According to data from National Property Information Centre (NAPIC), Malaysia property market transactions for 1H2019 have rebounded for the first time since the market dipped in 1H 2015, indicating a resilient market outlook.

Based on the latest data from NAPIC, property transaction in 1H 2019 has surged 6.9% year-on-year to 160,172 transactions as compared to 149,862 in 1H 2018. The report stated that the Malaysian property market is expected to remain resilient in the coming haIf-year, underpinned by the strong GDP growth in the second quarter at 4.9% and several government-driven initiatives to further support the market activities in the housing sector.

Affordable housing and finding the right solutions to the property overhang continue to be the main agenda of the government.

The National Housing Policy 2.0 (2018 2025) and the incentives introduced in HOC 2019, which has been extended to Dec 31, 2019 are expected to help improve homeownership among Malaysians and the residential overhang situation in the coming half-year.

In Penang, transaction data from NAPIC did not indicate any significant improvement since 2015. However, the average transacted price has shown a gradual increase in both Island and Mainland.

With the introduction of HOC 2019, it is expected for a surge in property transactions to take place in 2H 2019.

The world’s longest inner tube water slide in a theme park in Teluk Bahang is expected to open to the public by the second half of next month.

Penang Escape theme park founder and chief executive officer Sim Choo Kheng said on Wednesday (Sept 25) that the 1,111m-long water slide will be opened upon completion of Phase 3 of the theme park’s development.

Sim said the third phase, which focuses on gravity-play rides, would include the water slide, ski lift, hill rider and tubby racer.

“The total investment for this development phase is RM12mil, and the water slide alone is RM5mil, ” he told reporter.

Earlier, Sim received the Guinness World Records (GWR) certificate from GWR adjudicator Pete Fairbairn in recognition of the water slide being the world’s longest.

It is three times longer than the previous record holder in Germany (356m).

GWR verified the record for the water slide on Sept 6.

Sim said the record-breaking attempt was “completely unintentional” and the development was solely focused on creating longer and more enjoyable theme park rides.

“The main focus when coming up with the concept was to preserve the natural environment and have the visitors enjoy and love nature while having fun, ” he said.

He added that the physical installation of the water slide took eight months using only basic equipment, such as chain hoists and scaffolding, to keep damage of the forest to a bare minimum.

The water slide, with the highest point at 70m above ground, is composed of 488 sections and 326 side guards, and was joined together with 10,248 sets of nuts and bolts, as well as a 1.2km steel poles weighing at 66 tonnes.

Source: Bernama

About Golden Gateway

An SME Industrial Park located on a 20.5 acre land at the southeast part of Batu Kawan. Strategically located off Jalan Perusahaan Valdor, just a mere minutes drive to Batu Kawan Industrial Park. It is only 5 minutes away from Penang Second Bridge. Comprises 54 units of semi-detached and detached light industrial factories.

Find out more about Golden Gateway

A newly proposed affordable housing development by BSG Property at Tanjung Bungah. Strategically located within upscale neighbourhood, off Jalan Loh Poh Heng. It is adjacent to Hillview Garden and Concord Garden. It is only a mere minutes drive to Penang famous tourist belt of Batu Ferringhi.

This development will see the construction of a 46-storey low medium cost apartment, featuring 495 residential units and 7-storey multilevel car park. There will also be 14 units of 2-storey shop offices.

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

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location: Tanjung Bungah
Property Type: Affordable Housing
Built-up Size: 750 sq.ft. (to be confirmed)
Total Units: 495
Indicative Price: RM150,000 (to be confirmed)
Developer: Taman Sri Bunga Sdn. Bhd. (BSG Property)

Location Map:

Zuraida Kamaruddin has reiterated that the Malaysia My Second Home (MM2H) programme for unsold luxury homes encompasses all foreign buyers and is not confined to purchasers from China.

She said the campaign is to solve the glut of unsold luxury homes.

“I have to set the record straight because the people’s assumption that the MM2H is only for buyers from China is not true.

“We are offering to all international buyers who are participating in the programme,” she told a press conference after launching the Malaysian Smart City Framework here Monday (Sept 23).

Zuraida said the secretaries-general of her ministry, the Home Ministry and the Tourism, Arts and Culture Ministry will discuss the implementation of the campaign.

“We will be meeting to discuss our way forward, whether we can use that platform to assist us in clearing the unsold high-end houses.

“So, this is still in the beginning stage of the discussion and we will see their recommendations,” she said.

Zuraida had said on Sept 16 that the home ownership campaign is an effort to restore the country’s economy.

She had said that by selling unsold luxury homes, the government can stimulate the economy and open up opportunities for developers to build more affordable homes.

Source: Bernama