The Malaysian Institute of Estate Agents (MIEA) has debunked the notion of property value moving towards half-price as was reported in a local daily with the heading, “Houses at half-price, anyone?”

President Chan Ai Cheng said the two properties mentioned in the publication were isolated cases and should not be used as a yardstick for the property market in the country.

“The majority of developers do offer discounts but not as dramatic as reported. In a recent poll conducted by MIEA with real estate practitioners who are on the ground and know exactly the happenings revealed no such evidence,” she said in a statement.

She said developers have no intention of reviewing their selling prices as demand is strong, especially in established localities and in new well-planned townships.

“Though admittedly the growth rate over the past three years has been less than five percent due to the challenges in the property market, the key takeaway is that the Malaysian property market is resilient,” she added.

Source: TheEdgeMarkets.com

A researcher has described Malaysia’s housing policy as something that is stuck in an “identity crisis” from which it can emerge if policy makers decide whether to view a house as an asset or a necessity.

Lillian Wee of the Research for Social Advancement (Resda) think tank said the government, in giving priority to people who can afford to buy property, was shutting out those who could not or did not want to, thereby creating unequal opportunities.

Not enough attention had been given to the growing rental market, she said, noting that this was one of the issues that had been exacerbated since the onset of the Covid-19 pandemic.

“A lot of the government’s policies during and before the pandemic have prioritised home ownership and people who can afford loans or multiple houses,” she said.

“As such, those who cannot afford to take on loans or put down large downpayments are left out. These include people who choose to rent for work, mobility or lifestyle reasons. There is a lack of assistance for these people to lease affordable homes and, during the pandemic. little has been done to help them with their payments.”

Wee said housing must be viewed as essential and should therefore be made more affordable and accessible to those who need them.

“Malaysia is urbanising rapidly, with people moving from suburban and rural areas to places like Kuala Lumpur, Selangor, Penang and Johor. However, these are the areas where housing prices are the highest and housing inequality is at its worst.

“There is a problem if someone from the M40 cannot afford to buy or rent a house in Kuala Lumpur, since it’s not just people from the T20 group that work there.”

She said this was typified by the building of 14,094 low-cost homes last year, well short of the National Affordable Housing Council’s target of 100,000 units annually.

“Instead, we are seeing a surge in homes that cost more than RM600,000, out of reach for most of the people the government should be looking to provide for.”

During the pandemic, with record unemployment and wage cuts, the lack of affordable housing has become more apparent.

Wee said Malaysia needed to ramp up the supply of affordable housing by offering incentives to developers to reinvest their profits to fund them.

She also said renters should get more protection, and called for moves to balance the legal power between landlords and tenants, which currently strongly favours the former.

Source: FreeMalaysiaToday.com

Rural parts of Penang island were hit with flash floods yesterday following a downpour in the afternoon, with more than 2,500 people in about 500 homes affected.

The floods began after intense rainfall which lasted for about an hour in Bayan Lepas, Balik Pulau and Teluk Bahang from about 3pm yesterday.

State transport and infrastructure committee chairman Zairil Khir Johari said the floodwaters rose to about 0.5m in certain areas but fortunately, there were no casualties. There have also been no evacuations so far despite relief centres being already prepared to take in flood victims.

He said rainfall was recorded as high as 274mm at Bagan Air Itam in Balik Pulau, with rivers rising 2.8m to 3.5m, the highest being Sungai Burung in the same town.

Zairil added that existing rivers will be deepened as a short- term measure while a study of flood hotspots will be carried out to determine drainage capacities in the long-term.

The areas affected are:

Bayan Lepas – Kampung Nelayan, Kampung Sulup, Kampung Paya, Rumah Murah Kampung Nelayan, Sekolah Sri Bayu, Teluk Kumbar, and Kampung Masjid, with 1,015 people in 203 homes affected.

Teluk Bahang – Taman Manggis with 100 people in 20 homes affected.

Pulau Betong – Sungai Burung, Balai Raya Titi Teras, Kampung Paya Kongsi, Taman Seri Indah, Kampung Pulau Betong, and Kampung Terang, with 1,500 people in 300 homes affected.

Source: FreeMalaysiaToday.com

The 57th International Federation of Landscape Architects (IFLA) World Congress & World Landscape Architects Summit kicked-off in a virtual manner this afternoon with Penang used as its backdrop during the live-streaming.

The event, which is jointly by the Institute of Landscape Architects Malaysia (ILAM), International Federation of Landscape Architects (IFLA) and National Landscape Department, Ministry of Housing and Local Government of Malaysia, will be held over five days.

Chief Minister Chow Kon Yeow, in his address via a pre-recorded video, conveyed his vision of placing Penang at the forefront to inspire others as well as to become a leader in smart city status in Malaysia.

“IFLA2020 with its theme ‘Future Tense’ significantly associates with the Penang2030 vision, and I foresee the importance of landscape architecture as one of the crucial solutions in making Penang a smart city and an ideal living place for its people.

“We need to have various landscape architecture solutions to blend with our unique culture and lifestyle to create a more liveable environment for our family and society to flourish,’’ said Chow.

Chow added that the Penang government, together with the local council (Penang Island City Council) and the private sectors, through their corporate social responsibility (CSR) initiatives, are transforming and rejuvenating the George Town World Heritage Site.

“We have revitalised back lanes, providing people with comfortable pedestrian and bicycle linkages in an urban greenery setup.

“These are some examples of our efforts in achieving a ‘low carbon city’ while ensuring a better quality of life through green and intelligent city planning.

“With this, I am also eagerly anticipating Penang’s new landscape evolution that includes a smart landscape and smart park.

“I welcome more suggestions, ideas and innovations that will contribute to our efforts in improving the sustainability of our city to create a prosperous and ‘future inclusive’ environment for Penangites,’’ said Chow while thanking the organisers for successfully holding the event despite the challenging time.

Meanwhile, the interim Prime Minister Tan Sri Muhyiddin Yassin, who officiated the virtual congress though a pre-recorded video, said the event is the commitment portrayed by the Malaysian government to global efforts in strengthening the sustainability of development amidst the pandemic.

“I sincerely hope that this conference can explore new partnership and collaboration between public, private, people and professional stakeholders to achieve our shared goals.

“We have come together to inspire and engage ways on how landscape architecture can contribute to environmental, social and cultural well-being to create a better world for our future generations to live in,” Muhyiddin said.

Among the dignitaries who presented the opening remarks were United Nations Human Settlements Programme (UN‐Habitat) executive director Datuk Seri Maimunah Mohd Sharif, IFLA 2020 organising chairman Assoc. Prof Dr Suhardi Maulan and IFLA president James Hayter.

Source: Buletin Mutiara

Yet another proposed residential development by GTM Inspiration Sdn. Bhd. at Machang Bubok. Located near Jalan Machang Bubok 1, just a short walking distance from SK Machang Bubok 2 and SMK Machang Bubok. It is less than 1km away from Vangohh Eminent Hotel, about 10 minutes’ drive to AEON Mall at Alma. Neighbouring housing schemes include The Navens by WHH Land, Garden Terraces by DNP Land, Hillpark Residences and Tropicale Residensy by GTM.

According to the proposed development plan, this will be a gated & guarded housing scheme featuring 6-storey low-rise semi-detached townhouse concept with a swimming pool and community hall:

• Type A – lower ground level to level 2 (72 units)
• Type B – level 3 – level 5 (72 units)

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

Project Name : (to be confirmed)
Location : Machang Bubok, Penang
Property Type : Gated & guarded
Total Units: 144
Indicative Price: (to be confirmed)
Developer: GTM Inspiration Sdn. Bhd.

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.