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Showing posts with label First time homebuyers. Show all posts
Showing posts with label First time homebuyers. Show all posts

Monday, February 29, 2016

Penang is best for property investment in Malaysia

Penang has dislodged Kuala Lumpur's Golden Tringle as the top investment choice




GEORGE TOWN: Penang has now overtaken the Klang Valley as the most attractive place for property investment.

In its Malaysia Commercial Real Estate Investment Sentiment Survey 2016, global property consultancy Knight Frank Ma-laysia said the state had dis-lodged Kuala Lumpur’s Golden Triangle as the top investment choice.

Penang garnered 67% of the overall responses while the Golden Triangle slipped to fourth position with 49%, finishing behind KL Fringe/ Klang Valley (56%) and Johor/Iskandar (55%).

The survey took litmus test for insights and preferences of key players namely fund managers, developers and lenders in the commercial sector for the Year 2016.

It targeted 700 respondents in senior management levels across the property industry.

Half of them (55%) were deve-lopers while the rest were commercial lenders (24%) and fund or real estate investment trust managers (21%).

Last week, George Town was picked as the sixth ‘Best place to retire abroad in 2016’ by CNN Money.

Source: Knight Frank Malaysia/The Star


That’s Right, Penang Just Beat KL To Become The Top Choice For Investments

 It appears that more people are keen to invest in Penang than in Kuala Lumpur, as a survey by Knight Frank Malaysia shows that Penang garnered over 67 percent of the overall response.

The survey also revealed that Kuala Lumpur Central Business District (CBD) (Golden Triangle), which was the top investment choice in 2015, was dethroned and dropped to the fourth ranking with 49 percent of the responses, coming after Kuala Lumpur Fringe/Klang Valley (56 percent) and Joh

Penang was also voted as the most attractive investment region for hotel or leisure and healthcare or institutional developments, possibly due to George Town being inscribed as one of UNESCO’s World Heritage Sites and the popularity of the state for medical tourism

  • Fae6
    • Image via Travel2Penang George Town is recognised as one of Unesco’s World Heritage Sites. 

  • Penang garnered the highest vote from respondents by getting 86 percent of the votes for most attractive investment region for hotel or leisure and 79 percent of votes for healthcare or institutional developments.

    Kota Kinabalu came in second for the most attractive investment region for hotel or leisure with 67 percent while Johor clinched the third spot with 59 percent.

    As for the healthcare or institutional developments, Klang Valley and Johor gained 72 percent and 69 percent of votes respectively to be the second and third most popular region.



  • These results came from the Malaysia Commercial Real Estate Investment Sentiment Survey 2016, which was conducted by global property consultancy Knight Frank Malaysia

  • Tuesday, February 16, 2016

    A challenging year ahead


    AS the Fire Monkey swings in to take its place, many have predicted this year as a challenging one. So, what’s in store for everyone in this particular year?

    Many came to me for advice on how to deal with this challenging period. Frankly speaking, I am not a feng shui master or an astrologist who can somehow predict the future. Neither do I know how to read a crystal ball and tell you what lies ahead. Having been through a few round of recessions and bad times during my early days, I can, however, only share my own experiences and observations.

    As shared in my last article “Lessons from my father”, I have learnt how to live frugally since young from my late parents. I recalled starting up my own architectural firm at the worst possible time. The year was 1964, and it was during the time of the Malaysia-Indonesia confrontation. The country was experiencing an economic recession and it is not hard to imagine how tough it was to make a living. I basically lived on “char kuey teow” as my lunch for two years! Being frugal and practising delayed gratification somehow helped me sail through that rough period.

    While it is wise to spend prudently, it is even wiser not to be in debt during times of uncertainty. I read an article which highlighted that Malaysian household debt as of August 2015 was 88.1% of gross domestic product against only 60.4% in 2008. The figure was among the highest in the region. It is rather alarming considering most young people tend to be indebted with at least a car and a huge outstanding of credit card and personal loan repayment.

    It is important not to put ourselves in a vulnerable financial situation, in order to face the challenges ahead. Most items purchased with the use of personal loan, credit card and hire-purchase are likely to depreciate over time. As a result, if repayments are not made on time or at all, these items with depreciated value becomes a loss. Such loans are then dubbed as “bad debt”. A “good debt” is one that brings returns. It is time to re-look into our debt categories and reallocate our resources appropriately.

    Conserving funds, while important, is not enough to withstand the inflation impact. It is therefore crucial to invest to fight inflation especially monetary inflation (money printing) which is a real problem in today’s world economy and is currently also causing asset inflation to continue. It is difficult to know the best form of investment during uncertain environment. However, I believe each of us has areas of expertise, and we should focus on those areas.

    If you are planning to own a property, a good inflation-hedging tool, do creative searching for your dream home.

    Muhamad Azree Abdul Rahim, a 26-year-old Malaysian, solved his problem of owning a property by thinking-out-of-the-box. He turned a used shipping container into his home by taking a RM75,000 loan and buying a plot of 2,400 sq ft land some 25km from Shah Alam. He was able to build a decent, fully-functional home with a garden next to it. His unconventional way of building his own house without being manacled to a 30-year housing loan is something that we should learn.

    While everyone would love to stay near to the city centre and preferably, own a big comfortable home, we need to be realistic in order not to be financially overstretched. Start with a smaller home, and buy a home that you can afford, not what you like. It is absolutely fine if you chose a house next to the last MRT station, far away from KL city centre, as long as you find it easy to commute. No point being near the city yet having to endure the daily routine of traffic madness and at the same time, forking out a large sum beyond your means.

    In the 1986 recession (the worst recession that I could remember), I had a team of 20 sales team members. Instead of waiting for customers to drop by our office, we went door-to-door and street-to-street to look for customers. Imagine swimming against the current, you may feel very tired and exhausted, but at least you are few steps nearer to your destination and you become a much stronger person. Hence, building resilience and perseverance in weathering the storm during challenging times is just as important.

    Back to the year of the Fire Monkey, I realised that there are similar characteristics that we can learn from those who are born in the year of the Monkey. According to Chinese zodiac analysis, monkey is the mnemonic symbol associated with intelligence, creativity, perseverance and flexibility. Perhaps, take the cue from the monkey and brave through this challenging year by applying some of its traits.

    Land & Property Food for Thought Alan Tong

    Datuk Alan Tong has over 50 years of experience in property development. He was the World President of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email feedback@fiabci-asiapacific.com.

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    Friday, February 5, 2016

    Malaysian home prices may go up 5~8%; heart-warming CNY family ties with EcoWorld 全家福

    From Left :- Director of Valuation Services Chee Kok Thim , Rahim & Co Executive Chairman Senator Tan Sri Dato' Abdul Rahim Abdul Rahman, DIrector Real Estate Agency Robert Ang and Director of Research & Strategic Planning Sulaiman Saheh after Press conference and Q&A session - Review on Malaysian Property Market and the prospects of 2016 - on Thursday Feb 4 2016.

    KUALA LUMPUR: The property market is expected to remain challenging, with the hike in house prices slowing to between 5% and 8% this year, compared with 7% to 10% last year.

    Rahim & Co Chartered Surveyors Sdn Bhd director Sulaiman Akhmady Mohd Saheh expects prices to rise but sees only marginal price gains for the residential sector.

    “Depending on location and type of property, some may see price consolidation as the gap between sellers’ asking prices is closing towards the buyers’ expected prices,” he said during the firm’s property market review.

    He said that there were concerns that the number of transactions may drop this year, as new property launches could face more challenges and slower take-up.

    He said that based on average annual household incomes to the price of average terraced homes, housing affordability could have slightly improved last year compared with 2014 although house prices in general continued to increase.

    “Nevertheless, housing affordability is still a big concern especially in urban centres and major towns throughout the country.

    “The ratio improved from 3.6 in 2014 to 3.4 last year, which indicates that an average terraced house would cost an average household or family in Malaysia 3.4 times its annual gross income,” said executive chairman Tan Sri Abdul Rahim Abdul Rahman.

    Note that the least affordable terraced house in Malaysia last year was in Sabah, with a 5.7 times ratio, Penang, 5.3 times, Kuala Lumpur, 5.2 times and Sarawak, at 4.5 times.

    He said that home ownership continued to be beyond the reach of many Malaysians, especially the younger generation.

    “The ratio indicate that generally our houses are still moderately unaffordable. For Sabah, Penang and Kuala Lumpur, average prices of terraced houses are even categorised as severely unaffordable,” he said.

    He added that the pace of construction and completion for affordable housing needed to be improved in order to address the issue of affordability.

    “It is progressing but there should be more effort, for example in PR1MA. Among these, PR1MA is to provide 175,000 units where 74,399 units are currently in various stages of construction. “At present, only 10,000 units is due to be completed by the end of the year.

    “That 74,399 units under construction should be intensified instead of completing 10,000 units by the end of the year,” he noted.

    For the commercial sector, particularly the office sector, it will still remain challenging as absorption of new supply coming into the market is expected to slow down.

    More office buildings are expected to undergo refurbishment to prevent tenants from relocating to newer office buildings.

    However, there are concerns on whether the retail property sector might be heading into a glut in supply as a number of malls are being launched within Klang Valley.

    Last year, retail sales were affected by the goods and services tax, which was implemented from April as well as a weakening ringgit, driving up costs and lowering consumer spending.

    By Nadya Ngui The Star/Asia News Network

    Related:
     Despite gloomy property sector share price of some property companies could rise

    Heartwarning CNY video on family ties goes viral




    Building strong ties: A video grab from EcoWorld’s ‘Family Portraits’ on its official YouTube page captures the essence of maintaining family values.

    PETALING JAYA: A heart-warming Chinese New Year video showing a man’s life as seen through his family photographs has been released by EcoWorld Development Group Bhd.

    The three-minute video titled Family Portraits, which can be seen on YouTube, has been viewed more than 78,000 times so far yesterday. It is meant to educate the viewer on maintaining strong family values. The video shows glimpses of the man’s life-long journey from early childhood until adulthood.



    All throughout, viewers will notice that family plays a huge role in the main character’s life as he encounters the pivotal moments in life that are familiar to many of us. The loving embrace of his family is never too far away even as he grows up and leaves his parents to pursue a career and start a family of his own.

    Family Portraits successfully conveys its message through very little dialogue, relying mostly on visual images that reflect the mood and spirit of the central theme of the video.

    The touching video, while light hearted and filled with funny moments, sends a strong message that clearly emphasises the importance of family ties and the togetherness that is an integral part of the Chinese New Year festival.

    “The love of a family is life’s greatest blessing. This Chinese New Year, capture the warmth and happiness with a family portrait and start a collection of beautiful memories to look back on for generations to come,” posted the company on its YouTube page.

    Those who wish to view the video may do so at EcoWorld’s official YouTube page.

    Earlier this week, the company announced that it was offering a special Chinese New Year treat for buyers of the few remaining units of EcoWorld’s Eco Meadow Phase 1 homes by giving rebates of RM22,888 on top of an additional 5% early bird rebate from now until Feb 22.

    Related:

      EcoWorld - Creating Tomorrow & Beyond

    http://ecoworld.my/

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    Star Media Group managing director and chief executive officer Datuk Seri Wong Chun Wai (right) presenting a souvenir to Liew. With them is specialist editor M. Shanmugam.

    Eco World to build for first time homebuyers



    Eco World chairman says banks and GLCs are in good shape

    PETALING JAYA: Eco World Development Group Bhd’s chairman Tan Sri Liew Kee Sin is confident that Malaysia is structurally sound despite the unprecedented fall in oil prices.

    Kicking off the first StarLIVE Business Series: Power Talks at Menara Star over the weekend, he said the country today was in a strong position to weather these circumstances.

    “The banks are well capitalised while many of our government-linked companies (GLCs) are solid presently such as Khazanah Nasional Bhd. This is the good news, that the banks are not in trouble while none of the GLCs are in trouble. This is our fundamental strength and key to our economy,” Liew said.

    “I am very confident that the Government will come up with a good budget next week because the Government is today listening to the people. While the ringgit is bad, the good news is that there is a solution to 1 Malaysia Development Bhd’s (1MDB) woes,” he said.

    He said that the solution was being panned out on the markets now because 1MDB’s power assets and Bandar Malaysia had been sold.

    “The economy will still grow by about 4%-5% this year despite the news and businesses need to take advantage of this,” he said.

    He also rebutted comments by an American fund manager Peter Kohli who reportedly said that investors should stay clear of investing in Malaysia.

    “I dispute him because there are a lot of people who still regard Malaysia as a jewel such as the mainland Chinese. Some are concerned that they are being involved but they are paying real money for our assets and bringing money into the country,” he said.

    Speaking also on Eco World, which he founded, Liew said he decided to start out with his own property development company after he left SP Setia Bhd, which was also founded by him, pursuant to the takeover of SP Setia by Permodalan Nasional Bhd.

    “It was very tempting and my wife told me, why not just relax and enjoy what we have attained. But I told myself that I will not fade away and thanks to my chief executive officers, we managed to recreate a brand once again,” he said.

    He said having a solid team behind him in both family and work lives was key to him having being able come this far.

    “I don’t play golf, I don’t go drinking often and my friends tell me that I am a boring person, so I decided to go back to work. If we worked together as a team, we will never go down,” he said.

    He added that investing in people was the main ingredient behind creating successful brands.

    “The people are the DNA of the company and over time, we have developed a DNA for ourselves as well. You need to invest in your people.

    “In Eco World, we have the Eco World Learning Academy where all our staff members, irrespective of their education background, are trained,” Liew said.

    “So far, in our company, we have been able to create and sustain people who are passionate and committed to their jobs,” he added.

    On his family, he said instilling values in children were a priority from a young age.

    “For my family, we told our kids that when it comes to food and book purchases, they can spend any amount of money they want to.

    “But when it comes to branded items, they cannot buy those without my permission because they do not deserve it yet. We cannot afford to be spendthrift with such luxuries in life,” Liew said.

    By Daniel Khoo The Star/Asia News Network

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