iProperty.com Issue 158 (May 2018)

MAY 2018

9 771823 872006

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ISSUE 158 RM8.50/S$8

WELCOME to our new home!

CEO’S FOREWORD

We moved into our brand new state-of-the-art office about a month ago. This move isn’t just about moving from one workspace to a bigger, better one. The move enables us to embrace the new world of work and provide a platform for us to innovate and bring the latest technologies to market with clients.

Editor Roshan Kaur Sandhu Senior Writers Reena Kaur Bhatt Mira Soyza Editorial Coordinator Nur Alia Ahamd Tamezi Senior Graphic Designers Wing Wong Jason Kwong Junior Graphic Designer Rechean Soong CEO REA Group Asia

We have also changed our identity – iProperty Group which is now REA Group Asia and will adopt the Group’s visual identity as our corporate brand identity to reflect us being part of an expanded global network.

Henry Ruiz CEO - Singapore & Malaysia REA Group Asia Haresh Khoobchandani General Manager (Marketing) Wong Siew Lai General Manager (Agent Sales) Leon Kong General Manager (Developer Sales) Sean Liew General Manager (Data Services) Premendran Pathmanathan Group Regional Finance Director - REA Asia Saviour Calleja Production Manager Clement Chiang Head of Marketing & Content, iProperty.com Singapore Leslie Lin

iProperty.com Malaysia Sdn Bhd (600850-K) Suite 11.01, Level 11 Menara IGB Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur, Malaysia Phone: (603) 2264 6888 Fax: (603) 2264 6900 Sales enquiries: my.sales@iproperty.com Editorial matters: editorial@iproperty.com General enquiries: feedback@iproperty.com Subscription: subscription@iproperty.com International Property: global@iproperty.com iProperty.com Malaysia Sdn Bhd (Johor) A-2-7, Pusat Komercial Bayu Tasek Persiaran Southkey 1, Kota Southkey 80150 Johor Bahru, Johor Phone: (607) 300 0013

While REA Group Asia will be our corporate brand, we will continue to leverage on iProperty.com.my as our consumer brand to drive the business in Malaysia. iProperty.com.my is the leading property portal in Malaysia. We continue to see an average of 8 million desktop and mobile web visits over the past 6 months from September 2017 to February 2018. In March 2018, iproperty.com.my recorded its highest ever level of visits on web and app.

Change is evolutionary and will continue to take place as we innovate and bring the latest technologies to market with clients.

These are certainly exciting times for all of us at REA Group Asia and iProperty.com.my. Together, let us change the way Malaysia experiences property.

Sincerely,

iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D -25-3, Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Phone: (604) 645 9899 Fax: (604) 611 1599

Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views.

Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher.

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HARESH KHOOBCHANDANI CEO, Singapore & Malaysia REA Group Asia

Contents 2

CEO’S FOREWORD

8 HAPPENINGS

EVENTS 10 Terreal Malaysia presents a night of glam and style A’la “Shanghai Night” 12 iProperty.com.my welcomed friends and partners to our new home 14 Its official! We’ve moved into our new home

POINTS OF INTEREST 20 What is the difference between a property agent and real estate negotiator?

CONSUMER HACKS 22 5 home makeover apps to help redesign your space 25 5 creative ways to keep Malaysian homes cool without air con

iPROPERTYiQ.COM 28 Kuala Lumpur’s 5 best-selling residential projects

INDUSTRY INSIGHTS 32 Like it or not, PropTech is the future of real estate 36 How big data will change the face of real estate 38 4 reasons you should start saving to buy a property in 2018 40 Court of Appeal: Home buyers rights to be heard in an EOT situation

CELEBRITY PROFILE 45 Colon cancer survivor, Choo Mei Sze: They wouldn’t disperse the loan, I felt so discriminated

POINTS OF INTEREST 48 5 unpopular towns in Klang Valley that are ideal for expats 52 Why logistics should be the next big thing in the industrial market

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Contents

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54 Landed house or high rise?

It depends – I recently ‘upgraded’ to Bangsar & I’m saving money!

57 How to utilize EPF withdrawal money to purchase a house?

CONSUMER HACKS 60 5 low maintenance indoor plants for the busy beavers 62 8 ways to get more Airbnb bookings and maximize your booking 66 6 must-have herbs to grow in your kitchen garden 69 7 unique local furniture stores you need to know about

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RESEARCH DATA 73 Knight Frank – Malaysia commercial real estate investment sentiment survey 2018

INTERNATIONAL SECTION 80 SINGAPORE NEWS 84 INTERNATIONAL BRIEFS

Becoming a landlord could be the best decision you would ever make

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86 SINGAPORE FEATURE

10 Unique HDB buildings in Singapore

CONSUMER HACKS 92 Interior ideas to get more Zen in your life 94 Interior designer myths that almost had you fooled

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HAPPENINGS

Sebana Cove offers lifestyle living at your very doorstep Redefining urban design and

a purpose-built economic region in

core guiding principles in designing

eastern Johor spearheaded by the

Sebana Cove. Greenery and space

Malaysian government.

is prioritized for urbanites who

Actual photo taken in Sebana Cove

Sebana Cove is developed by industry giant, IJM Land, the property arm of IJM Corporation Berhad. Surrounded by pristine natural greenery, Sebana Cove is a 1,200 acre township, where residential and commercial components are cohesively planned alongside an exclusive private marina and golf course.

Petroleum Complex (PIPC), which is

focusing on usability was IJM’s

It is a stone throw’s away from

enjoy a sophisticated metropolitan

tourism hotspots such as Desaru

feel, complete with the perks of a

Coast, allowing Sebana Cove to reap

natural, green environment. It is

the benefits of a large and affluent

creatively conceptualized to house

catchment market, translating to

10 precincts, each with its own

a great potential for growth and

individual themes, emphasizing

investment.

the best of its geographical characteristics.

The Botany precinct is located

Meanwhile, the Fairway Golf Villas comprise double-storey bungalow villas, perched right next to the

adjacent to an 8-acre nature

rolling greens of the golf course.

preserved concept park of Sebana

These completed homes features

Cove. Suria @ The Botany is the first

a wide balcony that opens to

phase of terrace homes in Sebana

panoramic golf view, offering you

Cove, a booming address located

and your family a relaxing lifestyle.

near the Pengerang Integrated

Southville City Interchange is now open The Southville City Interchange into and from the KL-Seremban

and government officials.

Mah Sing’s Group Managing

Expressway (which forms part of the

Director Tan Sri Dato’ Sri Leong

North-South Expressway) is now open

Hoy Kum said “Southville City’s

for public use from 10 am, 11 April

interchange will not only serve

2018. Southville City’s interchange is

the residents of Southville City

located at Exit 212A Southville City

but also the 1.15 million people in

along the KL-Seremban Expressway.

Bangi, Kajang, Cyberjaya, Putrajaya,

With the new interchange now open,

Semenyih, Dengkil and Nilai. The

Southville City will only be 19km to

interchange will cut the distance

Kuala Lumpur.

of Southville City to Kuala Lumpur

The opening of the interchange

to only 19km. In addition, the

was officiated by Director General of

interchange will provide a new access

Malaysia Highway Authority Datuk Ir.

for traffic coming from Dengkil and

Hj. Ismail bin Md. Salleh, accompanied

Putrajaya into the KL-Seremban

by Mah Sing’s Group Managing

Expressway, which will alleviate traffic

Director Tan Sri Dato’ Sri Leong Hoy

congestion at the Bangi interchange

Kum, Mah Sing’s Chief Executive

exit (Exit 212).”

Officer Datuk Ho Hon Sang as well as

The Southville City interchange

Mah Sing’s senior management team

will have a 14-lane toll (8 ingress tolls

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and 6 egress tolls) equipped with 6 Touch & Go lanes, 4 Smart Tag lanes and 4 multiclass lanes. The 6 Touch & Go lanes come with Radio-frequency identification (RFID) systems and all 14 tolls are RFID ready for future utilization. Southville City’s toll operates on a closed toll system and can only be accessed via the KLSeremban Expressway.

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Terreal Malaysia presents a night of glam and style A’la “Shanghai Night” More than a hundred guests experienced a night of ‘Shanghai’ glitter at the Marriott Putrajaya to commemorate a great year in 2017 and to reward top performers.

Terreal Malaysia Sdn Bhd presented

The key highlights of the gala dinner

a sensational gala night themed

included a presentation on Terreal’s

“Terreal Shanghai Night” on 9 March

New Special offers and an awards

2018 to appreciate the company’s

ceremony for top performers. The

stockists and distributors. Held at the

guests were entertained with thematic

Marriott Hotel in Putrajaya, the annual

music and special performances that

event welcomed 120 guests dressed in

echoed the Shanghai night theme.

colourful costumes, exotic head-gear

During the event, Terreal mentioned

and eye-catching representation of the

that the market is tough in 2017,

night’s theme. The theme was chosen

however, we still stand strong in

to match the venue for the night which

the market and we are constantly

oozed an oriental touch complemented

innovating to deliver new products to

by elegant Chinese-inspired decorative

suit the ever-growing market.

elements.

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EVENT

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1 Family members of Terreal Malaysia.

2 Terreal Shanghai Nite 2018.

3 Terreal Mini Mockup Roof with Romane Evo Natural Tone.

4 Terreal Zen Tiles Series.

5 Attendees during Terreal Shanghai Nite 2018.

6 A-frame racks with Terreal’s Impressionist tiles.

We are not only selling roof tiles, but we also provide a comprehensive envelope roofing system starting from roof tiles to water heater systems as well as reflective insulations and wall claddings. We have a vigilant team of customer service personnel who are ever-ready to provide technical support to our customers.”

During the night, top performers among stockists and distributors were awarded trophies for Gold, Silver Bronze, Platinum and Titanium awards.

Eight lucky draw prizes were presented while the Best Costume Awards for male and female were bagged by two of Terreal’s

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distinguished customers who came in sensational costumes.

The guests were also treated to presentations on special offers delivered by Terreal’s product teams.

The night ended on a high note with guests taking home attractive prizes, trophies and a host of pleasant memories as well as new contacts and

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business relationships.

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iProperty.com.my welcomed friends and partners to our new home Stronger bonds were forged and some new ones were kindled.

The smell of freshly painted walls

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agile working concept we’ve adopted

was still wafting in the air when we

in order to promote a more balanced

opened our doors to our partners and

working environment, teamwork and

friends just a week after the grand

productivity.

opening of our new state-of-the-art

During the event, Haresh

office in The Gardens South Tower. The

Khoobchandani, CEO of Singapore &

event that took place on 5 April 2018

Malaysia, REA Group – Asia, welcomed

saw the attendance of 50 property

our guests to the new home, and

developers and 23 property agencies

shared the company’s vision moving

who have been our ardent allies

forward as part of REA Group-Asia as

throughout the years.

well as our plans in building stronger

They were also taken on a tour around the new office space where they learnt about the concept behind

ties with our partners as well as customers.

Premendran Pathmanathan, General

the design of the new workspace, our

Manager Customer Data Solutions-

latest innovation as well as the new and

Asia, then shared with the guests the

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EVENT

1 Haresh greeting the guests.

2 A guest taking a shot at keychain guessing game.

3 Haresh giving a speech.

4 The guests taken on an office tour.

5 Guests catching up with each other.

6 A guest trying his hands at the VR device guided by Reza Khoshdelniat, Senior Manager, Customer Experience REA Group Asia.

7 A game of foosball before leaving our new office.

8 How many key chains are in the jar?.

9 Sean Liew, GM of Developer Sales presents the prize to Holly, winner of the guessing game. Congratulations Holly!

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Sdn Bhd, Hua Yang Berhad, IGB Corporation Berhad, IOI Properties Group Berhad, LBS Bina Group Berhad, Mah Sing Group Berhad, Matrix Concepts Holdings Berhad, Malaysian Resources Corporation Berhad (MRCB), Naza TTDI Sdn Bhd, OSK Property Holdings Berhad (OSKP), Paramount Property Development Sdn Bhd, REI Group of Companies, Sime Darby Property Berhad, S P Setia

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Berhad, Sunway Integrated Properties Sdn Bhd, Tropicana Corporation Berhad, UEM Sunrise Berhad and UMLand Berhad.

importance of big data and how it will

Other long-time partners who

change the way the world experiences

came to support were property

property. During his presentation, he

agencies such as: CBD Properties,

illustrated the supply and demand in

Chester Properties, Full Homes Realty,

selected areas and how this can be a

Hartamas Real Estate, IQI Realty,

predictor of investment opportunities.

Metroworld Realty, PropNex Realty,

Among the property developers

Rina Properties, Tech Real Estate,

present were: Agile Real Estate

The Roof Realty and Vivahomes

Development (M) Sdn Bhd, Astaka

Realty. Other partners who were

Padu Sdn Bhd, BCB Berhad,

present included: Astro, Ho Chin Soon

Bon Estates Sdn Bhd, Cicet Asia

Research, Kansai Paint, Malaysian

Development Sdn Bhd, Eastern &

Institute of Estate Agents, Robert

Oriental Berhad, Hap Seng Land

Walters and Yeoh Mazlina & Partners.

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It’s official!

We’ve moved into our new home Welcome to iProperty.com.my’s brand-new, state-of-the-art office!

- REENA KAUR BHATT

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Our office in Kuala Lumpur, which

agile work environment. Agile working

proportions as it marks a new

is the Group’s largest office outside of

is a leading-edge way of working that

beginning for iProperty.com.my.

its global headquarters in Melbourne,

brings people, processes, connectivity

Our office move also involves a shift

Australia accommodates up to 250

and technology together. REA Group

in identity – The way we look, identify

employees and is the third in a series

offices are designed to accommodate

ourselves and communicate. iProperty

of state-of-the-art offices opened

activity-based working, with open-

Group, which was acquired by REA

by REA Group across Asia over the

collaboration spaces for team

Group in 2016, will now be known as

last six months, after Hong Kong and

meetings, group learning, focused

REA Group Asia, reflecting being part

Indonesia.

work as well as having the opportunity

6th March 2018 was a day of epic

of the global property portal group that spans across 11 countries.

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The 16,000 square feet workspace in Kuala Lumpur encourages an open and

to socialize in a relaxed setting.

COVER STORY

“The transition into a new, state-of-the-art office isn’t just about moving from one workspace to a bigger, better one. A modern getup enables staff to embrace the new world of work and provide a platform for us to co-innovate with our clients.”

– Haresh Khoobchandani, CEO, Singapore & Malaysia, REA Group Asia –

Agile-based working is not hotdesking, it is based on allocating an

currency of REA Group and this physical space supports that.

area to each team or function, which supports the collaborative way that we want to work and move away from silos. Knowledge, collaboration, connection and creativity are the

Collaboration, creativity & teamwork are at the heart of our business

Let’s take a look at some of the images captured from our new office launch:

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The launch was officiated with a ribbon cutting ceremony by the management team, followed by a lion dance around the office.

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1 Staff walking into their new home for the first time. Check out those smiling faces – There’s no Monday Blues at iProperty.com.my!

2 Pictured top left – Henry Ruiz, CEO, REA Group Asia (second from left) & Haresh (third from left).

3 Another big part of REA Group’s concept is localizing the Kuala Lumpur office with local Malaysian culture – This includes naming their meeting and conference rooms with states of Malaysia. Pictured here is the Perak room, showcasing Ipoh’s famous white coffee and toast bread.

4 The office also features an interactive screen with VR (virtual reality) input in the Cyberjaya Room, which showcases the latest in prop-related technology.

5 Employees get to decorate their personal lockers with a memorable picture of their choosing – we had pics of families, pets and of course, being proud Malaysians, glorious local fare!

6 The main communal area, which is inspired by Borneo’s tropical rainforests is scattered with colourful plush chairs and ottoman casters for open-space meetings and quick breakouts. There’s a table tennis table, a PS4 and 2 massage chairs as well!

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7 They say a picture is worth a thousand words – We can definitely say that we are super stoked to have a fabulous workspace.

8 Some fun games were organised to commemorate the move – staff battled it out “Amazing Raze” style, where they had to solve a series of tasks including creating a fun, celebratory Facebook video. The winning team, pictured topmost left walked home with cash vouchers.

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COVER STORY

iProperty.com.my promises to be bigger & better

South East Asia is the world’s fastest

Speaking at the official office opening

expansion into Asia gives us the

held for the media earlier today, Henry

opportunity to help re-imagine how

Ruiz, CEO, REA Group Asia, said the

people find their next property through

digital company’s investment into Asia

the power of digital devices – like the

is part of its long-term global growth

mobile phone. REA Group’s global

strategy.

experience and network will help

“With a population of over 500

growing property market. REA Group’s

9 Haresh speaking during the press conference.

10 A few lucky ones even got to try out our VR technology.

11 Members of the press being taken on an office tour – they were impressed!

12 Henry explaining more about the Group’s mission to change the way the world experiences property.

deliver best in class digital products

million people and more than a million

and experiences across Asia for all our

property transactions every year,

consumers and customers,” he shared.

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“While total advertising spend is at a similar level to Australia, digital only accounts for between 2 – 12% of total advertising spend in key South East Asian markets like Malaysia. We see tremendous potential for growth over the long term. This investment reiterates our commitment to Malaysia and our confidence in the local market.”

– Henry Ruiz, CEO, REA Group Asia –

Haresh said that as the only property portal in the world with a global presence, the opportunity to access a global audience who are looking for value provides an amazing opportunity for our customers.

“We’re also able to collaborate across the network to introduce new and innovative products, which will help to change the way Malaysians experience property. As part of REA Group Asia, iProperty.com.my will continue to be the number one place where Malaysians start their property journey to find their dream home,” added Haresh.

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A Story Built On Every Moment Video has become the most dynamic and powerful tool for marketing properties.

Make video part of your marketing plan today! +603 6419 5166

iptv@iproperty.com

www.iproperty.tv

ipropertyTV

POINTS OF INTEREST

What is the difference between property agents and real estate negotiators?

Sorry to burst your bubble, but an agent is not the same as a negotiator in Malaysia. No worries, check out our beginner’s guide to get an explanation plus a few helpful tips! - REENA KAUR BHATT

Do you hear that siren’s call

goodbye. Leads will not fall into your

beckoning you to start a career in the

lap just like that, you are going to have

real estate industry? Buying and selling

to hustle, and hustle hard.

properties can be both rewarding and

Are you still with us?

difficult. The high-flyers bring home

Before you jump into this exciting

six-figure salaries, some earn enough

and challenging industry, here are 3

while others only get a few thousand

important things you need to know

per year. Those who are used to a 9

about being a real estate agent and a

to 5 job might want to kiss this dream

negotiator.

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#1 The difference between a real estate agent & a negotiator

#2 Rules you must follow

Real estate agent (REA)

Real estate negotiator (REN)

Before you ask, “Aiya, why do I have

A REA can own and operate his/

A REN is employed by a registered

to get a certification? I can just start

her own real estate agency and can

estate agent. Since they do not

marketing my services on social

employ up to 30 real estate negotiators

manage the business themselves, they

media or word of mouth. Well, please

to assist with the provision of real

are not required to obtain a registration

note that the Malaysian real estate

estate services. These include selling,

under BOVAEAP. However, these

industry is regulated. Both agents

leasing or searching (buying) a

individuals must attain the necessary

and negotiator must be registered

property for clients.

certification before they are allowed to

with the Board of Valuers, Appraisers,

practise. Every REN must attend a full

Estate Agents & Property Managers

2 days course, called the Negotiator’s

(BOVAEAP), the industry’s governing

maximum of 20 RENs. An application

Certification Course, in which they will

board in Malaysia, which is under the

can be made to BOVAEAP to increase

be taught the basics of estate agency

purview of the Finance Ministry.

to a maximum of 30 RENs (subject

as well as the related laws, Acts and

to BOVAEAP’s approval based on

standards pertaining to the industry.

NOTE: Each REA can hire a

previous track record). If the firm has

Upon completing the course, they

A) A REA is only allowed to represent one party in a transaction, either

more than one REA, the REN numbers

will be issued with a certificate of

the buyer or seller. A REA is bound

will then be multiplied accordingly.

attendance, with which they can look

by codes of conduct and strict

and apply for employment with a

laws under the Valuers, Appraisers

registered agency. The employer (firm)

and Estate Agents Act 1981 (Act

required to possess the necessary

will then apply for the REN tag from

242). Any registered REA or firm

academic qualifications and meet

BOVAEAP.

that commits any wrongdoings

Given their seniority, a REA is

will be subjected to BOVAEAP’s

the minimum experience, standards

Once the negotiator has obtained his

and expertise set by BOVAEAP. This

designated tag and issue number (REN

disciplinary action which includes

includes the Real Estate Diploma

XXXXX), only then can he or she start

fines, suspension or deregistration.

Course, a comprehensive set of

representing sellers, landlords, buyers

examinations where there are 12 papers

and tenants.

altogether. Applicants will have to

The Quick Respond (QR) code

obtain a pass for all 6 papers in Part 1

on the REN and REA ID cards can

before being allowed to proceed with

be verified by a customer using

Part 2.

a smartphone. It contains all the

The exams will be followed by a

negotiator’s information including his/

2-year working experience with an

her photograph. Alternatively, the

existing agency as a Probationary

customers can call BOVAEAP during

Estate Agent (PEA) and finally sitting

office hours at 603-2287 6666.

for the oral test of professional competence (TPC). Detailed information pertaining to the procedure involved can be found here.

Once completed, a REA will have his/her name on the Board’s list as a registered estate agent. A REA will also have to apply for a license to set up up his/her own agency. A REA will have to carry a formally issued ID tag. This blue-coloured tag will bear the agent’s and agency names as well as an E number (E XXXX).

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POINTS OF INTEREST

#3 How much commission can I earn?

B) All advertisements in newspapers

A) As per the Seventh Schedule (Rule

B) For lettings or rental properties, the

and property portals posted by

48), the maximum commission fee is

following maximum amounts are

a REN must contain the Firm’s

3% for the sale or purchase of land and

chargeable for tenancies:

E registration number, firm’s

buildings. This figure applies to other

telephone number, firm’s name

services rendered by the firm, such as

and REN numbers besides his/

a joint venture, sale of company and

her mobile number. The public can

property swap. For chattels including

easily cross-check any REA’s or

plant and machinery, a fee of 10% on

REN’s identity through BOVAEAP’s

the proceeds is chargeable.

websites; www.propertyagent.gov. my and www.lppeh.gov.my.

• Up to 3 years: 1.25 months gross rental • >3 years, up to 4 years: 1.5 months gross rental • >4 years, up to 5 years & >5 years: 1.75 months gross rental

However, these subject to a minimum

• >5 years (with an option of renewal):

fee of RM 1,000 per property.

1.75 months gross rental plus 0.25

Meanwhile, the fee for the provision

months rental for every additional

prohibited from placing ads on

of sale and marketing services is to

year

tree trunks and lamp-posts. Illegal

be agreed upon between the estate

brokers who put up ads (without

agent and client.

C) Agents and negotiators are

*Subject to a minimum fee of

REN numbers) and commit any

1-month rental & this scale does

other offence under Section 30(i)

not apply to serviced offices or

of Act242 is liable upon conviction

apartments or any other premises of a

to a fine not exceeding RM300,000

similar nature. For tenancies less than

or imprisonment for a term not

a year, the fee can be calculated using

exceeding 3 years or both.

a pro-rata basis.

Well, there you have it – all the best in kickstarting your real estate agency career!

Also, illegal ads verified

by BOVAEAP will be followed up with a communication to the Malaysia Communication and Multimedia Commission (MCMC) who will then suspend and bar the mobile number.

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5 home makeover apps to help redesign your space Itching to redesign your home? These home makeover apps will help you visualise your interior design wishes before making them a reality.

- KATHLEEN FERNANDEZ

Reinvention – that’s the spice of life.

room, let alone a whole house, can be

Every so often, we might want to

tough. There’s a lot of guesswork and

redecorate a room or move some

visualisation involved and you have to

furniture around to keep your home

be careful not to get tangled up in your

feeling fresh and new. But designing a

measuring tape!

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CONSUMER HACKS

1. Homestyler interior design & decorating ideas

2. Magicplan

out of planning a redesign. Here are

Homestyler allows you to snap a

lets you snap photos of your rooms

some of our top picks of home design

photo of the space you’re planning to

and turn it into a virtual floor plan.

and layout apps:

redecorate and turn that photo as a

The app measures the dimensions of

virtual fitting room for new home decor

your rooms, allowing you to figure out

ideas. You can change wall colours,

what furniture fits best in which area.

add items, move furniture around and

No more wrestling with the measuring

even add light fixtures. You don’t have

tape and converting centimetres to

to leave anything to chance with this

inches. With this app, you’ll have the

app. They even have a catalogue of real

relevant dimensions on hand to make

home decor items that you can try out

furniture shopping a breeze.

Fortunately, there is a plethora of home makeover apps out there in cyberspace that can take a lot of the uncertainty

Similar to the previous app, magicplan

to see if you like it in your home. The app also offers tips, trends and other

Price: Free (iOS & Android)

interior design projects for inspiration.

With over 5 million downloads, you know this app is the real deal.

Price: Free (iOS & Android)

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CONSUMER HACKS

3. Home design 3D Home Design 3D lets you design a 2D and 3D model of your home, from the dividers to the height and thickness of the walls. While this requires just a little more effort, once you have your dimensions locked down, you’ll have full access to thousands of furniture and accessories which you can use to redesign your entire home, room by room. You can view your designs in 3D to give you a semi-realistic experience.

This app is geared towards the professional interior design crowd but the interface is user friendly, so anyone can use it comfortably.

Price: Free (iOS & Android)

4. Planner 5D – Home interior design & decor

5. Houzz home design & shopping

With an easy drag & drop function,

perhaps a slight redecoration or a new

Planner 5D lets you redesign, remodel,

sofa set, Houzz is a great option. They

and renovate your home in an app

have a treasure trove of home decor

before committing to it in real life.

ideas with millions of photos of interior

Using augmented reality technology,

and exterior design ideas to inspire.

the app will scan your home to get

The app also has a Sketch feature

the right dimensions and render a 3D

which allows you to draw out some

space for you to work with. You can

ideas and create a simple floor plan to

customise almost everything, from the

help you visualise your new designs. A

wall colours and texture, to furniture,

major plus with Houzz is that it can also

accessories, flooring and more. The

connect you to professional architects

free version comes with a catalogue

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24

Happy designing!

CONSUMER HACKS

5 Creative ways to keep Malaysian homes cool without air con

Beat the Malaysian hot spells with these simple and natural methods. - RUBAA SHUNMUGANATHAN

At times, the prolonged heatwaves of our tropical country can be rather unforgiving, especially during the dry months. In case you’ve not noticed, Malaysia, particularly Klang Valley, has not been getting enough rain showers in the recent month. In warmer days like this, it’s tempting to crack the air-conditioner unit on full blast in order to cool the house.

Unfortunately, it’s neither a budget-friendly nor an environmental-friendly way to reduce the temperature of your home. We agree that turning on your airconditioner unit is the easiest and fastest method to cool your house but it might result in you racking up your electricity bill. It turns out that there are plenty of other ways to buffer your home from the heat without spending a fortune on your bills.

Here are five natural methods to bring down the temperature of your home.

25

1. Invest in blackout curtains

2. Make a DIY air-conditioner

If your curtains are letting in a lot of

Now, this might sound impossible to

sunlight during the day, chances are

you, but trust us when we say it is a

they are not insulating the interior from

lot easier than you think. Although

heat. The best way to deal with this is

they’re myriad of ways to make DIY

to switch them out for insulated ones

air-conditioners, we will tell you the

or even aluminised blinds that reflect

easiest one which only requires you

the sun’s heat while allowing the breeze

three ingredients. All you need is a

in. However, if you’re one of those

metal bucket or a bowl, a bag of ice

who likes curtains, then we suggest

cubes, and a fan. Put the ice in the

you invest in blackout curtains as they

bucket and place the fan to blow over

block sunlight, naturally insulating the

the ice. Voila!

rooms in which they’re installed. Our tip would be to opt for neutral-coloured curtains with white plastic backings as they can reduce heat gain by up to 33 percent.

26

CONSUMER HACKS

3. Cross ventilation Air naturally moves from a high pressure area to a low pressure area.

This is what creates breeze. Therefore, by opening the windows on both sides of your house, you will create high and low pressure areas on both ends respectively, creating a cross breeze that will draw the heat out.

4. Ditch the incandescent bulbs Incandescent bulbs waste about 90% of their energy in the heat they emit, hence it’s a best to toss them away in order to make a small difference in cooling your home while lowering your electricity bill. Alternatively, you can switch to LEDs as they’re brighter, super energy efficient and produce less

5. Add plants

heat, which makes them a worthwhile

We all know that adding a pot or two

lose water during transpiration and

investment in the long term. During this

of plants around your house can uplift

this cools the air around the plants,

summer days, it’s probably a good idea

the aesthetic of your home. But it’s

leaving it purified and fresh. Certain

for you to look seriously into switching

also worth mentioning that plants can

plants can not only keep the air cool

your home bulbs to LEDs.

keep your house cool because they

but it also helps flush toxins in the air as well. For example, areca palm tree acts as both a decorative house plant as well as a natural humidifier. In addition to cooling off your home, the areca palm can also remove benzene, formaldehyde and trichloroethylene from the air. Plants are definitely a natural and inexpensive way to keep the house temperate down.

27

Kuala Lumpur’s 5 bestselling residential projects Desa Green - 103 transactions (Ó 586% Y-O-Y)

Median PSF: RM695 Median Price: RM525,000 (Ó 1.0% Y-O-Y)

Source: iProperty.com

• Type: Serviced Residence (Freehold) • Address: Jalan Desa Bakti, Off Taman Desa, Taman Desa, 5800 Kuala Lumpur • Completed In: 2016 (UOA Group) • Units: 1,388 units over three 35-storey towers; 578 sq ft - 945 sq ft.

A condominium in Taman Desa recorded the highest transaction volume among other sub-sale homes in KL from September 2016 to August 2017.

• Facilities: Children’s playground, wading pool, gymnasium, leisure pool, main lap pool, multi-purpose hall, open terrace, changing room & Sauna.

SELLING FACTORS 1 This project is in a fairly good

The winners were selected and

location, as it is nestled in between

ranked according to the highest

Petaling Jaya, KL Sentral and Cheras.

number of unit sales recorded within

Mid Valley and KL Sentral are just

the time period. These transactions are

3km and 4km away, respectively.

for secondary properties only and do not include newly launched residential

Taman Desa is serviced easily by James Tan, Associate Director,

multiple expressways and trunk

products. Sales data is captured from

Raine and Horne International shares

roads namely the New Pantai

the Valuation and Property Services

his insights into the 5 projects and

Expressway (E10), East-West Link

Department (JPPH) and compiled

reasons for their popularity among

Expressway (E37), Kuala Lumpur-

by iProperty.com’s big data solution,

homebuyers. Refer to the ‘Selling

Seremban Highway (E37) and

iPropertyiQ.com.

Factors’ section for each winner.

Old Klang Road. There is also the proposed stop in Taman Desa under the MRT 3 (Circle Line).

28

iPROPERTYiQ.COM

OUG Parklane - 78 transactions (Ô 22.0% Y-O-Y) Median PSF: RM418 Median Price: RM398,000 (Ô 5.4% Y-O-Y)

Desa Green is also roughly 5.5 km away from the old Sungai Besi Airport (TUDM Kuala Lumpur) which is set to be the Site for Bandar Malaysia, an urban development project which will house the Kuala Lumpur-Singapore HSR terminus. Source: Google Maps

2 UOA Group is a well-known developer, providing great assurance to purchasers. The facilities provided

Source: iProperty.com

are very attractive too and a conscious effort was taken in adding

• Type: Serviced Residence (Freehold)

so during peak hours. However,

green elements to the development.

• Address: Taman OUG Parklane, Jalan

OUG Parklane is well-connected -

Puchong, 58200 Kuala Lumpur

the Muhibbah LRT station is 1.2km

• Completed In: 2015 (Akisama Group)

away; Jalan Puchong directly links

from local eateries to grocery shops

• Units: 4,225 units over 11 blocks (shop-

to the Shah Alam Expressway

and pharmacies. Faber Towers, the

offices below); 950 sq ft (3-bedroom,

(E5), connecting to the New Pantai

neighbourhood mall was recently

2-bathroom unit)

Expressway (E10) and Middle Ring

3 Taman Desa has abundant amenities,

refurbished in 2017 and now offers a wide range of shopping and dining

• Facilities: Swimming pool, wading pool, children playground, landscape garden

IOI Mall (5.3km) and the Bukit Jalil Recreational Park is roughly 3km

options. Moreover, the upcoming Desa Commercial Center will

SELLING FACTORS

complement the existing Danau

1 With more than 4,000 units spread

Business Centre and Faber Complex.

Road 2 (MRR2). The nearest mall is

across 30 acres, this project is high-

away.

3 The project itself is well-equipped

dense indeed. But for the same reason,

with amenities, the shop-offices

the sheer number of units helps brings

across the 11 blocks are taken up by

are mainly in the 600-700 sq ft

down the property prices, where the

various restaurants, grocery stores,

range, provides for a lower entry

relatively large homes at 950 sq ft are

laundromats, snooker centres and

point, making it affordable for

going from only RM350,000.

24-hours clinics.

4 The size of Desa Green units which

smaller families who want to live in the city centre. The 604 sq ft (1+1

2 This project is located in the Old

bedroom, 1-bathroom) units are

Klang Road locality, offering a central

currently available from RM454,000

location. Traffic is an issue, even more

while the larger 715 sq ft (2-bedroom, 2-bathroom) homes are priced at roughly RM500,000.

29

Bandar Baru Seri Petaling 56 transactions

Garden and Bukit Jalil. Various

Taman Tun Dr Ismail 52 transactions

(Ô 11.1% Y-O-Y)

popular localities throughout Klang

Median PSF: RM559

Valley - Shah Alam Expressway (E5),

Median PSF: RM893

Median Price: RM750,000

New Pantai Expressway (E10), Maju

Median Price: RM1.4 million

(Ó 4.9% Y-O-Y)

Expressway (E20) and Middle Ring

(Ó 7.9% Y-O-Y)

highways provide easy access to

(Ó 13.0% Y-O-Y)

Road 2 (MRR2). Meanwhile, the Sri Petaling LRT station is located nearby the township.

2 Being a mature township, Bandar Baru Seri Petaling has it all restaurants, clinics, various primary First launched in 1977, the 620-acre Bandar Baru Seri Petaling is a self-contained township. Its residential components consist of terraces, semi-Ds, bungalows and apartments. Source: Google Maps

and secondary schools, a wet market, a hotel and even a shopping mall, the AEON Endah parade. The International Medical University and IMU Healthcare are also less than

• Type: Terrace Houses (Freehold)

2km away.

- Comprise of 1-storey, 1.5-storey, 2-storey & 2.5-storey units • Address: Sri Petaling, 57000 Kuala Lumpur

3 There is a wide choice of terrace homes available, catering to different market segments. Prices vary

• Type: Terrace Houses (Freehold) Comprise of 1-storey, 1.5-storey & 2-storey units

• Developer: I&P Group

according to unit size (from 770 sq ft

• Address: TTDI, 60000 Kuala Lumpur

• Status: The township has over 5,900

to >2,000 sq ft), location (Zone D, F,

• Developer: UDA-Seapark Sdn Bhd

homes and an expected population

H, K, L, M, N & P), as well as land area

• Units: Approximately 6,500 housing

of 29,500 people.

and extent of renovation work. Those

units

situated in Zone M, for instance, are SELLING FACTORS

cheaper compared to homes built in

SELLING FACTORS

1 Bandar Baru Seri Petaling or better

Zone H. According to iProperty.com,

1 Nestled in between Mutiara

known as Sri Petaling enjoys a

2-storey units in Zone M are as low as

Damansara, Bandar Utama and Bukit

great location and is fairly close to

RM450,000 whereas 1-storey terrace

Kiara, TTDI is a name associated

the city centre. Situated just 10km

homes in Zon H are in the range of

with affluence. Homes in this hilly

and 13km south of KL Sentral and

RM600,000. Meanwhile, 2-storey

neighbourhood are known to hover

KLCC, respectively this township is

terrace homes in Zone D are closer to

near the RM 1 million mark. Besides

flanked by other residential hotspots

the RM1 million mark.

its prime location, TTDI houses two

including Taman OUG, Happy

huge recreational parks, i.e TTDI public park and Taman Rimba Kiara.

Also, this residential scheme has very wide roads, which are rarely seen in townships throughout the Klang Valley.

2 TTDI offers complete amenities and facilities. In fact, locals from all over the Klang Valley frequent

Source: Google Maps

30

iPROPERTYiQ.COM

Seringin Residence - 47 transactions (Ô 28.8% Y-O-Y) Median PSF: RM566 Median Price: RM1.1 million (Ó 8.1% Y-O-Y)

Taman Tun Dr Ismail’s (TTDI) residential landscape consists of link houses, semi-Ds, bungalows, townhouses and condominiums. Residents also have access to schools, colleges, religious centres, banks and a commercial with its own landscaped park.

TTDI township also provides numerous community facilities to its residents such as schools, colleges, recreational parks, banks, religious amenities and medical institutions. Source: Google Maps

TTDI’s Lorong Rahim Kajai for its rows of local restaurants, pubs, fine

Source: YouTubeMY

dining, cafes, beauty salons and even gyms. Moreover, residents can

• Type: Condominium (Freehold)

court and the adjoining Sustainable

shop for fresh produce at the TTDI

• Address: Jalan Senang Ria, Taman

Application of Green Energy (SAGE)

Wet Market. In terms of healthcare,

Serangkai, 58200 Kuala Lumpur

building, a green recreational centre

KPJ Damansara Specialist Centre is located right next to TTDI in Damansara Utama.

• Developer: See Hoy Chan Group Sdn Bhd • Units: 542 units within two, 24-storey residential towers; 1,707 sq ft - 6,760

3 The new TTDI MRT station further adds appeal to the township. There

housing a function room, a herb garden and an eco-discovery centre with comfortable lounge areas and a library with a study and tuition room.

sq ft • Facilities: 50-metre swimming pool,

2 There are abundant facilities in

were no public transportation links

lifestyle pavilions, floating gym, table

the established neighbourhood of

in TTDi before this. Now, residents

tennis, convenience shop, sauna,

Kuchai Lama - residents can easily

have the option to commute via train

jacuzzi, children’s playground, surau,

drive over to the Kuchai Business

to work, as the Muzium Negara MRT

etc

Park or Kuchai Entrepreneurs Park, located 1.3km and 2km away,

stop is only 4 stations away. From here, commuters can walk over to

SELLING FACTORS

respectively. Here, they can find a

KL Sentral, the transit hub which

1 These luxurious units with huge

wide selection of restaurants and

provides linkages to the LRT, KTM

built-ups offer a unique proposition

local eateries, saloons, mini markets,

and monorail lines. Also, one can

to wealthier urbanites. The developer

cafe, boutiques, clinics, pet shops

easily drop by one of the biggest

has also provided an extensive array

and more. Accessibility wise, Seringin

malls in KV, the neighbouring One

of facilities, some very unique ones

Residences is just minutes away from

Utama Shopping Centre is just one

which are not available at other

the New Pantai Expressway (NPE)

stop away from TTDI (Bandar Utama

higher-end condominiums. These

and Old Klang Road (OKR).

Station).

include a 1km bicycle track, a tennis

DISCLAIMER: The source of Sale data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid while the source of rent data is from agents’ listings on iProperty.com.my. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

31

Like it or not, PropTech is the future of real estate

Malaysia’s real estate industry is undergoing a metamorphosis; technological innovations and changing consumer demographics demand that businesses adapt, or dare we say ‘disrupt’.

- REENA KAUR BHATT & AIDA KAMSURI

We normally relate metamorphosis as a transformation of something into a matured state. From real estate point of view, it refers to the evolution of cities. For example, New York City has evolved from a major seaport in the 18th century into one of the world’s biggest urban areas today.

Along with a rapidly growing world population, the wave of urban growth continues, causing cities to bloat and new metropolitan centres to emerge.

Over the past few decades, the main factors influencing the growth of cities have been widely discussed, but it can be safely said that technology is the main attributor. Advancement in technology leads to new job opportunities, the introduction of supporting infrastructure, better transportation networks and the

how they how they think and behave to

These could be anything from fintech

most importantly their spending habits.

in real estate, crowdfunding, shared

Sr Sulaiman Saheh, Director of

economy and artificial intelligence.

Research of Rahim & Co, speaking

All these innovations and proptech

at the 27th National Real Estate

at large, is seen as a ‘disruption’ as it

Convention organised by Royal

intends to change the way industry

Institute of Surveyors Malaysia (RSIM),

stakeholders including banks, realtors

explained that todaythe consumer

and banks operate, market and

world is undergoing a more dramatic

transact real estate.

transition due to the confluence of fundamental disruptive forces. These forces are changing the face of the business world, and the property market is no exception.

Hence, the emergence of proptech, which is the use of technology to solve challenges in the real estate sector.

creation of new residential boroughs or communities - all which draw people to cities.

And as these cities advance, globalisation grows in tandem too.

Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange.

Free trade, especially via online platforms in the past decade has created an abundance of products and services for consumers. Thus, resulting in a huge paradigm shift in the global and local consumer landscape; from

32

1

1 In 2016, of the world’s 31 megacities - cities with 10 million inhabitants or more; 24 are located in the less developed regions or the “global South”, i.e: Africa, Latin America, and the developing countries in Asia. China alone was home to six megacities in 2016, while India had five, reports United Nations.

INDUSTRY INSIGHTS

First, how did disruption come about?

What really spurred the eureka

Besides globalisation, disruptive

Disruptive innovation is a term

moment for Christensen’s theory in

forces are also influenced by:

coined by Harvard Business School

1995 was the launched of none other

1) Demographics

professor Clayton M. Christensen in

than Windows 95 by Microsoft. It was

1995. It transforms a product that was

the beginning of a revolution that has

existingly expensive and complicated

helped shape the technology world for

that only a selected few with the

the next two decades.

have access to, into a product that

The push factors for disruptive forces

is more affordable and accessible

“The world today is becoming more

to the masses. It is different than a

globalised and becoming one,” Sr

breakthrough innovation where it

Sulaiman said. “More commonly now,

intends to make a great product better.

countries share similar peculiarities with respect to market trends, consumer behaviour and socioeconomic challenges. This can be

serious flashbacks:

least half a million inhabitants.

• In 2016, there were 512 cities with at least 1 million inhabitants globally.

• By 2030, a projected 662 cities will

financial resources and technical skills

These examples might give you some

• 1 in 3 people will live in cities with at

seen through their lifestyle, consumer Disruptor

Disruptee

Personal computers

Mainframe and typewriters

Video streaming

Video rental

entertainment outlets and technology

Cellular phones

Fixed line telephony

drive”.

preferences and communications. For instance, we tend to see more similar choices for multinational F&B giants,

have at least 1 million residents.

Source: The World’s Cities in 2016

by United Nations.

2) A growing middle class (Table 1) • The global middle class count exceeded 3 billion people in 2015 of whom almost half lived in Asia.

• Middle class wages have not grown in many years which led to dropped rates in home ownership.

• By 2030, 60% of the world population are within the middle class group.

Table 1

Source: Hami Kharas (Brookings Institution, 2017)

33

INDUSTRY INSIGHTS

Changing consumer demographics

Some examples of “sharing

The above scenarios have become

Proptech in housing and property

the plight of the middle-class,

In property and construction, we are

economy” includes Grab (ride sharing);

resulting in compressed purchasing

seeing disruptive forces in, how we

Airbnb and Homeaway (travel

power, increased costs of living, high

live, communicate, work, play, and

accommodations) and Wework and

household debts, rising house prices

communicate.

NakedHub (office space). These apps

and housing unaffordability.

The research below perfectly encapsulates the emergence of new

With plethora of real estate apps, the industry adapts to new trends such as: • The ability to access information

are here to stay and their market share keep on increasing.

As advanced as these technologies

generations of consumers:

remotely and instantly. Whether

may be, there are some concerns which

• Gen Y and the upcoming Gen Z

you’re selling, checking listings, you

see the death of retail and office spaces

can search, obtain, and respond to

and personal relationships where

inquiries without having to be in the

there’s potential job loss. Although

office or making a phone call.

there are divided opinions and whether

shows growth of young urbanites • Gen Y and Gen Z are market shapers and fuelled by internet savvy era and proliferation of social media.

The spillover effects into real estate include: • New consumer mix: when two

• Realtors who don’t spend the time

or not we are ready to embrace these

and money having online presence

new forces, we can only agree that a

will be left behind in terms of

forwards mindset and in particular the

attracting prospective buyers.

assimilation of technology in real estate

• Spending time and money for more

is the way to go.

Malaysia is already beginning to

groups need to share living spaces;

(business) visibility on mobile apps

or when one generation is to host the

and social media will create branding

see this happening with MHub’s

other as a member of the household.

opportunity and selling success.

Credit Check, which enables property developers and real estate agents to

• Office, public and residential living Real estate and technology are

run an instantaneous credit check on

demands of both group so it can

inseparable in this digital age. With

buyers where information is sourced

meet the needs of side-by-side

technology advancements, realtors

from Bank Negara’s Central Bureau.

generational workforce

have more options to lure buyers to

Meanwhile, Igloohome’s smart lock for

purchase properties.Blockchain is

commercial and residential properties

of multi-generational homes and dual

another technology that could make

is designed for maximum convenience

key units.

an impact in the real estate market by

and efficiency for owners.

spaces are designed with the

• The emergence of the development

offering real-time data that can help secure financial transactions.

The emergence of “sharing

existing resource, rather digital

economy” has also taken the world by

technology complements or alters the

storm. It is an economic system where

resource’s capabilities. Case in point

assets or services are shared between

is MHub’s Credit Check solution. To

private individuals, either free of charge

disrupt or be disrupted, the answer

or for a fee, typically by means of the

may not be necessarily obvious, but it

internet. Sharing economies allow

is better for businesses and real estate

individuals and groups to make money

stakeholders to prepare themselves.

from underused assets.

34

Take note however, that disruption doesn’t always entirely replace an

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How big data will change the face of real estate

Just like its name, big data is a term that describes the large volume of data – both structured and unstructured – that overloads a business on a day-today basis. But what exactly is the purpose of this large sum of data?

- RUBAA SHUNMUGANATHAN

36

INDUSTRY INSIGHTS

For most of us, the term ‘big data’ is

Where does Malaysia stand?

Importance of big data

something that we are familiar with.

With the presence of big data, it helps

As mentioned earlier, big data is meant

There’s nothing new about it as it

transform the real estate industry as

to be shared with different parties.

has been around since at least 2001.

it increases transparency. But where

Therefore, it is important to know

Having a huge amount of data is not

does Malaysia stand in terms of

what and how much of the data that

important, but it’s what organisations

transparency? According to the Global

should be released for the benefit of

do with the data that matters. By using

Real Estate Transparency Index 2016

the people. As most of the data can

big data, companies can analyse for

by JLL, Malaysia is ranked 28th out of

be found online, it allows different

insights that lead to better decisions

109 countries, with United Kingdom,

parties in the property market to

and strategic business moves.

Australia and Canada taking the first

take advantage of it so that they can

three spots.

get their job done in a more fast and

Sr Haji Nordin Daharom, the Director General of Valuation and Property

This data tells us how the property

efficient manner. For instance, with big

Services Department of the Ministry of

market is perceived in terms to

data, property valuation can be done

Finance Malaysia, recently said at the

accessibility to data. Although Malaysia

without actually visiting the physical

27th National Real Estate Convention

is within the top 30 countries, but we

site of the house. It not only saves time,

that big data is meant to be shared so

still couldn’t beat Singapore who took

but it also gives property valuers more

that fast and informed decision can be

home the 11th place.

time to focus on other aspects of their

made for the benefit of the society.

With a more clear and transparent accessibility, big data that are garnered

job.

In a nutshell, big data combined with

from the public and private data

technology update is the way forward

sources can help potential investors

in the current property market. With it,

make better decisions. In addition to

everyone from the property industry

that, availability of and accessibility

namely developers, valuers and

to accurate, reliable and timely data

investors can make a wise decision that

are important to the operation of the

will not only help themselves or their

property market.

company, but also the general public.

DISCLAIMER: The opinion stated in the article is solely of Sr Haji Nordin Daharom and is not in any form an endorsement or recommendation by iProoprty.com. Readers are encouraged to seek independent advice prior to making an investments.

37

4 reasons you should start saving to buy a property in 2018

There’s no need for forecast from Raja Bomoh – the recent Malaysia economic outlook for 2018 and beyond brings plenty of good news for property investors.

- RUBAA SHUNMUGANATHAN & MIRA SOYZA

If you’ve been following Malaysia’s

growth. The trend saw a positive

of the economic situation here in the

incline from 4.2% to 5.9% that year;

last couple of years. Global recession

top it up with the robust growth we

coupled with two national tragedies

experienced at the beginning of this

and political instability has left our

year, the numbers suggest that we are

economy in a tumultuous state; while

on an upward trajectory for 2018 and

this hasn’t shortened the Starbucks

beyond.

line nationwide, it has considerably

As such, some of the key areas that

reduced the queue for new launches

saw a positive increase are agriculture,

and the grin on the faces of avid

manufacturing and services sectors,

investors.

while the construction sector had

However, a paper titled “Economic

38

country saw a strong and synchronised

news closely, you would be well-aware

a moderate growth. Although the

Outlook for 2018 and Beyond”

growth in the real estate industry is

presented by Professor Yeah Kim

also moderate, many are still seeing

Leng at the 27th National Real Estate

this as a silver lining as the situation

Convention gave us a few reasons to

can improve in the years to come.

smile again this year moving forward.

This means that the property you’ve

According to the Professor of

had your eyes on may not be that

Economics at Sunway University

out of reach for long. So put away

Business School, things started slowly

those ‘teropong buloh’ and coconuts,

looking relatively positive in 2017, as

let’s look at the four key factors that

for the first time in a long period the

indicate it’s time to part with your cash.

INDUSTRY INSIGHTS

1. Cyclical upturn to continue in 2018 Looking at the post global financial crisis, a lot of imbalances and vulnerability have more or less been removed. In fact, the global economy saw a good improvement for the first time after eight to nine years. This suggests an expanding trend in the global market and Malaysia will also see a positive outcome.

Besides that, the country’s GDP growth, supported by improving external demand is expected to grow at the higher end of 5.5% - 6.0% range 2. Inflation to taper off to long term

healthy. As for the property prices and

average

demand, the next few years will see a

that strong financial system can cope

Here’s another good news for all. It

moderately strong GDP growth and

with volatile short term capital flows,

is forecasted that the inflation rate is

full employment, which is causing an

but overcoming long term structural

about to reduce this year. The above

increase in income and an expansion in

challenges such as insufficient high

trend Consumer Price Index (CPI)

working age population.

skills workforce, industrial upgrading

inflation of 3.7% in 2017 is projected

and productivity-led growth will need

to normalise to 1.8% to 2.5% in 2018

but still a positive credit growth

greater policy effectiveness. Therefore,

as subsidy rationalisation and energy

underpinned by strong domestic

this is something that Malaysia needs to

price shocks subside. Some analysts

liquidity and continuing credit flow as

seriously look at.

are saying we are on a sweet spot,

banks remain healthy.

in 2018.

However, it is important to note

On top of that, there will be a slower

which means that we are on a high strong growth with low inflation.

Although the forecast says that inflation will reduce, but the low income household remains vulnerable as this group are at high exposure to debt even though its relative proportion has declined slightly.

3. Mixed real estate outlook As for the property industry, construction activities continue to be driven by civil engineering works particularly in the large infrastructure and industrial projects as well as selective property development.

Besides that, the property market is also continuing to cool off after a rough couple of years.

The speculative demand has evaporated but no major correction is expected as the economy remains

4. Ringgit to strengthen further but still under-valued As for our currency, it has not been the strongest currency in the recent years. But, it is slowly strengthening, and in fact has emerged as one of the top performing currencies. However, the Ringgit still remain as the most undervalued currency in ASEAN. Besides that, foreign funds are also likely to flow back to the local equity market once there is a clear indication regarding this year’s general election.

39

Court of Appeal: Home buyers rights to be heard in an EOT situation “House buyers must be given an opportunity to be heard prior to granting an Extension of Time (EOT) to developers who delay the completion of a housing development project,” rules Malaysia’s Court of Appeal.

On 30th March 2018, a bench of 3 judges consisting of His Lordship Justice Datuk David Wong, His Lordship Justice Datuk Harmindar Singh Dhaliwal and Her Ladyship Justice Datuk Hasnah Datuk Mohammed Hashim, unanimously ruled that the rights of home buyers must be heard before EOT applies.

This landmark decision is the latest development in the 3-year legal battle brought by 104 homebuyers against the Minister of Urban Wellbeing, Housing and Local Government, Controller of Housing and developer, BHL Construction Sdn Bhd over the issuance of an EOT for the Palace Court (Sri Istana) condominium in Jalan Kuchai Lama, Kuala Lumpur. As stated in the Sales & Purchase Agreements (SPA) signed, one of the conditions required the developer to hand over vacant possession within 36 months or be liable to a penalty for late delivery.

40

The new ruling follows the first victory at the High Court on 27th February 2017, where the aggrieved parties were represented by a team of legal eagles from the National House Buyers Association (HBA). Led by Datuk Andy Wong Kok Leong, the 12 lawyers who acted on a pro bono basis also comprised of Albert Soo Kim Yan, Viola De Cruz, Andrew Chan Kah Jun, Koh Kean Kang and a group of backroom researchers.

Source: Chang Kim Loong (pictured fourth from left, front row).

INDUSTRY UPDATE

It was reported that between 2013 until April 2017, 304 EOTs have been issued and are possibly affecting more than 100,000 house buyers. It is indeed shocking that a total number of 304 EOTs have been issued by the Urban Wellbeing, Housing & Local Government Minister and those under his charge. The only word to describe this happening is “OMG” - Chang Kim Loong, Secretary-General of HBA -

This rampant proliferation of EOT’s

developer, BHL Construction Sdn Bhd

have been highlighted and explained

to extend the completion period of the

before in HBA’s previous articles, titled

project from the originally agreed 36

‘Extension of Time: Ruled Irregular by

months stated in the respective SPAs

Court of Law’ and ‘Shocking 304 EOTs

to 48 months.

issued by the Controller of Housing’,

In essence, the EOT takes away

published in the April and July 2017

the house buyers’ entitlement over

issues, respectively.

Liquidated Ascertained Damages (LAD) with a stroke of the pen without

EOT curtailing the rights of house buyers

the knowledge of the house buyers

The Sri Istana issue, now adopted as

unilateral decision of the Ministry and

a test case, challenged the legality of

the house buyers were not notified let

the EOT’s granted by the Ministry of

alone consulted prior to granting of the

Urban Wellbeing, Housing and Local

EOT.

at the time of approval. The EOT is a

Government (Ministry) in favour of the

41

The aggrieved buyers were only notified about this EOT at a later stage after it was approved leaving them helpless. The Ministry seems to have taken away the money due to said buyers for the late delivery of their property (vacant possession of purchased units).

important that the affected buyers be

• In Ketua Pengarah Kastam v Ho

pursuant to regulation 11(3) of the

given an opportunity to be heard prior

Kwan Seng [1977] 2 MLJ 152, Raja

Housing Development (Control &

to any decision being made as it could

Azlan Shah FJ in delivering the

Licensing) Regulations 1989 (HDR)

negatively affect the interest of these

judgment of the Federal Court stated

which is a subsidiary legislation

buyers.

the principle of law on the right to be

The EOT was granted purportedly

enacted by the Minister pursuant to the

Notwithstanding this, the right to be

heard as follows:-

powers granted by the principal act,

heard is an entrenched principle of law

(1)“In particular, the silence of

the Housing Development (Control &

even in the situation where the right to

the statute affords no argument for

Licensing) Act 1965 (HDA).

be heard is not expressly provided in

excluding the rule for the justice of the

the statute of law. There is a plethora

common law will supply the omission

the LAD for the late delivery of houses

of case law from the Apex Court of

of the legislature”.

is 10% of the property’s purchase price

Malaysia, which are in support of this

per annum. Imagine if homebuyers are

principle, such as the one below:

Under the standard terms of an SPA,

not able to claim damages - they will

(2)“In my opinion, the rule of natural justice that no man may be condemned unheard should apply

have to continue paying for a rental

• Majlis Perbandaran Pulau Pinang

to every case where an individual is

accommodation while the house is

v Syed Ahmed MM Gouse Mohamed

adversely affected by an administration

being built on top of servicing their

[2007] 1 CLJ 547, Justice Gopal Sri

action, no matter whether it is

home loans.

Ram in delivering the judgment of the

labeled “judicial” “quasi-judicial” or

Court of Appeal observed that:

“administration” or whether or not the

The right to be heard is a fundamental right

“Although there are no positive words in a statute requiring that the

This recent ruling is important as

party shall be heard, yet the justice

the HDA and HDR are silent on the

of the common law will supply the

buyers’ right to be heard - it is wholly

omission of the legislature”.

42

enabling statute makes provision for a hearing”.

INDUSTRY UPDATE

“The buyers comprise of a group of people which can easily be ascertained, the buyers should at least be notified of the developer’s application (from the onset) for EOT and given a reasonable period of time to state their views before any decision is made.”

- Justice Harmindar Singh –

• Shamsiah Ahmad Sham v Public

In this recent decision of the Court of

What’s Next?

This decision is certainly a breath of

Services Commission Malaysia & Anor

Appeal concerning the EOT, the bench

[1991] 1 CLJ (rep) 419, there was a

rightly observed that right to be heard

fresh air and a welcomed development

breach of the rules of natural justice

is a fundamental right and more so

in this area of law. This decision sets the

i.e. right to be heard due to the failure

the HDA is a piece of social legislation

minimum standard that the Ministry/

to afford an opportunity to explain. It

intended to protect the rights and

Controller of Housing should comply

was held by the Supreme Court (now

interest of house buyers in Malaysia.

when considering the merit of an

As this is not done in the present

Federal Court) as follows:-

application for EOT and sent a strong

case, the Court of Appeal ruled that

message to all the stakeholders that

to us that the first respondent had

the EOT is null and void partly for this

the terms set out in the SPA should not

infringed the rule of natural justice

ground.

be taken lightly and must be guarded

“It was manifestly demonstrated

in not affording the appellant the

Under the standard terms of an SPA,

zealously.

opportunity to explain or controvert

the LAD for the late delivery of houses

Any attempts to unilaterally change

her record of service which played

is 10% of the property’s purchase price

the terms in the SPAs must be carefully

a part in influencing its decision to

per annum. Imagine if homebuyers are

scrutinized. The Minister & Controller

impose the severest punishment

not able to claim damages - they will

of Housing should not change the

permissible under the 1969

have to continue paying for a rental

goal posts after a game of football has

Regulations. On this ground and based

accommodation while the house is

started.

on the authorities we have cited in our

being built on top of servicing their

judgment we have no alternative but to

home loans.

allow this appeal.”

NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur Tel: 603-2142 2225 | 012-334 5676 | Fax: 603-2260 1803 Email: info@hba.org.my | Web Site: www.hba.org.my Striving for House Buyers Rights and Interest

43

Colon cancer survivor, Choo Mei Sze: They wouldn’t disperse the loan, I felt so discriminated

Imagine finding out that you have developed a rare type of cancer that typically doesn’t inflict those in your age group or gender – and you happened to be an anomaly.

That was the fate suffered by the bubbly host, speaker and emcee, Choo Mei Sze. At only 27 years old, she was diagnosed with stage 2 colorectal cancer. With no genetic history, it came quite a shock to her to be diagnosed with a type of cancer that typically inflicts males, age 40 and above.

The devastating news hit her while she was at the height of her career; her presence in the entertainment industry was blooming and she was in the midst of finalising her doctorate thesis in Developmental Psychology at the University of Hawaii at Manoa.

Despite being shaken to core, Choo fought hard and with the help of her now husband and supportive family members she managed to defeat her demon. However, a few years later when the couple attempted to purchase a property under her name, she learned that the battle may just be lifelong.

First Youth Ambassador for National Cancer Society Malaysia shares her struggle with property purchasing and MRTA eligibility post-cancer.

- MIRA SOYZA

44

CELEBRITY PROFILE

The MRTA horror

quickly travelled and became known

Her first property was a residential

to those in the insurance and banking

property – Verve Suites in Mont Kiara –

industry. The loan application was

that she purchased pre-cancer. Choo

approved but before her MRTA

wanted a place that is a potential

could be released, Choo received a

investment and at the same time

devastating news from her husband.

suitable for her to live in. Indeed, she

“He received a call from the banker,

made the right call; within the first two

and he wanted to confirm if I had

years, every time the property was

previously had cancer; and then we

available to be leased, it was snapped

were told that we weren’t getting

up immediately. “Until now I still get

the loan because we don’t qualify for

agents contacting me for the unit. It

MRTA,” she lamented.

garnered a 6-7 % rental yield when I was renting it out then,” shares Choo.

Her nightmare began when she was in the process of purchasing her second

“At that moment, I felt like a burden to my husband since it’s a property for his office.”

While undergoing health check is a

property post-cancer, a commercial

routine procedure, what really further

place to convert into her husband’s

upset Choo was the fact that she was

office. After an extensive research, they

still made to undergo a medical check-

decided on a unit in 1 Mont Kiara. “At

up despite knowing what the outcome

the time, the price was right and we

would be.

wanted a place where there was a mall

“That was the first time I really cried,

for food traffic. Hence, the location

because I knew I wasn’t going to pass

was ideal, but I did not anticipate the

the test. I still went for it of course and

discrimination that was coming my

as predicted I didn’t get the MRTA

way.”

for the property and had to wait for

As someone who lived in the public eyes, the story of her cancer ordeal

2

another three months until the loan was finally dispersed.”

45

The burden of illnesses It is undeniable that to most of us healthy bodied people, it almost never crossed our minds that illnesses of any sort would increase our likelihood of being discriminated and treated differently, especially when it comes to many finance related aspect of our lives. Choo’s experience was only one of many, and knowing that she will be facing this sort of difficulty for the rest of her life is distressing.

She stresses the importance of having a proper procedure in place – at least one that’s more sympathetic of the plight of those inflicted by such experience. “We don’t realise this but people with critical illnesses or viewed as high risk get discriminated.

“I was angry with the way the whole situation was handled. I believe that the bank knew that I was not going to pass the test. I should have been advised that I was not eligible to take up MRTA and have been given the choice to go without instead of making me go through all that. There should be a better policy in place or at least a proper procedure when it comes to notifying applicants of their eligibility.”

46

Choo’s advice on purchasing a property for high-risk buyers: 1. Clarify your situation right off the bat Don’t waste your time waiting for them to run through their procedure. Tell them upfront about your health history and choose to proceed without MRTA instead.

2. Get a third-party insurer Not everything is lost for those ineligible for MRTA. There are plenty of other third party options that are probably a little more expensive but will eventually provide you with the same coverage.

3. Buy it under a company For business owners, you have the option of making the purchase under the name of your company.

5 unpopular towns in Klang Valley that are ideal for expats

Photo by Bruce Mars from Pexels

If you’re an expat looking for a cosy neighbourhood other than Mont Kiara to live, then these places are worth considering. - RUBAA SHUNMUGANATHAN

We know that leaving the comfort

spending most of your time here. From

of your own home country and moving

wondering about crime rates to traffic

abroad can be a daunting task. You

problems, the quality of local hospitals

will need to adjust to a whole load of

and schools, it’s never easy finding the

different things – ranging from food

best neighbourhood to live in. In Klang

and weather to language and lifestyle.

Valley, most expats would opt live in

But nevertheless, it can be one of the

popular places like Bangsar, Mont Kiara

best decisions you make in your life as

and KLCC. While there’s nothing wrong

you will be introduced to a new world

with these towns as they are well-

filled with different culture and people.

equipped with international schools,

If you’ve decided to move to Malaysia,

malls and parks, but they definitely

particularly Klang Valley, we guarantee

come with a hefty price tag and is

you that you’ll be in for an amazing

overly-populated with expats. So, if

ride.

you’re looking for something more

However, finding the right place

unconventional, then we suggest you

to live in is crucial when you move

check out these wonderful areas that

to a new country as you will be

are ideal to move to.

48

POINTS OF INTEREST

Source: ŠGamuda Land

1 Kota Kemuning

Located in Shah Alam, Kota Kemuning

Besides that, this well-established

is probably not the first place you think

residential neighbourhood also has

of when you want to find a house due

HeroMarket, a one-stop grocery store

to its distance to the city centre. But,

that sells both local and international

this neighbourhood is a close-knitted

products to cater to the expat

one equipped with most of the things

community. In addition, most of the

that you would need.

properties in Kota Kemuning are gated

There are a few international schools

and guarded, hence making it perfect

within the vicinity which include

for your family as security is well taken

Cherie Hearts International Preschool

care of.

Kota Kemuning, GlobalinkHouse International Preschool and Beaconhouse Kota Kemuning.

49

Source: © Wikipedia Commons

Source: © Desa ParkCity

2 Kelana Jaya

Unlike Kota Kemuning, Kelana Jaya, a neighbourhood

3 Desa ParkCity

that is part of the Petaling Jaya city, is slightly closer to

is an award-winning master-planned

the city centre and it has all the necessary amenities that

development and is one of the most

an expat would need. Kelana Jaya is a matured area that

sought-after townships in Kuala

is well-connected to different parts of Klang Valley – all

Lumpur with its new urbanist (gated)

thanks to the Kelana Jaya LRT Line and Damansara-

community living concept. With its

Puchong Expressway (LDP) that actually cuts through

own central park, commercial area

this neighbourhood. Apart from that, residents can also

and international school, living in DPC

find Paradigm Mall within their vicinity making the area

is like living in a city of its own. Apart

perfect to raise a family as well as for singles. Although

from that, the neighbourhood is also

Kuala Lumpur City Centre is about 18km away, most

safe and is animal friendly. Hence, it’s

residents would not need to go there frequently as they

a good place to raise your family with

have everything that they need in Kelana Jaya itself. From

both your kids and furkids.

international schools to malls as well as parks, you can find all of it in this neighbourhood.

50

Fondly known as DPC, Desa ParkCity

POINTS OF INTEREST

Source: © Wikipedia Commons

Source: © Wikipedia Commons

4 Seputeh

Just a stone’s throw away from the

5 Setia Alam

famous Mid Valley City, Seputeh is an

centre but is fully-equipped with the best amenities.

established residential district that’s

Located in Shah Alam, this relatively new township is an

been around on the block for quite

integrated development spanning over 4, 000 acres. It

some time now. Apart from its close

is easily accessible to other areas in Klang Valley via New

proximity to the city centre, the area

Klang Valley Expressway (NKVE) and Federal Highway.

is also home to a good balance of

Housing a number of international schools namely Tenby

locals and expats, with many schools,

International & Private School Setia Eco Park, Idrissi

a common public park and places of

International School and Peninsula International School

worship within the area. Some of the

Australia, Setia Alam is no doubt a hotspot for expats

schooling options that are nearby

who fancy living far away from the congested city centre.

Seputeh include SMJK Kuen Cheng,

Besides that, the opening of Setia City Mall also ensures

Vikas International School, Methodist

that the residents don’t have to travel out looking for

College and Brickfields Asia College.

entertainment outlets as the mall has plenty of good

Besides that, the neighbourhood is

restaurants, retail outlets and a cinema.

This is another township that is quite far from the city

also geographically close to KL Sentral, making public transportation a nonissue.

51

Source: Pixabay.com

Why logistics should be the next big thing in the industrial market If we play our cards right, shifting our focus to logistics could get the Malaysian economy running at full steam.

- RUBAA SHUNMUGANATHAN

In the late 70s till mid-80s, Malaysia’s

condominiums, and everyone forgot

economy was doing extremely well.

this blossoming sector. Hence, in

We saw a growth of 12% yearly as

2017, industrial only saw 2% overall

compared to now, where the economy

volume of transactions, compared

is only growing around 4% to 5%.

to residential which had 62% of

According to Siva Shanker, the Head

transactions.

of Investment at Axis REIT Managers

Having a low volume of transactions

Berhad, one of the reasons why our

also means that the competition is low

country was doing so well 40 years

in this industry. Therefore, it makes

ago was because we were opening

more sense for developers to focus

up a lot of opportunities for the

on this market and bring the industry

manufacturing sectors. We were

back and running. There are two main

making things and exporting them.

activities in the industrial market –

In fact, we were the number

manufacturing and logistics. To put

one exporter in the world for air-

it in a simple term, manufacturing is

conditioner. Unfortunately, at some

basically factories that build goods

point we changed our game plan and

whereas logistics is warehouses where

started building more retail complexes,

the goods are being stored.

high-end offices, shopping malls and

52

Source: Pixabay.com

POINTS OF INTEREST

Source: Kaique Rocha from Pexels

Are we in for a bad time?

they can stack up more goods. Apart

Unfortunately, we know that the

from that, they are also using more

commercial and residential industry is

sophisticated racking system, stringent

struggling slightly in the last couple of

safety systems, higher-load bearing

years and it will take a while till it gets

floors, more loading bays and dock

better. Speaking at the 27th National

levellers in order to ensure efficiency in

Real Estate Convention, Siva Shanker

the warehouse.

believes that the industrial foothold is

In order to accommodate such a

quite strong. This is because there is a

demand, there are many logistics hubs

huge demand in the market for it right

in Malaysia namely Shah Alam/Port

now.

Klang, Port of Tanjung Pelepas, Johor Port and the latest KLIA Aeropolis. KL

The changing face of logistics

Aeropolis is a huge piece of land that is

In the recent years, a lot of people are

said to be changed into a logistic hub

looking at getting a bigger space for

in order to take advantage of its close

their warehouses. Shanker opines that

proximity to the airport. If this is build,

previously people were asking for a

then it is no surprise that the logistics

space that’s only 50, 000 to 100, 000

industry will be in high demand once

square feet. But today, they’re asking

again. Currently, the shortage of large

for a much larger space, some reaching

warehousing space is still prevalent

up to one million square feet. Besides

in the market. Therefore, developers

that, customers are also asking for

should tap on this market before it

warehouse with higher eaves height so

becomes too competitive.

53

Landed house or high-rise? It depends - I recently ‘upgraded’ to Bangsar & I’m saving money!

The key is to figure out your priorities first before deciding what and where to buy.

Also, check out our guide on which property type will best fit you.

-REENA KAUR BHATT

the benefits and the cost of a choice

necessary for our long-term prosperity.

than our salaries, it is no wonder why

before making a decision, but very few

When you choose or settle for an

finding the right property to live in

actually follow through in making the

alternative over another ‘utopian’

can be a Herculean task for millennial

most economical choice.

one, you are doing it for the value

With property prices climbing faster

urbanites. Many are uncertain over two

This is because the most economical

it provides - maximum returns at

things:

choice is not always easy or

minimum cost - This is also known as

1) Which areas should I be looking at?

conventional. You will have to get out

opportunity cost.

2) What kind of residential property

of your comfort zone and sometimes

explore the path less travelled by. How

on why I decided against purchasing

many of you are willing to sacrifice a

a car and rely on ride-sharing services

luxury or a want(s) in order to achieve a

such as *UBER and Grab instead, as

personal goal?

this avenue minimises my living costs.

should I consider?

Of opportunity costs & trade-offs Obviously, the decision ultimately

depends on your budget, followed by

Since our unlimited wants can’t all

your specific wants and needs. Every

be satisfied, we have to make choices.

adult knows that one has to dissect

The goods we forgo or sacrifice is

54

In November 2017, I shared my story

*This was prior to UBER ceasing its operations in Malaysia. The author now utilises MyCar instead.

POINTS OF INTEREST

The best part is that I have managed to cut down on my monthly expenses (for rent, utilities and commute to work) by RM200, as shown below:

My calculations showed that a car will cost me RM874 per month – Myvi’s loan instalment (RM574); Petrol (RM200) & Parking (RM81).

Old Place (Titiwangsa)

New Place (Bangsar)

Rent + Utilities

RM950

RM950

Transport Cost

RM400 (RM20 X 20 working days)

RM200 (RM10 X 20 working days)

TOTAL COST

RM 1,350

RM 1,150

Comparatively, taking a GRAB or UBER to and fro work only costs me roughly RM400 monthly (RM20 daily).

It has its downfalls - think surge

Obviously, rent isn’t cheap in the city

So quite a few of my acquaintances

pricing and using public transportation

centre but since a long commute (and

have questioned my decision of

instead during peak hours. But at the

high transportation cost) is a no-no for

settling to live in a ‘dump’. They may

end of the day, these small trade-offs

me, I was ready to trade-off on a few

not get it as my priorities are different

are worth it.

luxuries to achieve my lodging goal. I

from theirs, but I am happy with my

did achieve this as I secured a room in

choice. The benefits I get in return

seek financial stability, hence I require

an old apartment building just 400m

far outweigh the luxuries sacrificed.

maximum savings for:

away from the Bangsar LRT and 5

I will take the extremely convenient

1) Investment purposes - mutual

minutes away from my office!

commute which translates to more

My reasons are pretty elementary - I

Here are the trade-offs:

funds, small-cap funds, etc

2) Down payment on my first property

1) This condo is over 35 years old and

sleep and lower transport costs, any given day.

Also, the convenience of living in

is basically a tower within a

I am a Bangsarian & I’m not breaking the bank

compound which resembles a

such a central location has made it

pound lot.

possible for me to be more sociable

I’ve continued to practise this ‘trade-

2) There are no facilities or any

since most of my dinners or hangout

off’ mentality. Late last year, I had a

sessions are in Bangsar or somewhere

major decision to make - I required a

3) The area is slightly ‘dodgy’ as

new rental unit as my existing lease was

lifestyle component whatsoever. the neighbouring condos are

ending in December 2017. Living near

low-cost flats which are not very

the city centre is a must for me as I

well maintained.

work at Mid Valley and I can’t deal with a long commute as it drains my energy

Comparatively, my old apartment

nearby.

But, I digress!

Key takeaway - Know your priorities & what you are willing to sacrifice As detailed above, my major life

and wastes valuable time, besides

in Titiwangsa had a pool, gymnasium

decisions are wholly dependent on my

discouraging me from maintaining a

and a much more conducive vibe.

personal priorities, all which supports

regular workout schedule.

Nevertheless, my current unit is well-

my financial freedom aspiration.

maintained and security is tight. Also,

Fingers crossed, I will be updating

priority, it has enabled me to be to

there are only 60 units within the

you with news of my first property

a more productive employee and

tower, so I never have to wait long for

purchase in the next year or two.

increase my earning power over the

the lift!

By making a short commute my

past few years.

55

POINTS OF INTEREST

for gated and guarded communities.

This hinges on the density of the community, e.g. the lower the density the higher the cost per home. Other than that all maintenance expenses will be borne by homeowners.

HIGH RISE: Maintenance cost is usually higher since there are facilities and common areas to take into account.

Fortunately, monthly maintenance cost is split among the many homeowners – most high-rise properties are densely populated, with at least 200 units in a development. Nevertheless, purchasers should research more about In that same vein, no two home

Some developers have recently

the property’s management team

buyer is the same. Everyone has

introduced attractive landed products,

capability. Condominiums/apartments

different priorities and obligations.

measuring at least 1,000 sq ft within

rely on good maintenance to keep

It is paramount for you to figure out

the RM400,00 – RM700,00 range,

the building in good condition. If the

yours and determine which choice

check out https://newlaunch.

property management team is subpar

or alternative will provide you with

iproperty.com.my/

and not diligent in collecting service

the highest returns and support your personal well-being at minimum cost.

Here are a few tips for those

There are many good deals in the

charges and carrying out the necessary

sub-sale market too (https://www.

upkeep, the building could depreciate

iproperty.com.my/sale/all-residential

in value quickly.

deliberating between a landed or high-

/?subChannel=subsale). These homes

rise home:

might not be bright and shiny, but they

3. Safety & quality of life

make great starter homes and there is

LANDED: Gated and guarded (G&G)

1. Value for price

nothing a new coat of paint and some

housing neighbourhoods are not

LANDED: Landed properties are

maintenance works won’t fix.

without its supporters. Many see them

usually much more expensive than

as safe havens, especially families.

their high-rise counterparts. Besides

HIGH RISE: Besides its lower entry

These areas which are well designed

a larger space, their added edge

point, high-rise properties are highly

with proper fencing and security

includes having your own privacy and

popular mainly due to the variety of

guards who monitor the movement of

not having to share common areas

facilities provided such as a gym, pool

visitors in and out of the community

with other residents. However, price

and sauna. Also, most of the newer

ensures that crime is kept at bay. So,

tags greatly differ between locations.

properties are part of an integrated

be sure to carry out your own due

Should your priorities be additional

development, offering convenience

diligence beforehand.

space or a conducive environment

and lifestyle components to its

for family living, then do consider

residents. Value-added amenities

HIGH RISE: Safety issues are one of the

alternative cities which offer more

include LRT/MRT/KTM stations,

main concerns for potential property

affordable homes.

colleges and shopping malls. However,

purchasers. Most condominiums and

those planning to start a family will

apartment buildings are equipped

Valley’s connectivity infrastructure,

have to upgrade to bigger quarters

with at least a 3-tier security system,

there are numerous options available

down the road or be willing to spend

including 24/7 CCTVs and mandating

for the savvy homebuyer. For instance,

big bucks for a bigger built-up.

the usage of a residents only access

With recent improvements in Klang

the new Rawang Bypass greatly

card. This assurance besides there

improves Rawang’s traffic congestion

2. Maintenance costs

being only one or at most, two entry/

woes and provides that connectivity

LANDED: The only maintenance cost

exit points scores brownie points with

oomph homebuyers desire.

incurred is security cost, especially

potential purchasers.

DISCLAIMER: The author is not promoting ride-sharing services explicitly. She is merely sharing her personal experience and how her financial decisions are shaped by her goals and aspirations. The views expressed are of her own and is meant as encouragement for other Malaysian millennials. It is not in any form an endorsement or recommendation by iProperty.com.my.

56

POINTS OF INTEREST

How to utilize EPF withdrawal money to purchase a house?

Is your home ownership dream cut short by insufficient funds and steep home loan instalments?

Despair no more as you can now explore the EPF route.

Let us show you how!

Purchasing your first home requires

Here we lay out the step-by-step EPF

a huge financial commitment and

withdrawal process for the purpose of:

is no easy feat for most Malaysians,

A) Purchasing your first or second

especially if you work in the city. An ‘affordable’ mid-range family home

home B) Settling your monthly instalments

costs roughly RM500,000 and calls

for an existing home loan OR paying

for a 10% downpayment of RM50,000!

down an existing home loan to save

Even after this first hurdle is passed,

on interest costs

you still have to worry about servicing - ALLEN PHUA & REENA KAUR BHATT

your subsequent monthly loan

First things first, register for i-Akaun

repayments. Is it any wonder that most

To get the ball rolling, you have to

urban millennials are still living with

register for the i-Akaun facility on the

their parents?

EFP website (https://secure.kwsp.

We have an interesting tidbit for

gov.my/secured/member/login).

those who are in a financial bind -

The fastest way to do this is through

it is possible for both current and

any nearby EPF Kiosk or counter.

aspiring homeowners to dip into their

Alternatively, you may contact the

Employees Provident Fund (EPF)

EPF Contact Management Centre at

savings, in particular [1] Account 2

03-89226000. Once registered, you

to help finance their home-related

will need to activate your account by

expenses.

logging into your i-Akaun as shown below:

Screentshot 1

57

EPF has made it very convenient for home purchasers to apply for withdrawals online rather than doing it manually through the counter. For first time applicants though, you will still need to present yourself at the counter.

Subsequent applications can then be made via the site. Once you’re in, you will be taken to a page where you can select the different withdrawal types from the drop-down list.

A) Withdrawal to purchase (or build) a house You will have to first fork out the 10% down payment yourself, payable to the developer for primary properties or to the property owner if purchasing a sub-sale house. Only then will you be able to secure a home loan from a bank/financial institution such as Maybank, CIMB or AmBank and sign the Sales & Purchase Agreement (SPA).

As soon as your SPA is signed, apply immediately to EPF to redeem the down payment paid.

One can apply to withdraw the difference between the house price stated in the SPA and the housing loan amount (which is typically 90% as most first time homebuyers have to submit a 10% down payment) on top of an additional 10% on the price of the house. For instance, SPA price: RM500,000; Loan Amount (90%): RM450,000

category can only withdraw up to

are encouraged to bring their bank

10% of the property price. So say your

passbook OR a copy of their bank

home costs RM500,000, you will be eligible to withdraw RM50,000 only.

Alternatively, you will have to borrow or pool money from your parents,

CRITERIA

relatives or close friends in order to

1) Age below 55 at time of application.

secure a 90% home loan. You can

2) Have at least RM500 in Account 2.

then pay them back with the monies

3) The property in question has to

withdrawn from your Account 2. It

be for residential purpose only i.e

is wise to accumulate the sufficient

bungalow/terrace/semi-detached/

amount of savings first before making

apartment/ condominium/studio

your move; you wouldn’t want to be

apartment/serviced apartment/

indebted to your loved ones for a long

townhouse / SOHO or a shop lot

time.”

Amount you can withdraw: RM500,000) = RM100,000 Of course, withdrawals are limited to

with a residential unit.

4) Can either be a Malaysian or non-

REQUIRED DOCUMENTS:

Malaysian as long you are an active

• EPF Withdrawal Application Form 9C

member and have been making EPF

(AHL) (D5) • Your Malaysian Identity Card (first

(RM500,000 - RM450,000)+ (10% of

statement.

• Sales & Purchase Agreement (SPA)

contributions.

5) Your home purchase can be either

time only). Thumbprint verification

financed by a home loan granted

will be captured for subsequent

by banks or via an outright cash

applications.

• Bank loan documents (Letter of Loan

purchase.

6) Withdrawal is only valid for one

approval or Loan Facility Agreement)

property (house) at any one time.

certified by your borrowing bank.

Should you wish to apply for a

Inform the bank officer your intention

second home, this is only possible

“WHAT IF I AM UNABLE TO COME

to withdraw from your Account 2 and

once you have disposed of your first

UP WITH THE 10% DOWNPAYMENT

the rest will be done for you. You can

property. You must submit the proof

the savings amount in your Account 2.

IN THE FIRST PLACE? You would want to explore 100% financing schemes offered by a few banks.

To my knowledge, one such bank is MBSB, subject to certain conditions.

However, applicants under this

58

either collect the documents yourself at the branch or have it mailed to

of transfer of ownership.

7) The application must be made

you (usually within 2 weeks). Hence,

within 3 YEARS of signing the SPA.

make sure to collate your documents

If it has been over 3 years since your

a few weeks before.

house purchase, don’t worry. You

• Bank account information. Members

still have the option to apply for

POINTS OF INTEREST

Screentshot 2

withdrawal on a monthly basis to

CRITERIA

Again, the whole process is pretty

reduce your housing loan (discussed

1) Same as above for Criteria 1-5

fast and takes less than 3 weeks to

below).

2) The house in question must be your

complete. An example of the timeline is

first residential property/house.

A plus point: EPF is very efficient in

3) You must be an owner of the

as Screentshot 2 above: An application was made on 19th

processing applications. The whole

property and have an outstanding

March and it was submitted for the

process takes less than 3 weeks from

home loan with a bank.

bank’s verification on home loan

the day of application to the point of the money being deposited into

details. The bank in question approves The next step will be to obtain the

said details within a week on 26th

your account. Once your application

latest loan balance statement from

March. The following day (27th

is approved, you will receive an SMS

your bank and submit it to EPF. Your

March), EPF proceeded to process

requiring you to be present at any EPF

bank will take about 2 weeks to

the application and it was finalized on

counter for thumbprint verification.

process this.

4th April. You will be given a period

Speaking from personal experience, it

You may apply to withdraw all your

of 2 weeks to present yourself at EPF

only took 3-4 days for the money to be

savings in your Account 2 but this will

counter for thumbprint verification.

received!

be paid to on a monthly basis, not

Once that is done, money will be

exceeding the amount of your monthly

disbursed to you within 3-4 days.

“DID YOU KNOW: EPF withdrawals made for home loan purposes are not subjected to tax.”

housing instalment.

For example, say your monthly

Do go through the detailed explanation available on the EPF

repayment is RM1,000 and you have

website to gain a better understanding.

a total of RM10,000 in your Account

Better yet, walk into any EPF office and

B) Withdrawal to help pay instalments

2. RM1,000 will be credited into your

speak directly to the officer on duty

or to reduce housing loan

personal account or directly to your

regarding your withdrawing options.

Let’s say you were not aware of the

borrowing bank each month over 10

We wish you the best of luck!

withdrawal above and you have

months.

already purchased a house over 3 years ago. You can still opt to withdraw your

NOTE: Those who apply for withdrawals

EPF money to assist with paying your

before the 3-year mark of their home

monthly instalments or to pay down

purchase, can request for the EPF

the capital of your home loan to save

money to be paid in a lump sum to help

on interest costs.

pay down their home loan balance.

[1] Each month, the EPF amount contributed by your employer and yourself will be separated into Account 1 and 2, respectively according to the 70:30 ratio. Account 1 is the principal account and can only be fully withdrawn upon death, retirement or leaving the country for good, i.e giving up your Malaysian citizenship. Account 2 a.k.a the Withdrawal Account is the one which you can utilize for housing loan purposes and others including educational, investment and health purposes. *Article was written in collaboration with Allen Phua. The personal experience sharing is courtesy of Allen Phua.

59

5 low maintenance indoor plants for the busy beavers Wondering what indoor plants work best under limited sunlight, water and basically human effort? Check out this list!

- MIRA SOYZA

We get it, caring for another life

However, not all greenery require a

form can be a challenging task for go-

lot of exposure to sun light and daily

getters and jet-setters like us. What’s

watering; there are plants that require

more, as urbanites the majority of us

very little maintenance, attention, and

opt to live in condominiums or service

yet help to beautify your living space.

residences which could make having

Some go as far as help you maintain

beautiful decorative plants that last

a healthy, flawless skin — and if that

and thrive at home impossible unless it

doesn’t get you excited I don’t know

is your intention to have them replaced

what will.

every month or so.

60

CONSUMER HACKS

For those of you seeking stress-free

needs just enough water to thrive

greenery options, here are a few to

so keep the watering to only several

consider:

times a week. The spider plants have been found to be effective in removing

1

1. Pothos

formaldehyde and other toxins such

You can put these tough little guys in

as carbon monoxide. With just a little

a pot or let it hang from the ceiling.

effort you get to breathe clean fresh

It can thrive with close to no sunlight

hair on a daily basis without the need

at all and the lower the light, the less

of an air purifier. As they grow out

variation of colour your plant will have.

and cascade beautifully, they are best

You don’t have to worry about tending

displayed by hanging them off an

to it everyday either, it only requires

awning or beam.

watering once a week, so back off with that watering can, buddy. This plant also demands very little in terms of air

2

3

4. Peace Lily

Curving white blossoms and dark

quality, on the contrary, helps absorb

leaves are only small part of what

toxins from its surroundings. You only

makes this plant extremely attractive.

need to trim it every once in a while to

These pretty babies are also known as

avoid it from overgrowing.

closet plants, for one reason: they enjoy medium to low light and the amount of

2. Aloe

light they receive will determine what

This succulent plant contains medicinal

it looks like. For lovely white spathes

properties that can be used to treat

and flowers, place them under bright

minor burns, cuts, blemishes and cold

light, and if you want them to look

sores. Unlike Pothos, Aloe requires

more like a traditional foliage plant,

natural, indirect sunlight to grow

keep them out of light. It prefers to be

healthily, thus placing it close to the

under-watered, so you don’t have to

window would be most ideal and make

religiously water them. Check to see

sure to rotate it every six months. While

if the soil is dry about once a week to

it does not demand to be watered

know if it needs watering.

daily due to its ability to store water in its roots and leaves, make sure to hydrate it thoroughly every 2-3 weeks

4

5. Snake plant

The award for most tolerant indoor

depending on the weather condition.

plant definitely goes to the snake

Over watering may lead to the plant

plant. Also, known as the mother-

dying—such is the ease that comes

in-law’s tongue’, this plants needs a

with greenery that is not a big fan of

straight forward care: water every

hydration.

two to three weeks and keep under minimal light. Much like the other

5

3. Spider plant

indoor plants, snake plants also help

These babies may not be the

keep the air inside your home clean by

easiest plant in the list in terms of

removing toxins such as formaldehyde

maintenance, but it is definitely the

and benzene. It survives in any room

easiest to propagate. Ideal for the

temperature and if you’re lucky, you

Malaysian climate as they grow best

may catch a flower sprouting from it.

in bright, indirect sunlight, this plant

61

8 ways to get more Airbnb bookings and maximize your profits

Getting your property listed is one thing, but getting tenants to choose your Airbnb over countless other isn’t quite as straightforward as it may seem.

- EMMA RICHARDS

So, you’ve decided to join the Airbnb movement. Perhaps you’re going on

1. Keep your admin game strong

It might sound boring – and it generally

an extended trip and want to rent your

is – but making sure your profile is up

place out while you’re away. Or maybe

to date, you respond to all comments,

you’ve got a second property that’s

and promptly reply to all enquiries, is

just languishing empty and you want

absolutely essential if you want to get

to put it to good use and earn an extra

noticed.

few bucks.

Plus it all adds to the chances of you

While we all know the obvious

becoming an Airbnb Superhost which

no-noes to avoid in your rental – I’m

can be priceless in getting your listing

looking at you dirty kitchen and full

to the top of the pile.

laundry basket – there are also a bunch of useful tips that you can use to make your listing hot property on the homesharing platform.

62

POINTS OF INTEREST

2. Feature one high class design piece Now for the fun stuff. More often than not, places are a clutter of unremarkable, cookie-cutter furnishings that inspire little excitement. This is, of course understandable, especially in a second home. But one striking piece can make your place stand out from the others.

Invest in an eye-catching feature piece, like the mosby lounge chair

Source: airbnb.com

from Urban Edge, to give your place an edge. When set against a white backdrop, a good quality chair with

This city centre studio in Madrid nails

clean lines and in a vibrant colour will

it; minimal clutter, bursts of colour,

make your living room pop.

funky art, and a mirrored wall all make the place look and feel inviting.

4. Emphasize your clean bathroom

It goes without saying that your whole place should be spotless before guests arrive. But it is universally accepted that people especially love a crisp, clean bathroom, like this one in Bali.

After all, no one wants to be reminded of past residents when using the facilities so make sure you give your bathroom a deep clean and get it sparkling.

Place some white fluffy towels in there to give it the five-star vibe, and if you’ve got a tub, flaunt it!

Source: www.urbanedge.com.my

3. Get arty

If you’ve got a fairly plain apartment and not much room (or money) to get a feature piece to jazz it up, some splashes of colour on the wall could be the answer.

You don’t have to invest in a Picasso, but some tasteful prints on the wall or even an artistic rug can liven up a place and they don’t take up any valuable floor space in smaller rooms.

Source: airbnb.com

63

POINTS OF INTEREST

5. Creative camera angles are your best friend This isn’t strictly something you can

do with your property, but certainly a handy trick that can make a difference and it costs you nothing.

The right camera angle can enlarge a space and make it significantly more appealing to anyone trawling through hundreds of similar postings. While a fisheye lens may be taking it a little far, it’s perfectly acceptable to add internet “curb appeal” to your listing by

Source: airbnb.com

employing a wide angle.

6. If you’ve got architectural beauty, flaunt it!

7. Lighting and mirrors

If you happen to own a special gem

sometimes be all about illusion. A

with its own architectural or design

brightly lit room is immediately more

the light back into the room and also

highlights, make sure not to drown

appealing than dark and dingy places,

give the illusion of a bigger space. If

them out with too much clutter.

so make sure you light up your space.

you can, a wall of mirrors makes a place

The paired back furnishing in this

Making your property appealing can

Natural light is undoubtedly the

abundance of natural light and lighting for the double whammy.

Mirrors are also great as they reflect

feel significantly roomier.

100-year-old house in Tokyo (below)

best way to go, but if you’re struggling

shows off the unique architecture and

for that, a few well positioned lamps

exposed wooden beams. Features like

around the place can make all the

this can be priceless for getting people

difference. This cosy place in the

some outdoor space, make sure the

through the door.

Hollywood Hills has the right idea;

prospective renter knows about it!

8. Make your outdoor space a feature If you’re lucky enough to have

Some outdoor furniture or simply a beanbag can transform an otherwise neglected balcony into an extra room and somewhere for tenants to kick back and relax.

While it might not hold much novelty for us here in Southeast Asia, any guest coming of the colder climes of Europe or America would absolutely love the chance to bask in the sunshine on their very own balcony.

Source: airbnb.com

Source: www.urbanedge.com.my

64

6 must-have herbs to grow in your kitchen garden

Not only is herb gardening a therapeutic and fulfilling hobby, but you get to (literally) reap the fruits of your labour too!

Growing your own herbs is as easy as ABC. Forget the mayonnaise, chilli sauce and MSG, spice up your food with some good ol’ herbs instead. Not only are they bursting with flavour and make great condiments or garnishes, their health benefits can also be life-

- AIDA KAMSURI & REENA KAUR BHATT

changing.

Most herbs are pretty easy to grow too, you can either grow them in

“To nurture a garden is to feed not just on the body, but the soul.”

-Alfred Austin-

containers filled with soil or through hydroponics. We have shortlisted 7 herbs for you to check out; it doesn’t matter if you have a backyard or not as they can easily fit on your windowsill or condo balcony.

The best part is they all have one thing in common – they require very little maintenance. No green fingers required!

66

CONSUMER HACKS

4 5

ROSEMARY

CORIANDER

MINT

Known for its strong aromatic flavour,

Coriander is a great plant for newbie

Growing mint either indoors or

rosemary is perfect as a finishing

gardeners. Being a care-free herb, it

outdoors is relatively easy. Just

touch to meat dishes such as grilled

is fast growing and quite possibly the

remember to water them regularly.

lamb, fish and wild game. It also

easiest herb to plant. You might have

With its refreshing, sweet mellow

complements roasted potatoes,

even seen your own mom putting

flavour accentuated with hints of

beans and sauteed mushrooms.

aside the stems of some leftover

lemon, it is no wonder why mint is

This plant is known to very hardy

coriander in a jar filled with water and

used as a garnishing in salads or

and is a “survivor� in all climates.

letting it breathe by the windowsill for

to jazz up hot tea. This plant also

Nevertheless, do remember to keep

a couple of days before transplanting

completes many a Peranakan dish,

your pot in a sunny spot to avoid the

it into a pot filled with soil.

including Assam Laksa, Nasi Ulam and

plant from being infected with white

Every Malaysian child is sure to have

powdery mildew caused by airborne

seen this leaf garnishing their favourite

Moreover, having some ready-to-

fungus.

foods such as porridge, steam fish and

pluck mint leaves within easy reach

curries growing up. Coriander is also a

allows you to show off that host or

believes that when applied externally

staple in salads, either as a garnishing

hostess skills. Mint is the perfect

in the form of an infused oil or salve,

or to make a salad dressing, usually

companion to jazz up popular

will help protect the skin and slow

blended with lime juice, honey,

cocktails. mocktails and even punch,

down tissue ageing.

avocado and balsamic vinegar or

all which surely impress your dinner guests.

The French swears by Rosemary and

Nyonya curries.

Rosemary essential oils are very

olive oil. This yummy and refreshing

popular too, thanks to its bevy of

dressing could even motivate you to

For generations, mint leaves have

benefits including providing relief

eat more greens. Give it a try and say

been prized for its ability in soothing

from indigestion, anxiety, headache,

to hello to a healthier you.

indigestion and motion sickness,

joint pain, cold and flu.

With you growing your own

Besides that, research has proven

among its many other wonders.

that coriander's antifungal and

Now you know why many local food

rosemary, you have the option to

antioxidant properties are wonderful

establishments include mint in their

distil your own essential oil at home.

for treating skin conditions such

appetisers and why balm solutions are

Alternatively, you can utilise extra

as eczema and fungal infections.

usually mint based. It’s time you add a

rosemary by infusing it in a carrier

Similarly, freshly ground coriander

minty element to your home garden!

oil such as safflower and sunflower

leaves mixed with aloe vera is fantastic

oil in a clean glass jar. Let it sit for a

for treating acne or pimples. That's

month or so and voila, you will have

reason enough to grow this plant stat!

a relaxing, therapeutic oil to sprinkle into your bathwater or on your pillow.

67

CONSUMER HACKS

THAI BASIL

DILL

PANDAN

A popular cooking herb, especially

Avid foodies swear by using fresh

Predominantly known as a must-have

in Southeast Asia, Thai Basil is most

herbs instead of dried or powdered

plant in every Malaysian backyard,

commonly used to add a fresh yet

ones and dill is a crowd favourite

this fragrant and aromatic leaf adds a

bold and spicy flavour to soups,

for its strong, distinctive taste with

perfect touch to desserts, especially

curries and Asian salads. This herb

bitter undertones. Usually added to

bubur cha cha and as a flavouring

thrives only in very warm weathers, so

yoghurt sauces, seafood dishes, potato

in local cakes and cookies. Pandan

hurrah to Malaysia’s tropical climate, eh.

salads and soups, this plant which is a

leaves are also used to wrap savoury

member of the parsley family is also

foods, such as chicken or sticky rice

used as a garnishing.

before steaming them.

Unbeknownst to many, Thai basil also boasts anti-bacterial and anti-viral

This sun-loving herb has very long

In South East Asian households, it is

diseases and boost your immune

roots hence, you won’t have to worry

a common sight to see pandan leaves

system. Hence why the old folks

about watering it regularly once the

bundled together in refrigerators

swear by its healing properties and

plant has grown nicely. Nevertheless,

as a deodoriser and natural room

champion Thai basil’s use as a cough

remember to plant in a deep pot as

fragrance, or knotted prettily as a car

and cold remedy. One can whip up a

its long tap roots require quite a bit of

freshener. When steeped in water to

DIY concoction by boiling a handful

room.

make a tea, pandan is also great for

properties that may help fight against

basil leaves in some water over the

Research shows that dill leaf extract

combating stomach cramps, lowering

stove. Strain the remaining liquid and

has anticonvulsant effects, which

sip your basil tea twice or thrice daily

may help treat epilepsy. Dill weed is

to speed up recovery.

a great source of calcium, iron, and

in high humidity. It can grow as high

is antioxidant-rich. Its flavonoids

as 15 feet high when planted outdoors

provide anti-inflammatory and antiviral

in a garden. When planting it in a pot,

properties; some of its benefits include

make sure the pot is deep enough

subduing menstrual cramps, lowering

for sufficient root growth and wide

cholesterol and reducing depression.

enough to support its long leaves.

Now you know what to do the next time you are hit with the sniffles!

68

blood pressure and alleviating fevers.

Being a tropical plant, pandan thrives

CONSUMER HACKS

7 unique local furniture stores you need to know about

4 5

Recrofurniture

© Recrofurniture

Upcycling has never been trendier

Level-up your home interior with a unique statement piece.

and Recrofurniture take reuse and recycle to a whole new level. This boutique furniture store creates reproductions of vintage, retro, mid-century, and industrial style

- KATHLEEN FERNANDEZ

furniture while also providing restoration and reupholstering services. Here, you can fine 60’s

Character. That’s what makes a house feel like a home. Whether it’s a macramé wall hanging or an eccentric coffee table made out of pallets, picking the right furniture can elevate your home and add exclusivity.

Sprinkle some individuality into your abode with the help of these unique local furniture stores:

inspired retro furniture as well as a collection of industrial chic home accents. The furniture are all either made or restored by hand with locally and regionally sourced materials which makes this the perfect place to help you lock down that retro chic which has started to establish itself as timeless style.

Location: 53-53A, Lorong Rahim Kajai 13, TTDI, Kuala Lumpur

69

Bawang Studio

Lasting Impressions

© Bawang Studio

Lain

© Lain

© Lasting Impressions

Founded by a group of local

Positioning themselves as the

designers and builders, Bawang

leaders in Oriental home decor,

Hani Ali, Lain offers a range of

Helmed by local furniture maker,

Studio provides interior design,

Lasting Impressions has an

unique furniture and interior

architecture, and custom furniture

impressive collection of authentic

accents for those who admire

services. The prevailing style of

restored Chinese antiques and

simplicity and practicality. Lain

their interior furniture design

modern Oriental wooden furniture.

creates bespoke furniture that fuses

is a curious blend of classic

The pieces you’ll find here carry

Australian and Malaysian culture

sophistication with a splash of

a weathered look, complete

and styles. Whether it’s a simple

funkiness – accenting wood with

with intricate Chinese art that

side table or an intricate dining

metals and bright colours. Bawang

guarantees an air of class befitting

chair with hand carved details, Lain

Studio pieces can take your home

the Chinese dynasties of old.

is your go-to for minimalist wooden

from traditional Scandinavian

Working with designers across

furniture that will subtly but

minimalism to modern chic with

the country, Lasting Impressions

significantly elevate your home –

minimal effort.

can help you communicate your

their piece are often one-off, which

appreciation for the finer things in

only adds exclusivity.

life.

Location: Flexus Signature Suites, Jalan Kuching

Location: Sunway Damansara, Petaling Jaya

Location: 16, Jalan USJ 1/32, Subang Jaya, 47600 Petaling Jaya, Selangor

70

CONSUMER HACKS

Abumama

Harith Green

© Abumama

For something a little kinder on

Kedai Bikin

© Harith Green

Founded by Harith Ridzuan, a

© Kedai Bikin

With designs coming from

your bank account, Abumama

seasoned woodworker from Kuala

their studio, Kedai Bikin features

offers second hand furniture from

Lumpur, Harith Green embodies

Malaysian-crafted furniture and

sofas to dining tables, wardrobes,

the philosophy of upcycling with

home accessories made by artisans.

media consoles and more.

the aim of reducing dependency on

Kedia Bikin offers a full range of

Abumama refurbishes preloved

timber. Furniture by Harith Green

furniture from chairs to stools,

home and office furniture and

incorporates reclaimed materials

tables, and even candle sticks and

offers them for resale at affordable

to create beautiful layered designs

architectural hardware. Whether

prices. As they say, one man’s trash

and sophistication. They also work

you’re looking for something all-

is another man’s treasure. You’re

with locally-grown bamboo for an

wooden, all-steel, or a combination

bound to find something here that

eco-friendly alternative, perfect for

of the two, Kedai Bikin’s designs

would be the perfect statement

moving towards a more sustainable

are refreshing, elegant, and would

piece for any room.

lifestyle.

easily fit into your personal style.

For a hit of nostalgia, they even offer an updated version of string chairs that were common back in the 80s and early 90s - perfect for lounging outdoor in this Malaysian heat.

Location: Seremban, Cheras, & Kajang

Location: Factory in Ampang – best to contact via email

Location: Ground Floor, 8 Jalan Abdullah, Bangsar

71

KNIGHT FRANK Malaysia Commercial Real Estate Investment Sentiment Survey 2018

72

RESEARCH DATA

Key Players’ View The survey targeted key players

While the overall sentiment for

“The Key Players’ View” supplements

in commercial property, namely,

commercial property remained

the findings of the Malaysia

Developers (56%), Fund / REIT

subdued, it is interesting to note that

Commercial Real Estate Investment

Managers (24%) and Commercial

the players have similar and contrasting

Sentiment Survey 2018, which was

Lenders (20%), to grasp their

views on the different commercial sub-

released in late January.

sentiment in real estate investment.

sectors.

2017 PERFORMANCE

How would you rate the performance of the commercial property sub-sectors (in terms of yield, return / margin) in 2017?

Results:

• All respondents opined that the

Analysis:

• Developers’ dissatisfaction towards

of the sub-sector, which tend to consistently generate reasonable

office, hotel / leisure and logistics

the retail sub-sector may be

returns. This will be even more

/ industrial sub-sectors performed

attributed to the oversupplied

crucial in times where other sub-

fairly in 2017.

market and prevailing challenges

sectors, such as retail and office, are

which have collectively reduced the

facing headwinds.

• Only Developers are not satisfied with the performance of the retail

feasibility of retail developments

sub-sector in 2017.

over the past year.

• Fund / REIT Managers are satisfied

• On the other hand, Fund / REIT

with the performance of the

Managers’ positive view towards the

healthcare / institutional sub-sector

healthcare sector may be justified

in 2017.

by the sustainability and resilience

73

EXPECTED PERFORMANCE FOR 2018

What is your performance expectation of the commercial property sub-sectors (in terms of yield, return/margin) in 2018?

Results:

• Fund / REIT Managers and Lenders

• Lenders, however remain cautious of

expect similar performance in the

the logistics / industrial sub-sector

view towards the office and retail

healthcare / institutional sub-sector

amid the immense hype surrounding

sub-sectors for year 2018.

while Developers expect this sub-

it although the fundamental outlook

• All respondents hold a pessimistic

• Developers and Fund / REIT

sector to perform better in 2018

Managers expect the performance of the hotel / leisure and logistics /

for the sub-sector remains rosy.

• Developers’ positive outlook on the

.Analysis:

healthcare / institutional sub-sector

• Lenders’ positive take on the hotel /

is attributed to dim prospects in

in 2018. Lenders, however expect

leisure sub-sector may be attributed

the office and retail sub-sectors.

the performance of the hotel /

to the resilient tourism industry,

Hence, this inadvertently enhances

leisure sub-sector to improve and

which will have a direct correlation

the prospects for the healthcare /

are less optimistic on the logistics /

towards hotel occupancy level.

institutional sub-sector.

industrial sub-sectors to remain flat

industrial sub-sector.

74

RESEARCH DATA

INVESTMENT ACTIVITY IN 2018

Which sub-sector will your organisation invest in / fund / develop in 2018?

Results:

• Logistics / industrial and healthcare

• Developers’ plan to invest more

/ institutional sub-sectors will

in the hotel / leisure comes at a

sentiment towards the retail sub-

garner more attention from Fund /

time where the tourism sector in

sector, all respondents intend to

REIT Managers and Lenders while

Malaysia remains strong. Hence, this

deploy more capital into the sub-

Developers remain on the sideline.

sub-sector acts a logical avenue for

• Despite unfavourable market

Developers to diversify beyond the

sector as there are still opportunities present. For example, embarking on various asset enhancement

Analysis:

• The retail and office sub-sectors are

weakening office and retail subsectors, which used to be the highly

initiatives (AEIs) will improve the

expected to continue generating

competitiveness of their retail

the most interest despite their

assets.

unfavourable outlook. This is

their exposure towards the hotel

primarily due to the fact that these

/ leisure sub-sector as they prefer

which is also viewed unfavourably,

two sub-sectors will generally have

to invest in the logistics / industrial

is also expected to generate a lot

higher development values.

sub-sector due to higher yields and

• Surprisingly, the office market,

of attention from Developers and

• Fund / REIT Managers’ intention

coveted sub-sectors for Developers.

• Fund / REIT Managers plan to limit

brighter prospects supported by the

Lenders, with the exception of Fund

to limit themselves to the office

rise in e-commerce. Besides that,

/ REIT Managers, who plan to limit

sub-sector is mainly due to the

the retail sub-sector is also better

exposure in this sub-sector.

oversupply situation that will

liked by Fund / REIT Managers

inevitably place downward pressure

although they will be more selective

sector, Lenders plan to retain a

towards rental yields of office

in the future.

similar exposure in 2018, whereas

properties.

• As for the hotel / leisure sub-

Developers are expected to deploy more capital into this sub-sector.

However, Fund / REIT Managers will limit their exposure to this subsector in 2018.

75

FACTORS IMPACTING THE MARKET IN 2018

Do you find the following factors to be FAVOURABLE or UNFAVOURABLE towards the commercial property market in 2018?

Results:

• Logistics / industrial and healthcare

• Developers’ plan to invest more

/ institutional sub-sectors will

in the hotel / leisure comes at a

sentiment towards the retail sub-

garner more attention from Fund /

time where the tourism sector in

sector, all respondents intend to

REIT Managers and Lenders while

Malaysia remains strong. Hence, this

deploy more capital into the sub-

Developers remain on the sideline.

sub-sector acts a logical avenue for

• Despite unfavourable market

Developers to diversify beyond the

sector as there are still opportunities present. For example, embarking on various asset enhancement

Analysis:

• The retail and office sub-sectors are

weakening office and retail subsectors, which used to be the highly

initiatives (AEIs) will improve the

expected to continue generating

competitiveness of their retail

the most interest despite their

assets.

unfavourable outlook. This is

their exposure towards the hotel

primarily due to the fact that these

/ leisure sub-sector as they prefer

which is also viewed unfavourably,

two sub-sectors will generally have

to invest in the logistics / industrial

is also expected to generate a lot

higher development values.

sub-sector due to higher yields and

• Surprisingly, the office market,

of attention from Developers and

• Fund / REIT Managers’ intention

coveted sub-sectors for Developers.

• Fund / REIT Managers plan to limit

brighter prospects supported by the

Lenders, with the exception of Fund

to limit themselves to the office

rise in e-commerce. Besides that,

/ REIT Managers, who plan to limit

sub-sector is mainly due to the

the retail sub-sector is also better

exposure in this sub-sector.

oversupply situation that will

liked by Fund / REIT Managers

inevitably place downward pressure

although they will be more selective

sector, Lenders plan to retain a

towards rental yields of office

in the future.

similar exposure in 2018, whereas

properties.

• As for the hotel / leisure sub-

Developers are expected to deploy more capital into this sub-sector.

However, Fund / REIT Managers will limit their exposure to this subsector in 2018.

76

RESEARCH DATA

Sustained growth momentum for Asia-pacific prime office markets Positive outlook and evolving trends to continue in 2018

In Taipei, with no new Grade-A

The office market in Singapore

in Asia-Pacific helped boost the prime

In 2017, solid economic performance

office supply in Q4, rents increased

showed continued signs of recovery

office sector as more leasing activities

slightly, along with the absorption of

in Q4 2017, with active leasing activity

were recorded in select markets. At

existing stock. However, the vacancy

gathering pace. A stronger performing

the same time, the year has also seen

rate is expected to increase along with

economy did not help Kuala Lumpur

continued growth in demand from

the launch of new office towers, but

office market as it continued to

co-working and technology-related

rents should remain stable. Shanghai’s

struggle with an oversupply of new

spaces. Looking into 2018, according to

Grade-A office rents remained

buildings and subdued leasing

the International Monetary Fund, Asia’s

stable, while the vacancy rates edged

activities. Seoul office market suffered

real GDP is projected to grow by 5.5%,

downward due to increasing demand

a 1.9% decline quarter-on-quarter but

similar to the expected 5.6% growth

from co-working companies for

for the full 2017, the city still posted a

in 2017, which is likely to maintain

Grade-A space. Prime rents in Hong

4.3% increase. Prime vacancy rates in

momentum in the prime office markets.

Kong continued to rise in 2017, with

Tokyo continued to slide for the third

Admiralty and Sheung Wan recording

consecutive quarter, down to 1.6% as at

6.9% prime rental increase in 2017 –

the largest growth among districts

the end of last year.

the highest in all Asia-Pacific markets

on Hong Kong Island, up 11% and 9%

tracked in this index. In the four major

year-on-year respectively. Central’s

impacted in 2017 on account of GST

Australian cities, Brisbane was the

rents are expected to rise between

implementation and slowdown in

only market with rising vacancy rates

2-5% this year with limited supply and

consumer demand. As a result, the

in Q4 2017. Melbourne experienced its

sustained demand. Stock in Pazhou

corporates focused their attention on

firstever quarterly decrease since Q3

and International Finance City in

getting themselves GST compliant

2012, albeit a meagre 0.2%. Rents in

Guangzhou will increase rapidly in

and held back on expansion plans. In

Perth remained stable as vacancy rates

2018, which will push up the vacancy

Bengaluru, the IT/ITeS, e-commerce

had been recovering slowly over the

rates and impose downward pressure

and co-working sectors remained the

past few quarters.

on rents.

important demand drivers in H2 2017.

Year-on-year, Sydney recorded a

Manila’s office sector successfully

Occupiers in Mumbai were

Office project delays in NCR resulted in

rose above market uncertainties in 2017

an all-time low in completions – only 4.1

as the business process outsourcing

million sq ft of new completions hit the

industry continued to drive the

market in 2017, registering a striking

performance of the local office sector.

65% decline from the peak in 2015.

Despite a 3.8% quarteron-quarter increase, prime rents in Jakarta is expected to be tenant-favourable for at least the next 24 months. Amidst strong demand with rising rents and low vacancies, the outlook in Bangkok remained positive. Vacancy rates in Phnom Penh continued to drop as more multinational companies moved in to newly-completed prime office spaces.

77

RESEARCH DATA

78

SG PROPERTY NEWS

International News & Features

79

9 conservation shop houses near Singapore River sold

11 properties sold under the hammer valued at $19.97 million The value of homes sold in the auction has increased 31.2% in the first quarter of 2018 alone. In Q1 of 2017, 8 homes were sold under the hammer for $15.23 million. This year, the numbers rose by 31.2% with the total value of 11 homes sold within Q1 reaching $19.97 million.

Property analysts are seeing this 9 conservation shop houses and a

now include 40 conservation shop

improvement as market resilience.

commercial building near Singapore

houses worth around $500 million

The positive sentiments in the market

River have just been sold to 8M Real

and soon, also a 5-storey freehold

are shown in the strong demand for

Estate. A massive investment for the

commercial building at 23 New

property purchases, both residential

local investment firm who bought

Bridge road.

and commercial. While some buyers

the properties from Lee Brothers

Conservation a big part to play

may have been waiting for policy

in the rejuvenation of Singapore

changes, especially in stamp duty

River precinct. Singapore River One,

rates, many may be tired of waiting and

family of the late Lee Wee Nam, a

a partnership of property owners

are coming back into the fold.

famous Teochew businessman who

and business operators, runs the

set up Four Seas Bank which was

place management of the Singapore

of stamp duty hikes in the last Budget

later sold to OCBC Bank.

River precinct. Efforts to rejuvenate

may have given buyers a strong sign

the Singapore River precinct are

that this policy is not likely to shift

in District 1. These 10 properties

ongoing. And this has, in turn,

anytime soon. Lender sales were the

are grouped in 2 clusters. The first

boosted the leasing activity of shop

most popular among bidders with 8

cluster consisting of 4 shop houses

houses in Boat Quay.

units sold at a total of $13.42 million.

(Wee Kee).

The selling entity is held by the

Massive sale of 2 property clusters

is at the corner of New Bridge Road

8M Real Estate intends to

and Carpenter Street. And the other

refurbish all 10 properties when the

at Boat Quay/Circular Road.

tenants’ leases come up for renewal.

8M Real Estate’s portfolio already

The shop houses on New Bridge

includes a cache of properties in

Road are currently all fully occupied

District 1 and 2. With this most

but their leases will run out by the

recent acquisition, their portfolio will

end of 2018.

80

The Government’s announcement

SG PROPERTY NEWS

Will ageing population affect HDB flat market in 10 years’ time?

The highest price for a residential

Singapore’s ageing population

In 10 years’ time, most young

property sold in auction in Q1 was $2.9

is not a new issue. But as more

couples who have moved out of

million. This was for a residential unit

of Singapore’s older generation

their parental homes would have

at Leighwoods on Mount Sinai Rise in

who are living in HDB flats begin

bought new flats directly from the

prime district 10. The property was put

to release their units in the resale

government. This means they will

up for auction by the owner. Next on

market, will the resale HDB market

be unable to inherit their parents’

the list was a commercial unit in 683

be affected? And if so, how?

flats and will be forced to sell, in turn

Hougang Avenue 8 auctioned off for $2.7 million.

Older generation putting resale

leading to a supply glut. Not just

flats in market as they pass on or

ageing population of humans but

upgrade. Though mortality is not

flats as well. The government will

before 2000 seemed to be attracting

everyone’s favourite topic, it has to

have to start considering the issue

more investor interest as they may

be dealt with, and better earlier than

rather seriously now as a decade

be looking to follow suit in the

later. As ageing HDB owners from

will pass in the blink of an eye. And

collective sale wave. Out of the 11

the baby boomer era pass on, there

it is not only the human population

units successfully auctioned off in Q1,

might be an increase supply of HDB

that is ageing, but also that of the

6 were completed before 2000. One

flats flooding the market.

housing population. Ageing HDB

Older developments completed

of the auctions which attracted the

And as the government pushes

flats to be specific.

most media attention was that of a

out more new BTO flats, young

terrace house in Jalan Batai off Upper

home buyers may be spoilt for

flats with less than 59 years left of

Thomson road, where the skeletal

choice. Hence, resale flat prices may

their lease. Usually flats begin to

remains of a pair of elderly reclusive

be pushed down as supply increases

depreciate once they hit the big 40.

sisters were found in 2016. The house

and demand decreases.

was sold for $2.23 million at auction earlier this year.

Currently, about 20,000 resale

There may be a sudden spike of

The previous occurrence of a supply crunch happened in the

flats exchange hands each year. The

turn of the century, when the

number has remained somewhat

government restricted the building

constant over the past 3 years.

of new BTO flats. This led to many

But some property analysts are

buyers turning to the resale market,

expecting up to 8,000 more resale

hence pushing prices up quickly and

flats to hit the market each year of

rather hastily.

the next decade. This is almost a 40% increase.

81

70% of units at The Tapestry launch sold condominium in Tampines Street

developed by Bellevue Properties, a

86 were sold during its launch last

subsidiary of City Development. Prices

weekend. Buyers snapped up 315 units

of these units start from $596,000 for

at an average price of $1,310 per sq ft.

a one-bedroom unit and $796,000

It is this year’s first suburban

4- and 5-bedders were priced from

mature estate no less. With 861 units

$1.15 million, $1.65 million and $2 million

over seven 15-storey blocks, The

respectively.

Tapestry is considered a premium

The response to a new condominium launch in Tampines was more than

for two-bedroom apartments. The 3-,

condominium launch and in a popular

Unit sizes range from 441 sq ft for a

suburban development with over 50

one-bedroom unit to 1,765 sq ft for the

facilities, including a 24-hour gym,

largest 5-bedroom dual key unit with

100m infinity pool, and a childcare

study room. Most of the buyers were

centre.

Singaporeans, approximately 76%,

It also features smart home

while the rest of the 24% were made up

promising, re-energizing the local real

attributes such as a smart voice

of permanent residents and foreigners

estate market considerably. 70% of the

assistant that enables voice-control

from China, India, Indonesia, Hong

450 units launched at The Tapestry

of home devices. The property is

Kong and Malaysia.

Future Bidadari town shaping up well New HDB flats, an underground

community club and a 2,200 sq

93 hectares, the Bidadari state

air-conditioned bus interchange,

m neighbourhood police centre.

is part of Toa Payoh town. 3 new

a neighbourhood police centre,

Drawing from their Japanese

roads have just partially opened

a community club and a new

background, Kajima Development

in January this year to service the

residential-cum-retail development.

says that Japanese design concepts

upcoming developments in the area.

Last year, a joint venture between

82

will be included in the residential

The roads are Bidadari Park Drive,

Singapore Press Holdings (SPH)

component of The Woodleigh

Alkaff Crescent and Woodleigh Link.

and Japanese developer Kajima

Residences.

Residents of this new estate will

Development successfully bid for

There are visions of Bidadari

also be able to enjoy the views and

a commercial and residential site

being the “next Bishan” as they

greenery provided by the Bidadari

under the Government Land Sales

both have similar histories with

Park, Alkaff Lake and Bidadari

programme in the new Bidadari

their former-cemetery status. The

Heritage Walk. New HDB flats in the

estate. This development will

popularity and rise of Bishan is a

estate have sold exceedingly well.

include not only residential and

positive template for what Bidadari

The township is well on its way to

retail units, but also a 6,000 sq m

can potentially become. Spanning

become “a community in a garden”.

SG PROPERTY NEWS

Singles attain more success at securing new BTO flats

Singles have been able to apply

HDB ramping up the supply of

for new HDB flats directly from the

2-room flats for elderly and singles.

housing board since July 2013. 4 years

As Singapore’s social fabric stretches

down the road, have their housing

out, the housing board is realising that

needs been sufficiently met?

more than just young couples and

HDB making progress in fulfilling

extended families require help with

singles’ housing needs. High queue

housing. Especially as property prices

numbers were not uncommon when

rise at an increasing pace.

the new singles scheme commenced

For the moment, they are supplying

in 2013. Many singles balloted time

about 4,000 new 2-room units per

and again for a 2-room build-to-order

year. 12,000 singles have since booked

(BTO) flat but failed.

new homes with HDB. They are also

The rate of success has however

eligible for the Additional Central

been raised, as more than 3,300

Provident Fund (CPF) Housing Grant

singles have received keys to their new

which was revised up last year, and also

BTO flat as of end-January 2018.

the Special CPF Housing Grant.

These 2-room flats which singles

HDB will continue to monitor the

are eligible for are in non-mature

demand for these single-eligible

estates. As of 2017, there are 5.9 single

2-room flats and endeavour to meet

applicants vying for 1 unit. When the

the housing needs of singles aged 35

scheme started in 2013, the odds were

and above. Besides these 2-room flats,

much higher with 57.5 applicants trying

singles are also eligible to purchase

to secure 1 unit.

resale HDB flats from the open market.

83

Becoming a landlord could be the best decision you would ever make Top tips for investing in rental properties by City Docklands Limited.

Just ask James Chappell. He’s not only the co-founder of our company – and thus one-half of the reason behind City Docklands’ success, but also comfortably retired at the age of 42 (in fact, he started his retirement at 38).

His secret? Knowing the ins and outs of the London property market, and putting that knowledge to good use.

Lucky for us, Chappell’s not keeping his secrets to himself. At City Docklands Limited, we want to help our buy-to-let (BTL) investors find the same success Chappell did.

It’s always the right time to invest in London

London is not only the UK’s capital city; it’s also the financial capital of Europe.

London is where the multinational companies are, and where every business wants to be. With the jobs

sees growth a few percentage points

created by these businesses, come

higher than the national average.

employees – working professionals and

No matter the external factors that

their families from all over the UK, and

may come into play, whether they are

in fact, all over the world.

economic downturns or Brexit, there

This constant influx of new residents

are advantages that come from being

keep demand and rental prices high,

a capital city that can never be taken

and void periods low. London has

away. The connectivity, infrastructure,

always had a healthy real estate

and sheer choice available in London

market, with home prices seeing a rise

can never be matched by any UK city,

of close to 80% in the last decade. The

no matter how up-and-coming they

city’s housing market almost always

may claim to be.

84

INTERNATIONAL BRIEFS

Finding the right property

purchase price of the property, but

They may all be located within the

also management fees for the building,

boundaries of the same city, but the

as well as maintenance and furnishing

various neighbourhoods of London are

costs.

far from homogeneous. As a buy-to-let

At first glance, bigger properties

investor, the choice of location boils

may seem like a tempting choice,

down to your budget and the type of

as they would give you more overall

tenants you are looking to attract.

monthly rent, but the purchase price

If you have a bigger budget, Canary

difference between a smaller and

Wharf, London’s glittering CBD,

bigger property may not translate into

may be the neighbourhood for you.

proportionate increases in monthly

Here, your targets are likely to be

rent, which means you could be better

high-flying executives and successful

off with a smaller property than a

professionals, as well as corporate

larger one.

tenancies. For the more culturally-

You should also factor in legislative

inclined investor, the call of South Bank

restrictions that may be specific to

would be hard to resist, and your buy-

different property types, such as

to-let property would soon be home to

the energy performance certificate

creative professionals and a younger,

for older homes. Older residences

trendier crowd.

cannot be let unless they meet energy

Kensington, with its proximity to

efficiency requirements. Fixing up old

Hyde Park and many of London’s most

electrical wiring would, of course, add

prominent museums, is the perfect

to costs and decrease yield.

neighbourhood for those looking for a more family-friendly location.

Once you’ve narrowed down your

Whatever your budget and preferences, City Docklands Limited aims to provide the most impartial and

preferred neighbourhood, it’s time

professional advice to help you achieve

to look at specific properties and do

your investment goals. With more than

the maths. Rental yield should be the

400 properties in our portfolio and our

utmost priority for every BTL investor

extensive understanding of the market

and an accurate calculation of yield

in London, we will definitely find you

should take into account not just the

the right property at the right price.

85

10 Unique HDB buildings in Singapore Check out these ‘hidden treasures’ amidst slabs of concrete in the city.

Although a majority of Singaporeans reside in flats, we often fail to take notice

1. Blk 63-66 Yung Kuang Road The group of four diamond-shaped

of the uniquely-designed HDBs in the

blocks of HDB flats along Yung Kuang

midst of our neighbourhoods. Instead

Road in Taman Jurong offers a glimpse

of looking up, we’re busy looking down

into the lives of the city state’s poor. The

at our phones, eyes fixated, fingers

pride and joy of Jurong in the 70s, this

constantly typing or scrolling — while

diamond-shaped cluster of blocks once

walking home on when using public

towered over neighbouring flats at 21

transport.

storeys high.

Hence, missing these gorgeous

To think this beauty was nearly

everyday hidden gems. Instead, we

demolished – we thank our lucky stars

chase down shiny, newfangled (and

that it never happened. Or else we would

mainstream) architecture – from Marina

never have come across photos on

Bay Sands to the Art Science Museum,

Instagram reflecting its clean, sharp lines.

wanting to capture that perfect shot for our Instagram feeds.

Fret not, we’ve got all you hipsters

Once a pinnacle of urban architecture in Western Singapore, the diamondshaped block of flats pales in comparison

covered. Here are some our favourite,

to its newer and cleaner neighbours. It

quirky HDB block designs that you

is now occupied by foreigners and low-

should totally check out.

income Singaporean families under the HDB’s Interim Rental Housing Scheme.

86

SG FEATURE

2. Blk 78 Tiong Bahru

Older HDB flats usually have longer

east or west. The was meant to ensure

Tiong Bahru is well known as the go-to

corridors than the new generation flats,

the flat stays cool throughout the day.

place for weekend brunches. Yet, few

but none can beat Block 34 in Whampoa

have gone beyond the trendy cafes to

West. At about 320 metres long, this

highly sought after by prospective buyers

uncover the hidden gems in Tiong Bahru.

block boasts the longest corridor in

due to its unique design.

Stepping onto Yong Siak Street (just a

Singapore.

stone’s throw away from Tiong Bahru

To put things into perspective, that’s

Cool huh? Today, these flats are still

6. Blk 53 Toa Payoh

MRT Station) will transport you to an

the length of 160 doors linked together

entirely different era. You’ll realise the

horizontally. If we were kids living in this

were built by Singapore’s Housing &

buildings and residences look markedly

block, we’d already be riding our scooters

Development Board – just imagine how

different from those found elsewhere in

from one end to the other!

drastically Singapore’s landscape has

Singapore.

Also, a long block would mean more

Throughout 57 years, over a million flats

changed. But of all the beautiful homes

The horseshoe block stands as the

room for shops on the ground floor. The

in Singapore, this particular block (Toa

only public housing building with an air

residents here have a wide range of food

Payoh’s Block 53) was graced by a Queen

raid shelter built-in. This air raid shelter

options, as tucked under the block is a

— we kid you not.

is also the last remaining pre-war civilian

slew of eateries, from cafes to Zi Char

Its unmistakable shape won it the

shelter that still exists today. In case you’re

restaurants, and of course, the famous

nickname “Y-Shaped Block” amongst

wondering – yes, it was used in WWII

chicken rice restaurant, Boon Tong Kee.

residents. Perched on the roof of one of

during the Japanese air raids.

Singapore’s first HDB flats, is a viewing 5. Blk 259 Ang Mo Kio

gallery. The gallery was originally

3. Selegie House

created with the intention of giving

Selegie House is a building complex that

foreign dignitaries a sweeping view of

consists of one block of 20-storey flats

Singapore’s public housing programme.

and two blocks of 10-storey flats. These

7. Blk 661 – 663 Buffalo Road

blocks used to be linked by four rows of 2-storey blocks which had since been

As part of HDB’s lift upgrading

demolished and replaced with linkways.

programme, the cluster of blocks near

At the time of its completion in 1963,

Tekka Food Centre was selected for pilot

the 60m tall 20-storey block was the

testing the installation of bubble lifts in

tallest mixed development building in

public housing. Bubble lifts were once

Singapore comprising both residential

Block 259 is Singapore’s only unique

only found in shopping malls and hotels,

units and commercial shops. The

block of circular flats and is a distinctive

and now that’s no longer the case.

complex’s completion represented HDB’s

landmark in Ang Mo Kio. Overlooking

first foray into the construction of high-

Bishan Park and Pierce Reservoir, the

out the window to a flurry of human

rise housing to accommodate a large

block was designed by HDB and is

activity down below. That can be quite

number of residents in modern housing

located along Ang Mo Kio Avenue 2.

therapeutic for residents returning home

conditions during the post-war period.

4. Blk 34 Whampoa West

It was completed in 1981, intended to

As the lift ascends, you can gaze

from a long day’s work. And certainly a

build seven distinctive blocks to foster

blessing for those who are claustrophobic

a sense of identity in each town and to

– especially if the lift breaks down.

establish a unique form of architecture.

The point block consists of 96 five-room flats, with four units per floor.

The design is unique in a sense that it is constructed using solid bricks instead of the usual hollow bricks, and the bedrooms face either North or South, while the living rooms and kitchens face

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SG FEATURE

8. Blk 441A and 441B Clementi

The name Kampong Silat essentially

When hunger pangs hit at midnight, you

refers to a village (Kampong) by the

can just grab some cup noodles from

sea (silat) as prior to land reclamation,

the supermarket downstairs. Should one

you could look out at the sea from the

oversleep, making it to work on time is still

road. The name Kampong came about

possible with the convenience of the MRT

as the estate was built to house many

station at their doorstep.

families who moved from the Kampongs

And when the weather is unbearably

of the same name. Consisting of 15

hot during the haze season, you can save

flats originally, these simple yet elegant

on electric bills by cooling off in the air-

buildings were well considered in their

conditioned mall downstairs, instead of

proportions and visual balance gave the

turning on the ones at home throughout

undulating terrain. As of 6 June 2014,

the day.

the five remaining flats of blocks 18-23

That’s the kind of convenience that the residents here live with, being the first

have been gazetted under the URA Masterplan.

HDB homeowners to enjoy the luxury of having the MRT just a stone’s throw away, and The Clementi Mall right at their

10. HDB Terrace Flats

Double storeys, front porches and a

doorstep. We sure hope there are plans

sloped roof; all features of a typical

for more of such flats to be constructed

terrace home, except that these

– and you definitely have to call dibs on a

actually have HDB block numbers on

unit if that ever happens.

them! Developed by SIT (Singapore Improvement Trust, a predecessor of HDB), these landed-looking spaces were constructed around the Queenstown, Whampoa and Jalan Bahagia areas in the 1960s.

Perhaps realising that it wouldn’t be feasible with Singapore’s limited land constraints, HDB hasn’t been building anymore of these since. So, snagging one is pretty much hitting the jackpot –

9. Kampong Silat Estate

besides a limited supply, a HDB terrace

Nestled along Silat Avenue sits the five

is significantly cheaper than similar

remaining four-storey blocks of the

landed properties of the same size. Think

former Kampong Silat Estate. Vacated

anywhere between $600,000 to slightly

since 2012 as part of the SRS project,

less than a million.

its inconspicuous appearance hides an interesting architectural and social history.

Pretty much a steal eh? We think so too!

Built between 1948-1952, these flats are

Now that you’ve been let in on these

the second oldest public housing estate

unique HDBs, it’s time to take a mini road

after the more illustrious area that is

trip around Singapore and uncover these

Kampong Bahru (1936-1954).

hidden gems for yourselves!

88

Interior ideas to get more Zen in your life Craving a sense of calm in your home? Here are four tips to create a harmonious space.

Calming colours

palette makes the connection to

This year we’ll see nature continue to

the surrounding natural landscape

and the hustle and bustle becomes

influence our interior design palette.

and evokes the feeling of calm and

often all-consuming, our home

Navy blue and pastels will become less

tranquility.

interiors in 2017 can offer a respite

popular and in their place we’ll see the

from the craziness.

return of dark green.

As our lives become even more saturated with media and technology

From nature-inspired artworks to

Green is a versatile addition to an

textured, earthy materials, let these

interior scheme as it can be elegantly

ideas inspire a sense of calm in your

balanced against brass, tan leathers,

home design this year.

natural timbers and stones.

Designers tend to aim for timeless

Natural stone is a popular choice in kitchens, bathrooms and furniture pieces and there are some stunning green stones currently available.

The organic nature of the grain connects to the fluidity of fabrics we are now seeing, as opposed to the

interior design that uses a language of

trends of geometric patterning over

natural materials and monochromatic

the past few years.

hues. The injection of green into this

A green couch set against natural timber works well. Picture: Getty Images

92

CONSUMER HACKS

Light up your life

Light is the perfect tool to easily control the mood of a space. A variety of light sources will help you set the scene and allow you to make a space multi-functional.

Through a combination of overhead lighting, recessed strip lighting, wall lights and loose lamp light you can instantly manipulate the mood by either creating drama or evoking calm, similar to what hotels do so well.

A green couch set against natural timber works well. Picture: Getty Images

Chilled-out art

Still-life landscapes bring the tranquility of the outside in and provide an escape from our busy lives.

Melbourne photographer Kate Ballis has a beautiful series of prints in her Velvet Iceland series – the depth of field Kate has captured in her pieces draws you into the landscape and provides the perfect sense of escapism.

Light can help accentuate textured materials like the natural stone in this bathroom.

Picture: Getty Images

Kate’s partner Tom Blachford also has a series of Palm Spring prints titled Midnight Modern. This series plays with

Materials to create Zen

After a period of hiatus, dark timbers

light and shadow in capturing classic

and controlled terracotta tones are

mid-century architecture among the

making a comeback while moody

lush Palm Spring landscape.

timbers and earthy materials will replace the Scandinavian trend of light oak and carrara marble.

Natural stone is still popular, but in 2017 we’ll see a move towards darker stones like onyx, textured black granite and forest green marbles, providing a sense of drama and opulence.

A naturally textured material is instantly appealing due to its warmth and tactility.

By using a carefully considered combination of natural and artificial light you can highlight the threedimensional aspect of a natural stone

A variety of lighting creates calm in this Scandi-style living room.

Picture: Getty Images

slab and create a sense of calm in a home environment.

This article was originally published as Interior ideas to get more Zen in your life by realestate.com.au and is written by Michael Drescher.

93

Interior designer myths that almost had you fooled Plagued by stereotypes and misconceptions, interior designers don’t have it easy. From being stuck up, exorbitant, and unnecessary, they’ve heard it all.

We help debunk these myths and tell you exactly what interior designers can do for your space.

1. Not just Interior Decorators

Many often think an interior designer’s job is just to decorate a space to make it aesthetically pleasing. Wrong. Interior decorators are those who do the job of style consultants and make your bare home pleasing to the eye while interior designers give your space life.

Often trained with architectural knowledge and fundamental information on construction and style, designers are the ones who help turn your dream home into reality. Interior designers can help increase the market rate of your home as the aesthetics of a space will help bring traffic to your property, if and when you’re looking to

Source: Artsgrensboro.org

sell. Their knowledge helps them have solid ideas of space and purpose while

PS: You probably bought your home or unit based on

keeping to trends and pleasing visuals.

a show house designed by an interior designer.

94

CONSUMER HACKS

2. Contractors can do what interior designers do

4. Their way or the highway

Contractors and interior designers

Interior Designers are stereotyped as

don’t have the same job scope.

style sticklers. Although some of them

Contractors build or remodel the

might be, many are driven to help you

physical aspects of your space based

create your own dream space. Atap.

on the design and advice provided by

co helps you decide on which designer

interior designers.

best fits your personal preferences

Afraid you will lose your personal style?

The latter provides plans and

as you can view an array of portfolios

designs that have been specifically

and design ideas before making your

curated to the lifestyle, functionality

decision. The site also allows you to

and budget of the property. It’s always

pick your budget and request for

best to keep these two jobs separate,

free quotes from preferred interior

allocating better focus to design and

designers, simplifying the process

construction.

while staying true to your aesthetic!

3. It’s too expensive

5. DIY is doable

Source: Artsgrensboro.org

False! While hiring interior designers

If you’re creative and have an eye for

is an added cost, you save money in

design, there’s no harm in pitching

the long run. Avoid design mistakes,

your ideas and trying to materialise

unnecessary costly materials, and

them but many things can go wrong.

wasted time.

Things like installing your own tiles

The interior designer acts as a

and windows can be tricky and time

project manager that tunes the finer

consuming. If done wrong, they could

details, making sure your home

be hazardous; imagine chipped tiles

is impeccably built while sticking

and faulty windows.

to your budget. IDs work closely

Vendors and distributors often offer

with contractors to make sure the

cheaper rates to interior designers who

renovation goes smoothly, that

are repeat customers, so IDs can save

timelines are met, and that vendors

you so much hassle and money! We

(e.g. tile providers) deliver the

suggest you treat your new project as

necessary materials that fulfil quality

a collaboration instead of a one man

standards.

show.

This article was originally published as Interior designer myths that almost had you fooled by atap.co and is written by Lydia Lohshini.

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