The Pavilion group is setting a new record as prices for units at its high-rise serviced residential project, Pavilion Suites, starts from RM3,000 psf.
The 51-storey project is being developed by Urusharta Cemerlang (KL) Sdn Bhd and comprises 383 units of one- and two-bedroom serviced residences and 450,000 sq ft of retail space on a gross floor area basis.
The residential units’ record price did not come as a surprise since it is being built on a half-acre land which created buzz in the property scene in 2010. Back then, Urusharta Cemerlang, which is controlled by property magnate Tan Sri Desmond Lim, acquired the said land for a record price of RM7,209 psf from Singapore billionaire Kwek Leng Beng.
Notably, Kwek plans a luxury serviced apartment project on the land, but Lim saw value in it considering that the site is strategically situated in front of his Pavilion KL shopping mall and residences.
Property sector executives said details on the number of units bought have not been disclosed since the sales were made on an invited basis.
“The cheapest units are going for more than RM3 million each and there are takers for them,” revealed an executive.
Previous high for serviced residential within the heart of the city was for projects like The Four Seasons Place and Ritz Carlton, which were sold from RM2,400 to RM2,800 over the past two years.
A purchaser said sizes of Pavilion Suites were limited, with a selection of between 700 and 850 sq ft for a one-bedder or 1,250 sq ft for a two-bedder.
The development will reportedly feature two separate lobbies and two entrances – one in Jalan Bukit Bintang and Jalan Raja Chulan.
With a gross development value of RM1.2 billion, Pavillion Suites is expected to be completed in 2017. The first nine storeys of the development will be retail floors, while the rest will be occupied by the residential units.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/property-news/2015/5/93498/pavilion-suites-sets-new-record
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The connectivity between Kuala Lumpur
and Singapore is one of the agenda to be discussed at the 6th
Malaysia-Singapore Leaders Retreat today.
According to Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin, who
is also a delegate at the retreat, Prime Minister Datuk Seri Najib
Abdul Razak will lead the discussions at the annual retreat.
It is understood that the Rapid Transit System Link (RTS) connecting Kuala Lumpur and Singapore will be discussed in-depth.
Notably, Land and Public Transport Commission (SPAD) chairman Tan Sri
Syed Hamid Albar will present its feasibility study paper on the
proposed high-speed rail link from Singapore to Kuala Lumpur, which will
reduce travel time from 50 hours to around 90 minutes.
For Johor, however, the building of the RTS has the power to serve as
a catalyst in Johor economy, considering the slow trend in Iskandar’s
property market.
Another topic likely to be discussed at the retreat is the proposed Friendship bridge.
Proposed by Najib in 2013, the bridge will act as a symbol of
friendship between the two neighbours. The proposed bridge was also well
received by the Johor community, particularly the business fraternity.
In a statement, the Foreign Affairs Ministry revealed that Najib is
set to have a four-eyed meeting with Singapore’s Prime Minister Lee
Hsien Loong. Thereafter, a delegation meeting will be held wherein both
sides will discuss bilateral issues as well as review the progress of
existing bilateral cooperation and initiatives agreed upon during last
year’s retreat.
This year’s retreat will also witness the signing of a memorandum of
understanding between Singapore and Malaysia on Co-Operation in
Developing Urban Search and Rescue Capabilities and Supplemental
Agreement to the Agreement for the Construction and Operation of a Ferry
Terminal as well as the Operation of a Ferry Service between Singapore
and Peninsular Malaysia.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/property-news/2015/5/93405/connectivity-top-agenda-at-the-6th-malaysia-singapore-leaders-retreat
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Demand at the primary market slowed after the federal government unveiled cooling measures in November 2014, which include the abolition of the developer interest bearing scheme (DIBS), to curb speculative activity.
The slowing market was weakened further when Bank Negara raised the base lending rate to 3.25 percent.
Zerin Properties CEO and founder Previndran Singhe noted that while the secondary market also witnessed a slowdown, the same was marginal. In fact, the market continued to be stable.
Metro Homes Sdn Bhd director See Kok Loon said the 0.25 percent increase in BLR is too small to affect the secondary market.
“There has been no movement in the BLR for about three years. I believe the impact is minimal. Moreover, the secondary market has always attracted owner-occupiers and long-term investors,” added See.
Prices of sub-sale home set to increase
Malaysian Institute of Estate Agents president Siva Shanker revealed that transaction volume in the secondary market stood at 427,520 in 2012, with total value at RM142.8 billion.
While the volume fell to 381,180 in 2014, value inched up by seven percent to RM152.4 billion.
“From this, we see that even though demand is slowing down, the average asking price increases about 10 percent per annum.”
Siva noted that secondary market homes are popular in Kajang, Puchong and Cheras. While these areas are known for heavy traffic, people still find them attractive as prices of two-storey homes these areas are more affordable than those in the Klang Valley.
And as more people move to the city, homebuyers are now willing to travel long distances.
“Look at Semenyih. It wasn’t a well-known place a few years ago, but now with S P Setia, EcoWorld and several other big developers entering the market there, people are crowding their showrooms,” said Siva.
However, Previndran believes that homebuyers are keener on Damansara and Bangsar for their ‘primary home address’, albeit homes at these places tend to be pricier.
“The asking price for condominiums in Kuala Lumpur, such as Suria Stonor, is as high as RM1,000 psf now compared with RM750 psf three years ago.”
See revealed that condo prices in Petaling Jaya increased to RM600-RM700 psf from RM450-RM500 psf three years ago, while Previndran said condo prices at Bangsar’s One Menerung can go as high as RM1,600 psf.
Prices of linked houses in Medan Damansara also increased to RM1.6 million-RM1.8 million from RM1.2 million over the past three years. Those in Taman Desa are being transacted at RM1.4 million, up from RM1 million three years ago.
GST’s impact on secondary market
Property consultants said while transactions at the secondary market remained low during the last three years, they are still optimistic about the market’s outlook. This is because prices are stable and healthy and are not affected much by the recent implementation of the goods and services tax (GST).
“Potential purchasers may turn to the secondary market for bargains. With the same outlay, you can choose better locations and see the finished product. Some may even enjoy immediate yield from rent,” said Previndran.
Siva believes that the secondary market will be more popular with genuine buyers than speculators as it does not provide the latter adequate time to speculate on prices.
Although homes on the secondary market will not be affected directly by GST, the services provided by banks and lawyers will be. Nonetheless, Previndran does not expect the impact to be big considering that the cost of buying properties on the secondary market is relatively low.
The common procedure to buy secondary property
1. Agree on the purchase price with the owner (the Vendor).
2. Endorse on an “Offer to purchase from buyer” by paying an “Earnest Deposit”, normally is 2 – 3% of the purchase price to a real estate agency firm. The “Offer to purchase form” will be provided by Real Estate Agent if going thru them. The Earnest Deposit is commonly held by the Real Estate Agent or a solicitor as stakeholder. If loan is needed, is better to secure loan before paying the deposit.
3. Purchaser to engage a solicitor to draft and execute a Sale and Purchase Agreement (SPA) within 14 days. Vendor will also have right to engage his own solicitor to represent on behalf.
4. Upon signing the SPA, purchaser to pay the down payment of 10% (less the earnest deposit amount) to the Vendor or to the solicitor as stakeholder (normally this 10% will be the liquidated damages sum). Purchaser may also need to pay the solicitor legal fee and stamp duty unless the solicitor allow to pay at a later stage.
5a. The balance of the 90% shall be paid by the Purchaser within 3 months (or 90 days) from the SPA date with an extended period of 30 days (or 1 month) with 8 – 10% interest chargeable on daily basis.
5b. For the land has not been issued individual title or strata title for stratified property, the Vendor or his solicitor is required to get the Letter of Confirmation from the Developer on the ownership of the said property, this may take about 2-3 weeks time from the date of signing SPA.
5c. If property is a leasehold property and the title has been issued by the relevant land office, then it is the Vendor and his solicitor’s duty to secure the necessary consent to sell from the Land office, it will normally take 6 months from the date of signing the said SPA, upon the Vendor receive the “Consent to sell from the Land Office” then only the sale becomes unconditional, the sub-clause 5a will be operative and the completion date for the sale will be commencing from the date of receiving the Consent Letter by the Purchaser’s solicitor.
6. If loan involved, the purchaser shall also execute a Loan Agreement (LA) once the SPA signed and stamped. The LA may be done by another approved solicitor by the banker and purchaser to bear the legal fee and stamp duty for the charge of the property to the said bank to obtain the loan facility.
For foreign purchasers, please visit http://www.mm2h.eu for more information.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/property-news/2015/4/92313/malaysias-secondary-market-to-remain-stable?utm_source=pgmy-newsletter&utm_medium=edm&utm_campaign=agentsnewsletter-apr2015&utm_content=mainlink
For more information and viewing appointment please contact
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email: nwkeric526@gmail.com
***Welcome to list your properties, we have ready tenants and buyers for you.***
Refer to our blog also:
http://propertylisting126.blogspot.com
http://themavenpenang.blogspot.com
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The steps you take to selling your house
are the same as anyone else. This checklist will help keep things in
perspective and help you organize your time so that when you move out,
your stuff move with you. It also allows the buyer to move in without
having to deal with the mess you left behind.
These are ten easy things to check off your little list if you want to close the sale of your house and move on smoothly;
1. Retain all contracts, disclosures and agreements pertaining to and about the sale: Keep
these documents in a safe place, you might need them. If there is an
unpaid bill or if the buyer for some reason decides to sue you, having
all these documents on hand will help mitigate or relieve you of these
issues.
2. Clean the house:
It is only good
manners to leave the house clean for the new owners. Mop, sweep, scrub
and dust everything off. Leave it in a good condition. No excuses.
3. Shut off valves/taps: If you have disconnected your washers, turn off the valves or risk flooding the home. Turn off gas stoves and water taps too.
4. Final walk-through:
It
is also good manners when it comes the day to leave, that you do a
final walk-through the empty house with your buyers and inform them of
the little quirks that only you would know. Does a particular door
stick? Which light switch operates which room? Such things are trivial
but an important part nonetheless of handing over.
5. Cancel/transfer your insurance:
If
you’ve bought insurance for your house, wait until the deed has
transferred and you are legally no longer bound to the house before
cancelling it. But remember to do this.
6. Cancel utilities:
Make sure you get the power turned off before you leave. It will be the
buyers’ responsibility to pay to have the power and water turned on,
not yours.
7. Cancel subscriptions:
Newspaper,
magazine, cable subscriptions and any other things that you pay to have
delivered frequently to your doorstep should be cancelled or
transferred to your new home.
8. Check cabinets/drawers/cupboards:
Check
everything thoroughly so you don’t accidently leave something important
behind. Check the top of cupboards and dressers. Look at the back and
feel for anything that might have slipped in and gotten lodged out of
sight.
9. Collect all keys:
The buyer will
likely change the lock but all keys that belong to the house, such as
drawer keys, garage keys etc, should be collected and placed in the
kitchen drawer or in an obvious location so the buyers won’t miss them.
10. Close windows/lock the door:
When you’re ready to leave, close all the windows, shut the drapes, close doors and lock the main gate and door.
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/resources/sell-property-guide/10-ways-to-close-sale-smoothly-/1718
For more information and viewing appointment please contact
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email: nwkeric526@gmail.com
***Welcome to list your properties, we have ready tenants and buyers for you.***
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Kampung Pandan, Jalan Belangkas
Type: Ground Floor Shop Lot
Built Up: 1760sf
Remarks:
-Basic Unit
-Strategic location for Business, High Population, Many School nearby this location
-Only rent Rm2.85psf NOW!
Nearby: Flat Desa Pandan, Klinik Kesihatan Dan Pergigian Kampung Pandan, Sekolah Kebangsaan Taman Maluri, Petronas Taman Maluri, Sekolah Menengah Kebangsaan Aminuddin Baki, Sekolah Menengah Kebangsaan Datok Lokman, Sekolah Menengah Kebangsaan Taman Maluri
Rental: Rm 5000/Month
http://www.propertyguru.com.my/commercial-property/kampung-pandan-jalan-belangkas-for-rent-11343737
For more information and viewing appointment please contact
Eric Ng @ 012-6655230
email: nwkeric526@gmail.com
Property For Sale or Rent, Can Call to List. Buyers / Investors Who Wish to Buy / Invest Properties Are Welcome to Contact Me For Further Information.
*** FREE VALUATION, FREE CONSULTANT & FREE MARKETING ***
Refer to our blog also:
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Look, we get it.
It’s really
difficult to justify spending more money on outside help when you’re
already trying to sell your house to make money. Why would you want to
take a percentage of your proceeds and give it to someone to sell it for
you when you can just do it yourself and keep 100% of the cash right?
Thing
is, unless you were once an estate agent or have a keen insight of the
area you’re selling the property in, an intimate understanding of the
legal matters and a reservoir of marketing power and database of
potential buyers, you’re going to find that selling a property without
professional assistance is like enrolling for a cooking competition
armed only with the knowledge to make instant noodles.
But in
case you need a little more encouragement, here are just some of the
things an estate agent can do for you that will make your entire
transaction go as smooth as butter.
1. Database:
Hiring
an agent with years of experience means you get access to the most
invaluable tool in his arsenal; his database of potential buyers that
have had dealings with the agent and most likely trust him. So instead
of putting up posters and brochures and starting from scratch, the agent
can simply send out multiple emails alerting his entire database to the
availability of your property. No guarantees of course but certainly
better than the usual no database-needle-in-a-haystack alternative.
2. Marketing:
Good
marketing is the difference maker. We see the results of good marketing
everywhere when lousy products backed by millions of marketing dollars
churn a hefty profit despite them being next to useless. For your
property – which is never useless – you can’t rely on the fact that it’s
gorgeous alone. It must be dolled up and presented in an aesthetically
pleasing fashion and your agent is the go to guy for this. Furthermore,
your agent can broadcast your property to thousands of potential buyers
locally and overseas through the use of PropertyGuru. That alone extends
your reach by a large percentage and is also the most cost effective
one. Furthermore, the agent can produce brochures, posters and even
newspaper advertisements should you have the budget to go through with
those pricier supplements.
3. Managing everything:
Imagine
having to manage and conduct viewings, entertain questions while
maintaining a neutral composure whenever someone exclaims they do not
like the choice of furniture, wood etc and then going in for the close
with what you think is the best buyer for your home at the best price
possible. Can’t imagine doing all of that? No problem, that’s what the
estate agent is there for. All you need to do is go out and enjoy
yourself while the agent handles all the viewings, questions and
ultimately, separates the genuine interested parties from the undecided
before going in for the kill, er, close.
4. Negotiate:
This
is a skill and like most skills, you’re either born with it or you
learn it. The estate agent would have experience in negotiating because
they’re well familiar with enticing buyers by dangling carrots and
reading their body language to see if they’ll bite. They are also
insured into getting you the best deal possible because let’s not forget
the more money they get out of the buyer, the more commission they
earn.
The estate agent is quite like a giant Swiss army knife;
there’s a whole lot of tools there you may not readily understand but
you know they’re all useful in some fashion. The above is merely a
summary of some of the things he can do for you.
So do yourself a giant favor and find a reputable, experienced and registered estate agent to help facilitate the selling of your home.
You won’t go wrong. But if you do, well then, it won’t be your fault now would it?
Kidding.
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/resources/agent-guide/advantages-of-using-certified-property-agents-for-/1598
For more information and viewing appointment please contact
Eric Ng @ 012-6655230
email: nwkeric526@gmail.com
**Welcome to list your properties, we have ready tenants and buyers for you.
Refer to our blog also:
http://propertylisting126.blogspot.com
http://themavenpenang.blogspot.com
http://officelisting.blogspot.com
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