Over 100,000 real estate agents are operating without a licence in the country, Malaysian Institute of Estate Agents (MIEA) president Lim Boon Ping said.

According to the New Straits Times, unlicensed agents outnumbered their authorised counterparts by more than three to one.

“While we have seen some reduction over the years, the number (of illegal agents) is still high.

“We are keeping tabs and actively collecting evidence of activities involving illegal real estate brokers throughout the country and are working with the police to curb such activities in a more proactive manner,” he was quoted as saying.

He advised the public not to engage unlicensed agents as doing so meant putting their life savings at risk.

Lim also urged such agents to get certified, adding that his group was working with state governments in Sabah and Sarawak to make certification more accessible.

Citing Section 30 of Valuers, Appraisers, Estate Agents and Property Managers Act 1981, Lim said acting as a real estate agent without a licence was an offence punishable by a fine of up to RM300,000 fine and/or three years of jail.

Local Government and Housing Minister Zuraida Kamaruddin recently warned the public against engaging dubious real estate agents or negotiators when selling or buying property.

She said it was important that people to choose certified agents endorsed by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), which is under the purview of the Finance Ministry.

Zuraida also urged the MIEA to play a more active role in engaging its members to come out with more strategic ideas to help developers market unsold properties.

Source: MalayMail.com

The industrial property sector is expected to remain active for the rest of this year, supported by foreign direct investment inflows.

Knight Frank Malaysia in a recent statement said the launch of Industry4WRD late last year in response to the digital transformation of the manufacturing sector and its related services will pave the way for the country.

The property consultancy said the Klang Valley, Penang and Johor will be primary destinations for investments.

In the same statement, Knight Frank Malaysia capital markets executive director Allan Sim said there was tremendous growth in foreign investments within the Klang Valley in the first half of 2019, driven mainly by robust performance in the manufacturing sector.

“With semiconductors and electrical and electronics players looking to expand within Malaysia, we anticipate more construction activities of factories and warehouses to cater to the relocation and expansion of these foreign manufacturers.”

He said the e-commerce logistics warehousing sector is “another exciting chapter to watch out for”.

“Recall the joint venture between Malaysia Airports and Cainiao in relation to the 1.2 million sq ft air logistics hub within the Digital Free Trade Zone. The facility is slated for completion by year-end and we expect to see further activities in the e-commerce warehousing and logistics market,” he said.

According to the Valuation and Property Services Department (JPPH) in its Property Market Report 2018, the industrial property sub-sector recorded 6,032 transactions worth RM15.01bil in 2018, which was an increase of 5.4% and 28.9% in volume and value compared to the year before. It said the prices of industrial properties showed a “mixed performance”.

“Johor recorded several negative, double-digit price changes, especially in the Tampoi area. While in Penang, property in the South-west district showed a better price change due to limited supply for the property type,” it said.

Meanwhile, Knight Frank Penang executive director Tay Tam said the attraction of Penang can be attributed to the state’s robust supply chain, with several players home-grown as well as its strong talent pool, well-established infrastructure and good support services to investors.

“Industrial properties within the matured Bayan Lepas Industrial Park continues to be in demand while several multinational companies have set up operations in the newer Batu Kawan Industrial Park which includes several existing manufacturers from the island.

“The industrial sector outlook for Penang looks good over the medium to longer term,” he said in a statement.

As for the Johor market, Knight Frank Johor branch head Debbie Choy said the expansion of Iskandar Malaysia’s boundaries is expected to generate more job opportunities and enhance export volume.

“The industrial sector continues to show positive sentiments as we continuously receive active enquiries for warehouse/manufacturing space.

“Johor is well connected for both imports and exports via three sea ports and an international airport. This is one of the reasons that Johor will house the world’s biggest ship-to-ship hub,” she said.

Source: TheStar.com.my

The conservation of the Old Prangin Market, archaeological sites and landscaping of Sia Boey Rejuvenation Project is going on smoothly under Phase Two.

Chief Minister Chow Kon Yeow visited the Sia Boey site and was briefed by George Town World Heritage Incorporated (GTWHI) general manager Dr Ang Ming Chee and Penang Development Corporation (PDC) general manager Datuk Mohd Bazid Abd Kahar.

“The rejuvenation project was launched on March 25 last year to transform Sia Boey into an area that facilitates the coexistence of development and heritage conservation,” Chow told a press conference today.

“This is to add value to the George Town UNESCO World Heritage Site by enhancing the Outstanding Universal Value with programmes and space created for the local people and restoring the shophouses in future phases.”

Chow said this project would also revitalise the area of Komtar Phase 5, making it the socio-civic centre and business hub of the state.

The project is being undertaken by PDC in collaboration with GTWHI, Universiti Sains Malaysia, Penang Island City Council (MBPP) and with other stakeholders like Think City and George Town Conversation & Development Corporation. Its concept is an archaeological park.

Touching on how it started, Chow said in October 2015, a granite structure was uncovered at the Sia Boey site and was identified to be the Old Prangin Canal Basin by USM’s Centre for Global Archaeological Research.

The site is one of the largest archaeological sites in George Town with the Old Prangin Canal Basin as Site A and Police Barracks as Site B.

Chow said Sia Boey was the gateway of ordinary people to George Town about 300 years ago, adding that the canal in fact even went as far as Transfer Road for tongkang (boats) to come into George Town then.

The works that had been completed were Prangin Bypass (RM7mil), Archaeological Study of Site A (old Prangin Canal Basin) and Site B (Police Barracks) by USM (RM327,000), Phase 1 (A) Rehabilitation of the old Prangin Canal (RM1mil) and Phase 1 (B) Rescue Archaeology of the Prangin Canal by GTWHI (RM700,000).

The forthcoming Phase 2 (A) works include restoring two shophouses along Jalan Magazine as community facilities space (toilets, changing room, showers and lockers) and having public archaeology programme for children to teach them archaeological methods, an analysis and interpretation programme.

Chow said Phase 3 proposed works also include the restoration and adaptive reuse of all the 22 shophouses and using some of the buildings to display the artefacts in the new Prangin Archaeological Gallery as public education and outreach programme.

He said there would also be an LRT station at the Sia Boey area if ‘it happens’.

Dr Ang said 4,000 man-hours were spent on sieving of artefacts from the deposit of the canal base.

“We’ve found about 15,000 artefacts that weigh about one tonne. We’re now in the process of categorising them,” said Dr Ang, while showing Chow and other guests the items recovered from the 19th and 20th century.

Also present were state Tourism Development, Arts, Culture and Heritage Committee chairman Yeoh Soon Hin, Komtar assemblyman Teh Lai Heng, Pengkalan Kota assemblyman Daniel Gooi Zi Sen, PDC deputy general manager Datuk Yeoh Lean Huat and MBPP councillor Wong Yuee Harng.

Chow, together with them, later released some fish into the canal.

Source: Buletin Mutiara

Here is a snapshot of the most popular residential areas and projects in Penang among homebuyers.

The sales and purchase data are captured from the Valuation and Property Services Department (JPPH) that has been compiled by brickz. This is based on the review period between January 2018 and December 2018. We round up the top areas and projects in Penang for anyone looking to maximise their properties’ potential.

Highlights

• The top 2 most popular areas are in the Penang mainland.
• Bukit Mertajam is the most popular area in the whole of Penang.
• The terrace house is the most popular property type in the whole of Penang.
• Bandar Tasek Mutiara is the most transacted project in the whole of Penang.

1. What are the top 5 areas in Penang?

Here are the top 5 areas in Penang based on the review period between January 2018 and December 2018. The data compiled by brickz is ranked by the number of transactions.

Based on the data presented, the two most popular areas are in Penang mainland (Seberang Perai). One of the contributing factors could be the affordable alternatives for property ownership compared to Penang island, especially for landed houses.

Bukit Mertajam is the most popular neighbourhood among homebuyers in 2018. This could be due to affordable housing developments in the area. It has an affordable median price of roughly RM 300k. Not just that, Bukit Mertajam is also a mature area and a major town in Seberang Perai. The Bukit Mertajam town is about 11 km from the Penang Bridge and has direct access to the North-South Expressway Juru Interchange. Besides, Bukit Mertajam has various tourist attractions such as St. Anne’s Church and Hock Teik Cheng Shin Temple.

Next is Butterworth. It is an industrial town and the largest town in Seberang Perai. The median price of a property in this area is RM 330k. According to the 2010 census by the Department of Statistics Malaysia (DoSM), Butterworth is the largest town by population within the Seberang Perai municipality. In terms of transportation, the ferry service links Butterworth and Georgetown while the KTM Butterworth station is about 700 m from the ferry terminal. Butterworth also serves as the Royal Malaysian Air Force (RMAF) base.

Fun fact:
The median built-up sizes in Butterworth is almost twice the size (1,000 sf compared to 700 sf) of properties in Jelutong. This means buyers are getting bigger houses in Butterworth for roughly the same price as a smaller house on the Penang Island.

Jelutong is in the suburb of Georgetown. It is the only area in Penang island that is in the top 5. This area is set to be the next hotspot in Penang with plans by the state government to turn a 40ha landfill into an eco-futuristic town. The ¬The median price for a property in Jelutong is RM 339k and the median per square foot (PSF) price is RM 450. Jelutong accessibility to the Georgetown City Centre is convenient via the Tun Dr Lim Chong Eu Expressway although the built-ups are smaller than properties in Butterworth.

2. What are the top 3 projects in major Penang areas?

Sanctuary Garden is the most transacted project in Bukit Mertajam. It features freehold 2-storey Semi-D houses. Units come with 4 bedrooms, 3 bathrooms, and 2 parking spaces. This area is about 20 km to the Penang Bridge while the second bridge (Sultan Abdul Halim Muadzam Shah Bridge) is about 17 km away. Not just that, Sanctuary Garden is about 3 km to AEON Mall Bukit Mertajam and Tesco Bukit Mertajam. Furthermore, the KTM Simpang Ampat station is about 5 km away from Sanctuary Garden while Juru Auto City is 20 minutes’ drive away.

The most transacted project in Butterworth is Taman Bagan. It includes double-storey terrace houses and single-storey terrace houses. Property prices in Taman Bagan are ranging from RM 402k to RM 800k. This residential area is in a prime location with many amenities within its reach. The Butterworth Ferry Pier is within 5 km radius while the KTM Butterworth station is about 4 km away.

The station also serves the Butterworth – KL ETS train service. Besides that, the Sunway Carnival Mall is within 4 km and Penang Bird Park is about 9 minutes’ drive away. On top of that, Taman Bagan also has easy access to the Butterworth- Kulim Expressway. It is linked to the North-South Expressway and other parts of Seberang Perai.

Desa Pinang 2 is the most transacted project in Jelutong. It is comprised of flats that range in size from 527 sf to 614 sf. Desa Pinang 2 is located nearby Tun Dr Lim Chong Eu Highway and amenities are within reach. Komtar Bus Terminal is 3.2 km away while Weld Quay Bus terminal is within 3.5 km. Furthermore, the Penang Ferry Terminal is about 4 km away whereas Georgetown City Centre is about 6.6 km or a 22-minute drive from Desa Pinang 2.

3. What are the hot-selling residential properties in Penang

• Terrace: 2,465 transactions
• Flat: 1,700 transactions
• Apartment: 1,691 transactions

Terrace houses are the hottest selling types of property in Penang. All top 3 areas are in the Penang mainland. This is due to the more affordable price range compared to properties in Penang Island, as well as more options for landed properties. Bukit Mertajam recorded the highest number of transactions for terrace houses, with prices ranging from RM 43k to RM 988k. The built-up size ranges from 594 sf to 2,964 sf while the median price for a terrace house is RM 330k. The properties include the auctions, sub-sales and new launches.

Flat is the second hottest-selling property type in Penang. A total transaction of 1,700 is recorded last year while Ayer Itam recorded the highest transaction. The median price for a flat in that area is RM 120k with a median built-up of 538 sf. Based on our listings at iProperty.com.my, the flat built-up size in Ayer Itam ranges from 400 sf to 860 sf. The price starts from Rm 75k to RM 350k. These flats are all the auctions and sub-sale properties.

Apartment/Condominium is number three for the hottest selling property type in Penang. It recorded 1,691 total transactions last year. Jelutong recorded the highest number of apartment transactions in the whole of Penang. The median price for an apartment unit in Jelutong was RM 350k. The price ranges from RM 31k to RM 980k and built-up size ranges from 470 sf to 2,000 sf. These are all unfurnished, partly furnished and fully furnished apartments.

Note: Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

*Article contributed by iProperty.com.my

Bukit Mertajam is moving towards becoming the first digital city in Penang by August 2020 and will employ a concept that integrates information and communication technology (ICT) devices to monitor its environment, operations and services.

The state government’s technology partner, Smartviro Sdn Bhd, will undertake the project which aims to provide a better quality of life for Bukit Mertajam folk through the integration of the latest technology in their daily life.

Smartviro director Datuk Lee Aik Heng said air and noise pollution monitoring stations have been set up at several locations in Bukit Mertajam and this will be followed up with water pollution monitoring stations.

He said the work to develop the monitoring stations started this month and will be completed in August next year.

“Eventually, we would also include traffic cameras, facial recognition technology and student locater programme using the global positioning system (GPS) in this initiative,” he told a press conference here yesterday.

Meanwhile, Penang Women and Family Development, Gender Inclusiveness and Non-Islamic Religious Affairs Committee chairman Chong Eng said the process of transforming Bukit Mertajam into a digital city would take an area of up to 18 sq km involving 20 housing estates and surrounding areas, which costs RM500,000.

“The main objective is to provide a better quality of life using the latest technologies to communicate (information) on environmental quality and pollution source, awareness of traffic congestion, transport, services and goods, security and energy efficiency, and sustainable economic development,” she said.

Source: EdgeProp.my