PR1MA @ Permatang Pauh

December 16th, 2017 No comments

pr1ma-pematang-pauh-main

PR1MA @ Permatang Pauh, the first PR1MA affordable housing in mainland Penang, undertaken by Excel Focus Properties Sdn. Bhd. Strategically located within the established township of Permatang Pauh, only about 500 meters away from Butterworth-Kulim Expressway. Neighboring communities include Taman Naluri, Taman Naluri Ria and Taman Janggus Jaya.

The proposed development comprises two blocks of 34-storey condominium, offering 1,017 affordable units with standard unit size of 900 sq.ft.

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name : PR1MA @ Permatang Pauh
Location :
 Permatag Pauh, Penang
Property Type : Affordable housing
Total Units: 1,017
Built-up Area: 900 sq.ft.
Indicative Price: RM250,000
Developer : Excel Focus Properties Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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Applications for MyDeposit 2018 opens today

December 15th, 2017 1 comment

MyDeposit-logoThe applications for the First House Deposit Financing Scheme or MyDeposit for next year will be opened from tomorrow (Dec 15) until Feb 15, 2018.

Deputy Urban Wellbeing, Housing and Local Government Minister Datuk Halimah Mohamed Sadique said the public could register online at https://sprn.kpkt.gov.my.

“At the tabling of the 2018 Budget, Prime Minister Datuk Seri Najib Abdul Razak agreed to continue the MyDeposit scheme with an allocation of RM25 million,” she said when replying to a question from Senator Datuk Abidullah Salleh on the amount of aid channelled through the MyDeposit scheme and the number of recipients to date, at the Dewan Negara sitting today.

Since it was opened from April 7, 2016 until last October, 1,469 applications were approved with a payment amounting to more than RM39 million.

The MyDeposit scheme is aimed at helping the middle income group to buy their first home under private housing projects which did not get any subsidy.

Source: Bernama

What is MyDeposit Scheme?

First Home Deposit Scheme (MyDeposit) is a special product that was introduced by the Government to help the middle income group to own their dream home. The government has announced the allocation of RM200 million as a contribution to the deposit for the purchase of a first home per household.

In line with the National Housing Policy’s objectives to increase the people’s ability to buy their own house, MyDeposit Scheme was launched by the Government through the Ministry of Housing and Local Government.

If you are buying a new house below RM500,000 and your gross income is not more than RM10,000, then you are eligible to apply for MyDeposit Scheme. Successful recipients will receive a 10 per cent down payment of the house price or a maximum of RM30,000 for properties below RM500,000.

FIND OUT MORE ABOUT MYDEPOSIT SCHEME

 

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George Town among cheapest cities for expats in Asia

December 15th, 2017 No comments

20161207_PLA_PENANG _PHOTO BY SAM FONG

George Town in Penang and Johor Bahru in Johor were identified as some of the cheapest locations for expatriates in Asia, according to research by ECA International.

The two cities join Mongolia’s capital Ulaanbaatar, Yangon (Myanmar) and Karachi (Pakistan) as some of the region’s most affordable cities.

Meanwhile, Kuala Lumpur is ranked 213th out of 262 cities in the global rankings.

ECA International carries out two cost-of-living surveys annually to help companies calculate the cost of living allowances.

“This highlights the curiosity of managing the movement of people in Asia for many companies and their HR departments. Asia is home to some of the world’s most expensive locations as well it’s cheapest.

“This level of variety is only matched in Africa which is home to both the world’s most expensive location and it’s cheapest,” said ECA International regional director for Asia Lee Quane in a statement.

Meanwhile, for the first time since 2014, Singapore is ranked 21st – dropping out of the top 20 most expensive cities in the world for expatriates.

The findings of the research showed that the Lion City fell by five places since 2016, having been overtaken in the rankings by cities such as Tel Aviv (Israel) and Copenhagen (Denmark).

“European currencies have performed very strongly over the past 12 months, outpacing many other currencies in the world – including the Singapore dollar.

“This has resulted in Singapore slipping down the rankings slightly, with some of the more expensive European cities rising above it on the table,” added Quane.

Having said that, Asian cities still dominate the global rankings, with over half of the top 50 most expensive locations surveyed this year located in Asia, with 14 Chinese cities alone making up the 26 Asian cities in the top 50.

In Japan, Tokyo gave up its global top spot, falling to eighth place.

Despite this, Tokyo remains the most expensive location for expatriates in the Asia-Pacific region. Other Japanese cities have performed similarly — with Yokohama, Nagoya and Osaka all dropping out of the top 10.

“Japanese cities have dropped in the rankings as the yen has weakened in the last year. However, with four cities in the global top 20, Japan is still an expensive place for expatriates,” added Quane.

Hong Kong is once again one of the top 10 most expensive locations in the world for expatriates, ranking ninth out of the 262 cities in ECA International’s ranking.

On the global rankings, Luanda (Angola) tops the list. It has been among the top five most expensive cities since 2012.

“The cost of goods typically purchased by international assignees in Luanda, which was already high due to poor infrastructure and significant oil-fuelled demand, continues to be pushed even higher.

“The Angolan kwanza is increasingly overvalued, which pushes up relative costs; while the ongoing weakness of the black-market exchange rate has also inflated the price of imported goods,” said Quane.

Khartoum, Sudan, is up to second place in the global rankings and has risen by 224 places in just five years, as currency shortages and rising prices continue to impact the African nation.

Central London has slipped down the rankings and is now the 139th most expensive location for expats, down 36 places on the 2016 survey and falling 78 places in five years.

Other UK cities have shown the same trend, with the next most expensive cities, Edinburgh and Manchester, dropping to 163rd and 173rd, respectively.

Source: EdgeProp.my

 

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UPCOMING: Nibong Tebal / Mapahill Development

December 11th, 2017 No comments

proposed-by-mapahill-development

A proposed 21-acres mixed development by Mapahill Development Sdn. Bhd. within the township of Nibong Tebal. Located between Jalan Sungai Daun and Jalan Ooi Kar Seng, adjacent to Taman Bistari. It is only 4km away from Jawi toll plaza, about 20 minutes drive to Penang Second bridge.

This development comprises a mix of residential and commercial components, to be development in four phases:

PHASE 1

  • 2-storey semi-detached (12 units)
  • 2-storey terrace (42 units)

PHASE 2

  • 2-storey terrace (42 units)

PHASE 3

  • 2-storey shop office (3 units)
  • 2-storey semi-detached (58 units)
  • 2-storey bungalow (15 units)
  • 2-storey terrace (14 units)

PHASE 4

  • 2-storey terrace (9 units)

The project is still pending for approval, more details to be available upon official launch.

Project Name : (to be confirmed)
Location : Nibong Tebal
Property Type : Bungalow, semi-d, terrace & shop houses
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Hooi Hwa Development Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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No bubble in property sector

December 8th, 2017 6 comments

Some global property markets are overheated at the moment, but Malaysia certainly is not in the bubble territory.

In those markets that are overheated, home prices are rising faster than salaries amid slow demand. There is also rising interest rates, and shaky loans become the norm.

These are probably the signs to watch out for. Despite all the negativity about the Malaysian property market, it is still safe.

penang-market-view

Aerial view of Seri Tanjung Pinang

 

According to Zerin Properties founder Previndran Singhe, Bank Negara Malaysia’s early intervention to remove the developers interest bearing scheme has stabilised the market.

“I don’t think the local real estate market will crash, or there is any kind of bubble. We have not experienced the typical run-up to a bubble, which is exuberance, high price increase, demand outstripping supply and banks taking huge risks in mortgages.

“Yes, unsold units have increased. Developers need to restrategise, where either the price or product will have to change,” Previndran told NST Property.

He said although launches in the first half of this year have been slow, they are expected to pick up.

He opined that other than a drop in stamp duty and interest rates, proper communication of government policies and the impact on the market are required to boost the sector.

“We expect next year to be better as the positive economic growth this year will be felt next year. Also as a benchmark, we always lag six months to a year from Singapore, and the Singapore market has started to improve,” he said.

Still a buyers’ market

Malaysian Institute of Estate Agents past president Siva Shanker said the real estate market will continue to have mixed demand.

“I think the segment that will suffer the most in the next two years are properties in the RM500,000 to RM1 million range. Anything above RM1 million would still do well as there is less competition in that price segment. Properties below RM500,000 won’t have a problem as the market is huge.

“What will carry all these projects through is the developer’s branding, location and the quality of the properties.”

Shanker also expects the secondary market to do better because it is not speculative.

He said people buy properties in the secondary market for their own use or for their children.

“When there is no speculation in a sector, there is no adrenaline rush. Of course, the secondary market doesn’t have the look and feel of the primary market, but price-wise it is 40 per cent cheaper than new launches.”

PropertyGuru Malaysia country manager Sheldon Fernandez said unaffordability is still a major issue among many potential buyers who are dissatisfied with prices.

According to the PropertyGuru Market Index, which tracks the asking prices of homes in Malaysia, prices of residential homes on the whole remain stable, with a 0.2 per cent decrease from the second quarter to the third quarter of this year.

On a year-on-year comparison (third quarter of last year to third quarter of this year), asking prices continue to show a drop of 2.3 per cent.

Fernandez said there are many Malaysians who wish to transact within this year.

However, although the current market is in a stable condition and developers are providing incentives, they feel that properties are still overpriced.

Source: NST Online

 

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