Picture is for illustration only.

Camerlina @ Ideal Vision Park, the 3rd phase of Ideal Vision Park by Ideal Homes in Bayan Lepas, Penang. This development is located along Jalan Tun Dr Awang, next to Summerskye Residences. It is only minutes away from various learning institutions including the proposed new schools: Chung San Primary School and Heng Ee Primary and Secondary Schools as well as the Straits International School.

More details to be available upon launching.

Property Project : Camerlina
Location : Ideal Vision Park, Bayan Lepas, Penang
Property Type : Mixed Development
Total Units: 480 (condo), 87 (shop office)
No. of Storey: 21
Land Tenure : Freehold
Developer : Ideal Property

Location Map:

You are cordially invited to the celebration of DNP Land 20th Anniversary and Property Showcase 2016.

Date/Time
16 – 18 September 2016 (Sunday)
10:00 AM – 5:30 PM

Venue
BM Utama Sales Gallery,
Bukit Mertajam, Penang.

PROGRAM HIGHLIGHTS

The Urban Wellbeing, Housing and Local Government Ministry is mulling a proposal for housing developers to be issued a money lending licence to help non-bankable house buyers and overcome down payment issues.

Tan Sri Noh Omar (pix), the Minister, said he observed many buyers having difficulty making down payments.

“I am thus proposing that eligible housing developers, especially those with deep-pockets like Sunway Group, EcoWorld, Mah Sing and Glomac, be issued a money lending licence.

“It will be restricted to only providing end-financing to eligible house buyers who face difficulty in securing loans from banks,” he said in his keynote address before launching the 19th National Housing and Property Summit, here today.

The minister said the proposal is a win-win situation for both developers and house buyers.

“For the developers, this end-financing facility offers a second profit centre after the sale of the houses,” he added.

Noh said another new initiative recently approved by the government is the “Rent To Own” or R2O, for all eligible buyers of the People’s Housing Project scheme.

“With the introduction of this new R20 initiative, I hope we’ll be able to resolve the long outstanding problem of non-bankable house buyers, whose income may not meet strict bank requirements,” he added.

Meanwhile, at a press conference, Noh said interested developers can start to submit an application for the money lending licence, under the Money Lender Act (Revised 2011) or Act 400 under the purview of the ministry.

He said with a money lending licence, developers can assist buyers for 100% or partial financing, while the interest rate should not exceed 18% per annum.

Source: Bernama

The Bandar Cassia affordable housing project in Batu Kawan, Nibong Tebal, is already 77% completed to date.

Penang Town, Housing and Country Planning Committee chairman Jagdeep Singh Deo said Phase One of the project featuring 520 low medium-cost and medium-cost units was ahead of schedule and the units would be ready for occupation by next June.

“The project will be completed by year-end and the Completion and Compliance Certificate (CCC) will be issued in the middle of next year.

“The state government is pushing for all its affordable housing projects to be completed on time,” he told newsmen after a site visit yesterday.

Jagdeep said that as a responsible government, Penang should set an example by completing all projects on time so that the private housing developers would follow suit.

He added that the visit was a spot check by the state Selection Process Enhancement Committee (SPEC) to ensure that state housing projects were on schedule.

Jagdeep also visited the AHS-Teluk Kumbar (Duo Residensi) affordable housing project in Teluk Kumbar.

He said the project was slightly behind schedule due to the hilly terrain and piling works.

“This is a more challenging project as it is not on flat land like Bandar Cassia but we are pushing for the contractor to finish by December 2017 which is the scheduled date.

“There are 694 affordable housing units in the Duo Residensi project and the CCC is expected to be obtained in July 2018,” he said.

Jagdeep said he and SPEC members would also visiting other affordable housing projects in Jelutong, Cecil Street, SP Chelliah, Sandiland and Perak Road soon.

Also present were Jelutong MP Jeff Ooi and Tanjung MP Ng Wei Aik.

READ MORE ABOUT AFFORDABLE HOUSING:

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

Source: TheStar.com.my

According to property consultancy firm Knight Frank Malaysia’s Real Estate Insights research report, the challenging property market has led developers to adopt “push marketing” in order to boost sales of their projects.

Among the notable ongoing marketing campaigns is Sunway Group Bhd’s “Sunway Property Certainty Campaign” that offers up to 88% financing. Others include IOI Properties Group Bhd’s deferred payment scheme of 18 to 24 months for the usual lump sum down payment, and S P Setia Bhd’s 10:90 scheme where buyers need only pay a deposit of 10%, with the remainder payable after the property is completed.

S P Setia president and CEO Datuk Khor Chap Jen said the 10:90 scheme, which is applicable to selected Setia properties, is a way to show that such programmes can co-exist with sell-and-build schemes.

Eco World Development Group Bhd (EcoWorld) also took the opportunity to “excite” its buyers with special rebates starting from July 15 to Sept 16. Repeat buyers enjoy a total of 4% rebate when they purchase their second EcoWorld property. Also, when a referrer makes a successful introduction, the person will get a total of 3% off the property’s selling price. Meanwhile, new buyers will receive a 2% rebate on top of other ongoing promotions.

Meanwhile, IJM Land Bhd has introduced the Home Triple Insurance Scheme (HomeTIPS), enabling Allianz Malaysia Bhd to underwrite three insurance schemes for IJM Land homebuyers for 36 months from the date of signing of the sales and purchase (S&P) agreement, at no additional cost.

HomeTIPS is applicable to homebuyers of selected IJM Land residential projects with selling prices ranging from RM300,000 to RM2 million, purchased directly from IJM Land from Aug 19 until December 2016.

IJM Land managing director Edward Chong told the media at the unveiling of HomeTIPS recently that this is the first scheme of its kind to be offered by a Malaysian property developer.

Source: TheEdgeProperty.com.my