NOV 2017 ISSUE 153 RM8.50/S$8 11 872006 9 771823 Managing Editor CEO’S FOREWORD Roshan Kaur Sandhu Writers Reena Kaur Bhatt Mira Soyza Kayla Denise Michael Malaysia & iProperty.com.my Editorial Coordinator moving forward, together. Nur Alia Ahamd Tamezi Head of Creatives “Build it and they would come” was a line made popular by Angeline Lim Kevin Costner and James Earl Jones in the 3-time Oscar winning movie, ‘The Field of Dreams’. It could also sum up the Senior Graphic Designers way cities and towns have evolved in Malaysia. Wing Wong Jason Kwong One such example is Petaling Jaya. Formerly a rubber estate, Junior Graphic Designer Petaling Jaya was developed with the purpose of diverting the Rechean Soong population away from the capital Kuala Lumpur. New towns bring new opportunities and people soon started moving to CEO REA Group - Asia Petaling Jaya in search of employment and better standard Henry Ruiz of living. Over time, Petaling Jaya eventually became a city in its own right and today, PJ as its famously known, is home CEO - REA Group Malaysia & Singapore to various commercial and retail presence. It is also home to more than 600,000 urbanites, all within an area of 97.2 sq km. Haresh Khoobchandani General Manager (Marketing) Subang Jaya is another example. A former rubber plantation, Seafield Estate, Wong Siew Lai Subang Jaya was developed by Sime UEP Properties Berhad, the property arm of General Manager (Agent Sales) conglomerate, Sime Darby. Today 948,296 people (Source: 2015 population census) call Leon Kong it home. General Manager (Developer Sales) Sean Liew These 2 cities and many more across Malaysia probably wouldn’t have enjoyed the growth without proper transportation facilities and infrastructure. Above all, the General Manager (Data Services) Premendran Pathmanathan organisation behind the development had to be to be open to change. Group Regional Finance Director Change is evolution. You can delay it but you cannot deny it. Esther Monks The then federal government’s bold decision to disrupt the way people live, work and Head of Media Sales & Ad Ops commute and build more expressways and highways in Klang Valley because of the Martin Goh increasing size and population of the Klang Valley conurbation and the massive traffic Head of Content jams along Federal Highway, certainly accelerated the growth of these 2 cities. Gabriel Ong Head of iProperty TV It would’ve been easy for companies like Sime UEP that have been around as long as Jonathan Ong they have to suffer from a deep embedded conservatism and subscribe to the “Because that’s the way we’ve always done them around here” ideology and resist change. General Manager (Sales & Marketing) Credit must be given to Sime UEP Berhad and Sir Gerard Templer, the then Petaling iProperty.com Singapore District Council Chairman for wanting to innovate and embrace the earliest concept of Vincent Sim disruption to build what has become examples of modern cities in Malaysia. Head of Marketing & Content, iProperty.com Singapore Change is an evolution. Not a revolution. Leslie Lin Fast forward 20-or so years later, cities and the way we live, work and commute are being disrupted again; This time by the Mass Rail Transport system. iProperty.com Malaysia Sdn Bhd (600850-K) Cities like companies face numerous challenges (and with it opportunities) brought Suite 11.01, Level 11 Menara IGB about by a digital future. Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia The commencement of the Sungai Buloh-Kajang MRT line has resulted in a spurt of Phone: (603) 2264 6888 development in Sungai Buloh. It has also birthed a new concept in property - Transit Fax: (603) 2264 6900 Oriented Development (TOD). Sales enquiries: [email protected] Editorial matters: [email protected] Much has been said, published and discussed about TODs but the greatest benefit it will General enquiries: [email protected] bring is to the community in and around the Greater Kuala Lumpur area. Subscription: [email protected] International Property: [email protected] Today, more than ever before, cities need to draw on contemporary lessons from the iProperty.com Malaysia Sdn Bhd (Johor) business community to help them navigate an increasingly complex future. It also A-2-7, Pusat Komercial Bayu Tasek involves a shift in mindset. Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor Planners and the property industry could do well to be open to change and listen to the Phone: (607) 300 0013 sound advice of Kevin Costner and James Earl Jones – “Build it and they would come”. iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D-25-3, Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Sincerely, Phone: (604) 645 9899 Fax: (604) 611 1599 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. HARESH KHOOBCHANDANI 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 CEO - REA Group not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Malaysia & Singapore 2 PB Snap a picture / present this to redeem at cashier Promo valid till 31 Dec 2017 RM Discount Please tear here! 50 when you spend minimum RM300 in a single receipt T&C apply HomePro is the ‘one stop centre’ in creating your dream home – from A-Z home improvements to home consultancy services, we have it all at value for money deals! Let us help you redefine your homes lifestyle; whether you want to build something new, improve the look of your home or ‘live up’ your furnishings – HomePro is your trusted partner. 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Jelutong, 11700 Pulau Pinang. 03-5650 8800 06-274 8888 05-238 0011 04-202 0030 HomePro Call Center 1 800 28 2268 HomeProMY www.homepro.com.my [email protected] Contents 36 8 2 CEO’S FOREWORD SPECIAL FOCUS – 40 Subang Jaya: An evergreen 6 MANAGING EDITOR’S NOTE residential hotspot 6 29 Subang Jaya still a homebuyer’s HAPPENINGS hub 36 5 stops in Subang Jaya you need to check out on the Kelana Jaya COVER STORY LRT line extension 8 IQI: Changing lives through real estate 38 Gen-Ys favourite malls in Subang Jaya FEATURED PROPERTY MARKET WATCH 12 Seek success with Suasana Iskandar 40 London properties ripe for the picking BUDGET 2018 WISH LIST POINTS OF INTEREST 14 Financing help and strategic housing plan top Budget 2018 44 Gen-Y pilot raking in RM15k from wish list homestay business 44 48 Building defects and rights of buyers 20 HAPPENINGS COFFEE WITH CHARLES iPROPERTYiQ.COM 53 Growing a township 22 Puchong and KLCC: Buyers’ favourites 25 10% jump in sales of pricier homes 53 in Iskandar Malaysia Managing Editor’s note Contents Recently, I had an interesting chat KNIGHT FRANK FINDINGS with a very young property investor, 73 Knight Frank forecasts Kuala Ajib Adi and he was sharing with me Lumpur to see 2.5% growth in his triumphs and some investment tips. prime office rental over next three As it is presently a buyer’s market, he years has managed to grab good deals in 83 Kuala Lumpur high end the secondary as well as the primary condominium market 1H2017 market. He will soon be featured in the 54 upcoming months sharing some very 86 Kuala Lumpur & Beyond Kuala Lumpur (Selangor) office markets important investment tips. highlights 1H2017 The Special Focus section this month features Subang Jaya, which POINTS OF INTEREST according to iPropertyiQ data is still a 54 6 risks you need to know about homebuyer’s hub. Latest transaction Airbnb INTERNATIONAL SECTION activities might record moderate 90 INTERNATIONAL NEWS volumes but residential demand on the Happenings CONSUMER AWARENESS ground remains high. 92 SINGAPORE NEWS The area is an important as the 57 Before & after: 1 kitchen, 3 different Happenings renovations property. As such, latest iPropertyiQ 95 INTERNATIONAL BRIEFS findings in August 2017 revealed that 59 Keep vs. throw: Decluttering A foreigner’s guide to investing in Puchong and KLCC remain the buyer’s the bedroom Singapore properties favorites when searching for property in 61 The future of home tech is right Klang Valley. Furthermore, Rawang also here, right now made it to the top 10 list of areas that AGENT’S ADVICE aspiring homebuyers have their eyes on. 63 Why electro botanical is spring’s vibrant new trend 98 Mont Kiara: Where long term In the past year, Ara Damansara opportunities lie has progressively grown to be the most popular target area among those searching for a condominium in REGULARS 102 Selangor, registering a 95% jump in the 65 Feng Shui guide to choosing a CLASSIFIEDS number of leads dropped to realtors.