Showing posts with label Malaysia Property News. Show all posts
Showing posts with label Malaysia Property News. Show all posts

Saturday, May 12, 2012

產業經紀遇害迴響‧刀下逃生經紀現身說法‧8招防匪客


(檳城11日訊)女經紀曾彩美帶客看屋被殺及棄屍水壩命案令人不寒而慄,並讓7年前僥倖從假租客刀下逃生的黃雪芬重新憶起自己當年慘遭假租客亮刀亂割全身,鄰家婦女見死不救並馬上關門自保的恐怖遭遇。
儘管她後來幸運得救,但她當時被假租客扯著頭髮拖進屋子以亂刀割身至鮮血淋漓的恐怖畫面,卻如鬼魅般糾纏至今。
她說:“現在只要有人在我身後,我就會莫名其妙地緊張起來。”
地產經紀經常要帶陌生人到空置單位工作,因為孤身一人,所以很容易成為匪徒下手的目標,去年就有多倫多金牌華裔經紀韓建國被綁架後撕票案,日前則有大馬女經紀帶客看屋被殺命案。
2005年轟動一時的檳城女經紀遇劫案,受害者黃雪芬克服心理障礙,帶著依然觸目驚心的疤痕,勇敢接受《光明日報》的專訪,憶述那個生死一線間的遭遇。
鄰家婦關門見死不救
儘管往事已逝,但憶鮮明,重提7年的遭遇,黃雪芬多次雙眼泛紅。
“我很清楚記得,當時,我在報章上刊登了產業出租廣告,後來就有一名華裔男子打電話來說要看房子。那人說華語,當時,我對他說,他要看的房子已經有租戶了,他就掛了電話。可是,沒多久,他又來電說要看另一間屋子。我一說那是一間空房子,他馬上就說想看。”
現年29歲的黃雪芬說,她19歲開始當房地產經紀,多年來還算順順利利,沒想到那會是一個圈套。他們約在某一天的下午兩點半見面,她不疑有他,所以單獨赴約。
“那天,還沒到兩點半,他就來電說他已經抵達。當時,我就有點奇怪,很少客戶會比經紀人還緊張。”
“對方30多歲,長得很高大。我第一眼看到他,就覺得毛骨悚然,有種不祥的感覺。我希望他不是我的客戶,偏偏他正是。”
她說,她清楚記得他當時的打扮,戴著一副黃色鏡片的眼鏡,頂著一個鴨舌帽,很明顯不想讓人看到他的真實模樣。
“我只記得他有顆門牙是斷一半的,他還很有禮貌。我有點防備他,我打開門後,就站在門外,要求他先進去看房子。”
她說,他進去看了一個小時,她開始覺得不妥,就撥電話給朋友,說她遇到一個奇怪的客人,還故意提高聲量,好讓這名客人聽到。
她等得不耐煩,就問他要不要租,對方謊稱他是替老闆看,還要她進屋去接電話。
黃雪芬當然是不願意,並指她過後將親自聯絡他的老闆,接著,她就說要走了。
原以為一切要結束,對方也走出房子了。可是,就在她打算離開時,卻想起窗口好像還沒關,於是就進屋去關窗。
“我才踏進屋子一步,對方就從後面衝來用刀片指著我的頸項。我一驚就不斷掙扎,甚至蹲了下來大叫。接著,我靈機一動,馬上按手機最後撥出的電話,並且大聲叫喊。對方見我撥手機,開始失控,他一刀又一刀地往我身上亂揮亂刺,我只知道我滿身都是血,已經害怕得不知道痛是甚麼感覺了。”
假租戶邊捅邊喊我要錢
黃雪芬說,假租戶不停地用刀刺她,還不停地喊到:“我要錢!我要錢!”。她當下只怕對方會強暴或傷害她,所以一直重複說:“你要甚麼都拿去!不要傷害我!”。
沒多久,她就成功掙脫,奔向屋子的大門。當時鄰家的婦女正好看到了她,她還以為救星到了,就大喊“救我”。
“可是,她沒救我,還趕緊把家門鎖上。那時候我已經是滿身血,我真的很心寒。就在這時候,我束著馬尾的長髮被那名假租客一把捉住,他就這樣硬把我整個人拖回房間去。我又哭又喊,根本沒人理我。”
慶幸的是,接到她之前撥出的最後一通救助電話的朋友,及時帶著工人跑到現場。那名假租客一聽到門外有腳步聲,馬上放下她,從另一個方向逃了出去。
“我永遠都記得這個畫面,那男子邊跑邊脫下染血的外套,還有帽子。”
她說,一看到朋友,她整個人馬上放鬆軟了下來,接著就昏了過去。“還好他只是劫財,之後很多傳言都說我差點被強暴,這都不是事實。”
劫匪未落網
陰影未除
黃雪芬指出,警方至今都還沒捉到人,但劫匪帶給她的傷害,卻是一輩子的。“7年了,到今天只要有人站在我後面,我就會很恐懼,很慌張。”她依舊擺脫不了這可怕的陰影。事發後,黃雪芬也曾經離開地產界,去了幼兒園當老師。“每天看到孩子們天真的笑容,我的心情才漸漸平伏下來。數個月後,我決定重返地產界。”
黃雪芬說,她來自一個貧苦的家庭,最苦的時候,曾經試過一家五口擠在一房內。她是長女,下有一弟一妹,她最大的心願就是改善她和家人的生活,所以最後堅持重返地產界。
“家人都強烈反對,但我覺得在哪裡跌倒就要在哪裡站起來。現在弟弟也當了地產經紀,很多時候帶人看屋,弟弟都會陪我一起去。”
“地產經紀只要肯拼肯吃苦,的確可以賺到錢。這也是我不肯放棄這工作的原因。”
她說,因為她的堅持,目前她和家人的生活都已有改善。“我最終的目標是買一間排屋給我媽媽住,但現在距離目標還有一段距離。”
遇精神病女子被嚇哭
除了遇劫,黃雪芬也遇過一個疑患有精神病的女子,還有行為怪僻的客人。巧合的是,第一次見到這名女子,她同樣有種不好的感覺,就像初次見到傷害她的假租戶一樣。
“當時有人要看這名女子的房子,我就向她拿鑰匙。
她在電話裡很正常,可是見面時,我就感覺不太好,交談後也發現她真的不妥。”
“我向她要鑰匙,她就不客氣地說‘不可以給你鑰匙’。我只好提議向她借鑰匙複製一把,等客人看了房子就馬上還她。因為赶時間,我便載著她一起去。”
其實,當時,黃雪芬就發現她不停地在罵周圍的人粗話。“等我開車送她回家時,她忽然大喊起來,然後大力地捉住我的駕駛盤,還大聲罵我粗話。我被嚇到了,馬上打開我旁邊的窗,然後要她下車。”
她說,對方一下車,她就踩油門飛奔而去。“我找一個地方停下來,就打電話給媽媽,還沒開口,就哭了起來。”
長得美惹客人太太不悅
很多人都說如果經紀人長得美,生意也會比較好,但黃雪芬說,“不見得,客戶不會因為你長得美,而跟你買房子,房子的數目可不同於保險或者其他,而往往也因為她長得美,惹來客人太太的不悅,吃力不討好。”
此外,她也遇過很怪的客人。“那個買主每看一間屋子,一定要先移動人家屋子的桌子,而且會每塊磚塊去敲,不然就是在看人家的貨倉時,一定會提個手電筒仔細觀看。”
她說,如果屋主也在場的話,客人這種舉動或許會激怒屋主,非常不尊重人家。“還有一些顧客,給你傭金時百般為難你,然後才不甘不願地付。”
自我防範找人陪看屋
女地產經紀帶客戶看屋被謀殺案,再次敲起女地產經紀職業的警鐘。多名女經紀皆認為,地產經紀是高風險行業,經紀本身除了要嚴守行內的8大基本安全守則外,如勿與客戶約在晚上看屋,看屋時要有人陪,提早到場視察環境等,更重要的是,在與客戶通電話時就要提高自我防範的意識。
受訪的女經紀指出,入職前,地產經紀公司一般會向職員灌輸基本安全守則。
“雖然公司擁有一套安全守則,可是面對林林總總的客戶時,安全守則也只是一個參考,更人的防範意識更重要。經紀必須憑著過往的經驗,加上臨場應變反應,才能在危機中自救。”
她們認為,所謂的個人經驗是指,先從客戶的電話談話內容及語氣,過濾客戶看屋的目的,包括事先瞭解客戶是否單身赴約,或是與親友一同到來。
儘量選在白天見客戶
“如果對方選在晚上看屋,又表明會單獨赴會,我們一般會要求對方把看屋時段改在白天。如果客戶堅持不換時間,我們就會要求親友陪伴,以確保自身安全。”
她們說,如今治安不靖,很多男同事都會撇開傭金競爭的觀念,陪伴女同事出外會見客戶。
34歲經紀蘇琳琳受訪時指出,除了市場競爭大,女經紀的安全問題也是各造必須關注的課題。
她說,為了自身安全,每次出外工作,她都盡可能攜帶雨傘作為自我防衛的工具,無論晴天或雨天,雨傘都會有用,客戶也不會感到奇怪。
“行內的女經紀都有默契,如果遇到屋主不在場,我們都會要求家人或同事陪伴,預防萬一。”
“有一次有一名客戶約我在白天見面,但卻穿著睡衣來。那時候我就站在門外,幸好他很快就答應要購買有關單位,讓我鬆了一口氣。”
提防急要看屋客戶
從事地產業已有7年的女經紀張詠薏說,早前她就試過一次與4個友族同胞單獨看屋,由於當時人已到現場,她只好硬著頭皮進去,雖然事後沒有發生不愉快事件,但卻令她印象深刻。
“對方事先沒有說要帶朋友來,加上屋主又不在場,為了安全起見,我並沒有跟著進屋。等了5分鐘,我發現他們都很認真看屋,我才放下戒心,入屋向他們解釋屋子的情況。”
她指出,經過這次,每次與客戶接洽時,她都會事先詢問看屋的人數,如果對方是隻身一人,她就會找親友相陪。
張詠薏週四接受《光明日報》訪問時指出,女經紀與客戶在電話溝通時必須提高警惕,如果對方表示對任何房屋都有興趣,或是過份著急要看屋,經紀就要小心了。
“有問題的顧客,一般會比經紀更著急,反應也更踴躍,無論經紀提出任何價格或地點的房屋,他都說沒問題,甚至要求趕快看屋。”
提早抵達視察環境
地產女經紀朱曉麗(24歲)說,根據她的經驗,與客戶碰面看屋前,她都會提前抵達目的地視察周遭環境。無論看屋時屋主有沒有在場,她都會打開單位大門,包括確保單位內的亮度。
“比客戶早到,是為了掌握現場環境的情況,以便危難時可以作出最快的判斷。”
朱曉麗也建議其他女經紀在陪客戶看屋時,手機最好緊握在手,並把親友的聯絡號碼設定為快鍵模式,一旦發生緊急事故也可以第一時間尋求援助。
地產從業員自保9招
1. 隨身攜帶充滿電的手機。
2. 保護個人資料,避免用家居電話。
3. 不要廣泛宣傳物業乃“空置”單位。
4. 自己駕車。
5. 參觀單位時,讓客人走在前面,自己跟在後面。
6. 先約新客戶在公司會面,讓公司知道你與誰會面。
7. 多問客人的資料,越多越好。
8. 對售賣的單位多作資料準備。
9. 相信本能反應,安全至上。
(光明日報‧獨家報導:林春蓮)

The case of over-gearing in properties and increased liabilities


ONE of the most prominent businessmen in the 20th century was a man called Joseph P. Kennedy (President John F. Kennedy's father). In the 1920s, Joe Kennedy invested in stocks and later claimed that he knew it was time to get out of the stock market when he received stock tips from a shoe-shine boy. The rampant stock speculation of the time eventually led to the 1929 stock market crash and, subsequently, the Great Depression.
I am reminded of this story when I see that, today, people seem to be investing their savings in many properties at once. Those without savings opt to take out bank loans to finance such investments. Just yesterday, the tea-lady told me about a “hot new property” to invest in. While this alarms me, I'm not saying that as a serious investor you shouldn't invest in properties. To the contrary; it is still possible to invest in properties and not harm your financial portfolio.
Just over 10 years ago, people who invested in properties tended to be more cautious. They were people who had saved up money and needed to invest that money somewhere “safe”. Many of them bought properties expecting to generate a healthy stream of rental income and were unlikely to sell it immediately. This was probably because there was no real financial incentive to do so. For one, with the real property gains tax (RPGT), whatever properties purchased and sold were subject to a high tax of 30%.
Over time, though, this rate of 30% has been reduced. Under Budget 2012, the Government proposed that the RPGT will be revised where properties held and disposed of within two years are subject to RPGT of 10%. Properties held and disposed of between two and five years are subject to RPGT of 5%, while those which were held and disposed of after five years are not subject to RPGT at all. As a result, many people today buy properties with little intention of using them to yield a rental income. In fact, rental yield has generally decreased from 7% just over 10 years ago to approximately 4% now.
People tend to be more interested in “capital appreciation” of a property. This means that buyers tend to look for properties that are in the process of being developed or near completion. They take out loans to buy these properties and, the moment the development is complete, the property is sold at a profit. They hold a strong belief that one can never go wrong investing in property and live by the maxim, “the only way to go when investing in properties is up.”
The dangers of undertaking such an investment venture were highlighted by the actions of a successful business owner I once knew. In his early 60s, with his spare cash, he invested in over 15 properties in the short space of two years. He spent very little money doing this as he had, on average, taken out loans of 85% per property. 12 of them were concentrated in some of the most exclusive enclaves of the city. Of these, some properties were still being developed and others were rented out to expatriates.
When I came to know of what he was doing, it rang warning bells for me as over investing in properties can lead to financial ruin. I advised him to diversify his portfolio into other assets like equity, bonds and cash. I also advised him to keep some of his wealth in liquid investments to limit the risk he was under. He slowed down buying properties and invested in bond funds. However, he remained adamant that what he was doing was right and believed that he would make a healthy profit when the developments were complete.
Unfortunately, he passed away suddenly and the family was left to deal with the deceased's debts. When the tenancy agreements ended, the expatriate tenants didn't renew their agreements. Instead, they opted to rent other newer properties with better facilities. With no rental income, coupled with the market slowing down, the deceased's family was forced to sell these properties at a price that was much lower than what the deceased initially paid. In addition, the deceased's family could not service the loans for the properties that were not yet completed. Naturally, the banks foreclosed on these properties. Although the family did, eventually, settle all the deceased's debts, it was not before considerable money was spent.
All said and done, this doesn't mean that you shouldn't invest in properties. In fact, more than ever now, investing in properties is a viable option if you are a serious investor. However, it is imperative that you do so cautiously. For one, never “over-invest” in properties. Always make sure your investment portfolio consists of various investment assets.
Even if you choose to invest mainly in properties, never choose properties located in one geographical area. You could end up concentrating your risk in an area that might go “out of favour” or become less popular (as the case seems to be in certain parts of the Klang Valley). Sometimes, there is an over-supply of properties in one particular area. If these happen, you might find that you've gone from being in a “seller's market” to a “buyer's market” or a “tenant's market”. In other words, instead of enjoying the benefits of getting a healthy rental for your property, you will end up accepting whatever rental your tenant might pay you. Therefore, to minimise your risk, always pick properties in different areas.
Although banks have begun to tighten up the lending criteria, bear in mind that over gearing (taking out a maximum loan from the banks for property investment) is not advisable. Therefore, minimise your interest payments and reduce your exposure to liabilities by taking out a reasonable amount of loan.
Ultimately, there is no doubt that you must invest in properties. However, do so in a prudent manner to ensure that it is a financially rewarding exercise for you with minimum risk and damage to your long-term investment goals. - The Star
Yap Ming Hui (yapmh@whitman.com.my) is an independent financial advisor and author of 5 best-selling books on personal finance. He is the managing director of Whitman Independent Advisors, an independent financial advisory firm licensed by Securities Commission and Bank Negara Malaysia.

Applying the brakes – made for the short term – can be dangerous


DOES the anti-lock braking system (ABS) really make driving safer? I thought so until I came across an interesting finding recently.
In his book What the Dog Saw, Malcolm Gladwell shared the result of a famous experiment conducted years ago in Germany. The experiment equipped part of a fleet of taxis in Munich with ABS. The rest of the fleet was left alone, and the two groups of drivers were placed under secret observation for three years.
Most people would expect that with the installation of the ABS in a vehicle, driving would be safer. The outcome of the experiment proved otherwise. For some drivers, ABS did not reduce their accident rates. It turned them into inferior drivers instead. They drove faster, made sharper turns, showed poorer discipline and braked harder.
The author explained this phenomenon with the theory of Risk Homeostasis which states that under certain circumstances, changes that appear to make a system or an organisation safer in fact do not. Human beings have the fundamental tendency to compensate lower risks in one area by taking greater risks in another. In that particular experiment, the drivers used the additional safety elements to drive faster and more recklessly.
Contradictions
To a large extent, this theory can be applied to many aspects of our life. While one can take the additional precautionary methods, the fundamental problems should also be addressed to achieve the desired results.
Recently there has been a proposal to raise the floor price of properties for foreigners from RM500,000 to RM1mil to curb or control the prices of houses from increasing too fast. This proposal is on top of the other “cooling off” measures such as the 70% housing loan policy for purchase of a third property, the increase of real property gains tax from 5% to 10% imposed on properties sold within two years of the sale and purchase agreement, and the new ruling on housing loan limits based on net income rather than gross.
There is no doubt that the introduced “cooling off” measures have reduced the buying spree of properties. However, the intended objective of these measures to control the price of properties has yet to be seen. Introducing measures without critically identifying the root cause of the increasing property prices may instead create situations that would not be beneficial to the industry as explained by the theory of Risk Homeostasis.
So, what determines rising prices?
We need to find the root cause of the issue in order to identify a long term solution. The basis for rising property prices now is largely due to the direct and indirect impacts of quantitative easing programmes i.e. the increase of money supply, carried out by governments around the world since the start of the global financial crisis. Value slump
When there is too much money chasing too few goods, prices will increase but not necessarily value. In reality, we are facing a situation where there is too much money in the system, causing a decrease in the real value of money and pushing up prices of goods and services including construction materials.
For example, in early to mid 2000, a condominium in Mont'Kiara which was sold around RM500,000 would now cost us about RM800,000, equal to a 60% increase. But measured in a different “currency”, that condominium would have cost us 8kg to 10kg of gold in early to mid 2000 and today, only worth about 5kg of gold. This is a sharp decline of 38% to 50% and is an illustration of how prices are going up due to the drop of currency value because of worldwide inflation and pump-priming policies.
However, if the property prices are not allowed to rise, it is not possible for developers to build below costs when the construction costs are constantly rising. This will cause a shortage of supply which will further push up prices in five to 10 years time.
Balancing act
Let us examine specifically the future supply and demand of properties in the Klang Valley.
On the demand side, the government aims to grow the population in Greater KL from the existing six million to 10 million by year 2020. Hence, an additional one million housing units (assuming four family members per home) is needed in the next eight years. It would mean that property developers need to supply 125,000 new housing units in Greater KL every year to meet the expected increase in population.
According to the statistics published by National Property Information Centre, the primary market only managed to launch 49,290 new housing units nationwide in 2011, with only 12,705 housing units in KL and Selangor. This indicates there is a demand exceeding supply scenario that can result in future severe consequences.
If the government continues to introduce more “cooling off” measures to curb or control house prices and to stifle temporarily the buying appetite of home buyers, it will slow down the rate of production of new houses by developers. The unintended consequences of stifling supply will create a massive housing bubble five to ten years later in Greater KL because of the extreme demand and supply imbalance.
The ABS experiment mentioned at the beginning taught us a valuable lesson. Understanding any long-term-unintended consequence is paramount before taking any actions. Putting measures in place that do not resolve the root cause may instead backfire on us. With that in mind, perhaps we shouldn't apply the brakes on housing need and instead look at the bigger picture to find longer-term solutions to our housing industry. - The Star
FIABCI Asia Pacific chairman, Datuk Alan Tong has over 50 years of experience in property development. He was FIABCI World president 2005/06 and was named FIABCI Property Man of the Year 2010. He is also the group chairman of Bukit Kiara Properties.

Security at what cost?


WHAT does it take to build a city a simple, functional spot under the sun that draws people in and provides enough for them to build a home, find work and enjoy all that is within their resources to enjoy?
Let's forget about phrases like “world class city” or “state-of-the-art city”. These are just empty phrases that do not mean anything. There are many components that go towards building a city security, clean air and water, healthcare, education, a city employment opportunities, public transport and other services. The list can be a lenghthy one.
But let's just focus on security, which is likened to a roof over our heads. The roof keeps out the rain and other elements. There is no point in having a leaky roof.
Of late, we read constantly about crime being reduced. But while there are statistics that point to this, we feel no safer than before.
Last Thursday, the country rejoiced when 12-year-old Nayati Moodliar was reunited with his parents after going missing for a week. Many missing children either end up dead, or continue to be separated from their loved ones.
His abduction prompted the introduction of new measures like putting up closed-circuit television surveillance cameras (CCTVs) around school premises. Mont'Kiara, which comprises predominantly high density condominium products, is known for its layers of security features. That is one of the reasons why many live there, forgoing a landed property with a compound.
In high-rise residential projects, there are access cards programmed to allow entry to the floor one is staying in and to public areas like the swimming pool and gym. We also have gated and guarded communities. Some of the newer townships in Petaling Jaya employ their own security guards with the permission of the local authorities and put up bars and other security features like rows of drums to seal off escape routes in the event of a break-in. Other residential areas do not strictly go by the gated and guarded definition but have security guards and perimeter fencing.
In our search for peace and safety to build and raise a family, we have put a premium on security, either by installing alarms or living in places that comes with such features. There is nothing wrong with this.
But has anyone asked why we have come to this? And to what extend can these measures ensure that our children and loved ones will be secured and safe? While it may be relatively safe within the gated and guarded community and internal break-ins may, or may not, be an issue it is what happens on the streets that is of concern today.
Once a person is outside these “safe” perimeters, he or she is at the mercy of unsavoury and unwanted attention, which may be in the form of snatch theives, robbers, kidnappers or other tricksters, as in the case of Nayati, who was kidnapped while walking to school. Does this mean we install these features in public areas and how far should we go in pursuit of these measures?
While installing CCTVs in public areas like schools, malls and basement car parks and shops may help, there is the cost of keeping them in serviceable condition. But even if the images of tricksters and kidnappers' get-away cars are caught on camera, is there a system where this images and information can be relayed in minutes or seconds to police patrols who will then take it from there? In other words, patrol cars equipped with audio visual gadgets. It sounds so Hollywood. But we've seen enough of police car chases on TV.
This goes back to the systems we have. If cars can come with TVs and police patrol cars with walkie-talkies, why can't these gadgets and their functions be integrated in order to relay images to speed up the pursuit of criminals on-the-run?
But we have to admit that installing security gadgets that integrate seamlessly with policing comes with a cost. Another simple and cost effective way would be police presence.
Yes, there is a need for the men in blue to ride around on motorcycles, some to be in police patrol cars. But we also need those who will patrol on foot on a sustainable intermittent basis, not just because a high-profiled crime has been committed. This will give a sense of security to the people and at the same time serves as a deterrent, to a certain degree, to street crime.
There is something very wrong when the people spend so much money on being safe when they are at home, yet remain vulnerable to all sorts of crime when they hit the streets. We need police presence, and we also need to weed out corruption at all levels of the Government. We need a roof over our heads, but not a leaky one. - The Star
Deputy news editor Thean Lee Cheng thinks the building blocks that go towards making a city liveable is more than gleaming towers.

Thursday, May 10, 2012

Rising value of properties a real concern


KUALA LUMPUR: The Government needs to address the issue of affordability of residential properties as persistently high prices have become an issue to many people.
“We have computed the affordability (issue). Prices have risen to a level that has created some concern. In fact the International Monetary Fund (IMF) in its Article 4 consultation report has mentioned that this is the main risk or vulnerability facing the Malaysian economy: overvalued house prices,” Ratings Agency Malaysia Holdings Bhd (RAM) chief economist Dr Yeah Kim Leng said.
“It is not a bubble yet largely because for certain segments the income level is sufficient to absorb those kind of (high priced) houses. But there comes a point where you will find declining demand largely because of rising vacancies or declining rental yields that will help to cap property prices,” Yeah told journalists at a press briefing yesterday after RAM's annual general meeting.
Yeah expected an eventual soft landing for the property market in Malaysia but also said that developers should be ready for any change in market dynamics.
“Developers must take the risk that should there be a slowdown or market crash (that) they are in a position to absorb it without creating problems for the banking sector or economy. But at this juncture we are quite comfortable that most developers are going in (to the market) with their eyes fully open,” Yeah said.
“Most of the property companies that we have rated (credit rating) are fairly strong in their credit quality. Overall we are looking at maybe certain smaller developers that will be at risk but by and large I think that the property market is in a sustainable basis. But watch out for too high prices that will create affordability problems,” he added.
Meanwhile, RAM's CEO Foo Su Yin said the agency expected corporate bond issuances for the whole of Malaysia will total between RM80bil and RM85bil this year from about RM70bil in 2011 noting that issuances had accelerated in the first four months in 2012 compared to the previous year.
“The issuance in the first four months of RM44bil has already exceeded what was (at the level) half year last year so the RM80bil-RM85bil is achievable this year. We expect most of the bond issuances to come from the infrastructure and the banking sector,” Foo said.
On another matter, Yeah said that the Malaysian economy should be fairly protected against any economic shocks that comes out of Europe due to the ongoing economic crisis there and that the first quarter economic growth may even beat analysts expectations.
“Domestic demand has been fairly robust and with slightly firmer exports we should be doing fairly well. Nevertheless the risks still remain substantial because of the, so-called, regime changes that had happened in Europe that put the whole Euro at risk. Malaysia has so far been able to ride through the soft patch in the global economy,” he said.
Meanwhile, on the issue of the growing government debt or also known as deficits of presently about 56% of GDP, Yeah said this figure may hover at about 56%-57% by the end of this year and said debt should ideally be used to finance productive investments to ensure future economic growth.
He also said the risks from the non-bank lending sector also known as the shadow banking system could be limited as its portfolio was relatively small compared to total bank loans portfolio and may not pose a systemic risk to the economy at this point in time.
“We may have however, isolated problems arising but it should not pose a systemic risk to the economy or banking sector,” he added.

Tuesday, May 1, 2012

全球最火热地产市场 中国第1大马第9


伦敦1日综合电)全球最大的英国私人房地产顾问公司莱坊,统计由2006年第4季至2011年第4季的房地产升幅,列出全球10大地产市道最火热的10个国家和地区,发现房价增长者集中在亚洲,中国以110.9%涨幅高居第1,香港以93.7%次之,新加坡50.5%排第4,台湾30.1%排第6,及马来西亚28.5%位列第9。
这项调查,莱坊是根据上榜国家多个主要城市的情况,反映楼市越升越有的趋势,但中国的数据则只统计北京和上海这两个一线城市。上榜国家还包括以色列54.5%排第3,哥伦比亚39.4%排第5,加拿大和挪威皆以28.7%排第7,而瑞士则以27.5%排第10。
报道指出,海外投资者令马来西亚楼市在5年内上升28.5%,单是去年第3季就录得按年6.6%的增长,首都吉隆坡楼市去年尺价可达500美元(约1510令吉)。为了压抑楼市,政府正考虑推出针对海外买家的政策,包括将最低入场费增加一倍至32.6万美元(约100万令吉)。- 光华

Long term view when investing in uncertain times


KUALA LUMPUR (April 28, 2012): “Investment gurus all say that in uncertain times, invest for the long term,” Zerin Properties CEO Previndran Singhe said at The Edge Investment Forum on Real Estate 2012 on Saturday, April 28 at Sime Darby Convention Centre in Kuala Lumpur.
Presenting his talk on the Malaysian property market overview and outlook at the forum themed Investing in uncertain times, Previn foresees moderate growth in the property market in the coming months. “For our outlook for next year, there may be a 15-20% drop in transactions but property prices will hold. We do anticipate a small mini boom in 2013.”
“Where to put your money? The key for investments for the next few years would be long term. I do not think there will be short term play," he said.
“Long term investments, would be between 3-5 years average post completion. Properties below RM1.5 million will be hot picks. Look at locations such as Nusajaya and Iskandar in Johor and Penang. In the Klang Valley, stick to the usual hot spots, but I am also very bullish about properties in Kajang, Jalan Ipoh and Selayang.
Landed properties seem to be the flavour of the day but he does not discount commercial and industrial properties.
In 2011, volume of transacted properties recorded an increase of about 14.26% more than 2010, with an emphasis on residential properties. “We saw a lot of activities in urban areas – not necessarily within the city centres but around it. Generally, all sectors did well, but on the ground, we saw a phenomenal pick up for residential landed properties priced below RM2 million in the suburbs of Kuala Lumpur, Penang and Johor Baru,” he said.
Penang and Johor experienced the highest growth in property prices while Klang Valley saw a marginally lower growth, as its base price is already high.
“Sabah, Sarawak and Melaka also showed growth. Kota Kinabalu is a very vibrant market and still under-served in terms of product offerings while there is also demand from in-migration in Penang,” he explained.
Average price of agriculture properties in 2011 saw a growth of 56%, which is in line with the commodity growth globally, followed by 10% growth in industrial, which reflects the foreign direct investment for Malaysia, and 5.5% for commercial. Overall, residential properties saw an average price growth of 2.6%.
For longer term real estate investments, Previn picked four locations to look at – Melaka, Penang, Kota Kinabalu and Johor Baru. These locations, he said, hold a lot of promise in term of real estate potential.
Commenting on Bank Negara’s move to tighten measures to curb speculative buying and household debt, he said, “I agree with the approach but it would be done in a more gradual manner. We should encourage investment but punish upon exit, even up to 50% or 70% via real property gains tax, for example.”
The forum entitled is held annually for readers of The Edge Malaysia. The presenting sponsor is Malaysia Building Society Bhd while the supporting sponsor was Sunway Property.
For full coverage of The Edge Investment Forum on Real Estate 2012, read the May 7 issue of City & Country, the property pullout of The Edge weekly.
 

More investment opportunities surrounding major infrastructure projects


KUALA LUMPUR (April 28, 2012): The new major infrastructure projects in Penang, Greater Kuala Lumpur and Iskandar Malaysia, Johor, has presented several investment hotspots for prospective real estate investors, said renowned cartographer Ho Chin Soon.
These infrastructure projects include new highways  in Penang and Iskandar Malaysia, Johor, as well as the mass rapid transit (MRT) project coming up in Greater Kuala Lumpur, the founder and director of Ho Chin Soon Research Sdn Bhd said at The Edge Investment Forum on Real Estate 2012 themedThe Edge Investment Forum on Real Estate this year was themed “Investing in uncertain times”.
In Greater Kuala Lumpur, he pointed out that the MRT green line will go through Pasar Rakyat station in the Imbi area, which is an interchange that is also part of the Kajang-Sungai Buloh line.
“The green line comes from Bandar Baru Selayang, punching through Kampung Baru, then it goes to the interchange here to the Pandan area and then it goes to Putrajaya’s electric rail line station,” he said.
He added that the MRT circle line will go through Sentul, the KL Metropolis project along Jalan Duta, Mont’Kiara, the vicinity of Bukit Kiara Equestrian and Country Resort, Universiti Malaya, Mid Valley City, the Bandar Malaysia township at the old Sungei Besi airport, before connecting with the existing LRT lines to Ampang Point before returning to Sentul.
Ho also pointed out four new highways coming up within Greater KL, namely the Damansara-Shah Alam Highway (Dash), the Kinrara-Damansara Expressway (Kidex), the Serdang-Kinrara-Putrajaya Expressway (Skip), and the Sungei Besi-Ulu Klang Expressway (Suke). Properties in areas served by these new highways would benefit from the better accessibility and connectivity.
In Johor, he named Nusajaya, Danga Bay and their respective vicinities as new hot spots thanks to the new Coastal Highway.
Meanwhile, the newly-opened Eastern Dispersal Link which helps to alleviate congestion is also good news for the eastern corridor’s hospitality projects. In addition, he predicted better prospects for Desaru’s tourism projects due to the Senai-Desaru Expressway due to enhanced connectivity.
Meanwhile for Penang, he said, “In Penang, focus on the island. Maybe, you’d want to look at Seberang Perai and Batu Kawan’s affordable housing.  My dream is to one day go back to Penang, own a beachfront property [because it is growing scarcer] somewhere in Teluk Bahang, Batu Ferringhi.”
The forum was held at Sime Darby Convention Centre and saw 600 attendees turning up to gain insights into the real-estate market. The presenting sponsor was Malaysia Building Society Bhd while the supporting sponsor Sunway Property.
For the full coverage on the forum, read the May 7 issue of City & Country, the property pullout of The Edge Malaysia.

Make purchases based on fundamentals


KUALA LUMPUR (April 28,2012): Now is a good time as any to make selective purchases in the landed homes market, said CB Richard Ellis executive chairman, Christopher Boyd.
Boyd was sharing his views in a panel discussion etitled "Buy now or wait?” at The Edge Investment Forum on Real Estate 2012 themed “Investing in uncertain times”. Landed homes is ideal for investment as the Malaysian economy has experienced good growth, he said.
"If you look at the property market in a more level headed view, landed home prices in the Klang Valley have generally doubled in value within the last 10 years or so," he said. "We have good economic growth as well as the commitment of the federal government to increase the nation's household income."
He cited a typical 2-storey link house in Bandar Utama where between 2004 to 2011, the price has  appreciated over 80% or 10% per annum. Growth over the past three years between 2008 to 2011 has been 63% while growth over the preceding three years  between 2005 to 2008 was 11%. The average annual growth between 2004 to 2008 was just 2.8%.
Boyd explained that there is a way to spot areas that have the potential to experience a growth in its property prices.
"If you can find an area that has not seen an average of 10% per annum growth for the last 10 years, then the indications are that the neighbourhood is ready for a growth spurt and you might try to jump in and catch it."
Boyd also named Gombak and other areas between Melawati and Setapak as choice areas for investment. Data showed that 2-storey terraced home prices in Melawati shot up during 2011, after recording limited price growth during 2004 to 2011. The average annual growth between 2004 to 2010 was 2.9% while growth in 2011 jumped to 39%. The total growth of 2-storey terraced houses in the area over a ten year period between 2001 to 2011 is 66%.
"The growth in Melawati last year could partly be the result of the opening of the DUKE Highway," he said.
Another panelist Datuk Ahmad Zaini Othman, chief executive officer of Malaysia Building Society Bhd (MBSB) said property investors should no longer buy or sell based on perceptions but on the fundamentals in uncertain times,
“Buying and selling on fundamentals means you must observe not only our  economy but also in other parts of the world like Europe, the US and China, and study the trends such as unemployment and production. We are no longer living in a fishbowl economy,” said Ahmad Zaini.
The uncertain global economy and Bank Negara’s guidelines on responsible financing, which dictates banks to assess loan applications based on net disposable  income, can affect the country’s economy in the long-term.
The immediate impact, said Ahmad Zaini, is creating a cautious market where investors may take a wait-and-see approach, which will dampen the market. This in turn will cause developers to be very selective with new launches and projects.
“But the more serious issue is the possible ripple effect. In the long-term, it can affect supporting companies in the property sector and eventually the economy. The property sector is an important sector in the growth of the country’s economy. We have to monitor the ripple effect very closely,” said Ahmad Zaini.
However, he believed the guidelines on responsible financing will also help greatly in the long run by reducing speculation in the market and controlling household debts.
Ahmad Zaini noted that right time for investors to buy is when the market stabilises after the initial market reaction. He advised buyers to buy from established and financially sound developers to avoid being left in a lurch by developers.
“In this environment, only the strong developers will survive. You have to be careful as project failures  can happen,” said Ahmad Zaini.
“If you are buying to invest, you really need to study and know the market. If you’re buying for own use, anytime is a good time,” commented Ahmad Zaini.
Meanwhile, the third panelist Sunway Group COO property development division Daniel Lim said property prices will continue to increase due to lack of availability of land in prime locations, a steady increase in land prices in the recent years and high prices of building materials.
He also cited rising cost of labour, cross-subsidy for low/medium cost housing and strong demand due to the young population as reasons for rising property prices.
In times of uncertainty, he advised investors  to “buy from reliable developers with good record and strong financial standings. Buy properties in growth areas, which are well connected, suburban areas with expressways or public amenities such as light rail transit (LRT) /mass rapid transit (MRT) /bus rapid transit (BRT). Areas such as Puchong South, Cyberjaya, Putrajaya and Seri Kembangan have potential too.
“Look at urban redevelopment areas in the Klang Valley such as the Rubber Research Institute (RRIM) land in Sungai Buloh, former military airport in Sungai Besi, the Kuala Lumpur International Financial District (KLFID) in Jalan Tun Razak, former Pudu jail, as well as Jalan Cochrane and Jalan Peel,” he explained.
Lim does not see a property bubble in the property market. “The property supply is quite constant, about 500,000 units every year, and there is a gap based on demand by the growing population. The next few years, we expect to continue seeing demand exceeding supply of properties so there is no use asking if there’s a bubble or not,” he added.
For the full coverage of the forum, read the May 7, 2012 issue of City & Country, the property pullout of The Edge Malaysia.

UK properties entice Malaysian companies

KUALA LUMPUR (April 30): The low interest rate, weakening pound and near rock bottom prices have wooed property buyers to the UK, including Malaysian developers and asset managers.

Last week, Eastern & Oriental Bhd (E&O) announced the acquisition of an office and retail development in London for RM100.9 million. The property developer wants to establish an office there, as a base to explore business opportunities in the UK.

Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF) have already spent billions buying commercial properties in the UK over the past few years. Other companies such as TA Global Bhd and S P Setia Bhd have shown interest in UK properties.

S P Setia said it would continue to seek ways to "invest, via strategic partnerships and landbanking, in this exciting market" after its failed bid to win a £5.5 billion (RM27.3 billion) project in London.

The British real estate sector has been a target for many international investors, capitalising on its status as a safe haven built on sound risk-adjusted returns and ample liquidity even in times of economic difficulty, said real estate research and consulting firm Cushman & Wakefield.

"With continued ultra-low interest rates, further geo-political unrest and a relatively weak sterling, there is no reason to believe that there will be any let-up in interest from international investors in the central London market," said the consulting firm's head of central London Investment, Clive Bull, earlier this year in a report.

The UK registered a GDP contraction of 0.2% in the first quarter this year after a decline of 0.3% in 4Q11, putting it in a technical recession. The last time that the country had experienced two consecutive quarters of contraction in GDP was in 2009, when the economy fell 4.4%. However, most economists perceive the UK economy as stronger than its European peers.

Despite the economic slowdown, Cushman & Wakefield said property prices in the UK have began to rebound in the past two years, mainly in the office space segment. The firm said London offices earned an average rent of US$163.80 (RM497.95 per sq  ft (psf), the highest rate among 38 key European cities.

Moreover, London's office rentals grew faster in 1Q12 at an annual rate of 5.1% compared with Europe's 1.3%. However, data from real estate analyst Investment Property Databank (IPD) said yields from UK properties fell to 7.3% in March from 12.1% in the previous year. IPD said offices lead with a yield of 8.6%, while the retail and industrial real estate sector registered 6.2% and 7.1%.

The base rate has remained at 0.5% since 2009, and the pound has remained below RM5 since November last year.

"Throughout much of 2011, investment demand at the prime end has been driven by overseas investors and selected UK institutions who have targeted well-let assets in good locations, with long income streams and good covenants," said Cushman & Wakefield. The firm expects the trend to continue this year.

The EPF spent £693.5 million to acquire five properties in the UK, through its special purpose vehicle Kwasa Global (Jersey) Ptd Ltd. The fund presently owns seven properties in the UK. Properties only made up 0.39% or RM1.82 billion of its total assets last year. However, the figure could rise as the EPF recently received a mandate to increase its overseas investments to 23% from the 13.4% last year.

"We have undertaken these acquisitions at a time when property rates overseas have been on the decline. These investments have also presented us with the opportunity to diversify into new and potentially lucrative assets that offer good returns over the long term with strong tenant covenants," said the EPF in its latest annual report.

PNB has spent some RM4.9 billion in the past two years acquiring overseas properties. This includes three offices in London. The fund may shift its investment focus towards the real estate sector moving forward, based on a recent statement by president and chief executive Tan Sri Hamad Kama Piah Che Othman.

"In the past, our focus has definitely been on equity investments but now we are venturing into the real estate sector as it is expected to provide stable returns," he was quoted as saying earlier this month.

The pilgrim fund Tabung Haji, has allocated between £150 million and £200 million to purchase at least one commercial property in the UK this year.

Director and chief executive Tan Sri Abi Musa Asaari Mohamed Nor said earlier this month that the UK had been on its radar for a long time. He added that expanding the fund's scope to include properties in London would provide it an opportunity to earn favourable returns on a fixed income basis. - The Edge Property

Sunday, April 29, 2012

Initiatives to assist victims of abandoned housing projects

KUALA LUMPUR (April 24): Housing and Local Government Minister Datuk Chor Chee Heung said the ministry has taken several initiatives to assist victims of abandoned housing projects.

He said the initiatives included providing a verification letter to funding institutions that the projects have been abandoned and assist buyers to discuss how their loans could be resumed after rehabilitation works started.

Such loans would be subjected to the funding institution's valuation and based on the merits of each case but if the buyer is not assisted, a complaint can be lodged with the ministry which would be referred to Bank Negara Malaysia (BNM), he explained.

He was responding to a question from Datuk Mustafa Kamal Mohd Yusoff on the issue of abandoned housing projects.

Chor said the ministry has also proposed for a working paper to be presented to the National Economic Council in order for BNM to recommend ways to assist the victims of such projects if the funding institutions fail to give them due consideration.

"The government takes the matter seriously as the victims could go bankrupt if the situation is not resolved," he said at the Dewan Rakyat, here on Tuesday.

Chor further remarked that the government would also take steps to prevent housing projects from being abandoned by amending the Housing Development Act (Control and Licensing) 1966 (Act 118).

He added that the government and related parties in the industry were discussing holistic ways to best implement the build and sell system.

"We hope the system can be finalised with all affected parties by 2015," he said. — Bernama

Zeti: No intention to review new guidelines on responsible lending now


KUALA LUMPUR (April 25): Bank Negara Malaysia (BNM) has no intention to review its new guidelines on responsible lending for the time being, Governor Tan Sri Dr Zeti Akhtar Aziz said on Tuesday.

"Whatever needs to be resolved will be through bilateral discussion. Right now we have no intention," she said when commenting on reports that the guidelines would be reviewed.

BNM's recent lending guidelines, effective Jan 1, stipulates that loans would only be approved based on net income and not gross income as previously practiced.

The new guidelines was aimed at managing household debt in Malaysia at reasonable levels.

Many parties in the automotive industry were not happy with the guidelines and attributed the drop in vehicle sales to the implementation of the guidelines.

Zeti said it would not be right for some automotive players to blame the guidelines for the dip in vehicle sales.

"I don't think that would be correct... because our guidelines are to ensure that the borrowers are in a position to take on increased debt and this is important.

"It would not be of any use if the borrower cannot pay the debt and the car is repossessed. We want those who have the capability to take on (debt)," she said.

As such, she said the guidelines ensured Malaysia's household debt and the quality of debt remained positive.

In addition, Zeti said the country's non-performing loans were declining.

She also said sales of vehicles had to be based on comparative advantage such as cost of effectiveness, model designs and innovation that the automotive companies had undertaken.

"All these will help them. And, also it is obvious that the Malaysian market at some point will become highly saturated. It is already saturated in terms of car ownership," she added.

Zeti said it was important for automotive players to be highly competitive and export their vehicles overseas. —Bernama