House ownership remains among the top concerns for youths according to the first edition of the Youth Aspiration Manifesto Survey.

The three-part survey carried out by Architects of Diversity (AOD) in collaboration with Undi18 and UndiNegaraku comprised 3,089 respondents aged 18-30 nationwide.

AOD co-founder Jason Wee said the findings showed nearly two-thirds of respondents (59%) feared they would be unable to purchase a home in their lifetime.

“Almost all respondents (90%) wanted the government to develop more affordable homes, especially for youths aged 25-30.

“At the same time, three quarters (75%) of respondents felt that a ceiling price should be set on rent that can be charged on tenants,” he said at a press conference on April 7.

Wee added that 54% of respondents also agreed with the imposition of a tax towards property owners who left their properties vacant for prolonged periods.

Among other items highlighted in the survey were youth concerns about future employment opportunities, with bumiputera and east Malaysian respondents especially, expressing their concern.

“In regards to these issues, political parties and policymakers stand to gain youth support through providing economic empowerment.

“This cannot be further delayed as convincing and meaningful economic narratives have to be developed for the Malaysian youth,” he said.

The results from the second and third editions encompassing aspects of healthcare, and law and order will be made public within four weeks.

Source: TheStar.com.my

Following the introduction of Grains Residences, Znen Group is now proposing yet another serviced residence within the vicinity of Bandar Perda. The newly proposed development is located near Jalan Perda Utama 1, just a stone’s throw away from Grains Residences and Metropol. It is just a mere minute’s drive to Bukit Mertajam town centre, less than 10km from Penang bridge. Surrounding amenities include schools, hypermarket, banks, shopping malls and several popular eateries.

This development will see the construction of a 41-storey serviced residence, featuring 608 residential units with 7 levels of car parking podium. There will be a water theme park and recreational area located at level 8.

The project is still in its planning stage. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Bandar Perda, Bukit Mertajam
Property Type : Serviced residence
Total Units : 608
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Znen Town Development Sdn. Bhd. (Znen Group)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

Penang government has spent a total of RM297.57 million involving 32,582 maintenance works at both the public and private housing schemes from 2008 until April 1 this year.

State Local Government, Housing, Town, and Country Planning Committee chairman Jagdeep Singh Deo said the state had spent a total of RM52.59 million on the Penang Maximum 80% Maintenance Fund (TPM80PP), out from the total amount.

“We are always committed to maintaining the various housing schemes in the state.

“This involved a total of 317 applications made for 537 maintenance works, which have been carried out.

“These maintenance projects include the upgrading and replacing of lifts (316 projects) followed by water tank replacement and repair works (145 projects),” Jagdeep said in a press conference today.

Jagdeep added that the RM297.57 million spent also includes on the maintenance works for housing schemes under the Penang Island City Council (MBPP, RM25.54 million), Seberang Perai City Council (MBSP, RM4.7 million) as well as the public housing schemes (RM214.72 million).

Jagdeep, nevertheless said the state government through the Penang Housing Board, has appealed to the Federal Government for an allocation of RM134.76 million this year.

“This is to cover the expenses of a total of 199 maintenance projects at both the public and private housing schemes.

“The allocation includes RM50.36 million for 73 maintenance projects under the ‘Program Penyelenggaraan Perumahan (PPP) and RM84.41 million for 126 maintenance projects under the ‘Tabung Penyelenggaraan Perumahan Malaysia’ (TPPM).

“Until March this year, the Federal Government has only approved a total of RM6.77 million for a total of 32 maintenance projects under the PPP and TPPM.

“Thus, the state government would like to appeal for more allocations to be channelled for the implementation of the various maintenance works,” he said.

Jagdeep, who visited the Taman Samak Flats said the state government has approved a total of RM93,120 from the TPM80PP fund for the piping system repair works. The total cost of the maintenance is RM116,400.

“As a state assemblyman for Datok Keramat, I will bear the remaining 20% which is equivalent to RM23,280,” he added.

Source: Buletin Mutiara

Sanctuary Suria, the 6th phase of residential development at Permatang Sanctuary by IJM in Alma, Bukit Mertajam. Located along Lorong Santuari 25 & 27, adjacent to Sanctuary Court. It is only a short drive to an abundance of amenities namely AEON Mall, Tesco Hypermarket, eateries, schools and banks. Neighbouring communities include Taman Impian Ria, Jesselton Hills, The Glades.

This development will offer 20 units of 2-storey semi-detached houses, with two different built-up sizes to choose from. The indicative price starts from RM725,000 onwards.

The project is still in its planning stage. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Alma, Bukit Mertajam
Property Type : Semi-detached house
Total Units : 20
Built-up Size: 22′ x 45′, 24′ x 41′
Land Tenure : Freehold
Indicative Price : RM725,000 onwards
Developer: Manda’rina Sdn. Bhd. (IJM Land)

SITE PROGRESS

SITE PROGRESS: Sanctuary Suria (Apr 2025)

SITE PROGRESS: Sanctuary Suria (Oct 2024)

SITE PROGRESS: Sanctuary Suria (Jun 2024)

SITE PROGRESS: Sanctuary Suria (Mar 2024)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

Is the country’s residential overhang the result of inadequate project planning and research by property developers?

“Some properties are just not cleverly developed,” said Chan Ai Cheng, president of the Malaysian Institute of Estate Agents (MIEA).

She claimed that this resulted in low demand for such properties and had nothing to do with the state of the market.

“We need to caution buyers not to be overly alarmed by the rise in the overhang numbers as this may not be a reflection of how the property market is doing,” she said in a statement recently.

According to the MIEA’s most recent property market report, 43,860 new residential homes were launched in 2021. There were 31,678 landed properties (43.3 per cent) and 13,182 high-rises (24.9 per cent).

However, just 39.3 per cent of the units were sold, resulting in a 36,863-unit overhang, the biggest in the last five years, Chan said.

This circumstance, she said, should concern developers since it could disrupt their cash flow.

According to her, the overhang is mostly due to a lack of research, which has resulted in a poor understanding of supply and demand, as well as a mismatch in the sort of property price range that purchasers are looking for in specific places.

Chan proposed that the local authorities place a hold on similar developments near high overhang units for a period of time to allow the market to absorb the units or to re-evaluate the development composition before approving it.

“We feel it is time for the government, through the Ministry of Housing and Local Government, to intervene by adopting stricter guidelines or standard of procedures towards building approvals at the state level to provide check and balance and not to waste resources which may run into billions,” she said.

Meanwhile, the MIEA predicts that the real estate market will strengthen this year.

According to Chan, from 2020 to 2021, there was a robust recovery, signalling a return of consumer confidence.

She said that most importantly, the house price index had increased significantly from RM295,000 in 2020 to RM320,000 last year.

The property market report by MIEA showed that the number of transactions in 2021 increased by 1.5 percent to 300,497 units worth RM144.87 billion, a 21.7 percent increase over the same period last year.

“The percentage increase of 1.5 per cent may seem small, but it’s important as it signifies recovery. The last quarter of 2021 saw a sparked increase in the volume of transactions amounting to 99,462 units, which we believe could be largely due to the Home Ownership Campaign incentives which ended in December 2021,” she said.

With 198,812 transactions worth RM76.9 billion, the residential sector was the most active, accounting for 66.2 per cent of all the transactions.

Agriculture accounted for 18.9 per cent of transactions, while the business sector accounted for 7.5 per cent.

Selangor (61,507), Perak (36,893), Johor (36,145), and Kedah (25,077) were the states that contributed more than half of the total transactions, according to Chan.

Source: NST Online