The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand, has secured a contract from Nusajaya Consolidated Bhd to manage the Somerset Puteri Harbour Iskandar, its first serviced residence in Iskandar, Malaysia. Scheduled to open in 2013, the 204-unit project will be developed in a new joint venture between Malaysian developers UEM Land Bhd and United Malayan Land Bhd. Somerset Puteri Harbour...
Malaysia Property
Finally! After a long wait since your Sale and Purchase Agreement (SPA) signing, your property in Malaysia is ready for handover by the developer. Here are some things to keep in mind to ease the experience of taking over your new home. Issue of Vacant Possession Vacant Possession (VP) refers to the condition of a property when it is fully completed but not fit to be occupied. To protect your interest,...
There is growing interest among Singaporeans in investing in residential properties outside the country following the fourth round of property market cooling measures announced in January. The measures include increasing the holding period for the imposition of seller's stamp duty to four years and lowering the loan-to-value-limit to 60 per cent on second and subsequent mortgages. With a bullish...
Malaysia is set to become the next possible destination for investors from Singapore, according to a government official from the middle-income economy while citing actions taken to strengthen the business environment. “With housing prices in Singapore escalating, Singapore-based investors are looking for neighbouring investments that offer strong alternatives with less entry barriers,” said Chris...
Malaysia's residential market continues to see active new launches and previews of high-end condominiums in the established neighbourhoods of Kuala Lumpur City Centre, Jalan Ampang and U Thant, DTZ Research said in a report. Despite the year-end, the market for new launches of prime condominiums remained active, with developers focusing on smaller units. Encouraging take-up rates were noted in the few new...
The developer of Medini, the flagship site under Malaysia's Iskandar Development Region in Johor, is stepping up efforts to attract investments. A sales and marketing programme will officially kick off in the first half of 2011, in neighbouring Singapore and one of the key targets will be small and medium enterprises. The company in charge of developing the site, will also look at other ways to boost...
Malaysia's central bank will clamp down on any speculation that threatens to create a property bubble, the central bank chief said yesterday. Governor Zeti Akhtar Aziz said the central bank wanted to promote house ownership but that it had "wide ranging instruments" to deal with any excesses in the sector. "For first time house owners and perhaps even the second one, any new rules would not apply. It...
CapitaLand's wholly-owned subsidiary, The Ascott, is releasing limited units of the Marc Service Residence in Kuala Lumpur, Malaysia for sale. Property consultant DTZ said these units will be sold with tenancy agreements which give the buyer a 6 per cent annual rental return till the end of December 2013. DTZ added that further extension of the rental return scheme shall be subject to mutual consent. It...
A Malaysian government-linked property firm is hoping to attract more foreigners to buy property in the country. The firm, Malaysian Property Incorporated, has set up its first regional office and showroom in Singapore. It aims to uplift Malaysia's image as an investment destination and has chosen Singapore as a launch pad for its campaign. The company plans to showcase the projects of Malaysian...
With stricter property rules and property prices still buoyant, some Singaporeans and Malaysians are looking to invest in property in Johor. "These are Singaporeans with existing homes - they are not affected by recent cooling measures," said Neo Keng Hoe, who heads the Singapore office of Malaysian property developer S P Setia International. "They are looking to invest in the Iskandar Region because of...