A simple scenario to share with everyone here, let say if you happen to buy a condominium in year 2004.

Lets take Bayswater as an example:-
Purchase Price in year 2004: 300k
Market Value as in Dec'13 : RM 750K
You are now half a million richer, and not to consider that for other landed properties owner.
This is only assuming that you only have a unit. Just my 2c opinion.

only apply if u can sell it off..

many of these high end flipper took along time to sell and gain profit..
hence u need a large capital to tahan until the property sold.

u need to have money that  can tahan ( installment like 5k-6k, need to tahan at least 2-3 years if lucky)

buying house is easy.. installment part is the hard part

just my opinion la

only apply if u can sell it off..

many of these high end flipper took along time to sell and gain profit..
hence u need a large capital to tahan until the property sold.

u need to have money that  can tahan ( installment like 5k-6k, need to tahan at least 2-3 years if lucky)

buying house is easy.. installment part is the hard part

just my opinion la

From the given example, the condo was bought at 300k, the monthly installment shouldn't exceed RM1600. Where got 5k-6k...

Baywater price rm300k meh 1st launch? Yau mou

Hi

Does anybody know if this new housing rules have been implemented or still no go like last month to give more time to investors?
http://limguaneng.com/index.php/2013/12/08...-bubble-enbmcn/

LGE said this month wants to implement but cannot find anything about it.
Anybody knows?

http://www.thesundaily.my/news/943822

Penang has come up with several new housing rules aimed at cooling down the property bubble.

1. Low-cost and low-medium-cost homes (up tp RM75000) cannot be sold within 10 years unless permission is obtained. Even so, it can only be sold to qualified buyers registered with the Housing Department.

2. Similarly, affordable houses (up to RM400000 on the island and RM250000 on the mainland) cannot be sold within five years, unless permission is obtained.

3. Foreigners can only buy property above RM1m (or landed property over RM2m). A 3 per cent levy on the transacted price will be imposed from 1 February 2014.

4. A 2 per cent levy will be imposed on sales of property (apart from affordable housing) if sold within three years of purchase for S&Ps signed from 1 February 2014.

What do you think? Will this be enough to deflate the property bubble?

My hunch is that a lot of the speculation is taking place in the RM0.5m to RM1.0m category and many of these homes are targeted by locals rather than foreigners.

The full statement from the state government:

New Housing Rules From 1 February 2014 To Protect Penang From Being Adversely Affected By A Property Bubble As Well As Ensuring That Public Housing And Affordable Housing Are Bought By Genuine Purchasers Who Are Qualified First Time Buyers From Lower and Middle-Income Groups.

The new housing rules announced in the 2014 Penang state Budget at the Penang State Assembly and proposed to be effective from 1 February 2014 are designed to protect Penang from being adversely affected by a property bubble as well as ensuring that public housing and affordable housing are bought by genuine purchasers who are qualified first time buyers from lower and middle-income groups.

As a responsible government seeking sustainable economic growth and development, the Penang state government is careful to avoid the pitfalls of any property bubble that will bring hardship to the rakyat and damage the economy. Japan is a good lesson of the dangers of a property bubble.

The state government has set up a RM500 million Public And Affordable Housing Fund to build 20,000 units of public housing and affordable housing in all 5 districts of Penang. This is the largest amount set aside by any state government in Malaysian history to build affordable and public housing.

As a people-centric government, the Penang state government wants to achieve housing democracy that allows every working family to own their own home. Ensuring that public housing (low cost and low medium cost houses) is owned by the poor and genuine first time buyers is our priority.

The Penang state EXCO had during its last meeting refined the new housing rules for clarity and certainty as follows:

1, Public Housing – Low Cost And Low Medium Cost Housing

All low cost homes (up to RM42,000) and low-medium cost homes (up to RM72,500) purchased can not be sold for 10 years. Those who wish to sell during the first 10 years must appeal to the state government and can only be sold to “listed buyers”. Listed buyers are those who have registered with the Housing Department of the state government and are certified as low income groups that are qualified to purchase low-cost or low-medium cost housing. This 10 year rule will cover all past and future purchases. The balloting of houses will be subject to oversight by an auditing firm.

2. Affordable Housing

Affordable housing is classified as houses which were initially purchased below RM400,000 on the island and RM 250,000 on the mainland. Affordable housing purchased can not be sold for 5 years. Those who wish to sell during the first 5 years must appeal to the state government and can only be sold to “listed buyers”. Listed buyers are those who have registered with the Housing Department of the state government and are certified as middle-income groups that are qualified to purchase affordable housing. This 5 year rule will cover all past and future purchases. The balloting of houses will be subject to oversight by an auditing firm.

3. Purchases By Non-Citizens

Non-residents can only purchase properties in Penang in excess of RM1 million and for landed property on the island must exceed RM2 million. All purchases of properties by non-residents will be subject to a 3% levy on the transacted price from 1 February 2014. Exemptions are provided for purchases for industry purposes or for a purpose that promotes employment, education, human talent or promoting Penang as an international and intelligent city.

4. 2% Levy On Property Purchased After 1.2.2014 Sold Within 3 Years

A 2% levy will be imposed on the seller for all property sold within 3 years from the date of the Sales & Purchase Agreement(SPA) signed from 1 February 2014. In other words, this is not retrospective. Properties bought with the SPA signed before 1 February 2014 will not be subject to this levy. Only properties bought with the SPA from 1 February 2014 will be subject to the 2% levy if sold within 3 years. This 2% levy is not applicable to affordable housing.

Preliminary discussions were held between some property players and housebuyers but the state government is prepared for further discussions with all stakeholders

LIM GUAN ENG

Source: http://anilnetto.com/society/housing/can-n...roperty-bubble/

With skyrocketing house prices, speculation as well as affordability issue among the key concerns of the people, one would wonder what the year of the horse would bring to the Penang property market.

Will it be as smooth and successful just as the horse is a sign of speedy success to some?

Notably, Penang's property market moderated in 1H2013, with total number of properties transacted falling 27.3 percentage points to 11,550 transactions from 15,891 transactions over the same period in 2012.

Despite the drop, the residential sector still accounted for the bulk of the transactions, albeit total transacted value contracted marginally at 4.4 percent.

Existing total supply of residential properties within the state as of Q3 2013 stood at almost 372,000 units, of which 54 percent can be found on the island and 46 percent on the SeberangPerai.

Over at the north-east district, a number of new luxury condominiums were transacted at above RM1,200 psf. On average, psf prices of condominiums within the area range from RM500 to RM8000.

Aside from the hike in building cost, the trend towards upper quality specification and lifestyle concept in 2013 have also contributed to the higher selling prices of new projects, for both high-rise condominiums and landed properties.

Generally, landed residential properties fetch lower rental yields at two to three percent, while condominiums and apartments offer slightly higher yields at around four to five percent.

While major KL-based property developers have made their presence felt in Penang, due to their confidence on the future of Penang's real estate market, land scarcity, especially on the island, remain a major challenge.

Meanwhile, 2013 saw the introduction of various cooling measures not only from the federal government but also from the state government.

These include the increase in real property gains tax (RPGT), the removal of the Developer Interest Bearing Scheme (DIBS) and the increase in the minimum property purchase by foreigners from RM500,000 to RM1 million.

In addition, the Penang state government also unveiled new housing rules in 2013 which pegged the minimum price of properties to be acquired by non-residents in Penang at more than RM1 million and over RM2 million for non-landed property situated on the island. It also imposed a three percent levy on the transacted price of the properties purchased by non-residents from 1 February 2014.

Nonetheless, properties purchased for industry purposes or to promote education, employment, human talent as well as to promote Penang as an intelligent and international city are exempt from the said levy.

The state will also impose a two percent levy on the seller for all properties sold within three years from the date of the Sales & Purchase Agreement (SPA) signed from 1 February 2014.

This implies that properties bought with the SPA signed prior to 1 February will not be subject to the levy. Also, the two percent levy does not apply to affordable housing.

Moreover, Bank Negara Malaysia capped the property loans period to 35 years from 45 years previously in June 2013.

With these measures, the property market is expected to experience some knee-jerk reaction,  with property sales likely to moderate in the short-term.

The measures will likely hit speculators more than long term property investors, genuine home buyers and property developers. Specifically, the measures on foreigners are aimed to significantly curb foreign speculators on bulk buying, particularly on new projects.

The impact of the measures will see the market self-correct in the medium term due to the relatively healthy demand in the affordable market segment (below RM1 million). On the other hand, upper-end property market segment will likely soften, especially those new projects aimed at niche overseas market.

In 2014, Penang's property market is expected to remain cautiously optimistic, on the back of the state's healthy fundamental, such as shrinking average household sizes, fairly young population demographics, stable income levels, low unemployment rate, bright job opportunities as well as increased local and foreign investments.

Since property is a long term investment, the new budget measures are expected to bring positive notes to deter excessive speculation and promote long-term investment.

Notably, the rise of a new enabler – the RM4.3 billion 24km-long Second Penang Bridge – in Penang in January/February of 2014, will provide a better connectivity between the Bayan Lepas Free and Non-Free Industrial Zones (via BatuMaung) as well as he BatuKawan new township and industrial park on the mainland (District of SeberangPerai Selatan).

This will not only bring more opportunities both on the mainland as well as the island, it could  also see investors looking into the future potential opportunities of the landbank surrounding the intersection of the Second Penang Bridge and the proposed new highways.

Overall, Penang's property market is expected to see more excitement in 2014.

That’s not all, the 2014 Malaysia Property Exhibition (MAPEX) will also be held at G Hotel Penang on 2-4 February. Jointly organised by the Housing Developers’ Association (REHDA), and Henry Butcher Malaysia (Penang), the event will witness a smorgasbord of sought-after properties.

MAPEX 2014 is also expected to draw lots of crowds, with media partners Property Guru and Kwong Wah Yit Poh, along with major participating developers such as IJM, New Bob, UDA Land, Airmas Group, Chong & Co, Sunway Grand, Plenitude Bhd, Tropicana Corp, DK-MY Properties, Boon Siew Group, Bertam Properties Sdn. Bhd. And East West One Marketing Sdn. Bhd.

The event will also be graced by property professionals who will discuss the latest trends in the real estate scene, as well as vital information like legal concerns, taxation, investments, mortgages and Penang’s emerging hotspots. Furthermore, a Feng Shui master will also share his knowledge on how to grow your wealth and improve your health in the year of the Wooden Horse.

Source: http://www.propertyguru.com.my/property-ne...et-outlook-2014

I need help from Penangites, recently im interested to buy delima intan apartment in Juru for 140k, but the agent told me that the house only can sell to penangite, im not a penangite so not eligible, do Penang got such rule? which type of property under such rules? where to check whether the house im interested is under the rule or not?

if is a LMC housing yes..

salary Above 3k, got house already, non state person <--- all above cannot buy LMC house..

to bad.. even LMC house is expensive.. 

normal i will ask if is LMC or not..LMC= Low Medium cost house under government

yeah ~ looking for a ~300k apartment (new or old) in penang ~

not qualify for LMC becoz not a penangite ~

not familiar in penang ~ sifu tolong tunjuk ajar ~

apa area.. 300k in island u can get max 800sf apartment only

apa area oso can ~ since i not familiar ~ welcome any inputs ~

yeah ~ apartment as long as > 700 sqft

thanks in advance

u better know what area u wan before u decided.

example: where u work, where u wanna stay

tangjung bungah and bayan lepas is very far away.. both also have 300k apartment.
balik pulau also got

do your home work 1st 

hahaha~ okok

with 300k >700sf most apartment u can find in:-
relau, air itam, paya terubong, balik pulau

All is old building..