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Tuesday, December 27, 2011

Singapore Property Market | Singapore Tax Rates | Singapore Stamp DutyHike | New strategies needed after Singapore’s latest property curbs.

Posted on 27 December 2011 - 05:36am
Eva Yeong
sunbiz@thesundaily.com


PETALING JAYA (Dec 27, 2011): Malaysian property developers with projects in Singapore will have to rethink their strategy, including selling more to Singaporeans, after the island nation came out with a new ruling on additional tax for foreign buyers early this month, said Ho Chin Soon Research Sdn Bhd director Ho Chin Soon.

"There is a big effect because for the top brands (of Malaysian property developers) who are there, the buyers are mostly Malaysian buyers who follow their brand. Malaysian developers with projects there now need to change their strategy and sell to Singaporeans," he said.

On Dec 7, the Singapore government announced an additional stamp duty of 10% on the value of residential properties sold to foreign buyers in a bid to cool down the property market, as well as a 3% tax on permanent residents and citizens who buy a second or third home.

Among the big local property players with exposure to Singapore properties are SP Setia Bhd, Selangor Dredging Bhd, IOI Corp Bhd and YTL Land and Development Bhd.

Ho said the new ruling also affects Singaporean property developers who also depend on foreign buyers, especially those from mainland China who make up a sizeable portion of foreign property buyers in the republic.

"Nobody is happy about it," he said.

However, S P Setia Bhd president and CEO Tan Sri Liew Kee Sin had earlier said the company does not expect the new measures to affect its property sales in Singapore as 70% of its buyers are local upgraders.

The additional stamp duty is expected to help cool investment demand for private residential properties, especially from non-resident foreigners, and avoid the possibility of a major correction in the future.

It was reported that foreign purchases in Singapore accounted for 19% of all private residential property purchases in the second half of this year, reflecting a 7% increase from the first half of 2009.

However, demand from non-resident foreigners is expected to dry up quickly with the new measures in place.

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Sunday, December 18, 2011

Microsoft Knowledge Base | Internet Explorer : Known issue on browsing at this site.

This site supports all major web browsers. Note that for Internet Explorer(IE) prior to IE 9 the frameset attribute is not been supported.

That's the reason when browse with IE prior to IE 9 the 2nd frame(where the Customer Survey and all the links) is been append below blog instead of by the side of blog.

To resolve IE issue, upgrade to IE 9. Take note that your computer OSes should be Windows Vista/7 onwards.

Penang Shopping | Penang Mall | Island Plaza Penang: Retail lots

With renovation of Penang Island Plaza shopping complex going on and expected to complete soon, it's retail lots are now opening for rent.

For prospect tenants that are interested do call Vulcan Lau, mobile: +6 016 451 1321 for more details.

Book early to avoid disappointments.

Thursday, December 15, 2011

Singapore Property 2011 | Property Stamp Duty Rate Singapore |Singapore Stamp Duty Property Hike | Foreigners and PRs have to paymore stamp duties in Singapore

HOUSING INVESTMENTS By THEAN LEE CHENG
Saturday December 10, 2011

ON Wednesday, The Singapore government imposed a new 10% stamp duty on foreigners and companies buying private residential property in the city state. The move, its fifth in the past two years, is the first in 15 years targeted at foreign buyers.

The stamp duty, effective from Dec 8, is in addition to the existing buyers' stamp duty, which is 1% for the first S$180,000 of the purchase price, 2% for the next S$180,000 and 3% for the rest, The Straits Times reported.

Permanent residents who already own a property, and who are buying a second or subsequent property, will now have to pay an extra stamp duty of 3%. Singaporeans who already own two properties and are buying a third or subsequent property will also pay extra stamp duty of 3%.

For a S$1 mil property, a foreigner will have to pay an additional buyer's stamp duty of S$100,000 on top of the current S$24,600.

The move underscores two important issues.

The first, that inspite of the “open and free” market system there, the government is ready to swallow the bitter pill of plying measures that may well add to an already weakening Singapore economy, if those measures were to be the salvation of the country's greater economy in the long-term.

The second is its timing. Why, at this juncture when European leaders are meeting this week in an attempt to solve the eurozone crisis?

Thus far, foreigners and Permanent Residents, many of whom are Malaysians, have enjoyed a fairly “open and free market” when it comes to property ownership. Until Wednesday, they faced only certain restrictions in buying landed homes.

Notwithstanding this open, free and transparent system, Singapore has a two-tiered property market. There is the HDB (or Housing Development Board) and the private residential market. HDB housing makes up the bulk of the market, at about 80%. Private residential market accounts for only 20%.

The fact that the government is concerned about prices shooting further in this 20% portion underscores the primacy of the property sector in the country's greater economy.

It also underscores its vast exposure in terms of value, that this 20% commands in Singapore's property market. This private residential portion is primarily owned by foreigners where prices are many times that of the HBD portion.

In the event the eurozone talks hit a snag due to disagreements among the eurozone members this weekend, and because of Singapore's high foreign exposure, any price fall in that 20% portion will also affect the HBD portion.

In any market where there is a large foreign exposure, there will be a greater degree of volatility because foreign buyers will be the first to leave that market. They will not be staying around to weather the storm. It is the PR holders and citizens who will be staying put.

Foreign buyers accounted for 19% of all private residential property purchases in the second half of this year, up from 7% in the first half of 2009. These figures exclude purchases by PRs, The Straits Times reported.

Sales of new private homes hit a record 16,292 last year. This year looks to be another banner year with 13,688 units sold in the first 10 months, Straits Times reported. That imposition of the stamp duty is sending a message to investors and speculators that the government is seriously concerned about the formation of any bubbles in that 20% private residential portion.

Let us return to Malaysia. For years, property consultants and developers have been trying hard to sell high-end properties, both landed and high-rise to foreigners. They are at a loss why despite comparatively low prices in Malaysia, our properties have not enjoyed the same attention as those in Singapore, Hong Kong, China, Vietnam and other southeast Asian countries.

The fact is, low prices alone will not attract foreign buyers. While property ownership seems easy enough foreigners can buy residentials exceeding RM500,000 there are many other factors that play an important role. Notwithstanding all these, do we want a large foreign exposure? There are mixed views about this among property consultants, developers and government.

It is a fact that the Malaysian property sector will not have the global intricacies tied up with being an international financial hub, so we need not be too worried about that. But we do need to mull over our own property sector as a result of Singapore's move and consider how we can fine-tune our property sector less the threat of eurozone woes come knocking on our doors. We do have a lot of high-end properties waiting to be sold and authorities who approve such projects need to consider today's global climate.

Assistant news editor Thean Lee Cheng has two questions: Do we want a large foreign exposure? And if not, what are we to do with the thousands of units of high-end housing which are unsold today?

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Factory/Factories For Rent/Sale In Penang | Penang Property/PropertiesAgent | Factory For Sale At Perai Free Industrial Zone Phase 1: ForSale By Tender (Leasehold Factory)

Factory For Sale At Perai Free Industrial Zone Phase 1: For Sale By Tender (Leasehold Factory)

Tender submission by 04-Jan-2012, Wednesday on or before 5pm. Interested call Vulcan Lau, mobile: +6 016 451 1321 for details of tender documentation.

Monday, December 12, 2011

Malaysia broadband/internet penetration | National broadband penetration rate reaches 81 per cent

News 2011-12-12 15:26
KUALA LUMPUR, Dec 12 (Bernama) -- The national fixed line and wireless broadband penetration rate had reached 81 per cent of populated areas, the Dewan Negara was told today.

Deputy Information, Communications and Culture Minister Datuk Joseph Salang Gandum said up to the third quarter of this year, the total internet subscriptions numbered 5.59 million and the number of internet users was approximately 17.5 million.

"The internet service coverage has also been increased from time to time by the service providers and through the implementation of broadband initiatives by the government.

"Among the initiatives are the construction of telecommunication tower, wireless village, community broadband centre and broadband services at rural libraries," he said in reply to Senator Chew Lee Giok during question time.

The deputy minister also said the broadband penetration rate in Malaysia should not be compared to Singapore and Hong Kong.

"This is because the population density in Malaysia differs from the two countries... so is the size and the geographical features of Malaysia," he said.

Nevertheless, he said the government was concerned with the service performance and the quality of internet service in the country and had underlined the mandatory standards for broadband access service that should be adhered to by the service providers.

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Sunday, December 11, 2011

118 @ Island Plaza Penang | 1-Bedroom design

With the concept of SOHO, 118 @ Island Plaza Penang for 1-Bedroom design use as residential.

118 @ Island Plaza Penang | 3-Bedroom design

With SOHO concept, 3-Bedroom design at 118 @ Island Plaza Penang use as small office home office.

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Thursday, December 8, 2011

118 at Island Plaza Penang - Invitation to actual show units available for viewing


Dear Buyers,
/------------------------------------------------------------------------------------\
Fact#2: Discounts: units 1-3A (hill view) 5%, units 8-12A (sea view) 3%.
Stamp duty & legal fee will be absorbed by developer *T&C apply. Starting tomorrow(9-Dec-2011 till 11-Dec-2011(Sunday). So don't let it slip through your hand. Number of units available are limited.

Do call Vulcan Lau, mobile: +6 016 451 1321 for appointment.
\------------------------------------------------------------------------------------/
Date: 09 - 11 DEC 2011(Fri - Sun)

I will be at Level 6 where the actual units are available for viewing on 10 - 11 DEC 2011(Sat - Sun) from 10am till 6pm. You could also check with me on its pricing.

Please give me a call (mobile: +6 016 451 1321) Vulcan Lau before you coming over for purchase so that I will be able to accommodate and assist you in your valuable purchase.

Looking forward to your call. This is a good investment and don't miss the opportunity to own one for yourself or to conduct your business.

Thank you.

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Sunday, December 4, 2011

Customer Feedback Form | Customer Survey - 2011/2012

Dear Valued Customer,

As we're coming toward end of 2011 year, we would be appreciated if you could spend a few minutes of your precious time to fill up our Customer Survey/Customer Feedback Form. We hope to serve you better and wishing you MERRY CHRISTMAS AND HAPPY NEW YEAR.

Please click the link below to fill up the form. Thank you.

http://www.surveymonkey.com/s/PWX88DW


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Saturday, December 3, 2011

Auction Properties Malaysia | Penang Property Blog | Bank Lelong | Lelong Awam | Lelong Galeri | Auction House | Auction Property Penang | Auction Listing From Bank: Dec2011(H S)

Lists below are Penang auction properties from banks. It's now been placed under property for auction/Bank Lelong/Lelong Awam/Lelong Galeri. Take note on the Penang Property Blog auction date for the property that you're interested. In the case of property without auction date you need to call Vulcan Lau, mobile: +6 016 451 1321 .
No
Particular of the Property
Approved Reserve Price
No of Auction Fair (inclusive this)
1
1-3A-29, Solok Semarak Api, 11500 Penang
44,700
5
2
2 bedroom flat bearing address No 1066-10-45, Green Garden, Jalan Paya Terubong, 11060 Penang (51 sq m)
37,300
3
3
A 2 bedroom flat bearing assessment address No. 2-18-8, Desa Mawar, Lintang Kampung Melayu 2, Bandar Baru Air Itam, 11500 Penang (538 sq ft)
60,000
2
4
No. 1B-9-4, Jalan Merbah, 11950 Bayan Lepas Penang
120,000
2
5
No. 5-20-12A, Taman Bendera, Lintang Relau 1, 11900 Penang
52,700
7
6
A 3 bedroom flat bearing assessment address 3B-16-5, Jalan Rumbia, BJ Court, 11900 Penang
120,000
1
7
2 Bedroom Flat bearing address No. Asoka-4-13, Mutiara Perdana, Lengkok Kelicap, 11900 Bayan Lepas, Pulau Pinang. (538.20 sq. ft.)
60,000
1
8
1-03-3A, Solok Kenari, Taman Sri Puteri, 11900 Bayan Lepas Penang
90,000
1


NO.
PROPERTY
AUCTION DATE
PROPERTY TYPE
BUILD-UP AREA / FLOOR AREA
TENURE (FREEHOLD / LEASEHOLD)
RESERVE PRICE (RM)
1
1-G-2,TAMAN HUI AUN, HALAMAN ZOO SATU,11500 AIR ITAM,PENANG
23-Feb-12
STRATIFIED SHOPLOT
65 SQM
FREEHOLD
190,000.00
2
7A-09-11,DESA INTAN,LEBUHRAYA
THEAN TEK, BANDAR BARU AYER
ITAM,11500 PULAU PINANG
PENDING
3 BEDROOM FLAT
59SQM
LEASEHOLD
76,950.00
3
1B-14-05, DESA DELIMA, LORONG SEMARAK API 2, BANDAR BARU AYER ITAM, 11500 PULAU PINANG
PENDING
3 BEDROOM APARTMENT
64 SQM
FREEHOLD
117,000.00
4
7A-11-11, DESA INTAN, LEBUHRAYA
THEAN TEIK, BANDAR BARU AYER
ITAM, 11500 PENANG
PENDING
3 BEDROOM FLAT
59 SQM
FREEHOLD
80,000.00
5
2C-13-09, MEDAN ANGSANA SATU, BANDAR BARU AYER ITAM, 11500 AIR HITAM, PULAU PINANG
PENDING
2 BEDROOM FLAT
48 SQM
LEASEHOLD
52,650.00
6
12-3-6,LENGKOK MAHSURI,BANDAR BAYAN BARU,11950 PENANG
17-Jan-12
2 BEDROOM FLAT
51 SQM
LEASEHOLD
75,000.00
7
14-1-3, LENGKOK MAHSURI, BANDAR BAYAN BARU, 11950 PENANG
PENDING
TWO BEDROOM FLAT
51 SQM
LEASEHOLD
80,000.00
8
3-2-4, LENGKOK MAHSURI, BAYAN BARU, 11950 PENANG
PENDING
LOW COST WALK-UP FLAT
51 SQM
LEASEHOLD EXPIRING 29.12.2079
70,000.00
9
G-3-11,LORONG MAHSURI 10,BAYAN BARU,11950 BAYAN LEPAS, PENANG
14-Dec-11
2 BEDROOM LOW COST WALK-UP FLAT
49 SQM
LEASEHOLD
70,000.00
10
L-2-2, LORONG MAHSURI 11, BAYAN BARU 11950 BAYAN LEPAS, PULAU PINANG.
PENDING
2 BEDROOM LOW COST FLAT
49 SQM
LEASEHOLD EXPIRING ON 01.05.2077
52,488.00
11
6A-5-10, PERSIARAN MAYANG PASIR 5, 11900 BAYAN LEPAS, PENANG
PENDING
2 BEDROOM FLAT
500 SQFT
LEASEHOLD EXPIRING 21.02.2082
52,650.00
12
4-5-1, SOLOK SUNGAI ARA SATU, SUNGAI ARA, 11900 BAYAN LEPAS, PENANG
PENDING
2 BEDROOM LOW COST WALK UP FLAT
50.3 SQM
LEASEHOLD EXPIRING 26 AUG 2082
60,750
13
B-16-4,TAMAN BUKIT JAMBUL,JALAN
BUKIT GAMBIR,11900 BAYAN LEPAS,
PULAU PINANG
PENDING
2 BEDROOM FLAT
56.2 SQM
FREEHOLD
52,488.00
14
6-4-2,SOLOK SUNGAI ARA 1,SUNGAI
ARA,11900 BAYAN LEPAS,PULAU
PINANG.
PENDING
2 BEDROOM FLAT
51 SQM
LEASEHOLD
68,850.00
15
20,PINTASAN BAHAGIA 14,BANDAR
BAYAN BARU,11950 BAYAN
LEPAS,PENANG
PENDING
INTERMEDIATE
DOUBLE STOREY
CLUSTER
69 SQM
LEASEHOLD
120,000.00
16
1-3-3,LENGKOK MAHSURI,BAYAN
BARU,11950 BAYAN LEPAS,PULAU
PINANG
PENDING
2 BEDROOM FLAT
51 SQM
LEASEHOLD
90,000.00
17
2-3-4, LENGKOK MAHSURI, BAYAN BARU, 11950 PENANG
PENDING
LOW COST WALK-UP FLAT
51 SQM
LEASEHOLD
99 YEARS EXPIRING
29.12.2079
58,500.00
18
1-3-5,TAMAN PEKAKA,JALAN PEKAKA 2,11700 GELUGOR, PENANG
PENDING
3 BEDROOM LOW COST WALK-UP FLAT
61SQM
FREEHOLD
70,000.00
19
16,LORONG SECK CHUAN,10200 GEORGETOWN,PULAU PINANG
PENDING
AN INTERMEDIATE DOUBLE STOREY SHOP-HOUSE
82.681SQM
FREEHOLD
320,000.00
20
408-3-3,JALAN SELAMA,11600 JELUTONG,PULAU PINANG
PENDING
SHOP APARTMENT
66SQM
FREEHOLD
89,100.00
21
39-4-9, TINGKAT PAYA TERUBONG 4, MUKIM 13, 11060 PENANG
PENDING
2 BEDROOM FLAT
560 SQFT
LEASEHOLD EXPIRING 12.06.2086
52,650.00
22
9-3-2 TMN SRI ANGSANA, LEBUH RELAU 3, 11900 PENANG.
14-Dec-11
3 BEDROOMS APARTMENT
64 SQM
FREEHOLD
140,000.00
23
1B-15-04, DESA DELIMA, LORONG SEMARAK API 2, BANDAR BARU AYER ITAM,11500, PULAU PINANG
PENDING
3 BEDROOM APARTMENT
64 SQM
FREEHOLD
117,000.00
24
1B-5-9,DESA DELIMA,LORONG SEMARAK API 2,,BANDAR BARU AIR ITAM,11500 PENANG
PENDING
3 BEDROOM APARTMENT
64 SQM
FREEHOLD
110,000.00
25
4C-5-17,LORONG SEMARAK API 1,BANDAR BARU AYER ITAM,11500 PULAU PINANG
PENDING
2 BEDROOM FLAT
47.6SQM
LEASEHOLD
54,675.00
26
4E-16-19, LORONG SEMARAK API SATU, BANDAR BARU AIR ITAM, 11500 PENANG.
PENDING
2 BEDROOM APARTMENT
47.60SQM
FREEHOLD
41,340.00
27
4C-11-8,LORONG SEMARAK API 1,BANDAR BARU AYER ITAM,11500 PULAU PINANG
PENDING
2 BEDROOM FLAT
47.6SQM
LEASEHOLD
54,765.00
28
4E-12-22, LORONG SEMARAK API 1, BANDAR BARU AYER ITAM, 11500, PULAU PINANG
PENDING
2 BEDROOM FLAT
47.6 SQM
LEASEHOLD
60,750.00
29
4A-5-24, LORONG SEMARAK API 1, BANDAR BARU AYER ITAM, 11500 AYER ITAM, PENANG
PENDING
LOW COST FLAT
56.6 SQM
FREEHOLD
58,500.00
30
L-3-11,PANGSAPURI TANJUNG TOKONG FASA 4A,10470 TANJUNG TOKONG,PULAU PINANG
13-Dec-11
3 BEDROOM APARTMENT
60 SQM
LEASEHOLD
130,000.00
31
M-4-3, PANGSAPURI TANJUNG TOKONG FASA 4A, JALAN TANJUNG TOKONG, 10470 PULAU PINANG
PENDING
3 BEDROOM APARTMENT
60 SQM
LEASEHOLD EXPIRING 01.05.2074
101,250.00
32
N-4-4,JALAN TANJUNG TOKONG,PANGSAPURI TANJUNG TOKONG,10470 PENANG
PENDING
3 BEDROOM FLAT
60 SQM
LEASEHOLD
100,000.00



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