Aeon Tebrau City is still expanding
The extension seems to be half-completed as of Sep, and should be fully done up possibly mid next year.
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Property News
- Thread starter FHBH12
- Start date
Aeon Tebrau City is still expanding
The extension seems to be half-completed as of Sep, and should be fully done up possibly mid next year.Johor to investigate home price manipulation
Oct 3, 2014
In order to prevent fraud, property developers must set a benchmark for their deposit payments and other related fees when they sell a house, according to Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan.
He said this in response to an allegation that a developer in Johor Bahru is manipulating residential prices. “This issue caught the attention of internet users after the case of the house buyer was spread through the WhatsApp application and other social media since 25 September.”
“I have instructed the ministry’s secretary-general to investigate the matter and he has met with the complainant to get more details,” Abdul Rahman told the media yesterday after unveiling Universiti Malaysia Pahang’s project on Green Technology Building Innovation.
The event was also graced by UMP’s Vice-Chancellor Professor Datuk Dr Daing Nasir Ibrahim and the Chairman of its Board of Directors Datuk Mohd Hilmey Mohd Taib.
“We have also got a reaction from a representative of the developer. This case is due to a misunderstanding and confusion over the cost that has to be paid by the buyer for the Bumiputera and non-Bumiputera lots,” he noted.
Notably, all buyers of Bumiputera lots have to shoulder a developer’s service charges like stamp duties for the mortgage and memorandum of transfer, as well as attorney’s fees for sales & purchase agreement, explained Abdul Rahman.
While non-Bumiputera buyers are not required to pay these fees, they have to fork out a higher deposit, he added.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop.../johor-to-investigate-home-price-manipulation
Oct 3, 2014
In order to prevent fraud, property developers must set a benchmark for their deposit payments and other related fees when they sell a house, according to Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan.
He said this in response to an allegation that a developer in Johor Bahru is manipulating residential prices. “This issue caught the attention of internet users after the case of the house buyer was spread through the WhatsApp application and other social media since 25 September.”
“I have instructed the ministry’s secretary-general to investigate the matter and he has met with the complainant to get more details,” Abdul Rahman told the media yesterday after unveiling Universiti Malaysia Pahang’s project on Green Technology Building Innovation.
The event was also graced by UMP’s Vice-Chancellor Professor Datuk Dr Daing Nasir Ibrahim and the Chairman of its Board of Directors Datuk Mohd Hilmey Mohd Taib.
“We have also got a reaction from a representative of the developer. This case is due to a misunderstanding and confusion over the cost that has to be paid by the buyer for the Bumiputera and non-Bumiputera lots,” he noted.
Notably, all buyers of Bumiputera lots have to shoulder a developer’s service charges like stamp duties for the mortgage and memorandum of transfer, as well as attorney’s fees for sales & purchase agreement, explained Abdul Rahman.
While non-Bumiputera buyers are not required to pay these fees, they have to fork out a higher deposit, he added.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop.../johor-to-investigate-home-price-manipulation
ISKANDAR DISASTER IN THE MAKING: Acute property oversupply, dearth of economic activity
Saturday, 04 October 2014 14:18
SINGAPORE - With rising concerns over a housing supply glut in Iskandar Malaysia, property experts say the onus is now on the authorities to realise their vision for the southern economic corridor in order to promote jobs and migration that will create demand for homes there.
The escalating worries over the oversupply of homes in the region come after several mega launches by Chinese developers in the past year.
That, coupled with the lack of clarity over the implementation of property cooling measures there, has resulted in waning interest from Singaporean investors, one of the largest groups of foreign homebuyers in Iskandar.
“There seems to be a demand and supply mismatch … It takes such a short time to introduce all these supply, but the population is not there yet. Looking at the pricing, the units are not geared towards the local market, they are geared towards the overseas market. Maybe developers are very optimistic about the prospects of Iskandar, but there may be too much supply too soon,” said Mr Khalil Adis, the founder of property firm Khalil Adis Consultancy.
Bilateral bickering over the Causeway toll charges and vehicle entry permit fees, as well as delays in Singapore developers’ projects in Iskandar, have also added to the uncertainties over the residential landscape there.
There is no available property data specific to the Iskandar region, but a report earlier this year by Malaysia’s Ministry of Finance showed there were 118,191 residential units under construction in the state of Johor — where Iskandar is located — and another 168,371 units planned as of the final quarter of last year. Iskandar has accounted for most of the new developments in Johor in the past few years.
The scale of new supply dwarfs the prevailing number of transactions. Official data also showed a 6.8 per cent drop in residential property sales in Johor to 8,493 units in the first quarter this year, compared with the previous three months.
Within Iskandar, media reports on stagnating developer sales have also emerged, saying the take-up for Country Garden’s Danga Bay is expected to hover at about 70 per cent after its launch in August last year, when the Chinese developer put about 9,000 homes on the market.
To be sure, Iskandar has continued to attract investments, securing another RM9.72 billion (S$3.8 billion) in the second quarter to bring the total committed investment to the economic zone to RM146.2 billion since 2006.
The challenge now is to take steps, such as boosting commercial activity, to power the region and turn it into the international metropolis and economic centre that it is envisioned to be.
“I think the bigger challenge right now is for both Singapore and Malaysia governments to work together to really drive the Iskandar story, now that there is infrastructure in place — roads that really do exist, good properties. So we should start looking at the commercial element,” said Mr Gerard Kho, country manager of real estate portal PropertyGuru in Malaysia.
“If commercial activities do come in the next decade or so, the residential development will go into the next phase of growth because there will be real demand in Iskandar again,” he added.
Over the long term, Malaysia’s relatively young population and the rising migration from rural to urban areas bode well for the property market, said Ms Hoe Mee Ling, the chair of Johor’s Real Estate and Housing Developers’ Association. Iskandar also stands to benefit from the planned rapid transit link between Johor Baru and Singapore, she added.
“Infrastructure is crucial and it has been enhanced tremendously. The provision of a good public transport system is a must … With increasing migration and job creation in Johor, it will only help the property market improve,” said Ms Hoe. -Todayonline.com
Full article: http://www.malaysia-chronicle.com/i...-of-economic-actiovity&Itemid=2#ixzz3FDoskJoP
Follow us: @MsiaChronicle on Twitter
Saturday, 04 October 2014 14:18
SINGAPORE - With rising concerns over a housing supply glut in Iskandar Malaysia, property experts say the onus is now on the authorities to realise their vision for the southern economic corridor in order to promote jobs and migration that will create demand for homes there.
The escalating worries over the oversupply of homes in the region come after several mega launches by Chinese developers in the past year.
That, coupled with the lack of clarity over the implementation of property cooling measures there, has resulted in waning interest from Singaporean investors, one of the largest groups of foreign homebuyers in Iskandar.
“There seems to be a demand and supply mismatch … It takes such a short time to introduce all these supply, but the population is not there yet. Looking at the pricing, the units are not geared towards the local market, they are geared towards the overseas market. Maybe developers are very optimistic about the prospects of Iskandar, but there may be too much supply too soon,” said Mr Khalil Adis, the founder of property firm Khalil Adis Consultancy.
Bilateral bickering over the Causeway toll charges and vehicle entry permit fees, as well as delays in Singapore developers’ projects in Iskandar, have also added to the uncertainties over the residential landscape there.
There is no available property data specific to the Iskandar region, but a report earlier this year by Malaysia’s Ministry of Finance showed there were 118,191 residential units under construction in the state of Johor — where Iskandar is located — and another 168,371 units planned as of the final quarter of last year. Iskandar has accounted for most of the new developments in Johor in the past few years.
The scale of new supply dwarfs the prevailing number of transactions. Official data also showed a 6.8 per cent drop in residential property sales in Johor to 8,493 units in the first quarter this year, compared with the previous three months.
Within Iskandar, media reports on stagnating developer sales have also emerged, saying the take-up for Country Garden’s Danga Bay is expected to hover at about 70 per cent after its launch in August last year, when the Chinese developer put about 9,000 homes on the market.
To be sure, Iskandar has continued to attract investments, securing another RM9.72 billion (S$3.8 billion) in the second quarter to bring the total committed investment to the economic zone to RM146.2 billion since 2006.
The challenge now is to take steps, such as boosting commercial activity, to power the region and turn it into the international metropolis and economic centre that it is envisioned to be.
“I think the bigger challenge right now is for both Singapore and Malaysia governments to work together to really drive the Iskandar story, now that there is infrastructure in place — roads that really do exist, good properties. So we should start looking at the commercial element,” said Mr Gerard Kho, country manager of real estate portal PropertyGuru in Malaysia.
“If commercial activities do come in the next decade or so, the residential development will go into the next phase of growth because there will be real demand in Iskandar again,” he added.
Over the long term, Malaysia’s relatively young population and the rising migration from rural to urban areas bode well for the property market, said Ms Hoe Mee Ling, the chair of Johor’s Real Estate and Housing Developers’ Association. Iskandar also stands to benefit from the planned rapid transit link between Johor Baru and Singapore, she added.
“Infrastructure is crucial and it has been enhanced tremendously. The provision of a good public transport system is a must … With increasing migration and job creation in Johor, it will only help the property market improve,” said Ms Hoe. -Todayonline.com
Full article: http://www.malaysia-chronicle.com/i...-of-economic-actiovity&Itemid=2#ixzz3FDoskJoP
Follow us: @MsiaChronicle on Twitter
Malaysia is big enough to take care of itself 
And Greenland prefer to launch its projects somewhere else.....
http://theedgemalaysia.com/property/310295-greenland-unveils-the-ram-quarters.html
What is long term? 20 to 30 years? I will not call it a successful long term investment if there is no return for more than 20 years.
Aeon Tebrau City is still expanding
you went in this weekend huh. How's the jam? and IKEA site, any activity??
The MOT stamp duty structure is
1% for 100K
2% next 400K
3% from 500k - 2M
assuming her house is 900K then the SD on MOT is 1+8+12 = 21K.
This is a standard fee. no hanky panky.
(the hanky panky may be elsewhere. for eg: 500RM for transport cost. what transport? need to move cows around ah?)
The MOT stamp duty structure is
1% for 100K
2% next 400K
3% from 500k - 2M
assuming her house is 900K then the SD on MOT is 1+8+12 = 21K.
This is a standard fee. no hanky panky.
(the hanky panky may be elsewhere. for eg: 500RM for transport cost. what transport? need to move cows around ah?)
It was only around $700k RM, but the MOT fees were excessive, and it included transport and other miscellaneous costs of around $2-3k RM in total.
Looks like Greenland is delaying the launching of the Danga Bay project for the time being.
There are little activities on site; that huge steel frame structure, which I think will be used to house the showroom / sales office had shown no progress in the construction work for weeks already.
700k RM S/D on MOT is 1+8+6= 15K. Lawyers chop carrot on the misc costs. Can always get a full breakdown of the costs. I suppose your friend was forced to use the developers lawyer? developer didn't give free MOT?
Better not to move until Budget 2015 announcements are over.
I think so. Yes, developer's lawyer. Really chop carrot on the quality of furnishing and other legal costs. MOT was not given in the package.
well, at least the house has appreciated a lot. sup sup water la.
Hi Malpaso,
This MOT cost upon VP. Something new to me. Did not know have to incur this cost. Can double check with you for our purchase with Setia with rgs to SEG is it absorbed? Thanks.
SEG or SEC? SEG is eco garden.. i thought you bought SEC??
For SEC, Is absorbed, bro. dun worry. SP Setia still got standard one, their process should be all in place.
The way it works is this. When developer develop a land, the land is under master title. Once VP, developer will apply with architect confirmation to divide out master parcel into either strata (for SEC) or individual titled (for eg. BDO). As soon as title ready to transfer to individual owners (normally after VP) the develper will register memorandum of transfer (means register your name as owner on the title deed), and at this time of presentation, the stamp duty on MOT is payable at the land office.
For SEC, Setia will pay SD on MOT. This has been confirmed by other forummers in the SEC thread and I have also double checked with setia.
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