The priority for this year will be to transform Penang into a smart city which is in line with Penang 2030 ‘A Family-Focused Green and Smart State’.

State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said several pilot projects were in the pipeline for such purpose.

He said the town and country planning agenda for Penang would also be carried out from now until 2030.

He added that the property market here was still strong despite reports of overhang units.

Jagdeep said Penang had 3,261 overhang residential units last year compared with 2,271 units in 2017, adding that the figures were relatively low compared to Johor and Selangor.

“The state government will control the ‘overhang’ problem.

“Penang is doing well in its housing segment with the rise in number for affordable housing units,” he told a press conference at Komtar on Monday.

Jagdeep also hoped that the federal government would initiate more affordable housing schemes in Penang.

Source: TheStar.com.my

For those who have missed some of the most popular housing projects in 2018, do not be despaired. Here are the 10 most active projects for you. 8 out of 10 in the list are affordable housing projects, each of them has been read by up to 40,000 users in 2018.

Affordable Housing @ The Zen

The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development ... Read More

Grace Harmony

Grace Harmony, the latest affordable housing by Nova Land Development Sdn. Bhd. at Jelutong, Penang. It is strategically located near Nova Place and Grace Residence by Nova Mulia Development, easily accessible ... Read More

The Tamarind

The Tamarind, a freehold executive apartments by E&O Property at Seri Tanjung Pinang, Penang. Located along Jalan Seri Tanjung Pinang 1, within walking distance to Straits Quay and Tesco. It ... Read More

Fairview Residence

Fairview Residence, an affordable housing development at Sungai Ara, Penang. Strategically located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. This is a ... Read More

Sandilands Foreshore

Sandilands Foreshore, an affordable housing development by Tanjung Villa Development Sdn. Bhd. (subsidiary of Tah Wah Group). It is strategically located at along Lintang Macallum 2 in Georgetown, just a ... Read More

One Foresta @ Bayan Lepas

One Foresta, the first i-Condo affordable housing by Ideal Property Group in Bayan Lepas, Penang. It is strategically located along Lengkok Kelicap, only a few minutes away from Penang Internation Airport, ... Read More

Mahsuri Square

Mahsuri Square, yet another proposed affordable housing at the South West district of Penang Island. It is strategically located within the established township of Bayan Baru, along Jalan Mayang Pasir ... Read More

Affordable Housing @ QuayWest Residence

QuayWest Residence, a freehold residential development located next to Penang World City in Bayan Mutiara, Penang. This development comprises 1,235 condominium units in two 24-storey towers, 253 units of which are categorized under affordable ... Read More

SenzVilles

SenzVilles, an upcoming residential development by Corfield Development Sdn. Bhd. in Sungai Ara, Penang. It is strategically located next to Skycube Residence, just a mere minutes drive away from sPICE ... Read More

The Sun @ Sungai Nibong

The Sun, yet another mixed development at Sungai Nibong, Penang. This upcoming project by Sepakat Mewah Sdn. Bhd. is strategically located along Jalan Sultan Azlan Shah, right opposite Kwang Hwa ... Read More

The increase of one per cent in stamp duty for the instrument of transfer for property exceeding RM1 million to RM 2.5 million is now effective July 1, 2019.

In a statement today, the Finance Ministry said the government would maintain the current stamp duty rate for six months from Jan 1 to June 30, 2019 to encourage the sustainability of activities in the real estate sector.

The government had previously during the tabling of the 2019 Budget, announced that the stamp duty would be raised from three per cent to four per cent for this category effective Jan 1, 2019.

Finance Minister Lim Guan Eng said the Pakatan Harapan government was very concerned and fair in determining a sufficient time frame for the transfer process to be undertaken in the interim before the new stamp duty becomes effective.

“As announced in the 2019 Budget, the government had agreed to grant a 100 per cent stamp duty exemption to first time house buyers for properties priced between RM300,000 to RM1 million,” he added.

He said for houses priced up to RM300,000, stamp duty is exempted on the instrument of transfer and loan agreement for the sale and purchase executed between Jan 1, 2019 to Dec 31, 2020.

“For homes priced between RM300,001 to RM500,000, the instrument of transfer and loan agreement is exempted, but limited to the first RM300,000, for the sale and purchase agreement completed between July 1, 2019 to Dec 31, 2020.

“However, the exemption is limited to the instrument of transfer for the purchase of houses priced between RM300,001 to RM1 million from any housing developer, from Jan 1, 2019 to June 30, 2019,” Lim said.

He also said the exemption of the stamp duty is aimed at continuing to encourage first time house purchases by Malaysians, improving the purchase of unsold units from developers, as well as boosting the property market,

“This is also a move towards overcoming the increasing residential property overhang,” Lim added.

Source: Bernama

by Anders Ong

There are so much confusion among people for categorizing the type of high rise properties. Most people cannot differentiate between flat and apartment or apartment and condominium. Thus, it is of utmost importance for us to learn each one of it to be more familiar.

Flat 

A residential title high rise without facilities, it can be a walk up low rise flat as well. Normally under low cost housing and controlled by the state government for the flat allocation.

Apartment

A greater version compared to flat with a minimal of one to three facilities such as playground, gated and guarded. It is usually categorized under affordable housing which is controlled by state government as well.

Service Suite/Service Apartment

A commercial titles high rise with basic facilities for dwelling purpose such as Small Office Home Office (SOHO). It can be use as office and as a residential purpose dwelling for Airbnb. The assessment, quit rent and utility charges are higher than residential titled property.

Condominium

A residential title high rise with a full numbers of luxury features like swimming pool, gymnasium and other facilities. Designed for residential purpose with facilities to complement a balance life style.

Penthouse

The top most unit condominium in a building which usually take up the whole floor or two floors. It is also designed to be the biggest unit most of the time.

Duplex

Technically it is a double storey terrace unit constructed in a high rise building with big glass to maximize the view and a staircase in the condominium unit to go the second floor. Some constructed in a mezzanine and some in a loft design.

Super Condo

A super low density condominium development and only have big size units, which is usually more than 2,000 square feet per unit and maximum of only 2 units per floor or 1 unit. It also come with minimum of 3-5 car park for the unit.

Remarks:
represents liveability and pricing

Anders Ong – Young Property Investor, Writer and Enthusiast of Real Estate. 

Imperial Ville, yet another development by Ideal Property Group at Sungai Ara. Located along Lintang Sungai Ara 10, surrounded by Imperial Residence, One Imperial, Idaman Lavendar 2 & 3, Idaman Cempaka and Idaman Melur. It is about 3km from Setia SPICE, 10 minutes drive to Penang International Airport.

The development will see the construction of 48-storey building, featuring 500 units of condominium with 6-level multi-storey carpark.

This project is still pending for approval, more details to be available upon official launch.

Project Name : Imperial Ville
Location : Sungai Ara
Property Type : Condominium
Tenure: Freehold
Total Units : 500
Indicative Price : (to be confirmed)
Developer : Premium Flame Development Sdn. Bhd. (Ideal Property Group)
Last Updated: Nov 2024

Location Map: