Property

Property SectorIn early April 2013, iProperty.com, the number 1 property website in Malaysia conducted a survey through their website. The survey aimed to gather information from Malaysian Property Hunters / Searches on their needs from the new government that will form after the 13th General Election.

The survey which was conducted in between 12th to 16th April 2013 with the title “Will the upcoming General Elections affect the real estate market?”. It manage to attract 2275 property hunters & searchers throughout Malaysia.

Generally, most Property Hunters / Searches in Malaysia want the government to curb the rising of the property price. The full outcome of the survey can be easily read from the infographic below.

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Green HomeCountries such as America, Australia, Europe and Japan have long developed green building ratings, about 20 years ago and well exposed to it. However, Malaysia had only launched the Green Building Index (GBI) in 2008. It is known as a green rating tool for buildings and towns in Malaysia, with aims of promoting sustainability in the built-environment and raise awareness of environmental issues among everyone for a brighter and greener future.

According to New Bob Group Director, Dr. Lee Ville,“Green homes provide occupants the opportunity to live in a healthier and cost saving environment. Its appeal to promote sustainable and friendly built mother earth has never been greater. Not many malaysians are aware that sustainable buildings are rapidly becoming a necessity to counter today’s worsening climate change and high-living cost”.

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PropertyIf you are buying an under construction  sub-divided building (Strata) or  town villa type property directly from the developer, the payments to the developers will be based on the construction progress of the said property. Buyer (or the lender) is required to pay progressive payment (mostly within 21 days) once the construction milestones achieved & approved by the architect.

The payment milestone is very much similar to Progressive Payment Schedule for Landed Property except for a few items.

Take notes that after the purchaser takes the vacant possession (buyer is able to stay in the property), there is still 5 percent of the total purchase price being held. This amount will be paid to the property developer in two stages, 2.5% each after 6 months and 18 months after the date the purchaser takes vacant possessions.

The table below is the progressive payment schedule for sub-divided building (Strata) or  town villa type property. This schedule also appeared in Schedule 3 of Sales & Purchase Agreement.

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PropertyIf you are buying an under construction  landed property directly from the developer, the payments to the developers will be based on the construction progress of said property. Buyer (or the lender) is required to pay progressive payment (mostly within 21 days) once the construction milestones achieved & approved by the architect.

Take notes that after the purchaser takes the vacant possession (buyer is able to stay in the property), there is still 5 percent of the total purchase price being held. This amount will be paid to the property developer in two stages, 2.5% each after 6 months and 18 months after the date the purchaser takes vacant possessions.

The table below is the progressive payment schedule for landed property. This schedule also appeared in Schedule 3 of Sales & Purchase Agreement.

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New Bob RealtyThe capital of Penang, Georgetown is a widely known Unesco world heritage site. Not only does it popular with its rich British colonial history, but also its street food and interesting architecture. Home to a myriad of main races comprising Chinese, Malay and India,  it has been recently voted as one of the world’s eight great places for foreigners to retire abroad through Kiplinger, a well-known US based publication.

According to New Bob Group director, Dr. Ville Lee “ With such recognition, it will create more opportunities for the Penang property market to boom in a greater scale. More foreigners are expected to flock into the island and purchase properties for a good retirement or permanent residence”.

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