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The perfect property is gated and guarded, near work, and has good neighbours

Property News/ 23 April 2013 10 comments

A gated and guarded neighbourhood is important when defining the perfect property.

Least important factors were identity of developer and availability of broadband internet

According to a UK survey, the perfect property is two miles from a supermarket, ten miles from the coast and within walking distance of a pub where the landlord knows your name. How about for Malaysians? StarProperty.my recently conducted a survey to find out their top criteria when it came to choosing a property.

We gave respondents 16 criteria to rank in terms of importance. These included proximity to food and beverage options, parks, markets, good schools, family, institutions, leisure facilities, work, public transport and malls, being gated and guarded, as well as having a garden, at least two parking spaces and good neighbours.

Criterion 1: Gated and guarded

Top on the list for our Malaysian respondents was being in a gated and guarded community. Nearly half the respondents voted this as the most important feature in their dream property.

This can understandably be traced to the number of break-ins and robberies which has been increasing in certain areas, so much so that many homeowners have now installed alarm and security systems.

Somewhat reflecting these findings, the gated and guarded feature has increasingly been seen as a key selling point for many projects. Round-the-clock security patrols, single entry and exit points, closed-circuit televisions (CCTV) throughout the development, perimeter fencing around the development and access cards give homeowners peace of mind.

Criterion 2: Proximity to work

The factor voted as second most important, meanwhile, was a location that was near the workplace with “not much traffic jams in between”.

After all, most Malaysians spend more than two hours a day being stuck in traffic jams, one research paper has reported. And choosing a home near the work place not only saves time but also money and energy, while helping maintain the balance of work and social life.

The amount of time wasted on the road may after all be spent taking your children to the park, catching up with friends over dinner or working out at the gym.

Criterion 3: Friendly, good and trustworthy neighbours

The third most important factor that surprisingly ranked high among most respondents was having friendly and trustworthy neighbours.

Even though it is often said that many urban Malaysians today are not familiar with their neighbours, especially in condominiums, this criterion turned out to be very high in most Malaysian property hunters’ minds.

Of course, knowing your neighbours allows us to look out for one another in times of need. For example, if you know that Jason lives in house number 60, you would know if someone other than Jason and his family were loitering in front of his house.

Criterion 4: At least two parking spaces

The respondents also agreed that having at least two parking spaces was important. The issue of parking is commonly faced by many homeowners, especially when many households these days own more than one car.

Other important factors included living within 10 minutes’ walking distance to amenities such as banks and the post office, as well as to mini markets and convenience stores.

Two respondents Soong and Wong shared that they would prefer a property with wider roads. Another respondent, Hee said a well-maintained neighbourhood is important.

“Another factor that wasn’t in the list is to have clinics and hospitals nearby your house. This is quite important for me,” said Gayathri, 30.

Least important factors

Surprisingly, two factors that hardly scored with our respondents were the company that developed the property, and having a broadband internet connection within your development. Only 2% of the respondents selected these factors as one of the criteria to define their perfect property.

Source: StarProperty.my

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Permai Suria

Tanjung Bungah/ 19 April 2013 8 comments

Permai Suria, strategically located next to TAR College, along Cangkat Lembah Permai in Tanjung Bungah, Penang. This is a residential development by Prestasi Raya Sdn. Bhd, a Kedah based developer.  It comprises one unit of bungalow and 26 units of semi-detached houses with two unique designs to choose from.

Property Name: Permai Suria
Location : Tanjung Bungah, Penang
Property Type : 2 1/2-storey semi-detached & 3-storey bungalow
Total Units: 26 (semi-d), 1 (bungalow)
Indicative Price: RM3,000,000 onwards
Land Tenure : Freehold
Developer : Prestasi Jaya Sdn. Bhd.
Contact No.: +604-421 3352

Location Map:

 

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Eco-friendly project at Burmah Road

Pulau Tikus/ 16 April 2013 11 comments

After the successful launch of Y Cantonment Townhouses, next on Yeangs Sdn. Bhd.’s list is the launch of another exclusive 19-storey residential building on the corner of Jalan Burmah and Jalan Bagan Jermal which is located in the upmarket suburb of Pulau Tikus, Penang.

This project is currently known as Burmah Road Eco, comprises of 90 units of SoHos, 2 & 3 bedroom apartments (both single units and duplex units), luxury penthouses and an upmarket restaurant within the refurbished heritage house on the site. Other amenities will include exclusive retail shops on the 2nd and 3rd floors and shared facilities on the podium level such as an infinity pool, gym and other common rooms.

The overall development will feature high quality finishes and employ the functions of natural lighting, ventilation and vertical green spaces which are the signature of Dato Dr Ken Yeang’s work.

Project Name: (To be confirmed)
Location :
 Pulau Tikus, Penang
Property Type : Mixed development
Developer : Yeangs Sdn. Bhd.

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6 Things You Should Consider When Taking Up a Home Loan

Property News/ 16 April 2013 No comments

To the common folks, choosing a home loan is almost as hard as choosing the property itself. If you’re currently in the midst of shopping for a home loan to buy the house of your dream, here are 6 things you should consider before making what would arguably be the biggest financial decision of your life.

1. Type of Home Loan

First and foremost, consider what works best for you: a Traditional Term Loan or a Flexible Home Loan (“Flexi-Loan”). A Traditional Term Loan requires you to pay a fixed amount each month for the entire tenure of your home loan (e.g. 30 years), whilst a Flexi-Loan gives you the option of reducing your interest whenever you wish (i.e. by saving your extra money into a linked current account. The more you save, the less interest you pay).

If you have a strict and predictable cash-flow pattern, a Traditional Term Loan may be best. If you prefer flexibility in paying off your loan, a Flexi-Loan is recommended.

2. Interest Rate

As of all loans, your priority should probably go to the bank that offers you the lowest interest rate. Citing an example we’ve used before: for a home loan of RM500,000 over a period of 30 years, the difference in interest between an interest rate of 4.2% and 4.15% (i.e. a mere 0.05%) could be well over RM5,000! To find out which bank offers the best home loan interest rate, check out our handy home loan comparison table.

3. Margin of Financing (How Much You Can Loan)

Depending on various factors which include the value of the property as well as your standing with the bank, different banks may offer you different Margins of Financing. As you’ll be required to pay any amount not covered by the home loan upfront, this becomes very important especially if you’re short on cash.

As an example: for a RM500,000 house, you’ll need to pay RM100,000 upfront if your Margin of Financing is 80%; but you’ll only need to pay RM50,000 upfront if your Margin of Financing is 90%.

4. Lock-In Period

Lock-In Period is the period you’ll incur a penalty (usually 2-3% of the principle loan amount) if you choose to pay off your home loan in full before it reaches the end of its tenure. When it comes to choosing a home loan, it pays to have the Lock-In Period as short as possible and the penalty as low as possible. Also, some banks do not charge a penalty at all if sufficient notice is given. For a start, you may wish to compare the Lock-In Periods of all Malaysian banks on iMoney.

5. Fees & Charges

A home loan application involves professional and government-regulated processes such as preparation and disbursement of loan agreement, payment of stamp duty and processing by the bank, just to name a few. All these processes usually come with fees & charges that will be borne by you, the buyer. In certain cases, it may also be wholly or partly borne by the banks as part of your loan packages. Hence, is it best to sit down with the loan officers (for all the banks you are considering taking your home loan from) and have them run through the fees and charges with you. The task may be repetitive and time-consuming… but it’ll be time well spent.

6. The Bank

Lastly, understand that you’ll be dealing with the bank on a very frequent basis for as long as your home loan is in effect (which may be 20 to 30 years). With that in mind, you should probably choose a bank you are very comfortable with. Some of the things you may wish to think about include:

  • Do you have an existing savings or current account with the bank (for ease of inter-account transfer)?
  • Are you satisfied with their standard of service?
  • Is a local branch available near your home or office?
  • Do you consider the bank to be trustworthy or reliable?
  • Does the bank offer value-added services that will make your life easier for the long haul?
  • How is the bank’s reputation as a whole?

Ready to choose your home loan now? Why not proceed to our home loan comparison table and see what your available options are!

This article comes courtesy of www.imoney.my which compares between the various loans, savings and insurance schemes available in Malaysia.

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Sanctuary Villa @ Permatang Sanctuary

Bukit Mertajam/ 15 April 2013 98 comments

Sanctuary Villa, second phase of Permatang Sanctuary by IJM in Alma, Bukit Mertajam. Strategically located within established neighbourhood, about a 15-minute drive from Juru Auto-City and the Penang Second Link.

Like Sanctuary Garden (phase 1), this is a guarded residential development comprises 134 units of semi-detached (side-by-side & back-to-back) and 2 units of bungalow houses.

Related Projects:

Property Project : Sanctuary Villa (Permatang Sanctuary)
Location : Permatang Tinggi, Bukit Mertajam, Penang
Property Type : 2-Storey Semi-Detached & Bungalow
Tenure : Freehold
Total Units : 134 (semi-detached), 2 (bungalow)
Indicative Price: RM750,000 onwards
Developer : IJM Land
Contact No: 04-296 1222

 

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