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5 REASONS WHY VR TOURS ARE THE FUTURE OF PROPERTY VIEWING

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Virtual reality (VR) brings the virtual and real world together by meeting real world needs with innovative digital solutions.Ever since Google started showing every lane and highway with its Googl...

Virtual reality (VR) brings the virtual and real world together by meeting real world needs with innovative digital solutions.Ever since Google started showing every lane and highway with its Google Street View, technology has improved so much in recent years that the world has become smaller and more accessible.Today, with VR Home Tours, we can view properties without needing to be physically on site. Property owners can also use VR as a tool to show and sell their properties.PropertyPricetag.com shows you why VR Home Tour is the way to go for both homeowners and house buyers alike.#5 Save CostImage credit: StockUnlimitedPeople like saving time and money, and so do we. House shopping is a time-consuming affair, and going from house to house means a higher fuel tab. With VR Home Tours, you can explore properties that are far away with just a click, wherever you are, whatever time of the day.#4 Safety FirstThere are many spine-chilling reports about rapes and robberies that occur during house viewing sessions. It is important to always be alert and avoid showing or viewing a house by yourself for safetys sake. One advantage of VR house tours is that you will be able to list your property for sale without dealing with too many strangers entering your house. Similarly, buyers can also view properties in peace, knowing that the listings are verified, and not just a picture taken from the Internet.#3 Wider AudienceThere were 21 million and counting internet users in Malaysia in 2016. When you post your VR Home Listing online, you can target a national, if not international, audience. It is an easy way to mass market your home instead of waiting for someone to spot your For Sale sign on your gate.#2 Easy to UseTired of attending open house after open house? Imagine viewing 10 houses of your choice in less than hour without budging from your couch. You can actually feel as if you were inside the house when you put on the VR goggles* and move from room to room at your own pace. For sellers, its a 24-hour open house!*VR tours can be seen without goggles too.#1 Tech ReadyLeading property portals around the world are offering services to help sellers market their properties virtually. You can enlist their help to do a virtual tour of your home and market it online.Here are some websites that have done it around the world.The United Kingdom: www.bovishomes.co.ukAustralia: mcdonaldjoneshomes.com.auPhilippines: www.zipmatch.comIndia: www.proptiger.comMalaysia: www.propertypricetag.comSIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

5 GOODBYES AND ALMOST GONE IN TAMAN TUN DR ISMAIL

Ttdilrt

Image source: theskop.com::UPDATED::Taman Tun Dr Ismail aka TTDI is a well known upper middle-class residential area at the border of Kuala Lumpur and Selangor. Named after the second deputy Prime ...

Image source: theskop.com::UPDATED::Taman Tun Dr Ismail aka TTDI is a well known upper middle-class residential area at the border of Kuala Lumpur and Selangor. Named after the second deputy Prime Minister, Tun Dr Ismail Abdul Rahman, after the township development began in 1973. Today we see many upcoming high-rise residential buildings in the area as TTDI is the most sought after residential area with the KL postcode but away from the hustle-bustle of the city centre.Property Pricetag has sorted out some landmarks that have been there or will be gone in TTDI.#5 ROADS NAMED AFTER FAMOUS PEOPLE Image credit: https://www.flickr.com/photos/liuruxia/7829991958Almost all the roads in TTDI are named after prominent Malaysian figures who contributed to Malaysia one way or another.Dato’ Aminuddin Baki - He was named the ‘Father of Education’ (Tokoh Pendidikan) and the former Education Director.Tun Muhammad Fuad Stephens - He was the first and fifth Chief Minister of Sabah. He founded the political party United National Kadazan Organisation (UNKO) in 1961.Tun Datuk Patinggi Abang Haji Openg Abang Sapiee - He was the first Governor of Sarawak when the post was created in 1963.Tun Leong Yew Koh - The first and only Chinese Yang Dipertua Negeri of Malacca. He founded Malayan Chinese Association (MCA) with Tun Tan Cheng Lock and Colonel HS Lee.Dr Burharuddin Al-Helmy - He founded Parti Kebangsaan Melayu Malaya (PKMM) who was strongly against the British colonial ruling and demanded Malaya's full independence.Abdul Rahim Kajai - Real name Abdul Rahim Haji Salim. He was known as the ‘Father of Malay Journalism’. He served many newspaper and publishing establishments since 1925 until World War II in 1943.Tan Sri & Puan Sri Athi Nahappan - Both husband and wife contributed in different ways but for the same goal in Malaya. Tan Sri Athi Nahappan was a deputy minister in law at the Prime Minister’s (Tun Abdul Razak) office. He wrote the “Athi Nahappan Report” which is now stored in the Harvard library as a basis for how local governments should function. Puan Sri Athi Nahappan was a figure of the Malaysian Independence movement and a co-founder of Malaysian Indian Congress (MIC). She was one of the first women who fought for Malaya’s independence.Za’aba - His full name is Zainal Abidin Ahmad. He was a Malaysian writer who modernised the Malay language that we use today. He was also involved in the formation of United Malay Nation Organisation (UMNO).Source: Wikipedia#4 LOCATION OF JAYA JUSCO PILOT STOREPhoto credit: pahitmanissekeluarga.blogspot.my, Malaxi.comTTDI was the second location for Jaya Jusco to open their pilot store in 1985. Business was at this location for ten years before it relocated the brand new premise in One Utama.Source: http://www.aeonretail.com.my/corporate/about/history/#3 TAMAN TUN DR ISMAIL WET MARKETPhoto credit: The Star Online, fotokl2012.blogspot.myBack in 2012, the TTDI market was in line for demolition to make way for new development and later on the location was picked for the new MRT station. However, the residents protested, the government reviewed the proposal and called it off.TTDI market has been around for over 30 years. It is said to be one of the cleaner and dryer wet markets in town. Over 200 stalls for fresh produce and everything you possibly need for your next dish. On the second floor, it’s a food haven for foodies. You could get mouthwatering delights from nasi lemak to satay at the food court. Bonus fact, TTDI Wet Market is part of a triplet design, they are including the Gombak Wet Market, Jalan Gombak and Cheras Wet Market at Jalan Siakap, Cheras. #2 SOARING HOME PRICESImage source: www.aoweibang.comCan you believe that a single-storey link house in TTDI was priced at RM34,000 back in the 1970’s can now fetch around RM1 million or more if it is renovated or extended. That’s almost 3000% jump in 40 years. Among the factors that may have affected the jump would be the development in the surrounding like offices and mega shopping malls like One Utama and IKEA, close accessibility to major expressways such as LDP, NKVE and Penchala Link. One other major factor is the new MRT station which has begun its’ service December 16th. This would be a major factor for property prices to increase in TTDI.Source: http://www.theedgeproperty.com.my/my/content/984795/future-looks-bright-ttdi#1 TAMAN RIMBA KIARAImage source: Lowyat.netRimba Kiara Park has received a lot of attention this year as there was massive media coverage regarding the new high-rise development by Tan Sri Desmond Lim Siew Choon’s Memang Perkasa Sdn Bhd. There will be a 29-storey affordable housing block and eight blocks of service apartments from 42 to 54 levels. The total units were said to be more than 2000 units. They said the forest is not going to be affected but the current residents say otherwise. The density of people per acre in TTDI increased from 60 to 979.The initial plan was to build affordable houses for the residents of the 100 longhouses. They were promised proper housing more than three decades ago after the rubber estate was being developed. Longhouses were just a temporary solution but the matter dragged on until some of them have lived there for four generations.Source:http://www.nst.com.my/news/2016/06/154951/ttdi-residents-say-no-apartment-development-taman-rimba-kiarahttp://www.thestar.com.my/metro/community/2016/06/27/call-for-taman-rimba-kiara-to-be-gazetted-residents-not-against-affordable-housing-for-longhouse-fol/Additional Bonus Fact:Image source: WikipediaMalaysian-based petroleum company, PETRONAS opened its first petrol station in Taman Tun Dr Ismail in 1981. The station has two food fast food outlets (KFC and Subway) and a post office attached to it. It is located along Pinggir Zaaba.*Additional information are contributed by those who commented on our Facebook page. We will update the article periodically as we gather more information. Thank you very much for sharing your knowledge.*SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

THE HIDDEN COSTS YOU SHOULD KNOW ABOUT

Water

Are you living alone in your snazzy studio apartment and wondering why your water bill is higher than your sister and her family of 4 who lives in the condo next door?It could be because you are pa...

Are you living alone in your snazzy studio apartment and wondering why your water bill is higher than your sister and her family of 4 who lives in the condo next door?It could be because you are paying commercial rates.Apartments that come with commercial titles pay much higher rates than those with residential titles.For example, the minimum monthly bill for a residential Syabas bill is RM6, while commercial bills start at RM36. Thats right. Even if you are away most of the month, you still have to pay that minimum amount.Not just that. You also pay commercial rates for electricity, assessment tax and quit rent. For example, DBKLs annual assessment rates for serviced apartments are 7%, while condo owners only pay 4%.Source: Tenaga National BerhadSometimes, service providers may allow you to convert to a residential contract if you ask nicely and can provide proof that you are not running a business at the premises.Developers may also apply for the title to include residential apartments to qualify for a mixed rate, which is in between commercial shops and residential homes. But many still prefer to sell apartments with commercial titles as they can build smaller units with higher plot ratios.Doesnt seem very fair that homeowners have to pay so much more just because their home is built on a different type of land, does it? And often, many buyers are unaware of the differences when they buy a new apartment.There is a push for new guidelines and regulations so that owners of service apartments can enjoy residential property benefits.But until then, make sure you ask the right questions, read the fine print and count the cost before signing the SPA.SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

WHAT YOU NEED TO KNOW IF YOU ARE BUYING A PROPERTY IN CASH

House trap

The National House Buyers Association (HBA)  recently published an article titled, “House buyers’ trap” — how some house buyers were losing their homes because of unscrupulous developers. While man...

The National House Buyers Association (HBA)  recently published an article titled, “House buyers’ trap” — how some house buyers were losing their homes because of unscrupulous developers. While many were interested to know what the article covered, they found it a bit tough wading through the entire piece (how to vet through Sales & Purchase Agreements (SPA), like that?!)Anyway, PropertyPricetag.com pulled out the key facts from the HBA article ... so you know how to avoid losing your home.Who actually (almost) lost their home?HBA highlighted a case in Taiping, which made the news a few years ago.In 2002, six buyers paid cash for their houses in Taman Suria Permai to the developer, KS Properties Sdn Bhd.However, the developer didn't pay their own loan to their bank, which held the house titles.Oblivious, the buyers moved into the houses and lived there for 10 years.Then in 2008, the owner of KS Properties passed away, and the debt collection agency (which had taken over the bad debt) began to foreclose on the properties and evict the owners. After some legal tussles and sleepless nights, some of the owners ended up at the auction house to bid for their own house and pay off the developer’s debt.The only bright part of the story was the touching moment when other bidders refused to bid so that the owners could buy back their homes. How did that happen?Under the Housing Ministry’s prescribed SPA (what many buyers never read through):Buyers pay for the building of the house from day one.Developers can borrow from their banks using the buyer’s property as security.Essentially, there is no risk for the developer. And if it defaults, as in the Taiping case, the banks can go after the buyers’ properties. Legally.Who was to blame in the Taiping (and other similar) case?Apart from the obvious (ie the Developer), the HBA cites:a. The Housing MinistryThe standard SPA then had no control over how much the developer should be allowed to borrow, for what purpose and by when it should be settled.The developer takes a bridging loan on the property before it's sold to you. And after it's sold, the developer can keep borrowing … on the property that you are paying for. Needless to say, each developer loan increases your risks, as a buyer.Developers should be liable for their own bridging loans, not the purchasers. The Housing Ministry should ensure that buyers are given an absolute undertaking — by the developer and their bank — that they will not face foreclosure if they have paid for their purchase.b. The BankThe bank did not insist on prompt repayments by the developer. Interest on the loan ballooned, and when it became clear that the developer was unable to pay, then only did the creditors sprang into action to get back its money … from the home buyers.What has been done about it?In 2015, amendments to the Housing Development (Control and Licensing) Act 1966 (HDA) give some added protection to house buyers, especially cash purchasers.a. Cash Buyers to pay straight to BankA new rule requires cash buyers to pay directly to the bridging financier the instalments for the redemption sum — to redeem the unit from being charged to the bank.b. Developers to pay off their loans earlierAmendments to the SPA also now require developers to settle the redemption sum within the earlier stages of development. That way, when the property is handed over, it is free from the developer’s encumbrances and safe from foreclosure (by the developer’s bank).        Whether or not these amendments are adequate enough to prevent the Taiping case from happening again, it is good for house buyers to be aware of the possible pitfalls and put in your own legal safeguards in your SPAs, especially if you are paying with cash. (So yes, do read through your SPAs!)SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

5 AFFORDABLE HOUSING SCHEMES AND HOW TO GET ONE

Affordable housing

Are you a first-time home buyer? Perhaps you need a boost in owning your first home.**Update: (18/01/2017) Monthly household income for PR1MA Housing Scheme has increased to RM15,000.**We noticed t...

Are you a first-time home buyer? Perhaps you need a boost in owning your first home.**Update: (18/01/2017) Monthly household income for PR1MA Housing Scheme has increased to RM15,000.**We noticed that many Malaysians were vulnerable to property scams (as noted in our 5 PROPERTY SCAMS article) because they are not aware of the PROPER procedures to obtain housing under the various government schemes. Capitalising on buyers’ inexperience, con artists guide them down the wrong path, with empty promises leading to empty wallets.Propertypricetag.com would like to shed some light on these schemes by presenting 5 Affordable Housing Schemes and how to get your hands on one.#5 PR1MA HOUSING SCHEME PR1MA Bandar Bukit Mahkota, KajangImage source: PR1MA HousesThe PR1MA Housing Scheme is a popular and well marketing scheme established under the PR1MA Act in 2012. The PR1MA housing agency is tasked to plan, develop construct and maintain high-quality housing for the middle-income group in key urban cities. Launch and construction on these homes have begun in various key urban areas in the country.PR1MA homes come in various sizes and are priced between RM100,000 and RM400,000. PR1MA also offers financial schemes through their panel banks and an option to rent-to-own, if homebuyers are unable to secure a loan with the panel banks.How to qualify?Be a Malaysian citizenBe aged 21 years and aboveHave individual or combined household income (both applicant and spouse) between RM2,500 and RM15,000 per monthOwn no more than one property between you and your spouseHow to apply?Only apply via the PR1MA’s official websiteApplicants will be notified of new PR1MA development launches in preferred areaApplicants will have to register for a balloting process when the development is open for applicationSuccessful applicants can then choose their preferred unit based on a first come, first serve basisChoose your financing schemeNote:PR1MA has NOT appointed any agents or representatives to sell or make bookings, and they do not request any deposit or advance payment for registration.Read our 5 PROPERTY SCAMS MALAYSIANS FELL FOR, and don’t be a victim.#4 PROJEK PERUMAHAN RAKYAT (PPR)   Image credit: Malaysia EditionProjek Perumahan Rakyat (PPR), or People’s Housing Project, is a Federal Government initiative to provide housing to squatters and low-income group and have been active since 2002. The program is implemented by the National Housing Department (JPN) under the Ministry of Urban Wellbeing, Housing and Local Government,across the country.Basically, there are three types of PPR units namely Highrise apartments, 5-storey walk-up flats, and terrace houses. All units have a minimum area of 700sf, with 3bedrooms, 2 bathrooms, living room and kitchen.Those who qualify for PPR Housing have the option to rent the houses at a monthly rate of RM124, or own it at RM35,000.How to qualify?Be a Malaysian citizen aged 18 years and aboveBe a first time home buyerHave a total Household income below RM3,000Adhere to the other terms and conditions set by each local state governmentHow to apply?All applications must be done at the local state governments’ offices in every state.For more information: National Housing Department#3 RUMAH TRANSIT 1MALAYSIA KUALA LUMPUR (RT1M)Rumah Transit 1Malaysia, Bukit JalilImage credit: Harian MetroInitiated in 2014, 1Malaysia Transit Home Program initiated (RT1M) is a programme designed to provide temporary housing to newly married couples for two years. The aim is to give couples enough time to stabilise their financial status and save enough money to buy their own house. The first project is in Bukit Jalil, with a monthly rental of RM250. A notice to vacate will be issued 6 months before the contract expires.How to qualify?Must be Malaysian citizens (applicant and spouse) and married within a yearBe aged 30 years and belowNot own any properties in Kuala LumpurBe working in Kuala LumpurHousehold income must be RM3,000 or lessMust not have any criminal recordNot allowed to sublet the houseHow to apply?Download application and statutory declaration form from the Ministry of Urban Wellbeing, Housing and Local Government website and complete the formsPost completed forms to            Bahagian Perancangan Dan Pembangunan Projek PPR            Jabatan Kementerian Bandar, Perumahan Dan Kerajaan Tempatan            Aras 35, No 51, Persiaran Perdana Presint 4            61200, Putrajaya#2 RUMAH MAMPU MILIK WILAYAH PERSEKUTUAN (RUMAWIP)Residensi DesamasImage credit: accetera from Lowyat ForumRUMAWIP provides affordable houses in the Federal Territories, based on the applicant’s repayment ability. There will be a total of 50,000 units in Kuala Lumpur, 20,000 units in Putrajaya and 10,000 units in Labuan. RUMAWIP offers 3 types of strata-titled houses, that is, studio, 1-bedded, 2-bedded and 3-bedded units.How to qualify?Be a Malaysian citizen aged 18 and above;Have a gross monthly household income not exceeding RM10,000 for individuals, and RM15,000 for couples;Priority if you are working or living in the Federal Territories during application and do not own any property in the Federal Territories;Must live in the house and not rent it out (a 10-year moratorium on the property prohibits name transfer or selling without the permission of the government, except to the next of kin)Can only own one RUMAWIP houseMust not be declared bankruptedUpon successful application, have to pay 10% deposit of the property’s selling priceHow to apply?Register online at the official RUMAWIP website and create a profileSubmit an application online when there’s an open application for new developmentIf successful, submit supporting documents according to the checklist and the statutory declaration formIf eligible for balloting, an invitation email will be sent with information on the balloting process. (You may appoint a proxy on your behalf, with the submission of the ‘Surat Perlantikan Proksi’)If balloting is successful, a letter of verification will be emailed to the applicantThe developer will issue an offer letter for purchase to successful applicants and deal with the buyers from then on#1 RUMAH SELANGORKURumah Selangorku Jenis C 900-999 kp, Ukay Indah, Sg. SeringImage source: Lembaga Perumahan dan Hartanah SelangorRumah Selangorku is a housing scheme offered by the Selangor State Government to supply low-cost, low-medium-cost and medium cost houses for the low and medium income group in the state.The state government aims to build 20,000 units of Rumah Selangorku houses. There are 4 types of houses available (Types A, B, C and D), with sizes from 700 to 1,200 sf.. The price range from RM42,000 to RM250,000.Selangor State Government also provides some financing with Dana-Sel, for those who are unable to secure a bank loan.How to qualify?Be a Malaysian citizen, aged 18 years old and aboveMinimum monthly household income not more than RM3,000 (for Type A), and not more than RM10,000 for Types B, C and DOnly apply for one typeMust not own any property in any government or private housing projects in Selangor (both applicant and spouse)Ownership transfer can only be done after five years from the date of Sale and Purchase agreement signedProperty must be owner-occupied and cannot be rented outApplicants to note:Applicants must create an account in the Sistem Pendaftaran Permohonan Rumah Selangorku (SPPRS) and Sistem Pendaftaran Permohonan Kedai/Industri Mampu Milik (SPPKI).Each account is valid for two (2) years. Accounts with waiting list application will be remove after 2 years. If applicant is still interested, another application must be submitted.If an applicant rejects any offer, the account will be inactive for 2 years. New application can be submitted after the 2 years.Any applicant who is not eligible may update their account and submit necessary documents as proof to be eligible to apply through the scheme.Since January 1, 2015, all applications for Rumah Selangorku Type B, C and D must be submitted online.Only Rumah Selangorku Type A application forms can be submit by hand personally to the Pejabat Lembaga Perumahan Dan Hartanah Selangor (Kaunter Bahagian Perumahan, Podium Selatan) at Level 5, Podium Selatan, Bangunan Sultan Salahuddin Abdul Aziz Shah, 40503 Shah Alam, Selangor.Source: http://lphs.selangor.gov.my/index.php/pages/view/55Additional reading:5 WAYS TO GET $$$ FOR YOUR NEW HOME SIGN UP with Propertypricetag.com to check the latest transacted prices in these neighbourhoods. List your property for FREE or check out our many cool 360 videos. Follow our Facebook page for more insights and updates on the property market in Malaysia. 

TOP 10 MONEY TREE CONDOS

10 star performing condos 5

Looking to double your money? Well, if you are a lucky owner of one of these condos, you might have already done that. Check out how much these star performing condos have appreciated from 2014 to ...

Looking to double your money? Well, if you are a lucky owner of one of these condos, you might have already done that. Check out how much these star performing condos have appreciated from 2014 to 2015, and maybe you can do the same. (Hint: Most of these condos are priced under RM500,000.)#10 Bukit Mas Apartment, MelawatiCapital Gain from 2014 to 201521%2015 Price PsfRM230 psfAverage Price in 2015RM220,000Bukit Mas apartment is a low density low-rise development in the established township of Bukit Mas, Kuala Lumpur. Units are sized at 945 sq ft, with 3 bedrooms and 2 bathrooms, and a balcony. There are ample parking bays. The apartment is surrounded by greenery, creating a fresh and serene environment, which keeps the homes cool. The average transacted prices in 2015 was RM230 psf, a 21% increase from the RM190 psf in 2014. A 945 sf unit was last sold at RM280,000 in Jan 2016. #9 Vista Angkasa, Bangsar SouthCapital Gain from 2014 to 201521%2015 Price PsfRM402 psfAverage Price in 2015RM235,000Located at the entrance of Kerinchi from the Federal Highway, Vista Angkasa is in close proximity to the KL Gateway development and Universiti LRT station. It has studio units with built-ups from 581 sf to 1,900 sf. Residents typically include students from University Malaya and working professionals. The price of studio units increased 21%, from an average of RM331 psf in 2014 to RM402 psf in 2015. The highest recent transaction was at RM440,000 for a 936 sf unit in Feb 2016, pushing the price psf even higher to RM470.#8 Villa Tropika @ Pudu Impian IICapital Gain from 2014 to 201521%2015 Price PsfRM454 psfAverage Price in 2015RM425,000Villa Tropika @ Pudu Impian II offers four massive 20-storey blocks. Each unit come with 936 sf built-up, three bedrooms and two bathrooms. Facilities include parking bays, gymnasium, playground, swimming pool and 24-hour security surveillance. This is a leasehold development.Transacted prices rose 22%, from RM374 psf in 2014 to RM454 psf. One unit would be valued at RM425,000 in 2015. The highest transaction in 2015 is at RM460,000 for the 963 sf unit.#7 Menara Pelangi, BrickfieldsCapital Gain from 2014 to 201522%2015 Price PsfRM557 psfAverage Price in 2015RM440,000Menara Pelangi is a low-density residence at Lorong Ang Seng 2, Brickfields, sandwiched between other high-rise apartments, such as Sri Impian Condominium and Pearl Court. It is about 1km away from KL Sentral transportation hub. Built-ups of units are from 790 sf. Average transacted prices rose 22%, from RM456 psf in 2014 to RM557 psf in 2015. In fact, the highest transaction for the 797 sf unit in 2015 was RM490,000, or RM615 psf.#6 Pelangi Indah Condominium, Jalan IpohCapital Gain from 2014 to 201524%2015 Price PsfRM335 psfAverage Price in 2015RM291,000Pelangi Indah is the a modern condominium found at 4 mile, Jalan Ipoh. This freehold property comprises two 20-storey blocks with 290 units. The built-up size of each apartment ranges from 870 sf to 2084 sf. The entire floor plan is similar with 3 bedrooms and 2 bathrooms, except for the duplex penthouses, which have 4 bedrooms and 3 bathrooms.The 883 sf units were transacted at an average of RM270 psf in 2014, increasing 26% to RM335 psf in 2015. Current asking prices in 2016 start at RM 340,000 for the 883 sf units.#5 Pangsa Murni, SetapakCapital Gain from 2014 to 201526%2015 Price PsfRM402 psfAverage Price in 2015RM395,000Pangsa Murni is an apartment complex at Wangsa Maju,Setapak, Kuala Lumpur. There are a total of 14 blocks, with each walk-up block having 3, 4 or 5 floors. Nearby developments include Wangsa Jaya, Sri Kenangan and Section 6. Units were transacted at an average of RM319 psf in 2014 and rose 26% to RM402 psf by 2015. #4 Suria Jelatek Residence, Ampang HilirCapital Gain from 2014 to 201526%2015 Price PsfRM494 psfAverage Price in 2015RM425,000Suria Jelatek is a luxury condominium development located in the upmarket area of Ampang Hilir, Kuala Lumpur. It consists of a 21-storey block with 340 apartment units. The built-ups for each apartment ranges from 858 sf to 1,420 sf.

BANGSAR SOUTH—你可能不知道的5件事

Bangsar south

Kerinchi 由麻雀变凤凰转变的故事俨然是城中话题,如今这里已是城中其中一个房地产热卖的地点。早在 2005 年,UOA 集团即已收购这片声名狼藉,随处都是违章建筑、非法摊贩和廉价屋的 60 亩土地 。从此,Kerinchi 渐渐脱胎换骨,其主要入口处有了个人造瀑布横空出世,马路和人行道拓宽了,巴士车站和轻快铁车站全面翻新,甚至多了一座焕然一新的美食及购物中心......这里形成了一个崭...

Kerinchi 由麻雀变凤凰转变的故事俨然是城中话题,如今这里已是城中其中一个房地产热卖的地点。早在 2005 年,UOA 集团即已收购这片声名狼藉,随处都是违章建筑、非法摊贩和廉价屋的 60 亩土地 。从此,Kerinchi 渐渐脱胎换骨,其主要入口处有了个人造瀑布横空出世,马路和人行道拓宽了,巴士车站和轻快铁车站全面翻新,甚至多了一座焕然一新的美食及购物中心......这里形成了一个崭新的综合“城市”开发计划,项目包括了摩登的办公楼,豪华共管公寓 以及零售和商业单位。这座新“城市”有了一个新名字 “Bangsar South” —— 因为她和极富美誉的Bangsar高档区域毗邻并享同一组邮递区号。 然而,她的崛起并不全然归功于一个精明的品牌重塑运动。反之,是她和吉隆坡市中心策略性的位置,令她展现独得天厚的潜力。今天,她仍然是许多新晋发展计划的温床,其中包括 Suez Domain Sdn Bhd 集所有高级共管公寓,办公大厦,零售中心集于一体的 KL Gateway,以及 Bon Estates 即将推出的崭新豪华公寓 — The Estate 。PropertyPricetag.com带你巡视 Bangsar South,发掘5个你可能不知道关于 Bangsar South 的事。1. 你仍可在城市中央占一席之地没有人不想在 Bangsar 優越的地理位置拥有一间房子;这里够氣派、超時髦,生活便利,唯一令人却步的是向天看涨的房价。幸好,跨过一座桥至 Bangsar South,你即可获得类似和相仿房子的替代选择,这些选项的可行性和可信度都高,最重要的是高贵而不贵(当然房价会因市场需求增加而逐渐看涨)。让我们来比较一下:在 Bangsar,一间 2809平方尺的 Araville 公寓售价为 260万令吉,即每平方尺 925令吉。而 Bangsar Peak 公寓则每平方尺叫价 1235令吉,一间2982 的单位必须以 369万令吉的房价售出。但在 Bangsar South,Park Residence 一间面积 1911 平方尺的非永久地契物业售价约为 150万令吉,意即每平方尺 803令吉,那是2014年的市价。 以新登场的 The Estate 为例,据闻一间面积宽达 2500平方尺的公寓,每平方尺的价格是 750令吉,房价为 170万令吉,而且是永久地契 。2. 生活机能超便利Bangsar South 公共交通四通八达,轻快站在步行距離之內.几步之遥就是轻快铁车站,不只一座,而是两座。两条轻快铁直达 KL Sentral ——这是通往巴生谷各定点的交通枢纽 , 也包括了双子塔。跨过人行天桥先来到 Kerinchi 站,步行大约12分钟便能到达 Universiti 站。(自从Suez Capital 新发展计划启动之后,后者已在 “Station Naming Rights” 测试计划下易名为 KL Gateway-Universiti。)这里的购物中心包括了——五层楼的 Nexus 和三层楼的 Sphere;不久之后,KL Gateway 将会多出一座面积达50万平方尺的大型购物商场。其他生活机能选项不一而足,餐馆、咖啡馆、商店、宴会厅等等,多元选择应有尽有,琳琅满目不胜枚举。位于 The Sphere 的 Aeon Big 更是采购日常用品的最佳场所,你再也不必为了买一罐火腿而去 Mid Valley Megamall 人挤人。3. 秘密通道带你直达 SPRINT 大道Bangsar South 紧靠三条主要大道,即联邦大道、SPRINT 大道以及 New Pantai 高速大道。如今,还多出一条直通 SPRINT 的秘密捷径。这也许不算什么秘密,不过这条道路的确很新,如果不是因为 Waze,我们不可能发现这一条令人喜出望外的小路。 这条长达800公尺新道路由 DBKL 及区内数个发展商集资完成,它从已扩充的 Jalan Kerinchi Kiri 连接到 SPRINT 大道上的 Kerinchi Link,甚至连接到联邦大道。 所以,你可以选择避开 Jalan Kerinchi 和 Jalan Pantai Baru 路口,绕道而行。4. 这里办公大楼群聚 — 目前至少已有24栋 …UOA 的发展计划中有一半是商业区,光是受 MSC 认证的 Bangsar South City 便矗立了 22栋 Horizon 精品办公大楼和 21座 Vertical 精品办公大楼(另外两栋已在施工中,尚有两座正在筹建)。至于KL Gateway,也将迎来另外两栋A级企业办公大楼。乍听之下,高楼大厦仿佛很多,但实际上已比原先计划减少许多。原本的计划是打算在 Horizon 兴建 39栋办公大楼,然而发展商最后决定以少换大——兴建更少的大型建筑来换取更宽广的户外大自然绿意,从而吸引规模更大的集团和跨国公司进驻。Dagang Net、F-Secure、Takaful Ikhlas Berhad、MEPS、Melilea International、British Telecoms、 SWIFT 以及总部设在阿联酋的 Al Bath Group 仅仅是部份在此驻扎的大公司。在可以预见的将来,这里持续成长的上班族将跃升 2至 3万名,其中相当大的比例会是外籍人士。5. 大片森林做后盾Bangsar South 的邻居其实是一片巨大的绿肺 —— 占地 200 英亩的 Bukit Gasing 森林保护区。清新宜人、心旷神怡。当你一时厌倦钢筋水泥,转个身即可接收大自然为你准备好的另一道丰盛飨宴。沐浴在步道小径上,穿越丛林享受一趟洗涤人心的晨间散步。Bangsar South 及其周边地区日益受欢迎,难免衍生出随之而来一些令人担忧的问题,例如会不会导致更多的环境破坏甚至森林保护区受侵占的范围会不会扩大。虽然我们乐见改变和重建,但也不忘祈求今后这里一切的发展项目,都能在环保永续的前提下进行。马上登入便可在 Propertypricetag.com 免费查看最新成交价或买卖房屋。 关注我们的 Facebook 便能掌握大马产业市场最新走向和深度报道。

5 PROPERTY TAXES EVERY PROPERTY OWNER SHOULD KNOW

Meetjoeblack

::UPDATED::“We all know that this deal is as certain as Death and TAXES”Anthony Hopkins to Brad Pitt, Meet Joe BlackTAXES. No one is free from it (unless you are Donald Trump … haha). But seriously...

::UPDATED::“We all know that this deal is as certain as Death and TAXES”Anthony Hopkins to Brad Pitt, Meet Joe BlackTAXES. No one is free from it (unless you are Donald Trump … haha). But seriously, there are some key property taxes that all property owners should know by heart, and if you don’t, read on for a gentle reminder.#1    STAMP DUTYStamp duty is a tax that is levied on documents involved in the purchase of a property.A buyer would have to pay stamp duty on the instrument of transfer (ie. the Sales and Purchase Agreement or the Memorandum of Transfer).The amount of stamp duty depends on the value of the property’s selling price or market value (as determined by the Inland Revenue Board), whichever is higher. How to calculate Stamp Duty?For example:-Assuming you buy a RM700,000 property.If you are taking a loan on your property, you also need to pay stamp duty on your loan documents. For a typical first time homebuyer taking a 90% loan, the stamp duty is 0.5% of the loan amount, ie RM3,150 for the RM700,000 home in the example above.Calculate stamp duty here.#2    GST FOR COMMERCIAL PROPERTYThe Goods and Service Tax (GST) was implemented on April 1, 2015 at a fixed rate of 6%.Malaysian Custom has decided that individuals are considered carrying out a business if they have more than two commercial properties; or land exceeding 1 acre; or if the commercial property/land is worth more than RM2 million at market price; or if your total annual taxable supply is more than RM 500,000.If you have more 3 commercial properties or annual rental income of more than RM 500,000, read more about GST registrationhere.If you are renting or buying a commercial property from a GST-registered landlord or seller, you will have to pay 6% GST.Take, for example, Billy, who is GST registered and has 3 commercial properties; Shop A, Shop B, Shop C.If Shop A was sold to Company X for RM 2 million. Company X would have to pay 6% GST, or RM120,000, for the purchase of Shop A.If Shop B was rented out to Jack at an annual rate of RM 600,000. Jack would have to pay 6% GST on his rent, that is, an additional RM36,000 a year. #3    PROPERTY ASSESSMENT TAX (CUKAI TAKSIRAN/CUKAI PINTU)Now that you have bought a property, what next? Well, you will start paying your local council for property assessment tax (cukai pintu/cukai taksiran) of course! Each household is taxed to fund the construction and maintenance of the surrounding infrastructure, ie your longkang cleaning, road repairs, park maintenance and street lights in your local Taman. That’s why most people lodge their complaints on their clogged drains to DBKL, MBPJ and other local councils.This tax is calculated based on the estimated annual rental value of your property. The rates is determined by local authorities or state governments. The annual rental value of a property varies according to property type (service apartment, residential, office, low-cost flats, etc.), market rate, location and condition of the property. For example,A service apartment in Kuala Lumpur (DBKL)Another example, a residential in Selangor (MBSA):-The assessment tax is payable in two installments annually, on or before 28 or 29 February (for January to June) and on or before 31 August (for July to December).#4    QUIT RENT (CUKAI TANAH)Quit Rent or Cukai Tanah is charged by the State Governments to landowners. It is payable once a year to the land office on or before May 31. The amount of quit rent payable varies from state to state and within each state. Take for example a 40’ x 80’ house,a)    In Kuala Lumpur, the quit rent rate is about RM 0.035 per sq ft/annum, or RM112 a year;b)   In Petaling, Selangor the quit rent is RM 0.325 per sq m/annum, or RM96.50 a year.You can pay your quit rent online at the Department of Director General of Lands and Mines website or via your online banking facilities.For strata title properties, such as condominiums and service apartments, quit rent is paid to the Joint Management Body (JMB) and Management Corporation (MC), who will then forward it to the land office cumulatively. There has been cases where quit rent payment is delayed or neglected by the JMB or MC, which in turn jeopardises the application strata titles (as reportedhere).  So keep an eye on your JMB’s accounts to make sure all taxes are paid. #5    REAL PROPERTY GAIN TAX (RPGT)And of course, if you sell your property within 5 years of ownership, you need to pay RPGT (Real Property Gain Tax). This tax is charged on the profit, or net chargeable gains, from the sale of the property. The chargeable gains in net gains after deduction of certain allowable incidental costs, such as legal fees, estate agency fees, repairs and renovation costs.For instance, if you bought a property on June1, 2012, forRM500,000 and sells it on May 1, 2016, at RM700,000, you’ll have to pay RPGT on your gain of RM200,000 (less approved deductions).Here’s how you calculate:-RPGT is only chargeable if there is a profit gained from the disposal of the property. As such, you don't have to pay RPGT if the property is sold at the same or lower than your purchase price.Each individual is also entitled to a one-time RPGT exemption when selling their "private residence", which is certified for occupation as a residene. This exemption does not apply to commercial properties for commercial use.Transfer of property between family members by way of love and affection (at no gain or loss) is also exempted fro RPGT. This includes transfer between spouses, parent and child, and grandparents and grandchildren. (Note: Transfer between siblings are not exempted.)If you are not entitled to these exemption, then hold on to your property for at least 5 years to avoid paying RPGT, and be sure to keep all your receipts for your allowable deductions.Now that we have taxed your brain, make sure you take these property taxes into account the next time you want to buy or sell a property! =)Sources: The Sun Daily, Majlis Bandaraya Shah Alam, Dewan Bandaraya Kuala LumpurSIGN UP with Propertypricetag.com, you can check the latest transacted prices or list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.

5 THINGS YOU MUST CHECK WHEN BUYING A SERVICE APARTMENT

01 cover photo3

Found a swanky new condo but just learned that it is a service apartment ? Not sure what that means and how it affects you? Read on!They come by various fancy labels, but generally SOHOs (small off...

Found a swanky new condo but just learned that it is a service apartment ? Not sure what that means and how it affects you? Read on!They come by various fancy labels, but generally SOHOs (small office, home office), SOVOs (small office, versatile office), SOFOs (small office, flexible office), SOLOs (small office, lifestyle office), serviced suites, lifestyle suites fall under the service apartment category.In the past, service residences referred to professionally managed properties for short-term or long-term stays with housekeeping services and business facilities, such as those run by Ascott, Frasers, Dorsett, etc.However, most of the “service apartments” that we see today don’t offer such services but are basically apartments built on commercial land or as part of a mixed development.So are apartments by any other name just the same?Or is there more to it than meets the eye?PropertyPricetag.com shares 5 things you should know when buying a service apartment.#5 Check if the property is covered by the Housing Development Act (HDA)The HDA protects buyers of residential properties from developers who abandon projects and abscond with all their monies. Service apartments that have been classified as residential properties also fall under the HDA, and offer the same protection to buyers.However, other commercial-titled properties, which may include SOFOs, SOVOs, Serviced Suites, may not come under the HDA.Developers of non-HDA projects do not need to get a Housing Developer’s Licence or apply for an Advertising Permit and Housing Development Account before launching and collecting deposits and payments. That means you may need to pay up to 80% of your property price long before its completion! Tip: Check with the developer if they are following the HDA — if they are, you are in safer hands!#4 Check if you can afford to stay in oneServiced apartments are built on land with commercial status, so be aware of the hidden costs. These may include higher deposits, higher utility bills (electricity, water and sewerage bills will cost more), higher quit rent and higher assessment fees. For example, apartments built on commercial land are charged a minimum of RM36 a month for their Syabas water bill, regardless of whether you turn on the tap or not. Those living in apartments with residential titles can apply for individual meters to enjoy the same rates as owners of landed residential properties. However, service apartments are not eligible for those rate. Some developers try to negotiate for lower rates with utility companies or to reclassify the apartments, but this is usually on a case to case basis.Tip: Before you sign on the dotted line, check whether the developer has obtained any concessions on lower rates. If not, make sure you calculate how the additional costs will affect you and if you are able to afford them. #3 Check how many neighbours you’ll haveCommercial developments usually qualify for a higher density compared to residential developments. This means that the same piece of land can have more than double the number of apartments if it had a commercial title instead of a residential one. For example, for a 4-acre residential land, assuming the developer gets approval to build 120 units per acre, you are looking at a maximum of 480 condominium units. A 4-acre piece of commercial land, with a plot ratio of 5, can house about 930 units of 700sf service apartments (more if the units are smaller) — talk about high density living!Tip: Find out how many units there are in the development before deciding to buy! You may also want to check if there are enough car parks for everybody.#2 Check if you are subsidising your neighbors!Many service apartments are now built together with other components such as hotels, shopping mall and car parks on the same piece of land. But some of these components are wholly owned by developers or sold to other parties. Shopping malls and hotels clock up much higher utilities bills. Are these parties contributing their fair share to the maintenance fund? Or are you subsidising their operations?In 2015, the new Strata Management Act has allowed for separation of Joint Management Bodies depending on the component on building to form Sub-Management Committees that could charge different maintenance fees for different areas that are clearly separated and solely used for that component to prevent unfair usage of the maintenance funds. However, older service apartments that were formed before the act came into place might not have restructured and have maintained the previous one fee for all structures.Tip: Before your purchase, check with the Management Corporation or JMB if the maintenance fees are being shared by all parties equally or if the service apartment component is clearly separated.#1 Check if you have ownership of the facilitiesMany people choose to live in a condo because of the swanky facilities that come with it. However, some mixed developments and service apartments may actually not include car parks or the use of facilities with the apartment. You may have to end up renting a car park or paying a monthly membership subscription to use the pool or tennis courts.Tip: Make sure you check what sort of access you have to the facilities and if there are any fees involved. Better safe than sorry ;)The convenience of living above a shopping mall or right next to your office may be a big draw for you. However, before you commit to a booking fee or downpayment, be sure to ask the right questions, read the fine prints, and weigh the pros and cons. Check out our service apartment listings below!THE GRAND SOFO | RM488,000 (FOR SALE)AVENUE CREST | RM300,000 (FOR SALE)SIGN UP with Propertypricetag.com, you can check the latest transacted prices or list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.

5 COOL WORKSPACES IN KL

5 cool workspaces in kl

The working culture has evolved through the years. Inspirational spaces and coffee is a must have to get through a day’s work. Many start-up companies demand for spaces but does not have the budg...

The working culture has evolved through the years. Inspirational spaces and coffee is a must have to get through a day’s work. Many start-up companies demand for spaces but does not have the budget for it. Property Pricetag took a look around town for some eye candy workspaces that left us drooling to work in.Looking for a space yourself? Fill up our buyers’ concierge form here and we can help.1) THE CO. - BANGSAREver wanted to work in a Co-Working space?Singapore based The Co. has two established two co-working offices in Kuala Lumpur’s prime areas, namely, Bangsar and The Row, Jalan Doraisamy.The Co.@Bangsar is a converted bungalow located in the entrepreneurial neighbourhood of Bangsar. With a massive 6,000 square feet of floor space, it features private suites, meeting spaces and event venues.This location attracts many freelancers and entrepreneurs as it’s about 5 minutes away from the Bangsar LRT station. Don’t worry about running low on caffeine, there a café attached.2) APW - BANGSARWhat about working in a … factory?Check out APW (A Place Where), the latest go to event spaces for fashion shows, weekend bazaars and exhibitions. This 70,000 square feet ex-printing factory was repurposed into a campus for co-workspace, F&B outlets, event venues and even a pocket park for you to soak up some sun!The co-workspace, Uppercase, is located in the 6,000 square feet loft of the factory. It has a high ceiling and plenty of natural light.  Also, you won’t go hungry while working here. APW houses two F&B outlets currently, namely PULP and Breakfast Thieves, so coffee fiends and food Instagrammers shall not be disappointed.  3) KFIT - BANGSAR SOUTHThere is a rumor about a pretty FIT startup in town.KFit-lah!  Being one of the fastest growing fitness start-up in town, KFit bumped up their office game at The Vertical, Bangsar South. Designed to be the ‘fittest’ office in town, they have table tennis, mini basketball court and a dancing pole! Talk about showing off!4) FERUNI - PETALING JAYATalent Centre - Express your creativityDon’t work for a startup? Fear not! There are plenty of innovative and forward thinking companies that have reinvented their working spaces. Like Feruni, who have revamped their entire space with showroom and workspaces open for tour. The building has a gym, pool table, foosball table, a library, cozy corner, talent corner, audition room, auditorium and not forgetting Happiness Café where staff get free coffee. 5) DiGi - SHAH ALAMAnd then, there’s DiGI!I mean, which other company has their own waterfall besides DiGi’s D’House? Located in Subang Hi Tech Industrial Park, Shah Alam. Digizens can have the meetings and discussion at The Courtyard overlooking the waterfall. The building is fitted with glass walls making offices open and transparent for natural light. The Work Zone is open concept with cluster tables. With no fixed desk, Digizens just plug and play anywhere. At Digi, they play as hard as they work. The Townhall which hold training and event doubles as a basketball court. There’s a gym for Digizens to work out and food area to replenish their energy.Now that you are all drooling, try nudging your bosses to motivate everyone by moving to an inspirational workspaces. We have shortlisted some rare gems for you. Good luck!AVAILABLE NOWSEKEPING JUGRA – OFF OLD KLANG ROAD – FOR RENTPLAZA AZALEA – SEKSYEN 14, SHAH ALAM – FOR SALENot what you're looking for? Drop us a Buyers Concierge inquiry and we will find it for you!SIGN UP with Propertypricetag.com, you can check the latest transacted prices or list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.

TOP 10 SMALLEST APARTMENTS IN KLANG VALLEY

Smallest homes

How small can a house be in Malaysia? Do you think that cabinet space living only exists in high density countries like Hong Kong and Singapore? With house prices outstripping affordability, Mal...

How small can a house be in Malaysia? Do you think that cabinet space living only exists in high density countries like Hong Kong and Singapore? With house prices outstripping affordability, Malaysians simply cannot afford big spaces when they are just starting out. The trend of small homes isn’t just in Hong Kong and Singapore – they are also in Malaysia! Check out our list of 10 smallest homes we found in KL & Klang Valley.10) Zeva @ Equine SouthBuilt-up: 455 sf Completion: 2015 Approximate Price: RM188,000 Indicated price psf: RM555 Developer: Trinity GroupStarting at 455 sq ft, Zeva is the biggest in our list. The 766 units apartments is located in the bustling town of Serdang and spread over 3.71 acres. The main reason for the Mickey Mouse size is to fit into the tight budget of the young people in the area. Nonetheless, with many universities nearby, there is good rental demand for this well located development. 9) Garden Plaza, CyberjayaBuilt-up: 450 sf Completion: 2015 Approximate Price: RM280,000 Indicated price psf: RM658 Developer: Mah Sing GroupAnother student focused development is Garden Plaza, which is within walking distance and directly linked to Limkokwing University. Mah Sing has planned Garden Plaza to  specifically cater for the student lifestyle with a retail plaza called Garden Boulevard. The retail stores, supermarket, convenience stores and service stores are absolute plus points for students who live there most of the week.8) Metropolitan Square, Damansara PerdanaBuilt-up: 450 sf Completion: 2013 Approximate Price: RM400,000 Indicated price psf: RM599 Developer: MK Land HoldingsFor young office workers and outstation execs, there is Metropolitan Square. The development has a good yield from tenants working in surrounding offices in Mutiara Damansara and Damansara Perdana such as PJ Trade Centre & Menara UAC, Menara KLK and many more. The building has many facilities, including 6 pools, 2 badminton courts, 2 playgrounds and even a reflexology path. Propertypricetag.com has several units available in VR. Check out Metropolitan Square HERE.7) Solstice @ Pan’gaea, CyberjayaBuilt-up: 450 sf Completion: 2016 Approximate Price: RM340,000 Indicated price psf: RM759 Developer: OSK PropertySolstice is only completing this year and has a slightly higher pricetag than similar properties in the area. However, being within close proximity to the many higher education institutions at Cyberjaya, there is a constant stream of ready student tenants, which is attractive to investors. 6) Main Place Residence, Subang JayaBuilt-up: 418 sf Completion: 2014 Approximate Price: RM300,000 Indicated price psf: RM620 Developer: Bina Puri PropertiesInvestors of Main Place Residence are assured of high rental yield due to many expats and students in this area. This development is a serviced apartment built on an upscale retail mall, and comprises of facilities such as an infinity-edged pool, gym, lounge, sauna, launderette, 3-tier security system and 24-hour CCTV surveillance. Residents can enjoy free parking for the first 4 years, but will be charged on a rental basis after the initial period. Rentals are close to 4.8% for the current pricetag.5) Menara Rajawali, Subang JayaBuilt-up: 400 sf Completion: 2013 Approximate Price: from RM175,000 Indicated price psf: RM679 Developer: Link VenturesOne of the older small units in Subang Jaya is Menara Rajawali. Capitalising on its location on the same row as INTI College, Metropolitan College and Taylor's College, it is clear that it is built for college students from out of town. 4) Ritze Perdana 1, Damansara PerdanaBuilt-up: 382 sf Completion: 2006 Approximate Price: RM260,000 Indicated price psf: RM745 Developer: Usaha Hartamas Hitting the 3XX sq ft is Rite Perdana in Damansara Perdana. The units are so small that its open-concept bathrooms can be seen from the living area. Having guests and friends over will certainly add some excitement!3) Empire Damansara, Damansara PerdanaBuilt-up: 363 sf Completion: 2013 Approximate Price: RM268,000 Indicated price psf: RM737 Developer: Mammoth Empire GroupEveryone has heard of the compact units of Empire Damansara. Surprisingly, it only sits at No. 3 on our list. Empire's studio units were launched at about RM172,800 for 363 sf — lower than neighbouring Ritze Perdana 1 (RM180,000) and Neo Damansara (RM240,000), to appeal to investors. Car parks are not provided but can be rented on a monthly basis, as part of its pricing strategy.2) Maytower, Dang WangiBuilt-up: 351 sf Completion: 2007 Approximate Price: RM370,000 Indicated price psf: RM955 Developer: MaylandSurprisingly, this is the ONLY entry on our list with a Kuala Lumpur address. Built a long time ago, in 2007, the development escapes the local council's (DBKL) recent restriction on service apartments minimum sizing. Maytower is situated in the centre of the commercial and trading hub in Dang Wangi. Savvy owners can profit from renting their units out on a short-term basis. Maytower remains a solid investment choice as it is only a few kilometres away from KLCC. Type A has the smallest built-up size (351 sf), which is ideal for renting out and can bring up to 5% in gross rental yield.1) centreSTAGE Designer Suites @ PJ Section 13Built-up: 301 sf (Type A) Completion: 2014 Approximate Price: RM 295,000 Indicated price psf: RM980 Developer: Cherish Springs (a subsidiary of Leadmont Group)Topping our smallest homes in KL & Klang Valley is none other than... TADA... centreSTAGE. centreSTAGE is also the most expensive small unit on our list, hitting almost RM1,000 psf for a PJ address. centreSTAGE consists of miniature designer office suites for individual living, with built-up sizes starting at 301 sf. To give an illusion of larger space, the bathroom is fully cladded in glass – just like Ritze Perdana – so having guests over would be (ahem …) interesting! This integrated leasehold development has more than 30 units per floor. Without doubt, centreSTAGE takes the crown for having the smallest residential unit in Klang Valley (and would probably remain so due to new minimum size restrictions in Selangor)!CONCLUSIONFrom our compilation, it seems like these units are mainly built for investment returns from student rental as they are located close to universities;Generally, the price psf is quite steep even for Cyberjaya, making the absolute price near to RM400,000. For a similar price you can get a landed property in Sungai Buloh;If you are thinking of buying something this small, you might only find them in the sub-sale market from now on as  DBKL has restricted the construction of any service apartments under 650 sq ft;Selangor has also placed a restriction on SOHO/SOVO to no less than 450 sqft and for Service Apartments, no less than 550 sq ft (as of Sept 2016);Price pressure is shrinking our units but there are always good deals in the sub-sale market. Drop us a Buyers Concierge inquiry and we will find it for you!SIGN UP with Propertypricetag.com, you can check the latest transacted prices or list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.

HOW COFFEE HELPS YOU FIND GOOD PROPERTY BUYS

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Everyone and their uncle have their own theories on how to track property values and spot undervalued markets.Some of them are based on gut feel, while others have complicated calculations that no ...

Everyone and their uncle have their own theories on how to track property values and spot undervalued markets.Some of them are based on gut feel, while others have complicated calculations that no one else may understand.So we decided to come up with a simple, yet fairly effective, way to analyse property values that can be read over a cup of coffee.Presenting the PropertyPricetag.com Café Index — the caffeine-laced guide on property price trends.The Coffee ConnectionMalaysia has been growing coffee for centuries, and the humble kopitiam is a staple watering hole for local communities to gather and exchange the latest gossip.However, in the late-1990s, a whole new coffee culture was introduced.Coffee Bean & Tea Leaf entered the Malaysian market in 1997, offering RM10 lattes in air-conditioned designer cafés, followed by Starbucks, Gloria Jeans and many other franchises and home-grown brands. And these specialised coffee shops are still brewing strong today.While your grandmothers may still never bring themselves to pay so much for a cup of coffee, a whole generation of Malaysians have grown up slurping Ice Blendeds and sipping cappuccinos.Generally, these are aged 20 to 50 who watch too much American TV and have money to spend. This makes cafés serving gourmet coffee somewhat of a symbol of affluent society. Of course, it is also reflective of good infrastructure and amenities in a well served community.PropertyPricetag.com Café IndexSo our simple hypothesis …People with money to spare for gourmet coffee are most probably also people who are able to spend money on property. Or vice versa — if they can afford a RM1 million house, they can spare RM10 for coffee. (Or at least their kids will).And where these people are — where the money is — more specialty cafés will set up shop.So the number of cafés there are may be a good indicator of a neighbourhood where property prices are most likely to rise. Sounds far-fetched? Take another sip, and read on. Distilling the ProcessWe didn't just poop out this theory like the civet cat. Rather, we picked through the coffee cherries, graded and sorting and processed them, before roasting and grinding the beans for your reading pleasure.PropertyPricetag.com’s able research team scoured the Web and maps for weeks to track the number of cafés in the Klang Valley.Our main criteria was simple — these places had to serve coffee priced RM10 and above. This included the mainstream big brands, the hipster joints, and the family eateries — from Gloria Jeans and Espresso Lab, to Secret Recipe and Plan B. We then mapped the cafés based on postcodes and calculated the density of these outlets in that neighbourhood.Then we juxtaposed the café density against the 2015 average residential property prices of those neighbourhoods.As you can see from this graph, there is a positive co-relation between property prices and the number of cafés per sq km.For example, neighbourhoods with fewer than 1 café per sq km have homes priced at an average of RM500 psf or less. These are places such as Seri Kembangan, Sungai Buloh and Shah Alam.While neighbourhoods with 3-4 cafés per sq km have homes priced at an average of about RM1,000 psf. These are prime addresses such as Bangsar and the KLCC area.There are some outliers, such as the unusually high density of 9 cafés/km2 at postcode 50400, due to its small land area. There are also areas with high density of cafés, but with prices that fall below the trend line. This is an interesting way to identify up-and-coming or "undervalued" neighbourhoods that still have upside potential in its home prices.This is especially true in old areas that are gradually being gentrified as newer businesses move into the area.Section 17, PJ — with a café density of 6 yet priced below an average of RM670 psf — is one such example. The once-sleepy hollow has been described as a new "Culinary Suburbia", with several cafés and dessert places brightening up rows of worn-out shop lots and 40-year-old apartment blocks, renewing interest in the neighbourhood that had been better known for UM students and retirees. Another neighbourhood to watch is Subang Jaya, with a café density of 3.21 and an average price of RM550 psf. With a new city center and LRT lines, and definitely lots more cafés on the way, property prices are likely to continue trending upward.The map below shows another perspective of the Café Index. The darker the colour on the map indicates areas where the density of cafés are a lot more compared with the average price of homes.How does this affect me?Take a drive through a neighbourhood and see the types of shops in there. If you notice a number of cafés in the area, you can get a good feel of the home prices there.And it might not be a bad idea to start scouting around for good buys in Section 17, PJ, and Subang Jaya, while you are at it.In summary, PropertyPricetag.com Café Index highlights the correlation between property prices and prevalence of specialised coffee joints.While it's not a definitive indicator of property price trends, it’s definitely an interesting relationship to take into consideration.So wake up ... and smell the coffee ... the next time you are wondering where to put your money. Want more insights? Find out what other factors affect property prices in The Secret Atlas of Greater KL! Buy a copy now at RM118 (with free shipping).SIGN UP with Propertypricetag.com to check the latest transacted prices in these neighbourhoods. List your property for FREE or check out our many cool 360 videos. Follow our Facebook page for more insights and updates on the property market in Malaysia. 

END OF AN ERA

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Long-time Petaling Jaya residents will say goodbye to yet another landmark in their neighbourhood.British American Tobacco (M) Bhd (BAT) has signed a conditional agreement to sell two parcels of la...

Long-time Petaling Jaya residents will say goodbye to yet another landmark in their neighbourhood.British American Tobacco (M) Bhd (BAT) has signed a conditional agreement to sell two parcels of land with buildings at Jalan Universiti, Petaling Jaya. to construction company LGB Properties (M) Sdn Bhd for RM218mil.BAT announced on March 17, 2016, that it will cease its manufacturing operations in the country due to high excise duty and the sharp rise in illegal cigarette sales. The company will, instead, source its tobacco products from other BAT Group factories regionally.The sale of the property is part of its restructuring exercise.LGB was the successful bidder following a public tender exercise that was closed on April 29.BATs two lots, with a combined 570,740 sf, have 99-year leases expiring in September 2060 and April 2062. The eight buildings on these lots include a four-storey office, two four-storey office/warehouses, a two-storey office, a two-storey warehouse with basement, two one-storey factories with a mezzanine floor, and a one-storey factory.The land has been valued at RM216.8 million, and the buildings at RM45.7 million, according to a valuation done on April 22, 2016.Part of one of the lots is leased to Tenaga Nasional Bhd for a 30-year period expiring in July 2032.LGB will also grant a tenancy of the properties to BATs unit Tobacco Importers and Manufacturers Sdn Bhd for 12 months, at a monthly rental of RM1.09mil, with an option to extend for two further terms of six months each, from the completion of the SPA.For some 55 years, the factory has stood at the intersection of what was once known as the Rothmans roundabout, which was named after one of the cigarette brands sold by the firm.The Rothmans roundabout was replaced with traffic lights in 2011 to ease traffic congestion.Now the closure of the factory will wipe off the remaining vestiges of the presence of what was once the country's biggest cigarette maker. SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

5 THINGS YOU SHOULD KNOW ABOUT THE KL OFFICE MARKET

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1. One million sf a year … every year …KL’s central business district (CBD) will be expecting an estimated 4.8 million sf of new office space, with an average of 1 million sf coming into the market...

1. One million sf a year … every year …KL’s central business district (CBD) will be expecting an estimated 4.8 million sf of new office space, with an average of 1 million sf coming into the market annually.These will contribute to an office space glut by 2019, where there will be more office space than the demand for it, according to JLL Property Services' "KL Property Market Outlook" report.2. Malaysia’s Next Tallest Skyscraper among oversupply culpritsThe 118-storey Merdeka PNB118 will contribute 80 storeys of office space — or a whopping 1.6 million sq ft — when completed in 2019.About 60 storeys will be taken up by PNB and its subsidiaries, while the remaining 20 will be targeted at multinationals and large Malaysian firms.Other upcoming entrants to the KL skyline will include Tun Razak Exchange’s (TRX) Signature Tower, Bandar Malaysia and KL Metropolis.3. Wide open spacesTotal office space in the CBD stands at 40+ million sf.This includes the 2.6 million sf added last year, with the completion of the likes of Naza Tower, Menara Bangkok Bank, and IB Tower.As of end-2015, about 20% of CBD office space was vacant — a historic high — according to Savills Research.Several newer Grade A/A- office buildings (completed between 2011 and 2015) were only about 50% to 75% occupied.With the incoming supply and the current trend for smaller and more efficient offices, occupancy rates will surely be tested.4. Rentals to be facin’ a squeezin’In 2015, asking rents of Grade A buildings in the KL City Centre are above RM7-8 psf, with some, notably Menara 3 Petronas, Integra Tower and Menara Maxi, breaking the RM10 mark, according to Savills Research. Office rentals in the city fell by 0.7% in 2015 and are expected to slip further in 2016. “In anticipation of an influx of new supply, landlords in Kuala Lumpur have reduced their asking rents,” property consultancy Knight Frank said in its “Asia Pacific Prime Office Rental Index” report.Landlords have also been absorbing increased costs, due to inflation and GST, instead of passing them on to tenants.We are not alone. Other Asia Pacific prime office markets expected to see continued declines are Beijing, Jakarta, Perth and Singapore, according to Knight Frank research. Singapore and Jakarta rentals, for example, have declined by 9.9% and 9% last year.5. On the bright side …The technology, media and telecom (TMT) industry is thriving and slowly moving in to fill existing voids left by the sluggish oil and gas sector.Start-ups are also venturing into primer space to take advantage of the lower rent climate. So if you’ve always wanted to get that corner office, this might be a time to make a pitch for it.High quality, well designed office buildings, especially those built near train stations, will continue to have strong interest and an advantage in drawing potential tenants and investors. (Check out PropertyPricetag.com's picks on some of the upcoming transit-oriented developments in the Klang Valley.)SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

SEX OFFENDERS REGISTRY IN MALAYSIA

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When news broke of the British paedophile who allegedly sexually abused up to 200 young babies and children in Malaysia over eight years, there was a general sense of disbelief and horror.How did h...

When news broke of the British paedophile who allegedly sexually abused up to 200 young babies and children in Malaysia over eight years, there was a general sense of disbelief and horror.How did he get away with it? Why didn't the authorities do something? Why didn't they even know?Richard Huckle, 30, faces multiple life sentences after admitting to 71 out of 91 charges against him in the UK. These charges included rape, digital penetration, sexual assaults, "grooming" children to expose or touch themselves, taking photos and for facilitating child sex offences with his 60-page manual, "Paedophiles and Poverty: Child Love Guide".While Huckle is not likely to get out jail anytime soon or ever return to Malaysia, let's not forget our former Mara scholar who was found guilty in London for producing and possessing 30,000 Class A child pornographic materials.He has reportedly been released by UK authorities, after serving two-thirds of his 9-month sentence, and returned to Malaysia "a free man", but his whereabouts is unknown. Would you want to know if he moved into your condo building?Unsurprisingly, calls have resumed for the speedy set-up of a sex offenders registry in Malaysia Track these sex offenders. Publicise their whereabouts. Dont ever let them near a child or reoffend again.Perpetrators must be quickly apprehended and prosecuted," said The United Nations Childrens Emergency Fund (Unicef) Malaysia in an official statement on this issue. "Further mechanisms should be in place to ensure that convicted offenders do not continue to exploit and harm children once they have served their sentences. Sex Offenders Registry in MalaysiaActually, a sex offenders registry and tracking system was proposed and agreed to 20 years ago, but nothing was done about it for a long time as the government could not decide which ministry was responsible for it.Thankfully there has been some headway since.In early-2016, the Women, Family and Community Development minister Datuk Seri Rohani Abdul Karim announced that a Child Registry was underway, following the passing of amendments to the Child Act. This is meant to be used by employers vetting new hires for positions involving interactions with children, and information can only be released after consent by the Welfare Departments director-general.The police are also reportedly pushing to introduce a separate sex offenders registry, which will empower them to keep a constant watch on predators. Under the Registration of Criminals and Undesirable Persons, or Act 7, it will only register an offender without giving the power to authorities to monitor him or her, an unnamed source was quoted as saying. We want severe punishment against these predators.As it's still early days, the shape and form of these registries are still unknown.PropertyPricetag.com takes a snapshot look at how sex offenders registries are implemented around the world and, of course, how it affects property prices.Which countries have a sex offenders registry?Since the United States enacted the first national-level sex offender registration law in 1994, 18 other countries have followed suit (to one extent or another) Argentina, Australia, Bermuda, Canada, France, Germany, Ireland (Republic of), Jamaica, Jersey, Kenya, Maldives, Malta, Pitcairn Islands, South Africa, South Korea, Taiwan, Trinidad & Tobago and United Kingdom  according to the SMART report by the US Office of Justice ProgramsAfter this year, Malaysia will be included in the list. Who and what goes into a sex offenders registry?Different countries laws will determine the scope of registerable offenses. In Canada, UK and US, for example, most sex offenders will be included in the registry, even if its indecent exposure by streaking across the campus or having sex in public places. In some other countries, only the most serious offenders are registered. For example, those convicted of rape and indecent acts in Taiwan, or any sex offense against children in South Korea and South Africa.What goes in and when does it get out? Name, current contact information and current residential address are the main points. Others include photograph, DNA, fingerprints, work address, car registration number, details of conviction etc. There may be travel restrictions or other rules, such as types of jobs the person may not hold (e.g. kindergarten teacher etc). Some registries hold your details and require them to be updated for 5 to 20 years. Others, indefinitely.Can anybody access a sex offenders registry?Some countries restrict the use of the registry for law enforcement purposes only. Malaysia might be one of them. Tan Sri Musa Hassan, who mooted the proposal for a sex offenders' registry during his time as Inspector General of Police, is of the opinion that such info should not be disclosed to third parties easily.If anyone wishes to do a background check on a suspicious individual, they can always contact the ministry for assistance since the registry would be shared with law enforcement agencies worldwide in exchange for their respective lists of convicted offenders, he said.Since 2013, the UK has a National Disclosure Scheme that allows anyone to apply to their local police officials to find out if someone is a registered sex offender.Australia, parts of Canada, South Korea, and the US have public registry websites, both official and unofficial.While some places put more general information out based on general location, such as postcode, other websites, such as Criminal Watchdog, look quite a bit like a property portal. (Except that the little red flags arent recently transacted properties or houses for sale. Rather, they are the home addresses of sex offenders, with their photos and details available at a click of a button.)Some have gone a step further by mapping out sex offenders locations against property classifieds. HomeFacts.com, for one, has a whole crime index (along with a whole lot of data) with each property listing.How does public info about sex offenders affect property values?You could be living with former sex offenders for years and not notice. But once its in the public realm, you can expect property prices to drop the closer you are to the home of a registered sex offender. According to a 2008 study by the American Economic Review, houses located next door to a registered sex offender dropped by up to 12%.Another study (released in 2013), Neighborhood Tipping and Sorting Dynamics in Real Estate: Evidence from the Virginia Sex Offender Registry by Longwood University, found that it takes just one registered offender within 0.1 mile of a home to decrease its selling price by an average of 7% and increase the time it takes to sell by 80%. However, if four or more offenders live within a quarter-mile radius of another, youre looking at a 16% drop in price of nearby home, or 26% drop for a family-oriented neighbourhood. What are the issues associated with publishing sex offenders details?Sex offender data can be difficult to interpret and is sometimes inaccurate. And once photos and personal details are put up on the Internet, it can haunt you for life, even if the information was wrong.Former sex offenders may be trying to start a new life, and being labelled publicly for past crimes might create a lifelong stigma for them and even encourage them to "relapse" to their past lifestyle or create a "registered sex offender ghetto" in less restrictive neighbourhoods.And if you do have a sex offender in your building, do you really want the whole world to know? Especially if you are trying to sell or rent our your property?What do you think? How much disclosure do you think is necessary when it comes to tracking sex offenders? We don't have information on sex offenders on our website, but you can SIGN UP with Propertypricetag.com, you can check the latest transacted prices or list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.

UP OR DOWN: HOUSING LOAN INTEREST RATES

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In May 2016, Public Bank Bhd and Hong Leong Bank Bhd raised their base rates (BR) by about 10 basis points (bps) to 3.75% and 3.94% respectively.Standard Chartered followed suit by raising their BR...

In May 2016, Public Bank Bhd and Hong Leong Bank Bhd raised their base rates (BR) by about 10 basis points (bps) to 3.75% and 3.94% respectively.Standard Chartered followed suit by raising their BR to 3.77%.This was despite a reduction in the three-month KL interbank offered rate (3M KLIBOR) from 3.84% in January to 3.67% in May. KLIBOR is the the interbank lending rate, or what banks charge when they lend money to each other. The interbank rate has been trending down since Bank Negara cut the statutory reserve requirement by 50 basis points to 3.5% in January.  Maybank Investment Bank Research sees the increase in BR as a positive move for the banks, as it gives them a bit of breathing space in terms of profit margins basically, they would be able to increase their effective lending rates (ELR), which means higher home loan interest.Good news is, other banks with higher existing BR of 3.9% or 4%, especially those that are pegged to the KLIBOR, may not be able to follow suit as there's not much margin for them to adjust their BR upwards. In fact, if the KLIBOR continues its downtrend, these banks may have to lower their BR and ELR.Base what ... ?If you had no idea what the above section meant, read on.If you obtained your housing loan before Jan 2, 2015, your loan interest would be based on the Base Lending Rate (BLR), which is set by Bank Negara Malaysia. Effective Jan 2, 2015, the BR system replaced the BLR structure for new floating rate loans, such as your housing loans.Under BR, Malaysian banks  can determine their own interest rates, which will be based on the BR plus a spread.Effective Lending Rate = Base Rate + Spread The BR is tied to the bank's cost of funds and reserve requirements. Commonly, most banks would calculate their cost of funds based on the KLIBOR rate and the statutory reserve requirement (SRR) by the Central Bank.The spread would be determined by factors such as borrowers' credit rating, operating costs and profit margins. (If you have a higher risk profile (ie your credit rating is not so stellar), you might be subjected to a higher spread by the bank.)Hence, each bank would have different ELR depending on their cost efficiencies and spread.For example, Malayan Banking Berhad's BR is 3.20%, its spread is 1.35%, so its ELR is 4.55%. Whereas OCBC Bank (M) Bhd has a BR of 3.97%, a spread of 1.08%, and an ELR of 5.05%.Just like BLR, the BR can be adjusted periodically, just more frequently due to fluctuation in the KLIBOR. How does this affect me?The BR system is supposed to encourage greater transparency and competition, allowing homebuyers to compare and shop around for the best offer.So homebuyers should check out various home financing packages and make an informed choice.If you are risk averse to changing interest rates, then a fixed rate home loan may be a preferred option.You can check out the latest BR and indicative ELR at Bank Negara's website here. (BNM defines the indicative ELR as the indicative annual ELR for a standard 30-year housing loan with a financing amount of RM350,000 and no lock-in period.)SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

THE BUZZ ABOUT TODS

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Traffic jams and inefficient public transportation have become synonymous with Kuala Lumpur. In recent years, there has been a major governmental push to create an integrated public transportation ...

Traffic jams and inefficient public transportation have become synonymous with Kuala Lumpur. In recent years, there has been a major governmental push to create an integrated public transportation system in efforts to transform KL into one of the world's top 20 liveable cities by 2020.With improving connectivity and construction of new LRT and MRT lines, the spotlight is now on transport-oriented developments, or TODs.TODs are high-density residential and commercial projects designed to maximise access to public transport  so more people can be mobile and connected without needing to use a car. While direct or close access to public transporation networks may not guarantee the success of a development, it is definitely an asset if a project is well planned and executed. Are you ready to say goodbye to the stress of daily commutes with the rail network at your doorstep?Then check out these existing and upcoming TODs in the city.KL SentralMalaysian Resources Corporation Berhad (MRCB)'s KL Sentral is Malaysia's earliest TOD. Developed since 1997, this 72-acre urban centre with residences, offices, hotels, shopping malls, entertainment outlets etc is built around a large transit hub where six rail networks converge.The walk to the KL monorail station is now more pleasant as it goes through the air-conditioned Nu Sentral shopping mall.Latitud8You can't get more transit-oriented than if you were built on top of an LRT station itself.A joint project between Prasarana and Crest Building Holdings Bhd, Latitud8 will be located directly above the existing Dang Wangi LRT station and a 500-meter walk from the Bukit Nanas monorail system, which may be considered far for some.The 43-storey mixed commercial development will have a retail podium, office spaces, SOFO and SOHO units, and a rooftop lounge.The development is expected to be launched in the second half of 2016 and completed by end-2019.This is one of six TOD-based projects by Prasarana to optimise the use of underutilised land along the LRT and monorail networks.KL118Formerly known as Warisan Merdeka, PNB's KL118 Tower will be the tallest building in Malaysia when completed by 2020.Developed just next to Stadium Merdeka, the 610m-high office tower will be integrated with the new Merdeka MRT station, part of the Sungai Buloh-Kajang line.Bina Puri Holdings' Opus Kuala Lumpur residences will be located opposite the tower, and there are plans for a connecting pedestrian walkway.Tun Razak Exchange (TRX)Developed by 1MDB with Australian-based infrastructure group Land Lease, the upcoming financial district along Jalan Tun Razak will be an extension of KL's "Golden Triangle".Work is ongoing at the RM8 billion lifestyle quarter, which comprises a hotel, 3 residential towers, and a multi-layered central park.  These will all be connected with the largest underground station in Kuala Lumpur, housing both MRT lines 1 and 2. Line 1, the Sungai Buloh-Kajang line, is scheduled for completion in July 2017.Bandar MalaysiaThe 486-acre Sungei Besi military camp is slated for transformation into an iconic mixed-use development called Bandar Malaysia.Touted as the transport hub of the future, Bandar Malaysia is expected to be the new and improved version of KL Sentral. It will integrate at least four lines KTM, the Express Rail Link, MRT (Line 2 and Line 3), and the High Speed Rail-line to Singapore.Actual development would probably take off in 2018 after the air force base is relocated, and will spread over 15 to 25 years.Kwasa DamansaraThe Employee Provident Fund is the master developer of the massive 2,330-acre former Rubber Research Institute estate, which it acquired from the government for RM2.28 billion in 2012.To be developed over the next 20 years, Kwasa Damansara is positioned as the largest township development in the Klang Valley, with residential, commercial, recreational, institutional and educational precincts. It will incorporate an integrated transport network, with two new MRT stations Kwasa Damansara and Kwasa Sentral at each end of the town centre.The town centre, which will serve as the central business district for Kwasa Damansara, will be developed by MRCB. Work is likely to begin in 2017 and will include a 1 million sf mall.Subang Jaya City CentreAs part of its urban renewal effort, Sime Darby is building a city centre in SS16, Subang Jaya, on the 30 acres between Subang Parade and the KTM railway tracks.It is centered on a public transport hub, which includes integrated bus and taxi services,  KTM commuter trains, Park 'n' Ride facilities, and the upcoming LRT line part of the Kelana Jaya Line Extension that extends ot the Putra Heights Integrated Station.Designed by UK-based Benoy (which also designed Singapore's ION Orchard), this mixed-use development project will comprise The Glitz premium SOHOs, the 30-storey Suave serviced residences, a retail mall and office towers.MBSJ-required road upgrading is currently being done before work on SJCC can begin.Pavilion Damansara HeightsThe two-phase Pavilion Damansara Heights mixed development, by Tan Sri Desmond Lim, sits on 15.84 acres in Pusat Bandar Damansara. The former government department office blocks have been demolished and will be replaced with 9 en-bloc corporate towers (from six to 22 storeys), a retail galleria, and three residential blocks with a total of 1,008 units. Construction work on this 9.5-acre first phase has recently begun, in partnership with the Canada Pension Plan Investment Board.Phase 2 will be on the 6.34-acre car park that Lim bought from Selangor Properties in 2014. It will be developed into 4 office towers, a 42-storey hotel and service apartments, with 240 and 270 units, respectively.This plot gives Pavilion Damansara Heights direct access to Pusat Bandar Damansara station one of two new MRT stations in the vicinity. Neighbour DC Residency, part of Guocoland (Malaysia)'s RM2.5 billion Damansara City, is expected to be completed in mid-2016. Residents of the RM1,600 psf service apartments will be among the first to enjoy the new MRT station when it opens.DSara SentralMah Sing Group's DSara Sentral in Sungai Buloh is an integrated mixed-use development comprising four blocks of serviced apartrments and one block of Small Office Versatile Offices (SOVOs).It will have a direct and covered bridge to the new Kampung Selamat MRT station, diagonally across across the street.It is expected to be completed by 2018.SIGN UP with Propertypricetag.com to find out what properties in these hot spots were sold for. You can also list your property for FREE. Follow our Facebook page for more insights and updates on the property market in Malaysia. 

TOP 10 MOST EXPENSIVE CONDOS IN KL

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Property market is slow, slow, slow. So they say.But that hasnt stopped several prime properties from exchanging hands in last year. And at premium price too.Propertypricetag.com takes a look at...

Property market is slow, slow, slow. So they say.But that hasnt stopped several prime properties from exchanging hands in last year. And at premium price too.Propertypricetag.com takes a look at the high-end condominium market in 2015.While fewer properties were sold, the average transacted prices of luxury condos actually rose last year. Average transacted prices of luxury condominiums in the Golden Triangle increased from RM1,220 psf to RM1,500 psf, while those in secondary areas increased marginally to RM920 psf, as also noted in the WTW Property Market Report 2016. Property prices are expected to remain flat in the near future. While there may be a couple of under-market deals, demand is still strong, so we dont expect any widespread fire sales.However, the huge incoming supply of luxury condos cannot be ignored.As of 2015, the total number of luxury condo units to 36,252. In 2016 and 2017, we can expect an additional 13,500 units coming into the Klang Valley a 37% increase!Coupled with continued subdued market conditions, its definitely a renters market.  So yay for tenants time to flex some muscle.If you have some cash to spare or if you just want to know what people with (a lot of) money bought, check out Propertypricetag.com's ranking of the Top 10 Most Expensive Condominiums in Kuala Lumpur!(note: This ranking is based on Propertypricetag.com's data on the highest transacted price per square feet in 2015 for completed properties in Kuala Lumpur.  Properties under construction and new launches such as the RM2,500 psf Tropicana The Residences and the RM3,000 psf Pavilion Suites are not included.)10. THE TROIKA KLCCRM1,496 psfTransacted price: RM3.7 millionBuilt-up: 2,473 sfDeveloper: BDRB Development       Ultra-luxury meets distinctive architecture, with these three geometric twisting towers that promise to serve up the best city views. At 50 storeys high, Tower 3 is the tallest residential building in Kuala Lumpur.Located at the corner of Jalan Binjai and Persiaran KLCC, The Troika made a buzz with its RM1,000 psf average price tag back in 2005. Its 231 spacious apartment units range from 2,000 to 3,336 sf. The Troika also has 57 SoHo units, four storeys of retail outlets and boutique offices and a 30,000 sf landscaped courtyard. And if you want to impress a date, pick from a choice of three fine dining restaurants at the Troika Sky Dining complex at Level 23A on Tower 2.9. ST MARY RESIDENCESRM1,548.89 psfTransacted price: RM2.5 millionBuilt-up: 1,614 sfDeveloper: E&O Property Development and the Lion GroupTucked away on Jalan Tengah, yet just a walk away from the Petronas Twin Towers, St Mary Residences gives you a taste of life at Midtown Manhattan. It is part of the 4.1-acre St Mary development, which includes the E&O Residences Kuala Lumpur and St Mary Place, a shopping and dining enclave.Built on the site of the former St Mary School, St Mary Residences comprises three 28-storey towers, with a total of 457 units of service apartments. Launched in 2009, its three penthouses had a Lamborghini Gallardo included in its RM10 to RM12 million price tag. There are three other apartment layouts, from 1,131 sf studio units to 2,249 sf 3+1 bedroom. This RM2.5 million unit came with 2+1 bedrooms.8. VERVE Suites Mont KiaraRM1,568.68 psfTransacted price: RM1.17 millionBuilt-up: 746 sfDeveloper: Bukit Kiara PropertiesThe most happening spot in the Mont Kiara would probably at the VERVE Suites, which raised the bar when it was launched at an average of RM1,250 psf in 2010.The 993 fully furnished ultra-modern units, ranging from 462sf to 1,394sf, are housed in four uniquely themed towers on about 6 acres. It boasts innovative lifestyle facilities, such as beach in the sky, distinctive sky lounges, a hydro gym, sky gardens and indoor and outdoor cinemas. There is also an adjoining 3-storey 60,000 sf retail podium, VERVE Shops.Read more about 5 Wackiest Condo Facilities here.7.SoHo Suites @ KLCCRM1,605 psfTransacted price: RM1.18 millionBuilt-up: 735 sfDeveloper: Jadepot Development (Monoland)SoHo Suites @ KLCC is centrally located along Jalan Perak.  The 45-storey block houses 808 residential and office units in separate (yet interlinked) wings so you can live and work in the same building.Targeted at the young and single, its simplex and duplex units range from 601 to 877sf. This 735 sf unit is the smallest apartment in this list.Residential SoHo Suites were launched from RM850psf in 2011, and the price has doubled since, as you can see. Facilities on the rooftop podium are payable on a subscription basis, and include a health fitness centre, timber pool deck, poolside cabanas and a 25m lap pool.6. PanoramaRM1,689.13 psfTransacted price: RM2.145millionBuilt-up: 1,270 sfDeveloper: UOL Group & General CorporationWalking distance from KLCC, Panoramas location on Persiaran Hampshire is one of its biggest draw. And its unique fan-shaped design and massive floor-to-ceiling windows help it live up to its name. The modern and sleek Panorama comprises two 33-storey blocks with a total of 223 units, ranging from 592 to 1,819 sf, with an open-plan layout. A facilities deck on the 7th floor allows you to swim or party or just chill against the KL skyline.5. ViPod Residences @ KLCCRM1,779.31 psfTransacted price: RM2.3 millionBuilt-up: 1,292 sfDeveloper: Vipod Suites (Monoland)Yet another development by Monoland, ViPod Residences @ KLCC is located at Jalan Kia Peng, between Pavilion and KLCC. The 41-storey condominium has 440 one or two-bedroom units in its three blocks, ranging in size from 635 to 1,350 sq ft. Launched at around RM900sf in 2010, smaller units could only be sold on a purchase-with-purchase basis you had to buy a medium-sized unit first. Facilities are similar to SoHo Suites and also include a monthly membership fee. There are serviced offices on the first floor, and 24-hour concierge services at the ground floor.4.The Binjai on the ParkRM1,799.88 psfTransacted price: RM4.01 millionBuilt-up: 2,228 sfDeveloper: Layar Intan (KLCC Holdings)Once touted as the most expensive piece of real estate in KL, The Binjai on the Park continues to hold its own with its multi-million dollar unobstructed view of the KLCC Twin Towers and the KLCC park at its door step. It is the only residential property within the KLCC development masterplan.Each of the 171 units has its own private lift lobbies with only 2 to 3 units per floor. One of the two super penthouses a 14,300sf triplex was sold in mid-2010 for RM38 million! The remaining super penthouse a 19,000sf quadruplex has been on the market for RM50 million.This 2,228 sf unit was actually sold close to its 2009 price of RM1,700 psf, an indication of the times.3. Marc Service ResidenceRM1,907.81 psfTransacted price: RM3.9 millionBuilt-up: 2,044 sfDeveloper: Beverly Tower Development Sdn Bhd (CapitaLand Group)Located at Jalan Pinang, Marc Service Residence is one of the pioneer luxury condominiums in the KLCC area, launched from RM700psf in 2003. It was also one of the first developments with the serviced residence concept, with units managed by The Ascott Limited and a guaranteed rental return scheme.The two 35-storey towers sit on two acres with a total of 637 units, ranging from 493 to more than 3,000sf. Although the condominium is about a decade old, the building and facilities are well maintained, which may account for its high demand.2. Pavilion ResidencesRM1,986 psfTransacted price: RM2.45 millionBuilt-up: 1,234 sfDeveloper: Urusharta Cemerlang (Pavilion Group)The only leasehold luxury condo in this list is Pavilion Residences at Jalan Bukit Bintang.It is part of the 12-acre integrated Pavilion Kuala Lumpur comprising apartments, a mall, hotel and office tower. The Pavilion Malls roof houses the Sky Garden, with an infinity swimming pool, playground, tennis court and gymnasium for residents.The 368 luxury residences sized between 1,057 to 7,174 sf are housed in two 43 and 50-storey towers residential blocks atop the mall. These were completed and sold at RM900 psf in 2009 to tremendous response.  Seems like a great investment now, right?1.  One MenerungRM2,045.30 psfTransacted price: RM8.48 millionBuilt-up: 4,175 sfDeveloper: BDRB Development       And the most expensive condo sold is ... One Menerung, located behind Bangsar Shopping Centre. At RM8.5 million, it is also the highest amount paid for a "bungalow in the sky".What we like best is the space it offers just 229 mixed-residential units (comprising high rise, low rise, town houses and link homes) on 8 acres of prime land. The smallest condo unit is 3,013sf, so its definitely not pigeon hole living, and each unit gets 3 car park lots. With such luxury of space, it is not surprising that prices have more than doubled since its launch in 2006.SIGN UP with Propertypricetag.com to find out what other condos in the Klang Valley were sold for. You can also list your property for FREE. 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