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 Budget 2017 Introduces Various Schemes For First Chief Information Officer Harmit Singh Time Home Buyers The theme of this year’s Budget 2017 is ‘Accelerating Growth, Head of iProperty TV Ensuring Fiscal Prudence and Enhancing well-being of the Rakyat’, Jonathan Ong which has produced a range of schemes relevant for first time home International Correspondents buyers. Leslie Lin This year, the Government has placed more emphasis on providing affordable housing schemes and announced there will be more than 100,000 units being built under the new schemes. Under PR1MA, the Government has also introduced a ‘special end financing scheme’ in collaboration with Bank Negara Malaysia, iProperty.com Malaysia Sdn Bhd (600850-K) the Employees Provident Fund (EPF) and four other financial Suite 11.01, Level 11 Menara IGB institutions, including Maybank, CIMB, RHB and AmBank. This Mid Valley City, Lingkaran Syed Putra scheme will be effective 1 January 2017 and has been introduced to 59200 Kuala Lumpur, Malaysia provide financing with a total loan amount up to 90% - 100%. Phone: (603) 2264 6888 Fax: (603) 2264 6900 Sales enquiries: [email protected] In addition, Government-linked companies (GLCs) and PR1MA are Editorial matters: [email protected] looking to buy vacant land to build approximately 30,000 houses. General enquiries: [email protected] These new properties will be priced for sale between RM150,000 - Subscription: [email protected] RM300,000, which is below the current market price (RM250,000 International Property: [email protected] - RM400,000). iProperty.com Malaysia Sdn Bhd (Johor) You can read more about what other measures have been A-2-7, Pusat Komercial Bayu Tasek Persiaran Southkey 1, Kota Southkey introduced in Budget 2017 on pages 26 - 27. 80150 Johor Bahru, Johor In this issue of our magazine, we also share more about the recent iProperty.com Malaysia Sdn Bhd (Penang) iProperty.com Asia Property Market Sentiment Survey for the Bay Avenue D-25-3 second half of 2016. The report has found that while people’s love Lorong Bayan Indah 2 for property remains strong, property ownership has been hindered Bayan Lepas, 11900 Penang by stringent bank regulations. More information on this can be found on pages 20 – 25. On a separate note, we would also like to encourage you to cast your vote in this year’s iProperty.com People’s Choice Awards, which are open until 11 November 2016. There are 13 categories, including your iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd, Suite 11.01, Level 11 Menara IGB, Mid Valley City, Lingkaran Syed most preferred property developer and development. Please visit Putra, 59200 Kuala Lumpur, Malaysia. www.iproperty.com.my/awards to cast your vote. Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, Have a great read! 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. Arthur Charlaftis Unless otherwise noted, all artwork and ad designs printed in iProperty. Chief Operating Officer - International 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. REA Group CONTENTS November 2016 2 Events COO’s foreword 28 Sabah’s mingling night: Fun times! 8 Editor’s note/Happenings 30 Sarawak’s mingling night: A toast to a good night! 9 Happenings Event Special Focus: Integrated rail systems - Tracking the growth 10 lines Malaysian property took centre stage in Shanghai Cover Story 12 34 Albury@Mahkota Hills: Redefining suburban living Public transportation efficiency: Key to Klang Valley’s transformation Featured Property Points of Interest 18 36 The Luxe by Infinitum: POD: Revolutionizing urban mobility An exquisite living that rises above the cliche Industry Highlights Industry Insights 20 39 iProperty.com Asia Property Market Sentiment 2017 Budget wish list: All eyes on home ownership Survey H2 2016 26 Budget 2017 addresses the rising demand for affordable housing CONTENTS November 2016 Industry Insight Points of Interest International Section 48 66 80 Financing by developers: Public transportation - International News - Happenings Good move? The osmosis effect 83 68 International Features - Briefs Housing in Malaysia: The 15 Mortgage terms you should know before taking a home loan Points of Interest real issue 50 71 86 Ho Chin Soon: Keeping REA Group Property Demand Index report a legacy alive The gospel for first time property buyers 92 52 Singapore News - Happenings Importance of synergy in building a city’s livability Research Data 73 54 Agent’s Advice Knight Frank prime Rise of transit-oriented global rental index Q2 95 development 2016 Before buying a commercial property: What do you do? Industry Updates Investor Profile Agents’ Views - Young Gun 56 96 Updates: Greater KL’s 76 Leaders in their own right rail lines Richard Lim: Banking on bargains 98 Research Data Agents’ spotlight 61 Ecosystem of affordable Consumer Regulars 108 housing Awareness 99 Agency Directory 78 House Buyers’ Association 112 How to plan for a nursery Housing Minister ill- Classifieds advised on the issuance of moneylender license to housing developers 120 Subscription 102 Dato’ Joey Yap Remote assessment for property abroad EDITOR’S NOTE Some experts believe that the property market is buying your first property. On page 68, Ishmael Ho expected to recover only in 2018 due to the weak examines the real cause behind the nation’s housing property market sentiment and also oversupply. issue, land scarcity and what it takes to put a roof Nevertheless, there are still many buyers looking for over our heads. homes as highlighted in the Asian Sentiment Survey H2 2016 on page 20. How has he managed to accumulate a double-digit property portfolio without breaking his back – or In this issue, we also feature a summary of the key the bank? Richard Lim under the Young Gun section measures announced in Budget 2016 that affect explains it. the property market. The government in this year’s Budget has continued to focus on the demand for beginner homes. Till next month! Master mapmaker Ho Chin Soon shares with us on how he first ventured into the world of map making and Chris Tan, founder and managing partner of Chur Associates, spells out the do’s and don’ts when Roshan Kaur Sandhu HAPPENINGS Overwhelming response for final blocks of Conezion Residence at IOI Resort City The units feature captivating views of the Palm Garden golf course, Putrajaya and IOI City Mall. Every unit is equipped with digital locksets and comes with 2 parking bays. Among the facilities available include a swimming pool with aqua bed, children’s art studio, learning lab, a mini-theatrette and more. Commenting on the successful launch, IOI Properties Group Bhd ‘s Chief Operating Officer, Teh Chin Guan said, “We are very pleased with the response of the final launch of Conezion Blocks A & D. The purchasers have made a right decision in purchasing Conezion due to its ideal location within a resort city with close proximity to amenities such as the IOI City Mall, five star hotels Le Meridien Putrajaya and Putrajaya Marriott Hotel as well as the 18-hole Palm Garden Golf The final blocks of Conezion Residence service Club.” apartments which were launched on 2 October received overwhelming response from purchasers. Customers present at the launch gave positive feedback about Conezion; which included their satisfaction with Conezion is an integrated development located in the the high ceilings, which greatly enhanced the sense world-class destination of IOI Resort City in Putrajaya of spaciousness as well as large windows to usher which consists of residential, retail and offices. in natural light and enable enjoyment of the scenic Conezion Residence offers three different unit types surroundings. Some cited the expected high return for and sizes, each comprising 2 or 3 bedrooms, with built- Conezion Residences in view of the potential growth ups from 780 to 1,278 sq ft and prizes starting from of IOI Resort City as a well-planned resort city with RM465,000. world-class amenities. 8 HAPPENINGS Sunsuria collaborates with talented singer-songwriters to promote youth creativity Sunsuria recently launched its #Inspired Life Music Video Short Film Competition for youths age between 18 to 35 years old. The competition was a collaboration with renowned local artists - singer- songwriters such as Hanz Koay, Azmyl Yunor, Daiyan Trisha, Eunice Hoo, and Daniel Wong from Wanted Symphony. Staying true to Sunsuria City’s tagline “The Inspired a-money-can’t-buy experience boot camp held Side of Life”, in hopes that will inspire the young on 25th September 2016’; where they get to learn generation to dream, believe and create. There were from the industry experts including Michael Lim, over 70 storyboards submitted in the preliminary Jojo Struys, Reuben Kang and The Ming Thing. phase and 5 finalists were chosen, Tiong Ing Haw, Arieff bin Riduan, Kimberly Ching, Phoebe Cheong, They were tasked to produce a mash-up music and Teresa Pang, to gear up for their Grand Prize video which composes of a short film alongside journey which will be announced later in November with the appointed singer-songwriter’s original 2016.