theSun Property July 2016

theSun ON FRIDAY

MARCH 11, 2016

theSun ON FRIDAY

JULY 22, 2016

Email your feedback and

queries to: propertyqs@

thesundaily.com

>What goes downmust come up

Change

scene

CCORDING

to real estate

specialists Jones Lang

LaSalle (JLL), the

Malaysian residential

property market can expect a

window of opportunities this

year. In fact, some major

developers have commented that

the market has already bottomed

out and a rebound is on its way,

if not already.

In light of that, we briefly run

through the property outlook

over the past few years and

highlight upcoming

development projects expected

to change the real estate scene in

the country.

PRE-2016

The Malaysian property sector

was reported to be “sizzling”

after the world experienced a

financial crisis. Between 2009

and 2013, prices of houses in

some areas of our country

doubled within just a few years.

As the property market boomed,

the government introduced

some cooling measures which

included:

adjustment of the Real

Property Gains Tax (RPGT);

revision of the minimum

purchase price of residential

properties for foreigners to RM1

million;

abrogation of the Developer

Interest Bearing Scheme (DIBS);

and

stricter rules and guidelines by

banks on approving housing

loans.

The outcome:

the measures

dampened speculation, sentiment

in residential property remained

poor, and with the growing

economic uncertainty the number

of transactions and the value of

residential properties took a dive

(especially in 2015, compared to

2014). This saw developers holding

back their launches, citing

negative consumer sentiments.

Moreover, a rise in costs further

affected the industry as the Goods

and Services Tax (GST) was

implemented in April 2015.

Adding to the negative impact

towards end of last year and early

this year, were political

uncertainties,

our plunging

currency and

oil prices, all

which led to a

sluggish

economic

outlook.

Although

many claim

the near-term

outlook for

the residential

sector looks

unfavourable,

JLL experts

think this

Real estate steals anddeals

Until July 31, 2016, purchasers of

selected IJMLand properties can

fulfil their “dreams”.

For a start, you can live in your

“dream home” instalment-free for

up to 12 months and receive a

luxurious holiday to ClubMed Kani

inMaldives, courtesy of the

property development firm.

Projects that allow purchasers to

enjoy the above mentioned perks

and benefits include real estate

located in:

Negeri Sembilan

– Seremban 2,

S2 Heights, Seri Binjai;

Selangor

– Bandar Rimbayu in

Shah Alam;

Kuala Lumpur

– Pantai Sentral

Park;

Johor

– Epic Residences;

and

Sarawak

– Riverine Diamond

Kuching Riverine Resort.

Another exceptional campaign not

to be missed is “Beli Rumah, Jom

Umrah”. Ideal for Muslims

intending to perform their hajj in

view is based on sentiment rather

than fundamentals. “Despite

concerns over a potential glut of

properties in certain areas, the reality

is that demand for housing, especially

from young or first-time home

buyers, is still very strong.”

However, there was no denying

that loan approvals from commercial

banks has not kept up with the

demand for housing loans.

GAME CHANGERS

As the market has been slowly

chugging along, there are several

exciting developments that have

been taking shape in and around

the country. These are expected to

be game changers, projects that

will alter the property market scene

and breathe some life and energy

into it.

Below are snippets of information

on some of the projects that will

alter the real estate and property

development scene.

1) MRT line

– The 51kmMRT

line is expected to be fully

operational by 2017. It is aimed

at improving connectivity within

Greater KL.

Mecca, bumiputras who purchase

selected IJMhomes in Seremban

can receive an all-inclusive 12-day

umrah trip for two. This campaign

is a collaboration between the

developer and Andalusia Travel &

Tour company, famed for its

Muslim tour packages and trips.

Purchasers who feel they are not

ready to carry out this sacred

undertaking can also

transfer

their umrah packages

to their parents.

Other benefits to

enjoy include easy

ownership packages,

low down payment,

0% interest

instalment schemes

for up to 36 months

and a Priority

Programme that

provides cash rebates

and rewards. Kindly

note that terms and

conditions apply.

With only a few days

left till July 31, get more

details on the value deals

and fantastic campaigns

by visiting the

developer’s website, its

head office or show

galleries. If not, take a

drive down to Seremban

2 and pop over to the

developer’s gallery.

As it is, some stations are

already operational and

have opened up avenues of

opportunity for many.

“According to the plan, the

line will have 31 stations

connecting the northern

and southern parts of

Greater KL.”

2) Cross-border high

speed rail (HSR)

– There

has been much talk about

the HSR project aimed at

reducing travelling time

between Singapore and

Malaysia to some 90

minutes. This is not

subject to waiting time,

transfers and immigration

clearance. Nevertheless,

while the HSR stations are

yet to be confirmed, it has

been reported that the

Malaysian terminus will be

established in Bandar Malaysia

and the route will have five transit

locations. The HSR train will pass

through the states of Johor,

Malacca and Negeri Sembilan.

3) Bandar Malaysia

– Planned

where the Sungai Besi airport is

currently situated. According to

Prime Minister Datuk Seri Najib

Tun Razak, Bandar Malaysia is

slated to become “a modern

metropolis providing high quality

living and good connectivity ... an

exciting prospect”. The township is

expected to be fully integrated,

above and below ground levels,

earmarked as the largest

underground development that

will include high-rise buildings and

waterways.

As the market is slated for

change, follow our column next

week to learn of JLL’s view on the

scene in northern Penang and

southern Johor, plus reasons

Malaysians should be optimistic.

High Speed Rail (HSR) from Kuala Lumpur to Singapore

SELANGOR

KUALA LUMPUR

PAHANG

NEGRI

SEMBILAN

MALAYSIA

Seremban

Putrajaya

KualaLumpur

International

Airport

PortDickson

AyerKeroh

MELAKA

JOHOR

Muar

BatuPahat

Pontian

Nusajaya

Kukup

Jurong

East

Changi

Airport

SINGAPORE

High-speedrail linestations

Byair

Bytrain

Bycarorcoach (North-SouthHighway)

PART1

PHOTO: THEEDGEPROPERTY.COM.MY

Bandar Rimbayu.

Public Transport Network

Completion / Commencement

LRT line Ampang – Putra Height

CompletionMarch 2016

LRT line Kelana Jaya – Putra Height

Completion mid-2016

MRT Sg Buloh - Semantan

Completion December 2016

MRT II from Sg Buloh–Serdang-

Commence 2016

Putrajaya

Completion 2022

LRT 3 linking Bandar Utama to

Commence 2016

Shah Alam and Klang

Completion 2020

High-Speed Rail

MoU signed

Pan-Borneo

Completion 2021

[Retrieved fromNAPIC]

Artist’s impression of Bandar Malaysia.

Aerial vewof S2’s city park and government precinct

Retrieved from JLL