Taman Mengkuang Jaya 2, third phase of Taman Mengkuang Jaya development by Loyang Ekuiti Sdn. Bhd. (a subsidiary of Metrio Group) at Kubang Semang, Penang. Located along Jalan Kuala Mengkuang, less than 2km away from BKE – Penanti exit. It is approximately 20 minutes drive to Kulim Hi-tech park, about 15km away from Penang Bridge. Neighboring communities include Taman Mengkuang Ria, Taman Seri Mengkuang and Taman Mengkuang Indah.

This development comprises 23 residential and 5 commercial units:

• 2-storey semi-detached house (22 units)
• 2-storey bungalow house (1 unit)
• 2-storey semi-detached shop lot (4 units)
• 2-storey detached shop lot (1 unit)

Project Name: Taman Mengkuang Jaya 2
Location : Kubang Semang, Penang
Property Type : Mixed development
Total Units: 23 (residential), 5 (commercial)
Built-up Area: (to be confirmed)
Indicative Price: RM635,000 onwards (residential), RM649,000 onwards (shop lot)
Developer: Loyang Ekuiti Sdn. Bhd. (Metrio 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 Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo has continued to remind property developers to focus on building affordable homes during this trying period.

“Let us work together. We want the private sector to come together and help the people.

“The Covid-19 has greatly impacted the economy. The way forward for property developers is to build affordable homes. At least you can breathe.

“You can build a million dollar house, but you will take a million days to sell it.

“Let us be realistic. Not during this time,” he said in his speech before presenting the Sena Mas affordable housing offer letters to the eligible recipients at Sena Mas, Tasek Gelugor, today.

Jagdeep congratulated PTL Properties Sdn Bhd for working together with the state in ensuring that the people have comfortable and affordable homes to live in.

“The affordable housing homes, which are priced from RM200,000 each, will come with various facilities,” he said.

Sena Mas is believed to be the first landed, gated and guarded housing development in Penang under the state’s affordable housing scheme.

The project has 338 units of townhouses and comprises two types – Type A (935sq ft) and Type B (1,093sq ft).

Two acres of land have been dedicated for facilities and green areas. Among the facilities to be provided were a multipurpose hall, an aromatic garden, a barbecue pit area, an outdoor gym, and a children’s playground.

The construction works have begun, and the project is set to complete before 2024.

He added that the state has set its target of having 220,000 units of affordable homes (various types) by 2030.

“We have surpassed 120,000 units of various types of affordable homes as of now.

“This is the state government’s effort for the Penangites. We also thank the Penang Housing Board for its effort,” he said.

Source: Buletin Mutiara

Scientex Tasek Gelugor offers the First* Landed 2 Storey Affordable Homes with Freehold Title in Pulau Pinang with affordable price from RM226,800*.  Scientex Tasek Gelugor has recently launched the “Scientex NRP Virtual Lucky Draw” online campaign with more than RM10,000* worth of prizes to be won. Eligible purchasers will have to secure or purchase a unit with RM200* booking fee from 15/8/21-10/10/21 and obtain loan approval as well as to execute the Sales and Purchase Agreement before 31/10/21.

Announcement of winner will be made through Scientex Tasek Gelugor Facebook Page on 6/11/21. Book and secure a unit to stand a chance to win amazing prizes now!

Read the T&C here : http://shorturl.at/cdgoG

About Scientex Tasek Gelugor

To date, Scientex’s property division has delivered more than 25,000 affordable homes with a total land bank of 7,195 acres spreading over 29 prime locations. Commencing from the very first project in Pasir Gudang within the Southern Region (Johor and Melaka), Scientex has since expanded its presence to the Northern Region (Penang and Sungai Petani, Kedah) and Central Region (Negeri Sembilan, Selangor and Perak) of Peninsular Malaysia.

Scientex Tasek Gelugor spreads over a 179.7 acres of prime freehold land offering a total of 2,332 units of 2 storey terrace houses with affordable price as well as designed for the modern lifestyles with functional layouts affording ample space for everyone and every activity. Apart from that, commercial properties will also be offered to the market. The project is located in Tasek Gelugor, along Jalan Kubang Menerong. It is about 8km to Kepala Batas and North South Expressway. It is close to shopping malls ( Tesco, Mydin, Sunshine), educational institutions ( USM, UiTM, MRSM), recreational parks, healthcare facilities and etc.

Lily 3 is a 2 storey terrace house project with freehold title. It is the third phase of Lily series with 279 units offered. The booking fee to book a unit is now RM200* with additional rebate of RM1,000* offered.  Besides that, Scientex Tasek Gelugor’s first phase of commercial property is now opened for registration too.

To find out more details, kindly contact developer at
+6012-477 5583 or +604-573 5833

Website: www.scientex.com.my
Email: penang@scientex.com.my
Facebook : https://www.facebook.com/ScientexTG
Instagram : https://www.instagram.com/scientex_tasekgelugor

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Under the 12th Malaysian Plan (12MP), ceiling prices for affordable housing will be introduced in the resale market in order to control house prices, especially in the urban areas, MalaysiaKini reported today.

The move is to ensure that housing remains affordable for the selected target groups. It is understood from the report that regulation will also be introduced to limit the purchase of affordable housing to only one for eligible citizen, to increase the supply of affordable housing.

The 12MP was tabled by Prime Minister Ismail Sabri Yaakob in the Dewan Rakyat on Tuesday.

“A comprehensive database of affordable homeowners will be established to monitor homeownership while the existing housing financing schemes will be improved to assist the B40 and M40 households to own houses,” the 12MP report read.

The report also highlighted that the government will continue to prioritise providing better access to affordable housing to the rakyat by increasing access to house financing as well while existing housing financing schemes will be improved to assist the B40 and M40 households to own houses.

Meanwhile, it also added that the rent-to-own programme will be expanded to cover houses priced up to RM500,000, with an option to purchase the property within five years of renting it.

As for first house purchases, the Fund for Affordable Homes and Youth Housing Scheme will continue to be provided for financing.

As for households that own land, they can be assisted by the Housing Loan Scheme in order to build affordable houses, the report noted.

Source: EdgeProp.my

Setting ceiling prices for affordable homes, even if temporary, will not address the shortage of affordable housing, an economist says.

In the recently tabled 12th Malaysia Plan, it was revealed that the government would implement price caps for affordable homes on the secondary market and limit the number of units a person can buy, to keep these properties accessible to those who need them.

However, CEO of the Center for Market Education Carmelo Ferlito said artificially manipulating the housing market with a price cap will only drive up costs.

“If you put a price ceiling, those who are not in a rush to sell will opt to hold onto their property rather than placing it on the market, if the set price does not meet their expectations,” he told FMT.

“Therefore, you will have fewer houses available, rather than more.

“Furthermore, by creating a negative incentive to sell, and therefore limiting supply, the actual market price will increase rather than fall, and such a spike will be evident if the ceiling (price) is removed.”

In addition, Ferlito said, this could create a market for corruption in the housing market, with sellers incentivised to find buyers willing to circumvent the ceiling price with “off the books” payment.

He called for a more sensible approach to prioritise access to good homes over ownership, as even with price caps, the majority of buyers would still need to take up loans to buy these homes.

With household debt at the end of 2020 reaching 93.3% of the national gross domestic product, the emphasis on ownership should be replaced by offering rental support so those in lower-income groups are able to live in areas that provide better opportunities, he said.

“The government should be promoting social mobility, rather than encouraging people to buy affordable homes in areas that are generally low-income, which would result in the poor remaining poor,” he said.

Source: FreeMalaysiaToday.com