Saturday, September 5, 2020
Sunday, August 30, 2020
Wednesday, July 29, 2020
Cheah eyes Kota Baru for next township
Sunway Group is planning its fourth sustainable township in Malaysia, and it will most likely be in Kelantan.
Founder and chairman Tan Sri Jeffrey Cheah said the group has been offered to develop a township in Kota Baru, the state capital and royal seat of Kelantan.
“There is the possibility of building a fourth sustainable township in Malaysia. I think I can make a difference in Kota Baru. If not, I wouldn’t go. It won’t happen overnight. It takes a bit of time.
“We will have the first medical centre there in Kota Baru. With our brand, knowledge and tie-ups with the top university, people will come. I am confident that our people are excited (about the prospects),” he said in an interview on CNBC’s Managing Asia programme hosted by Christine Tan.
However, Cheah said the plan for the land will take ‘a bit of time’ as the ‘infrastructure there is poor’.
Kota Baru is home to many mosques, museums, old royal palaces (still occupied by the sultan and sultanah) with unique architecture, and former royal buildings in the centre of town.
The city is served by Keretapi Tanah Melayu’s intercity trains at the Wakaf Baru Terminal Station in Tumpat, and Sultan Ismail Petra Airport (also known as Kota Baru Airport), named after Ismail Petra, the 28th Sultan of Kelantan, who ruled from 1979 to 2010.
Cheah, 74, was born in Pusing, a small town outside of Ipoh in Perak.
He had his primary and secondary education in Batu Gajah before leaving to pursue his tertiary education at the Footscray Institute of Technology (now Victoria University) in Melbourne, Australia.
Cheah, whose father was a lorry driver, started his career as an accountant at a motor assembly plant in Malaysia and was motivated to do his own business.
By chance he came across an opportunity to buy a tin-mining company, owned by a British in the 1970s. The company was mining more than 350ha of land in Bandar Sunway, Selangor.
When Cheah found out that the British company wanted to exit the business, he decided to buy the site. However, no banks would lend him money at first, as they did not believe he could transform the area.
That did not stop Cheah. The sixth in a family of 10 managed to get hold of RM100,000 and paid the British firm for the tin-mining site.
By 1974, Cheah founded the Sunway Group of companies to develop Sunway Integrated Resort City (now Sunway City Kuala Lumpur) on the 350ha land.
Cheah told CNBC there were a lot of challenges in the early days and people who did not take him seriously.
“It was negativity all along, right from the start. I got a lot of criticisms, a lot of negative comments from friends and bankers. I had no brand, no name. I was just... Jeffrey Cheah.
“I had to drive bankers down into the mine hole and give some artist’s impressions of what I wanted to do. They said I was just an accountant and not an engineer. I said that is where leadership comes in. You don’t need to be an engineer or a rocket scientist to go up the moon. You provide the facility and you lead people, good people with knowledge, with experience, with skill to help you.
“I wasn’t 100 per cent confident I could pull it off but I knew I had to work my guts out to do it, and it’s worth it! I went through two very bad times... the first in 1986 when there was a very bad recession in Malaysia, and in 1997 which everybody knows was the financial crisis. It was a very, very good lesson for me. I made a lot of mistakes but I didn’t cheat people. It was all business decisions. I learnt my lesson that when there’s sunshine, there’s also storm,” he said.
Cheah said business is about trust and confidence in each other.
“When you shake hands, you honour. There must be integrity and we can’t compromise this. Today, it (the tin-mining site) has become a showpiece,” he said.
The multi-billion ringgit Sunway City Kuala Lumpur fully encapsulates the “livability” concept with the presence of seven key components — retail, hotel, offices, residences, education, healthcare and leisure.
The humble businessman said he owed his success to the value system.
“The value system sometimes is in-born. Skills can be learnt, but values we have will continue to cultivate. I always believe that one must be humble, because if you think you are good, there are lots of people who are better than you. So, why, why, why the need to be cocky? We don’t need to be cocky. Just relate to people as they are, and be kind and humane. I told my children that. I teach them about humility.
“I have seen a lot of young people who are just starting to be successful, and they become carried away. If you are cocky, even if you are walking into a deep hole, they’d say it’s OK.... go, go go. You know what I mean? That is not what we want.
“Be humble, people will help you. That’s the life-lesson learnt. If I didn’t have that kind of behaviour, I would have gone bankrupt because the stakeholders would not help me. When you are down, you need people to bring you up, and they must believe in you and that you are worth helping,” added Cheah
Sunway buys land in Kelantan for new 200-bed hospital
Sunway Bhd is buying a leasehold plot in Kelantan for RM28.70 million to construct a 200-bed hospital, which will mark the group's maiden healthcare expansion into the east coast region.
The hospital's estimated development cost is RM200 million, Sunway said in a stock exchange filing yesterday.
The plot measures 3.811 ha (9.417 acre) and is located at Bandar Kota Bharu — a rapidly developing area of Kota Bahru, and is within one kilometre from amenities such as Aeon Mall Kota Bharu, Platinum Wholesale Mall and Tesco Kota Bharu, said Sunway. The plot's leaseholding will expire on Aug 20, 2102.
Sunway said its subsidiary Sunway Medical Centre Kota Bharu Sdn Bhd (SMCKB) has inked a sale and purchase agreement with Liziz Standaco Sdn Bhd, a property development company, for the acquisition that it will fund using borrowings and internal funds.
Land price
- RM28,704,410 / 9.417 arce = RM3,048,148 per acre
- RM28,704,410 / 410212 sq ft = RM70 per sq ft
Friday, July 24, 2020
热盘行情：雪州Bandar Mahkota Cheras两层楼半的独立式洋房
成交价格：RM225万（每平方尺RM347.54）
交易推手：来自Propnex Realty Sdn Bhd的Jessica Tung（REN 05827，012-381 7783）
成交月份：2020年1月
卖点：
● 租赁地契
● 土地面积：6,474平方尺；建筑面积6,000平方尺
● 六房七浴
● 周边设施：距离Sungai Long早市、商店、餐馆和Putra Specialist Hospital Kajang约两公里；附近还有私人和政府学校、Sungai Long Golf & Country Club以及Impian Golf & Country Club
● 易取道Kajang Dispersal Link Expressway（SILK）和Jalan Sungai Long
Bandar Mahkota Cheras是一项位于雪州Cheras的城镇发展计划，占地901英亩，由发展商是Narajaya Sdn Bhd开发。这里主要的房产类型是有地房产。
坐落于Cheras和Kajang之间，两地繁华的商业中心离Bandar Mahkota Cheras都只有10公里至15公里的距离，居民们可轻松前往。
这宗交易是由来自Propnex Realty Sdn Bhd得Jessica Tung促成。她表示，这栋独立式洋房位于一个有围篱的小区内，环境安静且安全。
Tung指出，这栋独立式洋房保养良好，并有高质量的装修，例如A级大理石瓷砖，使室内看起来豪华又典雅。“买家看上这间房子宽敞的面积，以及车库前还有宽阔的街道。”
她补充说，卖家希望将房产脱手变现，以供其他投资用途。
EdgeProp.my的数据显示，2019年Bandar Mahkota Cheras未有任何独立式洋房交易，而2018年则有两栋独立式洋房转手，平均成交价为RM160万或每平方尺RM238。
2015年至2017年，这里有四栋独立式洋房易手，价格介于每平方尺RM244至RM378之间。
截至2020年六月中，Bandar Mahkota Cheras在EdgeProp.my平台上有28间房子求售，平均要价为RM280万或每平方尺RM394。
有意在Bandar Mahkota Cheras购置房产？或按此查阅更多位于Cheras的产业。你也可按此查看Jessica Tung手上的其他楼盘。
Sunday, July 5, 2020
Friday, May 8, 2020
Property Market For 2019 Records Slight Improvement
The property market for 2019 recorded a marginal improvement amidst a turbulent year of many trials and tribulations.
A total of 328,647 transactions worth RM141.4bil was recorded, showing an increase of 4.8% in volume and 0.8% in value compared to 2018, which recorded 313,710 transactions worth RM140.33bil.
According to the Valuation and Property Services Department of Malaysia, the sectoral market activity performance also improved marginally, with residential at 6%, commercial at 7.2%, industrial at 3.8%, and agricultural at 2.0%.
However, development of the land sub-sector declined slightly by 1.2% while the residential sub-sector led the overall property market, with a 63.7% contribution.
Residential property
Statistics for residential properties showed 209,295 transactions worth RM72.42bil recorded in the review period, increasing by 6.0% in volume and 5.3% in value as compared with 2018 (197,385 transactions worth RM68.75bil).
Performance across the states improved in the review period. By price range, demand continued to focus on the RM300,000 and below category. This demand accounts for 61.7% of the residential transaction, followed by RM300,000 to RM500,000 (21.3%), RM500,000 to RM1mil (13.3%) and more than RM1mil at 3.7%.
The overhang and unsold situation took an upturn, with a total of 30,664 overhang units worth RM18.82bil, decreased by 5.1% in volume and 5.2% in value against 2018 (32,313 units worth RM19.86bil). Similarly, the unsold under construction and not constructed category improved as the number dropped to 72,692 units and 16,774 units, down by 10.2% and 15.6% respectively.
Johor retained the highest number and value of overhang in the country with 5,627 units worth RM4.7bil, accounting to 18.4% and 25.0% respectively of the national total. Perak came second with 5,024 units worth RM1.52bil, followed by Selangor at 4,687 units worth RM3.75bil, and Pulau Pinang at 3,353 units worth RM2.59bil. By price range, products priced from RM300,000 to RM500,000 (7,883 units) formed 25.7% while those above RM500,000 (12,528 units) constituted 40.9% of the total residential overhang.
Construction activities remained on a low tone as completion, start of projects, and new planned supply declined. On the price trend, the Malaysian House Price Index (MHPI) continued to increase at a moderating rate. MHPI stood at 197.5 points (at base year 2010), increasing by 1.9% (3.8 points) on an annual basis (2018: 193.7 points).
Serviced apartments
Unlike the residential overhang situation, serviced apartment overhang continued to increase, and it forms the bulk of the property overhang. There were a total of 17,142 overhang units with a value of RM15.04bil, up by nearly 51% in volume and 65% in value against 2018.
On the contrary, the unsold under construction and not constructed categories improved with volumes declining to 33,827 units and 7,659 units, down by 9.3% and 40.5% respectively. By state, Johor recorded the highest serviced apartment overhang with 71.2% share in volume (12,207 units) and 76.9% share in value (RM11.56bil).
The majority of these overhang units are in the Johor Bahru district, accounting for 99.2% of the state’s overhang (12,105 units worth RM11.5bil). The state also held a 34% share (11,490 units) of the country’s unsold under construction.
By price, units above RM1mil formed 37.4% of the total overhang, with 20.3% being the total unsold under construction category and 19.5% of the total unsold not constructed category. For the unsold not constructed category, units in the price range of RM300,000 to RM400,000 formed 33.0% of the total.
A total of 328,647 transactions worth RM141.4bil was recorded, showing an increase of 4.8% in volume and 0.8% in value compared to 2018, which recorded 313,710 transactions worth RM140.33bil.
According to the Valuation and Property Services Department of Malaysia, the sectoral market activity performance also improved marginally, with residential at 6%, commercial at 7.2%, industrial at 3.8%, and agricultural at 2.0%.
However, development of the land sub-sector declined slightly by 1.2% while the residential sub-sector led the overall property market, with a 63.7% contribution.
Residential property
Statistics for residential properties showed 209,295 transactions worth RM72.42bil recorded in the review period, increasing by 6.0% in volume and 5.3% in value as compared with 2018 (197,385 transactions worth RM68.75bil).
Performance across the states improved in the review period. By price range, demand continued to focus on the RM300,000 and below category. This demand accounts for 61.7% of the residential transaction, followed by RM300,000 to RM500,000 (21.3%), RM500,000 to RM1mil (13.3%) and more than RM1mil at 3.7%.
The overhang and unsold situation took an upturn, with a total of 30,664 overhang units worth RM18.82bil, decreased by 5.1% in volume and 5.2% in value against 2018 (32,313 units worth RM19.86bil). Similarly, the unsold under construction and not constructed category improved as the number dropped to 72,692 units and 16,774 units, down by 10.2% and 15.6% respectively.
Johor retained the highest number and value of overhang in the country with 5,627 units worth RM4.7bil, accounting to 18.4% and 25.0% respectively of the national total. Perak came second with 5,024 units worth RM1.52bil, followed by Selangor at 4,687 units worth RM3.75bil, and Pulau Pinang at 3,353 units worth RM2.59bil. By price range, products priced from RM300,000 to RM500,000 (7,883 units) formed 25.7% while those above RM500,000 (12,528 units) constituted 40.9% of the total residential overhang.
Construction activities remained on a low tone as completion, start of projects, and new planned supply declined. On the price trend, the Malaysian House Price Index (MHPI) continued to increase at a moderating rate. MHPI stood at 197.5 points (at base year 2010), increasing by 1.9% (3.8 points) on an annual basis (2018: 193.7 points).
Serviced apartments
Unlike the residential overhang situation, serviced apartment overhang continued to increase, and it forms the bulk of the property overhang. There were a total of 17,142 overhang units with a value of RM15.04bil, up by nearly 51% in volume and 65% in value against 2018.
On the contrary, the unsold under construction and not constructed categories improved with volumes declining to 33,827 units and 7,659 units, down by 9.3% and 40.5% respectively. By state, Johor recorded the highest serviced apartment overhang with 71.2% share in volume (12,207 units) and 76.9% share in value (RM11.56bil).
The majority of these overhang units are in the Johor Bahru district, accounting for 99.2% of the state’s overhang (12,105 units worth RM11.5bil). The state also held a 34% share (11,490 units) of the country’s unsold under construction.
By price, units above RM1mil formed 37.4% of the total overhang, with 20.3% being the total unsold under construction category and 19.5% of the total unsold not constructed category. For the unsold not constructed category, units in the price range of RM300,000 to RM400,000 formed 33.0% of the total.
Thursday, April 30, 2020
Sharp rise in Selangor serviced apartment overhang
Selangor’s serviced apartment/SOHO overhang units saw a drastic increase in 2019.
According to the Valuation and Property Services Department (JPPH)'s 2019 Property Market Report, there were 3,118 overhang serviced apartment/SOHO units worth RM1.63 billion in Selangor last year, a substantial 78.9% rise in volume and 69.1% rise in value compared with 2018's 1,743 overhang units worth RM963 million.
The unsold under construction and not constructed serviced apartment/SOHO units declined by 26.3% to 7,867 units (2018: 10,681 units) and 91.3% to 202 units (2018: 2,310 units), respectively.
“Completions of new serviced apartment/SOHO units have increased substantially by 63.2% to 17,893 units (2018: 10,963 units) in 2019. On the other hand, starts and new planned supply numbers shrank by 10.6% to 6,969 units (2018: 7,795 units) and 80.9% to 2,448 units (2018: 12,787 units) respectively,” stated the report.
As at end-2019, there were 104,007 existing serviced apartments/SOHO units with another 56,918 units in incoming supply and 21,791 units in planned supply.
Generally, Selangor’s residential primary market softened in 2019 with 18.1% fewer new launches at 9,970 units. Sales performance was also low at 30.6% compared with 44.6% in 2018.
In the commercial property sub-sectors, overall transactions of shop units rose by 9.5% in volume and 7.3% in value although overhang increased by 11.7% to 684 units. Purpose-built offices recorded a slightly lower average occupancy rate of 71.7% in 2019 compared with 74.1% in 2018.
As the bread and butter of Selangor property market, industrial property recorded 2,212 transactions worth RM8.28 billion, up by 9% in volume but transaction value reduced marginally by 0.2% (2018: 2,029 transactions worth RM8.29 billion).
According to the Valuation and Property Services Department (JPPH)'s 2019 Property Market Report, there were 3,118 overhang serviced apartment/SOHO units worth RM1.63 billion in Selangor last year, a substantial 78.9% rise in volume and 69.1% rise in value compared with 2018's 1,743 overhang units worth RM963 million.
The unsold under construction and not constructed serviced apartment/SOHO units declined by 26.3% to 7,867 units (2018: 10,681 units) and 91.3% to 202 units (2018: 2,310 units), respectively.
“Completions of new serviced apartment/SOHO units have increased substantially by 63.2% to 17,893 units (2018: 10,963 units) in 2019. On the other hand, starts and new planned supply numbers shrank by 10.6% to 6,969 units (2018: 7,795 units) and 80.9% to 2,448 units (2018: 12,787 units) respectively,” stated the report.
As at end-2019, there were 104,007 existing serviced apartments/SOHO units with another 56,918 units in incoming supply and 21,791 units in planned supply.
Generally, Selangor’s residential primary market softened in 2019 with 18.1% fewer new launches at 9,970 units. Sales performance was also low at 30.6% compared with 44.6% in 2018.
In the commercial property sub-sectors, overall transactions of shop units rose by 9.5% in volume and 7.3% in value although overhang increased by 11.7% to 684 units. Purpose-built offices recorded a slightly lower average occupancy rate of 71.7% in 2019 compared with 74.1% in 2018.
As the bread and butter of Selangor property market, industrial property recorded 2,212 transactions worth RM8.28 billion, up by 9% in volume but transaction value reduced marginally by 0.2% (2018: 2,029 transactions worth RM8.29 billion).
Thursday, April 9, 2020
Sunday, March 1, 2020
How Bad Is Malaysia's Unaffordable Housing Crisis?
It would have been easier to say that Malaysia’s unaffordable housing crisis is bad and just end it there. If only it were that simple, but it is not.
The severity of the unaffordable housing dilemma in Malaysia is perhaps best described in two words - it’s complicated.
The facts and figures
Last month, Bank Negara Malaysia (BNM) official described housing in Malaysia as being “severely unaffordable” in comparison to international standards. Based on the median multiple methodology, a house is considered affordable if the price is not more than three times the annual household income.
Assuming you are married and earning RM5,000 per month as a family, your annual household income is RM 60,000 and a house three times your annual income would be affordable if priced at RM180,000. BNM’s official says the maximum affordable house price is only RM 282,000 based on the ratio and median national incomes across the country.
With the majority of new home prices falling just within the limit or above the range of affordability, there is an excess supply of properties in the market. The National Property Information Center (NAPIC) provided various statistics in its report for the first half of 2019 and the gist of the oversupply issue is:
32,810 units of properties are overhang units (overhang units are new and completed properties not sold after 6 months).
43 % of overhang units are condominiums and apartments.
Of the overhang amount, Johor has the highest number of overhang units (18.8%), followed by Kuala Lumpur (14.9%), Perak (17.6%) and Selangor (12.9%).
Bulk of overhang units are priced at RM201,000 to RM300,000 (22.3%) followed by homes at RM300,001 to RM400,000 (17.5%), and homes above RM1 mil (12.8%).
The severity of the unaffordable housing dilemma in Malaysia is perhaps best described in two words - it’s complicated.
The facts and figures
Last month, Bank Negara Malaysia (BNM) official described housing in Malaysia as being “severely unaffordable” in comparison to international standards. Based on the median multiple methodology, a house is considered affordable if the price is not more than three times the annual household income.
Assuming you are married and earning RM5,000 per month as a family, your annual household income is RM 60,000 and a house three times your annual income would be affordable if priced at RM180,000. BNM’s official says the maximum affordable house price is only RM 282,000 based on the ratio and median national incomes across the country.
With the majority of new home prices falling just within the limit or above the range of affordability, there is an excess supply of properties in the market. The National Property Information Center (NAPIC) provided various statistics in its report for the first half of 2019 and the gist of the oversupply issue is:
32,810 units of properties are overhang units (overhang units are new and completed properties not sold after 6 months).
43 % of overhang units are condominiums and apartments.
Of the overhang amount, Johor has the highest number of overhang units (18.8%), followed by Kuala Lumpur (14.9%), Perak (17.6%) and Selangor (12.9%).
Bulk of overhang units are priced at RM201,000 to RM300,000 (22.3%) followed by homes at RM300,001 to RM400,000 (17.5%), and homes above RM1 mil (12.8%).
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