Property Malaysia

Got this from PRweb. You can get do a course in real estate – off the internet! A company called RealtyU has created a web-portal with over 1,900 real estate courses, available to anyone, anywhere and anytime.

Apparently, more than 30,000 people have benefited from these courses to be licensed real estate agents and other qualified personnels. We’re not sure whether they accept international students, though.

Check it out here.

Tomorrow is Malaysia’s 48th National Day. We wish all our friends, associates, valuable readers and esteemed supporters ‘Selamat Hari Kemerdekaan’.

We’ll be taking a break on Wednesday, August 31, and DAILY updates will continue on Thursday. Almost two months running, and we’re proud to bring you a quality update everyday.

And also, to all Malaysians – Happy Home Buying & House Hunting!

A friend of our once joked that in order to ensure a new project sold well, all the developer had to do was to add the word ‘Damansara’ to the development name. That’s not entirely untrue, we now have launches in Kepong and Sg. Buloh calling themselves ‘Damansara’ (even though the survey map may disagree)

But Damansara Heights is a whole different kettle of fish. It’s synonymous with elegant bungalows for politicians, wealthy businessmen, directors, and top civil servants. Through the years it has managed to maintain its ‘old money’ image by limiting the development of the lush greenery and hilly terrain (as opposed to the tacky/gaudy kind of new-money rich of, say Sg. Besi). But slowly, the office blocks and new developments are slowly inching into the domain of the rich and famous.

But one new development that tries and manages to blend into the surrounding is the cleverly named Idamansara (‘idaman’ means dream or aspiration). Set on oddly shaped 13acre land between older bungalows, there are 82 semi-D units and 8 detached (bungalow) units, nestled neatly on 4 streets. Access is off Jalan Semantan. It’s a gated community, enclosed on all sides by existing homes. No clubhouse, no parks, no playgrounds, no landscaped gardens. Just the old shady trees and rich neighbours.

But wait, the homes come lavishly laid out, with a pool (‘water court’) and large timber deck for every unit. Every unit is basically the same with 3 storeys (yes, THREE, not 2 ½) and spacious 5+1 rooms, all with attached bathrooms. Everything here reeks of luxury and space, from the finishes, timber & concrete façade, fittings, timber door, sanitaryware, etc. (a far cry from the tight, stuffy linkhouses we’re used to here in Property Malaysia.)

The living and dining is deck in full height glass doors to enable you to view the water court and garden, and also for the rooms on the higher floors. Solid brickwalls between units gives privacy to your home. We must also must mention the double volume dining for some of the units. Very nice. Plus, some of the detached units have their own lap pool.

Understandably, 2 parking lots are definitely not enough for most families, so the developer has thoughtfully provided recessed kerbs for roadside parking. The entrance to the development is an epitome of class with a low granite wall and imprint concrete road.

Of course, built-in items are to be expected for this kind of quality. And Idamansara does not disappoint – ceiling fans (not just the point), air-conditioning, water storage tank and autogate.

In terms of pricing, of course we here at Property Malaysia can only dream of this kind of place, we are not even in the same class as the chauffeurs and cleaning maids of the people who will stay here in Idamansara. But judging by the cost per square foot and finishing materials they provide, and taking into account factors like the location and surroundings, we would say that the pricing is pretty reasonable. We expect the units will be snapped up in a short period. There aren’t many projects like this available in Damansara Heights, and at this price range.

E&O are reputable developers that are always associated with stylish designs at Dua Residency (serviced apartment along Jalan Tun Razak), Seventy Damansara, E&O Hotel (Penang), 202 Desa Cahaya, Sri Se-Ekar, Seri Tanjung Pinang (Tanjung Tokong, Penang), Kampung Warisan and Lone Pine Hotel.

The woes of condominium living made the front page of the Star, the most widely read English daily in Malaysia (you can read the online version here). According to the article,

About 70% of the condominiums and apartments in the country are being badly managed, resulting in the residents having to put up with deplorable, and even downright hazardous conditions.

The article also says that:

The problem is more acute in older buildings.

This is despite residents forking out a monthly service charge of between RM50 and RM500 or even more.

The article highlights the common problems faced by both the residents and management companies, as described by the National House Buyers Association (HBA) (link available at the sidebar).

The Star also invites readers to send feedback regarding this issue (e-mail it to feedback@thestar.com.my).

Alternatively, you can also take the Strata Title Property Owners’ Survey at the HBA website.

You can also check out three other related articles in the Star:

Residents living in fear
Management firm gets an ‘A’ from teacher
Malaysians lack right mentality to live in high-rise

This is the new addition to the growing number of ‘KLCC condominiums’ (for further reading, check out here, here and here), developed by the Glomac group of companies.

It is situated in what they term as the ‘Stonor enclave’ which is a secluded area on Persiaran Stonor (linking Jalan Binjai and Jalan Tun Razak), surrounded by colonial bungalows and the Vietnamese embassy. The site is fairly large compared to the other condos, they are able to fit two large towers instead of the usual single block. In terms of location, it can be said to be quite good, in a less congested area of the KLCC development area, with two choices of access road, but ultimately people who would buy a KLCC condo are most likely to be fully aware of the problems and perks.

As for the view, in our opinion nearby Binjai (by KLCC Properties) and Stonor Park (by Benetton Properties) partially obscures the view of the Twin Towers, and maybe as such they have chosen not to emphasize too much on the ‘KLCC view’ angle. They market it as ‘city view’ for one side of the towers and for the other side, ‘Golf view’ (referring to the Royal Selangor Golf Club).

There are 3 types of units for sale here – single units, one type of duplex and penthouses (only 4 units available). The single units constitute about three-fourths of the units availability, and are actually 2 different layouts, each with 3 sub-variants.

The Suria Stonor basically targets the families buying to stay, be it locals or expatriates. Therefore, they put some thought into the design and layout to express this intent, with larger units (minimum is 3,106sq.ft.), garden / water feature / planting area in foyer and balconies, good number of rooms (we’ll come to that later), and spacious areas all round.

For the single units (which they call residential type) they have a choice of 3+1 or 4+1 rooms. But for the 4+1 version (3,264sq.ft.), they have an additional AV room which can easily be converted to another room, equipped with its own attached bathroom and study. The master bedroom is luxuriously large, with an impressive walk in closet and bathroom equipped with Jacuzzi. The other rooms are also generously large, no complaints here. Even the living and dining are spacious, the visitor is greeted with a good impression when he/she first steps in.

The smaller unit 3+1 version (3,106sq.ft.) is also very spacious (this theme is pleasantly evidently throughout). However, there is no convertible AV room here. But we did find the Asian / wet kitchen a bit small and narrow, this may be alright for the ‘microwave’ generation, but maybe not for the large Asian family.

For the duplex unit (5,447sq.ft.), it is nothing short of breathtaking. The entire living and dining is double volume, with generous full height glass windows, which gives a brilliance in design a few other developments can match. The higher floor has a safe, tempered glass railing, in fact all the units have big glass windows to allow natural light while giving a good view. The duplex unit has 5+1 rooms, including 2 master bedrooms (equally large) and one with is the abovementioned convertible AV room + study / bedroom. The main master bedroom has an interesting open air shower, we’re not sure how many buyers would go for this idea!

Again, the Asian is small, and there are 5 areas that can be used as a private garden or water feature. This is basically in line with their ‘garden in the sky’ concept.

The common facilities are basically average, with the basic pool, gym and playground and function halls. We also like the idea that ample parking is provided for each unit, in contrast to some developments that provide only one bay per unit.

All units come with fit out toilets (including shower screen) and master bedroom has wardrobes installed. For the other rooms and kitchen, the space for wardrobes are nicely prepared. Units also have a private lift lobby as a boon for the budding interior designer in us. All units also have an uncommonly high 13’ ceiling. The price is also reasonable beginning at RM750psf., which means the lowest unit going at about RM1.7mil.

In conclusion, you can gather that we were impressed by the layout, design features and large spaces. Lack of view and common facilities may influence some buyers, but we feel this is a worthy consideration in the competitive KLCC condo market.

We were requested to view this development by one of our friends who was house hunting. Incidentally, this review concludes the five condos we view one fine Sunday (red our reviews for USJ1 Avenue, Dana 1 Residence, Desa Impiana and Tiaraville).

Our very first comment was that the developer and the buyers know fully well that it is a good location (not fantastic, but still good). So what’s the big deal about the location? Firstly, its heaven sent for people looking to stay in PJ. Landed properties are hard to find in this area, unless you head to Kota Damansara, or want to look into second hand homes in the older PJ areas.

Or you can go for apartments, like Sterling@PJ. Its located that the ‘condo central’ of PJ, in Kelana Jaya off the Lebuhraya Damansara Puchong. There are quite a few turnings off the highway, so make sure you take the right one, or else it’s a long loop of a drive to get back. It’s actually quite far deep in, next to the NKVE.

So at this location the perks are being right in PJ, accessibility to Federal Highway, NKVE, Penchala Link, Damansara, etc. However there is only one access, and as it is traffic is usually heavy during peak hours here.

There are two main blocks with multiple interlinked towers, giving you a fairly massive development of 611 units over a 7.6 acre land. There are basically 3 types of units available, 1,902sq.ft., 1,442sq.ft. and 1,259sq.ft. Show units for the former two are available, sales office is before the project site via the same access. All 3 types are built-up on a rather squarish footprint, so the internal layout reflects this limitation. (Please also note some of the floor finishes are not you’ll be getting in the actual unit).

For the largest unit (‘Ashford’, 1,902sq.ft., 4+1 rooms), we have an impressively large foyer/dining/living, suitable for big families. Then there is a split level up to a not-so private study, and access to 4 rooms. Only the master bedroom has a private attached bathroom, two other rooms share a common bath while the last bedroom has a detached bath. The maid’s room/utility has no bathroom either. Some families are quite particular with this, but overall we’re not complaining.

The second unit (‘Belmont, 1,442sq.ft., 3+1 rooms), has a narrower living / foyer, while the dining is set up on a split. Personlly we’re not fond of split levels, it usually means a stubbed foot or minor accidents for children. The interior design for this unit blends the drop quite well, but to emulate it in your unit would mean no small sum. There are only 2 baths in the whole unit.

The smallest unit (‘Chester’, 1,152sq.ft., 3+1 rooms) is a proportionally smaller version of the second type.

Some of the lowest-level units (first floor) come with a private garden.

The units come bare, without any air-conditioning or cabinets or built-ins. This keeps the cost of the unit to an acceptable price, but somehow we’ve seen a few other developers able to package it in at a minimal cost. So you’ll have to factor in these fitting-out costs if you’re moving in.

The common facilities are quite comprehensive, too, with a clubhouse and a good sports complex, swimming pool, high tech security, outdoor jacuzzi, 5000sq.ft. of open lawn area and other serviced apartment-type facilities.

The architecture of the building is also quite remarkable, a slight departure from the tacky pastel colours we’re more accustomed to.

So what’s our view? Good location, basic layout of units, slightly pricey, quite dense development, access a little congested.

The parent corporation is also the people behind Kelana Mahkota, which was in the news recently.

We just something in the mail today, PJ8 will be launched next weekend! For those who haven’t seen the ads along the Federal Highway, PJ8 is a premium office block, commercial / business centre and luxury serviced apartment development opposite the PJ Hilton and Asia Jaya LRT station.

The details of the launch are as follows:

Date: 3rd & 4th September, 2005
Time: 10am to 5pm
Venue: Ground Floor, Wisma IJM, Jalan Yong Shook Lin, PJ.
(For enquiries, call 03-7985 8189 / 190 / 192)

PJ8 is developed by IJM Properties, a subsidiary of IJM, one of the biggest and best-run construction companies in Malaysia.

So, keep that weekend free, and hopefully you may get to see Team Property Malaysia there!

This project was launched sometime towards the end of last year, we visited them while they were promoting in nearby Nikko hotel. Last week, while we were in the area, we dropped by again to check them out for this website. First off, it is commonly mistaken with the nearby Binjai by KLCCP.

The building is right smack in the centre of KLCC condo central. It’s surrounded by Nikko Hotel/Menara Citibank, Wisma MCA, Menara TR, the recently launched Troika (by BRDB) and the existing Corinthians & Suitestay apartment. Access is via a narrow road off Jalan Binjai that ends directly at the Binjai Residency.

The layout of the units are typical for all levels, there are four identical units per floor. Each unit is about 2,000 to 2,200sq.ft. depending on the unit orientation. On the 24th up till the 29th floor, the units are slightly bigger (2,326sq.ft.) due to a cantilevered overhang, which give the façade of the building a slightly top heavy, not-so-prismatic look.

The ground until the 4th floor is for parking, and the common facilities are at the 5th floor. They have a large pool, pool deck lounge and severy, childcare centre, laundry, multi-purpose hall gymnasium, etc.

There isn’t much to fault the location, being a KLCC condo and all. It’s just walking distance to the Ampang Park LRT station, and the taxi stand at the Nikko Hotel. And there’s the KLCC thing. And shopping. And access to the golden triangle, and the works.

And so we come the view, the so-called ‘selling point’ of most KLCC condos. Being clustered together with a few other high-rise buildings, they have cleverly marketed the apartments with a choice of two views, ‘KLCC view’ (a pretty good view… for the moment), and a ‘Nikko Hotel pool view’ at the other side of the condo. Why people would be greatly attracted to looking at a hotel pool is still debatable at the moment. But the management should be commended in coming up with a strategy to make the most of what their project can offer.

At the time we viewed it last week, both sides of the apartment were selling quite well. In our opinion, one of the biggest advantage of the Binjai Residency is its excellent location, at a reasonable price. Averaging at RM700psf, it is not too extravagant, while offering no less facilities and luxuries than the other nearby condos. The prices of below RM1.0mil to RM1.8mil is decidedly attractive to the local and foreigner buyer.

Now, for some drawbacks. Each unit has only one parking lot allocated for standard units, and more are available for sale. In total, there are 200 bays only, which comes out to less than 2 bays per unit. With families and tenants having 2 or 3 cars these days, what we’ll have at the end of the day is cars parked on the already narrow and congested access road and Jalan Binjai. Already Jalan Binjai is always jammed up with double parking at peak hours due to the LRT station, Citibank and Lotus Restaurant. This may be a cause of concern for the potential buyer.

With all units being almost standard, there is really not much choice, unless you’re going for the penthouse. The internal layout of the standard unit gave us the feeling of being cramped, but it was due mainly due to the wall configuration. Furthermore, the living room is small, with an additional ‘AV room’. We suspect most buyers would want to remove the AV room to get a bigger living/dining. The powder room would most probably go, too. The layout also struck us as traditional, too, rather rectangular-ish compared to others around.

In conclusion, we liked this place. It’s suitable for families and investors, and jetsetting yuppies. It doesn’t have the frills and extravagant luxuries of other nearby more condos, but its reasonable pricing works to its advantage. So, do you prefer the ‘KLCC view’ or ‘Nikko Hotel view’, sir?

Got the real estate investment bug? You aren’t alone.

Everybody seems to be interested in getting into it these days, but it is not without its pitfalls. We found this excellent article (at this site), which give 4 basic tips to the budding investor:

Buy your own home first.
Buying a home will not only put a roof over your head, but teach you the true cost of property ownership beyond the monthly mortgage payment, give you a primer on financing, school you on how location and changing market conditions affect property values, give you the angle on tax and other home owning benefits, help you learn about property maintenance, introduce you to a host of professionals who could prove invaluable when you really get into investments and otherwise act as a prerequisite foundation for higher studies in real estate investments.

Go back to school
After you buy your own home turn to the Internet, libraries of books by reputable authors, successful, credible investment groups, college and university level courses. Individual real estate investors, salespeople and others who you met on the way to home ownership may also be valuable resources, both for information and perhaps as a mentor.

Get professional help
Seek referrals from friends, family, professionals with whom you already conduct business, co-workers and others you trust who’ve recently had a satisfactory, successful experience investing in real estate. Someone who already knows the ropes comes in handy when you need a leg up on a deal.

Learn your investment market
One market’s bubble could be one investor’s boom and another investor’s bust. A home in one market could give you vacation rental income in a half year sufficient to cover the cost of principal, interest, taxes, insurance, home owner association dues, upkeep and other costs, but not appreciate, while another home in another market won’t bring you enough rent to cover your expenses but appreciate more than enough to make up for it over the long term.

Read the entire article here.

Other Articles in Property Malaysia:

The Three Myths of Condo Buying
Methods of Buying Property in Malaysia
Deciding Your Property Rental Market

We have been seeing this development advertised along the MRR2 for some time now, and also saw it during the recent Homebuyer Expo in KLCC. So a few days ago, while we were in the area, we dropped by to take a look.

First, location. Directly off the MRR2 (that’s the Middle Ring Road Two), you have to pass through a few narrow roads inside Bukit Antarabangsa to get there. It’s not all that bad, Bukit Antarabangsa is a very prestigious address for most people. Once past the older houses, you see the existing clubhouse and condo development (by the same developer).

Laman Oakleaf is set on two pieces of oddly shaped adjacent lots, in between an older housing estate. Its gives a feeling of filling up available land with new housing (amongst older houses) but we suppose it tells the tale of the scarcity of ‘buildable’ land in the Ampang/Ukay area.

So what we have is one lot of gated development with double-storey terrace houses and semi-Ds, while a few 2-and-a-half storey units are built on an adjacent lot, without gated facilities. The two lots are not interconnected by roads, you need to go through another development to access the second lot. Confusing? Once you see the layout plan, it’ll become very clear.

All in all there are 134 units with 3 types – semi-Ds, 2-storey terrace and 2-and-a-half storey terrace. The latter two units are basically the same in terms of layout and built-up, except in exchange for a third floor, the lot size is slightly shorter. We found the terrace units are quite basic in design and features, in fact it struck us as almost too similar to some units we’ve seen in Puchong. There are 3+1 bedrooms: master bedroom has an interesting walk in wardrobe, but the other rooms are identically small. And they both share a bathroom. But this unit comes with a covered wash area as a backyard, so you won’t have unsightly renovations at every other house. (That’s not saying it won’t happen…)

For the 2 ½ storey units, the build-up is unbelievably short, but it has 2 fairly large rooms, plus 2 smaller ones. And a roof garden.

The semi-Ds are more luxurious, with 4+1 rooms and bigger spaces all round. The living area is cozy and well integrated with the dining. They offer a large dry kitchen, Western-style, but the dry kitchen is mighty small and secluded like an alcove. Plus it’s dark and un-ventilated. If you do a lot of Asian cooking, you’ve got to consider this. One interesting feature for this unit type is the earth garden in the ground floor toilet. Either you love it and cultivate it to match the theme of your beautifully designed home, or you’ll just spend RM2000 to cement and tile it up. At the time we viewed this unit, it had been sold out.

There is not clubhouse, but buyers are entitled to use the nearby Oakleaf club for a limited period. So other than a guardhouse, gated features, impressive home security features, a small communal garden, lack of available land has limited what Laman Oakleaf can offer. But being in Bukit Antarabangsa, it benefits from a prestigious address, which the extremely good sales can attest.

But after viewing the development and the surrounding areas, we can’t help but feel the cramp-ness of it all. The roads, the terraced houses, the nearby houses, the green areas, the access roads, the whole gig. But we suppose this isn’t any fault of the developer, they only build on whatever land they have, and in that sense they have done quite admirably. But still…

A word on the developer, it is the subsidiary of the larger PJ Development Holdings Group, which has interest in many sectors like the Swiss Garden Hotels. They are quite old hands in property, too, having successfully completed the Kensington Park Homes and Hartamas Regency I & II (all in Sri Hartamas), Endah Puri (in Sri Petaling) and developments in other states.