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First Home Convention 4.0 – The BLT Sharing

July 13th, 2018 No comments

Tired of renting? Join the upcoming First Home Convention to equip yourself making informed decision when buying your 1st home.

BLT First Home Convention 4.0

VENUE:
Level 4, Sri Perak Room, Bayview Hotel Penang

DATE/TIME:
21 July 2018, 2PM – 6PM

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State mulling rent-to-own scheme for Penangites

July 12th, 2018 5 comments

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Penang CM wants to enable more Penang folk to have a roof over their heads. He feels that fresh graduates may not be able to afford a home as their incomes are not growing in proportion with housing prices. Hence, while the current low-cost and low-medium-cost housing schemes will still carry on, the state is also mulling rent-to-own schemes.

“Even for units that are priced at RM42,000 or RM72,000, many are still unable to own a home in this category. Securing a bank loan has been a problem in recent years, so we are thinking of this segment of people who can’t afford to purchase even a low-cost or low-medium-cost unit. We hope the rent-to-own concept would be able to fulfil the needs of this category of people.

“We will convert some existing affordable housing schemes into rent-to-own schemes as some of these projects are ongoing and we have yet to allocate the units to buyers. Once we start allocating the units, we can offer this scheme instead of outright purchase. This will also help us to reduce the holding cost of the units. We may work with private developers to sell the units they have built to the state government at cost price and the state government can then allocate these units as part of a rent-to-own scheme,” he shares.

Chow also sees the need for a paradigm shift in the idea of homeownership.

“We have been inculcated with the idea of home democracy where everyone should own a home. But if we are talking about having a roof over our heads for our family, then we need to do some rethinking — can we achieve that through rental?

“Especially for the young working group with income levels at the starting level, maybe they can have a roof over their heads through the rental market,” he suggests.

However, he notes that there is one thing preventing the implementation of rent-to-own schemes — rental defaulters, which is an issue even for rental units that are only costing RM100 per month.

“I am sure you read about the execution of a recent eviction that we carried out recently. Even at RM100, they cannot afford to pay or they don’t want to pay for whatever reason. This is a challenge for the authorities if people cannot or do not fulfill this basic responsibility. Probably, there is no sense of ownership. They keep paying their rent and in the end they get nothing. But if the unit is tied to ownership, this rent-to-own [scheme] may encourage them to pay the rent which they can consider as installment as eventually, they will own the house. Hopefully, this will change the equation as to why people default on rent,” he says.

Source: EdgeProp.my

 

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UPCOMING: Machang Bubok / TF Land Sdn. Bhd.

July 11th, 2018 No comments

proposed-development-machang-bubok-tf-land

A newly proposed mixed development proposed at Machang Bubok by TF Land Sdn. Bhd. Strategically located along Jalan Machang Bubok 1, adjacent to the 3rd phase of Bandar Machang Bubok development. It’s about 5km away from AEON Mall at Alma, under 20 minutes drive to Kulim Hi-tech Park.

This development comprises two blocks of serviced apartment (Block A – 185 units, Block B – 126 units) and 35 units 3-storey shop offices.

This is still pending for approval. More details to be available upon project launch.

Project Name: (to be confirmed)
Location : Machang Bubok, Bukit Mertajam
Property Type : Serviced apartment & shop office.
Built-up Size: (to be confirmed)
Total Units: 311 (serviced suites), 35 (shop office)
Indicative Price: (to be confirmed)
Developer : TF Land Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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We need more than just housing data to address housing issues

July 10th, 2018 No comments

MaimunahThe United Nations Human Settlements Programme or UN-Habitat executive director, Maimunah Mohd Sharif’s passion for bringing change to people’s lives certainly shines through.

As the first Asian lady to be appointed to the position, Maimunah who grew up in a kampung in Kuala Pilah, Negeri Sembilan, was previously the mayor of Penang Island City Council and prior to that was the first woman president of the Seberang Perai Municipal Council.

Since she took office early this year in Narobi, Kenya, she has already delivered some remarkable achievements including having launched a transformation process of UN-Habitat in line with the UN’s overall reform aimed at raising its effectiveness on the implementation of the UN’s Sustainable Development Goals (SDG) and the New Urban Agenda (NUA).

She has also succeeded in raising the profile of UN-Habitat through high-level participation in key events in particular the Ninth World Urban Forum in Kuala Lumpur while spearheading innovative, new partnerships with corporations such as the World Bank.

Integration of data

Having been involved in the planning and development of Penang in her previous role, Maimunah speaks from her experience when she tells EdgeProp.my that access to shelter and housing is still very much a challenge not only in Malaysia but globally.

While accurate and timely data is needed to address the issue of housing supply and demand especially in order to effectively deliver affordable housing, she also believes complementary data such as transport, location and job opportunities are also very much required for a deeper insight on housing issues.

“When you talk about getting data for housing, don’t just look at the housing data alone. You have to connect the data to mobility, transportation, connectivity to work places and where the job opportunities are. Data from Napic (the National Property Information Centre) is limited to housing figures but without the other kinds of data, it does not tell you where you should build your affordable houses.

“There is a huge mismatch in terms of demand and supply. Wherever I go around the world, everybody says they need affordable housing. But what type of affordable housing? What kind of design? Where should it be located at? When we dig deeper, we realise we don’t have such data,” she opines.

Statistics, data and analysis are needed to “fit everything together”. The younger generation, she adds, may not need or want to own a house but there must be access to a house or shelter.

“So it (the house) needs to be affordable to rent or even to stay short-term. Essentially, accessibility to housing is needed,” says Maimunah.

ThinkCity managing director Hamdan Abdul Majeed who was also present at the interview, concurs, stating that homeownership is a choice but what’s important is accessibility to housing.

“We also need a spectrum [of housing choices], so that we can make a choice. Some want smaller houses, some want bigger houses. What we need is a housing market that is modular and is able to shift. Housing is an important dimension of making the city progress. It requires an adequate amount of space to build in the city, and not away from the city, particularly for affordable housing. It must be looked at in terms of maximising the outcome for the city as opposed to maximising owners’ returns,” he says.

Source: EdgeProp.my

 

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Desa Alma Ria

July 9th, 2018 No comments

desa-alma-ria

Desa Alma Ria, a residential development by Harta Intan Group at Bukit Mertajam. It is strategically located within Alma township, about 3km drive from AEON Mall and Tesco Hypermarket. Neighboring communities include Taman Alma Ria, Taman Alma Indah and Jesselton Hills by DNP Land.

This development comprises a 11-storey apartment, offering 112 units of medium cost houses. Indicative selling price from RM270,000 onwards for a standard 1,000 sq.ft. unit.

Project Name : Desa Alma Ria
Location : Alma, Butterworth, Penang
Property Type : Apartment
Built-up Size: 1,000 sq.ft.
Total Units: 112
Indicative Price: RM270,000 onwards
Developer : Harta Intan Group

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

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Traffic
Bicycling
Transit