Valley type) = RM400psf Construction management Level 2 Basic data study * prices may differ based on actual market conditions. Level 3 Site visit Completion, operation & maintenance Level 4 Market study 5- 1 Project life cycle Here’s what you can typically build in a Level 5 Local government checking one acre of land: Feasibility study kick starts the • 12 units of Link Houses or Shoplots or Level 6 Land office checking project as the first and most important • 8 units of Semi Detaches Houses or step. This is where lands are evaluated Level 7 Jupem • 4-6 units of Bungalows or 60 to based on the size, numbers, price, 80 units of Condos (eg Mont’ Kiara Level 8 Frequent site visit location, type and the various about 70 units per acre) depending surrounding factors. It is at this very Level 9 Layout planning on local government or step where we determine if the land is • Plot ratio of 5.2 in Kuala Lumpur and Level 10 Financial analysis worth exploring. Considering there are 4 to 5 in Selangor depending on local so many factors that can contribute 5-2 Feasibility study framework checklist government

66 67 BOOK EXCERPT

LEVEL 2 Basic data study Let’s take a look at each item a little b. Project Showrooms Nearby At this level, we will be studying closer. A visit to the nearby project the map where the subject land is showrooms will help us to understand located, its topography, population a. Accessibility what our peers are doing. We’ll also get demographics and its surroundings i. Existing Access to see the press clippings, products on characteristics to achieve a basic Having a good understanding of the offer and their pricing. estimation for the feasibility. In other traffic flow will enable a better analysis words, if an agent or land owner comes of the subject land. c. Position of Sun to offer you a land, what documents do We need to identify where the sun you require? Here’s the checklist. ii. Legal/Permanent Access rises from and where it sets to i.e. east This points to the actual permissible and west. This is because west facing Basic data checklist and legal access as provided by the properties will be more difficult to sell. • Land size Planning Department and the Land To overcome this, we need to put in • Land title tenure or type eg Office. From here, you will be able to more effort in the planning and design freehold, leasehold see things such as the government e.g. smaller units, deploying a shade- • Location map road reserve. mechanism, selling west facing in • Land gradient or contour land phase one because it is the phase with • Accessibility and infrastructure iii. Construction Access the speediest sale rate. • Surrounding eg townships, We need to identify where the projects etc construction vehicles will be coming in d. Terrain • Distance to amenities from. We also need to ensure their exit The natural terrain structure is also paths are not dangerous e.g. children a factor for development. The slope playing nearby increases the risks of structure will determine if the land is For a sample of conducting Basic accidents. allowed for development. Generally, Data Study, please refer to the Kajang when a land is easy to walk on or climb, case study in Chapter 4. iv. Showroom Access it should be classified as Class I or II by This is an important access because the Ministry of Natural Resources and LEVEL 3 Site visit this is where the clients make their Environment (Kementerian Sumber Not every land requires a site visit at way in to buy the properties. As such, Asli dan Alam Sekitar). This should be the beginning stage. Those with poor it is important to have a direct access easy and good for development. But numbers or data to show from the first where the showroom will be well if the slope is quite a challenge to walk two levels can easily be disqualified. exposed to the public’s eyes. on or even climb, then we will need a To have come this far, you’ll be setting land surveyor to produce a contour your eyes on the physical environment v. Future Access plan. This will help us identify spots of the subject land. We also need to identify if there that need cut, fill or level to smoothen Your primary aim when at the site is are new access in the plans by the the access to the subject land. The to ascertain if what you have compiled government. This is important because Ministry classifies terrains into four in your basic data matches with what a good access will give appreciation different classes as follows: you see. Here are some of the things to the land value. For example LDP you should be looking out for when (Lebuhraya Damansara Puchong) i. Class I visiting on site: made Puchong highly accessible and A terrain, natural and otherwise, of not in turn boosted its property value, MEX more than or equals to 150. Generally Site visit checklist (Maju Expressway) provided a good this would be easy to walk on or climb. a. Accessibility access to Equine Park and Setia Alam b. Project showrooms nearby Link connecting NKVE (New Klang ii. Class II c. Position of sun Valley Expressway) on the east and The slope in this class may exceed or d. Terrain Jalan Meru Klang on the west to make equals to 150 but not more than 250. e. Infrastructure the Setia Alam township convenient to Generally this would be easy to walk on f. Soil condition the people travelling to and from both or climb but slightly more challenging g. Flood prone or zone and water sides. than Class I. streams h. High tension cable i. Grave yard or cemetery

66 67 iii. Class III also determines the piling cost during i. Grave Yard or Cemetery The slope in this class may exceed construction. This is where we engage Again, like high tension cables, people or equals to 250 but not more than the geotechnical and the civil and generally do not like buying lands near 350 and without any signs of erosion structure consultants to come and or adjoining grave yards or cemeteries. or instability. Development to be conduct an analysis. From their report, However, prices of such lands are often conducted in this class requires an we can then determine the cost for the much cheaper and would go at below Environmental Impact Assessment various works necessary for the soil. market value. Although residential (EIA) to be done and to then For example, laying the foundation, is something which will be affected subsequently obtain the approval of piling, soil treatment etc. by the presence of grave yard or the Department of Environment. In cemetery, commercial properties will Selangor, developers in this class will g. Water Streams and Flood Prone Zone not see this as a problem. In fact, some also need the approval from JTPKSAS Here you might want to check the flow of the important landmarks in town (Jawatankuasa Teknikal Pembangunan of the water streams to see if they are were built not far from such places. Kawasan Sensitif Alam Sekitar) Negeri present at the site. If there is indeed They include KLCC, Menara Public Selangor. JTPKSAS will assess the water streams, you may like to identify Bank, Renaissance Hotel and Maya overall development plan including what is the water movement like and Hotel both on Jalan Ampang in Kuala the geotechnical analysis of the how will it affect the development. Lumpur. subject land and environmental impact To get a detailed view, you can verify assessment of the development. it further with the Department of LEVEL 4 Local Government Irrigation and Drainage Malaysia Things get a little more interesting here iv. Class IV (Jabatan Pengairan Dan Saliran as we begin to check on the rules and The slope in this class may exceed Malaysia). It is also here where you can policies stipulated by the government or equals to 350. Requirements for ascertain if the water stream can be pertaining to the land. In this step the development under this class diverted to make way for development. of the study, we will be visiting the is similar to Class III where it would To identify if the subject land or its Planning (or Perancang) Department, require an Environmental Impact surrounding areas are prone to flood, which is the key department we visit Assessment (EIA) for the approval the easiest way is to either ask the frequently. Other departments we by the Department of Environment. people who are living or working there, also visit include the Infrastructure In Selangor, developers will need or to look out or the residual water departments and the engineering the approval from JTPKSAS Negeri mark. departments. Selangor. Some of the information that h. High Tension Cable can be obtained from the Planning e. Infrastructure Generally people tend to refrain from Department are: The availability of infrastructure such as buying a land near high tension cables. water supply, electricity and drainage Buying this land for development Local Government Checklist may also work to your advantage as will immediately exclude a big pool a. Zoning efforts to commission such services of buyers who believe in feng shui. b. Density restrictions would have been reduced. But our However, the Muslims and Christians c. Plot ratio main duty here would require us to may not see this as a problem and will d. Height control identify the source of our provider. proceed to buy properties built on e. Setback For example, checking with Syabas such lands. Nevertheless, we can still f. New Submission for water. But what if we don’t. Then use such lands to build non-residential g. Access we may ask ourselves, what if the type of projects on it. For example, h. Carpark Requirements land is not connected to any water you can use it as a carpark using the i. Government Charges infrastructure or its source? Can we go Temporary Occupation Licence or as a on to develop the land? garden to a neighbourhood such as the one at Rafflesia by MK Land Berhad in a. Zoning - the designate purpose f. Soil Condition Damansara Perdana. It was priced at of the said land such as industrial, Quality of the soil such as rock, clay RM1.5 million during launch in 2010 but residential, agriculture, commercial etc or lime will play a role in determining it has since increased to RM2.6 million are listed and described in the Local if the land is suitable for construction in 2014. So it’s not true that you can’t Plan. and development. Quality of the soil buy near high tension cables.

68 69 BOOK EXCERPT

b. Density restrictions – the allowed the rule stipulates that for every maximum number of units for every apartment, two carparks are set as the acre of land. allowance with a 20% factor for visitors. As such, for every unit of apartment c. Plot ratio – the allowed maximum in the development, it is entitled to 2.2 built floor area for every acre of land. carparks in total. There can be a plot ratio for with and without car park for the subject land. i. Government Charges – this For example, 1 acre in KLCC can build involves the charges as incurred for 10 acres of gross floor area. development. This is also known as Caj TAN HWA CHUAN Kemajuan. Other fees that may incur in d. Height control – the allowed the development include the Planning Tan Hwa Chuan is a property maximum height of the proposed Fee, Improve Service Fund for the developer, investor and advisor. erected building. For example, along purpose of roads and drainage (more He is the Director of B.I.G Group Jalan Ampang is restricted to 20 details for this in Chapter 6 Applying of Companies, an organisation storeys, Ampang Hilir is 10 storeys and the Feasibility Study). specialising in property 5 storeys in Jalan U-Thant. These are development, investment, real usually measures incorporated for the The above set out some of the estate advisory and mergers safety of the flight path. crucial information as guidelines for and acquisitions of land for your potential project. It is therefore development. In the trade for over e. Setback – this usually refers to highly recommended for those serious a decade now, he spots, maps, the distance of the building from the in this business to firstly get a hold of studies, analyses and develops roads. For example in Selangor, the the Local Plan. Beyond information land into address of opportunities. rule is to have the building standing on the subject land, the Local Plan As a property developer, he is the at least a 40’ away from the highways will also indicate if any development director and shareholder of several or mainroads and about 20’ from submissions have been admitted to the companies and his projects are the neighbourhood roads. This also department before, size of compulsory scattered throughout Klang Valley depends on product type and different vacant space for the subject land, in areas such as Setia Alam, Seri for every state government. future development within the vicinity Kembangan, Puchong and Taman and location of the public facilities such Melawati. Tan can be reached at f. New Submission – we need to know as the mosque, school, recreational [email protected] this because as a business, it’s good to park etc. Each Local Plan is priced always know who else has submitted from RM155 to RM1,000 and subject their development plans around the to change by the respective Local subject land. This way we’ll know what Government. c. Indah Water Konsortium (IWK) – for the supply will be in the area. It helps us Next we will be visiting the sewerage infrastructure requirements to know if there’s an oversupply that’s Infrastructure and Engineering coming on stream. Departments to obtain the following d. Jabatan Pengairan dan Saliran information: (Department of Irrigation and Drainage g. Access – from the Planning Malaysia) – for water irrigation and Department, we will be able to know Infrastructure and Engineering drainage infrastructure requirements the status of some of the lands near Departments Checklist: us. For example, we will know if a land a. for land clearing permit and retaining e. Tenage Nasional Berhad – for power has been surrendered to make way for wall requirements. This is where we go substation within the subject land. The a highway or expressway construction to obtain the earthwork permit as well. requirements are usually advised by the such as one of the hot topics in the mechanical and electrical consultants. market now, the Kinrara-Damansara b. Jabatan Kerja Raya (Public Works The charges is typically about MR450 Expressway or KIDEX. Department) - for road infrastructure per unit and the amount is payable to such as traffic light requirements, Tenaga. h. Carpark Requirements – the service road requirements, interchange requirements for carparks differ from requirements etc. f. Syabas – for water supply in Selangor. state to state. In Selangor for example, * The second half of chapter 5 will be featured in next month's issue.

68 69 7 STRATEGIES to leverage on property to build profitable businesses

KC See’s latest book ‘PROPRENEUR’ of the MasteryAsia Property Series provides readers with seven strategies on how to leverage on property to build profitable businesses.

Food & beverage operators Leasing-out your premises to an F&B operator is common practice. The landlord can even participate by being a JV shareholder, by offering lower rent in exchange for a percentage share or charging higher rent for bearing certain renovation costs. However, bear in mind the general census that 80% of F&B operators in Malaysia close shop within 2 years. Its best to avoid amateur operators or new-kids-on-the-block. Functionally, KC See is the founder of the Quest these operators are rather inexperienced; they learn and improve their Group, which helps organisations operations through everyday trial and error. If an amateur operator decides to and individuals improve their vacate shortly after, you will not only be left with the problem of leasing it again, performance, productivity and but may also face issues with the property’s vacant condition, as well as multiple achieve higher profits. He is also non-property related issues created by the tenant. the founder of the Money Mastery Ideally, it is best to look for an elite operator; well-established and experienced Mentorship programme, which began ones. They may have a chain of shops, be a famous multinational brand, or could in 1997, and which has helped develop even be a single-shop operator which has been around for a number of years. well-known names in the local The safety and security offered through elite operators provide a greater chance property investment today. of a successful long-term lease.

70 71 POINTS OF INTEREST

Virtual & serviced offices Capsule hotels out, mechanism-efficient, trusted and Virtual offices are catered for those Capsule Hotels, because of their successful online platform to book who do not need a physical office convenience, low price-point and accommodation the world over. nor its facilities. Instead customers relative no-frills experience, has been just require a business address, and flourishing in recent years. Although a Themed hostels possibly supplementary services barebones and budget experience, this Providing a difference by way of such as for receiving calls, mail type of accommodation seems to suit providing a special theme for shared and packages. Serviced offices the simple needs of the solo traveler, accommodations of a hostel enlivens have physical office spaces, along backpacker or officer-on-a-business- a place and creates interest which can with facilities for use. They come trip just right. better generate bookings. As shared fully furnished, inclusive of utilities, Low barriers to entry into this sleeping and living spaces, a thematic maintenance & upkeep. business is a significant motivator. experience though interior design They may even include value-added Comparatively with traditional and visual elements create a stylistic services such as IT infrastructure, accommodations; set-up costs are look and feel for a memorable stay broadband and phone systems, lower, there is no need to apply for a experience. factoring in all overhead costs. Three special license, set-up period is shorter, Internet marketing through social compelling reasons for setting-up and you offer the best of both worlds media, reviews and word-of-mouth virtual and/or serviced offices are that: with a small yet private space to sleep – are key drivers that can become It is a means to generate recurring and very affordable too. viral. Partnership with groups such income; you have no inventory costs, as educational institutions, clubs and and which; provides for a recession- associations are also highly beneficial, proof business, due to the constant Tourist attractions and these could also have been need for low-cost office space. As a creative way to capitalize a space, motivated from the hostel’s ‘themed’ turning it into a tourist attraction has accommodations. always been a lucrative business. Setting your tourist attraction apart, After-birth care facilities making it special and unique is key After-birth care facilities provide to generating interest. A tourist for an innovative and unique niche attraction, although seemingly catered for creating income from property. to foreigners, surprisingly attracts a Confinement is a common practice in significant bit of local interest too. Asia where new mothers observe a period of confinement of 28 – 44 days after birth, to properly rest and nurture AirBnB themselves back to health. It is a strong possibility that the returns As the trend from having a live-in from running a AirBnB accommodation confinement lady shifts to staying in a can be more lucrative then just confinement home grows, so will the renting-out the property in a long- need for this innovative and unique term lease. With AirBnB’s tried and niche market business. At this current trusted platform, many niggling doubts time, there are more mothers-to-be have vanished, as it has become by chasing after places in confinement far and large, the most well thought- homes then there are available places.

DISCLAIMER: The opinion stated in the article is solely of KC See 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.

70 71 Book right -

Heng Zee Soon runs a property investment company and is also a certified personal Right from the start trainer. With over 20 years of experience Heng Zee Soon shares 5 tips on why we should pay in creating wealth through property attention at the booking form stage. investments, his interest includes commercial and residential properties.

Although just a moment in time, filling-out and submitting the booking form to best protect your interests as a property buyer is vital. And ultimately, it is your own responsibility to ensure that the property you purchase and receive, meets your best expectations.

Give yourself ample time problems with finance – there may still It is normally stated on the booking exist the very real possibility of rejection. Subject to 90% form, you are given (14) working days Many factors are analysed by a bank in loan approval to secure the property with a bank loan. granting a loan, and even the oddest bit Do try to extend this period as long as of irregularity can call into question a As a conditional note possible in order to give yourself ample loan application. of sale, it is advised to time to shop around for the best loan Taking measures to protect yourself state that: “I will buy this for yourself. so that your interest in the property is property subject to 90% It is not uncommon for a period of secured with the seller, as well as not lose (21) working days to be granted, and in your 2% earnest deposit if the loan is loan approval.” Doing some instances, developers have been rejected and the booking form void; can so will further protect seen to grant you up to (30) days. be nailed-shut on the booking form itself. yourself so that the 2% Do note however that the developer For the name, it is advised to put earnest deposit if the has no obligation to do so, and when down “your name” as well as “or loan is rejected and the a property is selling like hotcakes, they nominee”. Legally, this is perfectly booking form void; is to may not grant you a time extension. But acceptable. This addition will ensure it is certainly worth a try to have more that selection of ‘ownership name’ is of be refunded. As a side time on your side. your choosing. note, even if you are not The title could then be to your looking at full leverage Your name + “or nominee” spouse; who has managed to secure the of a 90% loan, putting When applying for a loan, there is a loan whilst your application has failed, or this down offers you fair chance that even if your income is in the instance where a consensus has the option to rescind steady and significant, no red marks been reached for the joint ownership of the booking form and on your record, nor have you had any the property. retrieve the 2% earnest deposit – if you so desire.

72 73 POINTS OF INTEREST

List, number & describe all Can a lawyer help? first to initiate matters straight from the furnishings & fittings It is always best that you attain legal booking form and earnest deposit stage. Providing a safety-net as to what is services of your independent nomination By having done so, whether you are a to be expected of the property and for the singing and stamping of the SPA novice or an old hand – would allow you its contents, it is advised that you: list, agreement, and the handling of any all that safety-net in dealings; in having a number and describe all furnishings and monies to the agent or developer. confirmed witness for (signed in front fittings of the property in the Condition As an area where prevention can become of the lawyer), by having a trusted of Sale section of the Booking Form. the key to safety, security and peace and knowledgeable proxy handle your Ultimately, once a sale has happened, of mind, you could even go one step affairs, and which you have passed on and you find yourself in a position further; in that if you are keen to acquire the responsibility of sale to ensure the where certain items may be missing a piece of property, go to your lawyer transaction is in your best interest. or replaced with inferior items-in-lieu, and there is no statement to prove your purchase claim in entirety; it is only you who suffers. Two of the best ways to come out with this content is when conducting your visit to the unit: Take as many photographs as possible of all the areas of the unit, and don’t forget to take a slow movement comprehensive video of every room in the property; 360* as well as the ceilings and flooring. Time will only soften your memory of the brief visit to the unit, and the evidencing done on your part here will act as the reference source when creating this content.

List, number & describe any & all defects to be rectified Likewise, as with any defects with the property, it is advisable to list, number and describe them in detail in the Condition of Sale section of the Booking Form. Often times forgotten about in the rush to own the property, these defects later become part and parcel of the property unless rectified personally by the owner. A problem spotted and rectified early can save you a big headache later in the future.

DISCLAIMER: The opinion stated in the article is solely of Heng Zee Soon 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.

72 73 5 Reasons to Consider Property Auctions

Many of us may have our reservations about buying property at auction. This may stem from our own beliefs, and as emotional judgment is involved; we might have overlooked the significant benefits of buying auctioned properties. Or we may not have realised the significant benefits. In the Klang Valley alone, it is estimated there are over a 1,000 newly listed properties which go under the hammer each month.

Ken Wan shares with us 5 good reasons why we should consider buying property at auction.

Lower price Be confident with auction The most apparent benefit of mechanism transparency buying property at auction is that All properties are auctioned-off by it could be had for much lower the decision of respective banks than a comparative property listed with the approval of the high court on the sub-sale market. Savings and land office, where the auctions

Ken Wan is the Head of Auction here could be realised, thus this are only conducted by licensed Division & Team Leader at Metroworld option of buying property could auctioneers. There is transparency Realty, Cheras. He is also a well-known be intelligently considered by the in the entire process, from the speaker and authority on the subject savvy investor. Savings to be had listing-off to the ability to bid for it of Auction properties in Malaysia. has been seen to reach as much as at auction. There are no grey areas 50% of a bank’s market value of a to question the sale of a property, property at auction! for a consumer market dictates the sale price of a property at auction.

74 75 POINTS OF INTEREST

Saves time & effort of buying @ Saves time & hassle of buying though Considerations for buying new launches sub-sale auctioned properties Instead of attending developers’ Buying property at auction also saves The property auction mechanism new launches to find the best much time and hassle in negotiating of buying and selling to the highest deals, why not try a different the purchase of a property with bidder has been around for approach to get the best deals? an agent or owner. Bypassing the centuries all around the world. And The time and effort in lieu of traditional sub-sale mechanism has it is always advisable to seek out researching and attending new its advantages; for you are able to someone with superior knowledge launches, along with inquiring and purchase a property purely at the real and experience in buying and cajoling early-buy deals, could reflection of consumer market value. selling auction properties if you easily be redirected towards Also, remember that you can decide to take a closer look. auction properties. request to physically view the property To conclude, Ken also shares a Doing your own research on beforehand if there is an existing tenant few pointers to keep in mind when auction properties, you will quickly (with a tenancy agreement) occupying considering auction properties. realise that a number of local the premises. Many investors forgo websites list these properties on a this step as they expect owners/ daily basis. By just spending some tenants to refuse. Try your luck anyway time on them, you will discover - some owners welcome the chance numerous attractive deals up for of obtaining a higher bidding price and grabs. Find your dream property some tenants would want to continue The auction process allows renting from the new owner. purchasers to think of property of not just an investment based asset, but something which touches the soul and warms the heart. An auction property could possibly Auction Property Checklist enable you to purchase a property • Type and location of the subject property that may be your ‘dream home’; by buying-in at a price you may never • Buying strategy for long or short-term holding have thought possible — making • Price range and possible returns from rental dreams come true. • As a loan or cash buy proposition • Possible outstanding utility bills to consider • Clearance check of title • Whether the property is tenanted or vacant • Intent of the buyer to utilise or rent the property

DISCLAIMER: The opinion stated in the article is solely of Ken Wan 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.

74 75 Five Asian countries rank high in cross-border real estate investment China, Singapore, Hong Kong, South Korea & Japan deploy a total of US$65 billion in 2016, reports Knight Frank.

Investment Corporation’s securing economic health. Some of the previous Asian real estate investors have Blackstone’s European logistics concerns, such as the domestic home launched themselves onto the global business Logicor for more than €12bn inventory glut, paled in comparison stage over the last few years to (£10.5bn), capital outflow controls are with impacts of external surprises like become one of the most important not necessarily proving a hindrance. Brexit and the US election result. Even global capital exporters - with China Also, the latest Chinese GDP growth those shocks have now been gradually (11%) ranking number two behind the figure, 6.9 per cent YoY growth in the digested as investors have taken US, Singapore (7%) in sixth position, first quarter this year, has dispelled advantage of factors such as exchange Hong Kong (5%) in seventh position, doubts on the country’s overall rate dips. South Korea (3%) in eleventh position and Japan (1%) significantly further down the list in sixteenth position of Origins of Cross-Border Capital – Top 20 Countries (2016) the top 20 list. Cross-Border Investment in 2016 Country % of Global Cross-Border Capital Chinese capital was second only to (US$) the United States (19%) which topped United States 45,429,158,484 19% the table. However, it is Chinese capital China 26,581,134,230 11% that has been the key driving force Canada 19,590,121,890 8% behind global real estate transaction United Kingdom 17,579,284,272 7% volumes over the past few years, especially across the Super City1 Germany 16,220,224,394 7% markets, according to Knight Frank’s Singapore 16,079,998,840 7% inaugural Active Capital Global Report. Hong Kong 12,046,642,875 5% France 9,312,015,863 4% Chinese capital Switzerland 9,162,322,822 4% Despite recent geo-economic Qatar 7,222,685,351 3% uncertainties around the world, South Korea 6,958,996,207 3% Chinese appetite for mega-assets Sweden 6,387,409,864 3% seems insatiable. However, some target Israel 3,645,669,443 2% locations are beginning to feel uneasy Netherlands 3,376,636,261 1% around the sustainability of Chinese investment as questions are being Norway 3,271,139,104 1% raised on the government’s latest Japan 3,071,934,100 1% capital outflow controls and the health Spain 2,892,860,331 1% of the domestic economy. Luxembourg 2,774,103,374 1% With recent deals involving Chinese Saudi Arabia 2,086,426,011 1% capital including HNA Groups purchase Italy 1,879,571,364 1% of the iconic 245 Park Avenue in New Source: Real Capital Analytics, Knight Frank Research York for US$2.21 billion, CC Land’s acquisition of The Leadenhall Building, also known as the Cheesegrater in 1. The Knight Frank Super Cities are Los Angeles, New York, London, Paris, Berlin, Shanghai, Hong Kong, Tokyo, Singapore, Sydney London for £1.15 billion and China

76 77 RESEARCH DATA

curve. Their sophisticated play is expected to result in less of a rush for trophy assets and more methodical behaviours that are commonly observed from mature players. Nicholas Holt, Head of Asia- Pacific Research, Knight Frank, says, “The emergence of an array of Chinese investors, institutional, SOEs, developers and privates, in the global real estate markets has undoubtedly been the largest single trend over the last decade. Despite the more stringently applied capital controls and a slight lull in outbound activity in 2017, over the longer term – with the opening of the capital account and the internationalisation of the RMB – Chinese capital will continue to have a significant impact in the major In terms of the emergence of property markets around the world.” The latest Chinese Chinese outbound capital, the global The transaction volumes of Chinese marketplace was initially crowded investments evidently depict the GDP growth with big name Chinese insurance cross-border investment narrative in figure, 6.9% YoY firms, large developers and State China, where cross-border activity Owned Enterprises (SOEs). However, has increased by 26-fold over the growth in the first more recently since 2015, private last ten years. In 2016 alone, Chinese conglomerates or more niche capital cross-border real estate quarter this year, has developers including HNA, Fosun and transactions amounted to US$26.6 R&F have made their presence felt billion, accounting for nearly 40 per dispelled doubts on globally. Some of these new entrants cent of all Asian cross-border capital operate differently; they are nimble invested; and also more than half what the country’s overall and are able to make decisions quickly, was invested domestically in China economic health. often transacting higher up the risk (excluding land sales).

Chinese investor transaction volumes

$60 $50 $40

li ons $30 Bil $20 $10 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Cross Border Domestic

Source: Real Capital Analytics, Knight Frank Research

76 77 RESEARCH DATA

The key markets that Chinese and just 5% in investment trusts. investors are focussing on are gateway Recent estimates from AMP Capital Chinese investors cities such as London, New York show that Japanese institutions have and the other Super Cities given US$4.4 trillion under management. A are focusing on their stability and depth. Other key 5% allocation would see US$230 billion locations including cities on the “Belt directed towards global real estate. gateway cities due to and Road” route, e.g. Singapore and “With the ongoing low growth and key Southeast Asian hubs, will also interest rate environment, Japanese stability and depth. continue to attract significant investor pension funds are beginning to look at interest. their exposure to real estate – an asset Key Southeast Asian Allan Sim, Executive Director class where they have traditionally hubs – especially of Capital Markets, Knight Frank been underweight. We are seeing Malaysia comments, “China outbound major players, such as GPIF, start to cities on the “Road & transaction volume is reducing in look more closely at listed and non- several markets mainly due to stricter listed property, both domestically and Belt” route including capital outflow controls. However, overseas. The potential for institutions we are expecting this trend to be like GPIF to significantly impact Malaysia will temporary and capital controls will offshore major city markets globally loosen when the Yuan exchange rate in the coming years is considerable,” continue to attract improves and GDP growth continues says Kenji Nagamine, Senior Manager, on a steadier path. Chinese investors Head of Japan Desk at Knight Frank. Chinese investors are focusing on gateway cities due GPIF, the world’s largest pension to stability and depth. Key Southeast fund, recently set out a global real Asian hubs – especially cities on the estate investment strategy following “Road & Belt” route including Malaysia a major shift in policy in late 2014 will continue to attract Chinese that allows it to include alternative investors.” assets as part of its portfolio. Over the last decade, Japanese cross-border Japanese capital investment was at its lowest in 2010 Japanese investors are expected to be at only US$193 million. This shot up increasingly important in the outbound to US$3 billion in 2016, an increase markets in the next two years as of more than 15 times. However, this the Japanese government policies is not the largest investment outside are encouraging them to shift to a its shores; that record was set in 2014 wider range of investment products. at almost US$4 billion. The strong Currently many large Japanese outbound showing last year, however, institutions are largely conservative, could be a foreshadow of more capital with 50% of assets in financial deposits outflows in the years to come.

Japanese investor transaction volumes

$50 $40 $30

li ons$20 Bil $10 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Cross Border Domestic

Source: Real Capital Analytics, Knight Frank Research

DISCLAIMER: The data above represents the findings of Knight Frank 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

78 PB

Pricing for Hong Kong skyscrapers is highest in the world Skyscrapers in Hong Kong are the most expensive commercial real estate assets in the world, according to new analysis from global real estate advisor Knight Frank.

Knight Frank has analysed in Tokyo, where pricing is estimated Pricing is highest in Hong Kong Skyscraper Capital Values for the first at US$4,900 per sq ft versus other which reflects the world’s highest time as part of its inaugural Active global cities like Manhattan/New York skyscraper rents, and the lack of Capital, The Global Report 2017. at US$3,700 per sq ft and London at available land for future development. According to Knight Frank’s analysis, US$2,450 per sq ft. Similarly, pricing in major financial which uses rental values as at Q4 2016 Other Asian cities that are priced centres such as Shanghai, Singapore, and prime yields as a basis, pricing above US$1,000 per sq ft include Manhattan and London is supported by for skyscrapers in Hong Kong has Singapore at US$1,900 per sq ft, Taipei the high level of demand for space in reached US$8,000 per sq ft, over at US$1,600 per sq ft and Shanghai at these buildings. 60 per cent higher than tall buildings US$1,250 per sq ft.

“Capital values of Asia’s tallest towers showed significant divergence at the end of Q4 2016, with Hong Kong sitting at the top and Mumbai at the bottom of the global rankings. In Hong Kong, continued strong demand and a lack of new land supply continues to push values higher, while the structure of the Mumbai office market, has tended to see office markets develop outwards rather than upwards.” - NICHOLAS HOLT, Head of Research for Asia Pacific at Knight Frank

80 81 RESEARCH DATA

Hong Kong developer Henderson Land recently paid $3bn for an old five-storey car park, indicating the frenzied state of Hong Kong’s property market. The price was a record lump sum for Hong Kong and a record also per square foot. The sale sets the world’s most expensive city even further apart from its rivals.

Source: Active Capital Report, Page 19

DISCLAIMER: The data above represents the findings of Knight Frank 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

80 81 The new buzzword in town today is going green. For the past eight years, acres of building and residential spaces have been certified as green spaces. Between commercial and residential properties, adoption of green features is more common in the former as Valuing green property - local authorities (in Klang Valley) mandated such developments as part of their compliance approvals. Would you buy one? Implementation rate for residential properties have been much slower. To-date, MyCrest, Green Building What does green mean to Index Sdn Bhd (GBI) and GreenRE – three local leading homebuyers? Ir Jack Chan explores. green building rating tools have collectively assessed and certified more than thirty (30) residential green properties. The adage “location, location, location” has been the only consideration whenever investors plan to purchase a home. Unlike in most Western countries, Malaysians tend to purchase a home as a form of investment – this can usually be the case for seasoned purchasers or for someone whom had already owned a permanent home. First time buyers, on the other hand, would purchase a home within their budget regardless of the location of the property. Whether one is an investor or a person looking for a home as owner-occupiers, the value of the purchase is important. This brings us to features where potential owners or investors place value in. Would the quality of the environment where one spends more than half of their lives be of an important consideration? In a tight market, many residential developers are enhancing their properties for sale with sustainable features. Green rated home promises an abode or community where natural resources is consumed as minimal as possible while delivering a healthy and clean environment. At the infrastructural or macro level, larger plots of green spaces provide a better green neighbourhood. Lush cycling lanes with plenty of exercise parks are appealing for an environment of healthy lifestyle. Appropriately located public transport terminal ensures that lower carbon monoxide emission if the residents opt to use it as the primary mode of transportation. This could be an envisage-able proposal as public transportation is more developed with the adoption Mass Rapid Transit (MRT), expansion of the Light Rail Transit (LRT), as well as the booming development of e-hailing services. Individual green properties – both landed and stratified, possess many hidden valuable features which can be unlocked if one know its benefits. Better insulated façade is always a norm for green residential homes, with such denser and tighter insulation preventing external solar heat from penetrating into the living room and bedroom thus reducing air-conditioning

82 83 POINTS OF INTEREST

cooling load. This green feature can be very useful in a hot and humid tropical climate like Malaysia. Building materials are sourced from manufacturers possessing eco-labelling on their products. These products do not emit Volatile Organic Compound (VOC) and Formaldehyde during their lifetime ensuring the interior air quality would not be contaminated. Adequate glass façade ensuring maximum external view while allowing adequate daylight penetration into the interior space are features that improves the physiological effect of living in a green home. Features such as Solar Photovoltaic (PV) panels, rain water harvest system, low energy light emitting diode (LED)

lamps and highly efficient inverter “Certified” or “Bronze” rating, while of local green rating tools – such driven air-conditioners are some of the good practise usually listed as “Silver” as MyCrest, GBI and GreenRE as new features developers bundled in to rating. Homes achieving “Gold” rating aforementioned, assist potential attract potential buyers. are normally best design practice while homebuyers on their decision- However, despite the obvious world class green homes are awarded making when purchasing their dream advantages of green homes, buyers still with “Platinum” rating. MyCrest, on properties. Over time, as the industry do not seems to be eager to purchase the other hand, rates the buildings mature and green awareness are one. One of the main reasons is the according to the amount of stars widespread, the local green rating tools lack of awareness and evidence that garnered. For example, a building will serve as a good property value such features directly benefit the home with five stars will be “greener” than a barometer. owner. building with four stars. MyCrest, GBI and GreenRE are the Also, one is not to be confused with major local green tools certifying green the provisional and final certification homes by utilizing point scoring systems awarded by both GBI and GreenRE. to determine and also quantifying the Developers are allowed to obtain amount of “greenness” of a home. provisional certifications before the Housing developers chart their points residence is completed for marketing by picking the credit points they desire purposes. Changes during construction to target for. Points are allocated from may increase or reduce the points Ir. Jack Chan is a Professional the design inception till the occupancy secured during the provisional stage Mechanical Engineer & currently the stage. which may eventually result in an Head of Green Building Commissioning For example, points can be derived “upgrade” or “demotion” in the rating. in an established, specialized from good wall insulation design, good In GBI, the provisional rating is known engineering services firm. He has recycling habits leading to reduced as “Design Assessment” or “DA”, while more than 25-years of experience wastage during construction and the final certificate is called “Completion in the design, engineering, testing & commissioning of mechanical systems daily habitual effort to reduce energy and Verification Assessment” or – most notably on Air-Conditioning & use. Collected points are compared “CVA”. It is important that homebuyers Mechanical Ventilation (ACMV) Systems. against pre-determined targets to purchase a house with CVA or final arrive at the certification level. GBI and certificate and not one with DA or Jack is a Member of ASHRAE, and is a GreenRE adopted rating classifications provisional one. qualified GBI Commissioning Specialist & LEED Commissioning Authority; and according to everyday precious metal With knowledge and experience, he is a strong advocate of building & value. Normal construction and design a homebuyer would place value on living green. practice normally are awarded with a “green” property. The introduction

82 83 INTERNATIONAL URBAN SUSTAINABILITY & GREEN BUILDING CONFERENCE 2017 11 & 12 OCTOBER 2017 KUALA LUMPUR CONVENTION CENTRE (KLCC)

Organiser: In conjunction with: Strategic Partners:

MINISTRY OF ENERGY GREEN TECHNOLOGY AND WATER (KeTTHA)

IGEM 2017 is the region’s largest green technology business and innovation platform to promote the growth of the green technology sector. Since its inception in 2010, IGEM has generated an estimated RM10 billion in business leads, with 2016 recording the highest at RM2.2 billion. It has also created heightened awareness of the importance of sustainability and its viable application to thousands of visitors to the event.

In conjunction with the 8th IGEM 2017 this year, MGBC is pleased to organise the IUSGBC IGEM 2017 Conference at Kuala Lumpur Convention Centre on 11-12th October 2017.

This unique event will bring together thought leaders, international green building councils, regulators, delegates and organisations, as well as the private and government sectors to share and discuss issues relating to green businesses.

Track 1 - Finance And Green Global Real Estate Trends in Sustainability 2017 and Beyond How to get Investments into Green Buildings Support and Funding for Green Buildings Energy Efficiency Builds Viable Business Case How Green Building Investments Pay Off Implementing, Monitoring and Maintaining the Workplace to Deliver Health and Wellbeing Consistently Connecting Cities - Green Rail Infrastructure Creating a Higher Value for Green Buildings Sourcing Funding for Green Buildings Property Index vs Global Sustainability Index Vertical Cities - Wawasan Tower Building Green

Track 2 - Health Wellbeing Overview of the 2nd Wave Benefits of Green Buildings The BIG I.D.E.A - Health and Wellbeing Creating Better Places for People Rethinking Cities for the Age of Global Warming Strengthening Blue - Green Insfrastructure in our Cities Next Generation Green : AECOM or Powering the India Green Building Industry Growth Modelling Cities Building a Business Case for Healthy Work Places Global Overview on Healthy Buildings, Delivering Wellbeing, Creativity, Innovation and Productivity Net Zero Energy at Green Cities Marina One - A Biodiversity Garden In The City Creating Tomorrow & Beyond

REGISTER NOW! Please visit www.MGBC.org.my For enquiries please contact us at +603 2282 8232 or email to [email protected] International News & Features CapitaLand capitalising on integrated developments in China

Singaporean developers are looking The “Raffles City” brand is doing well to China in their search for market thus far, and the CapitaLand group expansion opportunities. has set their sights high but calculated, CapitaLand for one is hoping with plans to invest $2.1 billion into to leverage on their expertise in integrated developments in China’s developing integrated developments, gateway cities such as Shanghai, which are harder to replicate than Beijing, Guangzhou and Shenzhen. residential, retail or commercial office projects, to help them get ahead in China’s intensely competitive real estate sector. They believe these cross- segment developments have their place in the Chinese property market, and while they are in knowledge of the need to constantly improve quickly or risk falling behind, are confident enough to invest significantly. CapitaLand currently has the largest portfolio of integrated developments of any foreign developers in China. Their next project is for a 24 billion yuan (S$4.9 billion) Raffles City Chongqing, their biggest yet in China. It is expected to reach completion by H2 of 2018. In the meanwhile, they are already in possession of 1 million sq m of land that comprises four integrated developments – which opened in April this year – Raffles City Shenzhen, Raffles City Changning, Raffles City Hangzhou and CapitaMall Westgate in Wuhan.

86 87 INTERNATIONAL PROPERTY NEWS

Shifts in Japan’s real estate market as country opens up to foreign workforce

As Japan gradually realises sharing sites such as Airbnb cap the MetroResidences aims to provide the need for foreign additions to number of days of rental at 180 per a one-stop platform for furnished their workforce, the number of year to adhere rules in Japan. apartments suitable for junior to expatriates working in Japan has MetroResidences started in mid-level executives. reached the 1 million mark. Singapore in 2014, and currently With the Tokyo 2020 Olympics But it is not an easy task for has listings in Minato and Shibuya in sight and Tokyo Governor Yuriko foreigners seeking temporary wards, both areas popular among Koike’s vision for Tokyo to be a housing in Japan – this is where expatriates. The company prides financial centre, the property rental foreign property companies come themselves in offering quality market’s potential seems promising. in. With a $4 million in investment properties with good value for However, it is not yet known, monies from Japanese e-commerce money. In Singapore, they have how will this increase in demand for firm Rakuten and a Singapore over 400 listings and an average rental properties affect property startup, MetroResidences has occupancy rate of 85%. investment in Japan or if there will launched in Tokyo. In Japan, where most of the be more possibilities created for It links up property owners in foreign-housing are facilitated investors that will increase the ease Japan with tenants seeking medium by serviced apartment agencies of buying properties in Japan. to long-term stays. Currently, home- such as Fraser and Ascott,

86 87 3-month short term Hundred Palms Residences EC in Choa Chu Kang, rental of private homes second EC to launch in 2017 now allowed

Though the short-term lease of A new executive condominium (EC) Property players are expecting the properties on sites such as Airbnb was recently launched, bringing new Hundred Palms Residences to have is still not legal in Singapore, leasing life to the market which has been quiet equally, if not more fervent response of private homes for a period of 3 for a while now. The Hundred Palms from the public as it is primely located months is now allowed. Under previous Residences EC in Choa Chu Kang is only within the vicinity of Hougang and regulations which was implemented the second EC to be launched in 2017, Serangoon North, and close to Rosyth in 2009, the minimum rental contract following the iNz Residences, also in primary school. period was 6 months. Landlords Choa Chu Kang, which was launched As there has not been many EC and tenants alike may rejoice as this earlier this year in February. launches this year – the next one means greater flexibility in terms of Hundred Palms Residences consists could be launched only next year – the negotiating lease arrangements. For of 531 apartment units and boasts developer is likely to be banking on those who were in between housing “smart home technology“, similar to the momentum from recent months to options or in Singapore for short-term that in iNz Residences. Developed carry forth into the next quarter, at the study or work purposes (e.g. renting by Hoi Hup Realty, this new EC will very least. a place while waiting for renovation have 3-bedroom units ranging from Out of the 1,394 apartment units sold work to be done in their current or $715,000 to $975,000 while 4- and last month, about over a quarter were future home) and looking for an option 5-bedders start at $1.03 million and $1.19 ECs. In fact, the best-selling project in to serviced apartments or hotel, an million respectively. At the 497-unit iNz May was Sol Acres in Choa Chu Kang entirely new market has opened up. Residences, more than half the units Grove. If anything, it seems like the This welcome change stems from have already been sold, following a keen estate is gaining attention amongst a public consultation exercise in response of 450 e-applications received buyers and tomorrow’s launch may hit 2015 which showed a majority of its during the weekend of its launch. new highs. respondents supporting a shorter minimum lease period. This new move may bring good cheer for some private home owners though it may not be much of a change for agents specialising in rental properties as the yields for short-term rents are considerably lesser than say a one- or two-year contract. Property analysts are not expecting much change in the rental market as landlords may still favour longer contracts as it saves them the trouble of waiting on new tenants. The rules are already in place and take effect immediately. Violations of the regulations may warrant fines of up to $200,000.

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Competition from smaller homes affect GCB sales

Cove, sales of landed properties have the buyers are corporations or high increased from 4 to 7 this year. net-worth entrepreneurs who are Across the segment, sales volume predominantly citizens from China. has however fallen from 11 to 10 this More landed homes are however year according to caveats filed. Under being sold as buyers pick up deals the Urban Redevelopment Authority following a fall in landed home prices (URA) zoning districts, 39 are named and their potential long-term value as “Good Class Bungalow areas”. The due to limited supply. A total of 538 most well-known are the Bukit Timah landed homes were sold and landed and Tanglin districts though there are residential prices have fallen 0.4% in some in the Bukit Panjang and Binjai Q2. Interest in landed homes have been Park areas as well. A GCB is defined as on the rise, though property analysts a bungalow with a minimum plot size of are modest in their expectations for the 1,400 sq m. GCB market segment, with an estimate Owners of Good Class Bungalows Smaller landed homes, some of 30 to 35 transactions for the whole (GCB) are finding them harder to move being bungalows, are gaining buyers’ of 2017. As there are limited number in the current market as competition attention with 20 transactions sealed of GCB in prime locations for sale, from smaller landed homes in the thus far this year with a total sale the lower numbers could come from vicinity has proven to be strong – value of $432.2 million, almost 45 per a place of circumstance rather than on the mainland that is. In Sentosa cent higher than last year’s. Most of ability.

Landed properties selling well as prices fall

Activity in the landed property Despite its current seemingly out- lifestyle fittings such as marble tiles, sector seems to be picking up as the of-the-way locale, its exclusivity and imported kitchen appliances from fall in landed property prices have upcoming transport links are expected Miele and De Dietrich, as well as brought buyers back into the market. to push its value for appreciation bathroom installations from Villeroy This renewed interest in landed homes upwards. The project consist of a mix & Boch and Hansgrohe. The freehold has translated into an increase in of terrace, corner terrace and semi- cluster housing project will also have sales at Bukit Sembawang Estate’s detached houses sized between 3,200 a pool, barbecue corner and outdoor Watercove development in Kampong and 4,400 sq ft each. The North-South dining areas for the residents to enjoy. Wak Hassan, Sembawang. With units Expressway and Canberra MRT station The developer, Bukit Sembawang priced at $2.3 million, the developer are expected to be up and running Estates, has many other land plots – 2.8 has sold 18 of its 80 freehold strata by 2020 and will be able to service million sq ft to be exact – in Ang Mo terrace homes just recently at an the residents efficiently in the near Kio, Seletar and Sembawang yet to be average of $738 psf. Boasting sea future. Rental yields is expected to rise developed. It will be an exciting wait to views and situated near Sembawang when that happens and the capital see what else they have to offer in the Park, the developers have confidence appreciation will be substantial. Northern region in the next decade or that the property’s potential is on the The 80 homes along the seafront so. increase. will feature an impressive suite of

88 89 Site of former Beach Road police station up for sale

There might be an office or shop The conservation status of the former The Beach road site has a maximum space standing in what used to be a Beach road police station may be a permissible floor area of 950,592 sq police station on a 2-hectare site on plus rather than a setback despite the ft and at least 70 per cent of it will be Beach road soon. conservation and construction costs office space, with the rest being retail The 99-year leasehold reserved list which may be considerable due to the spaces. In the neighbouring South commercial site was put up for sale by underground linkway. The popularity Beach development, rents stand at the Urban Redevelopment Authority of heritage sites and indie enclaves $9 psf while those at Marina Bay are (URA) recently and one of the may mean this site can leverage on at $9.48 psf. With these references, conditions of the sale is that the former its heritage status to market a unique the winning bid is likely to be between police station has to be conserved. concept. With the current development $1,400 to $1,700 psf per plot ratio. An It has come up for sale because the of DUO in Bugis and South Beach, estimated 10 bids is expected for the minimum bid of $1.138 million has been there is also hope that activity from the site and tender closes on the 28th of triggered by a developer-offer. upcoming Kampong Bugis area will September. trickle into market opportunities at the Beach road site.

Woodleigh government land sales site attracts top bids

A 99-year leasehold site on With current market sentiments Taking into consideration the Woodleigh Lane launched under consistently improving and the proximity to an MRT station and other the Government Land Sales (GLS) potential for a market recovery not amenities such as the NEX shopping programme has drawn bids from 15 impossibly far away, when a choice mall, property experts are expecting developers, with a top bid thus far piece of land comes along, developers selling prices of the future residential of $700.7 million from CEL Unique have been seen to bid aggressively, project on the site to be between Development, jointly owned by Chip especially of late. The 19,547 sq m $1,720 psf and $1,800 psf. The Bidadari Eng Seng Corp and Unique Real Estate. Woodleigh site is primely located next township will prove to be both a boon The latter is a joint venture between to the Woodleigh MRT station and near and a slight disadvantage as the new Heeton Holdings and KSH Holdings. the upcoming Bidadari township which HDB estate will bring life and activity About half of the 15 bids were above many buyers and investors are keeping into the area, but the recent sale of price expectations, one-third above their eye on. The site has a maximum a mixed-use site nearby may bring the $1,000 psf plot ratio and the top 4 gross floor area of 58,641 sq m and on the competition. By the time both were within the 3.6% margin. residents of the new development may properties are launched, it will simply also enjoy the unobstructed view of the be a matter of whether the price is neighbouring low-rise landed housing right. area.

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First mixed-use development Bukit Batok to launch in August

Mixed-use development in Bukit Batok West, the 99-year leasehold Le Quest consists of five 12-storey residential blocks and more than 6,000 sq m of retail space on the ground floor. Things seem to have gotten off on a good start as 30% of the commercial space has already been leased and as the inaugural mixed-use development in the area, it will no doubt set the tone for future similar projects in the vicinity. Despite this being the first mall to be managed by the project’s developer, th Qingjian Realty, they are confident The Albracca 5 on 2017’s list of successful collective about the take-up of units as they deals are going for a younger, hipster and contemporary theme with 40% of the The 23,400 sq ft Meyer Road site on which The Albracca condominium space allocated for food and beverage currently stands has been sold for close to $70 million, almost a good $8 million outlets. On the mainstream front, more than the expected $62 million the owners were hoping for. The winning bid FairPrice Finest has already taken up came from Sustained Land and relatively quickly too considering the tender only 1,200 sq m and Koufu food court will opened last month. take up another 500 sq m. Bids came from more than 12 parties, including developers, contractors and The project is expected to reach even a fund manager. The freehold development is situated in Tanjong Rhu near completion by the end of 2021 and the the upcoming Katong Park MRT station and in an area that is popular with young 516 residential units will feature smart professionals and expatriates. home technologies. Units available will Apartment units at The Albracca range between 1,658 to 3,972 sq ft and each range from studio apartments to four- owner stands to receive between approximately $4 million to $7 million. Based bedders. Prices for studio apartments on the selling price, the price per plot ratio inclusive of development charges are expected to start from $588,000, works out to be about $1,409 psf. The site has an allowable gross plot ratio of 2.1 one-bedders from $648,000 and and could potentially yield 65 apartments sized at an average of 750 sq ft. four-bedroom units will be priced from As the list of successful en bloc deals continues to grow this year, the total $1.38 million. value is already reaching $1.58 billion, more than the $1 billion for the total of Le Quest is Qingjian Realty’s last 3 similar deals closed last year. As developers’ confidence in a recovering real launch for 2017 and they are targeting estate market solidifies and their continued need to replenish land banks in sales of 150 apartments at its August preparation for the decade ahead, more attempts at land bids may occur in the launch. later half of this year.

90 91 FROM BROKE STUDENT to brokering lucrative property deals

James Chappell turned £15,000 into a successful real estate business and built a portfolio that allowed him to retire at 38.

- HO YUN KUAN

21 years ago at the age of 21, James pursue was a no brainer. He joined the Chappell was a typical cash-strapped property industry and found a job in an university student. The only significant estate agency. sum of money he had to his name was It was in the agency that Chappell £15,000 inherited from a grandmother met John Murphy, an ex-banker who who had passed away. “I didn’t really had also found a new passion in know what I wanted to do with the property investing. In 2004, the two, money,” Chappell recalls. All he knew now both seasoned professionals in was that he wouldn’t get the most out the industry, decided they were ready INVESTOR PROFILE of it if he left it in the bank. to strike out on their own. They left the Name: James Chappell After doing some research, Chappell company to found their own agency, decided to put the money towards his City Docklands Limited. To obtain Age: first property. “It was a three-bedroom his start-up capital, Chappell sold 42 flat in Canada Water (a neighbourhood the property he purchased with his Occupation: in Surrey Quays, South London) and it grandmother’s inheritance for a healthy Retired real estate entrepreneur had a dock and water view.” The price? profit. Investment goal: Just £67,000 – unbelievably low by Today, City Docklands Limited is For income today’s standards. one of London’s premier independent Number of properties With this very first investment, estate agency. The duo has achieved owned in the UK: Chappell was hooked. He began to great success for the company, 10 teach himself more about property building up an impressive portfolio investing, spending his leisure time of more than 400 properties and has researching and reading up on the helped overseas clientele from 14 topic. When he graduated from countries navigate the complexities of university, the career he wanted to the London property market.

92 93 INTERNATIONAL FEATURED

“My investment strategy is to always look at yield – I don’t worry too much about the capital growth potential of properties I buy. Every property of mine must be an income producer. They must all make me over £1000 per month after deducting costs. I’ve always tried to use the income and savings from my existing properties to finance my next one so I never had to dip into my bank account.”

There’s perhaps no better proof of investment. If I had wanted it to be the partners’ knowledge and expertise an investment property, I would have than Chappell’s personal success. In chosen to buy in London. I wanted the 13 years since he co-founded City to move out of the city for my kids; I Docklands Limited, he has expanded wanted a beautiful house near good his portfolio to 10 properties in the schools with a lot of land. On our UK. The yields from these properties property, we have a pond, sheep and have made it possible for him to retire chickens. I’ve spent the last three years four years ago at just 38 years of age. doing home improvement, restoring We get him to share the secrets of his barns, and designing and overseeing success in this interview. the construction of a swimming lake. Home is a 500,000 sq ft 16th century This house is not an investment, but a farmhouse in East Sussex. I paid a lifestyle I have chosen. No matter how million pounds for it in 2014 and its the value of the property appreciates, I value has probably gone up by about have no plans to sell it – we’ll probably 25%. But it’s a family home, not an be living here for at least another 20 years.

92 93 INTERNATIONAL FEATURED

My portfolio comprises 11 properties, all in the UK, if you consider my family home as one of them. Not counting my family home, I have 10 properties I see as investments. When I first started City Docklands, my aim was to purchase one property every year, and to stop when I have 10 – so here I am. Overall, with current rents of all the properties I have, my portfolio is yielding 15%. One of my more interesting properties is a flat I purchased in 2009 for £230,000. It’s one of eight units occupying a converted space that used to be a pub. I bought it as a one- bedroom, but turned the large kitchen into a second bedroom and used part of the living room to create an open- plan kitchen. To maximise yield, I look for flats I’ll build holiday homes on the plots The property is now worth about with a large living room, 5 metres or I will purchase, and try my hand at £400,000 and it gives me £2100 in more in length, and a large kitchen. I becoming a developer. rental income every month. Another then turn the kitchen into an additional In comparison to other forms of property is one that I acquired in bedroom, and change part of the living investment, property investment is 2010. It was a one-bedroom that I room into an open-plan kitchen. definitely much better. I’ve also got paid £125,000 for. I converted it into Another way is to split the kitchen shares, so I know that the income I’m a three-bedroom using space from into half, turning one half into a getting from my properties simply the large kitchen and living room. It bathroom. The existing bathroom has no comparison. The 15% yield currently gives me rental income of can then be turned into a bedroom – on purchase price I’m seeing on my £1850 per month. that’s if the bathroom is big enough, properties is something I cannot My investment strategy is to always of course. More bedrooms mean more achieve with shares. look at yield – I don’t worry too much yield, so I always look for properties The advice I have for budding about the capital growth potential of that can be converted this way. investors is to always look at yield. properties I buy. Every property of In the future, I would like to buy Obviously, you can’t completely mine must be an income producer. some land in East Sussex, where disregard capital growth, but as a They must all make me over £1000 I currently live. Working for City director of City Docklands, I witnessed per month after deducting costs. I’ve Docklands has helped me to establish many clients who stretched themselves always tried to use the income and a portfolio that has allowed me to too thin and wasn’t as comfortable as savings from my existing properties to retire at 38 with many residential they would like to be when the 2008 finance my next one so I never had to properties to my name, so I would recession happened. Yield investors, on dip into my bank account. like to try something new. Perhaps the other hand, were less affected.

Learn to navigate the UK property market like a pro, from the pros, and enjoy a fuss-free investment experience with City Docklands’ comprehensive services. Visit www.citydocklands.com

94 PB INTERNATIONAL BRIEFS

Why your HDB is not going to make you any money

Just like any young couple would as investment value or simply put ‘Is my they begin their next chapter of life, HDB going to help me make money?’ you ballot for a BTO and, after 4 years To answer this question, one of wait, move happily into your first should first understand the demand matrimonial home. Over the years, you and supply of the current resale start a new family and draw greater HDB market. Over the years, the income as you progress up the career government implemented several ladder at work. As the fifth year of your cooling measures that have resulted GWEN KOH HDB’s minimum occupation period in the demand of resale HDB flats to Associate Director, draws closer, you toy with the idea of decline. Let us take a look at some of Redbrick Mortgage Advisory an upgrade to provide you and your them: family with a better standard of living. With influence from her peers in the The next question that will probably 1. Mortgage Servicing Ratio property line, Gwen was intrigued to come into your mind would be whether In August 2013, the government find out more on real estate and found to sell off your flat or to keep it and introduced the Mortgage Servicing herself dedicating time to understand the property market. The financial rent out. For sentimental value, many Ratio (MSR), limiting borrowers to aspect of real estate was one area that couples may choose the latter. After all, 30% of their gross monthly salary for excited her. Hence, she took a leap this is your first matrimonial home and mortgage purposes. of faith from her previous portfolio in a subsidized flat from the government. According to MOM, as of 2016, the Service Quality and Guest Experience, But before making any decision, one median gross monthly income of full and embarked on her journey with Redbrick Mortgage Advisory. question that you ought to be asking time employees residing in Singapore yourself should be if your flat has any is at $4,056.

PB 95 This would mean that based on the 4. Private property owners are not median income, the regular couple allowed to buy HDB working full time is only able to afford a Private property owners would have property priced at $485,000. If you are been your target when selling your planning to sell your property above HDB, since they probably have a higher this price, chances are you are going to disposable income. face challenges selling the property at Unfortunately, private property your ideal price. owners are not allowed to purchase a HDB flat unless the private property 2. Permanent Residents (PR) who is disposed within six months of the wants to buy resale flats will have to effective date of purchase. wait three years after receiving their Other than demand, another factor PR status that may directly impact your ability to Another cooling measure that was also sell your property and at the right price announced in 2013 was that a (PR) who is none other than the supply of resale wants to buy resale flats will have to HDBs in the market. wait three years after receiving their PR status. 1. Additional Buyer’s Stamp Duty This was a measure implemented to In 2013, the government announced ensure that PRs are not crowding the that individuals who would like to HDB resale market, and to enhance purchase a second property would affordability for Singaporeans. With have to pay additional buyer’s stamp such implementations, PRs who are duty (ABSD). This means that on looking at saving on rent may consider top of the 3% buyer’s stamp duty, purchasing private properties instead a Singaporean will have to pay an of waiting 3 years before purchasing a additional 7% of the property price on resale flat. your second purchase. Below is the ABSD one will incur when purchasing a 3. Removal of Cash over Valuation property for the buyer segments: (COV) Before 2014, sellers focused on COV to determine asking price. Often, COVs BUYER FROM ABSD FOR 1ST ABSD FOR 2ND ABSD FOR 3RD set by sellers would get higher and 12 JAN 2013 PROPERTY PROPERTY & MORE PROPERTY higher based on what their neighbors sold at. This resulted in escalating Singapore Citizen (SC) - 7% 10% quantum, whereby buyers wound up paying more than the fair valuation of price. Permanent Resident (PR) 5% 10% 10% In 2011, the median COV was at $36k (according to 99.co). As of 2014 COV Foreigners and Non- 15% 15% 15% prices fell, and since its removal, there Individuals (Companies) were some cases where COV was at $0.

96 97 INTERNATIONAL BRIEFS

To avoid the payment of ABSD, there 3. Not all flats are eligible for is a rising trend where couples would Selective En-Bloc Redevelopment sell their HDB and decouple to avoid Scheme (SERS) paying ABSD. In a 2013 market report, And here comes my last point, citing it was mentioned that law firms in from an article in the papers earlier this Singapore saw an increase number of year. It also addressed concerns with cases where couples ‘decoupled’ their regard to home buyers forking out high properties. prices to purchase older flats, hoping This would mean an increase in to benefit from SERS. However, it being supply of resale properties in the a selective scheme, it is clear that not market. all HDB owners would benefit from SERS. It was reiterated that when HDB 2. Increase in supply of Build to Order leases (of 99 years for public housing) (BTO) flats runs out, they have to be returned back Between 2011 and 2013, some 25,000 to the state. Hence, prices of flats near BTO units were released every year. the end of their lease period may come This supply was cut in 2014 to 22,400 down. This may further impact the units and 15,000 units in 2015. In resale market for HDB, bringing prices December last year, it was once again down. As property is the preferred announced that 17,000 BTO flats will retirement asset in Singapore, it is be launched in 2017. natural for homeowners to want to Can you imagine the supply of leverage on it and enjoy a comfortable resale units in the market when these retirement. However, based on the BTO flats reach their 5 years minimum above factors discussed, would your occupation period? HDB really be a worthy asset to keep till retirement?

96 97

AGENT’S ADVICE

BUYING OUT OF THE BOX: Affordable opportunities abound beyond the city With buying power that is getting weaker by the year, prospective homeowners may need to look farther from the city center to enter the market. Mike Yap, Assistant Regional Manager at Vivahomes Realty shares some insights on why home buyers should take advantage of the affordability of new growth areas in city outskirts.

In your opinion, where are the areas What are the advantages of purchasing Are there future developments that that still hold good capital appreciation a property in Rawang compared to the are expected to boost the property potential in both primary and other prime, more matured areas in prices and value in the area? secondary market currently? Greater KL? There are many future Even though Rawang does not Few years ago, Rawang was a rural, developments in store. Some of the have any major highlights such outskirt area but today thanks to several notable ones are the multibillion- as iconic commercial areas or big well-known developers such as Glomac, ringgit integrated commercial malls, it currently holds the largest Guocoland, Low Yat Group, Sime Darby, development called The Two – an buying potential. Despite the slow S P Setia and so on, it is now growing acronym for “Theme park resort, transformation, many big property and developing rapidly. Most of these Wholesale city, Outlet mall” – by developers have recognized its developers have the experience of DA Land Sdn Bhd. The project will potential and are setting their marks developing many successful townships be built on a 51-acre development there. Since it has not reached its full and catalyst developments. Today, site and comprises of shophouses, potential yet, the properties there still not only there are apartments and low a mall, a resort, a wholesale city fall within the affordable price bracket. cost terraces there, Rawang also has and one of the world’s largest Secondary market landed properties gated and guarded terraces, semi-Ds theme park. On top of that, the are priced from as low as RM 200 per and bungalows. That said, most of development of The MRT Sungai sq ft to RM 400 per sq ft. So, I would these projects will attract potential Buloh-Kajang line not only definitely say that Rawang offers buyers from both within and outside of improves connectivity to Rawang the opportunity to purchase your Rawang. Soon, Rawang will be one of but also serves as a prove that the own property at prices that are still the most developed townships in the government has confidence in attractive compared to other areas in northern region, just like Semenyih in the developing areas in the northern Klang Valley. southern region. region.

PB 99 POLYGON PROPERTIES Building towards a global presence Fuelled by big dreams, firm visions and unyielding determination, Polygon Properties is paving the way to the global stage.

Through years of learning and Could you tell us about yourself and Kiara, Bangsar and KLCC, as well as improving, Polygon Properties has some of the highlights of your experience commercial properties in Klang Valley. gained a foothold and created a strong in the real estate industry so far? From there my partner and I moved impression in the industry. MIRA I started my career in the real estate on to focus on project marketing and a SOYZA speaks to Derek Soh, Executive industry in 2010, during the time the year later, I led a project sales team. Director of Polygon Properties to learn industry was still bullish. I was focusing Throughout these years, I have about their beginnings and the next on secondary market then, mainly learnt a lot from my mentors, seniors, big step. on residential properties in Mont colleagues and clients, as I power

100 101 AGENT’S VIEWS

through many ups and downs along the way. A senior once taught me, we “In Polygon, instead of focusing on the quantity should treat real estate like a business, so instead of being emotionally of agents and negotiators, we believe in affected by any unfavorable outcome, we need move on no matter the result, achieving extraordinary results with quality and be it good or bad and learn from it. - MARK CHUA My advice to new players in the dedicated realtors.” industry is that we should enjoy our successes, but at the same time learn from every mistake we made along our journey in order to continuously improve ourselves and provide the best professional services to our clients.

What is the brief history of Polygon? How did it all begin and what are some of the company’s milestones? We formed Polygon Properties together with a few senior partners of the company, who are all passionate and experienced in the industry under the guidance of two senior principles with over 20 years of experience. Our vision was to establish an agency that believe in extending after sales solution Where do you see Polygon in the next not only emphasizes on the benefits to our clients by providing them with five years? our team would receive but also their our professional consultancy and As part of Polygon’s visions, we aim career progression. We empower information. Hence, we put emphasis to be the trusted international real them with the knowledge and skills on educating and providing the team estate elite group, built by professional needed, in both sub-sales and projects members with a good platform. realtors who might eventually become marketing to help propel them. We want to create a culture where our business associates and even On the other hand, we also look into experience and knowledge are shared business partners in their regions. building a good working relationship with each other, across teams under In the next 5 years, Polygon would with various reputable and well the company’s unique structure and like to establish a network of operation established developers in town. To- arrangement. centers not only in Malaysia, but also date, our KL team has achieved a total Furthermore, we provide our team in major cities in South East Asia sale of RM250mil in project sales within members with a wide range of projects and beyond. We envision forming a the first seven months of 2017 and we so they have the freedom to select globally linked real estate network are looking forward to hit the target of the projects that they are confident under our partnership structures RM400mil in group sales – along with in taking on and compete in a healthy that provides our clients with a our team from KK and Penang – by end way to outperform each other within comprehensive real estate services of this year. their own territory. and solutions globally. Hence, we are In Polygon, instead of focusing on continuously seeking for quality talents What makes Polygon different from all the quantity of agents and negotiators, in various regions to join us to build a the other Real Estate Agencies around? we believe in achieving extraordinary better real estate platform together. Polygon utmost mission is to groom results with quality and dedicated And, that person could be you. quality realtors who are well-versed in realtors. Hence, we are limiting our both primary and secondary markets number of realtors in each region, in and understand the true value of a order to create a balance of manpower profession in real estate. Having started so that the team can function more from secondary market, we always effectively and efficiently.

100 101 NO.27A,27B & 27C, PERSIARAN GREENHILL 30450 IPOH, PERAK Tel : 05 253 3388 Website : www.gsrealty.com.my

IPOH IPOH IPOH

Kenny Ng Joanne Lee Jennifer Lee 016 523 3332 016 208 1666 012 522 1492 Ipoh Ipoh Ipoh New Projects / Sub-sale / New Projects / Sub-sale / New Projects / Sub-sale / Commercial / Residential Commercial / Residential Commercial / Residential Rent Rent Rent [email protected] [email protected] [email protected]

IPOH IPOH IPOH

Kenny Neow Andson Loo JASON TAN 016 996 6799 012 511 0220 011 2407 0328 Ipoh Ipoh Ipoh New Projects / Sub-sale / New Projects / Sub-sale / New Projects / Sub-sale / Commercial / Residential Commercial / Residential Commercial / Residential Rent Rent Rent [email protected] [email protected] [email protected]

58-01, JALAN SETIA TROPIKA 1/29, TAMAN SETIA TROPIKA, 81200 JOHOR BAHRU, JOHOR Tel : 07 244 7156 Email : [email protected] Facebook : Royce Properties 大成地产

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Irene Lui Joan Yee Michelle Lim 012 7152 343 017 888 8797 011 1035 8478 Johor Bahru Johor Bahru Johor Bahru Subsales Subsales New project/subsales [email protected] [email protected] michellelimproperty @hotmail.com 1 year 1 year 1 year

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Mico Pan Wendy Soo Win Tan REN 17842 019 932 3171 012 679 9520 018 311 7977 Johor Bahru Johor Bahru Johor Bahru New project/subsales Subsales Subsales [email protected] [email protected] [email protected] 1/2 year 1 year 3 years

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2-1-41 ONE SQUARE, TINGKAT MAHSURI 1, 11900 BAYAN LEPAS, PENANG Tel : 04 637 0156 Website : www.iqiglobal.com Mobile : 010 400 9155 Facebook : facebook.com/iqigroup Email : [email protected] Twitter : twitter.com/iqiholdings

PENANG PENANG PENANG

Aster Ng Bernard Tan Grace Goh 012 415 8111 REN 21814 REN 18041 Northern Malaysia 012 561 9917 012 471 2963 New Projects, Subsales Northern Malaysia Penang, Kuala Lumpur, & Rental (Residential / New Projects Johor & South East Asia Commercial / Industrial) [email protected] New Projects, Subsales [email protected] & Rental (Residential / Commercial / Land) [email protected]

PENANG PENANG PENANG

Wincent Liang YC Tang Yeepan Koh REN 14075 REN 12101 REN 08258 019 273 4553 019 449 9725 012 585 5588 Northern Malaysia Northern Malaysia Northern Malaysia New Projects, Subsales New Projects, Subsales New Projects, Subsales & Rental & Rental (Residential / & Rental [email protected] Commercial / Industrial) [email protected] [email protected]

NO. 2714, JALAN CHAIN FERRY, KIMSAR GARDEN, BUTTERWORTH 13700 PULAU PINANG Tel : 04 398 8999 Fax : 04 3988666

HB BUTTERWORTH HB BUTTERWORTH HB BUTTERWORTH

Alice Yeoh Yennie Lim Teh Fong Yun 012 423 2136 012-4186682 012 938 9362 Seberang Perai Utara, Seberang Perai Utara, Seberang Perai Utara, Tengah & Selatan Tengah & Selatan Tengah & Selatan Subsales & Rent (Residential Subsales & Rent (Residential Subsales & Rent (Residential / Commercial / Industrial) / Commercial / Industrial) / Commercial / Industrial) [email protected] [email protected] [email protected]

HB BUTTERWORTH HB BUTTERWORTH HB BUTTERWORTH

Jessie Lee Ooi Oon Hun Koh Seak Chin 012 457 7052 012 413 5033 019 379 8751 Seberang Perai Utara, Seberang Perai Utara, Seberang Perai Utara, Tengah & Selatan Tengah & Selatan Tengah & Selatan Subsales & Rent (Residential Subsales & Rent (Residential Subsales & Rent (Residential / Commercial / Industrial) / Commercial / Industrial) / Commercial / Industrial) [email protected] [email protected] [email protected]

102 103 HBA: Relaxing lending criteria is not the solution to address access to affordable housing

For many years, the National House Buyers Association (HBA) has been warning that Malaysia is going to face a potential housing crisis in the form of a “homeless generation”, where an entire generation or even generations of prospective house buyers, from the lower to middle-income segment and our younger generation comprising the Millennials, will not be able to buy their dream homes.

This foreboding premonition has property based on his current income. proven to come true - Bank Negara This is prevalent in all the major states Malaysia (BNM) 2016 Annual Report as shown below: states that “Since 2012, the increase If left unchecked, this housing in house prices in Malaysia have crisis can bring about various social outstripped the rise in income levels. problems such as an increase in Consequently, prevailing median house crime rates. It is imperative for the prices are beyond the reach of most government to take immediate Malaysians.” measures to address this issue. In simple terms, this means that the Various parties have come out with average Rakyat cannot afford to buy a suggestions on how to address the

issue of accessibility to affordable housing. Predictably, the Real Estate Faster growth in median house prices compared to and Housing Developers Association income levels across all key states during 2012-2014 (REHDA) opines that the main reason CAGR, % why the Rakyat cannot buy properties 30 is because banks refuse to give them 27.5 loans. REHDA have asked for Banks to 25 be more lenient in their lending criteria 21.4 19.2 19.3 to allow more people to be able to buy 20 their dream homes. 14.2 14.2 15 At first glance, it may appear that REHDA’s proposal has some merits 10 7.7 7.9 as it helps people who cannot afford to buy their dream homes to get 5 the necessary financing required.

0 However, REHDA’s proposal is very Kuala Lumpur Selangor Penang Johor detrimental in the medium to long term and will only compound the problem Median house prices Median household income that property prices are too expensive in comparison to income levels. *Note: CAGR refers to Compound Annual Growth Rate Source: BNM Report 2016

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price their properties even higher and the transfer of the property and the worsen the situation for both current loan agreements. All these costs are and future generation of house buyers. normally charged as a percentage According to the Khazanah Research based on the property value. When Institute, the Malaysian all-house price house prices increase as a result of had grown at a CAGR of 3.1% from relaxed lending criteria, house buyers 2000 until 2009. However, between will have to bear higher ancillary cost 2009 and 2014, it grew at a CAGR of too. 10.1%, which is almost 3 times more than the growth from 2000 to 2009. Less or little savings for emergencies By relaxing lending criteria, the steep When house buyers take on a loan rise in property prices is expected to amount that is beyond their means, continue. they will have to cut back on other areas such as savings for a rainy Will cause the prices of existing day. Borrowers will have very little completed properties to increase too or no savings for any unforeseen When it has been known that banks emergencies such as an accident or are relaxing their credit criteria, owners prolonged illness. Thus those faced of existing completed properties, with high debt obligations could be especially the property speculators driven to financial ruin should any and investors club will also follow in emergency strike. developers’ footsteps in increasing selling prices. This will worsen the Basic essentials of living affected current situation as prices of both new When such a high percentage of and completed properties will increase household income is committed Encourage developers to price new at an accelerated rate. to servicing housing and car loans, launches even higher Property prices have a very strong very little is left for other basic living The current problem faced by house ‘push and pull’ effect. When prices of essentials. The Rakyat will be forced buyers is that property prices are new properties increase; this will cause to cut down on meals, clothing, too expensive in comparison to their a spike in nearby completed properties. entertainment, healthcare necessities, current income levels. As a result, It can also ‘push and pull’ up prices etc. Therefore, the other sectors there will be some prospective of completed properties and new of our economy will suffer, leading borrower who will have their loan launches in surrounding areas and this to an unbalanced economy. The applications rejected simply because effect will continue to spread. Hence, only benefiting parties are banks, the Banks feel that the credit risk is just new property prices in the prime areas developers and the associated agents. too high as the loan amount applied such as Damansara will eventually is excessive in comparison to their ‘push and pull’ up properties prices as Banks owe duty of care to depositors current income levels. far as in Semenyih and Seremban. Banks are in the business of taking The solution is not for the banks to deposits and giving loans, hence relax the lending criteria by “closing Higher property prices means higher banks would never deny financing to one eye” but to find a way to lower cost such as legal fees, stamp duty credit worthy borrowers. Financing property prices so that it is more There are many ancillary costs in is the bloodline of any country and affordable to the average Rakyat. purchasing a property such as the without financing by banks, Malaysia’s Relaxing the lending criteria will only sale and purchase agreement, loan economy will come to a complete encourage housing developers to agreements and the stamp duty for standstill. BNM and the Association of

104 105 Banks Malaysia have released data to prove that banks have given and will continue to give financing to those who deserve it. The primary source of funds for banks to disburse loans come from the customers’ deposits. Ultimately, if the banks go bust because too many borrowers have defaulted on their loans, the depositors will also lose their money. Hence, banks must exercise a great duty of care to protect these funds by ensuring that only credit worthy borrowers get the financing that they deserve.

Prevent potential sub-prime crisis potential financial disaster as it will tick It is important to learn from other the third and final box for a potential Don’t buy a car until you buy your first countries’ mistakes and the sub-prime subprime financial crisis. Although house crisis in the USA is an important lesson Malaysian Banks are in a much stronger With the completion of the Mass to be learnt. In layman terms, the three and more resilient position since the Rapid Transit (MRT) from Sungai recipes for the sub-prime crisis were as Asian Financial Crisis of the late 1990s, Buloh to Kajang, public transportation follows: a subprime crisis in Malaysia could is expected to improve. Coupled (i) Overpriced properties; potentially devastate the domestic together with other rail projects such (ii) Less than credit worthy borrowers; banking sector and trigger a wide as the LRT Extension and future MRT and spread economic recession that could extensions, it has become feasible (iii) Economic slowdown potentially spill over to the entire to commute to work using public ASEAN region. Hence, it is imperative transportation. When either of the above happens that banks do not relax their lending HBA would advise all aspiring house in isolation, the effects are still criteria, especially during difficult buyers not to buy their first car until manageable. However, when economic conditions. they can afford to buy their first house. combined together, it caused the This is because with an existing car biggest global financial and economic HBA’s advice for aspiring house loan, the amount of housing loan that crisis since the Great Depression of buyers: such aspiring house buyers can take the 1930s. Based on BNM 2016 Annual Buying a house is not as easy as it was will be greatly reduced. The hire- Report, the median property prices just 10 years ago. Due to rising cost purchase (of a car) will ‘eat into’ the in Malaysia have already met the first of living and escalating house prices, instalments’ repayment liquidity. If criteria as home prices are beyond the it has become much more challenging aspiring house buyers really need a reach of most Malaysians. Malaysia is for the current generation to buy their car, it is advisable to get a cheaper but currently experiencing an economic first or dream homes. Aspiring house reliable second-hand car or a ‘hand- slowdown as evident by the drop in buyers must be prepared to make me-down’ car from their parents or global oil and commodity prices and a sacrifices and forgo certain luxuries older siblings. drop in our local currency against other such as the latest gadgets and the major currencies. This actually means RM10 coffee at cool hipster cafés. Comfortable debt service ratio Malaysia has ticked 2 out of 3 boxes They should always try to set aside Among the reasons given by the which sparked the sub-prime crisis in at least 10% - 20% of their monthly Association of Banks for the reasons the USA. pay as savings for the purchase of for rejecting housing loan applications By calling for banks to relax the their first home and other unforeseen was the high debt service ratio (DSR). lending criteria, REHDA is courting emergencies before indulging in any This means that the applicant’s existing luxury purchases.

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level of borrowings and repayment guidance on the assumption of monthly Conclusion is high compared to the applicant’s gross income of RM5,000: The current problem is that house income. Banks use DSR to determine prices are too expensive in relation to how much an applicant’s income is (i) Any single monthly loan repayment buyers’ income and many are seeing being utilized to pay off debts and cannot exceed RM1,666 (1/3 of their loans being rejected. However, if he/she can afford to take on an monthly income). For prudence sake, the solution is not to relax lending additional loan; HBA recommends limiting to only guidelines but to find ways to lower Most prospective house buyers RM1,000 if possible (20% of monthly property prices. The relaxation of do not know what is the maximum income). lending guidelines will surely worsen DSR allowed by banks. Prospective (ii) All combined monthly loan the situation and speed up the road to borrowers must be mindful not to repayments cannot exceed RM2,500 a “Homeless Generation” that HBA has take on too much borrowings in (1/2 of the monthly income. For been warning about for in years. relation to their income levels and HBA prudence sake, HBA recommendation would recommend that prospective to keep to RM2,000, if possible (40% borrowers adhere to the following DSR of monthly income)

FOOTNOTE: Recommended property price to household income

The recommended benchmark of property We have used the latest data available on the monthly household income in 2014 from the prices in comparison to borrowers’ annual Department of Statistics and extrapolated it to 2017 by assuming an annual increase of 6.0% from 2014 household income that is deemed affordable is to 2017 and then applied an annual multiple of 3.0 times to 5.0 times to the ascribed household income in a factor of 3.0 times and below. This means that 2017 and the results are as follows: if the borrower’s household income is RM10,000 per month or RM120,000 per year, the borrower Maximum property should only purchase properties costing Median Monthly price based on Affordability Affordability RM360,000 and below. Median Household multiple to annual Rating Rating This benchmark is endorsed by reputable Monthly Income in household income international bodies such as the World Bank, Household 2017 assuming United Nations and even accepted by our BNM State Income in annual 4.0 times 5.0 times 2014 increase of and local think tanks such as Khazanah Research 3.0 times 6.0% from Moderately Seriously Institute. The full benchmark is as follows: 2015 to 2017 Unaffordable Unaffordable

RM RM RM RM RM

Negeri Sembilan Multiple of Property 4,115 4,900 176,400 235,200 294,000 Affordability Rating Price over Annual Penang 4,658 5,547 199,692 266,256 332,820 Household Income Selangor 6,294 7,496 269,856 359,808 449,760

Kuala Lumpur 7,705 9,177 330,372 440,496 550,620 Affordable 3.0 times & Under

From the above data, new property launches by developers that are suitable for “Family Living” that Moderately 3.1 times to 4.0 times Unaffordable falls in the “Affordable Category” is very rare. HBA defines “Family Living” as properties with built-up of 800 sq ft to 1,000 sq ft (without balcony) and with 2 to 3 bedrooms. HBA defines “Affordable Properties” as properties suitable for “Family Living” that is in the price range of RM150,000 - RM300,000 and up Seriously 4.1 times to 5.0 times Unaffordable to RM350,000 in prime areas. HBA’s definition would be deemed as affordable based on the above benchmarks. However, REHDA definition for affordable properties as properties costing up to RM500,000 for first- Severely 5.1 times & over Unaffordable time house buyers and up to RM1.0 million for upgraders is certainly not affordable to the majority of the Rakyat.

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

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Can Feng Shui improve your finances and wealth? Master Paw Sandy says yes, it can!

Keep in mind that the true objective encourages a continuous flow of luck Wealth god of Feng Shui is to harness the Chi of the such as vases, pots, bowls and plates. local environment to support us in our Displaying these items would result goals and desires. It is a science and in a consistent inflow of good luck for the practice of determining the quality you and your family as well as business of a person’s life by studying their living windfalls. environment and seeking to improve this quality by tapping into the natural Wealth appealing crystal trees energies (Chi) in that environment. Harnessing Chi effectively opens Employed commonly in Chinese up new opportunities, which you will houses, the wealth God or “Chai Sen be able to leverage on for your own Yeh” is a prevalent symbol of floating benefit. Undoubtedly, everyone wants luck and prosperous wealth. There to improve their finances and make are various celebrations throughout more money, but one must first review the lunar year which honour and and improve his/her overall health and pays tribute to this God to ensure his happiness. If you are not in possession consistent blessing of prosperity and of these two elements, there is no point fortune. in receiving financial gains anyway. There are many ‘Prosperity’ and ‘Wealth’ Feng Shui items which are believed to improve one’s prosperity, fortune and enhance wealth.

Wealth vessel If placed in a home, a wealth vessel Crystal trees are unique objects which filled with gold coins and jewellery can serve to generate miracle-like good be a symbol of a successful endeavour. luck for its owner. These bonsai-like One can expect to see an improvement trees have trunk manufactured from in their financial health and other resin and branches of copper mineral MASTER PAW SANDY capital gains. from which dangle crystals leaves will A famous Feng Shui consultant also make a wonderful exhibit. in Malaysia. She is also the first Wealth vases Business owners who wish to person in the Southern region improve product sales and enhance of Malaysia who established a profits should place these trees within company that merged Feng Shui their work area or store, particularly in with interior design. The fusion well-frequented places such as office between these two allows her work reception desks, lobbies and also to be both precise and functional at beside cash registers. This practice the same time. Her transformative There are numerous container-like is sure to enhance one’s business interiors are enjoyed by numerous objects which represent prosperity and performance and prosperity. commercial enterprises.

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THE PIECES TO SKIMP & SPLURGE ON IN YOUR LIVING ROOM

Truth be told, I’ve always been a bargain hunter. I’m certain my first words as a baby were: “Is that on sale?”

Although while I do love the thrill of securing budget decor, I’m also a big advocate for investment pieces: Items you should splurge on for your home because you’re going to have them for years and years. When it comes to decorating your living room, the inevitable conundrum will arise – where exactly do you spend your hard-earned cash, and where can you skimp without sacrificing on style and quality? Wonder no more, because I’m going to clear it all up for you here.

Your couch: SPLURGE! made from cheap melamine it could I’m not saying you should fork out 10 Your couch is the item you’ll sit on the scratch easily). grand for an original canvas, but it’s most at home. You’ll probably spend great to support a local artist and get a more time on it than you do in bed (or TV and stereo system: SPLURGE! sizeable piece for your room that takes is that just me?). I’m in no way excited by technical up some significant wall space. There’s With this in mind, you need to things – they cost so much and yet nothing better than a good-quality really invest in this piece. Avoid all never look that pretty. But there’s no conversation piece artwork. So please temptation to go into a budget store denying that a killer TV and stereo don’t skimp here. and visit higher-end haunts instead. system is a godsend for a living room. Spending roughly AUD5,000 for So get that whopper television, have Floor rugs: Choose your own a couch is about right, in my humble those woofing speakers, and make adventure opinion. Even if you own and use it for your living room your own private I don’t like to spend thousands on a just five years, that’s only one grand a cinema at home. You deserve it. floor rug. If you have pets or children, year for all of the comfortable nights it’s inevitable that you’ll probably be you’ll spend on this bad boy. Entertainment unit: SKIMP! battling spills and stains around the I wouldn’t even look at a couch that’s You know how a model could wear a clock. less than AUD1,000. Trust me, you potato sack and still look amazing? That said, cheap rugs feel horrible won’t have it long. Or, you will have it That’s because your eye is drawn to underfoot. I’d let your tootsies do the for long, and it’ll just be exceptionally their beautiful mug, not what’s beneath talking here and find one that feels nice uncomfortable. it. It’s the same concept with your on your feet and works within your entertainment unit. Most of the time budget. The coffee table: SKIMP! you’ll be looking at your TV, not what By no means would I go high-end Any item that’s not built for comfort, it’s sitting on. here, but, if you can, try to avoid rugs or doesn’t have to hold a lot of weight, As long as it’s sturdy and your TV under AUD100 that’ll give you carpet can be skimped on. A coffee table is won’t fall off it, it’s budget all the way burn for days should you ever kneel on a perfect example of an item you can for this piece of furniture. them. pick up for a steal. When it comes to a coffee table, go Artworks: SPLURGE! wild in a discount store. Just keep an When it comes to art, you have to go eye on the finish of the table top (if it’s big, and you have to invest. Source: realestate.com.au

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HOW TO STYLE A KID’S ROOM WITHOUT IT LOOKING CHILD-LIKE

It’s not that you want your kids to be seen and not heard. Rather, you want their rooms to be able to evolve as quickly as they’re growing up.

No one wants to spend time and Use a pinboard less likely to get messy if everything money kitting out a bedroom full of These are budget-friendly and allow has a place. unicorns when the next minute they’re your kids to express their personality in obsessed with trucks and trains. a creative way. Build a reading oasis Finding the sweet spot where They’re also really easy to change Whether it’s a rug on the floor or a the space is changeable but still is a around so your kids can redecorate as comfy chair where you can sit together, reflection of everything your kids love often as they like. encouraging your child to read often is easy if you know how. will pay off in spades. Start in neutral Furnish up! Balancing out the colours in the Use budget-friendly shelves to create 1 - Wall shelving will keep their room – toys, books and clothes are a platform for the kid’s evolving tastes all colours of the rainbow – becomes and passions. passions high and the clutter at bay. easier when your starting point is Whether their shelving is loaded Picture: Getty neutral. with stuffed toys, video games or 2 - Choosing neutral bedding will leave

You’ll find styling the room easier craft supplies, your kids’ possessions a lot more space for colour in the rest to manage when you’ve got a neutral will have a home that’s not the floor. of the room. Picture: Three Birds background – and it’ll have more Don’t overlook how useful these Renovations longevity if their favourite colour can be when you ask them to clean changes every week. their rooms in a hurry. The room is Source: realestate.com.au

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12 SIMPLE TRICKS TO MAKE A SMALL LIVING ROOM FEEL BIG

Living small may be all the rage but claustrophobic spaces are not.

So how do you make your less- than-large living area feel comfortably spacious? We consulted the experts. Here’s what they had to say.

1: Only keep the essentials We’re all guilty of holding onto unnecessary stuff, so if your living room is feeling tight, it’s time to rid yourself of the junk. Just make sure the room still reflects ‘you’ – as you’ll be the one living there. 1 2

2: Avoid bulky pieces No matter how much you love that chunky Chesterfield, look to slimline pieces to furnish the space. “Thanks to Scandinavian design, slim, mid-century furniture design is on trend,” says Ross Clayton, founder of Vast Furniture and Homewares. “Use those athletic lines to keep it airy.”

3: Measure twice before you buy Remember, when it comes to furniture, it always looks smaller in the showroom. It’s a common mistake to buy furniture that’s too big for a space. People will try and squeeze in an eight-person dining table into a tiny apartment. 3 “If in doubt use the old cardboard mock-up on the floor,” Clayton says. “It’s 1 - Editing your collections will help you claim back some space. Picture: Denise Braki really about being honest with yourself 2 - Decorate with low contrast colour palettes. Picture: Denise Braki and the limitations of the room.”

3- Light and low is the way to go. Picture : Vast Furniture and Homewares

114 115 CONSUMER AWARENESS

4: Go for symmetry 8: Add a picture rail… & pictures but it’s more important to scale it Fact: A balanced room is technically Any opportunity to draw the eye down. One big couch will work better more beautiful and is therefore more upwards will detract from the size of than two smaller couches,” Bellef says. sympathetic to smaller spaces. the room. The same goes for artwork. “One Try placing a lamp and a plant stand “Try hanging a picture or painting of large piece of art will make a bigger of similar heights on either side of the an outdoor landscape – a panoramic statement in a small space.” room, a lounge in between, cushions beach or bush shot can trick the eye Source: realestate.com.au on either side of the lounge and a rug into thinking about faraway places,” in the middle. Clayton says. You don’t want it to look like a showroom, but this can be a good 9: Invisible(-ish) furniture place to start before you add flavour Lightweight and durable, rattan with more decorative pieces. furniture is easy to shift around the room – and thanks to baby boomer 5: Choose white & light trend forecasters, it’s cool again. Chapter one of home decorating Best of all though, it’s partially 101: Paint all the walls white and only invisible in a room. use light timber. The space will feel Clayton explains: “For very small instantly smaller, says Clayton. rooms, nothing beats rattan furniture. “Or, you can buck the trend, throw Because it’s not upholstered, you can out the gauntlet and bring on the light see right through it. In the furniture pastel!” game we call it 80% air.” Cherie Barber, founder of Renovating for Profit, says dark and 11. Multi-purpose furniture warm colours advance, where as light Choose furniture that serves more than 4 and cool colours recede. one purpose for small living spaces. For “That means a dark colour will tend instance a bench seat where you can to close in a small space, especially if it pull the top off and you’ve got a nice gets no natural light,” Barber says. hideaway space “It doesn’t mean you have to go for stark, clinical white. Any light neutral 10: Mirror, mirror colour will help make a space look Another tried-and-tested method to bigger.” make a room appear larger is to fool the eye with mirrors. 6: Easy does it “Play around with full-length Small rooms feel a lot smaller when mirrors,” suggests Bellef. “Try a you can’t access them easily. freestanding mirror that leans against “Creating obstructions or a clumsy the wall to elongate the height of the flow of traffic is a sure way to throw room, too.” away valuable space,” Barber says. “Don’t forget the space a swinging 11: Try feature lighting door can take up, so think about a Again, focus on drawing the eye 5 sliding or cantilevered door.” upward with feature lighting. A pendant light, for example, can 7: Go surround with your sound force people’s attention away from 4 - Multi-purpose furniture earns its Small rooms have awesome acoustics, eye-level and give a real sense of the position in your living room by working so introduce hidden Bluetooth entire room. overtime. Picture: Denise Braki.

speakers that don’t take up any space. 5 - Why stop at mirrors? Try mirrored “Music adds that extra dimension to 12: Less but bigger furniture. Picture: Natalie Hunfalvay create a sanctuary,” Clayton says. “The Guess what? Big is not always bad in a smaller the room, the better. Surround small room. sound can create a feeling of space.” “It’s good to have compact furniture

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OUT OF THE BOX: WALL ART THAT’S NOT A FRAMED PICTURE

Here’s a thought, wall art doesn’t always have to be framed print. Say what?

1 2

Pretty much any object you can 2. Macrame think of can be mounted onto a wall After finding its footing in the 1970s, – you just need the right screws and macrame came back onto the interiors hooks. Then there are murals, mirrors, scene a few years ago. signs and collages… the list goes on. The hangings add a dash of Here are 8 wow-factor alternatives to bohemian beauty to the starkest conventional wall art. modern spaces, working beautifully with plants or clustered with other 1. Murals artworks. For an all-encompassing effect, you can’t go past an artist- 3. 3D objects commissioned mural. Just make sure Have you ever attempted layering 3D it fits with your home’s style and objects on your walls? The Designory’s space. Head Designer Margo Reed swears When the Director of vintage by this trick: One of her favourite wall furniture directory That Retro Piece, decals is actually a hanging Christmas Stan Savellis, discovered the Austin decoration. Powers-esque, time-warp wall mural In the home of Sydney illustrator in his yet-to-be-purchased Sydney Carmen Hui, you’ll find plenty of found 3 home, he couldn’t believe his luck. objects adorning the walls. This giant

PB 117 CONSUMER AWARENESS

Pepsi-Cola lid was a market find from 7. Mirrors Japan and takes pride of place below For an all-encompassing effect, you 1 - A match made in mid-century the stairs. can’t go past an artist-commissioned heaven. Picture: Julie Crespel mural. Just make sure it fits with your 4. Sculpture home’s style and space. 2 - Bring neon wool into your A wall-mounted sculpture can really When the Director of vintage macrame design, or stick with bring your walls to life – literally! Go for furniture directory That Retro Piece, untreated wool for a more raw feeling. a glitzy, Miami-mansion look with brass Stan Savellis, discovered the Austin Picture: Tamara Graham giraffe heads, or tribal with wood- Powers-esque, time-warp wall mural in 3- Try hanging crystals or ornaments carved elephants, as in the home of his yet-to-be-purchased Sydney home, off your antlers to add another layer. artist Lara Scolari, below. he couldn’t believe his luck. Picture: Jeremy Simons 5. Clocks 8. A collage 4 - Far left: Christmas decoration from Just because it’s a functional item, Go one better than your teen bedroom The Designory’s homewares store, doesn’t mean a clock can’t be beautiful cork board – yep, you know the one The Design Hunter. Picture: Jeremy and make a statement, too. These with the netball premiership flag and Simons vintage wall clocks do exactly that numerous pictures of your friends 5- Wood-carved sculpture can bring – and adorn the bedroom walls of – and create a collage inspiration a sense of worldliness to your walls. vintage furniture lover and second- board, with style. Think Polaroids of hand store owner, Stan Savellis. people and places you love, important Picture: Tamara Graham everyday reminders – and even some 6. Signs of your fave jewellery. If you’ve never been one to shy away from colour, then neon signs may be your perfect form of wall art. Still-life stylist Adam Powell has an obsession with neon – and his home is a veritable shrine to the stuff. Source: realestate.com.au 5

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118 PB CLASSIFIEDS

PROPERTY BELOW RM500K Kepong, Suria Kipark Damansara, Condominium, SALE, RM 329,000, 3r2b, BU948sqf, Christina Lim, 012-585 6885, REN:19208, E(3)1638, UP5461342

Kepong, Suria Kipark Damansara, Kepong, Suria Kipark Damansara, Cheras, Pangsapuri Waja, Apartment, SALE, RM 210,000, 3r2b, BU820sqf, William Loh, 012-692 Condominium, SALE, RM 340,000, 3r2b, Condominium, SALE, RM 350,000, 3r2b, 7738, REN:01623, E(3)1612, UP5405692 BU976sqf, Christina Lim, 012-585 6885, BU947sqf, Christina Lim, 012-585 6885, REN:19208, E(3)1638, UP5461500 REN:19208, E(3)1638, UP5461443

Cheras, Pangsapuri Wira, Batu 9Th Cheras, Apartment, SALE, RM 238,000, 3r2b, BU820sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5405682

Selayang, 162 Residency, Condominium, SALE, RM 318,000, 3r2b, BU875sqf, Jay Ye, 017-336 3384, REN:11138, E(1)1321/8, UP3626629

Selayang, 162 Residency, Condominium, SALE, RM 318,000, 3r2b, BU885sqf, Jay Ye, 017-336 3384, REN:11138, E(1)1321/8, UP4346512

Kepong, Plaza Medan Putra, Kuala Lumpur, Condominium, SALE, RM 395,000, 3+1r2b, BU909sqf, Jay Ye, 017-336 3384, REN:11138, E(1)1321/8, UP5226094

Subang Bestari, subang murni ,, 2-sty Terrace/Link House, SALE, RM 488,000, 4r3b, LA18x65sqf, Alice Lim, 012-923 1025, REN:13342, E(1)1215/9, New free hold house nearby Setia Alam at Klang, 2-sty Terrace/Link House, SALE, RM 499,999, UP3061647 4r3b, BU1800sqf, LA20x70sqf, Rain Chung, 016-614 9173, E(3)1663, UP5316882

Old Klang Road, OUG Parklane, Condominium, PROPERTY @ KLANG RENT, RM 1,200, 3r2b, BU950sqf, Celvin Leong, VALLEY 012-326 3129, E(1)1584, Setapak, Platinum Hill PV 3, Condominium, UP5414912 SALE, RM 430,000, 4r2b, BU1272sqf, Joyce Chee, 018-243 7820, E00000, UP5409358

PB 119 KL City, Suasana Bukit Ceylon / Raja Chulan Residences, Persiaran Raja Chulan, Condominium, RENT, RM 2,500, 1r1b, Serdang, Putra Indah Condominium, Seri BU742sqf, Ben Lee, 012- Ampang, The Elements, Jalan Ampang, Kembangan, Condominium, RENT, RM 226 0120, REA:E2345, Condominium, RENT, RM 2,000, Studior1b, 1,800, 3+1r2b, BU1600sqf, Angye Ng, 6012- E(1)1489, UP2924996 BU750sqf, Linda Ooi, 012-236 3065, E (1) 512 9662 / 6017-300 6665, REN:07928, 0501/14, UP3423635 E(1)1501, UP5462043

KL City, Suasana Bukit Ceylon / Raja Chulan Residences, Persiaran Raja Chulan, Condominium, RENT, RM 4,200, 3r2b, BU1281sqf, Ben Lee, Ampang, M city, Service Apartment, 012-226 0120, REA:E2345, KL Sentral, The Sentral Residences, RENT, RM 2,700, 2r2b, BU900sqf, Robert E(1)1489, UP2783110 Condominium, RENT, RM 5,000, 1+1r2b, Chuan, 012-387 9187, REN:21983, E00000, BU1087sqf, Lim Ting Xuan, 016-209 5888, UP5378922 REN:06763, E(1)1439, UP5431182

Kepong, Plaza Menjalara, Bandar Sri Kepong, Plaza Menjalara, Bandar Sri Rawang, Factory, RENT, RM 23,000, Menjalara, Condominium, SALE, RM Menjalara, Condominium, SALE, RM Kepong, 1-sty Terrace/Link House, SALE, BU18000sqf, LA27500sqf, Pauline Tong, 550,000, 3r2b, BU960sqf, Christina Lim, 660,000, 3r2b, BU1260sqf, Christina RM 670,000, 3r2b, LA22x75sqf, Kent 012-682 0892, E(3)1141, UP5417647 012-585 6885, REN:19208, E(3)1638, Lim, 012-585 6885, REN:19208, E(3)1638, Goey, 012-297 2957, E(1)1670, UP5444786 UP5362303 UP5396837

Salak Selatan, salak south garden, 1.5-sty City Centre, Setia SKY Residences, City Terrace/Link House, SALE, RM 750,000, centre, Condominium, SALE, RM 900,000, 4r2b, BU1273sqf, LA1391sqf, Elvie Ho, 2+1r3b, BU1055sqf, LA1055sqf, Marcus 012-303 3788, REN:22102, E(1)0452/1, Yee, 016-561 9596, REN:07229, E(3)0812, UP5410622 UP2019761

City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City centre, Condominium, SALE, RM 750,000, Studior1b, centre, Condominium, SALE, RM 900,000, centre, Condominium, SALE, RM 910,000, BU614sqf, LA614sqf, Janie Lee, 012-658 8058, E(1)1307/1, UP4531058 3+1r3b, BU1055sqf, Angeline Liew, 6013- 2+1r3b, BU1055sqf, Angeline Liew, 6013- 227 3218, E(3)0812, UP4248954 227 3218, E(3)0812, UP3510839

Bukit Jalil, Covillea, Condominium, SALE, RM 795,000, 3+1r3b, BU1503sqf, Thomas Tham, 016-302 6860, E(3)1612, UP5100846

City Centre, Setia SKY Residences, City Centre, Setia SKY Residences, City centre, Condominium, SALE, RM Bandar Menjalara, Menjalara 18, Condominium, SALE, RM 799,000, 3b, BU1316sqf, LA1316sqf, City centre, Condominium, SALE, RM 1,000,000, 2+2r3b, BU1281sqf, Marcus Catherine Wong, 012-492 9657, E(3)1046, UP4441717 1,000,000, 2+2r3b, BU1281sqf, Angeline Yee, 016-561 9596, REN:07229, E(3)0812, Liew, 6013-227 3218, E(3)0812, UP4210244 UP2418455

KL City, Suasana Bukit Ceylon / Raja Chulan Residences, Persiaran Raja Chulan, Condominium, SALE, RM 1,150,000, City Centre, Setia SKY Residences, 3r2b, BU1281sqf, Ben Lee, City Centre, Setia SKY Residences, City centre, Condominium, SALE, RM 012-226 0120, REA:E2345, City centre, Condominium, SALE, RM 1,060,000, 2+2r3b, BU1313sqf, LA1313sqf, E(1)1489, UP3922001 1,100,000, 2+2r4b, BU1313sqf, Angeline Marcus Yee, 016-561 9596, REN:07229, Liew, 6013-227 3218, E(3)0812, UP4551038 E(3)0812, UP2829124

120 121 CLASSIFIEDS

KLCC, myHabitat, City Centre KLCC, Condominium, SALE, RM 1,180,000, 3+1r2b, BU1259sqf, Ben Lee, City Centre, Setia SKY Residences, City 012-226 0120, REA:E2345, Bandar Utama, BU10, 2-sty Terrace/ centre, Condominium, SALE, RM 1,180,000, E(1)1489, UP5340244 Link House, SALE, RM 1,400,000, 4r3b, 3+1r4b, BU1701sqf, Marcus Yee, 016-561 BU2000sqf, LA22x75sqf, Grace Lee, 9596, REN:07229, E(3)0812, UP3711537 012-379 1298, REN:03996, E(1)0452/9, UP5314735

City Centre, Setia SKY Residences, City Centre, Setia SKY Residences, City centre, Condominium, SALE, RM City centre, Condominium, SALE, RM 1,250,000, 3+1r4b, BU1701sqf, LA1701sqf, 1,288,000, 3+1r4b, BU1701sqf, Angeline Marcus Yee, 016-561 9596, REN:07229, Liew, 6013-227 3218, E(3)0812, UP4536081 E(3)0812, UP2424854

Seri Kembangan, PUNJAK JALIL, SERI Ampang, D’Rapport, Service Apartment, KEMBANGAN, EQUINE PARK, Shop, Seri Kembangan, Jalan sp 2/1, serdang perdana , Shop, SALE, RM 1,400,000, 2+1r1b, BU3106sqf, SALE, RM 1,388,000, BU1613sqf, Florence SALE, RM 1,450,000, BU1900sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5098847 Chin, 017-307 0809, REN:18762, E(3)0256, LA24x80sqf, Kylie Wong, 017-667 2799, UP5403625 E(3)0465/1, UP4946224

KL City, Suasana Bukit Ceylon / Raja Chulan Residences, Persiaran Raja Chulan, Condominium, SALE, RM 1,500,000, 3+1r3b, BU1582sqf, Ben Lee, 012-226 0120, REA:E2345, E(1)1489, UP4972399

Bandar Utama, BU7, 2-sty Terrace/Link KL Sentral, The Sentral Residences, Ampang, Duta Suria , 3.5-sty Terrace/Link House, SALE, RM 1,680,000, 5r6b, BU3000sqf, House, SALE, RM 1,550,000, 4+1r3b, Condominium, SALE, RM 1,980,000, Andrew Yap, 012-351 2880, REN:4548, E(1)1197/11, UP5440891 BU2800sqf, LA23x75sqf, Grace Lee, 2+1r3b, BU1485sqf, Betty Gill, 012-384 012-379 1298, REN:03996, E(1)0452/9, 8142, REN:02341, VE10099, UP5415934 UP5330262

Mont Kiara, Semi- detached House, SALE, RM 2,600,000, 4+1r4b, BU4079sqf, Asyraf Khan, Cyberjaya, TAMARIND SQUARE. Sepang, Bandar Baru Salak Tinggi, Semi- 017-297 2487, REN:20389, CYBERJAYA, Retail-Office, SALE, RM detached House, SALE, RM 2,590,000, E(3)1120/1, UP5453007 2,400,000, BU3500sqa, LA14.54sqa, 6r5b, BU7000sqf, LA6135sqf, Mohd Kung Wong, 012-202 0178, REN:07270, Khairool Bin Buruhan, 012-248 2805, VE(1)0105, UP2189809 E(3)0205, UP5427310

Kelana Jaya, SS 5, Semi-detached House, KLCC, Banyan Tree, Klcc, Condominium, SALE, RM 2,800,000, 6r7b, BU4146sqf, SALE, RM 3,570,000, 3r3b, BU1786sqf, LA6465sqf, Jik Wafa, 012-650 8411, Celest Ng, 016-268 8731, E(3)0256, REN:03673, E(1)1448, UP5128589 UP5377403

Ampang Hilir, Nobleton Crest, Taman Bukit Bintang, Verticas Residensi, U-Thant, Condominium, SALE, RM Kajang, COUNTRY HEIGHTS KAJANG, Bungalow House, SALE, RM 2,800,000, 5+1r6b, Bukit Ceylon, Condominium, SALE, RM 3,300,000, 4+1r4b, BU3563sqf, Daniel BU4900sqf, LA6545sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5331891 3,800,000, 7r7b, BU3897sqf, Daniel Tong, Tong, 012-639 2689, REN:06986, E(3)1657, 012-639 2689, REN:06986, E(3)1657, UP5364614 UP5429131

120 121 Old Klang Road, Medan Klang Lama 28, Shop-Office, SALE, RM 6,000,000, BU6735sqf, LA1430sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5312115

Country Heights, COUNTRY HEIGHTS KAJANG, Bungalow House, SALE, RM 4,200,000, 7+1r4b, BU6000sqf, LA19563sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5319984

KL City, Jalan Loke Yew, Shop, SALE, RM 8,000,000, 1r5b, BU17000sqf, LA44x100sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5347072

Semenyih, Semenyih Sungai lalang villaraya hi tech, Industrial Land, SALE, RM 8,440,000, LA4.84sqa, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5388423

Mutiara Damansara, Surian Residences, Condominium, RENT, 4+1r5b, BU1900sqf, Clement Chan, 6013-338 1728, REN:16353, E(1)1307, UP5352272

Country Heights Damansara, Bungalow House, SALE, RM 12,800,000, 7+1r8b, BU15000sqf, LA10742sqf, Janice Har, 6012-323 2752, Ampang Hilir, U-Thant, Bungalow House, SALE, RM 50,000,000, 8+1r10b, BU22000sqf, E(3)1092, UP5067491 LA30000sqf, Carl Friis, 012-286 5586, REN:01695, E(1)1007, UP5221677

PROPERTY OUTSIDE KLANG VALLEY Seri Kembangan, mines city resort, Country Heights, country height, Kuala Langat, Bandar Jugra, Agricultural Bungalow House, SALE, RM 7,500,000, Bungalow House, SALE, RM 8,200,000, Land, SALE, RM 5,640,000, LA11.28sqa, 10+1r11b, BU18500sqf, LA9240sqf, Tony 9r10b, BU22500sqf, LA20010sqf, Tony Ling Yean, 6012-235 2168, REN:01244, Lee, 6012-378 8212, REN:17619, E(1)1476, Lee, 6012-378 8212, REN:17619, E(1)1476, E(3)1204, UP5374561 UP2852994 UP3055773

Masai, Taman Sierra Perdana , Jln Sierra Johor Bahru, 1Medini, Nusajaya, Skudai, D’secret Garden @ Kempas Indah, Ulu Tiram, Taman bestari Indah, 2-sty Perdan, 1.5-sty Terrace/Link House, Condominium, RENT, RM 1,700, 2r1b, Nick Serviced Residence, RENT, RM 1,550, 3r2b, Terrace/Link House, SALE, RM 478,000, SALE, RM 438,000, 3r2b, BU2600sqf, Ng, 016-791 9888, REN:11562, E(3)0795, BU1042sqf, Ang Liang, 016-297 9991, 3+2r5b, LA22x80sqf, Ang Liang, 016-297 LA2600sqf, Bryan Tay, 013-751 3558, UP4426780 E(1)1307/4, UP5277075 9991, E(1)1307/4, UP5352677 VE(1)0266, UP5464609

122 123 CLASSIFIEDS

Skudai, Taman Impian Emas, Semi-detached House, SALE, RM 1,180,000, 5r3b, LA40 X 80sqf, Tomato Loh, 019- 750 5088, REN:00425, E(3)0928, UP5425068

Johor Bahru, BANDAR DATO ONN, 2-sty Terrace/ Link House, SALE, RM 580,000, 4r3b, BU1740sqf, LA20x70sqf, Denny Ng, 016-505 6167/011-264 33481, E(1)1307/4, Pontian, Benut, Commercial Land, SALE, RM 1,165,000, BU46609sqf, LA46609sqf, Tomato Loh, UP5438012 019-750 5088, REN:00425, E(3)0928, UP5072359

Benut, Commercial Land, SALE, RM 3,267,000, BU130680sqf, LA130680sqf, Tomato Loh, 019- Iskandar Puteri (Nusajaya), Somerset Puteri Harbour, Nusajaay, Condominium, RENT, RM 4,000, 750 5088, REN:00425, E(3)0928, UP5366152 3r2b, BU1507sqf, JP Lee, 016-796 7907, REN:15639, E(3)0050/26, UP5191779

Kulai, ioi kulai, Bungalow House, SALE, RM 888,888, 4r4b, BU2924sqf, LA2720sqf, Liew VS, 6016- Plentong, Sierra perdana, 2-sty Terrace/Link House, SALE, RM 789,000, 6r5b, BU4560sqf, 766 6138, E (3) 1248, UP5447721 LA4988sqf, Nicholas Sia, 010-532 4161, REA:17074, E(1)1491, UP5444205

Horizon Hills, 2-sty Terrace/Link House, SALE, RM 738,800, 4r3b, BU2111sqf, LA1400sqf, JP Lee, Horizon Hills, 2-sty Terrace/Link House, RENT, RM 3,200, 4+1r5b, BU2573sqf, LA34x75sqf, JP Lee, 016-796 7907, REN:15639, E(3)0050/26, UP5189137 016-796 7907, REN:15639, E(3)0050/26, UP5179728

122 123 Klebang, Marina Point, Kota Bharu, Anjung Vista, Malacca New Launch, Kubang Kerian, Apartment, Tanjong Kling,, Retail SALE, RM 275,000, 1r1b, Space, SALE, RM 190,000, BU482sqf, Mohd Aswadi BU147sqf, Angye Ng, Bin Abdullah, 013-928 6012-512 9662 / 6017-300 1781, REN:22119, E00000, 6665, REN:07928, E(1)1501, UP5339815 UP5462077

Nilai, Nilai Spring Condo, Service Nilai, Starz Valley, Condominium, SALE, Nilai, Mesahill, Condominium, RENT, Nilai, Sky Bungalow, Condominium, SALE, Apartment, SALE, RM 220,000, 1r1b, RM 345,000, 2r1b, BU720sqf, Athena Cho, RM 1,200, 2r2b, BU650sqf, Athena Cho, RM 310,000, 2+1r2b, BU734sqf, Anna Lau, BU455sqf, Anna Lau, 6012-866 1994, 6011-1239 7739, REN:23309, E00000, 6011-1239 7739, REN:23309, E00000, 6012-866 1994, E(3)0812, UP5206163 E(3)0812, UP5451629 UP4510689 UP5271423

Nilai, Mesahill, Condominium, RENT, RM 1,500, 2r2b, BU650sqf, Athena Cho, 6011-1239 7739, REN:23309, Nilai, Mesahill, Condominium, RENT, Nilai, Mesahill, Condominium, RENT, E00000, UP5338218 RM 1,550, 3r2b, BU850sqf, Athena Cho, RM 850, 1r1b, BU350sqf, Athena Cho, 6011-1239 7739, REN:23309, E00000, 6011-1239 7739, REN:23309, E00000, UP5271450 UP5338193

Nilai, Mesahill, Condominium, RENT, RM 1,500, 2r2b, BU650sqf, Athena Cho, 6011-1239 7739, REN:23309, Nilai, Nada Alam,Pajam,KLIA,LCCT, 2-sty Nilai, Mesahill, Condominium, SALE, RM E00000, UP5338218 Terrace/Link House, SALE, RM 460,000, 200,000, 1r1b, BU350sqf, Athena Cho, 4r4b, BU2200sqf, LA20X70sqf, Athena 6011-1239 7739, REN:23309, E00000, Cho, 6011-1239 7739, REN:23309, E00000, UP5271430 UP4638721

Nilai, Taman Desa Mayang Sari , Nilai, Mesahill, Condominium, RENT, KLIA,LCCT, 2-sty Terrace/Link House, RM 1,900, 3r2b, BU850sqf, Athena Cho, SALE, RM 490,000, 4r4b, BU2000sqf, 6011-1239 7739, REN:23309, E00000, LA20X65sqf, Athena Cho, 6011-1239 7739, UP5338239 REN:23309, E00000, UP4820087

Tanjong Tokong, Fettes Residence, Nilai, Taman Desa Seringin,Nilai 3,Nilai Nilai, Nilai Impian, Service Apartment, SALE, RM 228,000, 1r1b, BU455sqf, Anna Lau, 6012-866 Condominium, SALE, RM 2,200,000, Impian, 2-sty Terrace/Link House, 1994, E(3)0812, UP5448184 4+1r4b, BU2400sqf, Carmen Tang, SALE, RM 440,000, 4r3b, BU2100sqf, 6012-557 9093, REN:02105, E(1)0232, LA22X70sqf, Athena Cho, 6011-1239 7739, UP5406270 REN:23309, E00000, UP5104141

Raub, Sg.Klau Land, Agricultural Land, SALE, RM 1,600,000, LA7.6Acressqf, Thomas Tham, 016- Cameron Highlands, Tanah Rata, Cameron Highlands, Bungalow House, SALE, RM 2,880,000, 302 6860, E(3)1612, UP5418079 5r6b, BU4460sqf, LA5500sqf, William Loh, 012-692 7738, REN:01623, E(3)1612, UP5394019

124 125 CLASSIFIEDS

Butterworth, Wellesley Residences, Condominium, SALE, RM 420,000, 2r2b, BU900sqf, SH Koay, 011-1095 8731, E(3)0256, Butterworth, Woodsbury Suites, UP5195989 Sungai Ara, Reflections Condominium, Condominium, RENT, RM 1,800, 2r2b, Condominium, SALE, RM 718,000, 3r2b, BU918sqf, SH Koay, 011-1095 8731, BU1449sqf, Mark Tan, 6017-475 3381, E(3)0256, UP5419211 REN:19778, E(1)1052, UP5439983

Gelugor, The View Condominium, Condominium, SALE, RM 1,100,000, 3r3b, BU2594sqf, Felicia Poh, 012-406 9608, REN:08359, E(1)1525/2, UP4747241

Butterworth, Woodsbury Suites, Condominium, SALE, RM 298,000, Studior1b, BU550sqf, Samuel Yeoh, 012-458 2179, E(3)1603, UP5424570

Tanjung Bungah, Villa Ria Apartment, Tanjong Bungah, Condominium, SALE, RM 1,350,000, 3r2b, BU1200sqf, Mallika H’ng, 6012-583 7623, E(1)1480/1, UP5067897

Juru, Semi-detached House, SALE, RM 588,000, 4r, BU1920sqf, LA2600sqf, Samuel Yeoh, 012- 458 2179, E(3)1603, UP5437143

Georgetown, Jalan Skipton, Bungalow House, SALE, RM 4,500,000, 7r6b, LA7825.4sqf, Mallika H’ng, 6012-583 7623, E(1)1480/1, UP5384620

Kota Kinabalu, Taman Rimba Kota Kinabalu, 2-sty Terrace/Link House, SALE, RM 460,000, 3+1r3b, BU1576sqf, LA1468sqf, Abby Tan, 017-261 6216, REN:20757, E(3)0637, Seberang Jaya, 2-sty Terrace/Link House, SALE, RM 565,000, 4r3b, BU1800sqf, LA1300sqf, UP5257168 Samuel Yeoh, 012-458 2179, E(3)1603, UP5437079

Kota Kinabalu, Taman Austral Park, Bungalow House, RENT, RM 1,800, 3+1r3b, LA6300sqf, Agnes Mah, 016-805 0900, Tanjung Bungah, Mira Residence, Tanjong Tanjung Bungah, Semi-detached House, REN:11586, VE(3)0221, Bungah, Condominium, RENT, RM 3,100, SALE, RM 2,280,000, 5r3b, BU3870sqf, UP5441569 3+1r3b, BU1635sqf, Eugene Lee, 016-443 LA3000sqf, Mallika H’ng, 6012-583 7623, 8933, REN:00901, E(1)1052/4, UP5457114 E(1)1480/1, UP4992813

124 125 Kota Kinabalu, The Peak SOHO, Soho, RENT, RM 2,800, 1+1r1b, BU639sqf, Abby Tan, 017-261 6216, REN:2 0757, E(3)0637, UP5461945

Batu Ferringhi, Bungalow House, SALE, RM 3,950,000, 4+1r5b, BU4600sqf, LA3850sqf, Mallika H’ng, 6012-583 7623, E(1)1480/1, UP2356674

Penampang, Taman Winning Penampang, Bungalow House, SALE, RM 3,000,000, 4+2r4b, BU5600sqf, LA8490sqf, Abby Tan, 017-261 6216, REN:20757, E(3)0637, Butterworth, 2-sty Terrace/Link House, SALE, RM 628,000, 4r3b, BU1800sqf, LA2400sqf, Samuel UP5464965 Yeoh, 012-458 2179, E(3)1603, UP5437113

Shah Alam, Semi-detached House, SALE, RM 850,000, 6r3b, BU2500sqf, SHAH ALAM LA4500sqf, CK Chue, Penampang, Taman Milek Ph 1, Lintas, 012-219 7566, REN:07699, Semi-detached House, SALE, RM E(1)1112, UP5399475 1,130,000, 6r4b, BU2500sqf, LA3600sqf, Abby Tan, 017-261 6216, REN:20757, E(3)0637, UP5452203

Bandar Kinrara, Puchong, Residential Land, SALE, RM 2,848,300, PUCHONG BU10955sqf, Hidi Ong, 012-391 9513, REN:13819, E(1)0452/18, UP5398750 Puchong, Sri Cempaka, Apartment, RENT, 3r2b, BU810sqf, Abbey Yap, 019-689 0772, REN:04454, E(1)0452/8, UP2450538

Puchong, Shop-Office, SALE, RM 5,400,000, BU9900sqf, LA44X75sqf, Florence Chin, 017-307 CHERAS 0809, REN:18762, E(3)0256, UP5410139 Cheras, Windows On The Park, Batu 9Th Cheras, Condominium, SALE, RM 630,000, 3r2b, BU916sqf, LA916sqf, Janie Lee, 012- 658 8058, E(1)1307/1, UP4555701

Cheras, bukit tiara, Bungalow House, SALE, RM 14,500,000, 16r20b, BU28000sqf, LA18137sqf, Cheras, Shamelin Star, Serviced Residence, SALE, RM 620,000, 3r2b, BU871sqf, Steven Tee, 017- Elvie Ho, 012-303 3788, REN:22102, E(1)0452/1, UP5450849 772 2516, E(3)1202, UP5464968

126 127 CLASSIFIEDS

Cheras, Taman Connaught, Cheras, taman midah, 2-sty 2-sty Terrace/Link House, Terrace/Link House, SALE, SALE, RM 880,000, 4r3b, RM 1,180,000, 5+1r5b, BU2300sqf, LA26x75sqf, BU2776sqf, LA3078sqf, Jesnin Kee, 6019-387 7298, Elvie Ho, 012-303 3788, REN:01550, E(1)0452/6, REN:22102, E(1)0452/1, UP5379826 UP5385968

Petaling Jaya, Cameron Towers, Gasing Heights, Condominium, SALE, PETALING JAYA RM 740,000, 3+2r3b, BU1826sqf, Terry, 016- Bandar Sunway, Pangsapuri Lagoon 262 9218, REN:06538, Perdana, Apartment, RENT, RM 800, 3r2b, E(3)1249, UP5132947 BU852sqf, Michael Ng, 012-219 9541, E (1) 1371, UP4061342

Petaling Jaya, Cameron Towers, Condominium, SALE, RM 520,000, 3r2b, BU1146sqf, Terry, 016-262 9218, REN:06538, E(3)1249, UP5363875

Petaling Jaya, Cameron Towers, Condominium, SALE, RM 698,000, 3+1r2b, Terry, 016-262 9218, REN:06538, E(3)1249, UP5429466

Petaling Jaya, Jalan Semangat, Commercial Land, SALE, RM 67,000,000, LA132071sqf, Ling Yean, 6012-235 2168, REN:01244, E(3)1204, UP4887065 Taman Tun Dr Ismail, Menara LGB, Office, RENT, RM 78,000, BU13000sqf, Victor Lim, 6019-280 2788, REN:09135, E(1)1197, UP2217868

Bangsar, Nadi Bangsar Service Residence, Condominium, RENT, BANGSAR RM 4,000, 1+1r1b, BU689sqf, Caren Wong, Taman Tun Dr Ismail, 2-sty Terrace/ 016-282 3223, REN:22846, Link House, SALE, RM 1,440,000, 5r3b, E(3)1437, UP5401604 BU2288sqf, LA1800sqf, M Jamil Ali, 012-289 2366, REN:03920, E(1)1697, UP5366495

Bangsar South, The Park Residences, Condominium, SALE, RM 1,198,880, 2+1r2b, BU1260sqf, FP Ng, 010-406 8949, PEA:1162, E(3)1092, UP5193269

Bangsar, Bungalow House, SALE, RM 10,500,000, 4+1r6b, BU12626sqf, LA11614sqf, Sharon Lim, 012-931 0666, REN:12916, E(1)1492, UP5097290 Bangsar, Bukit Pantai , Bungalow House, SALE, RM 5,800,000, 7+1r5b, BU5800sqf, LA9000sqf, Jesnin Kee, 6019-387 7298, REN:01550, E(1)0452/6, UP5225548

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