PROPERTIES | TYPE | SIZE (sq ft) | PRICE |
THE WATERFRONT, | CONDOMINIUM | 1,475 sq ft | From RM460,000 |
TANJUNG BUNGAH | 2,900 sq ft | From RM750,000 | |
ALILA HORIZON, | CONDOMINIUM | 1,357 sq ft, 1,388 sq ft | From RM460,000 |
TANJUNG BUNGAH | 1,421 sq ft | ||
ALILA TOWNHOUSE, | TOWNHOUSE | approx 1,400 sq ft | RM460,000 |
TANJUNG BUNGAH | |||
ALILA HOMES, | 3 STOREY TERRACE | 2,400 sq ft | RM800,000 |
TANJUNG BUNGAH | |||
E & O, SERI TANJUNG PINANG, | 2 1/2 STOREY TERRACE | Land - 24' x 80' | From RM1.1mil |
TANJUNG TOKOKNG | Built Up - 24' x 60' | ||
E & O, SERI TANJUNG PINANG, | 2 1/2 STOREY SEMI-D | Land - 3,560 sq ft | RM1.6mil |
TANJUNG TOKONG | Built Up - 3,932 sq ft | ||
HILLSIDE BUNGALOW, | BUNGALOW | Land - 7,512 sq ft | RM1.9mil |
TANJUNG BINGAH | Built Up - 3,000+ sq ft | ||
CHEE SENG, | 2 1/2 STOREY TERRACE | 2,248 sq ft | RM740,000 |
TANJUNG BUNGAH | |||
TAMAN HUTCHINGS, | TERRACE | Land - 3,702 sq ft | RM880,000 |
GREEN LANE | |||
PENANG TIMES SQUARE, | CONDOMINIUM | 1,130 sq ft | RM430,000 |
GEORGETOWN | |||
TANJUNG PARK, | TOWNHOUSE | 2,500 sq ft | RM880,000 |
TANJUNG TOKONG | |||
TANJUNG PARK, | CONDOMINIUM | 2,200 sq ft | RM780,000 |
TANJUNG TOKONG | |||
MIAMI GREEN, | CONDOMINIUM | 1,050 sq ft | From RM380,000 |
BATU FERRINGHI | |||
LEADER GARDEN, | APARTMENT | 1,050 sq ft | RM270,000 |
TANJUNG BUNGAH | |||
SEAVIEW GARDEN, | APARTMENT | 2,200 sq ft | RM600,000 |
BATU FERRINGHI | |||
THE COVE, | CONDOMINIUM | 6,000 sq ft | From RM1.5mil |
TANJUNG BUNGAH | |||
SPRINGTIDE RESIDENCES, | CONDOMINIUM | 4,100 sq ft | RM3.2mil |
TANJUNG BUNGAH |
Wednesday, July 8, 2009
Penang Property
Wednesday, June 24, 2009
The Waterfront by Taman Ratu.
The Waterfront By Taman Ratu Group.
Low density with only 68 units.
Size 1475sqf and 2950sqf.
All Seaview units.
Price ranging from
RM470,000 onwards for 1475sqf
RM770,000 onwards for 2950sqf.
2 Carparks
Saturday, June 13, 2009
Selling A House In Malaysia
1. REDEMPTION
If, at the time of sale, the house is still charged or assigned to a bank of financial institution for the loan granted to assist the purchase of the same, a redemption statement stating the amount due needs to be obtained from the financier concerned. Usually, the redemption of the house is incorporated into the sale and purchase agreement so that part of the proceeds from the sale will be utilized for that purpose.
2. REAL PROPERTY GAINS TAX
All house sellers are required to complete the Form CKHT 1 for Inland Revenue within 30 days from the date of sale and purchase agreement (Section 13 of the Real Property Gains Tax Act 1976). The sale of real property gains tax levied on all house sellers laid down in the Real Property Gains Tax Act as follows:-
If, at the time of sale, the house is still charged or assigned to a bank of financial institution for the loan granted to assist the purchase of the same, a redemption statement stating the amount due needs to be obtained from the financier concerned. Usually, the redemption of the house is incorporated into the sale and purchase agreement so that part of the proceeds from the sale will be utilized for that purpose.
2. REAL PROPERTY GAINS TAX
All house sellers are required to complete the Form CKHT 1 for Inland Revenue within 30 days from the date of sale and purchase agreement (Section 13 of the Real Property Gains Tax Act 1976). The sale of real property gains tax levied on all house sellers laid down in the Real Property Gains Tax Act as follows:-
- 30% on the profits made for sale within 2 years of purchase; /li>
- 20% on the profits made for sale in the third year of purchase;
- 10% on the profits made for sale in the fourth year of purchase;
- 5% on the profits made for sale in the fifth year of purchase;
- for sale in the sixth year of purchase and thereafter;-
- individual – 0%
- company – 5% on the profits made
Buying A House In Malaysia
1. ELIGIBILITY
All Malaysian citizens are free to purchase houses within Malaysia save for low-cost houses which can be applied for through the relevant land offices or registries based on the relevant rules for eligibility.
Houses built on Malay reserved land can only be purchased by Malays. Thirty percent of each housing project is to be reserved for Bumiputra purchasers who enjoy 5% to 8% discount on the purchase price.
Foreign purchasers are subject to the approval of the Foreign Investment Committee (FIC) of the Economic Planning Unit of the Prime Minister's Department based on the FIC "Guidelines on the Acquisition of Properties in Malaysia by Foreign Interests".
2. TITLE
There are two categories of titles:-
- freehold - which gives the owner perpetual ownership;
- leasehold - which allows the owner to stay in possession only for a specified period. When the specified period ends, ownership reverts back to the authority which issued the title.
3. FINANCING
Banks and other financial institutions have different packages of housing loan to assist house buyers in their purchase. Pursuant to a recent Bank Negara guideline, house buyers can now only obtain housing loan of up to a maximum of 60% of the purchase price for the purchase of a second or subsequent house.
Other than financing from a bank or financial institution, the Employees Provident Fund (EPF) currently provides two schemes of withdrawal for its depositors prior to attaining the age of 50:-
- for purposes of buying or building a house or a shophouse consisting of a residential unit, depositors can withdraw the difference between the purchase price and the loan obtained plus 10% of the purchase price, or 30% of the total amount deposited in the EPF whichever is lower
- for purposes of reducing or setting housing loans, depositors can withdraw 30% of the total amount deposited in the EPF, or the amount of the housing loan remaining outstanding, whichever is lower.
All purchases direct from housing developers must use the Schedule G (for purchases of houses) or the Schedule H (for purchases of apartment respectively of the Housing Developers (Control and Licensing) Act 1996 as the sale and purchase agreements. Payment of the purchase price the said Schedules G and H is by progressive payment based on completion of work as certified by the architects. Payment of the last 5% of the purchase price will be held by a firm of solicitors as stakeholders for the defect liability period, which is currently 18 months from the delivery of vacant possession.
There are no fixed rules on the form of agreement for purchases from existing house owners (more commonly called sub-sale). However, it is common practice that upon signing of the sale and purchase agreement 10% of the purchase price be paid to the seller, and the purchaser be given 3 months to pay the balance of purchase price with an extension of 1 month if he fails to do so within the first 3 months' period. Interest at the rate of 10% per annum calculated on a daily basis is normally charged for the extension period. Payment of the balance of purchase price is usually made to the solicitors acting for the seller as stakeholders to ensure redemption of the house (if the same is still charged or assigned to a bank or financial institution at the time of sale) and payment of real property gains tax by the seller.
Other than the sale and purchase agreement, a memorandum of transfer, which is Form 14A of the National Land Code 1965, must be completed to transfer the title from the seller to the purchase. In instances where the title has not been issued, then if the purchase is from a developer, the developer will undertake in the sale and purchase agreement to transfer the title when the same is issued; and if the purchase is through a sub-sale, the transfer will be through an assignment of the sale and purchase agreement between the developer and the seller (Principal SPA) to enable the buyer to take benefit of the developer's undertaking to transfer the title contained in Principal SPA.
5. STAMP DUTY
Stamp duty is levied on the document of transfer (i.e. the memorandum of transfer if the title has been issued, or the deed of assignment of Principal SPA if the title has not been issued) based on the purchase price as follows:-
6.LEGAL FEESa. 1% on the first RM100,000.00
b. 2% on the next RM400,000.00
c. 3% on the nest RM1,500,000.00 and
d. 4% on the remainder
(item 32 [a] of the Stamp Act 1949)
The first Schedule of the Solicitors Remuneration Order 1991 sets out the fees to be collected by lawyers for work done in handling the sale or purchase of house based on the purchase price as follows:-
- 1% on the first RM100,000.00
- 0.5% on the next RM4,900,000.00
- 0.25% on the remainder
Thursday, June 11, 2009
Belleview launching projects worth RM500mil on Penang Island
GEORGE TOWN: Belleview Group is launching residental and commercial properties on the island with an estimated gross development value (GDV) of more than RM500mil this year.
Group managing director Datuk Sunny Ho told a press briefing that the projects comprised 227 houses for Palmyra Residences in Balik Pulau, 1,300 condominiums at three high-rise schemes in Air Itam, 62 terraced and semi-detached properties in Bukit Dumbar, and the 1st Avenue shopping mall complex in George Town.
“We are launching now because of the lower raw materials prices. Steel, for example, is now about RM2,000 per tonne from about RM4,000 earlier this year.
“The prices of other materials have dropped by about 30% compared with earlier this year,” he said.
Banks were also offering attractive housing loans at an all-time low interest rate of 2.2% per annum, he said, adding that Belleview also believed the global economy was on its way to recovery.
The Palmyra Residences comprises double-storey terraced and semi-detached houses priced from RM373,000. The properties have built-up areas ranging between 1,625 and 1,976 sq ft.
In Air Itam, the condominium units under Melody Homes, All Seasons Park and All Seasons Place will be built on a 20-acre site, which will also house a 250,000 sq ft commercial complex.
In the third quarter, Belleview will launch 1st Avenue, a shopping mall with an estimated gross commercial area of 600,000 sq ft, next to Komtar.
By TheStar
Group managing director Datuk Sunny Ho told a press briefing that the projects comprised 227 houses for Palmyra Residences in Balik Pulau, 1,300 condominiums at three high-rise schemes in Air Itam, 62 terraced and semi-detached properties in Bukit Dumbar, and the 1st Avenue shopping mall complex in George Town.
“We are launching now because of the lower raw materials prices. Steel, for example, is now about RM2,000 per tonne from about RM4,000 earlier this year.
“The prices of other materials have dropped by about 30% compared with earlier this year,” he said.
Banks were also offering attractive housing loans at an all-time low interest rate of 2.2% per annum, he said, adding that Belleview also believed the global economy was on its way to recovery.
The Palmyra Residences comprises double-storey terraced and semi-detached houses priced from RM373,000. The properties have built-up areas ranging between 1,625 and 1,976 sq ft.
In Air Itam, the condominium units under Melody Homes, All Seasons Park and All Seasons Place will be built on a 20-acre site, which will also house a 250,000 sq ft commercial complex.
In the third quarter, Belleview will launch 1st Avenue, a shopping mall with an estimated gross commercial area of 600,000 sq ft, next to Komtar.
By TheStar
Wednesday, April 22, 2009
Properties For Rent / Sale
For Sale / Rent
Seaview Garden
2200sqft
RM620K / RM 3500
For Sale / Rent
Leader Garden
From RM250K
For Sale / Rent
Miami Green
RM 450K / RM 2000
Thursday, April 2, 2009
Uptrend in loan applications, approvals seen
PETALING JAYA: Both loan applications and approval amount for February increased month-on-month by 4.8% and 7.8% respectively, reversing their downward trend since September last year.
In February, loan applications and approvals rose to RM33.1bil and RM18bil respectively. However, the overall loans approval for the period still showed a negative annual growth of 15.9%.
The loan-to-deposit ratio was hovering at 73.6%.
Bank Negara in its February’s monetary and financial development report on Tuesday said the increase in the amount of loan applications was primarily from business sectors such as education, health and real estate. Business loan disbursements on the other hand, had moderated.
“For the household sector, the amount of loan applications and approvals was relatively stable on a month-on-month basis, supported by demand for housing loans. Loans disbursed to the household sector, especially for consumption credit, moderated during the month. Household loans outstanding expanded by 9.1% as at end February,” it said.
The credit market in Malaysia started to tighten after the Lehman Brothers’ collapse. In November, loan activities showed a very small sign of stabilisation but the one-month uptick was unsustainable, as global financial crisis continued to deteriorate. Thus, domestic financial institutions became more cautious on lending.
Apart from this crisis of confidence, Bank Negara has repeatedly assured that the banking system in Malaysia remained sound, with risk-weighted capital ratio and core capital ratio improving to 13% and 11.1% respectively in February. The net non-performing loans (NPL) amounted to RM15.8bil and remained unchanged at 2.2% of the total net loans, it said.
Bank Negara added that financing to the private sector through banking system loans and private debt securities (PDS -bonds, notes, loan stocks and commercial papers) outstanding increased at an annual rate of 10.9% in February.
“Gross financing raised by the private sector from the banking system and capital market amounted to RM45.2bil in February,” it said.
During the month, net funds raised in the capital market recorded a net redemption of RM3.9bil.
In the public sector, gross funds totalling RM10.5bil was raised through the issuance of 10-year Government Investment Issues and 3.5-year Malaysian Government Securities.
Meanwhile, gross funds raised by the private sector were higher at RM1.9bil.
The bulk of PDS issuances was to finance new activity and for refinancing purposes.
By TheStar
In February, loan applications and approvals rose to RM33.1bil and RM18bil respectively. However, the overall loans approval for the period still showed a negative annual growth of 15.9%.
The loan-to-deposit ratio was hovering at 73.6%.
Bank Negara in its February’s monetary and financial development report on Tuesday said the increase in the amount of loan applications was primarily from business sectors such as education, health and real estate. Business loan disbursements on the other hand, had moderated.
“For the household sector, the amount of loan applications and approvals was relatively stable on a month-on-month basis, supported by demand for housing loans. Loans disbursed to the household sector, especially for consumption credit, moderated during the month. Household loans outstanding expanded by 9.1% as at end February,” it said.
The credit market in Malaysia started to tighten after the Lehman Brothers’ collapse. In November, loan activities showed a very small sign of stabilisation but the one-month uptick was unsustainable, as global financial crisis continued to deteriorate. Thus, domestic financial institutions became more cautious on lending.
Apart from this crisis of confidence, Bank Negara has repeatedly assured that the banking system in Malaysia remained sound, with risk-weighted capital ratio and core capital ratio improving to 13% and 11.1% respectively in February. The net non-performing loans (NPL) amounted to RM15.8bil and remained unchanged at 2.2% of the total net loans, it said.
Bank Negara added that financing to the private sector through banking system loans and private debt securities (PDS -bonds, notes, loan stocks and commercial papers) outstanding increased at an annual rate of 10.9% in February.
“Gross financing raised by the private sector from the banking system and capital market amounted to RM45.2bil in February,” it said.
During the month, net funds raised in the capital market recorded a net redemption of RM3.9bil.
In the public sector, gross funds totalling RM10.5bil was raised through the issuance of 10-year Government Investment Issues and 3.5-year Malaysian Government Securities.
Meanwhile, gross funds raised by the private sector were higher at RM1.9bil.
The bulk of PDS issuances was to finance new activity and for refinancing purposes.
By TheStar
Friday, March 27, 2009
Property Fair kicks off in Penang.
TOUTED as the biggest one-stop property, home and lifestyle exhibitions in the northern region, The Star Property & Home Fair 2007 is certainly an event not to be missed.
Occupying both the concourse and arena area of the Penang International Sports Arena (PISA), the three-day fair starts Friday from 11am to 9pm daily. Admission is free.
There are more than 200 booths showcasing the products of over 100 exhibitors with the biggest being Henry Butcher (32 booths) which is also the technical advisor for talks and forums.
Be it residential, commercial or industrial units, the choices are aplenty depending on one’s budget and preference.
Purchasers who sign up for their home sweet home during the fair will also enjoy great benefits and freebies.
Among the developers are IJM Properties, Emerald Capital Development, Ideal Homes Properties, Setia Promenade (S P Setia), Richmont Sapphire, Asia Green Development, Bertam Properties, CP Landmark and DNP Land.
The event promises to be an exciting day for prospective homebuyers as everything is under one roof including home financing packages and other home-related services.
Exhibitors are expecting a great response following the announcement in Budget 2008 that EPF contributors would be allowed to make monthly withdrawals from their Account Two for housing loan repayment.
And don’t miss the property auctions conducted by Henry Butcher. It is going to be bargains galore with choice residential and commercial properties going under the hammer at unbelievably low prices.
On the home fair front, there will be all types of new home products ranging from furnishings to decorations, lighting, security systems, electrical appliances, gardening products as well as personal computers and home theatres.
Get inspired by the many innovative inventions that are bound to light up your lives.
The talks and forums by property and property-related professionals are something visitors can also look forward to.
Heritage enthusiasts should not miss the talk on The Inner City of George Town: Conservations and Values at 3pm tomorrow by director of Valuation & Property Services Department, Ministry of Finance, Sr Lau Wai Seang.
This is followed by New Housing Laws – Property Management & Transactions by advocate and solicitor Lena Leong (4pm and also at noon on Sunday) and Feng shui – How to select a good feng shui property by Professor Master David Koh from the Malaysian Institute of Geomancy Science (5pm).
The forums will kick off on Saturday with The Health of the Penang Residential Market (11am) by Sr. Lau, Everything You Should Know About Property Protection (12pm) by Ong Whee Wei of GSA International Sdn Bhd and Buying Smartly From A Developer (1pm) by Chok Keng Vui of Ivory Properties Group.
Expatriates looking to live in Malaysia should attend the Malaysia My 2nd Home Programme talk by The Expat magazine pub- lisher Andy Davison at 2pm and again at 11am on Sunday.
Glean useful information from the forums on Property Management – What are your rights & obligations by Associate Professor Dr Tiun Ling Ta and Taxation & You by tax consultant Loraine Kijvanit.
Lastly, the ever popular topic of Feng shui – How does it affect the value of your property? will be covered by Master David Koh at 5pm.
Sunday will have talks touching on Eight Ways to Smart Financing by Simon Tan Hooi Hwa of RHB Bank (1pm), Indian Feng Shui by T. Selva (2pm), The Future of Penang – Real Estate & Government Planning by director of Planning and Development MPPP Maimunah Mohd Sharif (3pm).
Other interesting topics are Comparing NCER with IDR & Klang Valley by Ho Chin Soon (4pm), Property & Landlords – Targeting the Japanese Market by Shotaro Ishihara of Tropical Resort Lifestyle (MM2H) Sdn Bhd (5pm) and Auspicious Home Feng Shui by Master Phang Zhong Hwa (6pm).
The property fair also promises prizes galore with RM40,000 worth of goodies sponsored by IJM and Gintell up for grabs daily.
Simply cut out the contest form from StarMetro on Thursday (national edition), and Friday and Saturday (northern edition). The completed form must be rubber-stamped at eight property exhibitors’ booths with IJM and Gintell being compulsory.
Each visitor is allowed to redeem only one gift while stocks last and on a first-come-first-serve basis (terms and conditions apply).
By TheStar
Occupying both the concourse and arena area of the Penang International Sports Arena (PISA), the three-day fair starts Friday from 11am to 9pm daily. Admission is free.
There are more than 200 booths showcasing the products of over 100 exhibitors with the biggest being Henry Butcher (32 booths) which is also the technical advisor for talks and forums.
Be it residential, commercial or industrial units, the choices are aplenty depending on one’s budget and preference.
Purchasers who sign up for their home sweet home during the fair will also enjoy great benefits and freebies.
Among the developers are IJM Properties, Emerald Capital Development, Ideal Homes Properties, Setia Promenade (S P Setia), Richmont Sapphire, Asia Green Development, Bertam Properties, CP Landmark and DNP Land.
The event promises to be an exciting day for prospective homebuyers as everything is under one roof including home financing packages and other home-related services.
Exhibitors are expecting a great response following the announcement in Budget 2008 that EPF contributors would be allowed to make monthly withdrawals from their Account Two for housing loan repayment.
And don’t miss the property auctions conducted by Henry Butcher. It is going to be bargains galore with choice residential and commercial properties going under the hammer at unbelievably low prices.
On the home fair front, there will be all types of new home products ranging from furnishings to decorations, lighting, security systems, electrical appliances, gardening products as well as personal computers and home theatres.
Get inspired by the many innovative inventions that are bound to light up your lives.
The talks and forums by property and property-related professionals are something visitors can also look forward to.
Heritage enthusiasts should not miss the talk on The Inner City of George Town: Conservations and Values at 3pm tomorrow by director of Valuation & Property Services Department, Ministry of Finance, Sr Lau Wai Seang.
This is followed by New Housing Laws – Property Management & Transactions by advocate and solicitor Lena Leong (4pm and also at noon on Sunday) and Feng shui – How to select a good feng shui property by Professor Master David Koh from the Malaysian Institute of Geomancy Science (5pm).
The forums will kick off on Saturday with The Health of the Penang Residential Market (11am) by Sr. Lau, Everything You Should Know About Property Protection (12pm) by Ong Whee Wei of GSA International Sdn Bhd and Buying Smartly From A Developer (1pm) by Chok Keng Vui of Ivory Properties Group.
Expatriates looking to live in Malaysia should attend the Malaysia My 2nd Home Programme talk by The Expat magazine pub- lisher Andy Davison at 2pm and again at 11am on Sunday.
Glean useful information from the forums on Property Management – What are your rights & obligations by Associate Professor Dr Tiun Ling Ta and Taxation & You by tax consultant Loraine Kijvanit.
Lastly, the ever popular topic of Feng shui – How does it affect the value of your property? will be covered by Master David Koh at 5pm.
Sunday will have talks touching on Eight Ways to Smart Financing by Simon Tan Hooi Hwa of RHB Bank (1pm), Indian Feng Shui by T. Selva (2pm), The Future of Penang – Real Estate & Government Planning by director of Planning and Development MPPP Maimunah Mohd Sharif (3pm).
Other interesting topics are Comparing NCER with IDR & Klang Valley by Ho Chin Soon (4pm), Property & Landlords – Targeting the Japanese Market by Shotaro Ishihara of Tropical Resort Lifestyle (MM2H) Sdn Bhd (5pm) and Auspicious Home Feng Shui by Master Phang Zhong Hwa (6pm).
The property fair also promises prizes galore with RM40,000 worth of goodies sponsored by IJM and Gintell up for grabs daily.
Simply cut out the contest form from StarMetro on Thursday (national edition), and Friday and Saturday (northern edition). The completed form must be rubber-stamped at eight property exhibitors’ booths with IJM and Gintell being compulsory.
Each visitor is allowed to redeem only one gift while stocks last and on a first-come-first-serve basis (terms and conditions apply).
By TheStar
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