Malaysia Property

CasaSuria – Sunway Alam Suria, 2-Storey cluster homes final phase

All sifus, was visiting Sunway sales at KD few weeks ago and the SA recommended this to me. Claim price is around RM600+ after discount.
Show house construction in progress, design looks good from broucher. Selling on the concept of every unit is a corner unit. Not sure is G&G or just guarded. DASH highway connectivity to Damansara. Checked Google map is about 20km one way from Damansara Uptown.
http://www.sunwayproperty.com/pd/alamsuria_phase2c.asp

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Anyone bought and mind to share your thoughts about this place and township, is it good for own stay? Quite interested.

Islamic house loan vs conventional,

based on this article http://moneyburp.blogspot.com/2008/10/unbe…nking-loan.html it says that islamic house loan calculates exactly like hire purchase (car) loan.. The interest (even thou that's not what they are calling it;they call it profit rate) is charged on the borrowed principal amount times the number of years up front. where as conventional loan, "Conventional loan uses principal or balance reducing method to calculate your interest. This means that the interest is charged based upon your principal balance every year. The principal will reduce whenever you make a payment. Every time you make a monthly payment, you are actually paying interest and reducing the principal with whatever left after paying interest. So, making extra payment to your loan at any times would definitely reduce the total interest charged as your principal is reduced."

is it true? thanks

Bad Experince buy Palm Spring, Dsara., C-G-13A currently cheveated

Bad owner refuse to sell / disappear after received 10%, refuse to receive any letter that send by my lawyer by hand.
Due to both of us appointed same lawyer because that time i thought same lawyer wil more easier and faster. After that my lawyer same very hard to sue the seller because seller don't answer call and don't want acknowledge receive letter, my lawyer ask me look for another lawyer he can't help. Sigh~
I tried to look many other lawyers, but none of them want to accept my case, because it was messed up by previous lawyer, they need study the matter, and i wil blame them if they failed to fight for me. So the case pending about a year.. even i also went to MCA about this, MCA said just think positive money can earn back as long i healthy should thanks god ady (WTF!)

After a year…
I managed found a good lawyer, after he viewed my case he very confidence he accepted the case and fight for me. Summon the seller ask him attend court…end up seller turned up and agreed ti sell. After a year property price increased ady but ofcuz we stil follow the S&P price which is signed on one year ago. So everything start over again, infront bank lawyer that this case reopen and continue. My lawyer on hand got many cases and he staff resigned..so my case pending and delayed but he did request seller to extend complete time. Seller lawyer extended once to me ady, so is excited 3+1 mths ady. On mth 4 nearly mth 5, bank lawyer oni infromed me tat she found my loan oni valid for one year frm te day i purchase the property (one year ago) now no longer valid, need to reapply/resubmit again!! And in this time seller rejected to sell and he gt right to forfeit my 10%..sob sob.

After a month…
my lawyer start chase me lawyer fees 10k, he said he done his job ady, juz the bank panel lawyer found my loan expired too late.

Dear all,
this is my bad experience, if you have any idea can help me…with appreciated plz PM me.

Property Title important,

I saw still many was bbb (blind buy bye).
Buy never ask, check & think.

Property title very important to meaning of what type of your property on hand.

Please buy with smart dont bbb.

Commercial title-soho, sovo, suite, duplex, service apt & etc.
Expensive of water supply, electricity (some will same rate with residential), cukai pintu, cukai tanah & etc.

Residential title-condominium, apartment.
Cheaper of water rate, electricity normal rate, cukai pintu & cukai tanah base on house rate.

To purchased highrise building must sure clean of strata title c/w CF approved before signed for handover keys.

Please correct me if wrong or welcome to add more details. This thread to guide our buyer ask before buy carefully.

SETIA SKY 88 JOHOR BAHRU | INVESTOR FORUM, Iskandar Malaysia's tallest residential

This is Accetera's first thread about projects in Iskandar Malaysia.

Since the popular SetiaSKy88 thread in SkyscraperCity Forums has been closed, I invite fellow forumers especially our friends from Singapore and Overseas to share their experience and thoughts here.

Developer: S P Setia Bhd

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Super325

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Source : http://www.facebook.com/168IM

The Sanderson – Rustic Luxury in Urban Setting

Established in 2002 the Newfields Group has ventured into the property development scene in 2004. They started with the Puchong Gateway, its phase 1 already complete since April 2009, and phase 2 in the process of completion. At the moment, another project of theirs would soon be launched in Sept 2010 – The Sanderson.

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Armanee Terrace II- Convenient Location

The Armanee Terrace II is one of the projects within this triangle that is aimed at a niche market that can afford the price of a 2-storey duplex condominium. There are a total of 518 units available, in a size much larger than its predecessor Armanee Terrace I – around 2000 – 4000 sq. ft. for each unit. Average cost for a single unit ranged from RM831,100 – RM3,618,500. The project will be completed in around June 2011.

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1120 Park Avenue – Affordable Avenue

The 1120 Park Avenue is the affordable residential unit; some refer to it as a medium-cost condominium, others prefer to see it as a serviced apartment. The residential titled building sits upon 12 acres of land, with 1120 units available, with a leasehold tenure of 99 years, starting from its completion date, which is expected to be in 2013 Dec. The price range for each unit is between RM160,000 to RM265,000, depending on your type of unit.

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Featured:

Homebuyer due diligence

A COMMERCIAL transaction normally commences with due diligence being conducted prior to much consideration being put into the written agreement. This measure has two effects it prevents the parties from sealing a detrimental deal and also time wastage over unfruitful discussions.

Essentially, this is an important process to ensure the parties get what they exactly bargained for. The same is applicable in the purchase of new residential properties from developers.

While there have been incidents of abandoned housing projects all over Malaysia that impacted the homebuyers who spent their hard-earned money but did not get their dream home in return, generally the housing authorities had been successful in protecting the interest of house buyers.

Many of these projects were abandoned by illegal developers who did not possess any valid licences to commence the development in the first place.

The Urban Wellbeing, Housing and Local Government Ministrys website showed there were 82 developers without licence and 116 developers who have abandoned their projects as of June 30, 2014.

The question that remains is how could the homebuying public be so ignorant that they are incapable of doing the basic due diligence when making the biggest life-long investment of buying a dream home.

Under the Housing Development (Control and Licensing) Act 1966 (HDA), any developer who constructs and sells more than four units of housing accommodation comes under the purview of the HDA.

Section 18 of the HDA states that any housing developer who carries out housing development without having been duly licensed shall be guilty of an offence and shall, on conviction, be liable to a fine which shall not be less than RM250,000 but not exceeding RM500,000 or jailed not more than five years or both.

Thus, it is compulsory for a developer, prior to developing a housing project, to fulfill the following:

Obtain the necessary approvals from the relevant authorities such as development order and building plan;

Apply a developer licence from the Controller of Housing whereby the Controller has the discretion to grant with or without further conditions or to refuse granting the licence;

Deposit a sum of not less than RM200,000 with the Controller for the grant of the licence which is refundable upon the completion and expiry of the defect liability period of the project (there is an amendment to adjust the deposit sum in line with the gross development cost in 2013 but it has yet to come into force); and

Apply for a sales and advertisement permit to start selling the units of the development.

Thus, a licensed developer would pass the first stage, with checks by the relevant authorities. A unlicensed development would mean these authorities are out of the picture and that development had not been discovered for breach yet.

As such, the next level of due diligence will be significant: the homebuyer himself.

With the advancement in wireless technology today, we google for everything for which we need clarification and information. The same applies for home purchasing. You will be amazed over the amount of information available online: ranging from the developers own website, property reviews to forums started by other homebuyers on the same development.

While it is not advisable to believe everything from the world wide web, it serves as a good starting point to know better the product you are buying before signing the sales and purchase agreement.

A minor website checklist is as follow:

Google

Developers website

News websites

Ministry of Urban Wellbeing, Housing and Local Government

Real Estate and Housing Developers Association (Rehda) and

National House Buyers Association.

In addition to that, you may personally pay a visit to the development itself and make your own observation. If possible, asking around for details would also build up the confidence in buying the right home.

Normally, at the entrance, there will be a white signboard feeding you details of the construction such as the details of the development, landowner, developer, contractor and completion date.

Your lawyer or banker also serve as another filter of due diligence. Before you sign any agreement, it is advisable to ask them on any doubt that you are suspicious about and to be comfortable with what you sign.

Even if you have questions on the credibility of the lawyers, the Bar Council has a website for you to do the checks or even its friendly help desk in its office.

The above due diligence process does not guarantee a 100% smooth property transaction but it minimises the risk of buying a project which could be abandoned. Besides conducting a detailed research, the purchase of a house from reputable developers may diminish your homebuying risk further.

And for any of you who think you might be a victim of unlicensed developer, it is time to call your lawyer and banker for clarification. Owning a house is a lifetime commitment; its protection starts with you.

By The Star

Orando sees healthy sales

NEWLY-LAUNCHED property units are not flying off the booking boards in the showrooms this year, but sales are at a healthy level, according to Orando Holdings Sdn Bhd managing director Datuk Eng Wei Chun.

Having entered the property development scene in 2005, Orando has witnessed the peak of the Malaysian property market when launches were sold out within days or even hours as well as the softening of the market as Bank Negara tightened the reins on financing.

But Eng is not fazed.

The current level of tightening measures to curb price speculation is just nice, any more and the property market could suffocate, Eng says, donning his trademark accessory the bowtie.

If the property industry slows down too much, that would lead to an economic crisis. People have been afraid of a property bubble but the truth is, Malaysia is not small like Singapore or Hong Kong. We have a bigger property market.

He adds that with a young and growing population, it will not be that easy for the Malaysian property market to suffer a bubble.

Earlier this month, Orando launched its sixth project Villa Crystal @ South Desa Park, in Taman Sri Sinar, Segambut, Kuala Lumpur.

The condominium project comprising 414 units on 38 storeys is already 60% sold thus far. Given the current market momentum, Eng estimates the entire project would be sold in another few weeks.

In his promise to provide Swiss-watch quality homes, he says the company believes in building responsibly.

I dont think we should talk only about returns, as businessmen. We should create something of value for society, he tells StarBizWeek.

This year, Orando has won three awards the European Quality Award from the European Business Assemble Oxford, UK; the Five Star Best Residential High Rise Development Award and the Safe Home Award for its Vila Vista project under the Asia Pacific Property Award 2014.

Villa Crystal is sited on 3.5 acres of freehold land a stones throw from Desa Park City, Taman Tun Dr Ismail and Kepong. The gross development value is RM310mil.

There is a link currently being built from Desa Park City to this area. When completed within three years, it would take only five minutes to drive from Desa Park City to Villa Crystal, he says, adding that the link will lead to the Damansara-Puchong Highway.

Villa Crystal units are going for around RM515 per sq ft, or between RM700,000 and RM1.2mil. The built-up ranges from 1,155 sq ft to 1,614 sq ft. The bigger units come with three parking bays while the smaller ones have two.

We are selling at the current price, not the future price, he says.

Its selling points are its high ceiling and a multi-purpose area taking up 10% of floor space in each unit which the home buyer can customise into anything, from a wine cellar to a personal hideout. The area also has its own entrance, therefore homeowners can divide the space for a tenant or the domestic helper.

Small operation, big ambition

Although Orando has a little more than a handful of projects under its brand, it has plans to venture beyond the Klang Valley… into the United Kingdom.

When we were there to accept our award in April, we met some potential contacts for future ventures. Were still exploring the idea of London, he says. Eng has been in talks with a landowner in London and thinks the growth into the British market could be next year, after some feasibility studies.

For now, the companys strategy is still to hunt for pockets of land in the Klang Valley to develop as soon as possible. Orando does not have any projects or land bank beyond this area, currently.

Eng says the groups formula is to build one project, launch another and keep a parcel at any one time.

Of course we would like to keep more land if possible but good land is not easy to find in the Klang Valley, he says, So we look for land with great logistics potential.

Another strategy for the company is to introduce new products into the areas it ventures into, so as to not create unhealthy competition among developers providing similar products.

When we launched the grand lobby condominiums in Cheras, there was no such development in that area then, Eng says.

He puts it neatly: People sell apples, I sell oranges.

To come up with fresh ideas that locals of any area would be receptive to, Eng studies the society of that area in order to understand what it demands or lacks.

You have to look at it through the locals perspective and see whats missing, he says, Like in Segambut, there is no such high rise that offers multi-purpose, dual-key units.

He explains that Segambut and Kepong, being 40-year-old townships, have second and third generation dwellers looking to upgrade.

The younger generation are beginning to settle down. They want to upgrade but dont want to move too far away from their parents. And there is not many luxury condominiums in these areas, he says.

Eng says the buyers profile for Villa Crystal has been largely people in their late twenties and thirties from Kepong.

Orandos previous high rise residential projects include Vistaria and Vila Vista in Taman Pertama, Cheras.

By The Star

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