Editor Chief Operating Officer’s Foreword Roshan Kaur Sandhu Writer Reena Kaur Bhatt Head of Creatives Angeline Lim Senior Graphic Designers Jason Kwong Wing Wong Junior Graphic Designer Rechean Soong Ad Operations Executive Nur Alia Ahamd Tamezi Chief Operating Officer - International Arthur Charlaftis Group Finance Director Kenneth A Kent General Manager (Agent Sales) Leon Kong Chief Information Officer Changing The Way The World Experiences Harmit Singh Property! The iProperty Group was welcomed into the REA Group family Head of iProperty TV earlier this year and our growing global team have already united a Jonathan Ong common goal - to change the way the world experiences property. International Correspondents Ee Von Ng & Leslie Lin Just how are we changing the way the world experiences property? Well, with our International site, we have more than 4 million property listings from 56 countries. That’s a world of properties right at your fingertips. To help you make an informed decision about your next property move, iPropertyIQ.com offers insights and data into the property iProperty.com Malaysia Sdn Bhd (600850-K) market. The site offers the most comprehensive source of property Suite 11.01, Level 11 Menara IGB Mid Valley City, Lingkaran Syed Putra data and analytics for Malaysia, Singapore, Indonesia and Hong 59200 Kuala Lumpur, Malaysia Kong, delivering incredible value to property agents, investors and Phone: (603) 2264 6888 developers. Fax: (603) 2264 6900 Sales enquiries: [email protected] We want to continue to deliver innovative solutions that meet the Editorial matters: [email protected] General enquiries: [email protected] needs of both our customers and consumers today and well into Subscription: [email protected] the future. 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We promise you that we will continue to do our best to find great stories, to write from the heart, to tell you what we really think, and iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd, Suite 11.01, Level 11 Menara IGB, Mid Valley City, Lingkaran Syed to deliver the best news and insights on the property market to help Putra, 59200 Kuala Lumpur, Malaysia. you make an informed decision. 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 Enjoy the read! 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. 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REA Group CONTENTS October 2016 2 Industry Insight Consumer COO’s Foreword 24 Awareness OPR Cut: What does it mean for consumers? 30 8 Choosing the right Editor’s Note/Happenings colour scheme for your Young Gun home 10 28 Happenings Rohit Singh: Building a rental home empire Special Focus: Penang 34 Penang’s rapidly changing landscape 36 iPropertyiQ Analysis: Penang - Property figures 12 42 iPropertyiQ Analysis: Is Penang’s housing Cover Story market overvalued? 12 Arthur Charlaftis: People are at the heart of our business Featured Property 16 Macly Equity Sdn Bhd Infinite possibilities at The Colony by Infinitum Points of Interest 18 Crowdfunding: Now everyone can be a real estate investor 48 Knight Frank real estate highlights 1H2016: Penang Event property market 22 51 Intelligent Connections @ iCities: Building CBDs of Penang, opportunities despite weak sentiments the future Henry Butcher property market report - H2 2016 CONTENTS October 2016 Points of Interest Research Data Agent’s Views 56 75 84 Remembering George Knight Frank real estate Town highlights 1H2016: Finding your dream home with Rina Properties Kuala Lumpur high-end condominium market 58 Regulars How sustainable urban 78 planning is helping Seberang Perai thrive Knight Frank real estate 86 highlights 1H2016: Kuala Dato’ Joey Yap Lumpur & beyond Kuala Lumpur (Selangor) Let your home help build your career office markets 88 81 House Buyers’ Association 58 Knight Frank real estate Don’t think that all apartments are the same - Things may not highlights 1H2016: Kota be as they seem Kinabalu property 62 market Balik Pulau - A hidden gem for property buyers 92 Agents’ Spotlight Advertorial 94 Positive Eco-Living with PecoL® 66 Consumer Awareness International Section 96 9 Ways To Transform Your Spare Room 66 International news Happenings 100 69 Agency Directory International Features - Briefs Mortgage packages that can help you earn tonnes of money in 104 your savings account Classifieds 72 112 Singapore News Happenings Subscription EDITOR’S NOTE The overall property market activity is expected In our Research Data section, Reena Bhatt studies to tone down in the second half of this year. the transaction activities and price trends of the Nevertheless, the frequently asked question by residential property market in Penang from April many is - “ Is now a good time to buy property”? 2015 to March 2016. I believe that one must equip themselves with the right knowledge before buying and avoid buying On page 18, read about how crowdfunding could crack blindly no matter what the market conditions are. the market open by giving everyone the opportunity to get into the real-estate investing game. Feng Shui This month’s Special Focus is Penang, which is one expert, Dato’ Joey Yap explains about personal BaZi of Malaysia’s most developed and economically and its association with your home. significant states. As the population increases, the infrastructure on the island is being upgraded, Last but not least, I would like to which will add to the state’s liveability. wish our Hindu and Sikh readers, Happy Deepavali. Dato’ Maimunah Mohd Sharif, President of the Municipal Council of Seberang Perai shares with us Till next month! some of her efforts in boosting urban sustainability, which includes reducing waste and boosting citizen’s engagement. More on page 58. Roshan Kaur Sandhu HAPPENINGS S P Setia’s Visca and Villosa Homes record strong take-up SP Setia’s newly launched double-storey terraces named Visca and Villosa located in its established Bukit Indah township received a remarkable 80% overall take-up during its launch last month. The launch featured 73 units of 22’ x 75’ double storey terrace, Villosa with a built-up of 2,200 sq. ft. and 110 units of 20’ x 70’ Visca with a built-up of 1,920 sq. ft. respectively. Villosa is sold at RM 770,588 nett per unit while Visca is sold at RM652,288 nett per unit. “We are pleased with the turn-out and encouraged by the response we have received. Our Bukit Indah township has flourished over the years and is now an address that is highly sought after in Johor as it provides residents with utmost conveniences. Villosa accommodates 4 bedrooms with ensuite 4 bathrooms while Visca houses 4 bedrooms with Known as a prime commercial and residential district, 3 bathrooms. Besides numerous amenities and it is easily accessible via major roads and highways conveniences, Bukit Indah is also known for its award- and surrounded with amenities such as schools, F&B winning 20-acre town park located in the heart of the outlets, hypermarkets, major banks, hotels and more township, where community activities commonly take ,” said Stanley Saw, Divisional General Manager of S P place in the evenings and over the weekends. Setia Berhad. Approximately 200 prospective buyers were seen lining up at the sales gallery for the balloting to own a unit in this established township. Both Visca and Villosa are located within a gated and guarded neighbourhood providing peace of mind and security to its residents. 8 HAPPENINGS Mah Sing Foundation donates RM200,000 to redevelop schools Mah Sing Foundation recently contributed a total of RM200,000 to Kuen Cheng High School (KCHS) and Sekolah Jenis Kebangsaan Cina (SJKC) Pin Hwa 2 respectively. The contribution aims to aid the schools’ redevelopment plans that will see the expansion of the schools’ compounds. The contribution is part of Mah Sing Group’s ongoing corporate responsibility to provide educational assistance to deserving students. Tan Sri Dato’ Sri Leong Hoy Kum, Group Managing Director of Mah Sing Group noted, “As a premier lifestyle developer, we are very happy to be able to aid schools to build a more conducive learning environment for our future leaders. We hope that the students will be able to learn better and grow The other school, SJKC Pin Hwa 2 started their up to lead our country Malaysia to the next level.” expansion project in 2009.