MAKE BETTER DECISIONS

FRIDAY OCTOBER 16, 2015 ISSUE 2026/2015

A PULLOUT EVERY FRIDAY WITH

Read this copy online @ theedgeproperty.com MAKE BETTER DECISIONS PP 9974/08/2013 (032820)

BUDGET 2016 WISH LIST ep4 NEWS ep6 NEWS ep12 FEATURE ep14 FEATURE Budget 2016 should Penang’s fi rst premium Student rent shines A window on the focus on fi rst-time outlet mall to open in gloomy market natural world homebuyers ahead of schedule ’S not too far away

With the mass (MRT) - Check out a video due for completion in 2017, Kajang, , is expected of this hot spot at www. theedgeproperty.com to be an increasingly viable place to live. Th e area is set and see current listings for this area on to have three MRT stations — at , Market Watch EP10. Bandar Kajang and Jalan Reko. See story on Pages ep8 & 9.

KENNY YAP/THE EDGE PROPERTY FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS

ON NEWS ROUNDUP Go to theedgeproperty.com for more listings

Khazanah takes up space at opportunity to purchase Rumawip Shopping about RM83.6 million according to at www.theedgeproperty.com The Shard houses being off ered at signifi cantly Centre to make way for MRT the its filing with Bursa Malaysia’s sovereign wealth fund below market price. station on Oct 12. Khazanah Nasional Bhd will take Glomac’s wholly owned subsidi- up space in Th e Shard in London’s Prima mall ary, Glomac Maju Sdn Bhd, entered South Bank, according to a London up for sale into a sale and purchase agreement Evening Standard report. with PR1MA for the disposal on Oct 9, Khazanah is said to be among 10 which it said would allow it to unlock tenants of Th e Shard, the tallest in the parcel’s potential value, generate western Europe, which has a 90% income and increase opportunities occupancy rate for its offi ce space. for immediate and/or future acqui- Rental rates at the building are as sitions of more strategic landbank. Spotlight on high as £90 (RM579) per square foot Th e parcel was bought by Glomac Eco World’s per year, according to the Financial in 2004 for RM18.04 million. Its net Times which reported in August that Ampang Park Shopping Centre, the book value is RM35.53 million. Liew Tian IT fi rm Leonteq had signed up as a oldest shopping centre in Kuala Lum- Glomac Maju expects proceeds Xiong tenant for the 26th fl oor at that price, Seremban Prima (formerly Seremban pur, will soon be demolished to make from the disposal to be utilised for a new record in rental rates for that Parade), a shopping centre on Jalan way for the Ampang Park Mass Rapid future acquisitions of landbank, and part of London. Dato Bandar Tunggal, Seremban, is Transit (MRT) Station. to fi nance payment of bank borrow- Th e Shard, at 310 metres and 87 up for sale, reported Th e Edge Fi- Mass Rapid Transit Corporation ings, working capital and land-relat- storeys, is in Southwark and forms nancial Daily on Oct 13. Sdn Bhd (MRTCorp) strategic com- ed expenses. part of the London Bridge Quarter Knight Frank Malaysia had re- munications and public relations development. cently called for bids on the 19-year- director Datuk Najmuddin Abdul- PHB to revive plans for former Th e Evening Standard reports that old property, the bidding ends on lah said the land currently occupied Unilever land in “the arrival of the Malaysians, who Nov 6. by the shopping centre is being ac- Pelaburan Hartanah Bhd (PHB) in- had RM145.5 billion (£23 billion) of Th e mall was refurbished in 2014 quired by the government under the tends to revive its plans for a mixed- MIEA assets under management last year, and renamed Seremban Prima, ac- Land Acquisition Act 1960 for the use development on a prime parcel celebrates will come as a shot in the arm to the cording to Knight Frank executive purpose of constructing the MRT of land in Bangsar, , property world as the fund looks director James Buckley. It is jointly Sungai Buloh-Serdang- where Unilever Malaysia’s headquar- excellence in to diversify its holdings away from owned by Allstones Seremban Pte Line (SSP Line). ters and factory were previously lo- the industry Malaysia, China, India, and the US”. Ltd (ASPL) and a foreign invest- “Specifi cally, the land is required cated. ment fund. for construction of the underground It is learnt that PHB is currently KL City Hall says most occu- ASPL is an associate company Ampang Park Station, which has to seeking ’s pants of its public housing of Allstones Group Asia Sdn Bhd be in that location for it to be phys- (DBKL) planning permission to com- can aff ord to move (AGA). AGA development man- ically integrated with the existing mence work on the 19.6-acre parcel Kuala Lumpur City Hall (DBKL) agement arm, Blackstone DM Sdn Ampang Park LRT Station. Construc- located near the intersection of Jalan housing committee chairman Da- Bhd, was the development manager tion of the underground station will Bangsar and Jalan Maarof. tuk Rizalman Mokhtar has advised for the asset enhancement works require structures on the surface to Th e parcel is one of the in Bang- occupants of old People’s Housing on the mall. be demolished,” he said. sar, and is bordered by Jalan Riong The Edge Communications Sdn Bhd (266980-X) Projects (PPR) and Public Housing Seremban Prima is a seven-sto- Land ownership records show and Jalan Tanduk. PHB submitted a Level 3, Menara KLK, No 1 Jalan PJU 7/6, Projects (PPA) to upgrade to aff orda- rey building with a total gross fl oor there are 253 strata titles for Ampang fresh proposal to DBKL in June after , 47810 , ble homes. Th is will allow them to area (GFA) of 499,066 sq ft and a net Park. MRT Corp, as owner and de- shelving its initial development plans Selangor, Malaysia help 60,000 public housing appli- lettable area (NLA) of 321,800 sq veloper of the SSP Line Project, will three years ago. cants get accommodation. ft. It is managed by Henry Butcher meet the land owner and all other Given the increase in the price of Publisher and Group CEO Ho Kay Tat He said most PPR and PPA resi- Malaysia Sdn Bhd and is currently parties aff ected by the acquisition. real estate over the past three years, dents earned way above the RM3,000 74% occupied. It also has planning “MRT Corp hopes that the process the gross development value of the Editorial a month threshold for public hous- approval for a 250-room hotel with a will be completed by the middle of project is likely to be higher than the For News Tips/Press Releases ing. GFA of 170,000 sq feet, says Buckley. next year,” he said. - Malaysia Insider initial sum of RM5 billion identifi ed Tel: 03-7721 8219 Fax: 03-7721 8038 Email: [email protected] Some occupants use the housing The mall has 210,000 monthly in the original development plan. Th e unit as a store, while some sublet visitors and is in a strategic location Glomac to sell Selangor land previously approved plot ratio for the Senior Managing Editor Azam Aris them, DBKL has found. with public transport. “Th ere is easy to PR1MA for RM145.59 mil site is said to be six. Th e gross fl oor Contributing Editor Sharon Kam Rizalman said this is hampering accessibility, with the Seremban KTM Glomac Bhd plans to dispose of a area would be about 5.1 million sq ft. Editor Rosalynn Poh Deputy Editors E Jacqui Chan, DBKL’s eff orts to assist 60,000 eligi- station and Terminal One bus station 16.9ha parcel of freehold land in According to reports, the land, Wong King Wai ble PPR and PPA applicants on the located 110 meters and 450 meters Ulu Langat, Selangor, to Perba- which belonged to Railway Asset Assistant Editor Lam Jian Wyn waiting list. away respectively, which makes it danan PR1MA Malaysia (PR1MA) Corp, was purchased by PHB in 2011 Senior Writer Racheal Lee He urged city dwellers with a convenient for visitors,” Buckley says. for RM145.59 million cash. for RM150 psf. Land in the neigh- Writers Chai Yee Hoong, Rachel Chew, Hannah Rafee, household income of between Seremban Prima is held on a 99- Th e disposal is expected to yield bourhood is currently valued be- Tan Ai Leng, Natalie Khoo, Ewe Shufei RM3,000 to RM8,000 to take the year lease that expires in 2094. Glomac an estimated net gain of tween RM700 and RM800 psf.

Art Director Sharon Khoh Design Team Cheryl Loh, Valerie Chin, Aaron Boudville, Aminullah Abdul Karim, If you have any real estate-related events, email us at [email protected]. Yong Yik Sheng, Tun Mohd Zafi an LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Mohd Za’abah, Noorain Duasa

Corporate Managing Director Au Foong Yee Final block launch of 754 serviced apartment units of win”booth, children’s talent contest, event of the residence. The asking Deputy Managing Director Mesahill@Nilai between 450 sq ft and 1,085 sq ft, lucky draws and magic shows. price for the fully renovated Lim Shiew Yuin selling at RM230,000 onwards. 2.5-storey intermediate link Advertising & Marketing Facilities of the three-block Bangsar linked home house is RM2.5 million. It has a To advertise contact development include swimming open house built-up area of 4,000 sq ft and GL: (03) 7721 8000 pool, three-tier security, BBQ area, comprises 4+1 bedrooms and four Fax: (03) 7721 8288 and a pedestrian bridge to a mall. bathrooms. Nearby amenities Chief Marketing Offi cer Sharon Teh (012) 313 9056 include several shopping centres, General Manager, Digital Media Mapex Property Showcase hospital, LRT station, future MRT Kingston Low (012) 278 5540 Date : Oct 14 to 18 (Weds to Sun) station, shops and banks. Senior Sales Managers Venue : GF Highstreet (Rainforest), Geetha Perumal (016) 250 8640 Home décor and design Fong Lai Kuan (012) 386 2831 Shopping Centre, Peter Hoe (019) 221 5351 , Petaling Jaya exhibition (Homedec) Part 1 Gregory Thu (012) 376 0614 Time : 10am to 10pm Date :Oct 22 to Oct 25; Oct 29 to Nov 1 Creative Marketing Date : Oct 17 and 18 Contact : (03) 7803 2978 Venue : Kuala Lumpur Chris Wong (016) 687 6577 Head of Marketing Support & Ad Traffi c (tomorrow and Sunday) More than 35 property developers Convention Centre Lorraine Chan (03) 7721 8001 Venue: Mesahill Sales will be exhibiting at Mapex, including Date : Oct 17 and 18 Time : 10am to 8pm Ad-Traffi c Manager Gallery, Persiaran Perdana, Bandar Utama Development Sdn (tomorrow and Sunday) Contact : (03) 7982 4668 Roger Lee (03) 7721 8004 Nilai, Bhd, MKH Bhd, Mah Sing Group, Venue : No. 66, Jalan Limau Manis, Homedec 2015 is a two-weekend event. Email: [email protected] Time : 10am to 5pm UEM Sunrise Bhd and many others. Bangsar Park, Kuala Lumpur. The fi rst weekend showcases products Contact: (017) 350 3872 Mapex is organised by the Real Estate Time : 10am to 5pm for those looking to renovate their The Edge Property is published and The fi nal block of Green Target and Housing Developers’ Association Contact : (012) 389 0575 homes. The second weekend has a distributed with The Edge Financial Group’s Mesahill serviced apartment (Rehda) Youth section. Expect family PPC International Sdn Bhd is “Furnish + Decorate” theme. Homedec Daily every Friday. For more property data, listings and news, project will be on sale. There are fun activities, such as “catch and having an open house sales is organised by C.I.S Network Sdn Bhd. go to theedgeproperty.com. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP3 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP4 PROPERTY | NEWS Budget 2016 should focus on fi rst-time homebuyers

Property players would like to see the return of developers interest-bearing scheme and GST exemptions

BY WONG KING WAI

PETALING JAYA: Property players are hoping that Budget 2016 will make it easier for fi rst- time homebuyers to buy property. Many wish for the return of the develop- ers interest-bearing scheme (DIBS). Before it was banned in 2014, a housebuyer only had to pay a small downpayment and nothing more until after the duration of construc- tion. Th e developer will bear the interest during construction and the loan would be serviced after the developer handed over the completed property to the buyer. Th e Real Estate and Housing Developers Association (Rehda) hopes to see a modifi ed scheme for fi rst-time homebuyers in the market for property to RM500,000. Rehda suggests the tenure of the scheme should only be 24 months for landed prop- erty and 36 months for high-rises. Moreover, the interest rate charged must not be high- er than the average lending rate of banks. Rehda also hopes for a standardisation of the bumiputera quota policy across the country and for the reduction or review of government charges that add to construc- tion cost, among other issues. Developer Mah Sing Group Bhd hopes for DIBS to be reinstated, as “the scheme will ease purchase of homes by genuine homebuyers by allowing them to lock in Property players hope to see more avenues for fi rst-time homebuyers to buy property. The Edge fi le photo properties at current prices.” Th e developer also hopes for less strict to buy homes in tough times; and [I hope] costs and enable developers to build more He also highlights the issue of the avail- lending guidelines, a review of real proper- interest rates do not go up.” aff ordable residential units. ability of trained foreign workers, who may ty gains tax (RPGT) to encourage property President of the Malaysian Institute of Rehda also hoped the government would have to return to their home countries in investment, stamp duty exemption and a Estate Agents (MIEA), Erick Koh, says fi rst- consider placing aff ordable houses priced January next year. further reduction in personal income tax time homebuyers need a leg up. up to RM500,000 under the GST (Relief) “Th rough the Building Industry Presi- for middle-income earners. “I would like to see more leniency for fi rst- Order to mitigate the increased cost of af- dents Council, MBAM has appealed to the Th e call to assist fi rst-time homebuyers time homebuyers to allow them to borrow fordable housing. government to ‘normalise’ workers under is echoed by property consultants YY Lau, money based on their gross income, and to Director of LaurelCap Sdn Bhd, Stanley the 6P programme to Pas Lawatan Kerja country head of JLL Malaysia, and Sarkunan have higher margins of fi nancing,” he said. Toh, says that he would like the government Sementara (PLKS) (Temporary Work Per- Subramaniam, managing director of Knight Th ere were also calls for a review of the to lower the RPGT as it could stimulate the mit) status that can be renewed every 12 Frank Malaysia. Goods and Services Tax (GST). JLL’s Lau domestic property market. He would also months to a maximum of 10 years since the “While the Young Couple Housing Scheme said the government should relook the GST like to see an exemption on stamp duty for workers are now skilled and experienced announced by the government recently is a rate to either decrease it or give more ex- the next three years and for Bank Negara to and the industry has invested a lot in their good move, we also wish that the govern- emptions “especially for rental properties reconsider the loan-to-value ratio for home- training,” Tee says. ment could extend some assistance for all to help businesses”. buyer fi nancing. MBAM also wishes for the subsidising fi rst-time homebuyers,” Lau said. “We think According to managing director of CH Master Builders Association Malaysia of Building Information Modelling to help that DIBS can be reactivated for fi rst-time Williams Talhar and Wong (WTW) Foo Gee (MBAM) president, Matthew Tee, says a re- the construction industry better manage homebuyers, and that housing fi nance pol- Jen, GST for residential property transactions duction in import duties for heavy construc- costs, and for the Construction Industry icies can be relaxed as well.” in the medium and aff ordable price range tion machinery would be helpful, as would Transformation Plan to be implemented Sarkunan said, “Th e return of DIBS only should be zero-rated to allow developers to more tax incentives for industry players to quickly to boost the growth of the construc- for fi rst-time homebuyers, [will] assist them recover their GST costs, reduce development implement the Industrialised Building System. tion industry. New territory: crowdfunding for property

BY WONG KING WAI At present, CoAssets is not licensed to velopers in the ‘funding gap.’” operate in Malaysia but is applying for one. According to the World Bank, businesses PETALING JAYA: Australian listed proper- It is looking to increase public awareness of fi nd it hard to get funding for projects in the ty crowdfunding company and platform, property crowdfunding. S$1 million to S$5 million range because it CoAssets, will be organising the inaugural Among the speakers at Epic will be entre- “is too small for banks to fi nd the business Expo for Property Investing & Crowdfunding preneur Bryan Chung of PropellarCrowdPlus, worthwhile,” said Goh. (Epic) on Oct 24 and 25 at the JW Marriott a Malaysian crowdfunding site, and Elizabeth Compared with a real estate investment Hotel in Kuala Lumpur. Siew, a lawyer from Iqbal, Hakim, Sia & Voo. trust, property crowdfunding helps devel- “Th e concept of property crowdfunding is “This internet innovation can benefit opers in the funding gap, says Goh, whereas very similar to Kickstarter,” CEO of CoAssets investors and developers alike,” said Goh. REITs are listed entities that own and oper- Getty Goh explains. “It is about bringing dif- On whether property crowdfunding works ate income-producing real estate. ferent people, via the internet, to back the best in a slow or buoyant market, Goh said, “While crowdfunding and REIT are things same project. However, unlike Kickstarter, “Property crowdfunding is an evergreen consumers can invest in, the market seg- Goh: This internet innovation [property crowdfunding] the projects that property crowdfunding business [because] developers are always ment they serve are quite diff erent,” he said. can benefi t investors and developers alike. Photo by sites support are real estate in nature, and in need of funds [for] projects. Specifi cally, CoAssets has a presence in Singapore, CoAssets backers get fi nancial returns.” the target segment we are serving are de- Australia, China and Indonesia. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP5 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP6 PROPERTY | NEWS Penang’s fi rst premium outlet mall to open ahead of schedule

Design Village Penang in Batu Kawan will have sheltered walkways and tropical landscaping

BY EWE SHUFEI

GEORGETOWN: Penang’s fi rst ‘premium outlet’ mall, Design Village Penang, in Batu Kawan, will open a month ahead of schedule in October 2016, according to Savills Malay- sia managing director Allan Soo. He revealed this at a progress update briefi ng with Penang Chief Minister Lim Guan Eng. Design Village Penang is devel- oped by PE Land (Penang) Sdn Bhd. Savills Malaysia is the leasing and retail develop- ment adviser. Th e 400,000 sq ft Design Village Penang sits on 40 acres of mixed-used development land that will include a hotel, serviced apart- ments and high-end condominiums. From left: PE Land Sdn Bhd general manager Ronald Ling, Savills Malaysia’s It has a total estimated gross development Murli Menon, James Ling, Jason Tai, Lim and Soo at the briefi ng. Photo by Savills An artist’s impression of Design Village Penang. value (GDV) of RM1 billion. Th e GDV for Design Village Penang itself is estimated at between RM200 million and RM300 million. Boss, Aigner, Armani Exchange, Hackett and come shoppers in mind, Design Village tels as well as Penang International Airport. Th e one-storey open-air mall will consist others have signed up as tenants, constitut- Penang will have 2,500 car parking bays, as Batu Kawan, dubbed “the new Penang”, of sheltered walkways, lush tropical land- ing a current take-up rate of approximately well as children’s play areas in addition to is easily accessible via the island-mainland scaping and 150 stores of international and 40%, and an anticipated 70% occupancy rate eateries featuring international and local virtual ring road formed by the state’s two regional brands. by opening day. cuisine. bridges to the mainland and several high- Luxury brand anchor stores such as Hugo With a target demographic of middle-in- It will off er shuttle services to and from ho- ways. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP7 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY FRI EP8 PROPERTY | COVER STORY

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01 a p Ave at R Pea off com Kajang moves with a q Res era opt vie the middle classes un be Ch New developments and future MRT stations in the area boost secondary market prices Uta 3Q BY CHAI YEE HOONG & NATALIE KHOO Based on theedgeproperty.com’s analysis Suites (by Gamuda Land), while future de- era of transactions in the 12 months to the third velopments to look out for include Trop- no ajang, Selangor, is fondly called quarter of 2014 (3Q2014), secondary prices of icana Heights Kajang (by Tropicana Corp Sun “Satay Town” by food-loving non-landed residential properties in Kajang Bhd), Kajang 2 (MKH) and Nadayu 92 (by ica Malaysians because of its fa- and rose steadily since Nadayu Properties Bhd). mous barbecued meat skew- 2013. Th e average transacted price reached 02 tum ers. It may be 21km from Kua- a peak of RM227 per square foot (psf) in Catering to the mass market sq f la Lumpur but that doesn’t 3Q2014, up 17.7% year-on-year (y-o-y) from Even with numerous upmarket gated neigh- Evergreen Park Cypress, with an average es a Kstop city foodies from making their regular RM193 psf in 3Q2013. Th is followed a growth bourhoods, the non-landed residential prop- transacted price per unit of RM465,000. Also pilgrimages there. Kajang is thought to have of 12.9% y-o-y in the preceding year. erties in the Kajang/Bandar Sungai Long located in Bandar Sungai Long, it is clustered the been founded in 1807 after the end of the With the Mass Rapid Transit (MRT) Sun- area still fall mostly within the mass mar- among Evergreen Park Acorn & Hazel and cor War between rival clans. It was lat- gai Buloh-Kajang Line due for completion ket segment. Evergreen Park Scot Pine condominiums. the er made the district capital of Hulu Langat in 2017, Kajang will become an increasingly Based on theedgeproperty.com’s analysis Evergreen Park Cypress has the largest units can because of its central location. viable place to live in. Th e area is set to have of transactions in the 12 months to 3Q2014, in the area, with a typical 3-bedroom, 2-bath- me Kajang owes its rise to the coff ee estates in three MRT stations, at Saujana Impian, Ban- the average transacted price per unit stood room unit being 1,453 sq ft. an the area in the 1890s, and now houses many dar Kajang and Jalan Reko. at RM215,000, with 34.8% of transactions Meanwhile, the cheapest projects are led tran exclusive gated residential estates that cater According to DTZ Nawawi Tie Leung being in the RM100,001 to RM200,000 price by low-cost fl ats at Taman Asa Jaya, Taman 32. to the upper-middle class. Property Consultants Sdn Bhd managing range. Th e neighbourhood remains fairly af- Kajang Utama Apartments and the Kajang Me- apa As an established area with ready ameni- director, Eddy Wong, the Kajang/Bandar fordable, with 97.5% transactions occurring wah Flats, with an average transacted price per wh ties, Kajang town and the adjacent Sungai Long area benefi ts from the spillo- below RM500,000. unit of between RM36,000 to RM56,000. Th ese cap Bandar Sungai Long township ver demand arising from the escalation of By average transacted price per are usually com- are seeing renewed interest property prices in the capital Kuala unit, the most expensive con- pact walk-up la c from homebuyers, including Lumpur. Bandar Sungai Long dominium was Flora Green flats. For in- y-o for its new high-rise devel- has enjoyed a spurt in prices in Bandar Sungai Long, at stance, units ed opments that are setting since early this year when RM550,000. It is located at Taman Pea new benchmark prices in Universiti Tunku Abdul right at the edge of the Sun- Asa Jaya are lev the vicinity and giving a Rahman (Utar) shifted its gai Long Golf and Country especially we boost to the local second- students to Bandar Sungai Club and most units of- small, with ary housing market. Long with the completion fer panoramic views. Th e cia of a new campus block. smallest unit is 1,755 sq ft. in K Upcoming non-landed The second-most ex- Wong: Kajang Lim says an increasing number residential developments in- pensive condominium is and Bandar um of homebuyers are considering clude Saville @ Kajang, MKH Sungai Long are the the option of investing in Boulevard (both by MKH According to See, Bandar defi nitely up and Ind Kajang/Bandar Bhd) and Jadite Sungai Long has better town coming property Ria Sungai planning compared hot spots with loc Long. The with Kajang. much com Edge fi le The Edge potential photo fi le photo in store. dom FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY COVER STORY | PROPERTY EP 9

SOURCE: THEEDGEPROPERTY.COM Kajang/Bandar Sg Long non-landed residential average price

typical 2-bedroom units measuring 484 sq ft. 01. An aerial view of Bandar Sungai Long. On a psf basis, just over half (50.4%) of Photos by Kenny Yap transactions fell within the RM201 to RM400 psf bracket in the 12 months to 3Q2014. In 02. Flora Green in Bandar Sungai Long is the the same period, 49.3% of transactions were most expensive condominium by average under RM200 psf. transacted price. However, newer condominiums appear- 03 ing on the market are aimed at richer mid- 03. Pearl Avenue in Sungai Chua is the second dle-income buyers. Located in Taman Bukit most expensive condominium on a psf basis. Ria, Tiara Parkhomes is the most expensive project on a psf basis with an average price 04. Tiara Parkhomes in Taman Bukit Ria is of RM369, at least 12% higher than the next- the most expensive project on a psf basis. most expensive. Recent launches nearby are Saville @ Kajang and Mewah 9 Residence, 05. A commercial area at Bandar Sungai Long. both projects by MKH Bhd. Th e second-most expensive address on 01 a psf basis is mixed-use development Pearl 4% to 5.9%. Th e rental market here is driven Avenue in Sungai Chua, with an average price by the student population at Utar. at RM328 psf. Similar to Tiara Parkhomes, Pearl Avenue was completed end-2013 and An aff ordable alternative off ers similar facilities targeting middle-in- Some of the earliest development schemes come buyers. Meanwhile, those looking for in Kajang were bungalows in Country a quiet environment would fi nd Greenview Heights Kajang (by Bhd), Residence at Bandar Sungai Long, with av- terraced houses and semidees as well as erage transacted price of RM314 psf, a good Mewah Court Condominium at Taman option. Th is hilltop condominium commands Bukit Mewah (by MKH Bhd). views over the town, with a typical 3-bedroom Other developers in the area are Gamuda unit being 1,366 sq ft. Land, Trans Loyal Development Sdn Bhd, Low-cost fl ats and walk-up apartments can and TLS Group. be found at Taman Asa Jaya (74 psf), Taman According to Wong, Kajang and Bandar 04 Cheras Prima (RM93 psf) and Taman Kajang Sungai Long off er condominiums catering Utama (RM93 psf). mainly to medium and high-income families. Prices seem to have risen further since “Th e areas are about 80% occupied, mostly 3Q2014. According to Wong, the current av- by locals, half being Malaysian Chinese. Al- erage transacted price of recently completed though traditionally owner-occupied, more non-landed residences in Kajang/Bandar investors have been buying up existing stock Sungai Long is around RM450 psf, for a typ- for rental income,” he says. ical unit built-up of 1,000 sq ft. Wong sees the short-term outlook for both “Th e most expensive in terms of price quan- areas as positive because existing stocks have 02 tum is Pearl Avenue at RM700,000 for a 2,241 good take-up rates. However, he thinks that sq ft penthouse, or RM313 psf. Th e typical siz- infrastructure would need to keep pace with age es are 1,100 sq ft and 1,800 sq ft,” Wong adds. population and development growth, for ex- lso Older existing properties have benefi tted ample, an upgraded drainage and irrigation red the most in terms of capital appreciation. Ac- system to overcome fl ash fl oods. nd cording to theedgeproperty.com’s analysis, Th e areas are connected by major highways ms. the highest growth in capital values in 3Q2014 such as the Kajang Dispersal Link Expressway nits can be observed among the aff ordable apart- (Silk), Kajang-Seremban Highway (Lekas), th- ments led by those in Taman Kajang Utama Cheras-Kajang Highway, and North-South and Taman Cheras Prima, where average Expressway. Apart from the MRT, amenities led transacted prices increased by 34.3% y-o-y and in the area include medical facilities (Hospi- man 32.6% y-o-y, respectively. Both are walk-up tal Kajang, Kajang Plaza Medical Centre and Me- apartments with low starting capital values, Kajang Specialist Hospital), and educational per which indicates that even modest gains in institutions (Kajang High School, Convent ese capital values generate higher relative growth. High School, SMK Yu Hua Kajang, SMK Sul- 05 In the middle-income segment, Casa Vil- tan Abdul Aziz Shah Kajang, Utar, Universiti la condominium in Sungai Chua grew 28% Tenaga Nasional, National University of Ma- tion charge on private motorists entering the there is relatively cheaper [than in the city], y-o-y to RM215 psf. Prices here were boost- laysia and Nottingham University). city may cause homebuyers to choose to stay although travelling to work in the city takes ed by the recent completion of the adjacent “People have the perception that Kajang in outlying and self-contained suburbs such longer. Th e highways available and the up- Pearl Avenue, which has shops at the ground town is further away from Kuala Lumpur city as Kajang and Bandar Sungai Long. coming MRT line will be a huge help in this level. Condominium units at Pearl Avenue centre compared with Bandar Sungai Long. iProp Realty managing director Victor Lim regard,” Lim says. were valued at RM328 psf in the same period. Having said that, a town’s distance from the notes that an increasing number of homebuy- Furthermore, with land becoming scarce Wong estimates the annual capital appre- city is not the sole determinant of its prop- ers are considering the option of investing for new property developments in the Klang ciation for non-landed residential properties erty prices. In fact, Bandar Sungai Long and in Kajang and Bandar Sungai Long because Valley, Wong says people are looking for al- in Kajang at 10% to 12%. Kajang are neighbouring areas just a short they are relatively more aff ordable compared ternative places to invest in. “Kajang and As of June this year, rental yields of medi- distance apart. What matters more is how with property in Kuala Lumpur. Bandar Sungai Long are defi nitely up and um-cost apartments in Kajang appeared to be the town was developed to provide a pleas- “One of my staff who recently purchased coming property hot spots with much po- the highest. Th e best performers were Plaza ant place to live,” Wong says. property in Kajang said that the cost of living tential in store,” he says. Indah at 7.6%, Sri Camellia at 7.1% and Sri According to Metrohomes director See Ria Apartments at 6.4%. Th ese apartments are Kok Loong, Bandar Sungai Long has better located at Taman Sepakat Indah, close to the town planning compared with Kajang, with commercial areas of Sungai Chua. its amenities close to one another. Check out a video of this hotspot at theedgeproperty.com Over at Bandar Sungai Long, yields of con- Meanwhile, he says the recent proposal by and see property listings for this area on Market Watch EP10 dominiums are fairly decent, ranging from Kuala Lumpur City Hall to impose a conges- FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP10 PROPERTY | MARKET WATCH Go to theedgeproperty.com for more listings

FOR SALE [in Kajang/Bandar Sungai Long, Selangor] FOR RENT [inKajang/Bandar Sungai Long, Selangor]

Tiara ParkHomes Tel: (012) 222 5187 Type: Condominium/ Green Acre Park Built-up area: 1,366 sq ft Email: [email protected] serviced residence Type: Condominium/ Bedroom(s): 3 + 1 Tenure: Freehold serviced residence Bathroom(s): 2 Greenview Asking price: RM388,000 Asking rent: RM1,700 Description: Partly furnished Residence Built-up area: 1,048 sqft Built-up area: 1,012 sq ft unit with built-in cabinets Type: Bedroom(s): 3 Bedroom(s): 3 in dry and wet kitchens, Condominium/ Bathroom(s): 2 Bathroom(s): 2 oven, air-con, built-in serviced Description: Renovated Description: Comes with air-con, wardrobes in all rooms and residence and partly furnished unit water heaters, washing machine, water heater. Greenview Type: Condominium/ Tenure: (kitchen cabinet, wardrobe, fridge, dressing cabinet, dining Residence is located on serviced residence Freehold air-con, water heater). table and chairs, the highest point in Tenure: Freehold Asking price: In good and clean condition. One kitchen cabinets. Bandar Sungai Long. Asking price: RM548,000 RM535,000 car parking bay. Close to Sungai Agent/negotiator: Diana Accessible via Grand Saga Built-up area: 1,468 sq ft Built-up area: 1,366 sq ft Long town, Utar, banks and Ng of Metro Homes Sdn bhd and Silk highways. Near Utar. Bedroom(s): 3 Bedroom(s): 3 restaurants and Mahkota Cheras. (Cheras Selatan) (REN 04050) Agent/negotiator: Bathroom(s): 2 Bathroom(s): 2 Accessible via Cheras-Kajang Tel: (016) 216 9919 Joyce Tiong of Oriental Description: Unit comes with air Description: Green View Residence Highway, Silk, Jalan Cheras, KL- Email: [email protected] Realty (REN 10534) conditioning, water heater and two is located on high ground in Bandar Seremban Highway, MRR2, Kesas E (3) 0050/15 parking bays. Tiara ParkHomes Sungai Long. Fully renovated, and others. Below market price. Flora Green Tel: (016) 220 0726 can be accessed via the Silk well-kept, high fl oor unit with hill Agent/negotiator: Allan Ooi of Type: Condominium/ Email: [email protected] Highway from Putrajaya view, balcony, air-conditioning, Tech Real Estate (REN 13277) serviced residence and , and via water heater, kitchen cabinet, Tel: (017) 601 3303 Tenure: Freehold Kajang City Height Grand Saga Highway to hood and hob; 24-hour security, Email: allan.techrealestate@ Asking rent: RM1,600 Type: Condominium/ Kajang Town. Facilities: bistro, card access into lift lobby. Each gmail.com Built-up area: 1,800 sq ft serviced residence infi nity pool, elevated BBQ block has a security guard on Bedroom(s): 3 Tenure: Freehold deck, gym, multipurpose hall, ground level. Facilities: swimming Mount Karunmas Bathroom(s): 3 Asking rent: RM1,000 kindergarten, laundrette, six- pool, jacuzzi, etc. Breezy area, Description: Partly furnished Built-up area: 833 sq ft tier 24-hour security system. fresh and cool at night. Close to unit. Project is near Bedroom(s): 3 Agent/negotiator: Sam Bukit Sungai Long, Utar, etc. amenities such as banks, Bathroom(s): 2 Liou of Tech Real Estate Agent/negotiator: Diana Ng of restaurants and bus Description: Located off Sdn Bhd (REN 13281) Metro Homes Sdn Bhd (Cheras station. Jalan Sungai Chua. Partly Tel: (012) 327 1369 Selatan) (REN 04050) Agent/negotiator: Elwin How furnished unit with kitchen Email: [email protected] Tel: (016) 216 9919 of Zenhill Realty (REN 02601) cabinet, fridge, air-con, Email: [email protected] Tel: (012) 292 8392 water heaters, one car parking Tiara ParkHomes Email: [email protected] bay. Near Kajang town. Type: Condominium/ Pearl Avenue Type: Condominium/ Agent/negotiator: Mike serviced residence Type: Condominium/ serviced residence Greenview Residence Lim of Total Realty Sdn Tenure: Freehold serviced residence Tenure: Leasehold Type: Condominium/ Bhd (REN 08461) Asking price: RM495,000 Tenure: Freehold Asking price: RM350,000 serviced residence Email: miclim1984@ Built-up area: 1,298 sq ft Asking price: RM410,000 Built-up area: 1,100 sq ft Tenure: Freehold gmail.com Bedroom(s): 3 Built-up area: 2,000 sq ft Bedroom(s): 2 Asking rent: RM1,550 Tel: (012) 966 0003 Bathroom(s): 2 Bedroom(s): 3 Bathroom(s): 2 Description: Claimed to Bathroom(s): 2 Description: None be Kajang’s fi rst resort Description: Pearl Avenue is located Agent/negotiator: Jimmy Low of lifestyle condominium, Tiara in Taman Sepakat Indah. Selling Goldman Properties (REN 05927) SOLD [in Kajang/Bandar Sungai Long] ParkHomes is close to unit at RM299 per sq ft, below Tel: (012) 681 1666 the planned Jalan Bukit MRT market price. Easily accessible via Email: [email protected] station. Unit has air-conditioned Jalan Sg Chua and Jalan Reko. Contract date: March 24, 2015 Contract date: April 13, 2015 living area and (3) bedrooms, water Upcoming and growing area. Plaza Indah Project: Casa Villa Project: Evergreen heaters. Facilities: infi nity Walking distance or short drive Address: X-X-X Jalan Park Scott Pine pool, elevated BBQ deck, gym, to shops, hypermarkets, banks, Berjaya Baru Address: XX, Persiaran multipurpose hall, kindergarten, cafés and restaurants. Built-up area: 1,216 sq ft Sungai Long 1 laundrette, six-tier security system. Agent/negotiator: Kim Loh of Price: RM335,000 Built-up area: 1,109 sq ft Near Kajang town centre, 15km Total Realty Sdn Bhd (REN 16497) Price psf: RM275 Price: RM400,000 radius of Putrajaya Tel: (016) 294 2530 Price psf: RM361 UKM and UPM. Email: [email protected] Contract date: Jan 19, 2015 Agent/negotiator: Ng Hong Project: Casa Villa Contract date: April 30, 2015 Loon of TPE Realty (REN 06280) Evergreen Park Scot Pine Address: X-X-X Jalan Project: Glen Court Tel: (012) 450 220 Type: Condominium/ Type: Condominium/ Berjaya Baru Address: XX, Persiaran Email [email protected] serviced residence serviced residence Built-up area: 1,324 sq ft Sungai Long 1 Tenure: Freehold Tenure: Freehold Price: RM200,000 Built-up area: 678 sq ft Greenview Residence Asking price: RM808,000 Asking price: RM260,000 Price psf: RM151 Price: RM55,000 Built-up area: 1,700 sq ft Built-up area: 941 sq ft Price psf: RM81 Bedroom(s): 4 Bedroom(s): 3 Contract date: Nov 4, 2014 Bathroom(s): 3 Bathroom(s): 2 Project: Pearl Avenue Contract date: May 19, 2015 Description: Newly repainted Description: Basic unit. Address: XX Jalan Pasir Emas Project: Sri Camellia unit with air-con, water heater, Well-kept. Walking distance Built-up area: 1,098 sq ft Apartments bathtub, hood, hob, and pool view. to shops and banks. Price: RM406,000 Address: XX, Jalan Evergreen Park is located beside Agent/negotiator: Kenix Chan Price psf: RM370 Sepakat Indah the Jack Nicklaus Golf Course and of Total Realty (REN 08633) Built-up area: 1,227 sq ft Type: Condominium/ near the Sungai Long Golf and Tel: (014) 626 1833 Contract date: Nov 4, 2014 Price: RM180,000 serviced residence Country Club. Bandar Sungai Email: [email protected] Project: Pearl Avenue Price psf: RM147 Tenure: Freehold Long is a self contained township. Address: XX Jalan Pasir Emas Asking price: RM560,000 Easy access via Silk, Kesas and Sri Ria Apartments Built-up area: 1,098 sq ft Contract date: May 15, 2015 Built-up area: 1,366 sq ft Cheras Kajang Highway. Type: Condominium/ Price: RM428,000 Project: Sri Camellia Bedroom(s): 4 Agent/negotiator: C.H. Hing of Tech serviced residence Price psf: RM390 Apartments Bathroom(s): 2 Real Estate Sdn Bhd (REN 16163) Tenure: Freehold Address: XX, Jalan Description: Fully renovated Tel: (012) 398 0866 Asking price: RM215,000 Contract date: May 18, 2015 Sepakat Indah and furnished unit; three Email: cheehui.techrealestate@ Built-up area: 868 sq ft Project: Flora Green Built-up area: 1,141 sq ft air-cons, water heater, gmail.com Bedroom(s): 3 Address: XX, Jalan Sungai Long Price: RM250,000 one car park bay. Very Bathroom(s): 2 Built-up area: 1,884 sq ft Price psf: RM219 well kept, in move-in condition. Green Acre Park Description: Basic unit in Price: RM685,000 Located in Bandar Sungai Long, good condition with one Price psf: RM364 Greenview Residences is easily air-con, two water heaters. accessible through Grand Agent/negotiator: SK Chong of Contract date: May 6, 2015 Saga Highway and Silk Vivahomes Realty (REN 07079) Project: Flora Green Highway. Close to Utar. Tel: (012) 282 8271 Address: XX, Jalan Sungai Long Agent/negotiator: Irene Chua of Email: sk_vivahomes@ Built-up area: 3,132 sq ft Leaders Real Estate (REN 01248) yahoo.com Price: 955,000 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP11 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY FRI EP12 PROPERTY | FEATURE

Housing areas close to universities are hot picks for student accommodation. L Photo by Haris Hassan/The Edge Property M w m t a l

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Sh Ne ren the on nu

pro on ing edu eno lac pro Student rentals shine in gloomy market col up fi rs

40, com Rental investment sub-sector will continue to be bright den tha BY RACHEL CHEW the More than 40,000 students n the general housing rental market, from UM are looking for yea the student accommodation sector accommodation every year. pla has become increasingly popular with Photo by Haris Hassan/ Hil investors, thanks to the rising number The Edge Property Su of tertiary institutions attracting both pic local and overseas students. I“I often tell my clients, if you want to invest are in properties with guaranteed tenants, choose the projects that are close to public transport Th e and aim for student tenants,” says Hartamas Ch Real Estate (OUG) Sdn Bhd team manager, Janet Chong. Chong, a Kerinchi and Pantai specialist realtor, claims that foreign student tenants fetch higher rental returns compared with Chong: Students W local students. Chong speaks from her ex- now have higher a perience of helping her clients fi nd tenants expectations of their w for their properties near Universiti Malaya (UM) located in the Kerinchi/Pantai area. living environment d “Most of my student tenants are from and security. s overseas, especially China. Most of them well as international schools. by the economic downturn, as well as the have a strong fi nancial background, so they Th e top 10 countries that contributed to recently implemented Goods and Services always opt for mid to high-end studio units the number of new students last year were Tax which has reduced disposal incomes. or units that they share with only one or two Bangladesh, Nigeria, China, Indonesia, Pa- “Th e daily expenses of local students will other people. kistan, Yemen, Libya, Sudan, Kazakhstan be impacted. Besides, starting November “Th ey do not mind paying more for a nice and India. 2014, the government had reduced the gov- environment, good facilities, convenience Th ere has also been a rising interest from ernment’s PTPTN (National Higher Educa- and comfort,” Chong says, adding that for- countries such as Australia, the US, the UK tion Loan Fund Corporation) loan scheme eign students make up a steady tenant pool and Japan. by 5% for students in public institutions of as Malaysia has successfully positioned itself Real estate agency VPC Alliance Malay- higher learning, and by 15% for students in as a higher education hub in Asia. sia Sdn Bhd managing director James Wong private institutions,” Wong notes. According to Second Education Minis- foresees more international students in Ma- “With a smaller budget, they will opt for ter Datuk Seri Idris Jusoh, the country has laysia because it off ers high quality educa- more aff ordable accommodation. More stu- become the fastest-growing destination for tion. Th e recent depreciation of the ringgit dents will share to rent a house,” Wong says. international students in the past decade, has also made it even cheaper to study here. “Based on market observations, most recording an annual growth of over 16%. “Even under the current bearish econom- private students are from middle and up- As at Dec 31, 2014, Malaysia had attracted ic situation in Malaysia, there is no impact per-middle income families. If the econ- 135,502 international students from about on international students, so they can be a omy worsens, these students will have 160 nations, studying in the country’s public steady tenant pool,” Wong claims. a smaller budget for accommodation,” and private higher education institutions as However, local students will be aff ected says Wong. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY FEATURE | PROPERTY EP13

Landlord: Follow the one-third theory

MIKE Lim used to own a bungalow that for accommodation in the vicinity – your erty investors into Semenyih, and Lim de- was converted into a student house in Se- target tenants. With a simple calculation, cided to sell his student house to another menyih, Selangor, located right next to you will know where your yield growth investor because he saw the limit on yield the University of Nottingham. He shares limit is,” he off ers. growth. and interesting tip for would-be investors From 2005 to 2012, Lim had gradually “I decided to start a new business for looking to enter the student rental market. created additional rooms in his 6,000 sq ft greater (income) gain instead of just rely- “Always follow the one-third theory when bungalow as more students moved into the ing on student housing. However, I’m still investing in student accommodation. I was quiet town. By 2007, his bungalow housed on the lookout for potential student house one of the fi rst student accommodation pro- 16 legal partitioned single rooms which investment,” says Lim. viders in Semenyih when the University of contributed some RM8,000 in monthly “Student accommodation still has huge Nottingham set up its Malaysia Campus in gross rental income. potential. I would suggest investors look 2005. However, I decided to sell it off in 2012 “Th e Semenyih student accommodation to education hubs that have more than because the supply had exceeded one-third market was so hot that tenants were willing one university or college, such as Bandar of the total number of students,” he says. to pay four months’ rent during the sum- Sunway, Setapak or Cyberjaya,” Lim off ers. Lim explains: “Imagine one-third of the mer break just to secure a room. I almost students will be staying in hostels or just never held an empty room for more than a outside campus; another one-third would few days, the shortest holding period was Lim: Always follow the one-third theory when be the locals staying in their own homes, a morning,” he says. investing in student accommodation. which leaves one-third who will be looking Th e hot market drew a number of prop- Photo by Shahrin Yahya/The Edge Property

Short supply of student accommodation comfortable living environment with good Notable location of major education institutions in the /Greater KL Nevertheless, Wong believes the student security. rental sector will continue to grow despite For instance, the 34-storey Camellia Ser- NO LOCATION NOTABLE UNIVERSITIES/COLLEGES the economic slowdown because of a lack of viced Suites is a leasehold project completed 1 Petaling Jaya University Malaya (UM), KDU University College, UNITAR International on-campus hostels and the rapidly growing in 2014 comprising 720 units, 300 of which University, Tun Abdul Razak University, Universiti Sains dan Teknologi number of students every year. are hotel rooms. Malaysia, University Lincoln, Olympia College, “Tertiary institutions are generally not Th e Universiti LRT station is within walk- University Islam Antarabangsa Malaysia. property developers; they’re mainly focused ing distance of the development, and it is also 2 / Sunway University, Taylor’s University, Monash University, on study programmes, courses, fees, teach- well-connected by the Federal Highway and Segi College Subang, Metropolitan College, INTI International College ing, etc. Based on market observation, many the New Pantai Expressway (NPE). Subang, Alfa International College. educational institutions are unable to build According to Chong, the average rental 3 Cyberjaya Lim Kok Wing University of Creative Technology, Cyberjaya University enough student housing on campus due to for a mere 600 sq ft studio unit in Camellia lack of funds and expertise to manage the Serviced Suites is RM2,500, or RM4 psf. College of Medical Sciences, Multimedia University. property,” says Wong. Another favourite among UM students is 4 Al-Madinah International University, Management and Science University For example, he cites the 13 residential Amcorp Serviced Suites. (MSU). colleges in UM that can only accommodate “Average rental per month for a 500 sq ft 5 Bangi/ Serdang/ University Kebangsaan Malaysia (UKM), University Putra Malaysia (UPM), up to 12,000 students annually, or 65% of all studio unit is about RM1,800,” Chong says, Kajang/ Cheras/ German-Malaysian Institute, Infrastructure University Kuala Lumpur, fi rst-year undergraduates. adding that the convenience of public trans- Semenyih UTAR, UCSI, Kolej Universiti Islam Antarabangsa Selangor, Universiti “In other words, each year, more than port and tight security are its biggest draws. Tenaga Nasional and University of Nottingham. 40,000 students from UM have to look for ac- The Taman Jaya LRT station is across the 6 Setapak/ TAR University College, Kuala Lumpur Metropolitan University College. commodation outside of campus,” says Wong. road from the 27-storey serviced residence. Hartamas Real Estate’s Chong, whose stu- Besides 24-hour security and standard 7 KL City Centre INTI University, Open University Kuala Lumpur, Segi College, dent tenants are mainly from UM, explains facilities like a swimming pool, the de- Malvern International College, University Kuala Lumpur, British Council. that UM students are only entitled to stay in velopment has direct access to Amcorp the campus hostel in their fi rst year. Mall that offers restaurants, shops and a Source: VPC Research “They are on their own from the second supermarket. year onwards, and have to find their own However, renting to students may not get place. Camellia Serviced Suites, Pantai property owners higher yields. Notable student accommodation prices and rental yield in the Klang Valley/Greater KL Hillpark 3 and 5 and Amcorp Serviced “A landlord might ask for higher rental PROJECT NAME LOCATION FLOOR AREA AVERAGE PRICE ESTIMATE GROSS Suites are some of these students’ hot- when renting out to students but do not for- (SQ FT) (RM PSF) RENTAL YIELD (%) picks,” she offers. get: the landlord has to invest more in the “What these projects have in common unit to make it suitable for students. Th ey Bukit Angkasa Apartment Kerinchi 800 285 7.5 are their short distance to the university, or may need to spend on basic furniture. In Sun U Residence Sunway 1,450 580 6.7 - 8.9 they’re well-connected by public transport. some cases, the rental is just enough to cover My Place Apartment Subang Jaya 980 – 1,000 620 9.48 Th ey also have good facilities and security,” the extra cost,” Chong says. Cyberia Crescent Cyberjaya 1,050 300 6.0 - 6.3 Chong off ers, adding that students prefer a Knight Frank Malaysia associate direc- Menara U Shah Alam 622 560 6.2 UniVillage* Semenyih 484 - 973 400 - 450 9.0 Source: VPC Research Yip: Although student Wong: The student rentals generally give accommodation sector slightly better returns tor Kelvin Yip says student rentals generally university or college students in Malaysia will continue to grow than other tenancies, give slightly better returns than other kinds has grown while the supply of student ac- of tenancy, because the landlord takes on commodation remains limited. despite the economic the landlord takes higher higher risk and repair costs. Wong says student accommodation is slowdown. risk and repair costs. “Investment in accommodation for stu- considered an emerging sub-sector in the the dents does not necessarily give better returns housing market. ces compared with other investments, but with “Th ere is a lot of potential for growth both s. the growing number of students, demand in terms of rental yield and capital appreci- will for student accommodation will grow too. ation,“ he adds. ber Th is is a steady pool of tenants, no matter Th ere is a strong market potential for both ov- when. Th is demand will not be dampened public and private student accommodation ca- as this pool of tenants grows with the pop- located near major educational institutions me ulation and the demand for tertiary educa- to fulfi l the shortfall in on-campus student s of tion,” Yip notes. accommodation, he says. s in “Among the residential property types, Emerging sub-sector student accommodation — which includes for Although Chong and Yip believe student landed and non-landed housing properties tu- housing rental does not necessarily give — achieves the best returns. [I believe] only ays. higher yields, VPC Alliance Malaysia’s re- student housing will continue to be good in- ost search shows the average gross yield on vestments because of the rising number of up- student rentals can be as high as 9.5%, local and international students every year. on- significantly higher than for non-student There could also be long leasing tenures ave rentals. with guaranteed yields between colleges/ n,” In fact, the market for stdent accommo- universities and student housing operators,” dation is on an uptrend, as the number of Wong notes. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP14 PROPERTY | FEATURE A window on the natural world

Th e alt-pet lifestyle market grows with the popularity of apartment living, but be aware of animal traffi cking

BY TAN AI LENG Some protected animal species may re- quire special permits to be kept at home, so ogs and cats may be the most do your research before getting an exotic pet popular pet choices but for home. (We haven’t done it for you because practical reasons, they are of- wildlife traffi cking is a deadly trans-border ten not allowed to be kept in crime that funds terrorism. Please google it.) apartments because of con- Anyone considering taking an animal cerns about their hygiene and home as his or her pet, whatever the species, Dthe noise they can make. must be aware that animals are breathing, But there are numerous alternatives to living beings that need and reward your cats and dogs that can become good com- love and care. Lin notes that animals, like panions for the apartment dweller. humans, do experience stress especially Jeline Lin, manager of Nilufar Pet and when they feel insecure. Besides feeding Aquatic Sdn Bhd, tells Th e Edge Property and cleaning them, owners must set aside Lin and an iguana. Exotic animals do not have long history of domestication, and care should be taken that more people are now looking for ‘al- daily quality time for their companions, in dealing with them. Photos by Sam Fong/The Edge Property and Nilufar Pet and Aquatic Sdn Bhd ternative’ pets, including exotic animals, such as for walkies and other activities that particularly those that won’t create loud they (not necessarily you) enjoy, and that noises and can be kept indoors. will nourish their beings. Th is, in turn, will “Dogs and cats may be a popular choice, enrich and make your life more meaningful. but for apartment residents, there are many Lin says diff erent pets display diff erent Some alternative pet choices aspects to consider, such as how to reduce signs of stress. For instance, birds will eat the noise of a dog barking or whether there less and tend to fi ght with other birds in a IGUANA SPIDER is enough space for it to move around. Many cage (which is why birds should be allowed Food: Vegetables Food: Crickets condominiums and apartments ban resi- to fl y freely); or a snake will stop eating and Lifespan: 20 years Lifespan: Five years dents from keeping dogs and cats at home,” hide all the time. (with proper care) Stress symptoms: she says. “Beware of pet stress, as it might kill the Stress symptoms: Refuses to eat Th ere are many other choices of pet avail- pet,’ Lin warns. “Normally, the fi rst symp- Poor appetite, darkened able depending on one’s personal preference tom is a change in eating habits, and when complexion SCORPIONS and budget. “Families might like something they eat less or stop eating, their immune Food: Crickets and furry and easy to take care of, such as rab- system will be aff ected,” she adds. CHAMELEON meal worms bits, prairie dogs, fennec foxes or chinchil- Removing an animal from a source of Food: Crickets and Lifespan: Ten years las,” Lin says. stress, improving its living environment and meal worms Stress symptoms: Others prefer non-furry animals, such as giving it extra care will help it recover from Lifespan: Five to Refuses to eat and reptiles and amphibians, including chame- stress, she says. seven years reacts aggressively leons, iguanas, snakes, frogs, tortoises, etc. Just remember that your pet is not a prod- Stress symptoms: when touched. (Please And if you prefer creepy crawlies, consider uct, like a handbag or smart phone that you Poor appetite, darkened don’t touch scorpions anyway. Even spiders, scorpions and even exotic beetles change every season, even though you had complexion the non-venomous species can leave (but please understand that they don’t show to pay for the privilege of its companionship. you with a painful wound. Respect the much emotion). For aquarium keepers, You will have to care for the animal for the BALL PYTHON integrity of the animal; don’t touch it.) besides fi sh, you could include lobsters or rest of its (or your) life, come hell or high Food: Rodents shrimps. water. Such is the sanctity of life, and pets. Lifespan: 30 years ‘PAC MAN’ FROG Stress symptoms: Food: Crickets, fi sh Refuses to eat and and meal worms hides from people Lifespan: Eight years Stress symptoms: SILVER-CRESTED Refuses to eat COCKATOO Food: Fruit and seeds RED CRYSTAL SHRIMP Lifespan: 60 years Food: Pellet food Stress symptoms: and vegetables Refuses to eat and reacts Lifespan: One to two years aggressively when touched Stress symptoms: Refuses to eat CHINCHILLA Food: Pellet food PRAIRIE DOG Lifespan: 10 years Food: Seeds, vegetables, Stress symptoms: hay and pellet food Refuses to eat and Lifespan: Eight years hides from people. Stress symptoms: eats less and lazy to SULCATA TORTOISE move around Food: Vegetables and calcium powder RACOON AND FERRET Lifespan: 70 years Food: Dog and cat food Stress symptoms: Lifespan: 10 years Poor appetite, reclusive Stress symptoms: Eats less

MATA MATA TURTLE FENNEC FOX Food: Vegetables Food: Cat food Lifespan: 40 to 75 years Lifespan: 14 years Stress symptoms: Poor Stress symptoms: Poor appetite, reclusive appetite, reclusive behaviour All pets should have a calm, clean and comfortable environment. FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY EP15 EP16 FRIDAY OCTOBER 16, 2015 • THEEDGE FINANCIAL DAILY

Published by The Edge Communications Sdn Bhd (266980-X) Level 3, Menara KLK, No 1, Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia. Printed by KHL Printing Co Sdn Bhd (235060-A) Lot 10 &12, Jalan Modal 23/2, Seksyen 23 Kawasan Miel Phase 8, 40000 Shah Alam, Selangor, Malaysia