Thursday, 24 September 2015

Bennington Residence, Setapak

Yet another "stumbled upon" development last weekend after going to the morning market & breakfast.

Went in to have a look and spent quite a lot of time there because it seemed like quite an interesting project.

Executive summary (tl:dr version upfront) - I reckon it is a Good Deal. BUY for own stay, it will be a nice place to live. Buy to flip also can. Rental may be so-so, this place looks like it will be an owner-occupied type of condo.

So here are the reasons why I quite like it:

  1. Price wise - not bad, works out to be about RM600 per square foot
  2. Option of a dual key unit AND if you want, you can convert it to a single with more combined square footage
  3. Huge sports centre as part of the deal for the land - the developer has to build it for DBKL, so there is that whole "healthy lifestyle" thing going for it
  4. Facilities are extensive - sales lady kept going on and on about it, I was like, yeah yeah - we've lived in fairly high end condos before back in the days when condos were a new thing and even back then, after a while, you won't use the pool and stuff that much.
  5. Location - very near town and surrounding area is fairly low density without any risk of some new tower suddenly popping up later and causing congestion (heh heh, this project is the cause of congestion for the original residents, sorry to say)
  6. Fairly nice, clean design
  7. In future, comes with a mall (they say want to replicate Publika wor.. erm, this is Setapak la my dear) and a hotel (ambivalent about that because ... erm this is Setapak)

Is there anything bad about this? 

  • Mmm.. leasehold but this is DBKL land, and being where it is, I doubt they'd take it back! LOL it would cost too much later.
  • Congested because the road is Jalan Pahang - despite it being widened until cannot widen anymore, the people around that area with their unchanged mentality still park at the side of the main road and cause jams. Also, being an artery road, it is just heavy with traffic all the time because it attracts new developments around it. Good and bad lar - good for having facilities & lots of shops / F&B choices due to the density but you have to deal with congestion .. comes with the territory.
Here are a scan .. sorry, need to tilt your head :)

Thursday, 17 September 2015

Have angry Malaysians shot themselves in the foot?

Over the past few years, with the rapid spread of social media in Malaysia - there has been an exuberance of opinions especially from the chattering classes.

The freedom of expression offered by blogs, Facebook, Twitter and so on was seized upon with glee by Malaysians who have long felt that the officially sanctioned opinion was the only voice of the media.

Therefore, the democratization of opinion grew at an unprecedented pace.

However, such freedom also comes at a price. Most people are sadly unable to discern critically which information is true, false, partly both and how significant it may be.

At a benign stage, it is merely stuff like urban myths and hoaxes but it can quickly turn malignant if irresponsible people and groups purposely create pictures and articles as propaganda. Sometimes it is organised and sometimes, it can be just a loner trying to get some attention - the validation comes from the number of likes and shares on social media.

Unfortunately, as this maelstorm of information continues unabated, the easy option is to fall back on preconceived prejudices and emotions as the lens with which to view such articles and whatnot.

To that end, Malaysians (being one of the most active Facebook population in the world, apparently) have taken to disparaging everything about our country - I sometimes think it has more to do with their own frustrations because I can't seem to see any kind of critical thinking in their comments - thus would tend to discount their opinions as basically valueless.

The upshot of all this is that the majority buys into this negative thinking and ultimately, we are sucked into a vortex of lost confidence in the economy, governance and civil service.

If this continues, we will be the architect of our own destruction.

Wednesday, 16 September 2015

Government program for 1st time home buyers below 40yo and earning below 10k per month

As part of a "mini" budget - the Government will fund a 24-month mortgage subsidy of RM200 per month (RM4,800 in total) for young couples in their first home.

The program is managed through Bank Simpanan Nasional.

Married couples must be below 40 years old and have a household income below 10k per month.

The allocation is for 200,000 couples - works out to be almost a billion to be disbursed over 2 years.

To me - this is a good bottoms-up pump priming of the economy because it is directly funding discretionary spend that keeps money moving, thus creating wealth.

The only problem is that it can create somewhat of a subsidy mentality but with a relative short period of 2 years, it may not be so bad.

It would definitely mean a lot for the lower income group because it is an extra RM200 in their pocket a month - imagine, if their household income is 3k a month, that's a 6.7% increase in cash to spend.