Thursday 25 April 2013

130418 (Star-Number of property transactions dropped in 2012)

http://www.starproperty.my/index.php/property-news/number-of-property-transactions-dropped-in-2012/

Market slowed in Penang, KL and Selangor but recorded double digit growths in Kelantan and Putrajaya.


Source: National Property Information Centre

After two years of high growth, the number of transactions within the property market fell last year. This number fell from 430,403 transactions in 2011 to 427,520 transactions in 2012, a drop of 0.7%, as revealed at the recent launch of Property Market Report 2012 by the Ministry of Finance’s Valuation and Property Services Department.

Sub-sectors which suffered were the commercial sub-sector (which declined in number of transactions by 5.9%), the agricultural sub-sector (-5%) and the industrial sub-sector (-4.7%).

Taking up the slack was growth in sales of development land which grew by 6.1% but less than in 2011 when it had grown by 14.8%. The residential sub-sector also grew but at 1.1%, compared to 18.9% in 2011.

In terms of states, the states with major property markets saw transactions drop in 2012. These included Penang (which declined about 21%), Perak (-8%), Johor (-7%), Kuala Lumpur (-3%) and Selangor (-2%).

States which have smaller property markets, in the meantime, flourished last year: Kelantan (increased by 50%), Putrajaya (27%), Pahang (15%) and Terengganu (12%). One of the factors to boost Kelantan’s property market was a bulk transfer of 2,603 units of vacant residential plots, which caused its residential sub-sector to nearly double.

While number of transactions has dropped, the value of transactions has increased from RM137.8bil in 2011 to RM142.8bil in 2012 (an increase of 3.6%).

In terms of value, the sub-sectors which increased the most due to prices of transactions being higher, were development land (increased by 16.6%), residential (increased 9.6%), industrial (4%) and commercial (0.6%).

While number of property transactions dropped in Selangor by 1.7%, the value of transactions in Selangor increased by 13.8%, indicating a significant increase in the prices of transactions.

Home sales increased in quantity by 1% but in value by nearly 10%

The number of residential property transactions last year grew by 1.1% to nearly 273,000 transactions, totaling about RM68bil in sales.

This 1% growth came from increase in home sales in Kelantan, Pahang and Putrajaya, among others. The growth in these states were offset by drops in transactions in Penang (-24.2%), Perak (-9.1%), Johor (-7.2%), Sarawak (-2.6%), Kuala Lumpur (-1.3%) and Selangor (-0.5%).

The drop in Penang, for example, may have been attributed to a correction in the market. For example, home sales in Penang dropped by 24% last year, after it had already climbed by 68% in 2011.

While home sales in Selangor dropped slightly last year, the state still maintained the highest market share with 28% of the country’s home sales being in this state, followed by Perak (11%), Johor (11%), Kuala Lumpur (9%) and Penang (9%).

Even though the number of sales of homes in Malaysia increased only slightly at 1%, the value of sales increased by 9.6%. Compare this to the increase in value of sales for all sub-sectors at 3.6%, indicating that prices for homes have increased more than prices for other sub-sectors.

As such, even though six states recorded a drop in number of sales, nearly all reported an increase in the volume of sales, except for Penang and Perak.

Putrajaya in particular showed a marked value appreciation, with number of transactions having increased by 27% but value increasing by 78%!

And even for the biggest loser, Penang, even though number of transactions dropped by 24%, the value of these transactions dropped by only 8%, so prices were seen to have held somewhat.

In terms of pricing, the segment with the highest activity was the RM250,000 to RM500,000 segment, taking 18% of the market. Sales of homes priced above RM500K also increased from around 22,000 units in 2011 to around 26,500 units in 2012.

In terms of property types, terraced houses remained the most popular with about 36% of the market, while condos made up 15%. Many of these houses were located outside of the Kuala Lumpur and Selangor, however, given that 75% of of condo/apartment transactions were conducted in KL and Selangor.

In terms of developer units, the number of new launches increased from around 49,000 units in 2011, to around 57,000 units last year. Over 60% of these new launches were in KL, Selangor, Johor and Perak.

Take-ups from these launches were the best in KL (with 60% sales), Penang (56%) and Melaka (51%).

In terms of residential overhang, number of unsold developer homes dropped and Putrajaya and Labuan even recorded zero overhang. Among those units which remain unsold, 21% were condos/apartments, with nearly half of this number priced over RM1mil and located in Kuala Lumpur.

Wednesday 24 April 2013

130418 (NST-Fancy parking your car next)

http://www.nst.com.my/red/cover-story-fancy-parking-your-car-next-1.258469#ixzz2QvdGFtfM

CAR IN THE SKY: As sky garages slowly make its way to the region, NST RED explores the concept of parking your car right next to your high-rise unit

For those who favour landed homes over high-rise living, one major argument has always been that high-rises lack the traditional feeling of a ‘home’. For some, it’s about having a patch of grass — or thatch, as the case may be — to call your own and agonise about weeding every other weekend. For others, it’s about being able to walk out your door straight into your garage or driveway where your car is parked, without having to waste time walking to your parking spot some distance away.

Unless of course, your apartment comes with a ‘sky garage’.

Driving home upstairs

At the heart of it, the concept of en-suite parking brings an element of ‘landed’ appearance to high-rises. For homeowners, the main attraction of opting for a unit with en-suite parking facilities is the ‘home’ feel that comes with being able to park right outside where you live. “Sky garages try to make high-rise living similar to that of landed homes,” says KL See, director of Metro Homes real estate and property agency. “We now have sky bungalows and sky semi-dee houses and a sky garage forms part of the unique features.”

Despite the novel concept, the technology behind it is quite conventional. The idea is not unlike the novelty of having a private lift to your apartment — only this one is big enough to fit your car in. Notably, many implementations of the concept also see advanced recognition technology to verify owners’ identity.

Most residential high-rises featuring sky garages provide car lifts that carry both car and driver up. An example is the 19-storey 200 11th Avenue in Manhattan, New York, where residents would drive up to a special gate where an electronic reader would open the gate after verifying the car — akin to our Smart Tag scanners. As the gate closes behind the entering car, another gate leading to the car lift would automatically open for entry.

Once inside the car lift, the driver would be reminded to turn off the engine as infrared sensors keep track of the car’s position. Occasionally, the driver may be asked to adjust the car’s position by driving slightly forward or backward as needed. Then the lift would automatically go to the driver’s floor where he or she would reverse the car out of the lift into the garage space adjoining his or her apartment — arriving home immediately after stepping out of the car.

Of course, different developers and designers invariably apply their own distinctive touches and styles to the specific workings of their sky garages. Hamilton Scotts in Singapore, for instance — reportedly the first to feature the concept in Asia — uses a biometric scanner to read the resident’s thumbprint before instructing the car lift to send the car up to the resident’s en-suite sky garage. Additionally, the driver would have to ride up in a separate lift that is still within the view of the car lift.

Pros and cons

Apart from bringing an element of landed living to the increasingly more common high-rise residences today, sky garages appear to embody the human desire for novelty and exclusivity. Even those whose address lies in the prestigious urban areas of the city can’t always claim that they have the luxurious convenience of being able to drive straight to their doorstep, as landed homes are increasingly a rarity given spiralling land costs today. Additionally, many sky garages are separated from the living rooms of their respective apartment units by only a glass panel, allowing their owners to show off their sexy Aston Martins or shiny Lamborghinis whenever guests are around. “It is nice especially for those car lovers who can see their nice vehicles from the living area,” comments Metro Homes chief See.

The aesthetics extend further, in fact, to the building design itself. “Sky garages reduce the levels of car park podium required as garages are located inside the unit itself or next to it,” explains See. “The building in fact is nicer this way, rather than our conventional five levels of car park podiums before reaching the facilities floor followed by the typical layout floor.”

Incorporating such a feature does not seem like an especially difficult undertaking for any willing developer. According to Ar Dr Tan Loke Mun, Director of ArchiCentre, the only special consideration in the process is the “vertical transportation lift to carry the car.” Such a consideration, says realtor See, is not a problem for today’s technology but he also adds that its pros and cons as well as potential long-term benefits warrant consideration before implementing the concept.

The concept is not without critics, however, perhaps given the subjective nature of its value to homeowners. “Why would you need to have a car garage high up in the sky?” asks Dr Tan, who is also Past President of the Malaysian Institute of Architects. “It is totally not in line with the current trends and growing awareness of sustainability and green.”

Indeed, in light of the growing preference among homeowners towards green and energy-efficient home features, the additional costs required for sky garages appear forefront on the list of negatives when it comes to sky garages. “They are costly to build and maintain as it involves a mechanical system to lift the car up to the upper levels,” remarks See. “It also takes a longer time to move the car to/from the garage especially during peak hours.”

In addition to the sheer cost of building and maintaining the facilities, risks also appear greater in the event things go wrong — a malfunction may see your supercar stuck on the 20th storey just when you needed to drive somewhere urgently. Security also comes into consideration if the residential unit concerned is rented and not owned, according to See of Metro Homes. “It can be dangerous too because if any accident occurs, the entire building might be at risk.”

Trend or fad?

Looking at developments featuring sky garages around the world, it appears to be the realm of the uber-rich as most of the developments have very low density as well as expensive price tags — 200 11th Avenue in Manhattan is a 19-story building consisting of a mere 14 units, which have sold for between US$3 million (RM9.12 million) and US$32 million (RM97.28 million). Hamilton Scotts in Singapore has 56 units comprised within 30 storeys with prices starting at SG$7.9 million (RM19.45 million).

With Malaysia set to see its first residential development featuring sky garages in Iskandar, Johor, will sky garages become more commonly offered in Malaysia as the next main selling point for high-end projects?

“I believe it would start as a mere luxury feature for the next 5 –10 years. Once we have a proven and established system for sky garages, then more developers might adopt the concept,” opines See from Metro Homes. “Even if it is implemented, it will mostly be located in the downtown high-end areas where land is limited or where there are few constraints in its implementation. Otherwise, most builders would still be happy with conventional parking facilities.”

Indeed, increased costs for incorporating the feature as well as the design considerations and other factors mean sky garages may be more trouble than it is worth for most developers in Malaysia. This means sky garages may not become more than an expensive rarity occasionally found in selected exclusive developments. However, it is interesting to note that a similar concept of using lifts to move vehicles to and from the car park podium is already seen in Malaysia such as in Menara Genesis in Kuala Lumpur as well as the upcoming Times Avenue Tower, which is set to feature the country’s first fully automated valet parking system.

“There are vertical car parking ‘silos’ that have been used in city centres with limited land such as in Seoul, Korea. But for condos, it is just a novelty,” says Dr Tan from ArchiCentre, who is also an Adjunct Professor in Architecture at Universiti Putra Malaysa. “The only valid reason that I can think of is if you were super concerned about security and privacy such as if you were Batman!”

Future of sky garages?

Practicality aside, the fact remains that those who can afford it enjoy the novel concept of being able to park at one’s own doorstep while living in a high-rise. Asians are no exception, based on Hamilton Scotts in Singapore which sold well, says See.

Value-wise, how much does a sky garage influence the pricing of the entire unit and its price appreciation potential?

“It is very difficult to put a value to it because luxury items and new innovations cannot be valued based on past history as it does not have any prior benchmark,” elaborates See. “For sure, the developer would sell the garage as part of the building built-up unlike accessory parcels in a conventional condominium. The cost of maintaining the mechanical system will be borne by all residents alike similar to common properties within the condo.”

It should be noted that sky garages are basically parking facilities and therefore may not have the same per square foot valuation as the rest of the actual accommodation. Not that it would matter much to those who can afford such properties. For them, no price is too high for the convenience of doorstep parking or pride of owning a sky garage in the middle of a densely populated urban area.

“It will be good to see how it will be implemented in Malaysia,” See of Metro Homes says. “It will definitely attract the elite group of the society and car lovers.”

On the other hand, architect Dr Tan is averse to the concept, seeing it as a step in the wrong direction. “I would not do it as I am waiting for the day when cars get restricted from entering communities and cities. Hopefully, one day the car will be made obsolete when all buildings in cities become fully interconnected and linked with an integrated public transportation system.”



Car lifts that bring both driver and car up together allows you to drive up to your doorstep as if living in a landed home.

130419 (NST-FOCUS: RM5,000 per sq ft for a KLCC penthouse?)

http://www.nst.com.my/red/focus-rm5-000-per-sq-ft-for-a-klcc-penthouse-1.258477#ixzz2QxypL9eW

SKYROCKETING PRICES: Prices of high-end condos in the KLCC area continues to scale new heights. Could it breach the RM5,000 per sq ft mark?

New record

Amidst the slower property market, a segment of the market namely, the high-end luxury condos or super penthouses has continued to defy market expectations with prices hitting the roof. The market was abuzz with news last week that two units of 11,900 sq ft penthouses at Four Seasons Place in the KLCC (Kuala Lumpur City Centre) area were being booked at a new record price of RM37 million per unit which works out to a stunning RM3,026 per sq ft. The previous record was held by the Binjai On The Park at RM2,900 per sq ft which were also super penthouses in the KLCC area.

These eye-catching figures beg the question – are these one-off, isolated cases or will prices of luxury condos, especially in the KLCC area, continue to go through the roof? Gavin Tee, Founder and President of SwhengTee International Real Estate Investors Club forecasted in 2011 during one of his property seminars that prices of luxury condos in Kuala Lumpur might hit RM5,000 per sq ft by 2016. Commenting on last week’s Four Seasons Place transaction, he is the least bit surprised by this phenomenon and continues to hold on to his belief that prices of luxury condos in KLCC area will rise even further.

Breaching RM5,000 psf?

According to Tee, Greater KL is set to become an international property hotspot by 2015 and prices will definitely heat up in a couple of years’ time. “What I said in early 2011 still stands. I believe that with the expected booming of the overall property market in Greater KL in a few years’ time, condominium prices in KL will likely hit record prices by 2015. I had predicted prices of premium condos to breach the RM5,000 per sq ft mark by 2016 but it could reach that price level much earlier, or even go beyond that if the property market really takes off.”

Touching on the inevitable subject of the coming general election and its potential impact on the property market, Tee remains optimistic by pointing out that although the property market in KL has slowed down a bit recently, prices of exclusive projects such as the Four Seasons Place are still picking up. “2013 is election year. I think it will take a bit of time for the Malaysian economy to move into gear post-election, probably up to six months. Nevertheless, a lot of infrastructural projects such as the MRT (Mass Rapid Transit) are already being executed while blueprints for big projects such as the TRX (Tun Razak Exchange) are in the pipeline. Many major foreign investors are waiting to come in by the end of the year while waiting for the new government to settle in with their new teams, cabinets and policies, ” continues Tee.

Tourism factor

To a certain extent, Tee says that this period of settling-in by the new government, regardless of which party wins, will also slow the pace of the property market somewhat in the short-term but he points out at another factor – the growth of the tourism industry - that supports his firm belief that prices of luxury condos will continue its upward trend in the long run.

“Malaysia’s tourism is one of the fastest growing industries in the country. In fact, if you consider some of the high-end serviced apartments in major tourist attractions like Pangkor Island or Cameron Highlands, rental rates for some of these serviced apartments or hotels have increased a lot in the past few years and are continuing to rise. Rentals can go up to RM1,000 per night, or even higher during peak season. So, if you calculate based on an estimate of 6 per cent rental yield, translated into real terms, some of these apartments may already have hit RM5,000 per sq ft,” explains Tee.

Premium brand

See Kok Loong, Director of Metro Homes Sdn Bhd agrees with some of Tee’s assessment of the high-end condominium market. “I think it’s a fantastic development and especially with a renowned brand like Four Seasons Place, it can only be a good thing because it gives a certain aura or cachet to the local property market. The property owner is also assured of high quality and standards associated with a premium brand,” says See.

The realtor adds that some of the market factors driving the prices of these luxury condos are inflation, the MRT and other future infrastructural projects such as the proposed High- Speed Rail (HSR) link between Kuala Lumpur and Singapore. See says that prices of luxury condos, as shown in last week’s Four Seasons Place transaction, would highly likely continue to rise although he is less certain than Tee as to whether it might reach the RM5,000 per sq ft mark.

“It will be difficult to reach RM5,000 per sq ft level but the price would probably hover around RM3,000 to RM4,000 per sq ft, mainly due to the rising construction costs and shortage of land at prime locations.”

According to See, he does not see the bubble bursting on the prices of these luxury condos any time soon because “they are premium, branded products and are usually sold to high net-worth clients with long-term holding power. With the increasing globalisation of the economy, we should be attracting more investors and property buyers from other parts of the world like Hong Kong and Singapore. Only by doing this would we be able to sustain prices at these levels,” observes See.

Mismatch in rental?

Nevertheless, there are those who prefer to temper expectations that are bound to rise with these recent developments and are cautious about the spiralling prices of high-end condos which they opine is not a good general gauge or reflection of the overall property market.

Ishmael Ho, Director of Ho Chin Soon Research comments that the sale of the penthouses at such ‘astronomical figures’ is not a surprise because in terms of value, the KLCC area is currently where many high-end property purchases are concentrated. But will prices move even further upwards? “I don’t know. Value is always relative in that sense. The main question is who are the people setting such prices? People who are buying in these areas are not your average purchasers - they are cash-rich. They can buy and hold. Whether it will set a benchmark or not, I don’t know,” says Ho.

Datuk Ng Seing Liong, Managing Director of Kota Kelang Development Sdn Bhd also echoes these sentiments. “To me, whether the prices will increase or not will depend on whether there will be rentals to match these kinds of prices. I always look at yields and returns as they are fundamentally important. If there are no returns, it will be difficult to sustain these price levels,” Ng says, adding that the property market in KLCC is very speculative. - Additional reporting by Khairie Hisyam Aliman

130418 (NST-Car In The Sky)

Monday 8 April 2013

BSP Skypark (General Description)

BSP Skypark at Bandar Saujana Putra

Tower 1 (411 units) Open for SALE NOW!
Tower 2 (266 units) Phase 2

Built-up: 1004sf
3 Bedroom and 2 Bathroom

Early Bird Incentives:
- Free Legal Fee on SPA and Disbursement
- 8% Rebate
- DIBS for 1st 100 units only
- Bumi Discount 7%
- Free 1 yaer Service Charges upon Vacant Possession
- 2 car parks

*** DOWNPAYMENT RM3000 ONLY!!

Facility:
- 3 Tier Security
- Swimming Pool, Jacuzzi, Wading Pool
- Sundeck
- BBQ Area and Green Space with Gazebos
- Cafeteria
- Reflexology
- Indoor and Outdoor Gymnasium
- Yoga, Game, Library room and Kindergarten
- Squash and Badminton Court
- Multi-purpose hall
- Children Playground
- Sundeck

Accessibility:
- ELITE, SKVE, KESAS, NKVE, LDP, MEX and North South Highways
- Within minutes to Petaling Jaya, Sunway ,USJ, Subang Jaya, Puchong, Seri Kembangan, Cyberjaya, Putrajaya

Final Selling Price (After discount and rebate) start from:
RM 342,155 (Bumi)
RM 367,908 (Non Bumi)

==============================================
Please call 012-2013449 ANGIE to arrange for personalized viewing of "SHOW UNIT".
** Owner are welcome to List **
==============================================

-- Please click below website for other properties
http://angiengproperties.iagent.my/
http://www.propwall.my/angiengproperties
http://angiengproperties.blogspot.com/

Thursday 4 April 2013

Lake Vista, Taman Tasik Prima - RM 570,000 (For Sale)

Lake Vista, Taman Tasik Prima - RM 570,000 (For Sale)

  Property Type   2.5 storey Terrace House
  Tenure   Leasehold
  Land Area Size   18 x 65 sf
  Built-up Size   2,032 sf
  Asking Price   RM 570,000.00
  Bedrooms   5
  Bathrooms   4
  Unit Type   Intermediate
  Occupancy   Vacant
  Furnishing   Unfurnished
  Facing Direction   North
  Facilities   Business Centre, Cafeteria,
  Covered Parking, Mini Market, Nursery
Property Features:-

2.5 sty terrace house for sale @ Lake Vista, Taman Tasik Prima (Resort Style Township)
-- LA: 18x65 sf, BU: 2032sf, 5r4b, well kept
-- 24 hours security guarded and gated with single entry
* GOOD for investment as under construction of LRT station will be 5min drive

* Good environment and good location
* Next to a serene lake with Lakefront jogging & cycling track
* Low density
* Near amenities
* Next to future developtment. The Wharf

- Easy access to LDP, PLUS, KESAS, NKVE, SKVE, ELITE highway
- Easy access to IOI shopping mall, Tesco, Giant, Carrefour, DHL, Commercial area and etc
- Easy access to Serdang, Putrajaya, Cyberjaya , shah alam , subang and etc

=============================================
** Please call 012-201 3449 Angie for viewing appointment. **
** Owner are welcome to List**
=============================================

-- Please click below for more properties to view:-
http://angiengproperties.iagent.my/
http://angiengproperties.blogspot.com/
http://www.propwall.my/angiengproperties

*** Owner are welcome to list ***

~Good Bargain, price negotiable