Property developer TG Development has unveiled a new scheme that will allow buyers to rent a unit at Lloyd Sixtyfive in River Valley before deciding to purchase it.
Under its Experiential Leasing Scheme, a potential buyer can sign a two-year lease and pay the rent and refundable deposit upfront to stay in a brand new unit.
To read the full article, you can visit Developer Attract Buyers With Leasing Scheme
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Singapore has maintained its ranking from last year as the world’s fourth most expensive city for expatriates, according to Mercer’s 2016 Cost of Living Survey.
Hong Kong topped the list, pushing Angolan capital Luanda to second place. Zurich remained in third place, while Tokyo climbed to fifth. Kinshasa and Shanghai took the sixth and seventh spots respectively, while Geneva, N’Djamena and Beijing rounded up the top 10.
To read the full article, you can visit Singapore: The World’s Fourth Most Expensive City
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KUALA LUMPUR, June 23 (Bernama) — Gabungan Strategik Sdn Bhd, a unit of Gabungan AQRS Bhd, has received a letter of intent (LOI) from PR1MA Corporation Malaysia to acquire 1,149 units of PR1MA homes from the company and AQRS The Building Company Sdn Bhd.
Gabungan Strategik is the developer, while AQRS The Building Company is the proprietor of the PR1MA homes, Gabungan AQRS said in a filing to Bursa Malaysia Thursday.
To read the full article, you can visit PR1MA To Acquire PR1MA Homes From Gabungan AQRS
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The property outlook in Iskandar Malaysia remains attractive with good demand for landed residential properties, as the foreign and domestic property buyers prefer landed over high-rise living.
According to Stanley Saw, divisional general manager at SP Setia Bhd (Property South), the development and progress taking place in Malaysia’s first economic growth corridor served as the major draw to buyers. The influx of domestic and foreign investors, as well as new residents into Iskandar Malaysia will continue to drive demand for properties in south Johor.
To read the full article, you can visit Landed Property In Iskandar Malaysia Is Hot
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Weakening demand and record levels of new housing supply have contributed to a softening private residential leasing market over the past two-and-a-half years, with the Urban Redevelopment Authority’s (URA) rental index for private homes falling by 9.1 percent from Q3 2013 to Q1 2016, revealed a JLL report.
To meet pent-up demand following the 2008 Global Financial Crisis, robust government land sales and collective sales between 2010 and 2012 led to record levels of newly completed condominiums entering the market in recent years.
To read the full article, you can visit Private Residential Leasing Market To Soften Further
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Property owners are not expected to supervise the work of contractors whom they hire, revealed the High Court in rejecting a move by a neighbour to make a homeowner liable for the damages caused by the contractor.
“It would be intolerable if the law were to hold that all landowners who seek to construct homes on their property would have a duty to look continually over the shoulders of the independent contractors they hire to ensure that they take reasonable care in the performance of their tasks,” said Judicial Comissioner See Kee Oon.
To read the full article, you can visit Homeowners Not Liable For Damage To Neighbour’s Property
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Previously Scomi Transit Projects Sdn Bhd (STP) was awarded a RM404 million contract to replace the monorail trains under the Kuala Lumpur Monorail Fleet Expansion Project (KLMFEP) by Prasarana Malaysia Bhd, the asset and project owner of KLMFEP.
According to Prasarana Malaysia, STP has failed to adhere to the timeline as the project was scheduled to be completed in the year 2013.
To read the full article, you can visit 3 Years Delay For KL Monorail Trains Project
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KUALA LUMPUR, June 26 (Bernama) — Deputy Finance Minister Datuk Johari Abdul Ghani Sunday suggested that housing developers focus on redeveloping old flats to meet the high demand for low-cost housing in the federal capital.
He said the demand for low-cost homes such as the People’s Housing Project (PPR) and Public Housing (PA) units was rapidly rising in the city of Kuala Lumpur due to the population increase, specifically from the low-income group who could not afford to buy costly houses.
To read the full article, you can visit Redevelop Old Flats For Low-cost Housing In KL
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Property players with developments in Britain were unfazed by Britain’s exit from the European Union. Regardless of the outcome, CIMB Research noted that the uncertainty created during the negotiation may deter foreign investment into the London property market.
“Foreign interest may recover afterwards, but the extent of the recovery will depend on the terms agreed,” it said.
To read the full article, please visit Malaysian Property Developers Were Unfazed By Brexit
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The first duplex project in the affluent township of Taman Tun Dr Ismail namely TTDI Segaris is launched recently. This project is a joint-venture development between Naza TTDI Sdn Bhd and Prasarana Integrated Development Sdn Bhd (Pride).
Developed on a 1.01-acre parcel in Persiaran Zaaba, this project offers a single storey tower with a leasehold tenure. This high-end development comes with 185 units, of which 153 units are duplexes and 32 units are non-duplexes.
To read the full article, please visit The First Duplex Project In Township of TTDI
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One year after its launch, response to the government’s Youth Housing Scheme (YHS) was lukewarm, attracting only around 12% of the 20,000 total application quota for a two-year period.
Of the 2,500 applications received, over RM300 million worth of loans have already been approved as at May 2016.
To read the full article, please visit Youth Housing Scheme (YHS) Was Lukewarm
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Having travelled the world in search of real estate opportunities for our clients, we can state that Australia is one of the most manageable and stable markets when it comes to property. While it presents excellent upside opportunities, the downside risks remain relatively minimal with prices well supported by strong market fundamentals.
Take Melbourne for an example. According to Australian Bureau of Statistics (ABS), from Sep 2004 to Dec 2015 Melbourne’s Residential Property Price Index Quarterly Change has seen an average of +6.2% a year with the lowest clocked in Dec 2011 at -5.4% and highest at 25.2% in Mar 2010.
To read the full article, please visit Australia’s Post Commodity Outlook
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Drivers in Singapore spend nine hours commuting on the roads each week instead of engaging in leisure activities, according to a new study by the Urban Land Institute (ULI) Singapore and the Centre for Liveable Cities (CLC).
In fact, the average motorist wastes a total of 2,549 hours, or 106 days of their lives, looking for a parking spot.
To read the full article, please visit Singapore: Making The Case For A Car-Lite Future
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In response to the Penang’s Heritage Site being put at risk by foreign investors, Penang’s Chief Minister Lim Guan Eng is considering reinstating the rent control law. Previously reported in PropertyGuru, the elderly in Penang are being evicted and are being forced to be homeless due to callous property investors and increasing rental.
Property experts are however attempting to discourage the reinstatement of rent control, as the last time this law was implemented, the prehistoric buildings were neglected as the landlords deemed the rental returns too low to be worth the effort. According to the landlords, the only people who benefitted from the low rental were the tenants who in turn rented out their homes to visitors.
To read the full article, please visit Penang CM: To Considering Reinstating Rent Control Law
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Although home prices may start bottoming out in the next few quarters, which could prompt a moderate recovery from 2018, easing of property cooling measures are not expected until next year at the earliest, according to property experts at the Real Estate Developers’ Association (Redas) property market seminar on Tuesday (12 July), and reported TODAYonline.
Dr Chua Yang Liang, Research Head at JLL Southeast Asia, said the potential recovery range will likely be driven primarily by a pickup in the prime residential market, and in line with GDP growth.
To read the full article, please visit Singapore: No Easing Of Property Curbs Until 2017
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KUALA LUMPUR, July 14 (Bernama) — Bank Simpanan Nasional (BSN) is striving to get 10,000 new borrowers under its Youth Housing Scheme to boost its low take-up rate.
Deputy Chief Executive (Strategy & Communication) Kameel Abdul Halim said the scheme, which was aimed at helping married youths own their first home with ease, was launched in July last year but only 2,000 borrowers took advantage of it from BSN.
To read the full article, please visit BSN Targets 10,000 New Borrowers Under Youth Housing Scheme
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Rawang is poised to become a tourist hub with the completion of The Two – DA Land’s latest lifestyle project that will feature the biggest international indoor theme park in South-east Asia and Malaysia’s biggest mall.
Located within a few kilometres of Kuala Lumpur and Petaling Jaya, the ambitious project is nestled on a 20.4ha site and comprises two phases.
To read the full article, please visit Malaysia’s Biggest Mall In Rawang
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The Rent-to-Own (RTO) concept was recently suggested by the Finance Ministry to help the low-income group to acquire their first home. This approach will be very efficient in allowing low-income citizens to acquire a home without having to pay down payment.
According to the Second Finance Minister Datuk Johari Ghani, a person with the earning of RM2,500 and below should be able to pay a monthly rental of up to RM800. This monthly payment will be taken as the installment for a house without any down payment.
To read the full article, you can visit Rent-to-Own (RTO) Concept Help Low-Income Group To Buy Their First Home
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A key bilateral project for both Malaysia and Singapore, the historic Singapore-Kuala Lumpur High Speed Rail (HSR) was first conceived in 2013. It was called a “game changer” which will strengthen economic ties, boost connectivity and forge closer ties between people of the two countries.
Work on the rail project will formally begin once the signing of a Memorandum of Understanding (MOU) is completed. Singapore’s Prime Minister Lee Hsien Loong was in Putrajaya on Tuesday (19 July) for the signing of the agreement with Prime Minister Najib Razak.
To read the full article, please visit 8 Facts About Singapore-Kuala Lumpur High Speed Rail
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An increase in the withdrawal limit for the Employees Provident Fund Account 2 (to 30 per cent of a subscriber’s EPF account) will help increase home ownership substantially and boost the property market, said Kenanga Investment Bank Bhd.
“But such actions may require long-term studies by the fund due to long-term repercussions on future retirees,” Head of Economic Research Wan Suhaimie Wan Mohd Saidie said in a slide presentation at the Malaysian Property Summit Mid-Year Review 2016 here Wednesday.
To read the full article, please visit Increase In Withdrawal Limit For EPF Account 2 Will Boost Property Market
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IN continuation of our “green” theme, we feature, this week, two more developers offering properties that offer a “greener” environment.
While some question the characteristics of a “green developer”, we put aside all precepts and judgments as to what constitutes the makings of a “green developer”, instead we highlight developments that offer lots of greens and adopt practices that care for Mother Nature.
To read the full article, please visit For The Love Of Green
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To watch the video about this topic, please visit BR1M and Malaysia’s Poverty Line
WMA Property is a platform that focus on property market/news in Malaysia, property investment guide and provide the property investment education in Malaysia.
The Malaysian Anti-Corruption Commission (MACC) should probe the ballooning cost of the proposed undersea tunnel and the related road projects under the Penang Transportation Master Plan (PTMP), according to Gerakan state liaison committee member H’ng Khoon Leng.
In a report by The Star, he said the MACC should look into the RM305 million cost of the feasibility study for the development and the alleged increase in the project’s overall cost from RM4 billion to RM6.3 billion.
To read the full article, please visit Penang Gerakan: Investigate Rising Cost of Undersea Tunnel
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KUALA LUMPUR (Dce 31): Our intention have never to demolish or build over the Vivekananda Ashram, but to develop the adjoining land, says trustee R Sri Skanda Rajah.
He said the trustees were also not asking the government not to gazette the building as a heritage site, only the land.
“We are not suing the government, no. We are appealing for the land not be gazetted. Just the land, because we want to use the back portion of it that is not used. We are not asking for the ashram building not to be gazetted,” he said at the ashram yesterday, where the trustees were gathered to attend the annual general meeting (AGM).
To read the full article, please visit Development Plan Is For Adjoining Land, Ashram Unaffected, Say Trustees
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KOTA KINABALU: The State Local Government and Housing Minister will hold discussions with Bank Negara on the high rejection rate of loan applicants including those seeking to buy properties under the affordable housing scheme.
Datuk Seri Hajiji Noor said he believed with the cooperation and support of all parties including financial institutions, an amicable solution could be found so that more people can own houses.
To read the full article, please visit Dilemma For Housebuyers
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PETALING JAYA: Several local banks have revised their base rates (BR) and base lending rates (BLR) for the past three weeks, from the time when Bank Negara Malaysia (BNM) had reduced the Overnight Policy Rate (OPR) by 25 basis points to 3% last month.
Property developers welcome the OPR reduction, hoping to take advantage of the lower bank interest rates to attract more sales.
To read the full article, please visit The Updated List of Local Banks Interest Rates
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PORT DICKSON, August 7 — The cabinet last week approved the implementation of the ‘hire purchase’ system to help the needy to own a house, said Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar.
He said the system would be implemented in People Housing Project (PPR) areas nationwide, including Sabah and Sarawak.
To read the full article, please visit Hire Purchase System Will Be Implemented In PPR Homes
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The month-long Hari Raya celebration may be over but Worldwide Holdings Bhd has special rebates for its Puncak Bestari properties through its Riang Raya Bonanza promotion.
The property developer organised a half-day Raya open house in Puncak Bestari Sales Gallery at Bandar Puncak Alam, Selangor recently to introduce its latest property projects.
To read the full article, please visit Developer Offers Rebates For Puncak Bestari Properties
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The Association of Banks in Malaysia (ABM) urges first time home buyers to consider getting assistance for their property purchases at government schemes like Skim Rumah Pertamaku (SRP), reported The Star.
In a statement, ABM revealed that 11 Islamic financial institutions and 11 commercial banks in Malaysia are participating in the SRP scheme, in which 100 percent financing is offered for homes capped at RM500,000.
To read the full article, please visit ABM Urges First Time Buyers To Consider The Government Schemes
WMA Property is a platform that focus on property market/news in Malaysia, property investment guide and provide the property investment education in Malaysia.
JOHOR BARU, August 14 — Iskandar Malaysia has recorded RM208 billion in committed investments from 2006 until June 30 this year, said Prime Minister Datuk Seri Najib Razak.
Najib, who is also the Co-Chairman of Iskandar Regional Development Authority (IRDA), said of the total, 51% or RM106.43 billion represented investments that have been realised.
To read the full article, please visit Iskandar Malaysia Records RM 208 Billion In Committed Investments
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KUALA LUMPUR, Aug 15 (Bernama) — There is a growing demand for larger properties with three bedrooms or more in Malaysia, says The iProperty Group, owner/operator of property website, iProperty.com.
In a statement here today, iProperty.com said, its data revealed that the houses in the country were getting larger.
To read the full article, please visit iProperty: Growing Demand For Larger Properties With 3 Bedrooms Or More
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Second Finance Minister Datuk Johari Abdul Ghani said the government does not plan to increase the goods and services tax (GST) rate even as it expects a revenue shortfall of RM30 billion from the oil and gas industry this year.
He noted that the government is committed to assisting the middle and lower-income group as well as efficiently manage the fiscal deficit which could lead to steady economic growth.
To read the full article, please visit The Government Not Plan To Increase GST Rate
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KUALA LUMPUR: Malaysia is no longer stuck in the middle income trap, given the steady growth of its gross national income (GNI) in recent years and improving fiscal position.
Performance Management & Delivery Unit ( Pemandu) pointed out that Malaysia’s GNI at US $10,570 per capita last year is now only 15% away from the high-income economy benchmark, compared with US$8,280 per capita in 2010, which then put the nation 33% short of achieving the coveted category.
To read the full article, you can visit Malaysia No Longer In Middle-Income Trap
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KUALA LUMPUR, Aug 19 (Bernama) — Property giant, IJM Land Bhd has collaborated with Allianz Malaysia Bhd to introduce the first triple insurance protection scheme in Malaysia — HomeTIPS — to provide protection for house buyers.
IJM Land Managing Director Edward Chong Sin Kiat said the three-in-one scheme would provide term life, personal accident and involuntary unemployment coverage for buyers of selected properties.
To read the full article, please visit IJM, Allianz Introduce First Triple Insurance Protection
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Eco World Development Group Berhad marked its entry into the North West Klang Valley growth corridor with its latest integrated green township.
Unveiled at the launch of its 12th sales gallery in Puncak Alam, Selangor, Eco Grandeur bears all the hallmarks of an EcoWorld development in terms of lavish landscaping, outstanding architecture, signature landmarks and excellent security.
To read the full article, you can visit New Integrated Green Township Launched in Klang Valley
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The 15,211 sq ft property in Dalvey Estate is currently being rented out at $26,000 per month. (Photo: Edmund Tie & Company)
A freehold good class bungalow (GCB) in the exclusive Dalvey Estate GCB area will be put up for auction by owner’s sale at the end of this month, said sole marketing agent Edmund Tie & Company.
Located within a quiet cul-de-sac, the 21/2-storey property sits on 15,211 sq ft of land and has a floor area of 12,500 sq ft.
To read the full article, you can visit $30m Good Glass Bungalow (GCB) Put Up For Auction
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MALACCA: A total of 57,503 affordable homes (RMM) will be made available in Malacca by the year 2023.
Chief Minister Datuk Seri Idris Haron said 27,000 units of RMM homes will be constructed by state government agencies while 30,000 more units will be completed by private developers.
To read the full article, please visit 57,503 Affordable Homes Will Be Available In Malacca By 2023
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MIDF Research expects the Pokemon Go craze to benefit Malaysian real estate investment trusts (REITs) as shopping malls see higher footfalls.
“Since the release of Pokemon Go in Malaysia on Aug 6, retailers in the local shopping malls have been taking advantage of the Pokemon Go craze. One of the most common ways used by the retailers is by activating the ‘Lure Module’ which attracts Pokemon to the PokeStop for 30 minutes,” it said.
To read the full article, you can visit Pokemon Go Craze To Benefit REITs
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SHAH ALAM, 25 August: Prime Minister, Datuk Seri Najib Abdul Razak today officially launched the Light Rail Transit Line 3 (LRT3) project.
Najib said the project will be able to transport more passengers compared to other modes of transportation available in Western Klang Valley at the rate of 36,720 passengers per direction per hour.
To read the full article, please visit PM Officially Launch Light Rail Transit Line 3
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PEOPLE’s housing project (PPR) Taman Putra Damai, Lembah Subang 1 will get RM1mil from the Federal Government by the end of the year to upgrade its facilities.
Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar announced the allocation, among others, to improve the handrails and football field during a Gotong-Royong Merdeka Raya session held at the flats yesterday.
To read the full article, please visit RM 1mil For Taman Putra Damai Flats
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PETALING JAYA: The Kuala Lumpur-Singapore High Speed Rail (HSR) may boost the valuations of planters’ land bank due to property development potential, according to CIMB Research.
Sime Darby Bhd, Genting Plantations Bhd (GENP) and Kuala Lumpur Kepong Bhd (KLK) have their own property arm to develop the land but may selectively sell some of the land to unlock value.
To read the full article, please visit KL-S’pore High Speed Rail (HSR) Boost The Valuations Of Planters’Land Bank
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KUALA LUMPUR: There is a concern that Malaysians are borrowing too much and not saving enough, according to a report by Khazanah Research Institute.
While household debt growth has been moderating since 2010 (2015: 7.3% year-on-year), the ratio of household debt to gross domestic product remains high, at 89.1% in 2015 against 87.4% in 2014, according to Khazanah Research Institute’s fourth publication of “The State of Households II” released yesterday.
To read the full article, please visit Malaysians Are Borrowing Too Much, Beware Of The Global Economy Downturn
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PETALING JAYA, 1 September: Lower income households in Malaysia borrow seven times more than their annual income, on average, and are not financially resilient, said Khazanah Research Institute (KRI) in its publication, The State of Households II.
“While household balance sheets look healthy at the aggregate level, households in different income classes face different financial risks. Households in the lower income brackets have much higher leverage (debt-to-income) ratios compared to those in higher income brackets,” it said in its report, which was launched on Monday.
To read the full article, please visit Lower Income Households Financially Fragile: Khazanah Research Institute (KRI)
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SINGAPORE — The Monetary Authority of Singapore (MAS) has refined the Total Debt Servicing Ratio (TDSR) framework to allow all homeowners to be exempted from meeting the 60 per cent threshold when refinancing mortgages of the home they reside in.
In a statement on Thursday (Sept 1), the central bank said the move was taken in response to feedback from some borrowers who are unable to refinance their existing property loans at lower interest rates due to the TDSR framework, which requires financial institutions to ensure loans they approve do not push borrowers’ debt servicing ratio above 60 per cent of their gross monthly income.
To read the full article, please visit Total Debt Servicing Ratio (TDSR) Tweaked For Refinancing Of Home Loans
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SHAH ALAM: Property developers will have to allocate up to 30% of affordable units for their serviced apartment and boutique office projects, depending on type and location, according to the Selangor Housing and Property Board (LPHS).
Its executive director Norzaton Aini Mohd Kassim said developers who build serviced apartments and small office home offices (SOHO), small office versatile offices (SOVO), small office flexible offices (SOFO) are required to allocate 10% for affordable units for projects that have 500 units and below; 15% for 501 to 1,000 units; and 20% for more than 1,000 units.
To read the full article, please visit Selangor: Up To 30% Of Serviced Apartment And Boutique Office Projects Must Be Affordable Units
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KUALA LUMPUR, 6 September: The Iskandar Regional Development Authority (IRDA) aims to achieve RM25 billion in new investments for Iskandar Malaysia this year.
Corporate management and finance director Nor Hisham Mohd Yusof said IRDA was confident of achieving the target as the authority had secured RM17.7 billion in new investments in the first half of 2016.
To read the full article, please visit Authority Eyes RM25 Billion New Investments For Iskandar
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SERI KEMBANGAN: Property developer Hua Yang Bhd, which is targeting sales worth RM500mil within its current financial year ending March 31, 2017, will be launching its newest offering, Astetica Residences, by this quarter.
Hua Yang financial controller Joe Tan said the launch of the mixed development at Seri Kembangan will help the company achieve its sales target for this year.
To read the full article, please visit Hua Yang Unveils RM368 Million Project In Seri Kembangan
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