03 APRIL 2019 WEDNESDAY
The Peak@JBCC offers an ideal blend of nature, tranquillity and convenience in the heart of JB. See page 4
Datuk Azizan Jaafar Group Chief Executive Officer Gabungan AQRS Bhd
INSIDE THIS ISSUE
SPECIAL FEATURE
SPECIAL FEATURE
EXPERT SHARING
EMPOWERING OUR ARCHITECTS P 03
HOUSING THE NATION IN 2019 P 06
HOME OWNERSHIP FOR ALL P 07
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TO OWN OR NOT TO OWN (A HOME)?
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The key here is resource that was accumulated OR the longest time, people have been debating with little effort on the part of the owner, save for whether a home is an asset or a liability. Depending By the monthly repayment. And with access to resource on which side of the divide you choose to stand ERNEST TOWLE comes access to options when the opportunity or need on and through which set of eyes you view the arises. argument, home ownership can be seen as either boon Renting, however, will not offer such an option because or bane! the renter is locked out of building wealth through home equity. Maslow’s theory of hierarchical needs places physiological Having said that, the renter will have more disposable income to and safety needs as the two most basic for humans. Without these invest in other avenues, enjoy more mobility and not have to deal two needs being met, it would be impossible for us to survive. with real estate problems or potential tenants from hell. Aside from food and nourishment, the ability to stay in a safe and So, there are many pros and cons for both home ownership and secure environment ranks equally high. Nevertheless, ownership of lifetime renting. Home ownership may not be everyone’s cup of tea the dwelling is not a necessity. but there will come a time when active income dwindles either by Thus you may ask why we should own when we can rent. Would choice or circumstance. home ownership offer any benefit over renting a property? The At that juncture, having a mortgage-free home will be most adanswer is... it depends. vantageous. Knowing that you have a roof over your head along with Historically, it has been shown that real estate for the most part the option of converting it to cash for whatever reason is of great appreciates in value over time. This value appreciation, though only comfort. And having more than one roof will help generate passive accessible once the property is refinanced or sold, represents locked income through good times and bad. resource that the owner can then use.
STARPROPERTY.MY EVENT HIGHLIGHTS Enjoy the Best@Old Klang Road In this edition of the Best@ series, StarProperty.my highlights the charms of Old Klang Road, the first major road in the Klang Valley connecting the nation’s capital of Kuala Lumpur to Klang, the former capital of Selangor. Old Klang Road has progressed from a sleepy stretch of road to one of the most sought-after locations in the valley, with many new developments mushrooming along both sides of the road. This illustrious area is so much more than the sum of its concrete structures; it is given life by the people who live and work there, by its famed restaurants, and by the manicured landscapes that adorn the roadside. Get your e-copy at https://best.starproperty.my/old-klang-road/
Jom Beli & Menang contest
StarProperty.my TaxTalk 2019
StarProperty.my brings a contest that will reward you with great prizes. You could be the one driving your family to your new home in a new car. When you purchase your property at one of our fairs (happening at the Starling Mall and various other shopping centres between February and November 2019), sign an SPA and join the contest. All you really have to do is visit our fairs (keep tabs on our Facebook page for announcements), pre-register for the “Beli & Menang” contest, submit a booking for one of the showcased properties offered by participating developers, answer a question, submit a slogan, and provide us with proof of purchase in the form of a Sale and Purchase Agreement (the SPA or S&P) – and you could be the lucky winner of the grand prize!
In the upcoming StarProperty.my TaxTalk 2019 on April 13, two prominent industry players will be sharing their insights on topics related to property tax. The speakers are Syarikat Ong managing partner Agnes Wong and LePro System Bhd co-founder Elizabeth Siew. Titled “Fractional Ownership – The Solution to Property Glut in Malaysia?”, Elizabeth Siew’s sharing session will focus on innovative home ownership and property investment model made possible and attractive in today’s technology advancements like mass Internet accessibility and blockchain. Agnes Wong will be talking about “How to Protect Yourself via Special Volunteer Disclosure Programme”. The event will be from 10am to 12pm at Menara Star, Petaling Jaya. The early-bird pricing is RM50. Participants will get a chance to check their CTOS Score. Refreshments will be served. Register at: https://forum.starproperty.my/e/7/taxtalk
LATEST HAPPENINGS Championing safety in global tech hub
Govt initiatives aid affordable housing
Setia Haruman Sdn Bhd has been working with stakeholders to enhance the liveability of Cyberjaya, including promoting and developing Cyberjaya as a global tech hub that serves the growing needs of its population while improving the safety and security of residents. Cyberjaya is backed by an efficient safety ecosystem with the fully integrated MERS 999 CCTV system, and the city contains more than 30 cameras spread across high traffic locations. “The majority of Cyberjaya’s working population is active around the clock in order to accommodate the different time zones served by these companies,” Setia Haruman chief operating officer Wendy Li said in a statement. “The safety and security of Cyberjaya citizens is of high-level priority and a collective effort of the town’s stakeholders.”
SkyWorld chief executive officer Datuk Ng Thien Phing believes that government assistance to reduce construction costs will help to create more affordable homes for the people. He said that reduction in land cost, authority charges such as stamp duty, land premium charges, lease extension, authority contributions and development order charges would spur developers to create more affordable housing. “When the costs are high, developers find it difficult to bring down prices. Thus we request the government to reduce these costs,” he said during the SkyAwani 2 topping-off ceremony recently.
Helping buyers with home ownership
Gamuda Land’s GL H.O.M.E (Home Ownership Made Easy) campaign aims to help buyers realise their dreams by providing various financing options to bridge the differential sum between the purchase price and buyer’s end-financing loan amount. First-time home buyers, upgraders and investors alike find it difficult to get a 90% loan, leading to an insufficient amount for down payment. The campaign, with its three key solutions of “No Hassle, No Worries, and No Fuss”, helps buyers to secure their property. These key solutions will provide free financial health check, differential sum assistance, and flexible financing solutions.
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protect the people by spelling out the do’s and don’ts in the guidelines so that there is consistency in the delivery of services.”
Impostors may cause problems
EMPOWERING OUR ARCHITECTS Give priority to local professionals who are as good as foreigners, says LAM By HAKIM HASSAN hakim@thestar.com.my
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HE influx of foreign architects in the property market has affected local practitioners and should be regulated, says Board of Architects Malaysia (LAM) president Ar Zairul Azidin Badin. “With increasing globalisation, professionals are working crossborder and those who are known internationally can get jobs here just by using their brand or name,” he adds, and suggests that the government and the board collaborate to resolve the issue and help locals participate in projects. “Local architects and interior designers have not been given the same opportunities. We have put it clearly to the government to ‘buy Malaysian first’ before getting foreigners to do the same thing we do,” he says. Zairul admits that although the Architects Act 1967 (Act 117) allows foreign professionals to operate in Malaysia as long as they adhere to some guidelines, they should be registered under LAM for better collaboration with locals.
“Priority should be given to local professionals to handle all the services, be they architects, interior designers, Inspector of Works (IOW) or building draughtsman. We know better what should be delivered when serving the people. “We are submitting proposals for foreigners to register with LAM to enable them to practise and collaborate with us on any service,” he says, adding that the board should spearhead the move to protect the interests of locals. “We need to partner with the authorities but we will lead the way. We are not pushing out the foreigners; they have to respect the local rules if they want to work here.”
It’s contained in the Act Zairul says that it is important to uphold Act 117 because it will allow LAM to regulate registered individuals for consistency in the quality of workmanship covering five professions – architect interior designer, inspector of works, building draughtsman and architectural technologist. “We regulate these professionals
so that they provide their best performance and conduct when serving the nation,” he says, adding that LAM is empowered under Section 117 of the Architects Act. “We guide and remind professionals about doing their best for the people. We are more concerned about protecting the people. “We want to manage the architect to perform professionally. Professionals should be consistent and responsible when delivering their services.” If the Act is enforced well, the end consumer will benefit from the products or services delivered by registered professionals, he adds. “Most people think that the Act is there for the architect or professional, but it is meant for the people. We
An issue that has marred the reputation of professionals and the integrity of LAM is unregistered practitioners. Zairul says these individuals are mainly fresh graduates who are eager to serve the market. Worse, there are those who are not qualified but doing the work of professionals – which could result in serious repercussions in the future. “We have been monitoring this problem of graduates who refuse to register with LAM. We have received several complaints. Some of them merely register with Suruhanjaya Syarikat Malaysia (SSM) and set up business to ‘practice’ architecture or interior design. We are strengthening our cooperation with SSM to curb this problem.” Zairul says the matter of unregistered professionals should be taken seriously because it concerns the safety of buildings and their occupants. “LAM has received complaints from the Works Ministry and local authorities, so we are looking into the conduct of persons involved in development projects. If they are not professionals, they shouldn’t do the work because disasters in the building industry can easily result in death. “We also want to ensure that innocent registered professionals are not unfairly blamed. If a building collapses in the future, we know that it is caused by those who impersonated the professionals. We want the public to have confidence in our registered professionals,” he says. Apart from its regulatory role, LAM is actively involved in Accreditation of Architectural and Interior Design programmes at higher institutions of learning, ensuring that the syllabus meets Malaysian requirements. LAM also promotes Malaysian Architecture of National Identity in its role as the authority in architectural matters in the country. Zairul proudly adds that LAM is involved in the Asean Architects and Apec Architects groupings by promoting cross-border recognition of registered professionals among member countries of both bodies.
“WE GUIDE AND REMIND PROFESSIONALS ABOUT DOING THEIR BEST FOR THE PEOPLE. WE ARE MORE CONCERNED ABOUT PROTECTING THE PEOPLE. – ZAIRUL AZIDIN BADIN
Cover Story
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PEAK OF URBAN LUXURY LIVING Project offers an ideal blend of nature, tranquillity and convenience in the heart of JB
The Peak is an ultra-low density residence with only two to four units per floor in a premier location. By NG PAU LING pauline@thestar.com.my
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HE most striking feature of The Peak by Gabungan AQRS Bhd is its setting – prominently perched on the highest point in Johor Baru City Centre (JBCC) and overlooking Singapore. The low-density luxury serviced apartment project sits on 5.5 acres of commercial freehold land. Its two 39-storey interconnected buildings comprise 668 apartments with built-ups from 947sf to 2,200sf. “In many cities in the world, a hilltop residence symbolises luxury living,” said Gabungan AQRS Bhd group CEO Datuk Azizan Jaafar. “The Peak also offers city dwellers the serenity of nature, stunning views, and a sense of tranquillity.”
Ultra-low density at a premier site Although sited on one of the last remaining freehold plots in JBCC, Gabungan AQRS chose to buck the trend by designing The Peak as an ultralow density project. With only two to four units per floor at a premier location, The Peak offers functional sizes of 947sf to 1,217sf that will suit young executives who can opt for a two-bedroom Suite, 2+1 bedroom Executive Suite, or 2+1 Panorama Suite. For buyers seeking a higher level of exclusivity and privacy, the three types of Sky Villa from level 22 onwards will exceed their expectations. Only two units per floor and built-up starting from 1,948sf, every villa is a corner unit that enjoys unobstructed views. The Sky Garden Villa features a
large triple-volume height balcony that allows residents to transform it into a private sky garden while the dualkey Sky Villa, which is divided into two independent units, is perfect for multi-generational families or an owner exploring investment opportunities. Gabungan AQRS is now relaunching the project with special rebates. “The twobedroom Suites is priced from RM520,000, while the Sky Villas and Sky Garden Villas are starting from a competitive pricing of RM487psf during the promotion period,” said Azizan. Also, the first 150 buyers will enjoy free maintenance for two years. All units in The Peak are semifurnished with branded fittings such as Signature Kitchen cabinets and wardrobes, Kohler bathroom fixtures, and air-conditioning. The units also come with smart-home system, with access for specific areas controlled by a mobile phone app. Aside from its natural setting and the luxury features, The Peak’s location in the heart of JB offers residents myriad lifestyle facilities nearby. The project is easily connected to the Eastern Dispersal Link, Tebrau Highway, North-South Highway and Pasir Gudang Highway. Residents will also enjoy plenty of quality amenities within a 6km radius, including the new Mid Valley Southkey Megamall,
Ikea, golf courses, hospitals and international schools. Security features at The Peak will be state-of-the-art, with three-stage integrated security technologies to ensure peace of mind. At its core is the perimeter and location CCTV that works in tandem with guard patrols. The development also features PrimeXcess, a keyless system that allows residents to access the guard house, boom gates, lift lobby and facilities decks via a single mobile application. “Given the luxury features, strategic location and competitive pricing, we are confident that The Peak is top on the value-for-money list. Similar types of property in the surrounding area are already being transacted above RM1,000psf,” added Azizan.
Flexi ownership plans for buyers Two exclusive home ownership plans – “Reside Before You Decide” and Gabungan AQRS Bhd group CEO Datuk Azizan Jaafar.
ABOVE: High above on levels 20 and 22 are the two Sky Clubs with facilities such as outdoor gym, viewing point, Sky BBQ and Sky Dining areas.
““LUXURY IS MORE THAN THE USAGE OF EXPENSIVE MATERIALS AND FINISHES. IT IS ABOUT PRACTICALITY, CONVENIENCE, SECURITY AND THE ATTENTION TO DETAIL. — AZIZAN
BELOW: The upcoming E’Island Lake Haven@Puchong features waterfront residences, with affordability and natural beauty being strong selling points.
GBG Cashback – are now available for buyers of The Peak. “Reside Before You Decide” is a rentto-own option for the buyer to move in by paying rental for 36 months before signing the SPA. The home price will be locked for 36 months, and the rental will go towards reducing the actual loan sum. The buyer will also enjoy a 10% rebate. While the GBG Cashback will provide a higher rebate of 14% for units with the view of Singapore and 16% (JB view) on the property price, as well as additional cashback savings totalling RM90,000 over 36 months. Qualified purchasers could enjoy a low monthly repayment period for the first 36 months. The Peak is now at the stage of interior installation and expected to meet its completion date in Q3 of 2019. Over 30% of units in The Peak have been bought by locals as well as foreigners.
E’Island Lake Haven in Klang Valley Another upcoming project by Gabungan AQRS is the lakefront E’Island Lake Haven@Puchong, slated to be launched by the end of April. Located in fast-growth Puchong, E’lsland Lake Haven is a lake-view leasehold residential project that offers 1,140 units ranging from 881sf to 1,099sf and priced from RM295,000. Despite its competitive price points, E’island Lake Haven units are semifurnished with branded fittings including four air conditioners, Signature Kitchen cabinets and wardrobes, along with a wet kitchen for selected units. “E’Island Lake Haven@Puchong is designed to address the concern of market affordability. About 90% of the units are priced under RM400,000,” said Azizan. The first 500 buyers of E’Island Lake Haven@Puchong will enjoy higher rebates on the property price and two years free maintenance. For details, visit: https://gbg.com.my/ .
WEDNESDAY 3 APRIL 2019
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HOUSING THE NATION IN 2019
Cagamas sees imbalance between demand and supply in the property market
borrowers to borrow up to 100% or more. “For houses below RM300,000, those earning below RM5,000 either individually or as a household can even borrow up to 110% including the down payment as well as the mortgage reducing term assurance (MRTA). This means they don’t have to come up with a lot of money to buy a house. “It is to help first-time home buyers. Because of rising prices, by the time they have saved up for the 10% down payment it is no longer enough. “To accelerate the buying process for buyers to avoid this volatility of price increase, the government basically provided the mortgage guarantee on behalf of these borrowers. And because of this facility, banks are able to charge slightly lower. “Ultimately we will need a wider solution for both the supply and demand sides. We are looking at more innovative schemes that will allow individuals to buy their desired homes,” he adds.
The way ahead for Cagamas
By HAKIM HASSAN hakim@thestar.com.my
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HE soft property market trend is expected to continue this year due mainly to a mismatch between demand and supply. And this imbalance is exacerbated by a slower household income growth, says National Mortgage Corporation of Malaysia (Cagamas) president/chief executive officer Datuk Chung Chee Leong. “Looking at the house price index released by the National Property Information Centre, we see that in the third quarter of 2018 there is only an increase of 1.1% which is relatively low compared to 6%-7% in the late 2000s. “There is a huge demand for houses from some sectors, particularly for affordable housing, but there are lots of unsold units. The oversupply or housing overhang is about 30,000 units,” he told StarProperty.my. Chung attributes the oversupply of homes to location, accessibility and personal preferences. “There is a huge demand for affordable houses but some of them – even when priced at RM300,000 – remain unsold because of the
location or accessibility in terms of transportation and infrastructure, and a general preference for landed properties compared to apartments. “But I think it is more to do with location, as you can see with previous reports by the media that a particular road was experiencing congestion as early as 5 am, so technically, yes you may have supply of such houses in an area, but because of the fact that there is a lack of accessibility, this would somewhat affect the demand of houses itself.” Chung says that another contributing factor is the inability to get loans. “Reasons for applications being rejected include high indebtedness of the borrower, the high gearing that they already have, or they are deemed as not credit-worthy to own property. Although they are keen to buy, they cannot afford it.”
Getting loans for affordable homes Asked about the new Fund for Affordable Homes initiated by Bank Negara Malaysia (BNM), Chung says it is a short-term measure to help address the issue of accessibility to financing.
“There are two parts to this housing issue: one is affordability with respect to pricing and the other is accessibility to financing. “The point is whether the borrower can get the loan. BNM and Cagamas are looking at how we can assist borrowers in buying their house,” he adds. Chung says there are also problems to address from the developer’s side. “The high cost of construction, high land cost, labour cost as well as developmental cost – all contribute to high house prices. “Since the new national housing policy is now in place, the relevant parties should ensure that prices have not spiralled out of control.” On the RM1bil fund for affordable housing, Chung says it will help borrowers in the B40 group (those earning less than RM2,300 a month) to buy houses priced below RM150,000. “It is essentially a subsidised interest rate of 3.5% compared to normal housing loans of around 4%-5% or even more depending on credit-worthiness. Because of the lower interest rate, the borrowers will have a lower loan repayment.” Chung says Cagamas will provide the mortgage guarantee to enable
“THERE IS A HUGE DEMAND FOR HOUSES FROM SOME SECTORS, PARTICULARLY FOR AFFORDABLE HOUSING, BUT THERE ARE LOTS OF UNSOLD UNITS." – DATUK CHUNG CHEE LEONG
Last year, Cagamas issued about RM15.8bil worth of corporate bonds and sukuk – which is the highest in the last 10 years, says Chung. The figure for 2019 is estimated at RM15bil. “As we expect to buy housing loans worth about RM13bil to RM14bil, issuance should be around RM15bil or so. “Basically we mobilise the bond and sukuk markets both domestically and internationally. We issue bonds in US dollar, Singapore dollar, Hong Kong dollar, Australian dollar as well Chinese Renminbi; these issuances bring back money which we pass to the banks at competitive rates so they can lend some of the funds to house buyers,” Chung explains. In terms of Islamic assets, he says they make up 38% which is in line with BNM’s target. “By 2020, our target for Islamic assets could be around 40% or even 45%. It depends on the needs of the banks; the number of Islamic banks is still small compared to conventional banks,” he adds.
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HOME OWNERSHIP FOR ALL
Proposed new housing ecosystem suggests using EPF to pay monthly loan instalment
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ALAYSIA Institute of Professional Estate Agents and Consultants (Mipeac) deputy president See Kok Loong answers pertinent and pressing questions concerning housing affordability among the B40 and M40 groups in the country. 1. According to the National Property Information Centre (Napic), as of 3Q 2018 the number of unsold homes in Malaysia has reached a new high of 30,115 units amounting to RM19.54bil (unsold homes completed nine months from the Certificate of Completion and Compliance, excluding residential properties built on commercial land like serviced apartment, SoHo and others). Do you think the current property market is in oversupply or merely mismatched? It is both. There is a mismatch of the type and price for a certain location. Generally, there is an oversupply in the market (based on the population and the number of units completed), for example in certain parts of Johor. 2. Recently, the government came up with initiatives such as the National Housing Policy 2018-2025, Housing Ministry’s first Home Ownership Campaign (HOC) in March 2019 as well as lowering the ceiling price of affordable houses at RM300,000, Bank Negara Malaysia’s RM1bil funds for affordable homes for two years, the Ministry of Finance announcement on stamp duty waiver during the HOC for six months, and the Real Estate and Housing Developers Association Malaysia (Rehda) offering a 10% discount. Do you think these initiatives will help the rakyat achieve home ownership? I appreciate the initiatives of the government to resolve the mismatch and oversupply issues, but they may not solve the home ownership problems for the B40 and M40 groups. The initiatives merely push up demand so that buyers can make decisions earlier because of incentives in the short-term period. The real solution is to have sustainable demand by raising country productivity, which gradually increases wages. Therefore, more initiatives are required to boost disposable income like an economic transformation plan. 3. How can we control the supply of houses in the market? Land-related matters fall under the jurisdiction of the state. Due to political reasons, it is almost impossible to control incoming supply. The federal government can only manage supply using acts and policies such as the Housing Development Act and Town and Country Planning Act. One way of monitoring incoming supply is to gazette the local plans. The land for the Tun Razak Exchange (TRX) obtained a higher-than-normal plot ratio of 1:15 compared to the draft plan of 1:8 due to the DBKL draft plan 2000-2020 being delayed. The increase could create
If the monthly payment comes directly from the EPF monies, many banks would be willing to finance the purchase even for the B40 group because the instalment is secured for the long term. 12. What else do we need to know about the new ecosystem? The new ecosystem proposes three things: • Home ownership. • Owning a house at the young age of 20 to 25 years old. • Having additional disposable income from rental savings. Liquidity is good for the entire property market and will bring prosperity to other industries. Banks do their business as usual while the developers get to sell their units because the new ecosystem solves the real residual income issue.
other social problems such as traffic congestion and poor living quality. 4. Is affordability an issue in the Malaysian housing market? Yes, according to Khazanah Research Institute, our homes are not affordable for the B40 group. To overcome the affordability issue, we should adopt the state-based affordable level as proposed by the institute and monitor it on a yearly basis. Based on that affordability level, the government can set policies to ensure that supply meets demand. 5. Can developers build affordable houses priced below RM300,000 and still remain profitable, keeping in mind the high land cost? Land cost, high or low, depends on demand and supply. When there is no demand for the land, the price will come down especially if the plot ratio or density is fixed (gazette of the local plan). As profit is the balance of price less cost, developers in an open economy and an ideally governed environment should compete by reducing the cost to capture profit. The biggest part of the cost of a building is the construction cost. Therefore, developers should adopt new construction methods like IBS or 3D printing to bring down the cost. 6. During the last few years, industry players have been blaming the banking institutions for being too strict with loan approval. What is your opinion? Banks, like any other entities, need to be responsible towards their stakeholders such as deposit holders, Bank Negara Malaysia, and others. It is common for them to approve loans for “high quality” customers compared to the low real residual income B40 group that may have repayment problems. However, if there is a mechanism that enables the security of repayment, most banks are willing to finance the purchase. 7. What role should the government play in the matter of housing?
I believe in a market economy whereby the market is self-regulated and the government should not interfere. However, the government should remain as a gatekeeper to ensure that laws are followed. The current situation of “oversupply or mismatch” is created by the previous government that came into the market, adding supply with many housing schemes like 1Malaysia People’s Housing Programme (PR1MA), Federal Territories Affordable Housing scheme (Rumawip), and 1Malaysia Civil Servants Housing Project (PPA1M). 8. So, due to affordability issues, is it possible for every Malaysian to own a home? Yes, it is possible but we need to create a new ecosystem for home ownership in Malaysia. 9. What is the new ecosystem? The new ecosystem will use the Employees Provident Fund (EPF) to pay the monthly housing loan instalment. Around 24% of the employee’s gross salary goes into EPF (11% from employee and 13% from employer). As long as the person is working, the EPF contribution can be channelled towards the monthly instalment. 10. It is risky to use the EPF to fund housing loans since it is a forced savings plan for retirement? This plan is most suitable for first-time home buyers only and is targeted at the younger generation who come into the workforce at the age of around 20. At 45 years old, the person should have a mortgage-free home with a balance of savings from age 45 to 60. Savings can also be derived through the increase in the individual’s future monthly income. It is not really risky because affordable homes for own stay is the safest long-term investment. The government policy has to come in to ensure the proper implementation of the proposal. 11. How does the mortgage work then?
TO OVERCOME THE AFFORDABILITY ISSUE, WE SHOULD ADOPT THE STATE-BASED AFFORDABLE LEVEL AS PROPOSED BY THE INSTITUTE AND MONITOR IT ON A YEARLY BASIS. – SEE KOK LOONG
13. What if the individual sells the property before fully repaying the instalments? The monies will be returned to his or her EPF account like a unit trust investment. 14. What if the individual is unemployed? The scheme only applies after six months of confirmation so that the individual’s career is stable. It can also be covered by insurance once the person loses his or her job for a certain period. 15. Based on your calculation, what is the value of the property that the B40 and M40 can afford to buy? Based on the Department of Statistics Malaysia, the median household income of the B40 group is RM3,000 per month. With EPF savings at 24%, an amount of RM720 per month is derived. With an interest rate of 4.4% and a loan period of 25 years, B40 individuals with EPF funds of RM720 monthly can afford a loan of RM135,000 – which means a person can buy a property priced at RM150,000 with 10% down payment and 90% financing. The median household income of the M40 group is RM6,275 per month. With EPF savings at 23%, an amount of RM1,443 per month is derived. With an interest rate of 4.4% and a loan period of 25 years, M40 individuals with EPF funds of RM1,450 monthly can afford a loan of RM 270,000 – which means a person can buy a property priced at RM300,000 with 10% down payment and 90% financing.
>See Kok Loong is Metro Homes Realty Bhd executive director and Malaysia Institute of Professional Estate Agents deputy president and consultant.
Disclaimer: The article is merely the contributor’s personal view and opinion. It does not represent the stand of any media, firm or association. The views, thoughts, and opinions expressed in the text belongs solely to the interviewee. The information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented, and the information and/or documents contained in this article do not constitute investment advice.
A dvertorial
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PLANNED WITH NATURE IN MIND
Rymba Gardens homes built on gentle slopes out of respect for the terrain
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ITUATED in one of the few remaining prime pieces of freehold land in Kajang and overlooking four lakes, Rymba Gardens is the latest phase introduced in Jade Hills featuring 104 low-density designer homes surrounded by three acres of lush gardens. A total of 12 nature-inspired facilities will be built within the gardens including garden walkway, forest trail, tree house, pavilion, pergola, garden pavilion, outdoor fitness station, children play station, viewing deck and camping zone. Each facility is carefully planned to create a living environment that is in harmony with nature. Backed by developer Gamuda Land’s town-making experience, Rymba Gardens is built with respect for nature. To preserve the natural terrain of the land, homes are sited on gentle slopes which will also afford them a sweeping view of the parks and lakes. “It is timely for us to introduce Rymba Gardens as our recent releases at Jade Hills have limited units available. To date, 85% of link villas and linked semi-D’s in Hana Gardens and 50% of bungalows in The Lakes precinct have been booked,” said Jade Hills general manager Jarrod Ting, adding that the good take-up is due to Gamuda Land’s track record which has strengthened over the past 10 years. “When we carefully think through our master plan, getting the places right and working well with our community to sustain the town, Jade Hills retains its personality as a town enveloped by nature and one that suits the community. When people come here,
they get a feel for the place and want to be a part of it,” Ting explained. He adds: “Rymba Gardens is targeted at upgraders currently residing in KL South, such as Kajang, Seri Kembangan, Bangi, Semenyih, Cheras and other nearby areas. They would want to live in a peaceful and green environment yet still have easy access to modern amenities.”
Getting the places right makes the town work Gamuda Land approaches townmaking through mindful planning to bring all components of a town together harmoniously, such as how the parks and lakes are laid out to open up space within each neighbourhood and how the streets are mapped out to encourage walking and biking. This creates a sense of place and a personality for the town so that when people move in, they will notice a difference. In Jade Hills, different spaces were created for different aspects of life, such as the home place, the park place, the play place, the gathering place and the learning place. These support the community and offer residents an improved quality of life and future capital growth. For example, a key gathering place for the community is the Jade Hills Resort Club with its four-acre (1.6ha) lake frontage. It is the ideal spot for sports and leisure activities and is equipped with an Olympic-size swimming pool, tennis court, badminton court, basketball court, gymnasium, kids’ game room, table-tennis area, teahouse, study area,
Lakes and gardens are thoughtfully incorporated into the design of Rymba Gardens.
MORE THAN 10 YEARS SINCE ITS CONCEPTUALISATION, JADE HILLS HAS FLOURISHED INTO A SELFCONTAINED, PREMIUM, LOW-DENSITY TOWN WITH A FOCUS ON GREEN LIVING.
BELOW: Residents at Jade Hills have the privilege of living in harmony with nature.
and multi-purpose function rooms for events such as meetings, seminars, weddings and banquets. The learning place is Eaton International School, which was established in 2013 and moved to its sixacre (2.4ha) campus in Jade Hills three years ago. Additionally, a nine-acre (3.6ha) government school reserve has been set aside for development.
Vibrant space for the community Raising its game this year, Gamuda Land introduced Jade Hills Merchant Market, a place-making initiative to activate public spaces for healthy community activities. On every first and third Sunday of the month, there will be a thematic bazaar featuring more than 60 pop-up stalls, games and retail therapy. Not only does this bring a new avenue for the community to shop, play and dine, it also attracts footfall to the businesses in Commerce Village. Currently, the Commerce Village houses grocery shops, convenience stores, food and beverage outlets as well as other amenities for residents’ daily needs. Jade Square, a new commercial place which will be ready in 2020, will cater to the growing community. Jade Hills is well connected via six major highways, namely SKVE,
KL-Seremban Highway, Sungai Besi Highway, Cheras-Kajang Highway, SILK Highway and Lekas Highway. Recently, Jade Hills opened another access road via Persiaran Jade Hills that enhances its connection to Cheras South and Balakong. To ease the daily commute of the community, there is a daily shuttle bus service that brings residents to Kajang town and MRT Stadium Kajang.
Well-designed homes with high ceiling The link villas feature a standard land size of 24ft x 80ft and built-up sizes of 2,575sf and 2,946sf. The semi-detached homes feature a standard land size of 35ft x 80ft and built-up of 3,472sf with 10ft of land at the side and rear. Each home in Rymba Gardens has a high ceiling, fully covered car porch, and an open-plan layout that features large living and dining area as well as a sizeable bedroom at ground level which is suitable for the elderly. Every bedroom comes with en suite bathroom. It is a home that is designed for all generations. For more information about Rymba Gardens, visit Jade Hills Experience Gallery or call 03-87419890. Alternatively, head over to Jade Hills Merchant Market this Sunday from 5pm to 10pm.