By Zerin Properties Corporate Valuers

We analysed the growth of average house prices over 20 years for eight states in Malaysia. The average house price data was collected from the year 2000 until the first quarter of 2021. These eight states analysed were Kuala Lumpur, Selangor, Johor, Penang, Perak, Pahang, Sabah and Sarawak.

Penang

The average house price for Penang in 2000 was RM174,279 and RM300,000 in 1Q2021, with an average annual change of3.2% over the 20 years. There was a decline in 2018 and 2019 by 16.14% and 5.60% respectively, while prices stabilised in 2020.

The decreasing average house price in 2018 and 2019 might have been due to developers offering more affordable house units to reduce the property overhang in Penang. As a result, most property prices in Seberang Perai dropped by 5% to 10% in 2020. The increase in average house price in 1Q2021 could be due to a positive response from the reintroduction of the Home Ownership Campaign (HOC).

Kuala Lumpur

The average house price in KL for the year 2000 was RM245,249 and RM708,812 in 1Q2021, with a 5.6% average annual change over the 20 years. The most significant yearly change is in 2012, with a 17.48% increase. There were continuous declines in the pattern of price growth for 2018, 2019 and 2020 with -4.53%, -12.76% and -4.13%, respectively.

The contraction of house prices was due to property overhang in 2019, with KL experiencing one of the highest property overhang in the country. The situation prompted developers to lower the pricing of affordable housing units, reflecting the contraction of average house prices. On the other hand, the annual change in 1Q2021 increased by 2.82% due to favourable government initiatives, such as the 1.75% Overnight Policy Rate maintained by Bank Negara Malaysia.

Selangor

Selangor’s average house price in 2000 was RM204,105 and RM534,846 in 1Q2021. The average annual change over the 20 years was 4.8%. Double-digit growths were recorded for four years in a row in 2010 (12.88%), 2011 (11.20%), 2012 (10.46%) and 2013 (10.12%). The highest annual change for Selangor was in 2015 with 23.11%, while the annual change in 2020 increased by 3.63% and recorded an impressive growth of 5.55% for 1Q2021.

Being the most populous state in Malaysia and the highest contributor to the nation’s gross domestic product with a large proportion of manufacturing, warehousing and port-related activities, Selangor has been able to sustain the demand for residential properties over the years and provided a buffer against any drastic price drop in the state.

Johor

The average house price for Johor in 2000 was RM132,872, whereas in 1Q2021, it was RM350,000. The average annual change between the 20 years was 4.8%. There was a slight decline in the price growth in 2020 (-1.43%) due to the high overhang property in Johor, which caused developers to offer more discounts to clear the unsold units.

Johor recorded the highest property overhang in 2020, where most of them were condominiums or serviced apartments. The majority of the overhang property was located in the Iskandar Region where developers originally built the house units targeting the foreign market.

(You may find out more about the average house prices for four other states from the source below)

Summary

The average house price for the eight states in Malaysia has shown significant growth over the 20 years. KL and Pahang have the most notable average annual changes above 5%.

The incentives provided by the government to boost the property market that was affected by the Covid-19 pandemic have helped several states to achieve a steady increase of the annual change growth for the year 2020 and 1Q2021.

Source: EdgeProp.my (read more)

The RM545mil Bukit Kukus paired road in Penang will be partially open to traffic next month.

Penang infrastructure and transport committee chairman Zairil Khir Johari said the 3.3km stretch from Lebuh Bukit Jambul that branches out to Jalan Tun Sardon and Paya Terubong was expected to be ready by late December.

He said the section cost Penang Island City Council (MBPP) RM275mil, adding that the project cost remained the same despite several delays earlier.

“The stretch by council will be open to traffic in late December.

“There will be two other portions which have yet to be completed by private developers,” he said when contacted.

The project consists of three sections.

Besides the section by MBPP, two more developers are responsible for the remaining 1.4km (RM150mil) and 0.7km (RM120mil) stretches.

The works include the junction improvement of Lebuhraya Thean Tek, widening of the existing Jalan Bukit Kukus, construction of new roads and an elevated road from Jalan Paya Terubong to Jalan Tun Sardon and an intersection of new paired road to Lebuh Bukit Jambul with a dedicated right-turn ramp.

Zairil said the entire project was scheduled for completion in 2025, which was the original date.

“However the date could change as the private developers will need time to complete their portions.

“We will open the roads in stages as at when it is completed over the next few years,” he said.

Work on the project was delayed due to a few reasons that included the movement control order (MCO).

There were five extensions of time given due to land acquisition issues, slope stabilisation work, relocation of utility lines as well as landslide and blasting permits.

One of the contractors was reportedly cash strapped and work was also stalled due to an objection hearing.

The paired roads project is touted to be the highest elevated route in the country which rises to its highest point of 59.4m from the pile caps.

The project also had its fair share of mishaps since it began in 2018.

In October 2018, 14 beams meant to be a platform for a section of the highway fell, leading to the Department of Safety and Health issuing a stop-work order.

Two days later, a landslide mangled 12 container cabins, killing nine foreign workers and injuring four.

The main contractor Syarikat Yuta Maju Sdn Bhd, was fined RM35,000 in February last year for failing to provide a safe work procedure.

Source: TheStar.com.my

Penang will not face heavy financial implications if the implementation of the Penang South Reclamation (PSR) project in the southern tip of the island is cancelled or postponed.

State Infrastructure and Transport Committee chairman Zairil Khir Johari said the impact of the loss of the project on the Penang economy however would be huge in the long run.

He said, as an industrial state, Penang needed to provide land to attract new foreign investors in the future.

He added that the absence of industrial sites such as the Green Tech Park for future high-tech industrial development meant that Penang would lose the opportunity to attract investments worth tens of billions of ringgit.

“This will affect Penang’s reputation as an investment destination and the state’s economic growth in the future.

“In fact, another implication for Penang is the loss of employment, business and income opportunities to the people and local companies which are awaiting for the opportunity,” he said when responding to a question by Lee Khai Loon (PKR – Machang Bubuk) at the state legislative assembly sitting here today.

Zairil (DAP – Tanjung Bungah) said the absence of the project also meant a loss of opportunities for the southern Penang area to enjoy progress.

“The fishing community is also unable to enjoy the benefits that are being planned and arranged under the Social Impact Management Plan (SIMP) and the community involvement programme branded as Pelitaku,” he added.

Yesterday, the Penang Fishermen’s Association (Pen Mutiara) reaffirmed its earlier decision to reject all reclamation projects in the state.

Two massive reclamation projects currently on the cards are the 1,800ha Penang South Reclamation (PSR) project and the RM2 billion reclamation project in Bagan Ajam, Seberang Prai Utara.

Its chairman Mahadi Md Rodzi had said that all delegates present were united in rejecting any reclamation project in the state.

The PSR, now known as the Penang South Island (PSI) project, covering 17 sq km involves the development of three man-made islands covering an area of 1,800 hectares in the waters off Permatang Damar Laut, near Bayan Lepas.

It was introduced as a funding module of the Penang Transport Master Plan (PTMP) worth about RM46 billion.

It was reported that the coastal landscape in north Butterworth, between the North Butterworth Container Terminal (NBCT) and Jalan Tunku Putra, Teluk Air Tawar, was set to change with the construction of a new waterfront within the next few years.

This followed a supplementary agreement inked between the Penang government and Rayston Consortium (Butterworth) Sdn Bhd to reclaim 650 hectares of the land there.

The signing would push Rayston to start the long-delayed reclamation works since the first agreement was signed back in 1999.

Meanwhile, Zairil said the Penang government had and would continue to adopt an open approach in the implementation of the PSR project, in terms of getting feedback from the various segments of society.

“As of Oct 31, this year, a total of 13,957 people were met through varous engagement programmes. The state government feels that the condition for public engagement has been met.

“And a huge number of those met had voiced their support for the project if it does not have an impact on the environment and the fishing community,” he said, adding that the state government would strive to minimise impacts.

Source: NST Online

Recipients of the 8th PropertyGuru Asia Property Awards (Malaysia), presented by Kohler, were announced today in an innovative virtual gala presentation broadcast on AsiaPropertyAwards.com and multiple digital platforms, with highlights to air on the History Channel.

The programme celebrated the achievements of the real estate sector from north to south Malaysia in 25 categories, including special honours and new titles.

For the second year in a row, the coveted Best Developer award was presented to Tropicana Corporation Berhad. The company accumulated a total of six gold statuettes and two Highly Commended citations, including the never-before-presented title of Best Developer (Central Malaysia) as well as the Best High End Landed Development award for Tropicana Aman – Freesia Residences.
Matrix Concepts Holdings Berhad was crowned Best Township Developer and received three special honours. Ho Kong Soon, the Group Managing Director of Matrix Concepts Holdings Berhad, accepted the 2021 Malaysia Real Estate Personality of the Year title, an award decided by editors of PropertyGuru Property Report Magazine. The title secures the Matrix Concepts Holdings Berhad leader’s legacy in the conceptualisation, development and stewardship of well-thought-out townships and communities across Malaysia.

Ho Kong Soon said: “I would like to dedicate the award this year to all my stakeholders as well as the Matrix team because of their dedication and their commitment to make all this possible.”

Other winners in the Developer categories were OCR Group Berhad and Ideal Property Group, hailed Best Lifestyle Developer and Best Affordable Homes Developer, respectively.

The 2021 edition of the awards included honours for developments with mass appeal. Ideal Property Group won Best Mass Market Condo/Apartment Development (Northern) for Havana Beach Residences while Mah Sing Group Berhad won Best Mass Market Condo/Apartment Development (Central) for M Luna.

Projects by companies under Sime Darby Berhad dominated the Best of Malaysia categories. Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd. won the highly competitive Best Condo/Apartment Development (Malaysia) award, in addition to the Best High End Condo/Apartment Development (Central) title. Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd. won the equally coveted Best Housing/Landed Development (Malaysia) award, in addition to the Best Landed Development (Central) title.
Meanwhile, Cantara Residences by Sime Darby Property (Ara Damansara) Sdn Bhd won Best Mid End Condo/Apartment Development (Central) while The Detached Factories by Sime Darby Property (Bukit Raja) Sdn. Bhd. won Best Industrial Development.

Other winning projects were Agile Mont Kiara by Agile Real Estate Development Sdn Bhd; AraTre’ Residences @ Ara Damansara by Puncakdana Sdn Bhd; Aurora Resort Villas by Country View Berhad; Ion Forte Green City by NCT Group of Companies; KCC City Business Park, Muar by KCC Realty; Mutiara Rini Skudai by Boustead Properties Berhad; and Terra by Putrajaya Holdings Sdn Bhd.
The 2021 edition of the PropertyGuru Asia Property Awards (Malaysia) marks the programme’s second annual virtual gala celebration, following a successful inaugural virtual gala event that engaged consumers, agents and investors across Asia Pacific in 2020.

Hari V. Krishnan, Chief Executive Officer of PropertyGuru Group, said: “Our awards programme in Malaysia is an extension of our strong market position and business performance. The eighth edition of our awards in Malaysia recognises built spaces with various degrees of opulence and affordability, giving property access to a wide array of income groups across the country. Showcasing a wealth of choices in quality real estate, the awards elevate the achievements of innovative developers across Malaysia.”

Jules Kay, Managing Director of PropertyGuru Asia Property Awards and Events, said: “The choices on offer in terms of quality real estate in Malaysia have increased significantly, making it one of the region’s most compelling real estate investment destinations. We are delighted to recognise the resilience of developers in these challenging times. The entries feature a variety of condo and housing projects that cater to the different needs and budgets of property buyers.”

The independent panel of judges that determined this year’s awardees were Prem Kumar, Awards Chairperson and Deputy Managing Director, Jones Lang Wootton; Blaine Robert, CEO and Creative Director, Blaine Robert Design; Chris Tia, Principal and Managing Partner, Tia & Noordin; Dr. Daniele Gambero, CEO and Propenomist, REI Group of Companies; Sr. Engad Ravana, Principal, ER Consult; Sr Low Han Hoe, Senior Manager, Investment & Agency, Nawawi Tie Leung Real Estate Consultants Sdn Bhd; Ar. Mustapha Kamal Zulkarnain, Founder and Principal, Arkitek Mustapha Kamal; Datuk Ar Hj Saiful Anuar Abdul Aziz, Principal, Anuar Aziz Architect, a member of Arte Axis Design Group; Tan Hui Yin, Partner, Tan Chap & Associates; and Ir. Dr. Zulhkiple A Bakar, Managing Director, Perunding ZAB Sdn Bhd.

The site inspection judges consist of Charles Tan Chia Lih, Owner, KopiandProperty.com blog; Ir. Dr. Justin Lai, Managing Director, IPM Group; Law Lee Kiau, President, Johor Interior Designer Association; Miichael Yeoh, CEO & Founder, GM Training Academy PLT; Ng Wee Kwong, Property Invester; and Richard Oon Hock Chye, Executive Director, ShineWing TY TEOH Consulnet Tax Sdn. Bhd.

The team of HLB Ler Lum Chew – HLB Malaysia, led by John Ler, International Contact Partner, and Kelvin Chew, Managing Partner, maintained the fairness, transparency, integrity and credibility of the awards programme throughout the judging process.

The 8th PropertyGuru Asia Property Awards (Malaysia) come ahead of the highly anticipated event series known as PropertyGuru Week in December. These include the 16th PropertyGuru Asia Property Awards Grand Final, where main winners from Malaysia will compete with country winners around Asia Pacific for various Best in Asia titles. The 2021 editions of the awards programme for Australia, China (Mainland, Hong Kong, and Macau), Greater Niseko (Japan), India, and Sri Lanka will take place in the run-up to the Grand Final.

The Grand Final will be preceded by the opening of the 2021 PropertyGuru Asia Real Estate Summit’s virtual world, covering topics like the data landscape, accessible data, sustainable development, and data innovation.

Organised by Southeast Asia’s leading property technology company, PropertyGuru Group, the 8th PropertyGuru Asia Property Awards (Malaysia) programme is supported by platinum sponsor Kohler; official portal partner PropertyGuru.com.my; official cable TV partner History Channel; official magazine PropertyGuru Property Report; official PR partner Klareco Communications; media partners KopiandProperty.com, Malaysian Business, Penang Property Talk, and The Grid Asia; official charity partner Right To Play; official ESG partner Baan Dek Foundation; supporting association Asia MarTech Society; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

LIST OF WINNERS AND HIGHLY COMMENDED AWARDEES
8th PropertyGuru Asia Property Awards (Malaysia)

DEVELOPER AWARDS

Best Developer
WINNER: Tropicana Corporation Berhad

Best Developer (Central Malaysia)
WINNER: Tropicana Corporation Berhad
HIGHLY COMMENDED: Putrajaya Holdings Sdn Bhd

Best Township Developer
WINNER: Matrix Concepts Holdings Berhad

Best Lifestyle Developer
WINNER: OCR Group Berhad
HIGHLY COMMENDED: Binastra Land Sdn Bhd

Best Affordable Homes Developer
WINNER: Ideal Property Group

DEVELOPMENT AWARDS

Best High End Condo/Apartment Development (Central)
WINNER: Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd
HIGHLY COMMENDED: Grand Ion Majestic by NCT Alliance Berhad

Best Mid End Condo/Apartment Development (Central)
WINNER: Cantara Residences by Sime Darby Property (Ara Damansara) Sdn Bhd
HIGHLY COMMENDED: AraTre’ Residences @ Ara Damansara by Puncakdana Sdn Bhd
HIGHLY COMMENDED: Aura Residence by Putrajaya Holdings Sdn Bhd
HIGHLY COMMENDED: One Cochrane Residences by Boustead Properties Berhad
HIGHLY COMMENDED: Tropicana Metropark – SouthPlace Residences by Tropicana Corporation Berhad

Best Mass Market Condo/Apartment Development (Central)
WINNER: M Luna by Mah Sing Group Berhad

Best Mass Market Condo/Apartment Development (Northern)
WINNER: Havana Beach Residences by Ideal Property Group

Best Leisure Condo/Apartment Development
WINNER: Ion Forte Green City by NCT Group of Companies

Best High End Landed Development
WINNER: Tropicana Aman – Freesia Residences by Tropicana Corporation Berhad

Best Landed Development (Central)
WINNER: Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd.
HIGHLY COMMENDED: 118 Residence @ Kinrara by Mahajaya Berhad
HIGHLY COMMENDED: Mutiara Hills by Boustead Properties Berhad

Best Mega Township Development
WINNER: Mutiara Rini Skudai by Boustead Properties Berhad
HIGHLY COMMENDED: Bandar Sri Sendayan by Matrix Concepts Holdings Berhad
HIGHLY COMMENDED: Taman Impian Emas, Johor Bahru by Gunung Impian Development Sdn Bhd

Best Mixed Use Development
WINNER: Terra by Putrajaya Holdings Sdn Bhd

Best Industrial Development
WINNER: The Detached Factories by Sime Darby Property (Bukit Raja) Sdn. Bhd.

Best Retail Development
WINNER: KCC City Business Park, Muar by KCC Realty
HIGHLY COMMENDED: Tropicana Metropark – SouthPlace Shoppes by Tropicana Corporation Berhad

DESIGN AWARDS

Best Condo/Apartment Architectural Design
WINNER: AraTre’ Residences @ Ara Damansara by Puncakdana Sdn Bhd
HIGHLY COMMENDED: Trion 2 @ KL by Binastra

Best Club House Design
WINNER: Aurora Resort Villas by Country View Berhad

Best Landscape Architectural Design
WINNER: Agile Mont Kiara by Agile Real Estate Development Sdn Bhd

BEST OF MALAYSIA AWARDS

Best Condo/Apartment Development (Malaysia)
WINNER: Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd

Best Housing/Landed Development (Malaysia)
WINNER: Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd.

SPECIAL AWARDS

Special Recognition in ESG
WINNER: Matrix Concepts Holdings Berhad
WINNER: Tropicana Corporation Berhad

Special Recognition for CSR
WINNER: Matrix Concepts Holdings Berhad
WINNER: OCR Group Berhad
WINNER: Tropicana Corporation Berhad

Special Recognition in Sustainable Design and Construction
WINNER: Binastra Land Sdn Bhd
WINNER: Ideal Property Group
WINNER: Matrix Concepts Holdings Berhad
WINNER: Putrajaya Holdings Sdn Bhd
WINNER: Tropicana Corporation Berhad

PUBLISHER’S CHOICE

Malaysia Real Estate Personality of the Year
WINNER: Ho Kong Soon, Group Managing Director, Matrix Concepts Holdings Berhad

About Metropol

A mixed development by Ramana Property at Bandar Perda in Bukit Mertajam. It is located near Jalan Perda Utama roundabout, featuring less than 10 minutes drive from Penang bridge. Featuring 326 residential units with built-up size ranging from 810sq.ft. to 1,845sq.ft. Amenities such as schools, hypermarket, banks, shopping malls, and eateries are only a few minutes drive away.

Find out more about Metropol