SenzVilles, a freehold 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. This development comprises a 34-storey building, offering a total of 397 condominium units, 100 units of which are categorized under affordable housing.

The affordable units comprises 3 different built-up sizes – 750 sq.ft., 850 sq.ft. and 900 sq.ft.. Indicative selling price starts from RM200,000 with 1 car park.

Project Name : Affordable @ Senzvilles 
Location : Sungai Ara, Penang
Property Type : Condominium
Total Units: 100 (affordable), 297 (condo)
Indicative Price: RM200,000 – RM400,000
Land Tenure : Freehold
Estimated completion : 2020
Developer : Corfield Development Sdn. Bhd.

Location Map:

Penang Chief Minister Chow Kon Yeow wants a better rapport to be established soonest with the federal authorities in view of the many mega projects that the state hopes to undertake.

For starters, the state would soon meet the Public Land Transport Commission (SPAD) to discuss how to expedite two mega projects in Penang.

He said the two mega projects are the triple highway package projects linking Gurney Drive, Air Itam and Tanjung Bungah with the Tun Dr Lim Chong Eu expressway.

Chow said this after opening the Bazaar Ramadan at Lebuh Queen in Little India.

He said the state should not have a problem in expediting the projects with the cooperation of the Pakatan Harapan administration in Putrajaya.

Chow said that this arrangement should ease the process in gaining approval and in finding the right model in getting the projects ready.

Penang is bogged down with constant traffic congestion due to an inefficient public transport system and the lack of infrastructure to handle the traffic situation.

Among the solutions provided under the proposed RM27 billion Penang Transport Masterplan, are a light rail transit system, a cross channel undersea tunnel and three paired highways as well as a tram service.

Source: TheSunDaily.my

Newly-appointed Housing and Local Government Minister Zuraida Kamaruddin pledged to deliver substantive improvements and ideas through the ministry.

The Ampang member of parliament said it would be an opportunity for her to delve into policies and implementations under the jurisdiction of the ministry.

“A balanced housing opportunities in urban areas for the Bumiputera, the minority rights, indigenous community and foreign nationals should be prioritised so that they live in comfortable homes.

“I would want to see an immediate reformation on safe and gender-friendly services to ensure town management and local council affairs are handled professionally.

“Community empowerment will also be given priority in line with the rapid change in the country. I’m grateful to be appointed as the cabinet minister,” said the PKR Wanita chief in a statement today.

Source: New Straits Times

by Anders Ong

Like usual every property investment book or stories will have a section named “Why Buy/Invest Property?” There are FIVE main reason WHY:-

1) Roof Over Your Head

First and foremost, the main reason of one purchasing a property in the past is always for own stay. This is to make sure there is a house for family to stay under a roof and feel safe. But from time to time it became a form of investment because a home is always a necessities instead of a needs. No one will be willing to let their loved one stay outside without a place to sleep.

2) Capital Appreciation

Capital appreciation are one of the easiest way to earn money from properties. It is simply the increment of property price from time to time due to market sentiment and economy. Once the property price increase to a certain price we can sold it off to gain from the differences of selling price and purchase price. For instance, there is a condominium in Penang Island, the standard unit of 1,000 square feet was sold for around RM280K on the year of 2010 and once it is completed on the year 2013 the price valued at RM600K. So the property value had gone up and if you sold it off you will earn around RM320K gross. It’s a generous lump sum gain for those investors in terms of capital appreciation.

3) Cash Flow

Cash flow refers to the inflow of cash time to time from the holding and management of properties. It is a very simple practice of letting properties for monthly rental return or daily return, if you bought a 950 SQ FT property in Georgetown the average monthly rental return is around RM2, 000.00 per month with partial furnishing up to RM3, 500.00 for fully furnish. If you have 10 properties rented out it will be around RM20, 000.00 per month.

4) Property Equity Building

In the past people keep thinking of saving money to build their asset and have cash to go through bad times. If we were taking mortgage loan for our house and we made monthly instalment to the bank, slowly and surely the loan will be paid off and the house will be completely loan free. It is building equity in properties or more like saving slowly in bank but we can get the house in the end. Not to forget that the price will increase due to capital appreciation and we can get cash flow for renting out as well.

5) Limited Supply of Land

In the fast moving era as of today everything could be produced in a short time and even the construction of properties become faster and easier with technology advancement. But, there is one thing that could not be produced at the moment, which is earth or lands. Thus, once the land had been fully utilized in the future it will become a scarcity and demand will be higher than supply and price will increase.

Anders Ong, an avid property investor working in property industry. 

The National House Buyers Association (HBA) has urged the federal government to address the issue of abandoned housing projects in its plans for the housing sector in Malaysia.

Speaking to FMT, HBA secretary-general Chang Kim Loong said the best way to do this was to implement the system of build-then-sell 10:90 (BTS 10:90), which it had proposed to the previous administration for several years.

Under the BTS 10:90 system, house buyers only pay the initial downpayment of 10% when booking a house and make no further payments until vacant possession of the property is delivered to them.

“Aside from being an eyesore, abandoned projects cause hardship to house buyers who need to continue with their monthly bank instalments for housing loans.

“The BTS 10:90 is a far safer mode of home delivery system and the new federal government should implement it without further delay.

“Compel the housing industry to adopt the system as we believe it will drastically, if not totally, eliminate cases of housing projects being abandoned,” he said.

Last November, then-urban wellbeing, housing and local government minister Noh Omar revealed that 253 abandoned private housing projects had been registered in Peninsular Malaysia since 2009.

This, he said, involved 64,290 residential units, of which 43,537 units had been sold.

Chang said HBA was hopeful and excited about the future, as PH’s election manifesto contained many promises which would benefit the public and house buyers.

He said these included pledges to build one million affordable homes across two terms, tax incentives for companies which focused on affordable housing, widening rent-to-own schemes and the setting up of a National Affordable Housing Council, chaired by the prime minister, to bring together various agencies and coordinate matters related to affordable housing.

“HBA also fully supports any measures to reform the 1Malaysia People’s Housing Scheme (PR1MA) as it has deviated from its original and noble aspirations to provide affordable housing.”

He said under PR1MA’s present partnership with private developers, only 50% of the allocated land area was reserved for affordable homes. The balance was reserved for commercial and lifestyle properties.

Source: Free Malaysia Today