Realty Tidbits: A recap of recent property happenings

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SP Setia’s ever expansion in Melbourne

Following the grand opening of Parque Melbourne, S P Setia’s second project in Melbourne, the developer is keen to expand its territories in Australia, with its main focus in the world’s most liveable city.

S P Setia Bhd non-independent non-executive chairman Tan Sri Datuk Dr Wan Mohd Zahid Mohd Noordin said Melbourne’s status as the six-year consecutive winner of the most liveable city reaffirmed Setia’s strategy in expanding in Australia, in particular Melbourne.

 

Sg Buloh-Kajang MRT line opens

The recently launched first phase of the Sg Buloh-Kajang Line is not expected to be heavily used for the moment. It will serve some 400,000 passengers when it is fully operational.

The launch will see 12 MRT stations open for commuters – Sg Buloh, Kampung Selamat, Kwasa Damansara, Kwasa Sentral, Kota Damansara, Surian, Mutiara Damansara, Bandar Utama, Taman Tun Dr Ismail, Phileo Damansara, Pusat Bandar Damansara and Semantan.

 

Penang continues to waive assessment rate

Assessment rates for all low-cost, low medium-cost and rural homes in Penang state are waived again next year. The rates for all other properties including factories and commercial premises will be reduced by 6%. The waiver will amount to RM14.09mil, while the 6% reduction will come up to RM21.74mil.

 

DatumCorp launches Datum Jelatek sales gallery

The Selangor State Development’s Corporation’s (PKNS) premium development arm, DatumCorp International, recently launched its sales gallery and opened the registration for the second tower of Datum Jelatek.

Situated at 42 Jalan Uthant, the sales gallery features its first development, Datum Jelatek, an award-winning integrated development with a gross development Value (GDV) of RM1.2 bil.

 

SkyWorld latest project sold out in 3 hours

SkyWorld Development Group's first two launches this year, SkyLuxe On The Park@Bukit Jalil and Bennington Residences @ SkyArena, Setapak received positive respond with over 80% and 91% take-up respectively.

Its latest development, SkyAwani 2 Residences, amassed 8,537 registrants and sold all 414 units within three hours.

 

7 things to know about the millennials

Millennials are changing the world, just not quite the way we think.

In December 2015, CBRE Research conducted a global survey of 13,000 young adults aged between 22 and 29 to examine how they live, work and play, and what this means for real estate.

The report suggested that while the Asia Pacific millennials are framing new regional lifestyle trends, they still shared similar long-term lifestyle priorities with other generations.

 

Asian city the world’s priciest office

SINGAPORE may be the world’s most expensive city, but when it comes to the priciest office, another Asian island city has snatched the honour.

Recently, a Worldwide Cost of Living report for 2016 has named Singapore as the most expensive city in the world to live in. However, the second runner up in the list, Hong Kong, has managed to top Singapore with the most expensive office space.

 

Can Malaysia’s shopping malls make it?

A RECENT report by Bloomberg stating Singapore malls’ occupancy rate reaching its lowest level in ten years, despite declining rental rates, was echoed by several reports that there is an oversupply of retail space in Malaysia.

Henry Butcher Retail managing director Tan Hai Hsin shared his take on local retail industry.

 

KPKT’s blacklists

For homebuyers, a broken promise in a development can cause devastating financial and psychological impact on them and their families, hence it is necessary to be prudent while committing to such a big-ticket purchase.

At the very least, do a background check at the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) website, and see if the developer has faced any problems in their projects.

 

A beginner’s guide to mortgage insurance

CHOOSING the right mortgage insurance may not be a life or death situation, but it is one important life choice. The right insurance might become the life saver for your loved ones when facing the uncertainties of life, while the wrong one will do little to alleviate a difficult financial situation.

In Malaysia, two mortgage life insurance are available to homebuyers – Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA).

 

Read here for Dec Realty Tidbits part I.