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Property News
- Thread starter FHBH12
- Start date
Well, you can consider that the S$1.2m condo is an asset that gives constant rental income stream of S$3.5k to $4k (and potentially can be serviced using CPF). If one moves into the S$1.2m condo, he/she can rent out his/her HDB for S$2k - S$2.5k, which is another constant income stream.
BMW 535I is just a liability unless one is in business or in property/insurance line.
If one is retiring why not? I don't want to drive around in my proton Saga for the next 20 years even though there is no COE in Malaysia
Property prices to continue uptrend
Wednesday, 17 September 2014
By: WONG WEI-SHEN
higher selling prices does not necessarily mean bigger profits for developers with Credit Suisse noting that developers’ cost of doing business has reportedly risen 20% in the first half of 2014. “Margins are being compressed,” it said in a sector report on. The firm is negative on the sector.
PETALING JAYA: Property prices, which rose 8% in the first quarter of this year, will continue to head north, as developers pass on the rising cost of building houses to buyers, according to Credit Suisse.
But higher selling prices does not necessarily mean bigger profits for developers with Credit Suisse noting that developers’ cost of doing business has reportedly risen 20% in the first half of 2014.
“Margins are being compressed,” it said in a sector report on Monday. The firm is negative on the sector.
Property sales, especially in the affordable category, had slowed since the start of the year with measures to curb speculative purchases dampening sentiment in the property market.
The report indicated that the Government was considering additional measures to cool down rising prices with specific plans to address the issue of affordable housing.
Credit Suisse said it believed that measures to facilitate home ownership among the lower and middle income groups such as allowing developer interest bearing schemes for first-time house buyers or those below a certain income level, would be positive for the market.
“However, a blanket policy to stop the rise in property prices would be negative as sentiment is already so low,” it added.
According to the Real Estate Housing Developers Association’s first half of 2014 property industry survey, a majority of developers are either neutral or negative about the outlook for the second half of 2014.
This sentiment is expected to carry through to next year, with only 13% of respondents optimistic about the outlook in the first half of 2015. Developers have been holding back new launches this year, with only 39% of respondents launching in the first half compared with 52% a year ago.
Take-up rates fell to 49% in the period, the first time it dipped below the 50% level.
The main reason for slower sales was the difficulty for buyers in securing financing. Properties priced between RM250,000 and RM500,000 saw a 30% rejection rate, while properties prices between RM500,000 and RM700,000 experienced a rejection rate of 24%.
Additionally, growth in housing loan approvals has slowed since December 2013 and fell 13% year-on-year in July 2014. For the first seven months of the year, total housing loan approvals were up only 1% year-on-year at RM68bil.
But despite the soft market condition, Credit Suisse said it believed that prices would continue on an uptrend next year as input costs are pushed up by the Goods and Services Tax (GST).
“Residential properties are GST exempt, but developers would look to pass on the higher costs via higher launch prices,” it said.
http://www.thestar.com.my/Business/...roperty-prices-to-continue-uptrend/?style=biz
Wednesday, 17 September 2014
By: WONG WEI-SHEN
higher selling prices does not necessarily mean bigger profits for developers with Credit Suisse noting that developers’ cost of doing business has reportedly risen 20% in the first half of 2014. “Margins are being compressed,” it said in a sector report on. The firm is negative on the sector.
PETALING JAYA: Property prices, which rose 8% in the first quarter of this year, will continue to head north, as developers pass on the rising cost of building houses to buyers, according to Credit Suisse.
But higher selling prices does not necessarily mean bigger profits for developers with Credit Suisse noting that developers’ cost of doing business has reportedly risen 20% in the first half of 2014.
“Margins are being compressed,” it said in a sector report on Monday. The firm is negative on the sector.
Property sales, especially in the affordable category, had slowed since the start of the year with measures to curb speculative purchases dampening sentiment in the property market.
The report indicated that the Government was considering additional measures to cool down rising prices with specific plans to address the issue of affordable housing.
Credit Suisse said it believed that measures to facilitate home ownership among the lower and middle income groups such as allowing developer interest bearing schemes for first-time house buyers or those below a certain income level, would be positive for the market.
“However, a blanket policy to stop the rise in property prices would be negative as sentiment is already so low,” it added.
According to the Real Estate Housing Developers Association’s first half of 2014 property industry survey, a majority of developers are either neutral or negative about the outlook for the second half of 2014.
This sentiment is expected to carry through to next year, with only 13% of respondents optimistic about the outlook in the first half of 2015. Developers have been holding back new launches this year, with only 39% of respondents launching in the first half compared with 52% a year ago.
Take-up rates fell to 49% in the period, the first time it dipped below the 50% level.
The main reason for slower sales was the difficulty for buyers in securing financing. Properties priced between RM250,000 and RM500,000 saw a 30% rejection rate, while properties prices between RM500,000 and RM700,000 experienced a rejection rate of 24%.
Additionally, growth in housing loan approvals has slowed since December 2013 and fell 13% year-on-year in July 2014. For the first seven months of the year, total housing loan approvals were up only 1% year-on-year at RM68bil.
But despite the soft market condition, Credit Suisse said it believed that prices would continue on an uptrend next year as input costs are pushed up by the Goods and Services Tax (GST).
“Residential properties are GST exempt, but developers would look to pass on the higher costs via higher launch prices,” it said.
http://www.thestar.com.my/Business/...roperty-prices-to-continue-uptrend/?style=biz
Johor property assessments review
BY NELSON BENJAMIN
Published: Monday November 3, 2014 MYT 12:00:00 AM
Updated: Monday November 3, 2014 MYT 7:14:17 AM
JOHOR BARU: The annual assessment for properties in the state is expected to rise following the state government’s decision to revise the value of properties across the board.
However, Johor Mentri Besar Datuk Mohamed Khaled Nordin said most homeowners would only face a marginal hike in assessment as the state had decided to reduce the rate for residential properties under the revaluation exercise (assessment is computed by multiplying the projected annual income rental with the prevailing assessment rate).
“The last evaluation was done about 15 to 20 years ago. A house costing RM50,000 then will not be valued the same now. We have to revise the value of the property,” said Mohamed Khaled.
He said the decision to reduce the assessment rate for homeowners was made because the state did not want to burden the people with a higher cost of living.
It is learnt that the assessment rate for residential properties, which currently ranges between 0.20% and 0.35%, would be reduced to 0.13% to 0.25%, depending on localities.
Those staying in low-cost housing would only have to pay an additional RM5 a year, or nothing at all, aftr the revision.
The new assessment rates for industries would be between 0.65% and 0.85%, while the rates for commercial properties would be between 0.45% and 0.55%.
Mohamed Khaled said the proposed rates would be displayed for public objections by local councils.
He also reminded the people to pay their assessments.
“It is pointless to blame the councils for not building infrastructure if people are not paying up,” he said, adding that the Pasir Gudang Muni*cipal Council only managed to collect about half of what was due.
http://www.thestar.com.my/News/Nati...crease-after-state-govts-decision-to-make-re/
BY NELSON BENJAMIN
Published: Monday November 3, 2014 MYT 12:00:00 AM
Updated: Monday November 3, 2014 MYT 7:14:17 AM
JOHOR BARU: The annual assessment for properties in the state is expected to rise following the state government’s decision to revise the value of properties across the board.
However, Johor Mentri Besar Datuk Mohamed Khaled Nordin said most homeowners would only face a marginal hike in assessment as the state had decided to reduce the rate for residential properties under the revaluation exercise (assessment is computed by multiplying the projected annual income rental with the prevailing assessment rate).
“The last evaluation was done about 15 to 20 years ago. A house costing RM50,000 then will not be valued the same now. We have to revise the value of the property,” said Mohamed Khaled.
He said the decision to reduce the assessment rate for homeowners was made because the state did not want to burden the people with a higher cost of living.
It is learnt that the assessment rate for residential properties, which currently ranges between 0.20% and 0.35%, would be reduced to 0.13% to 0.25%, depending on localities.
Those staying in low-cost housing would only have to pay an additional RM5 a year, or nothing at all, aftr the revision.
The new assessment rates for industries would be between 0.65% and 0.85%, while the rates for commercial properties would be between 0.45% and 0.55%.
Mohamed Khaled said the proposed rates would be displayed for public objections by local councils.
He also reminded the people to pay their assessments.
“It is pointless to blame the councils for not building infrastructure if people are not paying up,” he said, adding that the Pasir Gudang Muni*cipal Council only managed to collect about half of what was due.
http://www.thestar.com.my/News/Nati...crease-after-state-govts-decision-to-make-re/
Anyone who has a property in Johor can share the property tax paid or any other expenses per year? Thanks.
Home prices in Johor slide in second quarter
Prices of newer projects falling, but resale market stays strong
.
Published on Nov 4, 2014 6:33 AM
115 0 0 0 PRINT EMAIL
Despite the gloom in the high-rise residential sector, the industrial and commercial property sector in the Iskandar development zone is still doing well, said Mr Wee Soon Chit, executive director of Landserve in Johor. -- PHOTO: BLOOMBERG
By Rennie Whang
Home prices in Johor state, which takes in the huge Iskandar development zone, dipped in the second quarter for the first time in more than two years.
Prices of high-rise units - which have sprung up in large numbers recently in Iskandar - tumbled 13.5 per cent from the first quarter.
The figures are from Johor's House Price Index (HPI) in a recent Maybank IB Research report.
It showed that the overall index fell 1.6 per cent quarter on quarter - though it was still up 4.6 per cent from the second quarter last year.
The slide has been caused by the Malaysian government's cooling measures from January, said analyst Wong Wei Sum of Maybank IB Research.
The raising of the minimum price of property that can be bought by foreigners - from RM500,000 (S$195,000) to RM1 million - since May has hit demand as well, Mr Wong told The Straits Times.
Still, property consultants noted that while prices of newer projects are falling, secondary market prices remain robust.
Prices in newer developed estates have run up to an unsustainable level, leading to a large price difference between older and newer areas, they said.
"Prices of properties launched up till 10 years ago have been gradually rising over the past 10 years," said Mr V. Sivadas, executive director of PA International Property Consultants.
"But in Iskandar in the last five to 10 years, developers' pricing has shot through the roof."
Developers have been hiking prices "indiscriminately" in response to changes in the minimum value for property purchases by foreigners, Mr Sivadas added.
"The developers' market will eventually find its own level. If developers can't sell, they will have to be more innovative in marketing strategies or adjust pricing."
Demand for recent property launches has been softer than from the second half of 2012 to the first half of 2013, Mr Wong noted.
For example, by the end of September, the first phase of Guangzhou R&F's Princess Cove received about 46 per cent bookings for its 1,488 apartment units which were launched at the end of July. Half of its 79 retail lots were booked. The take-up rate for UEM Sunrise's Almas condominium in Puteri Harbour was 25 to 30 per cent as at the end of September, while Tropicana has yet to launch its high-rise units in Danga Bay.
Property prices are expected to stay weak or flat, especially for mixed-use and high-rise residential projects over the medium term, given the "more than ample" incoming supply by the end of next year, said Mr Wong.
A study by property consultancy Landserve says 18,718 high-rise residential units are set to be added by the end of next year, with 40,374 units more by the end of 2017.
Iskandar Waterfront Holdings is also said to be in talks with several foreign developers to sell some of its land in Danga Bay or Permas Jaya, which could raise fears of a housing glut in Iskandar, said Mr Wong.
Still, despite the gloom in the high-rise residential sector, the industrial and commercial property sector is still doing well in Iskandar, said Mr Wee Soon Chit, executive director of Landserve in Johor.
About two weeks ago, all 52 semi-detached and detached factory units in Phase 1 of the iBP@Nusajaya in the Southern Industrial and Logistics Clusters (SiLC) were sold on launch day - from RM3 million per unit on average. A week earlier, developer AME had sold all 52 three- and four-storey shop offices in Nusajaya Square 2, also in SiLC, from RM1.4 million per unit.
Said Mr Wee: "The perception that the property market has softened in Iskandar is mainly influenced by the performance of the high-rise residential sector, which is rather misleading as other sectors are still doing well."
Prices of newer projects falling, but resale market stays strong
.
Published on Nov 4, 2014 6:33 AM
115 0 0 0 PRINT EMAIL
Despite the gloom in the high-rise residential sector, the industrial and commercial property sector in the Iskandar development zone is still doing well, said Mr Wee Soon Chit, executive director of Landserve in Johor. -- PHOTO: BLOOMBERG
By Rennie Whang
Home prices in Johor state, which takes in the huge Iskandar development zone, dipped in the second quarter for the first time in more than two years.
Prices of high-rise units - which have sprung up in large numbers recently in Iskandar - tumbled 13.5 per cent from the first quarter.
The figures are from Johor's House Price Index (HPI) in a recent Maybank IB Research report.
It showed that the overall index fell 1.6 per cent quarter on quarter - though it was still up 4.6 per cent from the second quarter last year.
The slide has been caused by the Malaysian government's cooling measures from January, said analyst Wong Wei Sum of Maybank IB Research.
The raising of the minimum price of property that can be bought by foreigners - from RM500,000 (S$195,000) to RM1 million - since May has hit demand as well, Mr Wong told The Straits Times.
Still, property consultants noted that while prices of newer projects are falling, secondary market prices remain robust.
Prices in newer developed estates have run up to an unsustainable level, leading to a large price difference between older and newer areas, they said.
"Prices of properties launched up till 10 years ago have been gradually rising over the past 10 years," said Mr V. Sivadas, executive director of PA International Property Consultants.
"But in Iskandar in the last five to 10 years, developers' pricing has shot through the roof."
Developers have been hiking prices "indiscriminately" in response to changes in the minimum value for property purchases by foreigners, Mr Sivadas added.
"The developers' market will eventually find its own level. If developers can't sell, they will have to be more innovative in marketing strategies or adjust pricing."
Demand for recent property launches has been softer than from the second half of 2012 to the first half of 2013, Mr Wong noted.
For example, by the end of September, the first phase of Guangzhou R&F's Princess Cove received about 46 per cent bookings for its 1,488 apartment units which were launched at the end of July. Half of its 79 retail lots were booked. The take-up rate for UEM Sunrise's Almas condominium in Puteri Harbour was 25 to 30 per cent as at the end of September, while Tropicana has yet to launch its high-rise units in Danga Bay.
Property prices are expected to stay weak or flat, especially for mixed-use and high-rise residential projects over the medium term, given the "more than ample" incoming supply by the end of next year, said Mr Wong.
A study by property consultancy Landserve says 18,718 high-rise residential units are set to be added by the end of next year, with 40,374 units more by the end of 2017.
Iskandar Waterfront Holdings is also said to be in talks with several foreign developers to sell some of its land in Danga Bay or Permas Jaya, which could raise fears of a housing glut in Iskandar, said Mr Wong.
Still, despite the gloom in the high-rise residential sector, the industrial and commercial property sector is still doing well in Iskandar, said Mr Wee Soon Chit, executive director of Landserve in Johor.
About two weeks ago, all 52 semi-detached and detached factory units in Phase 1 of the iBP@Nusajaya in the Southern Industrial and Logistics Clusters (SiLC) were sold on launch day - from RM3 million per unit on average. A week earlier, developer AME had sold all 52 three- and four-storey shop offices in Nusajaya Square 2, also in SiLC, from RM1.4 million per unit.
Said Mr Wee: "The perception that the property market has softened in Iskandar is mainly influenced by the performance of the high-rise residential sector, which is rather misleading as other sectors are still doing well."
Yes. But do your homework.
Price of living high
BY SHAREN - 7 NOVEMBER 2014 @ 12:31 AM
OWNERS’ RESPONSIBILITY: It is important to pay maintenance and sinking fund charges
SHOULD owners of highrise apartments be taken to court for defaulting on their monthly maintenance and sinking fund charges?
Living in a high-rise building has its advantages, such as better view and zero-noise pollution.
Many innovative developers like Tropicana Corp Bhd, Mah Sing Group Bhd, UEM Sunrise Bhd, I-Berhad, SP Setia Bhd, Bandar Raya Development Bhd and Bukit Kiara Properties Sdn Bhd have become the choice for buyers when it comes to luxurious homes.
Depending on the developers, there are many amenities to be enjoyed.
For example, the Tropicana City Tropics serviced apartments in Petaling Jaya offer a gymnasium, 40m lap pool, beach pool, wading pool, tennis and squash courts, sauna, steam room, function room, laundromat, housekeeping facilities and concierge services.
Another important element for high-rise developments is security. Most developers offer three-tier security that includes keycard protocols, closed-circuit television cameras and vehicle access card system, in addition to 24-hour physical security.
Buyers don’t mind paying for such properties, which can range from RM400,000 to more than RM1.5 million each.
Even apartments within the affordable range of RM250,000 to RM400,000 offer facilities such as swimming pools, tennis courts and security.
While owning an apartment with all the amenities can be a pleasure, some owners have refused to pay the maintenance and sinking fund charges.
When there is not enough money in the pot, the management of the building will have a tough time maintaining the properties. In the long run, the apartment building will start to deteriorate.
So, if home owners default on payments and the buildings and their surroundings are affected, the developers should not be blamed.
Many may have forgotten the terms in the sales and purchase agreement and deed of mutual covenants (DMC) of a property in a high-rise residential block, where it is clearly stated that the monthly maintenance and sinking fund charges must be paid.
The charges are for the joint management body (JMB) to provide services and maintain the property. The JMB is made up of the developer and/ or developer representative and purchasers.
If owners do not pay, the JMB may not be able to even provide the basic services, such as maintaining the lifts or drainage system.
Maintenance fees are collected for repair and maintenance of common areas, carpark, footpaths, roads, windows, gutters, drains, lifts, and electricity and lighting for common areas, landscape and gardening, pest control, security (internal locks and doors, intercoms, external doors and gates), safety (smoke alarms, fire extinguishers, health and safety inspections) and refuse collection and recycling services, as well as professional charges (building insurance public liability insurance, etc) and JMB’s legal/auditor fees.
A sinking fund is basically money put aside yearly to cover the cost of major long-term expenses, such as lift or roof replacement or repair. It can be used for refurbishment and improvement of the building.
Paying the maintenance and sinking fund charges is a collective obligation for the common good of all residents in any residential building.
Despite that, some owners refuse to pay the monthly maintenance charges, knowing that shared services cannot be interrupted and there is a lengthy legal process to recover the monies due.
It is a legal requirement for owners of a high-rise property to pay their dues under the Strata Management Act 2013.
The law prescribes a specific recovery process in the event an owner is in default and fails to meet this requirement. An owner is deemed to be in default if the monthly maintenance and sinking fund charges are outstanding for more than 60 days.
As a home owner, there is no way one can escape from paying. If you do not pay, the JMB can take legal action against you under the DMC.
This may include posting the information of the defaulting property owners on the notice board, issuing reminders and warning letters to the parties concerned, imposing interest and/or collection charges on the arrears and taking legal action through the Small Claims Tribunal.
The JMB can also claim outstandingdues from owners when they sell their properties. It can get a court order for money to be deducted from the sale proceeds.
In the end, the owner will still have to pay his dues, plus fines and late payment charges.
Malaysia needs a regulatory body to spearhead transformation in this area so that home owners who pay their monthly maintenance and sinking fund charges do not suffer and that developers are not blamed for maintenance or structural problems.
A regulatory body can lead in the management and maintenance of high-rise projects and take stern action against defaulters.
http://www.nst.com.my/node/50263
BY SHAREN - 7 NOVEMBER 2014 @ 12:31 AM
OWNERS’ RESPONSIBILITY: It is important to pay maintenance and sinking fund charges
SHOULD owners of highrise apartments be taken to court for defaulting on their monthly maintenance and sinking fund charges?
Living in a high-rise building has its advantages, such as better view and zero-noise pollution.
Many innovative developers like Tropicana Corp Bhd, Mah Sing Group Bhd, UEM Sunrise Bhd, I-Berhad, SP Setia Bhd, Bandar Raya Development Bhd and Bukit Kiara Properties Sdn Bhd have become the choice for buyers when it comes to luxurious homes.
Depending on the developers, there are many amenities to be enjoyed.
For example, the Tropicana City Tropics serviced apartments in Petaling Jaya offer a gymnasium, 40m lap pool, beach pool, wading pool, tennis and squash courts, sauna, steam room, function room, laundromat, housekeeping facilities and concierge services.
Another important element for high-rise developments is security. Most developers offer three-tier security that includes keycard protocols, closed-circuit television cameras and vehicle access card system, in addition to 24-hour physical security.
Buyers don’t mind paying for such properties, which can range from RM400,000 to more than RM1.5 million each.
Even apartments within the affordable range of RM250,000 to RM400,000 offer facilities such as swimming pools, tennis courts and security.
While owning an apartment with all the amenities can be a pleasure, some owners have refused to pay the maintenance and sinking fund charges.
When there is not enough money in the pot, the management of the building will have a tough time maintaining the properties. In the long run, the apartment building will start to deteriorate.
So, if home owners default on payments and the buildings and their surroundings are affected, the developers should not be blamed.
Many may have forgotten the terms in the sales and purchase agreement and deed of mutual covenants (DMC) of a property in a high-rise residential block, where it is clearly stated that the monthly maintenance and sinking fund charges must be paid.
The charges are for the joint management body (JMB) to provide services and maintain the property. The JMB is made up of the developer and/ or developer representative and purchasers.
If owners do not pay, the JMB may not be able to even provide the basic services, such as maintaining the lifts or drainage system.
Maintenance fees are collected for repair and maintenance of common areas, carpark, footpaths, roads, windows, gutters, drains, lifts, and electricity and lighting for common areas, landscape and gardening, pest control, security (internal locks and doors, intercoms, external doors and gates), safety (smoke alarms, fire extinguishers, health and safety inspections) and refuse collection and recycling services, as well as professional charges (building insurance public liability insurance, etc) and JMB’s legal/auditor fees.
A sinking fund is basically money put aside yearly to cover the cost of major long-term expenses, such as lift or roof replacement or repair. It can be used for refurbishment and improvement of the building.
Paying the maintenance and sinking fund charges is a collective obligation for the common good of all residents in any residential building.
Despite that, some owners refuse to pay the monthly maintenance charges, knowing that shared services cannot be interrupted and there is a lengthy legal process to recover the monies due.
It is a legal requirement for owners of a high-rise property to pay their dues under the Strata Management Act 2013.
The law prescribes a specific recovery process in the event an owner is in default and fails to meet this requirement. An owner is deemed to be in default if the monthly maintenance and sinking fund charges are outstanding for more than 60 days.
As a home owner, there is no way one can escape from paying. If you do not pay, the JMB can take legal action against you under the DMC.
This may include posting the information of the defaulting property owners on the notice board, issuing reminders and warning letters to the parties concerned, imposing interest and/or collection charges on the arrears and taking legal action through the Small Claims Tribunal.
The JMB can also claim outstandingdues from owners when they sell their properties. It can get a court order for money to be deducted from the sale proceeds.
In the end, the owner will still have to pay his dues, plus fines and late payment charges.
Malaysia needs a regulatory body to spearhead transformation in this area so that home owners who pay their monthly maintenance and sinking fund charges do not suffer and that developers are not blamed for maintenance or structural problems.
A regulatory body can lead in the management and maintenance of high-rise projects and take stern action against defaulters.
http://www.nst.com.my/node/50263
How come I don't know about this? U mean this weekend launch?
I thought Ponderosa Vista's launches are semi-d only & start from RM 1.6m then......humm.......let me check tomorrow's papers
I passed by the road every weekend.....haha.....ok let me chk it out tomorrow... Could be Ponderosa Green but I don't see anything on Berinda's website (which may not be updated). Thanks.
In today's Straits Times, it was mentioned SG landed prices are dropping faster than apartments mainly due to TDRS and the high quantum required for landed. 1 property expert even said that some prospective SG landed buyers are turning to Johor landed instead. Not quite sure if this is true.
From what I know, SG landed buyers are an affluent bunch and rarely consider Johor landed, unless they have close existing connections to Malaysia......hee
From what I know, SG landed buyers are an affluent bunch and rarely consider Johor landed, unless they have close existing connections to Malaysia......hee
Johor to ensure people have a place to call home
Published: Monday November 10, 2014 MYT 12:00:00 AM
Updated: Monday November 10, 2014 MYT 7:18:18 AM
GELANG PATAH: The state budget, which will be unveiled on Thursday, is expected to introduce initiatives to help people own affordable homes in Johor, says Mentri Besar Datuk Mohamed Khaled Nordin.
He said the state government had always been looking for ways to help the people and ease their burden so that they could have their own roof.
“We understand that having a house is the basis of a happy family,” he said after launching UEM Sunrise Bhd’s Denai Nusantara affordable housing project yesterday.
“Hence, we have decided to come up with such initiatives,” Mohamed Khaled said.
The project comprises five 12-storey blocks housing 1,109 units with three bedrooms each.
Besides being affordably priced at RM150,000, the residents will also get to enjoy facilities such as a multi-purpose hall, kindergartens, surau and a recreational park.
“Projects like these will help to change the people’s belief that affordable homes do not necessarily mean narrow and small living spaces with no proper amenities,” said Mohamed Khaled.
He said the state also wanted to dispel public perception that Iskandar Malaysia only had property with sky-high prices.
Mohamed Khaled said the state had a target to have some 5,000 affordable housing units in the Gelang Patah area by 2018.
http://www.thestar.com.my/News/Nation/2014/11/10/Johor-to-ensure-people-have-a-place-to-call-home/
Published: Monday November 10, 2014 MYT 12:00:00 AM
Updated: Monday November 10, 2014 MYT 7:18:18 AM
GELANG PATAH: The state budget, which will be unveiled on Thursday, is expected to introduce initiatives to help people own affordable homes in Johor, says Mentri Besar Datuk Mohamed Khaled Nordin.
He said the state government had always been looking for ways to help the people and ease their burden so that they could have their own roof.
“We understand that having a house is the basis of a happy family,” he said after launching UEM Sunrise Bhd’s Denai Nusantara affordable housing project yesterday.
“Hence, we have decided to come up with such initiatives,” Mohamed Khaled said.
The project comprises five 12-storey blocks housing 1,109 units with three bedrooms each.
Besides being affordably priced at RM150,000, the residents will also get to enjoy facilities such as a multi-purpose hall, kindergartens, surau and a recreational park.
“Projects like these will help to change the people’s belief that affordable homes do not necessarily mean narrow and small living spaces with no proper amenities,” said Mohamed Khaled.
He said the state also wanted to dispel public perception that Iskandar Malaysia only had property with sky-high prices.
Mohamed Khaled said the state had a target to have some 5,000 affordable housing units in the Gelang Patah area by 2018.
http://www.thestar.com.my/News/Nation/2014/11/10/Johor-to-ensure-people-have-a-place-to-call-home/
Supply glut, tightening expat demand depressing rents
By Lee [email protected]@LeeMeixianBT
Singapore 10 Nov 5:50 AM
Yishun-Sembawang area the worst affected while Bishan-Ang Mo Kio bucks trend
THE private residential leasing market has grown steadily weaker from the previous year in most districts of Singapore, with unpopular suburban locations the hardest hit.
And no reprieve is in sight as latest Q3 figures show non-landed private home rentals sliding another 1.1 per cent from Q2, led by the core central region.
From Q2 last year - when loan restrictions had not come into force - to Q2 this year, rents fell across all but seven of the 28 districts, with District 20 (Bishan, Ang Mo Kio) bucking the trend in a big way.
Condos and apartments in District 27 (Yishun and Sembawang) suffered the steepest rent decline of 10.6 per cent. Rents stayed flat in prime District 11 (Watten Estate, Novena, Thomson), as well as District 7 (Middle Road, Golden Mile) and District 12 (Balestier, Toa Payoh, Serangoon). Three others saw single-digit increases. Only District 20 (Bishan, Ang Mo Kio) deviated with a whopping 15.9 per cent jump in rental prices.
SLP International executive director Nicholas Mak noted that the number of rental transactions also shot up in Bishan and Ang Mo Kio by 138 per cent from 88 in Q2 last year, to 209 in Q2 this year.
DTZ South-east Asia regional head of research Lee Lay Keng said: "All things being equal, projects in mature housing estates could command higher rents, given their accessibility to public transport and other amenities, compared to newer and still-developing housing estates.
"This could explain why rents in the mature housing estates of Bishan and Ang Mo Kio saw double-digit growth, compared to rents in other housing estates such as Yishun and Sembawang."
But other reasons could also affect the numbers, such as the rejuvenation of Bishan Park, or the completion of the superbly located Centro Residences in Q1.
The many small and therefore investor-friendly units at Centro Residences with higher psf prices may also have skewed the estate's median rents. The condo recorded 107 lease transactions in Q1 and Q2 alone.
But new rental stock can cut both ways. When there is a supply glut with too many projects being completed around the same time, it could intensify competition for tenants.
This was the case in Yishun and Sembawang, where more than 1,000 units were completed between 2013 and H1 2014, explained Ms Lee. In contrast, no other major residential project was completed in District 20 between Q2 2013 and Q2 2014 besides the 329-unit Centro Residences.
For the next six to 12 months, the slowing inflow of foreigners into Singapore and consequent shrinking tenant pool, contrasted against a growing supply of completed condo units, is expected to continue to depress rents, especially in the suburbs.
"Between H2 and 2015 alone, close to 30,000 units are expected to be completed, substantially greater than the past two years' supply of 23,000 units. Of this, about 56 per cent will be in the suburban areas, and is thus likely to exert a further strain on rents as potential tenants will have greater bargaining power," said Ms Lee.
"The imminent supply glut could lead to a flight to quality, as some tenants will be able to move closer to the CBD for the same rental budget. The result is that the OCR (outside central region) residential landlords may get the short end of the stick," added Mr Mak.
The reverse was true before the global financial crisis - demand for rental homes was high amid a tight supply.
This was when corporations still defrayed much of expats' housing and other allowances. Part of their generosity had to do with wanting to incentivise their employees to relocate to Asia.
But such incentives became less relevant after the crisis, as "economic refugees" fled their recession-ravaged countries to Asian financial centres such as Singapore and Hong Kong that have weathered the crisis better.
As banks and corporations kept a tighter rein on purse strings post-crisis, they also began to realise that expat packages were no longer required to draw foreigners here. So these packages slowly went away, save for a small minority in C-suite roles, said Wesley Hui, director at headhunter firm WiseNet Asia.
Now, most expats are employed on local terms and simply given a lump-sum allowance to take care of their housing, transport, and children's education, he added.
Meanwhile, Singapore's continued tightening of foreign hiring is expected to further cut the number of tenants looking for a temporary home here.
http://www.businesstimes.com.sg/real-estate/supply-glut-tightening-expat-demand-depressing-rents
By Lee [email protected]@LeeMeixianBT
Singapore 10 Nov 5:50 AM
Yishun-Sembawang area the worst affected while Bishan-Ang Mo Kio bucks trend
THE private residential leasing market has grown steadily weaker from the previous year in most districts of Singapore, with unpopular suburban locations the hardest hit.
And no reprieve is in sight as latest Q3 figures show non-landed private home rentals sliding another 1.1 per cent from Q2, led by the core central region.
From Q2 last year - when loan restrictions had not come into force - to Q2 this year, rents fell across all but seven of the 28 districts, with District 20 (Bishan, Ang Mo Kio) bucking the trend in a big way.
Condos and apartments in District 27 (Yishun and Sembawang) suffered the steepest rent decline of 10.6 per cent. Rents stayed flat in prime District 11 (Watten Estate, Novena, Thomson), as well as District 7 (Middle Road, Golden Mile) and District 12 (Balestier, Toa Payoh, Serangoon). Three others saw single-digit increases. Only District 20 (Bishan, Ang Mo Kio) deviated with a whopping 15.9 per cent jump in rental prices.
SLP International executive director Nicholas Mak noted that the number of rental transactions also shot up in Bishan and Ang Mo Kio by 138 per cent from 88 in Q2 last year, to 209 in Q2 this year.
DTZ South-east Asia regional head of research Lee Lay Keng said: "All things being equal, projects in mature housing estates could command higher rents, given their accessibility to public transport and other amenities, compared to newer and still-developing housing estates.
"This could explain why rents in the mature housing estates of Bishan and Ang Mo Kio saw double-digit growth, compared to rents in other housing estates such as Yishun and Sembawang."
But other reasons could also affect the numbers, such as the rejuvenation of Bishan Park, or the completion of the superbly located Centro Residences in Q1.
The many small and therefore investor-friendly units at Centro Residences with higher psf prices may also have skewed the estate's median rents. The condo recorded 107 lease transactions in Q1 and Q2 alone.
But new rental stock can cut both ways. When there is a supply glut with too many projects being completed around the same time, it could intensify competition for tenants.
This was the case in Yishun and Sembawang, where more than 1,000 units were completed between 2013 and H1 2014, explained Ms Lee. In contrast, no other major residential project was completed in District 20 between Q2 2013 and Q2 2014 besides the 329-unit Centro Residences.
For the next six to 12 months, the slowing inflow of foreigners into Singapore and consequent shrinking tenant pool, contrasted against a growing supply of completed condo units, is expected to continue to depress rents, especially in the suburbs.
"Between H2 and 2015 alone, close to 30,000 units are expected to be completed, substantially greater than the past two years' supply of 23,000 units. Of this, about 56 per cent will be in the suburban areas, and is thus likely to exert a further strain on rents as potential tenants will have greater bargaining power," said Ms Lee.
"The imminent supply glut could lead to a flight to quality, as some tenants will be able to move closer to the CBD for the same rental budget. The result is that the OCR (outside central region) residential landlords may get the short end of the stick," added Mr Mak.
The reverse was true before the global financial crisis - demand for rental homes was high amid a tight supply.
This was when corporations still defrayed much of expats' housing and other allowances. Part of their generosity had to do with wanting to incentivise their employees to relocate to Asia.
But such incentives became less relevant after the crisis, as "economic refugees" fled their recession-ravaged countries to Asian financial centres such as Singapore and Hong Kong that have weathered the crisis better.
As banks and corporations kept a tighter rein on purse strings post-crisis, they also began to realise that expat packages were no longer required to draw foreigners here. So these packages slowly went away, save for a small minority in C-suite roles, said Wesley Hui, director at headhunter firm WiseNet Asia.
Now, most expats are employed on local terms and simply given a lump-sum allowance to take care of their housing, transport, and children's education, he added.
Meanwhile, Singapore's continued tightening of foreign hiring is expected to further cut the number of tenants looking for a temporary home here.
http://www.businesstimes.com.sg/real-estate/supply-glut-tightening-expat-demand-depressing-rents
Just passed by the Greenland site yesterday.
There are now workers now busy doing some landscaping works fronting the main road and doing look like final finishing works to the showroom building at the far end.
Looks like the launching will be anytime soon, perhaps before the year ends.
There are now workers now busy doing some landscaping works fronting the main road and doing look like final finishing works to the showroom building at the far end.
Looks like the launching will be anytime soon, perhaps before the year ends.
Be "cautious" of GRR scheme properties
http://www.propertyguru.com.my/property-news/2014/11/72068/be-cautious-of-rent-guarantees
http://www.propertyguru.com.my/property-news/2014/11/72068/be-cautious-of-rent-guarantees
Hi,
I've bought a unit in the Hibiscus@Port Dickson by KL Metro group. Is this considered under GRR scheme properties? What do you think of this project and it's developer? Thanks.
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