Properties in Malaysia are over-rated. People buy houses like they are going to live forever. 99 years leasehold, tak laku. They go for brand-names. In Penang, if the developer is one of the handful well-known ones, the properties will sell like hotcakes even if they build the properties on swampland, sewage grounds, graveyards etc. IJM lah, Sunway lah, sure sell.
I used to work in a large company with subsidiaries in properties development. We were the one who demolished the heritage building Metropole Hotel while the police were having their Christmas’s eve party some 8-10 years ago. And look what is going on with the place? It is still rotting. (We got off by paying a few thousand RM which was considered cheap.) Some gleaming hotel was supposed to be built but somehow, it failed to take off.
Therefore, I find it sad that our Penang Government in particular do not know how to appreciate old buildings. Since I no longer work there, I sometime do wish the State Governent will impose heavier penalties (like putting the CEO or someone higher in jail and castrate the person).
Old buildings are national treasures. I wish I am rich enough to buy one of those pre-war houses and restore them to its glory. Those old pre-war houses even have their own courtyard in the middle of the building. Excellent fengshui. And the number of rooms available can afford my atm to be like Ayah Pin.
I don’t know what I am ranting except that two of my neighbours in the SAME apartment block are drilling, knocking and messing up the whole blardy place because they are renovating their recently bought apartments. I hate it when someone renovates their apartment. The lifts are dirty, the corridor are messy and we have suspicious looking contractors hanging around. But we Malaysians seem to have nothing better to do than to pour in at least RM50-60K to renovate a place and then, all these monies will disappear in another round of knocking, drilling, etc.
Moral of the story – Do not spend too much on renovation. When you sell the place, you can’t cover the renovation costs. Take it from me, I si beh kiam siap and always profit whenever I sell properties.
Oh ya – Free promo for Simon. He has a blog call Property Malaysia. If you want tips on what to buy or how to withdraw EPF to buy that dream home, just go over there. But if you want to know how to make sure every properties your husband buy has your name on it, then come to me.
try think of it. they just want to show they have more money then u la.
maybe you should open a soya milk stall and sell to the contractors workers at 10am and 3pm! good money than adsense!
Hi Lilian
This is off topic,, Thought i would share with you ,i had a dream this morning you and i were shopping n drinking coffee hehe .I must say i have never flown outta Oz and after reading about the mishap with Malaysian Airlines now thats creepy.Heres the url if you wanna take a look http://www.smh.com.au/news/national/panic-and-prayers-as-perth-flight-plunges/2005/08/02/1122748616742.html
cheerz tcz
really…a sad state for those old buildings…
all over malaysia…those buildings are not taken care off… only a handful is in good condition…
hope that the gov will realize it earlier…else we will end up like singapore…where their herritage are left only in chinatown, and little india…
but i guessed…we malaysia…still has much to learn from those europeans who cherished those old low rise buildings rather than those gleaming glass skyscrappers.
Awww, i detest seeing old buildings being demolished to make way for new ones. I turned down a project once when the new owner of a demolished building came to me. I ran an interior design firm before i gave all that up to be a fulltime mom. Though the revenue is good, but really sakit kepala lah as I do turnkey projects. Real glad those days are over. Now can stay home all day watching my son grow up. More rewarding mah.
Ai yo renovate if got RM if no RM ow to renovate.I renovate bit by bit when I can afford.Home is a place where my heart is.
but really, why is it all up to the government?
q – All these old buildings are located at prime location. So these businessmen will have no qualms bulldozing the building to make way for skyscrappers with millions of RM profit. In Penang, the State Gov. has gazzetted some buildings as heritage buildings and no one is to touch them. But on the other hand, it is costly for the owner to maintain the buildings.
thquah – Some people do spend a LOT of money to renovate. I also did renovations so that the place is bearable to live but not too elaborate lor.
Samm – Yeah, we did not see the charm of our old buildings. Too bad.
zbjernak – I know what you mean. I had been to Florence and the place is really old. So, is Paris and all the other places in Italy. Right down to medieval times plumbing. Hahaha. It is nice for the eyes but seriously, not very comfortable to live though.
Sweetspirits – Probably our souls met in the dreams? Our newspapers played the thing down. So, I wasn’t aware till I read blogs. Hope you have sweeter dreams tonite.
Simon – Yahor, yahor, good idea.
kasba – I memang jeles la.
Metropole hotel! Metropole Hotel! they demolished it….NOOOOOOOOO!!!!!!!!!! Do u know that when i was about six or seven we were living in KL but my grand mother was is Penang,. So whenever, we came to see my grandmother, we always stay at Metropole Hotel. I remembered that the hotel has a fountain in front of its lawn..am i right…
A moment of silence pls for the death of this nostalgic hotel..