Pearl Regency, A sophisticated, stylistic metro-island address comprising a vibrant residential and commercial hub created for a cosmopolitan community.

Perfect as a home, perfect as an investment, the strategic space planning of Pearl Regency perfectly fits its strategic location in coastal MetroEast Penang.

Lifestyle amenities cater to the needs and wants of an international community – shopping mall, services, ample parking, security features, recreational facilities and lifestyle programs.

This project was launched 2009 in Korea and opened for local market last year (2010).

Property Project : Pearl Regency
Location : Gelugor, Penang
Property Type : Luxury Condominium
Land Tenure : Freehold
No. of Blocks : 1
No. of Storey : 35
Units per Floor : 7
Built-up Area : 1,313 sq.ft. onward
Total Units : 187
Indicative Price: RM723,000 onward
Developer : IJM Land

Location Map:

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There are a number of measures that can be put in place to ensure the local property market continues to be healthy, sustainable and does not succumb easily to any adversities.

It was just barely three years ago that we witnessed the widespread contagion effect of the collapse of Lehman Brothers on the world economy.

The external front is still shaky and there is a strong likelihood that a second and more severe financial crisis, or “double dip” may happen.

With a growing number of European countries going into debt crisis, the next big trigger may come in the form of a debt default by the US following its ballooning deficit.

To avert a potential meltdown from the frail external economic conditions, it is important to build a strong foundation for the local market.

There are potential hazards lurking that may cause the market to lose substantial value if we are not careful.

Among the potential hazards include over-speculation and over-commitment to household loans that may lead to disability to service the loan, and result in higher incidence of non-performing loans.

Bank Negara is closely monitoring the market for signs of overheating and a potential policy tightening may be in the offing.

The central bank is reportedly looking at modifying the mode of calculation for household loan (that covers mortgage and hire purchase) from gross pay to net pay.

If the measure is implemented, it will mean that borrowers will only be eligible for a lower loan amount based on a percentage (usually up to a third for housing loan repayment) of their take-home pay after deducting payment of income tax, and contribution to the Employees Provident Fund and Socso.

The measure should be welcome as it will curb over-commitment in household loan and ensure there is enough left for other household expenses.

Over the past two years or so, many Malaysians have joined in the rush to buy property as the market has been overflowing with cash, and property is the biggest beneficiary of this high liquidity in the system.

I believe one of the main reasons for the sharp and rapid appreciation in property prices can be attributed to the fact that there are very few alternative investment options around for investors.

To “dilute” the high appetite for property, it is necessary to open up other viable investment options so that those with surplus cash can have other alternatives to turn to. In fact investment in unit trust has become quite popular as it actually fit the needs of those with lower risk appetite and do not like the volatility of the stock market.

Raising savings interest rates will also be a good measure as it will attract more people to park their money in the banks again.

With more people saving with the banks, financial institutions will have more funds to lend to corporate borrowers who need funding to expand their businesses.

New start-ups and small and medium-sized enterprises (SMEs) are among the critical groups which need a helping hand from the banks to provide loans for working capital and expansion plans.

There have been feedback from some smaller enterprises of the increasing difficulty in seeking loans from banks. Instead of just lending to mega corporations, banks should also pay attention to the smaller outfits as most of the big and successful firms today started out small once.

Of course the normal due diligence and screening of the borrowers to access their credit worthiness has to be undertaken to avoid unnecessary problems later.

These enterprises should not be underestimated as they will be able to act as a “cushion” should there be another economic or financial crunch.

From the previous meltdown, we have witnessed how fragile the financial and investment markets can be.

Although the property market is generally quite benign and not as volatile as the financial markets, the sharp hike in prices over the past two years have started to cause alarm in some quarters that the market is overheating.

Although the sharp rise in prices is evident in certain places, notably the Klang Valley, Penang island and some parts of Johor, even some quiet markets like Ipoh and mainland Penang have also charted unusual price gains.

It’s true that many savvy investors have benefited from the sharp price appreciation of the past two years, but there are more people who have been affected by it.

They are caught in a rather difficult situation of having to fork out at least a 20% to 30% increase in property price and higher downpayment for their purchases.

Whether one is a potential buyer or seller, tenant, land owner, developer, or from the governing authorities, we are all stakeholders in the market, and should lend our support to ensure it remains stable and sustainable.

SOURCE: The Star

PROPERTY investors who intend to scout for high-rise buildings can now refer to a new guide book ? An Insider’s Guide to Real Estate in Penang.

Published by Henry Butcher Malaysia (Penang) Sdn Bhd, the property guide consists of details of high-rise properties in the state, such as the estimated selling price and other information.

The book drew inspiration from an earlier successful Henry Butcher book, From Penang With Love, a real estate guide for expatriates.

According to Henry Butcher Malaysia (Penang) director Dr Jason Teoh, the book includes contemporary real estate centric articles from experts in the industry.

The guide book also includes statistical research of the House Price Index and the update of the Boom and Crisis Grid.

Launched on the first day of the Star Property Fair 2011, the book can be purchased at a price of RM200 at the office of Henry Butcher Malaysia (Penang) in Burmah Road.

Visitors to the fair, however, can get it at a cheaper price of RM150 at the Salon III and IV function rooms of Level 2, G Hotel, where the talks and forums are being held.

SOURCE: The Star

GEORGE TOWN: It is better late than never for 38-year-old Danny Lim, as he managed to walk home with an Acer Iconia Tab computer tablet after almost missing out on the ?Surf, Click and Win? contest.

The managing director of the Capital Wealth Management admitted that he almost forgot about the lucky draw contest, as he was enjoying dinner with his friends.

?Fortunately another friend called and reminded me about the draw and I managed to take home this gadget,? he said.

?I tried to win the contest on Thursday but I was not lucky enough to earn the special draw cube.

?However, for the second time around, Lady Luck smiled on me,? he added.

Semi-retired Neoh Teik Hock, 57, also went home happy after winning the Samsung Galaxy Tab device.

He said he would probably give the tablet to his wife as he did not fancy such technological gadgets.

?I prefer a much simpler device and do not really understand how to use the gadget,? he said.

?I had participated in events like Penang Starwalk but did not win anything; so I am delighted to win something here,? he said.

The biggest winner of last night was Peter Lim Cheng Teik as he walked away with the Samsung 32-inch LCD TV.

Peter said that the arrival of the new TV could not have come at a better time as he had thought about getting a new one soon.

?By winning this new TV, I can now save up my money for other things,? he said.

The 31-year-old, who is an avid reader of The Star, said he was scouting for a few property to invest in.

Peter, Neoh and Danny were among the 10 lucky winners who qualified for the special draw of the ?Surf, Click & Win? contest.

Ten contestants will be picked daily throughout the four-day fair for the daily grand draw at 8.30pm,

There would be a special draw for each of the two remaining days of the fair.

Other prizes include seven Parkson shopping vouchers worth RM200 each.

To join the contest, participants will have to bring along a cut-out coupon printed in The Star today and tomorrow.

Visitors need to fill in the contest forms with their personal particulars and answer three questions online at the contest booths set up on the ground floor of Gurney Plaza?s new wing (in front of Topshop) and near the entrance of G Hotel.

Those who answer all three questions correctly will be entitled to a lucky dip.

Folk who pick a cube marked ?special draw? will be eligible to participate in the daily special draws.

SOURCE: The Star

YOUNG couples made up an unusually large number of visitors who thronged the Star Property Fair 2011 at the ground floor of Gurney Plaza and Level 2, G Hotel.

Many of them, however, were not first-time buyers but were instead looking for property for investment purposes.

Among them were Dr Shahul Hamid Ahmad Shah, 34, and his wife Zafrina Ismail, 32, who were checking out condominiums that were near completion.

“The 1-World 2 project in Bayan Lepas by Ideal Home Properties Sdn Bhd looks appealing. Besides, the location is near my current house,” he said, when met at the developer’s booth yesterday.

He added that they were also looking for a semi-detached house on the island to move into.

“We need more space and a better environment for our two children, aged five and three.”

Another couple, construction company director Lim Wei Pin, 27, and his wife Koh Saw San, 25, a contract executive, said it was their first time at the fair and they were thrilled by the choices and options available.

“The Oasis Condominium by Nusmetro Venture (P) Sdn Bhd looks great. We will also check out a few other property launched by credible developers here,” he said.

Freelance photographer Mike Chan, 32, said he was drawn to the three-storey link house launched by MTT Properties and Development Sdn Bhd in Balik Pulau.

“We love property that are located in the outskirts,” said Chan, who was accompanied by his girlfriend Lynn Seng, 26.

Touted as Penang’s premier property expo, the Star Property Fair, in its ninth edition, is open daily from 10am to 10pm until Sunday.

It is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd.

Other exhibitors include IJM Land, Ivory Properties Group, Belleview Group, DNP Land Sdn Bhd, Sunway Grand Sdn Bhd, Mah Sing Group Bhd, Reka Indah Development (Pg) Sdn Bhd, SP Setia, Boon Siew Group (BSG Property) and Plenitude Heights Sdn Bhd.

There are also Triental Land Sdn Bhd, GD Development Sdn Bhd, Lone Pine Group of Companies, ResCom Asia Sdn Bhd, Capitawealth International Sdn Bhd, KPWG International Sdn Bhd, Tambun Indah Development Sdn Bhd, Bukit Kiara Properties Sdn Bhd, E&O Bhd and Jalin Realty.

Henry Butcher is also featuring projects by Magna Putih Sdn Bhd and several properties in Australia and England by various developers.

There is also a series of talks related to property, investment, financing, law, heritage and feng shui. They are being held daily at the stage area at the new wing of Gurney Plaza and in Salon III and IV at G Hotel.

Visitors also stand a chance to win prizes totalling RM30,000 in the ?Surf, Click & Win? contest sponsored by IJM Land. Ten prizes are up for grabs daily, including a 32? Samsung LCD television, Acer Iconia Tabs, Samsung Galaxy Tabs and Parkson vouchers. To participate, simply cut out the ?Surf, Click & Win? coupon in The Star which will appear in the newspaper until Sunday.

There will also be daily cut-out coupons in The Star until Sunday for redemption of a mystery gift each at The Star circulation booth on the ground floor of Gurney Plaza?s new wing on a first-come-first-served basis.

Hong Leong Bank Bhd is sponsoring RM5,000 worth of mystery gifts.

SOURCE: The Star