Angkasa Apartments aka Apartmen Darau Angkasa in Menggatal is another project from Syarikat Perumahan Negara Berhad SPNB), a wholly owned subsidiary of the Minister Of Finance Incorporated (MOf Inc.). It is a joint development by SPNB ~ Kinsanuri ~ Bina Puri JV.

* 30% Reserved for Bumiputera with 5% discount * Loan margin approved up to 100%

It is located in Darau, Menggatal ~ about 5 minutes drive to 1 Borneo, the largest shopping mall in Sabah.

Image source : Twins Realty's Photos ~ http://www.facebook.com/photos.php?id=136871409665592

It consists of

A. 8 Storey Medium Cost Apartment
1. Floor size : 850 square feet (excluding the dry area)
2. Price from RM158,080.00
3. No. of units available : 1,280

B. 11 Storey Medium Cost Apartment
1. Floor size : 850 square feet (excluding the dry area)
2. Price from RM158,080.00
3. No. of units available : 1,280

Built up / Floor plan : 25' x 37' Click to show
(Source : SPNB website )

Just like in my earlier post ~ Putatan Platinum Apartments. The facilities available are quite similar i.e. Lift, Swimming pools, Recreation Club, Badminton court, Basketball court, 24 hours security, Children Playground, Mini Football field, Mini multipurpose hall, surau.

For more information, please contact  088 - 490 920 / 272 212 / 721 777

The following pictures were taken at the show unit during my visit there. Enjoy the pictures ...

You may want to read ...
Putatan Platinum Apartments
Bundusan Perdana Apartments

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The National House Buyers Association (HBA) has criticised the apparent collusion between some developers, valuers and banks for pushing up property prices to levels which it called “exorbitant” and said that stronger measures are needed to deter speculation.

This is a very good article about the current 'exorbitant' property prices in Malaysia. All credit goes to Lee Wei Lian (The Malaysian Insider). Happy reading!

‘Unholy alliances’ to blame for exorbitant property prices, says HBA
By Lee Wei Lian
May 04, 2011

The association recommended that the government implement stronger measures to deter speculation. — world-stay.com pic

KUALA LUMPUR, May 4 — The National House Buyers Association (HBA) has criticised the apparent collusion between some developers, valuers and banks for pushing up property prices to levels which it called “exorbitant” and said that stronger measures are needed to deter speculation.

HBA said in a statement that in addition to low interest rates and easy credit which had fuelled speculative activity, greed had taken over the market.

“A ‘unholy alliance’ exists between certain developers, valuers and banks,” said HBA.

“In an environment of hot demand, the banks work in cahoots with developers assisted by those wayward valuers. Our ‘teh tarik syndrome’ is also very relevant. When the price of condensed milk increases by 20 sen, the entire cost ‘teh tarik’ increases by 20 sen. Similarly, when the cost of construction increases by 20 per cent, the equivalent cost of housing increases.”

The association suggested that the government implement stronger measures to deter speculation as the 70 per cent loan-to-value ratio (LVR) mortgage cap introduced would be of limited effect.

“For those in the speculation business, the 20 per cent reduction in LVR will not really deter them,” said HBA.

It gave the example of a RM300,000 house, which would now require a 30 per cent downpayment, but this would be based on the subsequent progressive payments for a property under construction, after which the end-financing loan of 70 per cent kicks in.

“If he (the speculator) can flog the house off at a profit at this stage, he does not need to incur an additional sum to his housing loan,” HBA pointed out.

“Speculators or maybe ‘syndicates’ are also cash rich because of the roll-over system they are using. In other words, whatever profit they earned from the previous house, they put into the new house, thus the 30 per cent up-front is not a major deterrent factor. Those who buy en-bloc may feel the heat but when collaborating with their ‘friendly’ developers/ builders, terms and conditions may be ‘cushion off’.”

The association also called for the sliding scale Real Property Gains Tax (RPGT) rate to be reintroduced.

This would entail a one-time RPGT exemption after which the next two properties should be taxed starting at 30 per cent for properties disposed of within two years and a reduction to zero per cent for properties disposed after five years.

For third and subsequent properties, HBA is proposing that a 30 per cent flat rate RPGT would apply.

The association also proposed that a quota of low-medium and medium-cost houses priced between RM250,000 to RM550,000 be imposed on developers similar to the 30 per cent quota for low-cost houses.

“It has always been the Government’s aspiration for every citizen to have a roof over their head and the Government should continue to push this agenda,” said HBA.

The high prices of property in urban areas prompted the Najib administration to introduce a first-home ownership scheme in March in addition to the loan-to-value ratio cap in a bid to stave off discontent.

The measures pale in comparison, however, to efforts seen elsewhere in the region, such as China and Singapore.

The Chinese government last year introduced curbs on foreigners buying property and raised the minimum downpayment for first-time buyers to 30 per cent from 20 per cent and banks were ordered to suspend mortgages on third homes and above in some cases — in addition to hiking interest rates three times since October.

Singapore, meanwhile, raised stamp duty on new properties to as much as 16 per cent of the sale price to be paid by the seller if the house is offloaded within a year of purchase.

The amount that banks can lend for a second property has also been lowered to 60 per cent of the home’s value.

Source : The Malaysian Insider

Unduk Ngadau 2009 ~ Ms. Rowena

Photo source : http://blog.malaysia-asia.my/

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OC will be obtained soon! (advertisement caption as appeared in the local newspapers)

Located in the heart of Putatan township, about 9 kilometers from Kota Kinabalu City Centre ~ A walking distance to One (1) Place Mall (the township's first shopping mall), 2 hypermarkets, namely Servay and Giant, INTI College Sabah, banks and other commercial shoplots. Click here to see this area in Google Maps.

Putatan Platinum Apartments consists of 5 blocks of 12 storey apartments with condominium facilities. It is being developed by Syarikat Perumahan Negara Berhad (SPNB) and Kinsanuri Sdn. Bhd. Altogether it has 1,012 apartment units; Block A (220 units), B (220 units), C (220 units), D (220 units) & E (132 units).

With a built up / floor area of 850 square feet (excluding the yard / dry area), it comes with 3 bedrooms, 2 bathrooms, living & dining area, kitchen and a dry / yard area.

Price from RM158K to RM201K.
As usual 30% Reserved / 5% Discount for Bumiputera!

Facilities : Club House, Lift, Swimming pool, Gymnasium, Badminton / Tennis court, Covered parking / Basement Car Park, Children Playground, Jogging track, 24 hour security, Cable TV, etc.

As usual 30% Reserved / 5% Discount for Bumiputera!

For more info, call Advance Property Consultant at 014 - 679 0568


You may want to read my earlier post on Flat, Apartment and Condominium.

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