The PROPERTY sector may have lost a little of the sizzle it enjoyed over the last few years, but developers are optimistic that demand for residential property will continue to remain strong this year.
These days, buying a home is more than just about square footage. Developers are well aware of the need for product differentiation as consumers are also looking at amenities, security and lifestyle elements in the quest for a safe and comfortable home.
Certainly, last weekend’s StarProperty.my Fair 2015 at a hotel in Puchong, Selangor provided property developers with a good platform to woo homebuyers with their brand of unique home elements.
Some of the top property developers who exhibited their recent launches at The Star Property.my Fair 2015 included Tropicana Corporation Bhd, Titijaya Land Bhd, IJM Land Bhd, Matrix Concepts Holdings Bhd, Mah Sing Group Bhd, UEM Sunrise Bhd and Eng Han Property Sdn Bhd.
UEM Sunrise displayed their flagship project Symphony Hills, a boutique development located in Cyberjaya with state-of-the-art fibre-optic infrastructure to enable smart-home conveniences.
UEM Sunrise acting chief marketing officer, Zadil Hanief Mohamad Zaidi, also noted that green technology is incorporated in most of the firm’s developments, including Symphony Hills and Verdi Edo-Dominium, which are Green Building Index (GBI) certified.
“Our developments are designed with the guidelines of Crime Prevention through Environmental Design (CPTED). We are also deploying our UEM Sunrise Auxiliary Police,” he added.
The developer also recently launched its affordable home project in Johor via the Johor Affordable Housing or Rumah Mampu Milik Johor (RMMJ) iniatiative.
Titijaya promoted its H20 Residences, which sits among the last plot of freehold land in Petaling Jaya.
Also showcased at the fair was IOI Properties Group Bhd’s Puteri Hills and Skyz Residence. IOI Properties senior sales and marketing manager Mohd Ezuddin Sami’an said Skyz Residence is an eco-friendly project located at the highest peak in Puchong, allowing for an unobstructed view of the city skyline.
With projects aimed at first-time home owners, Sami’an noted that it was important for first home-buyers to examine a developer’s track record and reliability before making a decision to purchase.
“Try to visit the site and show units to ensure that the facilities and amenities are sufficient,” he added.
IOI Properties is also currently focused on the Bangi-Semenyih corridor where land is still affordable.
Eng Han Property Sdn Bhd, first-time participant at the StarProperty.my Fair, also addressed concerns regarding affordability, as director Pua Kai Han urged property hunters with budget constraints to consider properties in the outskirts since “prices there are still affordable.”
He added that property with good accessibility will have good capital appreciation over time and it should be thoroughly considered before obtaining a property.
Eng Han Property promoted its high-rise project in Penampang, Sabah, as well as its Taman Denai @ Puchong and Taman Titi Heights @ Penang projects.
Pua mentioned that the response at the fair was overwhelming and the firm was definitely looking forward to participating in more upcoming StarProperty.my fairs.
To sweeten the deal for buyers, developers offered various promotional campaigns and packages at the recent fair. These included the “Dream Investment” campaign by Tropicana, where six lucky winners stood a chance to purchase key properties at half-price, and special packages by Mah Sing for its Icon City project.
Besides that, DK-MY Properties offered a 7% rebate and free legal fees for visitors, while Matrix Concepts showcased its Bandar Sri Sendayan @ Seremban and offered free club membership for its residents.
Visitors who signed up to purchase a property at the fair also stood a chance to win cash vouchers. Many came away with interesting information from the series of insightful talks held during the three-day event. The talks covered a wide variety of topics, all presented by knowledgeable experts in their respective fields.
On the first day, Jacky Cheng took the crowd through his “Property Market Overview”. Joshua Kang’s topic was “Increase the Value of Your Property Through Building Inspection” and Ahyat Ishak talked about the “Seven Mistakes in Buying Property”.
Other talks presented covered topics such as “Tax Awareness in Property Investment”, “Maximising Your Borrowing Capacity”, “Busting the Myth of GST”, “Back to Basics: Five Keys to Succeed in Property Investment” and “Vasthu Sastra Indian Feng Shui”.
In his talk titled “Malaysian Property Market and Propenomy of Investment Grade Products”, Dr Daniele Gambero, CEO and co-founder of strategic marketing consultancy firm REI Group of Companies, noted that Malaysia was gaining ground as one of the most attractive places for residential and commercial developments.
“We have genuine buyers who need to compete with investors and speculators driving up market prices.
“There should be a balance between properties that are developed for the high-end, mid-end and low-end markets so that a solution can be found for Malaysians to own property,” Gambero said.
ID King Academy’s Adrian Wee touched on how homebuyers need to have a set budget in mind and work backwards in his talk “Save Money Before You Get Your Keys”.
“Bring along your complete renovation and interior designing ideas to a few contractors so that you will receive proper quotations to choose from.
“In that way, you will then be able to start work on your unit immediately, thus saving time and costs,” Wee said.
As a rule of thumb, cosmetic renovations should only cost 10% of the property’s purchase price and the time spent on the work should be less than four to eight weeks.
Structural renovations, on the other hand, should only cost 30% of the property’s purchase price and the time spent on the work should be less than eight to twelve weeks.
Meanwhile, BDO Malaysia executive director for tax, Christopher Low, expects inflation to rise for the first few months after the implementation of GST, as evident through the experiences of other countries.
Since property developers will incur 6% on their side, Low opined that it was “better to buy a property now before the GST because theoretically, when GST rolls around, your property will then be 6% cheaper than that of the property developer’s”.
For more information on the next StarProperty.my Fair, log on to the fair.starproperty.my.