Tiram Realty - E(3)0077

Registered Estate Agency, Johor Bahru, Johor, Malaysia

  • Increase font size
  • Default font size
  • Decrease font size
Tiram Realty - Registered Real Estate Agency, Johor Bahru, Johor, Malaysia

Malaysian Institute of Estate Agents (MIEA) Johor Branch Activities Report for term 2008

Thursday, 26 March 2009 01:44 Lim Boon Ping
E-mail Print PDF

MIEA Johor Branch activities report for 2008 term:

(1)  Durian and local food buffet @ 28th June, 2008

Original plan was to hold it at a fruit farm at Pontian, but later changed to Johor Jaya due to the variety and qualities of durians. A handful of 15 participated including registered estate agents, negotiators and bankers.

(2)  Workshop:  Laws governing gated and guarded community @ 10th October, 2008

We had a good turn up of approximately 50 pax, including agents and developers. The talk was given by Mr. Andrew Tan, advocate and solicitor, Conveyancing Committee Chairman of Bar Council Malaysia. We were guided as to why and how the gated and guarded community came about together with its relevant Acts.

 

(3)  Two-Days’ Negotiator Course @ 13th & 14th December, 2008

Total of 30 negotiators attended and passed the course. Over 50% of them have applied for CREN.

 

(4)  MIEA Johor Branch Annual Dinner @ 13th December, 2008

Main sponsored by HSBC Bank, co-sponsored by Mr. H. L Wang (MIEA Johor legal advisor), the event was one of the most successful ever done. A total of 18 tables was  fully taken up. Members went home with a total lucky draw prizes (cash vouchers) worth up to RM1,500. Initiated by Mr. Lim Ah Leck, a fellow of MIEA, a total of RM10,000 was raised for the contribution of the building fund at the night. The night was graced by Mr. K. Soma Sundram, the President of MIEA and also the President of Singapore IEA, Mr. Jeff Foo.

 

(5)  Meetings with Government Arms

We have had several meetings with Johor State Government Departments throughout the years, namely the Unit Perancangan Negeri Johor, Johor State Investment Centre and also the Johor State Economic Task Force. Amongst the agendas discussed includes the planning issues, investment opportunities and also the market peformance information pertaining to Johor State.  

 

(6)  Field trips to Iskandar Malaysia

Several field trips have been arranged for both local Johor members and Singapore IEA’s members to further understand what Iskandar Malaysia is about and its progress. Places visited includes Bandar Nusajaya, Puteri Harbour, Horizon Hills, South Logistic Industrial Cluster, Ledang Heights and etc. Many of us have already benefited since the announcement of Iskandar Malaysia in December 2006 and we remain optimistic about Iskandar Malaysia despite the current economic turmoil.

 

(7)  Contribution towards National Building Fund

A big thank you to all Johor members for the total contribution towards national building fund of exceeding RM24,000 in year 2008 alone!

 

(8)  Singapore IEA Annual Dinner @ 27th March, 2009 at Inter-Continental Hotel in Singapore

A total of 10 delegates from MIEA Johor Branch, led by Mr. Lim Boon Ping, Branch Chairman, will be attending the dinner.

 

(9)  Workshop titled “Fengshui Talk on Qingming Culture “ (Mandarin session) @ 10th April, 2009 by Master Huang Shi Ling

This is a conplimentary talk offered by MIEA Johor and is scheduled an hour before the commencement of the coming Branch AGM.

 

The year 2008 is deemed a fruitful year to many. Year 2009 is deemed a challenging year. But as marked in the badge of  MAREC ’09 early this year, “I am not participating in the Downtown, it’s a Boom year for me!”

 

Thank you.

 

Best regards,

Lim Boon Ping,

Chairman, MIEA Johor State Branch

Last Updated on Monday, 30 March 2009 01:52
 
"I want to sell my property according to the value indicated in my assessment (cukai pintu)."

By Lim Boon Ping, on 20-03-2009 23:44

Views : 4339    

Favoured : 121

Published in : Tips & Advices, Buy & Sell

"My assessment (cukai pintu) says my house is worth RM300,000, please sell my house at the value indicated by government valuers."

Yes, we still receive numerous selling instructions with the abovementioned manner and  I was always puzzled by this type of instruction. My answer is NO due to the following two (2) major reasons:

(1) Purpose of valuation

The purpose of valuation when the local government valuers did the valuation is for the purpose of assessment, not for the purpose of sale negotiation. The basis of valuation is therefore varies.

 (2) Date of valuation

Our local governments do not update the assessment value every year, they usually update it every 5 to 10 years' time. In the case of Johor, some of our assessment values were actually valued over 10 years' ago. Yes, believe it or not, the assessment value you have just shown to me is already 10 years old!

Therefore, please stop going to estate agents and tell them your property is actually worth higher than the current market value simply because your Assessment (Cukai Pintu) says so. One interesting observation here however, they never show you their assessment when the indicated value is lower than the current market value, due to the reason best known to them. 

Last update: 21-03-2009 00:41
User comments Quote this article in website Favoured Print Send to friend Save this to del.icio.us Read more...

PDF
 
How do you calculate rate of return on property?

By Lim Boon Ping, on 18-03-2009 12:44

Views : 4245    

Favoured : 134

Published in : Tips & Advices, Buy & Sell

By international standard, all property investors should be looking at minimum 6% yearly return when it comes to property investment. Here's how you calculate the rate of return:

Rate of return = Net Annual Rental / Price

Scenario 1. Double Storey Shop House at Taman Johor Jaya
Monthly Rental: RM2000
Price: RM400,000

Therefore,
Rate of return = (RM2000 x 12) / RM400,000
= 0.06 or 6%p.a. 

Remarks: Attractive investment. 

Scenario 2. 8th Floor Office Suite at City Plaza
Monthly Rental: RM4400
Price: RM600,000
Maintenance Fees (monthly): RM1900

Therefore, 
Rate of return = (RM4400 - RM1900) x 12 / RM600,000
= 0.05 or 5%p.a. 

Remarks: Less attractive investment. 

Let me share with you a rule of thumb i often use without having the hassle of going through the above calculation. 

Whenever you see the price, take off the last two digits, if the monthly net rental is at least half of this new figure, then rest assured, as you are getting minimum 6%. 

Take scenario 1 for example, the price is RM400,000, after taking out the last 2 digits will be RM4,000, and the monthly net rental is RM2000, which is exactly half of RM4,000, there you are, you have a rate of return of 6%p.a. Try it out with other numbers yourself and verify with the formulae given above using calculators to see if it works. 

I've provided you the above the simplest model on rate of return calculation, but please also note that rate of return is only ONE OF THE MANY FACTORSthat should taken into consideration when it comes to property investment. I shall share with you in near future on other factors affecting property invesment decision making process.

Last update: 18-03-2009 12:52
User comments Quote this article in website Favoured Print Send to friend Save this to del.icio.us Read more...

PDF
 
Is Iskandar Malaysia (formerly IDR) a MYTH or VISION?

By Lim Boon Ping, on 19-03-2009 01:50

Views : 5789    

Favoured : 151

Published in : Tips & Advices, General

I gave a talk on the topic matter pertaining to "Johor Property Market Outlook 2009" early January 2009. During the talk, I was surprised to find there are still many local Johorean who  knew very  little on Iskandar Malaysia (IM) and/or hardly have any interests in understanding what IM is all about. From what I've gathered so far, foreigners seem to be more "excited" with IM as compared to locals. I do not wish to elaborate too much on why this is happening, the fact is, there are simply too many white elephants running around in Johor Bahru city over the years.
 
This time round however, I stand to differ. To me, IM is a bold and yet tactful long term plan for Johor Bahru, i.e. to focus, enhance and improve the level of service industry in Johor Bahru. This is a very tactical approach as I dare to say Johor state has been doing  well so far in respect of industrial and agricultural sectors, should we want to go further and make our economy more well-rounded, service is the thing to go for. The same goes to many other foreign economies where the GDP percentage for service sector is ever increasing.
 
During the talk, one question was asked, " why does Johor State Government want to spending hefty sum of money to build new government buildings in Gelang Patah? Is there a need for it". First of all, I am in no position to answer this question. Secondly, this question to me is now irrelevant. The new Johor State Administrative Centre has already been completed and the state government departments are moving in  stages by stages starting early this year.  The question we all should be asking right now is "how can we play a role in Iskandar Malaysia?"
 
Especially during this challenging time, we should all get involve more with IM and explore our business opportunities with all the key players in IM, which my company has done so ever since its inception. We have already benefited  and we are very optimistic about it. When's your turn?

Last update: 19-03-2009 01:50
User comments Quote this article in website Favoured Print Send to friend Save this to del.icio.us Read more...

PDF
 
Is auction property always "cheap"?

By Lim Boon Ping, on 07-03-2009 02:02

Views : 6981    

Favoured : 157

Published in : Tips & Advices, Auction

Before auction, the bank will always engage a registered valuer to value the property as at Open Market Value (OMV) and also Forced Sale Value. As a rule of thumb and a rough guide, a Forced Sale value is normally 10% to 15% lower than OMV.

The first auction will normally start using the OMV as the reserve price, in other words, the auctioneer will first attempt to sell the property using open market value, if unsold, then only the price will start going down. In the case of Laca cases (i.e. properties without individual titles ), the reserve price is going down almost every month by approximately 5% to 10% from previous auction.

Low pricing is normally the major attract for auction properties, however, other issues such as condition of the property, previous owings and vacant possession should also be taken into consideration whenever you want to bid at the auction. Please also refer to my previous articles on Property Auction.

Last update: 07-03-2009 02:02
User comments Quote this article in website Favoured Print Send to friend Save this to del.icio.us Read more...

PDF
 
More Articles...
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  Next 
  •  End 
  • »
Page 1 of 4

Latest Listing

Useful Links

Mortgage Calculator

Loan amount:

(Use "." for Decimals)
Duration:
years
Interest rate:
%
Monthly repayments:
Ringgit Malaysia
Total to be re-paid:
Ringgit Malaysia
Help

Contact Us

Tiram Realty
Telephone number of Tiram Realty +(60)73558877
Lim Ah Leck
Telephone number of Lim Ah Leck +(60)16-7203399
Ann
Send a message via Yahoo to Ann ann_pslek@yahoo.com.sg
Send a message via Skype to Ann annlek
Telephone number of Ann +(60)12-7545494
Tan Soo Hia
Telephone number of Tan Soo Hia +(60)19-7798619
Boon Ping

Subscribe to Our Newsletter for FREE

Get Real Estate Tips and Listings Updates SENT to your email for FREE!

Enter your email address:

Delivered by FeedBurner

RSS Subscription

feed-image Feed Entries