Woodsland Park, a freehold affordable housing development by PTL Properties Sdn. Bhd. near Jalan Betek in Bukit Mertajam. It is strategically located next to Taman Sungai Rambai, just a stone’s throw away from SJK(C) Keow Kuang Primary School. Amenities such as schools, market, banks, shopping malls, and eateries are only a few minutes drive away.

This development will see the construction of a 23-storey high-rise building with 186 affordable units and swimming pools. Affordable housing project in the mainland is expected to be priced below RM250,000.

More details to be available upon project official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

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

Project Name: Woodsland Park
Location : Bukit Mertajam
Property Type : Affordable Housing
Built-up Size: 850 sq.ft.
Total Units: 186
Indicative Price: RM200,000
Developer : PTL Properties Sdn. Bhd.

Location Map:

SITE PROGRESS

SITE PROGRESS: Woodsland Park (Jan 2021)

SITE PROGRESS: Woodsland Park (Jan 2020)

SITE PROGRESS: Woodsland Park (Nov 2019)

No doubt 2018 is a tough year in the property industry. Penang housing continues to experience high overhang and developers are cautious in launching new projects. However, for buyers who have cash on hand, it presents an opportunity to secure a property at pricing that may not have been possible otherwise.

Despite a slow market, PenangPropertyTalk.com analytics data indicated a stable traffic in the past several months, with an average pageviews of 300,000 a month. Here is a list of 20 most active projects in Q3 2018.

At a glance, more than half of the top 20 are affordable housing projects. Top in the list is the affordable housing at The Zen condominium, followed by Grace Harmoni. These two projects are located at Bayan Mutiara and Jelutong respectively, featuring a total of more than 1,600 affordable units.

3 Residence Condominium at Karpal Singh Drive by IJM ranked third in the list. It was launched in Q3 2018, offering 478 residential unit with built-up size ranging from 850 sq.ft. onwards.

Most of the projects in the top 20 list have already been launched with the exception of two projects – Straits City and Iconic Regency, which are slated to launch by end of this year.

Despite ranked 4th in the list, Straits City is probably the next project in everyone watch list, as it is an upcoming waterfront master-planned development in Mainland by STC Singapore, offering a mix of residential and commercial components.

* Projects are ranked based on the pageviews recorded in Google Analytic web traffic report for PenangPropertyTalk.com.

– Ken Lim
(Founder and Principal Reviewer, PenangPropertyTalk.com)

Bank Negara Malaysia (BNM) is proposing a more flexible loan package with flexible interest rates and an extended maximum loan tenure for affordable home buyers, said Housing and Local Government Minister Zuraida Kamaruddin.

“We have engaged with Bank Negara and a few banks during a few sessions and Bank Negara has come up with some more flexible and relaxed terms with regards to loan application and approval. One of it is the extension of maximum loan tenure from the current 35 years to up to 40 years,” she told reporters at a press conference after the opening of the Housing Conference 2018 today.

Currently, the maximum loan tenure is 35 years or until the borrower turns 70 years old, whichever is earlier.

There are also flexi loans, flexi interest rates and a step-up scheme, which allows the amount of repayment to commensurate with the growth of the borrower’s income over the time, she added.

“This is something that is easier and more relaxed for the homebuyers so that they can plan themselves. With this sort of approach, we hope Malaysians can change our mentality and know how to plan [according to their] financial capability,” she continued.

“As an industry, we cannot remain static. We must know the needs of the market and respond positively to the demand of our customers. Our doors are always open for discussion, let us know how we can assist the industry to enhance efficiency,” she said.

Moving forward, the ministry will be working towards consolidating data and information and at the same time address data gaps that may exist, so that the policy makers, authorities and stakeholders can all count on an efficient centralised data or property information system that is effective, accurate, useful and timely, she said.

“The government will continue to provide strong support towards this important economic sector and we expect the industry to reciprocate by working closely together with us and play your part in order to satisfy the needs of the nation and make quality and affordable home ownership a reality,” she concluded.

Source: EdgeProp.my

To bring an overwhelming crowd to attend a property event is usually the toughest task for any organizers. However, Penang Property Talk have recently made a breakthrough and had proven to live up to its name as being the most popular property portal in Penang.

With the website and social media followers of more than 100,000, we have achieved yet another prominent milestone during the Penang Property Convention held recently. This yearly property convention is the biggest property event in Penang. A total of more than 600 pax registered for the event, a record-breaking number with an effort of publicity via the Penang Property Talk platform. We have spent zero fund on marketing budget for this event and yet it successfully caught the attention of many genuine buyers, property investors and property agents.

The exclusive event that took place on 29th September 2018 at Vistana Hotel Penang saw the attendance from all over the state. Attendees had the opportunity to learn the latest Penang’s property market trends, including its unique demographic and property market zoning. In-depth analysis on Penang’s future growth, accessibilities and public transportation in Penang were shared. Several other property experts also offered their take on purchasing property the right way and minimizing risk.

Compared to the previous year, the turn-up rate has marked an increase of more than 20%. Developers who participated in the event took the opportunity to showcase their projects in the hall and had their chance to promote their projects on the stage for at least 10 minutes.

Despite a slow market, the developers were cheered with an extremely encouraging response during the event. It was beyond expectation when genuine leads were generated and some even sign-up on the spot.

Mah Sing presented Ferringhi Residences II, a luxury condominium located just a stone’s throw away from the famous tourist belt of Batu Ferringhi beach. Offering 632 residential units in three blocks of 4, 10 and 32 storeys.

MTT featured their latest 6.5-acre commercial development at Botanica.CT in Balik Pulau. The development is located at the intersection of Jalan Sungai Rusa and Jalan Sungai Air Putih. It’s within 10 minutes walking distance from Prince of Wales Island International School, about 5 minutes drive to Balik Pulau town centre.

Paramount Property showcased Suasana @ Utropolis, which is the second phase of their Utropolis development at Batu Kawan. It is situated next to the upcoming KDU University College, about 5 minutes walk to Design Village outlet mall. The upcoming IKEA store is only 2km away.

Datum Jelatek, despite its projects located at KL, it had managed to close a few deals on that day.

With this successful record and a new milestone achieved, Penang Property Talk is again set to bring the biggest property event to the next level. Stay tuned and see you again in 2019.

The federal government will build a new Sekolah Jenis Kebangsaan Cina or SJK(C) in Batu Kawan costing between RM8mil and RM10mil.

Deputy Education Minister Teo Nie Ching said the school, to be built on a 2.43ha plot provided by the Penang Development Corpo­ration (PDC), is expected to be ready in 2021.

She said they would either provide a new operating licence for the school or relocate SJK(C) Kuang Yu in Kuala Muda to the site.

She said there would be 24 classrooms, with 35 pupils in each class.

“There is already a Sekolah Menengah Kebangsaan (SMK) and a Sekolah Kebangsaan (SK),” she told reporters at the PDC office in Bandar Cassia after a site visit on Sunday.

Teo said upon completion, the new school could take in 840 pupils.

“The site is suitable for a new school as there will be a big space for the pupils to carry out their activities,” she said.

Present were Penang Chief Minister Chow Kon Yeow, PDC deputy general manager II Mohd Bazid Abd Kahar, Penang Education Department director Jamil Mohamed, Bukit Tambun assemblyman Goh Choon Aik, Chinese and Mission Schools Affairs Coordinating Committee secretary Sim Phoi Yong and its committee members.

Also present were SJK(C) Kuang Yu headmistress Lee Kha Luang, school board of directors chairman Bu Theng Uu and its committee.

In his speech, Chow said the state government and the PDC would assist the ministry in building the school.

Source: TheStar.com.my