Penang property market to be resilient on sustained demand

PETALING JAYA: Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state.

“There has been a slowdown in the last year. There are a few categories of investors in Penang; those who are owner occupiers, those who are investors for the cultural developments, those who are in the Malaysia My Second Home (MM2H) and Penangites who work abroad but would like to settle in Malaysia,” said Penang Institute CEO and head of economics studies Dr Lim Kim Hwa (pictured) at the National Real Estate Convention (NREC) 2015 yesterday.

“For the last two categories, the properties in Penang would be priced significantly cheaper, thus I believe the demand in the property sector in Penang would remain rather constant,” concluded Lim during his presentation entitled “Penang: The Next Metropolis”.

In terms of the wider economy, Penang is expected to register a 5% to 6% growth in its gross domestic product (GDP), outpacing the overall country’s growth by 1%, he said, noting that last year, Penang’s GDP grew by 7.4% while Malaysia’s grew by 6%.

According to Lim, Penang contributes 21.8% of the balance of Malaysia’s trade surplus, specialising in machinery, transport equipment and miscellaneous manufactured articles.

“Penang’s economy is more export-orientated, and now there is a better demand for electrical and electronic goods,” he said.

The export sector is expected to improve with the recovery of the US economy and the weaker ringgit, he added.

“It is important that Penang provides the best environment to attract more investments. Penang is the main manufacturing and economic hub for electronic and electrical items. Bayan Lepas is already full. It is important to provide more space for industrial growth.”

Some of the projects and initiatives that are expected to contribute to this growth is the IT-BPO at Bayan Lepas, BPO Prime at Bayan Baru and Changkat Byram, south of Batu Kawan.

Other projects that will benefit Penang overall include the Penang Transport Master Plan, Penang Heritage Arts District – Ilham Penang at Sia Boey, Creative Animation Triggers at Wisma Yeap Chor Ee, and Komtar refurbishment. “All of these projects involve the private sector,” added Lim.

“The Penang Transport Master Plan (PTMP) is the catalyst to [turning Penang into a] metropolis, as it involves alleviating a lot of the problems locally in Penang, especially traffic congestion,” said Lim.

Expected to be completed in 2030, the RM27 billion project would include amenities such as trams for the heritage zones, LRT for the island and mainland, and water taxis.

Lim said Penang is on track to achieving its metropolis status.

“It is an ongoing process, and there is no deadline. Penang aims to transform into an international, intelligent city filled with life. To create a great metropolis, it has to be unique, and it has to attract people to want to live and expand the growth of the city,” he said.

NREC 2015 saw more than 250 participants from the banking, development, property and consultancy industries.

NREC is organised by the Royal Institution of Surveyors Malaysia (RISM) and co-organised by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).

Themed “Homes For Generations – Redefining Development Trends”, the convention highlighted concerns for the future of the real estate industry in Malaysia.

By Hannah Rafee / theedgeproperty.com 

Good things on the trot in Year of the Horse for 2014

The noble horse should bring luck and harmony to those who make the proper observances.

WE are four days away from ushering in the Chinese New Year and I’m swamped with queries from readers as to how they can improve their luck and prosperity in the Year of the Horse.

Local and foreign geomancy experts have been giving varying views about this year’s outlook.

Several astrologers and feng shui experts have predicted the Year of the Horse to be a better year than the previous one and there are some who have forecast financial struggles and challenges.

Some people attribute their successes and windfalls to feng shui and spiritual practices and there are groups who relate them to hard work and coincidences.

The horse, the seventh animal in the Chinese zodiac, embodies characteristics such as strength, perseverance, speed, purity and loyalty. – EPA

So which philosophy is correct, or which one do we follow?

It depends on which faith system (Chinese or Indian) you observe.

I spoke to several experts recently on the subject of metaphysics to get some insight on the different schools of philosophy.

Feng shui consultant Henry Fong from Kuala Lumpur said that if one wants to have better luck and harmony in the Year of the Wood Horse, they would have to follow the orientation of certain things in their home.

For dwellers living in a house that is facing south, he said, they should not carry out renovations or they would activate Tai Sui, which would create problems for the occupants.

(Tai Sui refers to stars directly opposite to Jupiter. They influence the Chinese zodiac, and are involved in religious Taoism and feng shui.)

Fong urged people not to renovate the north sector for fear of triggering the three killing energies resulting in obstacles, disaster and robbery.

He said, however, that it would be good to occupy and spend time in the north, south and south-west sectors.

Fong said the north-west and east sectors should be avoided and if they are unable to do so, they should place metal items there to neutralise the negative energies that can lead to health problems.

Luck and fortune according to Indian vedic astrology is determined by the placement of the nine planets on an individual’s birth chart based on the date, month, year and time of birth.

According to Vasthu Sastra consultant and astrologer Master Yuvaraj Sowma from Chennai, luck and fortune are uncontrollable and people only get what they deserve based on their astrology and not what they desire.

He agrees that luck can be induced through spiritual practices like performing specific rituals to woo the energy of positivity.

Yuvaraj said the first six months of this year would produce better results than the second half.

From the Chinese almanac, the horse is naturally lucky when it comes to finance and career; meaning those born in the Year of the Horse will enjoy a better period.

To enhance destiny, luck symbols are made available in feng shui because of the belief that such products help chi flow gracefully through rooms, homes and offices.

Energy consultant and author Janarrdhana Guptha from India promotes good luck symbols as an effective way to manifest things that an individual wants to attract into his or her life.

According to him, symbolism is popular in almost every culture and symbols impact our subconscious mind, stimulate confidence and offer good outcomes.

“When the geometric shape, size, meaning and their other nuances are properly understood and activated, it results in transmission of energy which is the vital force that governs everything in the universe.

“Chi has the power to alter and amplify energy flow in any space,” said Guptha, who is the author of Guide To Feng Shui Good Luck Symbols.

He said the end result of using good luck symbols, charms, amulets and talismans is that they create an environment rich with positive energy that produces positive thinking, focused minds and confidence, and removes blockages.

In order for symbols to produce the anticipated results, the products should be cleansed and energised before use.

As for horse figurines, Guptha said the Chinese have always associated it with gifts given to emperors.

The horse is the seventh animal in the Chinese zodiac and it embodies noble characteristics such as strength, perseverance, speed, purity and loyalty.

For those who wish to have their talents and hard work acknowledged by their superiors, Guptha said they should place a flying horse figure in the south of their homes.

The horse statuette is ideal for those who are in marketing or the travel industry, and are frequent travellers.

Vasthu Sastra talk and astrology talk

T. Selva will present a talk on ancient secrets, Vasthu Sastra and the astrology forecast for 2014 from 3pm to 5pm on Feb 15 at Universiti Tunku Abdul Rahman (Utar), Jalan Universiti, Bandar Barat, Kampar, Perak. Admission is free. To register, call 012-329 9713.

Contributed by T. Selva
> You can follow T. Selva on twitter@tselvas and write to him at tselvas@thestar.com.my. This column appears on the last Sunday of every month.

 T. Selva is the author of the Vasthu Sastra Guide and the first disciple of 7th generation Vasthu Sastra master Yuvaraj Sowma from Chennai, India.