THE rising property market in Penang is due to the current demands for properties with facilities and amenities.

Penang Master Builders and Building Materials Dealers Association executive advisor Datuk Finn Choong said because of the current level of expectations among buyers, the prices of properties were now trending upwards.

“As customers want more facilities such as lift three-storey bungalows, builders and developers will have to comply with the trend.

“Nowadays, developers do not offer ‘bare units’ to the customers but properties that come with additional facilities and amenities which cater to the current market,” he said.

It is also vital to eliminate outstanding debts to improve one’s credit rating, said mortgage expert Michael Yeoh.

He said as banks scrutinise clients’ repayment records in deciding on credit approval, a good rating could be priceless.

“If one bank rejects your loan application, do not panic or immediately apply at another bank. Get to know your debt-to-income ratio first. Then you can improve your credit rating,” he said.

He also cautioned against needless credit card spending.

He pointed to studies that show Malaysian lenders in particular, often repay just the 5% minimum each month.

“Using RM10,000 as an example, they will need seven years to repay it, and end up spending RM4,500 on interest alone.

“Don’t ever be a guarantor for someone else’s loan, because if they default, you will be blacklisted, spoiling whatever financial plans you have,” he said during the talk, “8 Mistakes Loan Borrowers Frequently Make”.

The talks at the fair are sponsored by Hong Leong Bank.

Source: The Star

One Imperial, strategically located within the establish township of Sungai Ara, Penang. Comprises five blocks of condominium with a total of 768 units. Cheapest unit has an indicative price of slightly below RM400,000 with the size of 1,050 sq. ft.

Location : Sungai Ara, Penang
Property Type : Condominium
Land Tenure : Freehold
Total Units: 768
Built-up Area: 1,050 sq. ft. onwards
Developer : Modular Platinum Sdn. Bhd. (Ideal Property)
Contact No.: +604-645 6888
Indicative Price : RM380 psf. onwards

Contributed by reader (06-Jan-2016)

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MOST of the visitors who have purchased properties at The Star Property Fair 2012 are Penangites, who are attracted to property priced below RM1mil.

IJM Land Bhd senior manager (sales and marketing) Patsy Lee said the group had locked in RM12mil worth of sales for the first day.

Some RM7mil of sales were generated from the Vertiq, a condominium project in Metro East-Udini, and the condominium-cum-duplex loft -The Address in Bukit Jambul, while The Light collection III generated another RM5mil.

The selling price of Vertiq starts from RM700,000 onwards, while The Address in Bukit Jambul from RM900,000 onwards, and The Light Collection III starts from RM800,000 to RM3.5mil.

”Most of the buyers are attracted to projects that are priced below RM1mil,” he said.

Ivory Properties Group Bhd corporate communications manager Ann Tan said the group sold RM5mil worth of projects, comprising sales from The Latitude in Tanjung Tokong and The Wave in Penang Times Square, which are priced between RM600,000 and RM700,000.

SP Setia Bhd (Penang) sales and marketing manager Susie Loh said the group registered RM6.3mil in sales from the Setia Triangle in Sungai Ara and Setia V Residences project in Gurney Drive.

Ideal Property Development Sdn Bhd sales marketing manager Teh Yeow Jin said the group generated some RM2.5mil sales from its Fiera Vista condominium project in Sungai Ara, which were priced from RM500,000 onwards.

”We got about 300 people registering for our forthcoming project, One Imperial in Sungai Ara, which will be launched later,” he said.

Source: The Star

GEORGE TOWN: The Star Property Fair 2012 got off to a good start with exhibitors expressing surprise over the big turnout of visitors despite it being a weekday.

Many exhibitors said they received enquiries and even closed sales within the first two hours of the fair’s opening at Gurney Plaza and G Hotel here at 10am yesterday.

IJM Land senior manager (sales and marketing) Patsy Lee said she was overwhelmed by the encouraging response as they sold three condominium units shortly after the fair was opened to the public.

“There were about 50 enquiries on our various projects. Based on our conversations with those who made enquiries, they were serious buyers.

“It seemed they have done their homework as most of the questions they asked were pertinent to our projects,” she said.

Asia Green Group director Tan Li Mei said she was thrilled over the large crowd at the company’s booths.

“We normally expect people to come either at night or during weekends. But the turnout was good, considering that it is a Thursday,” Tan said.

Ivory Properties Group Bhd senior marketing executive Koay Tze Chung said the response on the first day of the fair was better compared to previous years.

“Many of them came well prepared by asking all the relevant details on our projects. We expect them to return during the weekend once they have finished conducting surveys at the fair today (yesterday),” he said.

SP Setia Bhd sales and marketing property division (North) senior executive Agnes Chua said they received about 40 enquiries for one of their condominium projects.

“It is a weekday but there is already a sizeable turnout at the fair. We expect things to get better as the fair goes on,” she said.

Fifty exhibitors, including financial institutions and investment companies, are taking part in the four-day fair which is touted as Malaysia’s premier showcase for stylish living.

The fair, organised by The Star for the 10th year, is open from 10am to 10pm daily until Sunday. Admission is free.

Source: The Star

A COUPLE drove all the way from Ipoh just to check out the selection of top property at the Star Property Fair 2012 at Gurney Plaza and G Hotel in Penang.

Casino operations assistant ma-nager Ng Boon Ping, 42, and his wife Chow Yeng Yeng, 40, did not mind driving the distance as long as they could secure a dream home in Penang.

“We are looking for a unit, either landed or high-rise, to invest in. We were told the prices for property in Penang could escalate real fast.

“We hope to own a home here. We can then either rent it out or make it a holiday home for us,” said Chow who also brought along their two-year-old son Lysander.

Another visitor was Shaik Sindamadar Sahul Hamid, 60, who said he did not want to miss the chance to check out the property on offer.

“I plan to buy a new home,” said the pensioner.

Businessman Lee Han Mow, 22, came in search of a dream home with his girlfriend Soo Ilya, 23.

Both of them were looking for a condominium priced at about RM500,000.

“We were told that we could get almost everything here, from landed homes, bungalows, condominiums to shop offices.

“The exhibitors here are also renowned developers. We feel safe and secure to make our purchase here,” Lee said.

Meanwhile, exhibitors had put up eye-catching and inventive displays at their booths to woo visitors.

A giant arch could be seen welcoming visitors at the booths of SP Setia Bhd.

Its sales and marketing property division (north) senior executive Agnes Chua said the arch provided a “grand” feel for visitors.

IJM Land senior manager (sales and marketing) Patsy Lee said they spent about RM35,000 to decorate their booths, including putting up artificial greens and flooring of a maze garden.

“We wanted to emphasise impressive landscaping and lush greenery in our property projects.

“In fact, one of our projects has a durian orchard,” she said.

Asia Green Group director Tan Li Mei said they adopted a green concept for the design and layout of their booths.

Star Publications (M) Bhd executive director Tan Sri Kamal Hashim was among those who visited the fair yesterday.

Kamal said the response to be part of the fair was so overwhelming that they had to turn away some of those who wanted to be exhibitors due to space limitation.

“We apologise for that. This only shows that the major industry players have great confidence in our event,” he said.

Fifty exhibitors, including financial institutions and investment companies, are participating in the four-day fair which is touted as Malaysia’s premier showcase for stylish living.

For contest buffs, three Samsung Galaxy Tab 7.7 and other attractive prizes are up for grabs daily over the four days in the IJM-The Star Property Fair Contest.

There are also daily talks on various topics.

The fair, which is organised by The Star for the 10th year, is open from 10am and 10pm daily until Sunday. Admission is free.

Source: The Star