Property Hotspot: Semenyih and Kajang

The promise was made. When SP Setia announced two years ago that it bought nearly 1,700 acres in Semenyih of what used to be the Rinching and Abaco Estates, the spotlight immediately focused on this sleepy small town east of Kajang and Bangi.

Companies such as Tropicana Corporation Bhd, UEM Sunrise Bhd, Naza TTDI Group, Sime Darby Property Bhd and Ireka Corp Bhd, not to mention Kajang stalwart MKH Bhd, also launched or will launch projects here and in Kajang.

The anticipation surrounding SP Setia’s investment culminated in the recent sales preview of the first phase of houses in the Setia Eco Hill township. Buyers queued up with RM20,000 cheques overnight, and tickets for houses on offer were given out by noon. The 20’x65’ double-storey terrace homes were attractively priced from RM410,000 (from RM270 per sq ft). Also previewed were link semi-detached houses (linked at the side and back) and zero-lot bungalows priced from about RM700,000 to RM1.6mil.

“I got an SMS at 6.43am on Oct 11 to get a queue number, but by afternoon, I received another SMS stating that all queue numbers were distributed by 12.30pm,” said one disappointed property hunter.

A visit there reveals a nascent suburb completely different from its surroundings. A dedicated turn-off from Jalan Semenyih is graced by a sculptural entrance statement, while the approach is turfed with perfectly even carpet grass, crocus-like flowers and a good amount of evenly spaced trees.

“Setia Eco Hill will be the new Setia Alam,” a woman in her late 20s was overheard telling her friend at a Kuala Lumpur hospital recently. “You go out on weekdays, but on weekends, you stay in and it will be its own community.” The township will also have its own international school, though there are no news of a new shopping mall there.

One of China’s largest property developers, Country Garden, is also collaborating with Malaysia Land Properties Sdn Bhd (Mayland) to build a mini-township east of Semenyih. It will feature big houses, ranging from two-and-a-half-storey terrace houses to 8,522sq ft mansions, as well as novel ideas such as Spanish-style homes, a clock tower and as speculated, buyers from the mainland.

The company – Eco World Development Sdn Bhd – made up of former directors and executives of SP Setia, meanwhile, has bought over 1,000 acres of land near Setia Eco Hill and is set to launch early next year, according to industry sources. Prices for the cheapest double-storey terrace houses will apparently be around the RM500,000 mark.

Unsurprisingly, prices of existing, less famous developers now reflect the suburb’s upgraded status. Tiara East, on the way to the University of Nottingham campus, is completing 24’x70’ double-storey gated and guarded houses, which were first priced from around RM470,000 (about RM210 per built-up sq ft). Prices have risen to RM590,000 (about RM270 per sq ft) and above since.

For those living in established suburbs like Petaling Jaya and Shah Alam, Semenyih and Kajang are a distance from their communities. Kajang is 24km from, say, Parliament House in Kuala Lumpur while Semenyih is 35km away and about equidistant to Seremban.

For those who live closer to the south of the Klang Valley, this southern hotspot may just be the next commuter suburb for middle-class families preferring landed, gated and guarded townships.

Six reasons to invest in Semenyih/Kajang
1. New landed property launches under RM500,000 or RM300 per sq ft
Most launches for double-storey terrace houses are already around the RM500,000 mark although lesser known developers further south are still launching below RM350,000 in places such as Bandar Tasik Kesuma, near Setia Eco Hill.

However, don’t expect homes here to yield good rentals due to the distance from economic hubs.

2. Landed, gated and guarded projects
Having been mainly palm oil estates and industrial parks, Semenyih provides large tracts of land for landed, gated and guarded projects which offer planned infrastructure, security and lifestyle amenities.

3. Secondary landed homes under RM200,000
It is still possible to get basic but liveable freehold houses in Kajang and Semenyih for under RM200,000, in areas such as Bukit Mewah, Kajang Utama, Bandar Rinching and Taman Permai. It would be difficult to find any within that range in Cheras or Balakong.

4. The MRT
Due to be completed in 2017, the Sungai Buloh-Kajang MRT line will have three MRT stations in Kajang: Saujana Impian, Bandar Kajang and Jalan Reko.

5. Kajang-Seremban Highway (Lekas)
From Semenyih, the Lekas highway allows you to bypass Kajang town and much of Jalan Semenyih. Going to Mid Valley, for example, is almost one straight highway (with no stops short of the 90sen Grand Saga toll) although this will be congested during peak hours.

6. The hills are alive …
The hills around Broga are a lovely backdrop, almost making you break out into the theme song for The Sound of Music. It suggests a simpler life, far from the madding crowd.

I-Bhd invests more in property

I-Bhd is increasing its property investment portfolio to achieve its target of RM1bil in five years’ time.

It aims to have its property investment portfolio stand at RM1bil, with property development contributing some RM500mil to RM600mil.

Although the segment still remains smallish at only RM74mil to date, derived mainly from its data centre and 1,000 car parks, I-Bhd is proactively undertaking three key developments to reach its RM1bil goal.

The recurring income from its investment properties can be used to fund the i-City expansion, says deputy chairman Datuk Eu Hong Chew.

I-Bhd is in a joint venture with Thailand’s Central Group, to develop the RM580mil Central Plaza@i-City mall. Targeted for opening in 2017, the 1.5 million sq ft mall will be situated on a plot spanning 11.12 acres with a net leasable area of 1 million sq ft.

The company will reap some RM20mil from this deal over the next two years.

The mall will have 5,000 car park bays, which would translate into RM3.75mil in estimated monthly revenue.

The company is also working with Best Western International, the world’s biggest hotel chain to develop a three-star 216-room hotel with a gross development value of RM50mil.

Best Western will also manage its first service suite in Malaysia, namely Best Western Service Suite@i-City, by providing hospitality and building management service for 5+5 years.

I-Bhd is also constructing 6,500 car parks under its i-SoHo project, and is targeting to own 30,000 car park bays once the entire i-City project is completed in 2020.

Among other plans, is for another 400-room hotel, as well as a convention centre as part of the Central Tower development, which will be adjacent to the shopping mall.

Notably, it has already obtained approvals to subdivide part of the site meant for the mall construction, to begin the Central Tower development. The development has a GDV of RM1.2bil and an area of 1.6 million sq ft.

I-Bhd expects to see profit margins of 25% from the tower. The first phase of Central Tower will comprise two residential towers, which will be completed in 2019. The remaining two towers will comprise a hotel and offices.

Another hotel earmarked for the property investment segment will be the hotel under the iconic development The Jewel@i-City, which I-Bhd intends to launch in 2016.

TA Global to develop KLCC land

TA Global one of the largest landowners in the KLCC vicinity, is actively looking to embark on projects on some of the prime plots it owns.

According to a source, the company is looking to develop its 2.47-acre car park lot located across from KLCC into a five-star hotel cum serviced apartment project.

“The company is looking to develop a 60-storey building and plans to launch it later this year,” says a source, adding that ground works for the project are expected to commence in September.

The project, tentatively to be known as TA 3 and 4, has in fact been earmarked as a mixed commercial development strategically located along Jalan P Ramlee, Kuala Lumpur, just across the KLCC Twin Towers.

DTZ Nawawi Tie Leung executive director Brian Koh says the serviced apartments will definitely fetch premium prices given its location.

“It would depend how the company will position their products. Some serviced apartments are fetching close to RM2,000 per sq ft.

“The Four Seasons Place, for instance, is close to RM3,000 per sq ft.”

The Four Seasons Place is a 1.5 million sq ft integrated development owned by Venus Assets Sdn Bhd and is located next to the Petronas Twin Towers.

Given its prime location, one industry observer says he expects demand for TA’s proposed development to be good.

“If you look at The Four Seasons Place, around 80% of the residences have been sold since May last year,” he says.

According to reports, The Ritz-Carlton Residences located at the Jalan Sultan Ismail-Jalan Ampang intersection is priced at an average RM2,500 per sq ft.

According to TA Global’s annual report, TA 3 and 4 will comprise twin buildings that will house a five-star hotel and a branded serviced residences with a four-level podium of retail, food and beverage outlets and lifestyle facilities.

“According to the company, the building plans for this project was approved in February 2014 and the earthworks are expected to commence in the third quarter of this year once relevant building construction approval is obtained.

Upon completion, the project is expected to register a gross development value (GDV) of approximately RM1.4bil. The company is currently in negotiation with an international hotel chain to brand and operate the hotel and serviced residences.

TA Global recently also announced its proposal to develop a mixed-use development at the junction of Jalan Imbi and Jalan Bukit Bintang.

Located right in the heart of Kuala Lumpur’s Golden Triangle, to be known as Nova Square, the project is a 3.075 acres freehold mixed development that will consist of three towers of iconic lifestyle residences with the convenience of a retail podium.

Again, given the prestigious location, one industry observer says TA would be able to charge a good premium for the proposed project. “Properties such as Fairlane Residences are going for RM1,300 per sq ft while Pavilion Residences is fetching RM1,800 per sq ft,” she says.

According to TA Global’s annual report, Nova Square is accessible via the Smart Tunnel, Jalan Tun Razak and Jalan Ampang to other parts of Kuala Lumpur and Selangor.

The development order for this project is, however, still pending approval from the local authorities.

“Given the location of these projects, TA is in a good position to unlock the value of the landbanks that it has,” says an observer.

Another project that the company is undertaking is its mixed commercial and residential development, Damansara Avenue, in Petaling Jaya.

The development is sprawled over 48 acres of freehold land comprising of high end residences, retail outlets, lifestyle ofρces and malls which will be inter-connected by covered walkways, underground linkages and surrounded by parks and play areas.

“This integrated development is expected to fetch a GDV of approximately RM3.8bil over the next ten years,” the company says in its annual report. For its financial year ended Jan 31, 2014 (FY14), net profit rose 33% to RM123.90mil from RM93.43mil in the previous corresponding period, while revenue increased to RM692.44mil from RM638.02mil previously. The higher net profit was mainly contributed by finance and related services division due to significant loan recovery from financial receivables.

In its notes accompany its FY14 results, TA Global said it would continue to focus on its Damansara Avenue project and will be launching some new projects in the next financial year to sustain its earnings from the property development.

TA Global also has several projects overseas. It has a mixed development called The Gardens in British Columbia, Canada with a GDV of C$85mil (RM252mil). The project, which is currently under construction, is expected to be completed by the middle of this year.

Its other Canadian project is the Trump International Hotel & Tower in Vancouver.

The project, which has a GDV of C$496mil (RM1.47bil), comprises a 63-storey mixed-use development comprising of a luxury hotel tower with 147 hotel rooms, 218 high-end residential units, a 4-level podium and an eight-level underground car park.

The company is jointly developing the project with Canada’s Birkbeck Trust under a limited partnership arrangement. TA Global’s other hotel projects are the Radisson BLU Hotel in Sydney, Australia; Westin in Melbourne, Australia; Swissotel Merchant Court in Singapore; Aava Whistler Hotel in Whistler, Canada; Swissotel in Kunshan, China; and Moven pick Resort & Spa Karon Beach in Phuket, Thailand.

In its notes accompanying its FY14 earnings, the company said its hospitality business spanning across Singapore, Australia and Thailand is expected to continue to generate a stable recurrent income stream for the group.

“The growth and performance of our hospitality business in China and Canada in the next financial year will be driven and dependent on its country’s economic growth. We will continue to explore and evaluate opportunities to acquire new hotel properties to expand our existing hotels portfolio and to enhance the revenue contribution of our hospitality division,” it says.

Lim's grand design for Shah Alam

In 1993, Tan Sri Lim Kim Hong, the prolific entrepreneur better known as the Mattress King, bought 70 acres of plantation land in Shah Alam for RM4 per sq ft.

For 15 long years, that land remained dense, undeveloped and unmonetised. Lim bought the land just because he had money, but with no solid plan to develop it.

In the 90s, Lim was already an old hand in corporate Malaysia. Having made his first million at 18 selling woodwork, Lim had since delved into mattresses, electronics and the stainless steel business.

Lim was riding high from his mattress venture, being the founder of Dreamland Malaysia Bhd (now known as FACB Bhd). He famously cashed out his 55% stake in 1995 for RM350mil.

Diversifying his interest, he ventured into China where he set up a total of 14 factories there dabbling in stainless steel pipes, power plants and air conditioners.

In 1999, feeling bullish about the electronics business, Lim had via his vehicle Sumurwang Development Sdn Bhd acquired a controlling interest in Sanyo Industries (M) Bhd and changed its name to I-Bhd.

The competitive nature of the electronics home appliances business with its razor thin margins forced the company to call it a day and change its business direction.

That was when i-City was conceived in 2005 as a RM1.5bil township development.

Today, Lim has grand designs of turning the 70-acre i-City into a RM9bil ultrapolis complete with a theme park, ICT-related businesses and connectivity.

It isn’t all talk, as some 20% of the 70-acre development has been completed with its theme park now attracting 90,000 visitor arrivals on a weekly basis.

Lim’s latest project is the launch of his flagship The Jewel@i-City, an Athens-like building which he says will set a benchmark pricing of RM1,480 per sq ft for Shah Alam when it is launched in 2016.

“I never said I wanted to be the biggest developer in town, but I do want to be a chilli padi and make waves,” declares Lim.

For those who disbelieve that Shah Alam will ever reach the likes of KL City Centre, Lim says: “Do you know that in terms of infrastructure, Shah Alam is the best in Malaysia. Over time, you will see the multinationals move their offices to locations with better connectivity. We are strategic, 20 minutes from KL and 40 minutes to KLIA. With the completion of The Jewel@i-City, you will see even more migration to Shah Alam,” says Lim.

The RPT

As part of Lim’s vision to create his dream ultrapolis, I-Bhd announced a RM702mil fund-raising exercise in February, which consisted of rights, bonus issue, warrants and convertible stocks.

Significantly, it entailed a related party transaction (RPT) which involved Lim injecting his private land into the listed entity for 15 times its original purchase price.

I-Bhd would be issuing convertible securities amounting to RM502.3mil for two parcels of land in i-City and one parcel of land in KLCC. The remaining RM200mil rights issue was for investment in its shopping mall and working capital.

Via the RPT, Lim injected a total of 20.63 acres into I-Bhd for RM502.3mil. Some 19.58 acres were for i-City land, injected at RM60 per sq ft from his original cost of RM4 per sq ft in 1993.

Lim is quick to say that he is not at all cashing out of I-Bhd and is in fact reinvesting into the company.

“First of all, there was an agreement signed in 2005 between me and I-Bhd where it was stated that the landowner would only be entitled to the value of the land while profits will be accrued to I-Bhd. The payment of the land to the landowner is pegged to the sales collection so that I-Bhd will have better cash flow management,” he explains.

Lim’s private vehicles would only be paid based on the land price at that point in time.

Deputy chairman Datuk Eu Hong Chew says the agreement clearly states that the development of the land must come with a return of 23%.

“The landowner’s approach is to ensure that I-Bhd gets at least 23% return and historically he has agreed to a lower selling price for the land with reference to the market valuation to ensure I-Bhd achieves this target,” says Eu.

Lim adds that in 2005, the land price of i-City was in fact RM80 per sq ft according to land valuer Jones Lang & Wooten.

“We actually injected the land into I-Bhd at a 25% discount. Also, let me emphasise that instead of being paid money, I am being paid in convertible shares, a strong sign that I am reinvesting into my company,” says Lim.

I-Bhd is issuing Lim’s private vehicles with a combination of 5-year irredeemable convertible unsecured loan stocks and redeemable convertible unsecured loan stocks for a total of RM433.3mil.

Currently Lim, via Sumurwang Sdn Bhd and Sumur Ventures Sdn Bhd, owns some 79% of I-Bhd.

Lim’s relationship with Khalid

There are strong murmurs in the market of Lim’s handy relationship with Selangor Mentri Besar Tan Sri Abdul Khalid Ibrahim.

Afterall, Lim first purchased the 70 acres of I-City land in 1993 from Permodalan Nasional Bhd (PNB) when Khalid was its CEO. Khalid was CEO of PNB from 1979 to 1994.

Khalid’s support for Lim was again obvious when PNB became a 20% investor in Dreamland back in the 90s. At the same time, Dreamland was also made PNB’s investment vehicle to China, where it was almost routine for Lim to bring PNB officials and facilitated investment opportunities between PNB and China officials.

“Yes, Khalid and me have gone back a long way. I am grateful for all his help. However, to say that I-Bhd is dependent on the present administration is inaccurate. I am an entrepreneur with a big vision. There is a lot of effort required in what we do. We are selling properties to the public and we fund our own infrastructure,” he says.

Rumours put to rest

Lim puts to rest rumours that the RM55mil interchange which links the Federal Highway directly into his development was funded by the state government.

“The interchange linking the Federal Highway to i-City was half funded by I-Bhd, while the other half was funded by other developers in the area,” says Lim.

I-Bhd will be investing an additional RM35mil in i-City infrastructure. This does not just benefit our development, but the surrounding areas in Shah Alam,” adds Lim.

The entire Shah Alam will be get

ting a boost in terms of connectivity with the proposal to build a light rail transit (LRT) line from Glenmarie to i-City, and link it to the mass rapid transit (MRT) in Sungai Buloh, Selangor.

News reports have indicated that the main stations will be in Glenmarie, Stadium Shah Alam, i-City, UiTM, Bandar Baru Klang, South Port and Bandar Sultan Sulaiman.

The LRT 3 is going to be 30 km-34 km with projected ridership of 22,000 passengers per hour per direction.

“Have you seen what has happened whenever the LRT or MRT experience happens in other parts of the world like Singapore and Hong Kong? Property prices appreciate significantly and businesses mushroom all around the area. The LRT would definitely fast-track our ambitions to rouse Shah Alam,” says Lim.

For its first quarter to March 31, 2014, net profit grew 23.9% to RM6.1mil on the back of a 65% increase in revenue to RM44.9mil.

Property development was its biggest contributor at 73% while the leisure segment contributed 21.3%. The remainder came from property investments.

The property development revenue of RM32.7mil was more than double its previous revenue of RM14.4mil.

Eu says that with RM400mil of unbilled sales as of end-December 2013 and RM1.6bil of launches for 2014, I-Bhd is on target to generate annual revenues of RM500mil for its property development sector over the next two to three years.

Out of its RM9bil worth of development, i-City has a further RM6.5bil to be launched from the balance of land.

Lim says he never planned to introduce the theme park concept into I-Bhd. When he first proposed the idea, it was more of a “online enhancement” project to attract people to I-City.

“My team disagreed with me. So did Datuk Eu!” laughs Lim.

“They felt spending RM10mil to light up the place was a bad idea. All I wanted to do was attract the crowd here. And initially it was free,” he said.

So, RM10mil was invested, and the City of Digital Lights with its million LED lightscapes was first unveiled to the public in December 2009.

“We were pleasantly surprised when visitors started posting pictures of their visits on Facebook and YouTube. A year later when we started charging people, and visitors still came. That was when we decided that the theme park model was workable,” says Eu.

买卖房屋应负的责任

时代不断在变换，科技瞬息万变，税收局为了与时并进，早已推行了电子报税系统。

在科技的协助下，税收局要取缔逃税者已是轻而易举的事。因此，身为精明的纳税人在规划税务，省税的同时，更要履行纳税人的责任，避免任何不必要的罚款。

房地产投资者除了得掌握产业盈利税有关的计算法，更应该懂得投资房地产而应履行缴税的责任。

从脱售长期持有的房地产中获利，个人是有责任向税收局呈报。不过，若没有从中获利，甚至是亏损的话，是否还需要向税收局呈报有关房地产的脱售呢？

相信此问题是许多房地产买卖者心中的问号。

卖家的责任

在现有的产业盈利税法下，无论房地产脱售是盈是亏，抑或是没有盈亏，卖家和买家双方都必须将这笔交易呈报给税收局。

脱售房地产后，卖家必须在脱售日起60天内（或经由书面申请获认可的时限内），呈报CKHT1A表格给税收局，而买家则得呈报CKHT2A表格。收到CKHT1A表格后，税收局会发出通知书给卖家。

若卖家应缴付的产业盈利税（net RPGT payable）比买家应保留款额少，那么，卖家就得在收到税收局的通知书后，30天内缴付仍欠的产业盈利税，同时一并填写CKHT501表格。

相反的，若卖家应缴付的房地产盈利税比买家应保留款额多，税收局就会将多交的款额退还给卖家。

若是有关交易卖家没有获利，或无需被课征产业盈利税，卖家必须呈报CKHT3表格给税收局，让税收局知道他不会就有关产业脱售而被课征产业盈利税。此CKHT3表格必须在呈报CKHT1A表格时一起呈报给税收局。

同时，他也必须在脱售日起60天内，将CKHT3的副本交给买家，通知买家无需“扣出”购买房地产所支付的款额之2%（详情看下段）。

此项规定是政府在2013年财政预算案内公布；在新的产业盈利税法令下，卖家有了更多的责任。

买家的责任

自2010年1月1日起，征收产业盈利税的责任落在买家身上。

买家需“扣出”购买房地产所支付的款额之2%（简称为“应保留款额”），并在购买房地产后不超过60天内，缴付给税收局。

买家在缴付应保留款额时，应填写CKHT502。

违反此规则的买家将会被罚款应保留款额的10%。

税收局有权力对违反此例的买家，控于民事诉讼，以取得该买家一共欠下的款额（应保留款额+罚款“应保留款额”的10%）。

若买家因收到卖家出错的CKHT3表格，而没有“扣出”应保留款额，卖家则会被罚款高达应缴产业盈利税的10%。

与其他税法合为一体

自2008年1月28日起，当卖家有拖欠产业盈利税、所得税或石油税，税收局有权力在退还卖家多付的产业盈利税之前，先用来抵销他所欠的税款（之前的产业盈利税、所得税、石油税）。

同样的，当纳税人有多付的所得税或石油税，税收局在退还给他之前，也会先用来抵销他所拖欠的产业盈利税。

可见，纳税人应该准时缴清所有税款，那么在退税时才不会有麻烦。

范例
持房产逾5年

佳佳在2013年2月1日将持有了6年的双层排屋卖出，并从中获利。

由于佳佳已持有该排屋超过5年，因此有关的盈利是无需被课征产业盈利税。

佳佳必需在2013年2月1日起60天内，通过CKHT3表格通知税收局和买家有关产业脱售无需课征产业盈利税。

呈报纪录需保存7年

在1950年的证据法下，电子记录、副本以及印刷出来的电子记录也可以成为文件记录式的证据。

个人若是通过电子报税系统呈报产业盈利税，有关的电子文件记录也都必需保存良好至少7年。

在税务稽查时，这些电子文件记录也属于证据。

违者需呈有力理由

违反此例的买家必须提供有力的理由向内陆税收局证明，才有可能减低/免除罚款。但即使罚款也可以减少，甚至是免除，应保留款额还是得准确地缴上，不能获得减少。

Nilai Seremban Corridor

Semenyih Beranang Corridor

成本激增 隆雪屋价料涨10%

隨著建筑材料及运输费高涨，已衝击屋价市场，隆雪屋价于下半年料將有新一波涨势，涨幅介于5%至10%！

今年的建材原料包括钢铁、洋灰、红砖等相继涨价，房產价格势必受到衝击，无形中將导致屋价隨之走高涨价。

大马房地產发展商会（REHDA）前会长拿督黄腾亮指出，隨著建筑原料涨价，佔每间房屋建造费约40%，加上运输费和人工费30%，扣除超过70%成本，发展商平均每出售一间房屋，赚头並不高，逼不得已下唯有调高屋价。

他以雪州人口最密集的巴生为例，这里整体屋价市场虽然比吉隆坡、八打灵再也等地稍微便宜，但也属数一数二高价地区，在新兴屋业发展地区，平均一间双层排屋的价格介于60万令吉以上，比较其他乡镇地区的屋价，几乎是翻倍。

「巴生屋价近年一直高企不下，只有走高没有减低，许多人对高屋价皆喊吃不消，感嘆没有能力买屋。如今，再受到建筑材料涨价，迫使屋价將会再涨，要买屋也將是难上加难。」

「下半年涨潮相信会影响到新屋业发展地区，包括中路武吉拉惹、实达阿南、加埔富豪苑、武吉丁宜第3区等。」

吁消费者把握时机

他估算，价格介于60万令吉的双层排屋，涨幅5%至10%，相等涨价3万至6万令吉。

他进一步指，消费税（GST）將于明年4月落实，届时势必再有一波建材原料涨价，换言之，明年下半年的屋价市场也將会引起另一波涨潮。

他说，消费者应把握时机，在明年4月消费税落实前买屋，否则明年料再有的另一波屋价涨高，要完成买屋梦想將更难实现。

鼓励购买旧区二手屋

发展商拿督萧楚釵受访时认为，不仅巴生，隆雪屋价也將隨之建筑成本的增加而有所调涨，平均涨幅不会超过10%，但地点和环境较佳的屋业则「有条件」调高到15%。

他指出，屋价调涨的原因，是在于如今建筑成本不断增加，进而加重屋业发展的开销。

不过，他也说，屋价的涨幅亦视乎银行所批准的贷款而定，同时存在「卖不卖得出」的考量。

「无论如何，隆雪一带的屋价涨幅都相差不远，平均不会超过10%，但环境较佳的地区则有可能调得更高，约达15%左右。」

「例如，一些环境好，又附有保安与围篱社区的住宅设计，让人们可以住得更为舒適和安心，屋价的涨幅也相对地可以拉得更高。」

另外，黄腾亮鼓励巴生人考虑购买与新屋价格相差30-60%不等的旧区二手屋，省下的买屋差价可重新装修，一样可以打造舒適的屋子。

他说，巴生许多旧区的二手房屋都在出售，旧区房屋的建筑结构不比新屋差、房屋尺寸也不逊于新屋，加上屋价比较稳定，不会像新屋般持续走高。

他点出环境不错的旧区，像永安镇、卫星市、百家利花园、直落玻璃、南方镇、池龙花园、八打灵花园等，都是居住环境相当完整的地区。

他指，除了旧区二手屋，也可以考虑购买拍卖屋子，只要查证屋子背景「清白」，拍卖屋子也是一项不错的选择。

Eco World unveils RM20.8bil projects

It launches three townships and first business park

(From left) Eco World COO Datuk Sundarajoo Somu, Chang, director Tan Sri Liew Kee Sin, director Tan Sri Lee Lam Thye and executive director Liew Tian Xiong at the projects preview .

KUALA LUMPUR: Eco World Development Group Bhd yesterday held a simultaneous preview of three new development projects in the Klang Valley and Iskandar Malaysia and its first business park in Iskandar with a total gross development value (GDV) of RM20.8bil.

The group’s first township in the Klang Valley is called EcoMajestic in Semenyih spanning some 1,089 acres with a GDV of RM11.14 bil while in the Tebrau corridor the developer launched Eco Spring and Eco Summer, a 613.8-acre mixed development with a combined GDV of RM5.87bil.

The developer also previewed its first Business Park called Eco Business Park I, which aims to take the concept of green full-serviced business parks to another level.

“The support we received for our first two project launches – EcoBotanic in Nusajaya, Johor and EcoSky located off Jalan Ipoh in Kuala Lumpur – has given us the confidence that there is strong demand for our properties,” said Eco World president and CEO Datuk Chang Khim Wah in a statement.

He explained that the ability of a property developer to deliver a strong and sustained growth was dependent on several factors which included the size, location and quality of its land bank, diversity of product offerings as well as its execution capability.

“For our first two projects, we received overwhelming response from local purchasers given that our initial launch products were targeted at the end-user market. In Iskandar Malaysia we have an increasing number of Singaporean customers and our business park will cater to the tremendous interest from SMEs and MNCs seeking to establish business here. We expect this trend to continue with demand growing at both the local and international level as the Eco World brand becomes more established in Malaysia and regionally,” he added.

The atmosphere at the launches was buzzing with more than 2,000 people gathering at the developer’s sales galleries in the Klang Valley and Johor Baru.

In the Klang Valley, many of EcoMajestic’s purchasers were impressed with the concept of the project as the township is the first in the Klang Valley of this size that has been planned from the onset as a fully strata titled gated and guarded development. The first launch of EcoMajestic will see the developer offering 612 units of terraced homes with varying sizes priced from RM586,000 onwards.

In Johor, the unveiling of the first phase of EcoSpring and EcoSummer with approximately 600 units in total available for sale attracted many young families and upgraders looking to live in a well-planned township.

To date, Eco World’s first two projects – EcoBotanic and EcoSky – had achieved a combined total sales of RM1.13bil as at March 31, 2014. The developer recently announced its sales target of RM2bil for the financial year 2014 (FY14) and RM3bil for FY15.

The group has another five projects still to be unveiled, namely EcoSanctuary in the Klang Valley, the newly-revamped EcoTropics, Eco Business Park II and Eco Business Park III in Iskandar, as well as EcoMeadows on mainland Penang. With all these projects, the group will be kept very busy over the next few years.

依斯干达特区续领风骚

去年，我国建筑领域增长主要由住宅产业带动，其中柔佛产业发展活动最蓬勃。

由依斯干达特区产业迅速发展带动，柔佛不仅受到本地发展商关注，还吸引中国发展商前来抢滩，成交表现尤其亮眼。

这个未来国际大都会的房地产走势，去年甚至超越了雪隆区。

今年，柔佛或依区能否继续一马当先？

去年成交劲扬52.7% 柔州房产续领风骚

去年，我国建筑领域增长率较2012年的18.1%显著放缓，但主要在住宅建筑活动带动下，仍取得10.9%增长。

财政部房产估价及服务局（JPPH）旗下国家产业资料中心（简称NAPIC）最新数据显示，巴生谷、槟城和柔佛的公寓和高档产业建筑活动，是去年建筑领域增长的支柱。

当中，柔佛去年的产业交易量占按年增7.1%，成交总值却劲扬52.7%，再再反映了该州的房产动力。

根据NAPIC的房地产报告，去年，整体产业市场增长动力虽放缓，交易量按年下滑10.9%，不过交易值则按年微扬6.7%。其中柔佛州的产业活动蓬勃，表现最亮眼。

比较国内其他主要城市，柔佛的房价增长率最高，达63.2%。

NAPIC数据显示，去年，全国共有38万1130项房产交易，成交总值达1523亿7000万令吉；2012年则有42万7520宗，交易值为1428亿4000万令吉。

柔佛的产业交易量就占了5万2779宗，较2012年4万9296宗，按年增7.1%。

住宅商务交易激励

柔州的房产成交总值则从167亿6581万令吉，劲扬52.7%至301亿0684万令吉，主要受到住宅、商务和发展土地的交易激励。

NAPIC的报告中也指出，今年内，柔佛州产业将持续乐观，因为产业价格将维持稳健水平。

该局预计，依区亮眼的发展趋势，将可持续吸引更多投资者，其中玛迪尼（Medini）A区和B区的住宅产业尤其公寓供应会增加；商务产业也会受到带动。

房产咨询公司威廉氏、达哈与王私人有限公司（CH WilliamsTalhar&Wong，简称WTW）也指出，去年，新山产业市场持续吸引投资者眼光。

依区截至去年10月，共取得达493亿令吉投资额，占该区自2006年推介以来，累积达1294亿令吉投资额中的38%。

绿盛世倒置收购受关注

2013年，新山房产市场的活动可说是国内最炙热，迎来了多项大型的投资交易，其中最受关注的事项有绿盛世（ECOWLD，8206，主板产业股）倒置收购活动。

绿盛世前身为富阁苑（FOCAL），由Eco World发展有限公司与丹斯里刘启盛之子刘添雄，以每股1.40令吉收购65.05%股权后，借壳上市。

富阁苑原本市值为2亿3000万令吉，在巴西古当和雪兰莪拥有地库。

而倒置收购活动前，Eco World曾以5亿3470万令吉购买柔佛613.7英亩的土地。

其他主要产业活动包括马星集团（MAHSING，8583，主板产业股）也宣布以逾4亿1100万令吉，收购巴西古当面积约1352英亩的永久地皮；怡保花园（IGB，1597，主板产业股）在新山，占地200万平方尺的Southkey美佳广场发展计划。

名校进驻刺激经济

多家名校入驻依区EduCity，为当地制造庞大的人口。

EduCity至今吸引了大马纽卡索医药大学（Newcastle University Medical Malaysia）、荷兰海事技术学院（Netherlands Maritime Institute of Technology）、大马马尔波罗学院（Marlborough Collage Malaysia）及依斯干达莱佛士大学（Raffles University Iskandar）。

该些高等学府的进驻，料进一步激励柔佛州的经济和产业市场活动。

此外，昔加末、居銮好和甘拔士（Kempas）将受惠于双轨火车工程；公共交通提升，将激励相关地区的经济和产业发展活动。

住宅单位最热

根据NAPIC，柔佛截至去年第四季，住宅产业增长率达16.6%，且产业领域即将完成的供应中，住宅产业最多，达11万8191单位。

同时，已规划好，即将兴建的住宅产业达16万8371单位；现成住宅产业达70万5329个单位。

此外，去年新推介的住宅产业达1万161个单位，按年增长13.4%，4483个单位已被认购。

销售表现也达44.1%，较2012年的43.6%好。

柔佛新推介的产业中，排屋最多，占42.8%，包括1135个单层排屋，3209个双层和3层排屋。

滞销单位少过1%

在购屋者热烈追捧下，去年柔佛州的滞销单位保持温和增长。

滞销单位从2012年的3552单位，微增加至2013年3578个单位，总值7亿1915万令吉，占产业总数少过1%。

惟随着产业价值上涨，滞销产业的价值也按年增8.6%。

兴建中，未出售的产业单位增加至1万1807个单位，按年增27.8%；未出售，且未建筑产业则达3170单位，上扬13.9%。

中国发展商抢滩

柔州产业魅力不仅在国内，也吸引来自中国的发展商，碧桂园、绿地、富力、新华联等中资发展商已陆续进军大马。

广州富力地产（Guangzhou R&F Properties）以45亿令吉向柔佛苏丹依布拉欣殿下购买新山市中心116亩的地段作商业发展项目。

碧桂园金海湾还举行“环球缤纷嘉年华”，推销旗下9000个公寓单位和占地100万平方公尺的商业中心。

另外，尽管柔佛州政府限制外国人购买100万令吉房产措施落实，并调高外国购房者手续费，由1万令吉改为缴付相等于房价2%手续费。

业界认为，外国卖家仍积极进军新山房产市场，未受影响。

将建约12万有地房产

随着新推介项目增加，新的有地产业供应将持续扩大。

去年内，柔佛州完成的有地产业达1万812单位；即将竣工有地产业则达6万319单位。

同时，NAPIC报告指出，已获得核准有地产业发展达11万9509单位。

另一方面，WTW报告显示，柔佛州双层排屋平均二手价为每平方尺240令吉，去年的交易价较2012年增长15%。

新山最早期的住宅区之一，彩虹花园的屋价已达每平方尺230令吉，百万镇与柏伶花园的平均售价则为每平方尺190令吉和160令吉。

数据显示，新兴屋业计划如五福城和浩然山庄（Horizon Hills），双层排屋的二手价，也达到每平方尺450令吉和325令吉。

围篱保安住宅热卖

在新山，围篱保安住宅俨然成为新的居家生活趋势。

双层半独立式洋房价也随着大幅增长，二手价可达每平方尺600至800令吉。

East Ledang2012年时，平均售价为每平方尺600令吉，去年已增长至700令吉；浩然山庄则从2012年每平方尺430令吉，大幅涨至700令吉。

新山一带于去年上半年推出的半独立洋房，价格介于每平方尺280至410令吉；古来一带的半独立式洋房售价则为每平方尺200令吉。

WTW报告也指出，靠近马新第二通道的Leisure Farm和Ledang Heights的半独立式洋房，售价分别从每平方尺50令吉至70令吉，和每平方尺70至120令吉起跳。

公寓如雨后春笋

在发展最蓬勃的住宅产业领域中，WTW却指出，公寓也是最热门的产业项目，去年共有超过1万8000个新单位推介。

一些位于黄金地段如金海湾、公主港和马迪尼的产业已突破每平方公尺1000令吉水平，平均售价飙涨至目前每平方尺700至1200令吉。

同时，认购率介于60%至100%。

WTW预计，柔佛新山未来1至3年内，公寓单位供应将增加2万5673个，兴建中单位占新山现有公寓数目的85%。

NAPIC资料则显示，去年，柔佛州内有1376单位服务式公寓和公寓单位竣工，即将完工的单位则达3万1659单位。

同时，新获得核准的新服务式公寓和公寓发展项目，共达4万9478单位。

公寓二手价也上涨

WTW指出，公寓单位二手价，从2012年每平方尺350令吉，涨至去年每平方尺400令吉。

数据显示，靠近新山中央医院的SriSamudera公寓，二手价最近创新高，每平方尺达540令吉。

其次是武吉英达新建竣Sky豪华公寓，二手价为每平方尺490令吉，及百合花园MolekPine公寓，二手价为每平方尺450令吉。

商务产业投资炙热

在活跃的经济活动带动下，加上产业投资炙热，去年柔佛州商务产业增长率达9.7%。

即将完成店铺达1万3884单位、工业产业则达1144单位；已获准店铺发展项目达1万4946单位，工业产业达3492单位。

但根据NAPIC报告，柔佛办公楼发展项目出现放缓迹象。去年，即将完成的办公楼有9座，可租用面积达9万7243平方米，但新获准办公楼发展计划为零。

所幸去年完成的2座办公楼，可租用面积达1万6540平方米，租用率达100%。

截至去年，柔佛办公楼有205座，总面积达102万5335平方米，达78万5934平方米出租面积，出租率平均为76.7%。

商场零售单位料稳升

商场的零售单位需求在今年预料会稳健攀升，在新山市中心商场内的黄金零售单位，租金每月介于每平方尺15至70令吉。

WTW报告指出，新山城中坊是目前商业单位租赁价最高的商场，黄金地点租金每平方尺达40至70令吉，相较于其他商场如淡杯安莎娜广场、五福城广场的首要单位，租金介于每平方尺15至20令吉。

商场的零售单位租赁率在2013年依然保持在70%以上；总供应维持在1330万平方尺，包括购物中心和霸级市场。

随着州内第四间永旺购物商场在古来投入运作，面积占地18英亩，提供可租赁的单位空间达45万7800万平方尺。

新山市中心的敦拉萨大厦（KOMTAR）重建项目预料在明年完成，Southkey Megamall广场则预料在2016年竣工。

东南亚首座“愤怒鸟”主题乐园已敲定正式落户在前身为KOMTAR的新山城市中心广场（JBCC），占地2万6000平方尺。”

二手交易市场内，新山假日广场底层零售单位成交价格，介于每平方尺1500至2400令吉；上层楼面零售单位，每平方尺介于370至460令吉。

五星酒店住客率最高

去年，新山有3间国际酒店开业，分别是公主港商贸酒店（Traders Hotel）、玛迪尼的大马乐高乐园酒店（Legoland）及百万镇的万丽酒店（Renaissance）。

这些新酒店共提供877间房间，平均房价300令吉；乐高乐园酒店房价则高达620令吉。

新山三至五星级酒店，共22间，达6434间客房。

五星级酒店有5间（2329间客房）、4星级酒店共7间（1914间客房），及三星级酒店10间（2191间客房）。

平均房价分别是230令吉（五星级）、190令吉（四星级）及105令吉（三星级）。

五星级酒店住客率最高，达72%，四星级和三星级分别是68%和63%。

WTW预计，希尔顿逸林酒店（Hilton Double Tree）2015年竣工后，客房数量将再增加。

办公楼需求稳定

WTW预计，今年的办公楼租赁率继续保持平稳，因2013年的新山办公楼需求稳定，空置率仅约25%。

黄金地段的办公楼每月租金每平方尺介于2.80至3.50令吉；市郊租金则介于1.80至2.80令吉。

二手交易量仍占少数，去年的交易价稍有微升，介于每平方尺230至350令吉，2012年则是每平方尺介于200至300令吉。

新山现有的办公楼单位供应维持在870万平方尺，111栋办公楼当中有70%是私人持有建筑物，其余则属政府拥有。

努沙再也厂房最吃香

WTW预计今年内，柔州厂房需求备受看好，尤其是古来、泗隆、努沙再也和巴西古当的工业地段。

努沙再也最吃香，工业房地产区域强劲的需求，推高二手价。

柔南工业及物流中心（SiLC）厂房售价从2012年每平方尺介于35至60令吉，跃升至每平方尺55至75令吉。

马星集团发展的工业园———“i-Parc”，半独立式多功能厂房成交价涨至每平方尺310令吉，2011年售价是每平方尺270令吉。

森那美去年成功以每平方尺介于50至55令吉价格，脱售位于巴西古当的工业地。

Six toll roads costing RM20bil on the cards

At least six toll roads offering construction jobs worth RM20bil are coming on stream in the next 18 months.

Two of them, the RM5.04bil West Coast Expressway (WCE) and the RM1.18bil extension of the Duta-Ulu Kelang Expressway or Duke (pic), have achieved financial close, indicating that work on the project is to start within months.

The other highways being firmed up are the RM2.5bil Kinrara-Damansara Expressway (Kidek), the RM4.18bil Sungai Besi-Ulu Kelang elevated expressway (Suke), the RM4.3bil Damansara-Shah Alam Expressway (Dash) and Ahmad Zaki Resources Bhd’s East Klang Valley Expressway.

“The construction works for all the highways should be up and running by next year,” said a construction industry official.

However, it isn’t party time for every construction company as the lack of resources and lower margins may render some of these jobs less profitable.

While on the surface, construction players may cheer at the huge amount of work that await them, the scale of these projects may be too much for them to handle.

Only big players like Gamuda Bhd and IJM Corp Bhd, who are frontrunners for jobs like the Mass Rapid Transit (MRT) Line 2 and the West Coast Expressway (WCE) jobs will be obvious beneficiaries, said the construction industry official.

For mid-tier players such as WCT Holdings Bhd, Gadang Holdings Bhd, Bina Puri Holding Bhd, TRC Synergy Bhd, Mitrajaya Holdings Bhd, Kimlun Corp Bhd and many others, it will be no walk in the park.

Competition among mid-tier players is intense, and only those who are able to efficiently manage their cost will reap the benefits from the massive artery of highways.

“Margins for civil works are at the 5%-7% level for government jobs, which nowadays is more of a norm than an anomaly,” said one construction player who is looking to bid for a few jobs in the second half of the year.

“Within the sector, we are all aware of many jobs that will be open for tender soon. It is not just the highways. We are busy now preparing our documentation and tenders,” he said.

“The Klang Valley aside, immense construction works in the Iskandar Development Region is taking place at full steam. Demand from both these regions have started to incur huge cost pressures to the sector as a whole,” he lamented.

Under these circumstances, the mid-tier players in particular, will need to be extra careful in costing their projects.

“Yes it is a given that margins moving forward will be thinner. The less efficient players will suffer,” said another contractor from a mid-sized construction player.

“It is competitive, but we rather have this situation, than no work at all. I believe there will be enough work to go round for all,” he said.

He added that thanks to the construction of the RM20bil MRT and the ongoing RM7bil Kelana Jaya and Ampang Lines LRT extension projects. many construction players were already sitting on plump order books.

Thus, if an upcoming contract offered margins that were too thin, he doesn’t foresee many takers.

Construction insiders said that the level of interest for Duke and WCE has been varied.

The expansion of the Duke is expected to add two more links to Sri Damansara and Jalan Tun Razak by 2016.

As for IJM Corp Bhd’s 38%-owned RM5.04bil WCE, it has supposedly generated strong interest within the sector.

The WCE is to be constructed by a consortium comprising Kumpulan Europlus Bhd and IJM Construction Sdn Bhd.

Sources said that subcontractors were lining up in the IJM office looking to submit their tenders for the WCE.

“With IJM being a Grade A contractor and having a strong balance sheet, its ability to make payments will be a whole lot more secure. That’s one reason for the buzz,” said one construction analyst.

The guidance for contractors is that they can enjoy margins between 6% to 8% for the WCE.

On that note, the analyst expects the awarding of tenders to be disclosed next month onwards as IJM has guided for construction works to begin in the third quarter.

Sources said that Permodalan Nasional Bhd, which is constructing Suke and the Dash has been knocking at the doors of some of the bigger construction players, checking for their availability and keenness in taking up these jobs.

The Dash is estimated to cost RM4.18bil. The planned highway begins from Puncak Perdana U10 off Jalan Batu Arang and terminates at the Penchala Link with access to both the Sprint Highway and the Damansara-Puchong Expressway (LDP).

The RM4.3bil Suke is a proposed 31.8km, elevated three-lane carriageway that will begin from the Sri Petaling Interchange (near the Bukit Jalil Stadium) and will run through Sungai Besi and Alam Damai.

“Construction players aren’t exactly lining up to accept government jobs. The cost of construction is getting higher and margins are increasingly becoming squeezed. Should there be delays or cost overruns, there will be no compensation from the government,” said one observer.

Another highway which has many of the players excited is the RM2.5bil Kidex which sources say should be achieving financial close very soon.

A construction analyst said that it would be the timing of these tenders that would determine whether players were able to bid for them.

產业经纪佣金怎样算？

根据標准的经纪抽佣架构，產业售价首50万令吉抽3%、50万以上至100万令吉收2%，超过100万令吉双方可以协商。

產业价格如果高达1千万令吉，佣金的抽取甚至可低於2%，视卖主与经纪商洽谈的成果。

他举个例子，假如產业价格60万令吉，首50万令吉经纪抽佣3%，另外10万令吉则是2%，以此类推。

提到能否降低经纪抽佣的百分比，这要看卖主如何与经纪洽谈。洽谈取得成果，如果能有文件说明是经双方商谈达致的结果会比较好。

Kajang: New Interchange to Bangi

依斯干达特区 还能一马当先？

去年，我国建筑领域增长主要由住宅产业带动，其中柔佛产业发展活动最蓬勃。

由依斯干达特区产业迅速发展带动，柔佛不仅受到本地发展商关注，还吸引中国发展商前来抢滩，成交表现尤其亮眼。

这个未来国际大都会的房地产走势，去年甚至超越了雪隆区。

今年，柔佛或依区能否继续一马当先？

去年成交劲扬52.7% 柔州房产续领风骚

去年，我国建筑领域增长率较2012年的18.1%显著放缓，但主要在住宅建筑活动带动下，仍取得10.9%增长。

财政部房产估价及服务局（JPPH）旗下国家产业资料中心（简称NAPIC）最新数据显示，巴生谷、槟城和柔佛的公寓和高档产业建筑活动，是去年建筑领域增长的支柱。

当中，柔佛去年的产业交易量占按年增7.1%，成交总值却劲扬52.7%，再再反映了该州的房产动力。

根据NAPIC的房地产报告，去年，整体产业市场增长动力虽放缓，交易量按年下滑10.9%，不过交易值则按年微扬6.7%。其中柔佛州的产业活动蓬勃，表现最亮眼。

比较国内其他主要城市，柔佛的房价增长率最高，达63.2%。

NAPIC数据显示，去年，全国共有38万1130项房产交易，成交总值达1523亿7000万令吉；2012年则有42万7520宗，交易值为1428亿4000万令吉。

柔佛的产业交易量就占了5万2779宗，较2012年4万9296宗，按年增7.1%。

住宅商务交易激励

柔州的房产成交总值则从167亿6581万令吉，劲扬52.7%至301亿0684万令吉，主要受到住宅、商务和发展土地的交易激励。

NAPIC的报告中也指出，今年内，柔佛州产业将持续乐观，因为产业价格将维持稳健水平。

该局预计，依区亮眼的发展趋势，将可持续吸引更多投资者，其中玛迪尼（Medini）A区和B区的住宅产业尤其公寓供应会增加；商务产业也会受到带动。

房产咨询公司威廉氏、达哈与王私人有限公司（CH WilliamsTalhar&Wong，简称WTW）也指出，去年，新山产业市场持续吸引投资者眼光。

依区截至去年10月，共取得达493亿令吉投资额，占该区自2006年推介以来，累积达1294亿令吉投资额中的38%。

绿盛世倒置收购受关注

2013年，新山房产市场的活动可说是国内最炙热，迎来了多项大型的投资交易，其中最受关注的事项有绿盛世（ECOWLD，8206，主板产业股）倒置收购活动。

绿盛世前身为富阁苑（FOCAL），由Eco World发展有限公司与丹斯里刘启盛之子刘添雄，以每股1.40令吉收购65.05%股权后，借壳上市。

富阁苑原本市值为2亿3000万令吉，在巴西古当和雪兰莪拥有地库。

而倒置收购活动前，Eco World曾以5亿3470万令吉购买柔佛613.7英亩的土地。

其他主要产业活动包括马星集团（MAHSING，8583，主板产业股）也宣布以逾4亿1100万令吉，收购巴西古当面积约1352英亩的永久地皮；怡保花园（IGB，1597，主板产业股）在新山，占地200万平方尺的Southkey美佳广场发展计划。

名校进驻刺激经济

多家名校入驻依区EduCity，为当地制造庞大的人口。

EduCity至今吸引了大马纽卡索医药大学（Newcastle University Medical Malaysia）、荷兰海事技术学院（Netherlands Maritime Institute of Technology）、大马马尔波罗学院（Marlborough Collage Malaysia）及依斯干达莱佛士大学（Raffles University Iskandar）。

该些高等学府的进驻，料进一步激励柔佛州的经济和产业市场活动。

此外，昔加末、居銮好和甘拔士（Kempas）将受惠于双轨火车工程；公共交通提升，将激励相关地区的经济和产业发展活动。

住宅单位最热

根据NAPIC，柔佛截至去年第四季，住宅产业增长率达16.6%，且产业领域即将完成的供应中，住宅产业最多，达11万8191单位。

同时，已规划好，即将兴建的住宅产业达16万8371单位；现成住宅产业达70万5329个单位。

此外，去年新推介的住宅产业达1万161个单位，按年增长13.4%，4483个单位已被认购。

销售表现也达44.1%，较2012年的43.6%好。

柔佛新推介的产业中，排屋最多，占42.8%，包括1135个单层排屋，3209个双层和3层排屋。

滞销单位少过1%

在购屋者热烈追捧下，去年柔佛州的滞销单位保持温和增长。

滞销单位从2012年的3552单位，微增加至2013年3578个单位，总值7亿1915万令吉，占产业总数少过1%。

惟随着产业价值上涨，滞销产业的价值也按年增8.6%。

兴建中，未出售的产业单位增加至1万1807个单位，按年增27.8%；未出售，且未建筑产业则达3170单位，上扬13.9%。

中国发展商抢滩

柔州产业魅力不仅在国内，也吸引来自中国的发展商，碧桂园、绿地、富力、新华联等中资发展商已陆续进军大马。

广州富力地产（Guangzhou R&F Properties）以45亿令吉向柔佛苏丹依布拉欣殿下购买新山市中心116亩的地段作商业发展项目。

碧桂园金海湾还举行“环球缤纷嘉年华”，推销旗下9000个公寓单位和占地100万平方公尺的商业中心。

另外，尽管柔佛州政府限制外国人购买100万令吉房产措施落实，并调高外国购房者手续费，由1万令吉改为缴付相等于房价2%手续费。

业界认为，外国卖家仍积极进军新山房产市场，未受影响。

将建约12万有地房产

随着新推介项目增加，新的有地产业供应将持续扩大。

去年内，柔佛州完成的有地产业达1万812单位；即将竣工有地产业则达6万319单位。

同时，NAPIC报告指出，已获得核准有地产业发展达11万9509单位。

另一方面，WTW报告显示，柔佛州双层排屋平均二手价为每平方尺240令吉，去年的交易价较2012年增长15%。

新山最早期的住宅区之一，彩虹花园的屋价已达每平方尺230令吉，百万镇与柏伶花园的平均售价则为每平方尺190令吉和160令吉。

数据显示，新兴屋业计划如五福城和浩然山庄（Horizon Hills），双层排屋的二手价，也达到每平方尺450令吉和325令吉。

围篱保安住宅热卖

在新山，围篱保安住宅俨然成为新的居家生活趋势。

双层半独立式洋房价也随着大幅增长，二手价可达每平方尺600至800令吉。

East Ledang2012年时，平均售价为每平方尺600令吉，去年已增长至700令吉；浩然山庄则从2012年每平方尺430令吉，大幅涨至700令吉。

新山一带于去年上半年推出的半独立洋房，价格介于每平方尺280至410令吉；古来一带的半独立式洋房售价则为每平方尺200令吉。

WTW报告也指出，靠近马新第二通道的Leisure Farm和Ledang Heights的半独立式洋房，售价分别从每平方尺50令吉至70令吉，和每平方尺70至120令吉起跳。

公寓如雨后春笋

在发展最蓬勃的住宅产业领域中，WTW却指出，公寓也是最热门的产业项目，去年共有超过1万8000个新单位推介。

一些位于黄金地段如金海湾、公主港和马迪尼的产业已突破每平方公尺1000令吉水平，平均售价飙涨至目前每平方尺700至1200令吉。

同时，认购率介于60%至100%。

WTW预计，柔佛新山未来1至3年内，公寓单位供应将增加2万5673个，兴建中单位占新山现有公寓数目的85%。

NAPIC资料则显示，去年，柔佛州内有1376单位服务式公寓和公寓单位竣工，即将完工的单位则达3万1659单位。

同时，新获得核准的新服务式公寓和公寓发展项目，共达4万9478单位。

公寓二手价也上涨

WTW指出，公寓单位二手价，从2012年每平方尺350令吉，涨至去年每平方尺400令吉。

数据显示，靠近新山中央医院的SriSamudera公寓，二手价最近创新高，每平方尺达540令吉。

其次是武吉英达新建竣Sky豪华公寓，二手价为每平方尺490令吉，及百合花园MolekPine公寓，二手价为每平方尺450令吉。

商务产业投资炙热

在活跃的经济活动带动下，加上产业投资炙热，去年柔佛州商务产业增长率达9.7%。

即将完成店铺达1万3884单位、工业产业则达1144单位；已获准店铺发展项目达1万4946单位，工业产业达3492单位。

但根据NAPIC报告，柔佛办公楼发展项目出现放缓迹象。去年，即将完成的办公楼有9座，可租用面积达9万7243平方米，但新获准办公楼发展计划为零。

所幸去年完成的2座办公楼，可租用面积达1万6540平方米，租用率达100%。

截至去年，柔佛办公楼有205座，总面积达102万5335平方米，达78万5934平方米出租面积，出租率平均为76.7%。

商场零售单位料稳升

商场的零售单位需求在今年预料会稳健攀升，在新山市中心商场内的黄金零售单位，租金每月介于每平方尺15至70令吉。

WTW报告指出，新山城中坊是目前商业单位租赁价最高的商场，黄金地点租金每平方尺达40至70令吉，相较于其他商场如淡杯安莎娜广场、五福城广场的首要单位，租金介于每平方尺15至20令吉。

商场的零售单位租赁率在2013年依然保持在70%以上；总供应维持在1330万平方尺，包括购物中心和霸级市场。

随着州内第四间永旺购物商场在古来投入运作，面积占地18英亩，提供可租赁的单位空间达45万7800万平方尺。

新山市中心的敦拉萨大厦（KOMTAR）重建项目预料在明年完成，Southkey Megamall广场则预料在2016年竣工。

东南亚首座“愤怒鸟”主题乐园已敲定正式落户在前身为KOMTAR的新山城市中心广场（JBCC），占地2万6000平方尺。”

二手交易市场内，新山假日广场底层零售单位成交价格，介于每平方尺1500至2400令吉；上层楼面零售单位，每平方尺介于370至460令吉。

五星酒店住客率最高

去年，新山有3间国际酒店开业，分别是公主港商贸酒店（Traders Hotel）、玛迪尼的大马乐高乐园酒店（Legoland）及百万镇的万丽酒店（Renaissance）。

这些新酒店共提供877间房间，平均房价300令吉；乐高乐园酒店房价则高达620令吉。

新山三至五星级酒店，共22间，达6434间客房。

五星级酒店有5间（2329间客房）、4星级酒店共7间（1914间客房），及三星级酒店10间（2191间客房）。

平均房价分别是230令吉（五星级）、190令吉（四星级）及105令吉（三星级）。

五星级酒店住客率最高，达72%，四星级和三星级分别是68%和63%。

WTW预计，希尔顿逸林酒店（Hilton Double Tree）2015年竣工后，客房数量将再增加。

办公楼需求稳定

WTW预计，今年的办公楼租赁率继续保持平稳，因2013年的新山办公楼需求稳定，空置率仅约25%。

黄金地段的办公楼每月租金每平方尺介于2.80至3.50令吉；市郊租金则介于1.80至2.80令吉。

二手交易量仍占少数，去年的交易价稍有微升，介于每平方尺230至350令吉，2012年则是每平方尺介于200至300令吉。

新山现有的办公楼单位供应维持在870万平方尺，111栋办公楼当中有70%是私人持有建筑物，其余则属政府拥有。

努沙再也厂房最吃香

WTW预计今年内，柔州厂房需求备受看好，尤其是古来、泗隆、努沙再也和巴西古当的工业地段。

努沙再也最吃香，工业房地产区域强劲的需求，推高二手价。

柔南工业及物流中心（SiLC）厂房售价从2012年每平方尺介于35至60令吉，跃升至每平方尺55至75令吉。

马星集团发展的工业园———“i-Parc”，半独立式多功能厂房成交价涨至每平方尺310令吉，2011年售价是每平方尺270令吉。

森那美去年成功以每平方尺介于50至55令吉价格，脱售位于巴西古当的工业地。

买屋的能力

大马家庭基本上可分成3个主要收入群，即月入达1万4000令吉的高收入家庭；月入8000令吉的中收入家庭；及月入3000令吉的低收入家庭。

另外，月入介于3000至8000令吉的家庭，属中低收入家庭；介于8000至1万4000令吉的则属于中高收入家庭。

但针对大马人购屋能力测试，我会把焦点放在大马高、中和低收入家庭，分析他们家庭每月开销。

假设月入1万4000令吉、8000令吉及3000令吉的这3种家庭，需要向银行贷款购买房子。

根据高收入家庭、中收入家庭及低收入家庭的每月盈余，银行会愿意为这些家庭提供多少贷款呢？

我们可以通过以下的购屋能力测试来探讨这个问题。

【高收入家】

以这个例子来看，扣除所有开销后，这个家庭每月还有2960令吉可用在房贷供期上。

这意味着，他们可借贷48万8932令吉，期限为30年的房贷。

也就是说，可承担的屋价是55万令吉，可选择在吉隆坡帝莎花园和华联花园等地购买双层排屋。

【中收入家】

扣除所有开销后，这个中等收入家庭可承担的每月房贷供期是1720令吉。

这意味着，他们可获约28万4109令吉，长达30年的银行房贷。

再推算下去，这个家庭可承担的屋价是32万令吉，仍用能力在吉隆坡帝莎花园和华联花园等地购买公寓。

【低收入家庭】

这个低收入家庭的例子，反映出每月可用来偿还房贷的钱只有520令吉。

以此推算，若是30年期限的话，他们可获8万5000令吉银行贷款。有了这笔贷款，可承担房屋价格是9万5000令吉，不过，可承担房屋类型则是廉/中价组屋，有能力购买的产业地点则是吉隆坡斯里圣淘沙花园。

生活素质更低

资料可见，今天生活在吉隆坡和八打灵再也的大马家庭，比较父母和祖父母，大概70年代至90年代之间，生活素质更加低了；大马人现在正受苦。

为了评估吉隆坡居民自1970年以来生活素质下滑了多少，以及他们有能力居住的房产种类和地区，我用吉隆坡数个热门住宅旺区的屋价和家庭收入作比较。大家只要参考以下资料便一清二楚。

【高收入家】

2012年，即便收入1万4000令吉的高收入家庭，也只有能力购买帝莎花园和华联花园的双层排屋。

1970年代，祖父母若有这笔月收入，就有能力购买白沙罗高原，面积达1万平方尺的独立式洋房。

1980年代，同样的收入，父母可以买到孟沙的独立式洋房，1990年代，还可能在士布爹花园购买到独立式洋房。

【中收入家】

月入8000令吉的中等收入家庭，在1970年代，可负担在士布爹花园的独立式洋房；1980年代则下滑到帝莎花园的独立式洋房。

1990年代，购屋能力更加进一步下跌至华联花园的双层排屋。

2012年，只能购得帝莎花园或华联花园地区的中价公寓。

【低收入家庭】

月入3000令吉的低收入家庭，1970年代，还有能力承担华联花园的双层排屋，但1980年代，只能负担帝莎花园的公寓。

1990年代，购屋能力则进一步下滑至华联花园公寓。

一直到2012年，低收入家庭可负担的产业，进一步下滑至斯里圣淘沙花园的廉/中价组屋。

London market heats up with Asian investors

Many Asian investors are following in the footsteps of the trio of Malaysian giants – SP Setia Bhd, Sime Darby Bhd and the Employees Provident Fund (EPF) which have together invested in the redevelopment of the iconic Battersea Power Station in London.

The Channel Islands were the location of choice for the Malaysian trio when they were structuring their investment in Battersea and remain the location of choice for many investors when choosing how to invest and hold property.

“The Channel Islands have a strong reputation for efficient asset holding structures, particularly given their ties with the banking and business community in London,” said Collas Crill (Singaporean office) head of offshore firm Marcus Hinkley.

JLL head of residential research Adam Challis believes that there is a misconception about the sort of person who is investing in the London property market from Asia.

“We are typically seeing middle and upper middle class buyers. This is not high-net worth money,” he said.

In contrast to Middle Eastern or Russian property investors seeking trophy homes in what are called “golden postcodes” such as Chelsea and Knightsbridge, the motivation of the Asian or particularly Malaysian buyer is typically to generate income return rather than capital growth, to buy as an investment rather than a second home, and most specifically as self-investment for their pension.

The nationality of purchasers of newly built residential property in Central London ranges widely.

JLL data from 2013 shows that Chinese buyers represented 6% of the total, of which 17% were from Hong Kong and 11% were from Malaysia. British buyers accounted for only 19% of the total.

However, towards the end of the year and into 2014, the figures have shifted such that domestic buyers make up a much larger proportion of the market today. Taxes may not trouble the sort of person who can afford a Chelsea postcode but they will be a consideration for those with a more modest sum to invest, so understanding changes in the residential property taxes in the United Kingdom (UK) is as essential as knowing the market itself.

Cynicism in the UK market is that foreign investors “buy to leave” that is, they leave the property empty but in fact, says Adam, 90% of transactions are purchases in which the buyer intends to get a market renter, or to allow their university-going children to stay.

Identifying the trends

Using the property for rental, rather than locking it up, means that investors will get a better deal from changes in taxes as they benefit from exemptions in the taxes designed to encourage genuine commercial investment.

Malaysian buyers are more likely to buy into regeneration zones outside prime London. Their average budget of £700,000 (RM3.85mil) to £800,000 (RM4.4mil) means that they are typically looking at a very modest, one-bedroom property in a good Zone 2 location, a two-bedroom further out in Zone 2 or a three-bedroom family property even further out in the east.

The student market makes up a small but significant proportion of purchases and, while some Malaysian students take up places in the nearby region, particularly Manchester and Cambridge, the focus is still on London.

Setting the framework

So, if you are looking at buying property in the UK, what are the top tips? That depends on your investment objectives.

“Buying into London property is capital growth orientated, while the regional market (areas outside London) reflect income return. It is always prudent to understand your local market – it’s in the interests of the individual to engage with their investment and go into it with their eyes open,” said Challis.

Of course, many Malaysian investors purchase their London property, having visited the city. But many do not and, in common with Hong Kong and Singapore, there is an established programme of overseas property marketing in Malaysia, particularly Kuala Lumpur. If you’re investing from abroad and can’t investigate the market first hand, Challis recommends researching the market well to ensure you know what you’re getting into. It’s about doing your research and making sure that you are getting the best advice.

Personal observations

Collas Crill partner Michael Morris said that, as non-UK residents, Malaysian investors need to take specialist advice both at home and in the UK to ensure that the relevant property taxes are being taken into consideration.

“Historically, many Asian buyers have purchased property by using an overseas company, often incorporated in the Caribbean or the Channel Islands. The reason for doing so was that this limited the exposure to UK inheritance tax, which is chargeable on the UK estate of individuals, whether they are residents or not,” he said.

“The new taxes introduced by the UK government have made that decision more complex. If you buy UK residential property in an offshore company, and there remain many good reasons to do so, you may face additional taxes,” added the head of the UK property division at the offshore law firm.

Firstly, when buying in the name of a company, there would have been an extension in the amount of stamp duty (paid on the value of the property) which has been increased to 15% for all property worth over £500,000 (RM2.75mil).

However, if you let out your property, rather than locking it up, then you will get the benefit of an exemption from this higher rate and will pay the same amount applicable to an individual, provided that you rent the property for a three-year period. In essence, he said this could represent valuable savings if one wanted to purchase a property now, but perhaps use it in the future, provided that the three-year period is observed.

Another recent tax is the Annual Tax on Enveloped Dwellings (ATED). This tax was introduced in 2013 for properties purchased in a company.

“This year, the Government also extended this tax and introduced a new annual charge of £7,000 (RM38,500) for properties priced between £1mil (RM5.5mil) and £2mil (RM11mil). Next year, with effect from April 1, 2015, the tax will apply to properties priced between £500,000 (RM2.75mil) and £1mil (RM5.5mil). The properties will face an annual charge of £3,500 (RM19,250). An exemption will apply for buy-to-let properties.”

He said that if the ATED applies for example, where the property is not let out, then an additional capital gains tax will also apply.

“With effect from this year, capital gains tax will apply to all properties sold by overseas companies worth over £1mil (RM5.5mil). With effect from April 2015, this tax will also apply to properties worth over £500,000 (RM2.75mil),” he stressed.

Finally, CGT (Capital Gains Tax) will be charged on gains made by non-UK residents disposing UK residential property with effect from April 2015, whether they hold the property in a company or in their own name. This brings the position in line with UK residents who already pay this tax. CGT is, of course a tax on profits made, rather than a tax on the property value.

Challis sums this as “long-term expectations” pointing to the fact that London will continue to perform strongly. “London is the de facto capital city of the globe, and house prices will reflect that and remain high over the long-term.”

For buy-to-let investors, the tax changes will have little impact and the use of an offshore company may still be a useful tool. For owner-occupiers, the taxes may represent a small price to pay for the potential IHT (Inheritance Tax) saving and the privacy that comes from owning the property in a company name.