Genting Rooms Occupancy Rate Estimation

Background

I invested one unit in a condominium at Genting which is Windmills Upon Hill.

I would like to estimate what would be the occupancy rate in Genting knowing that there are lots of hotels room available and few condominiums under construction such as Vista Residences, Midhills and Geo 38.

To estimate I need 2 major information
1) Number of visitors who going to stay at Genting
2) Number of rooms available either from hotels and short rental rooms like AirBnb or homestay.

From those 2 information, I calculated the occupancy rate for all rooms available at Genting.

1) Number of visitors who going to stay at Genting

To estimate number of staying visitors, few assumptions need to be made

1.1) Percentage of visitors who going to stay
1.2) How many visitors will stay together. Example family of 4 will stay in one room. They won’t stay in 4 rooms.
1.3) How many nights they going to stay

Then from there, I calculated the numbers of rooms required in a year.

To ensure that I have a baseline for the expected number of staying visitors, I took Year 2013 figure as I assume it is the actual visitors for the year but I use number of rooms as if all condominiums are all available to be rented out. While Year 2017, 2018, 2019 and Year 2020 are based on forecast number of visitors.

I calculated numbers of staying visitors based on the forecast figures to estimate whether the forecast staying figures can increase or not occupancy rate.

2) Number of Rooms Available

For number of rooms available I made few assumptions
2.1) All rooms or units will have capacity as same number of visitors stay together (refer to 1.2)
2.2) Only 60% of condominium units available will be rented out
2.3) Some missing number of rooms considered negligible.

So total of numbers of rooms available for short term renting are: 11,419.

Occupancy Rate

I calculated occupancy rate by dividing number of staying visitors by total rooms available. I distributed it equally through out the year. I don’t consider the peak and non peak seasons as it is hard to come out the estimation.

Based on 40% visitors will stay on average one night and with 3 visitors staying together, the occupancy rate produced as below.

If based on actual figures in Year 2013 and assuming all condominiums are all ready the occupancy rate is 61%.

If Genting able to attract 30M visitors by 2020, the occupancy rate would reach 96%.

Of course this assume that all units/rooms are equal in features. We all know that most visitors prefer going to First World hotel, hence high occupancy of the said hotel.

Control Figures

TODO section, to check occupany rate from AirBnB of Midhills and other completed condo

Reference:

Excel file to do the estimation

Malaysia Property Trend 2018 – 2020?

House price increase 5.3% if compare to last year which increase less than 1%

Market not good, now even good reputation developer starts to owe money to the property agent company RM500k below house still got little demand but rm500k house sales not moving, bungalow even worse, no sales record made since early of year till now.

Property market gets stagnant till the developers find the property agency to help and sell off the houses

Those houses project comes with GRR also being called off

Lots of developers give better offers to attract buyers to buy house when the houses are about to ready, this wont happen normally.

As agent, before this we focus on subsale, now many cant pay for downpayment, so they would opt for new project
Buy new house can save lots of money.

Many companies go bankrupt, some houses just get key also kena lelong
The DIBS project buyers normally are investors, not buying for own stay, may cause resale

Now developers and house owners berebut the market so the house couldnt sell off

I just done one sale, buyer bought the house at 480k and now tahan sakit sell off at rm380k. Rental also not so good market. Price drop from rm1900 to rm1300, now got lots of empty houses couldnt rent out

Before this market is very good, so the house owner berlagak
Now things change, bank needs to evaluate the house higher value then only ppl will buy

Now is the time for buyers take granted
The worst time hasnt come, later developers because want to survive, will give up even better offer to attract more buyers. The earlier buyers would pay hugher

After two to three years when the projects are ready, the resale of houses will get even worse
Rate of empty house is high

House owners are trapped in the war of fighting the price
Sales of property drop but property rental remains the same, just tat the rental price drops a lot esp in big city like KLCC, at its peak, 10k per month and now drop to rm6k, while some studios tat could rent at rm2k-3k now drop to less than rm2k. However rental price in outskirts area like cheras, sungai long drops lesser.

some investors don’t consider properly and thoroughly while buying the houses, they tot when the houses are ready then can rent out, and get 6% of profit, who knows the 6% of profits is not fixed profit as the houses are not guaranteed will get rent out

Try to thk and see, when a project is ready, there are thousand units, if 70% of it are investors, which mean there are 700 units waiting to rent out or for sales, this is really scary. This will lead to the war of fighting price, at tat point will see who has the holding power

He advises investors to calculate carefully before investing, or else it is very hard to earn money. Let say, u buy a unit at rm200k then do bank loan for 30years, every month pay for rm1000. First 5years installment, out of 85% are paying for the interest, not much pay for the principle, 6th year sell off at rm250k, u tot u earn rm50k? Deduct with the installment, legal fee, this fre thst fee, not every month got rental, house owners not earn but loss, the one earning is the bank, they earn for berapa puluh ribu

Many units kena lelong and it is very serious. I cant enclose the name but it is 100% fact. Developers sell at lowest peice, at ampang area, near a big east shopping mall, studio price is rm500k but not subsale price drops to rm400k. It was ready two years ago but the owners cant rent out so have to pay the interest, so they try to sell off hardly, whole project got 1600 units
Many lelong units now, price drops till rm400k also cant sell off. Not only ampang area but other area also same like bukit jalil

However some areas have good syarat just like blue chip share, everyone like it, even tho market not so good but the house price and rental price remain stable

Mont kiara doesn’t get affected by the poor market. This area got three popular international school, it is liked and prefered by local and foreigners, thu mont kiara rental is stable, unlike other area fluctuate largely

Many ppl tot that out of 10 units in mont kiara, 7 units are investors buy to rent but in fact it is not, 70% owner buy for own stay (mainly malaysia) while 30% for rent.

Mont kiara advantage is every project got its special, package is different, area size varies and age of property differs.
If u want to find studio, u have a wide range of choices from new house, area and design in which u cant get it in other area

Like KLCC, name is good but rental is so so only, all units not much different, look the same, many are small units. Dont assume that mont kiara is very expensive, u can still find rm400k units here, just that the building age is 20years.

Need to wait at least 10years for MRT to bring up the house price
Area near MRT are nearly sold out

Even tho property around MRT (pam) are very expensive, but keep money in bank will not increase its value. In other way, loss temporarily is okay, even if the price of pam cant rise shortly, but at least it can keep and remain the value, it is a not bad investment if you can rent out. In fact, pam is easier to rent out
He analyses, if pay bank rm2k, the rental is rm1.5k, if kena bayar extra rm500 is ok as money keep in bank lagi tidak bernilai. Thus, even pam is expensive but ppl still buy, if can rent out, it is an insurance for investors, as even poor market but pam still got demand.
However, another evaluator got different view because she thk tat developers ald calculate the benefits of pam in it, which mean buyers buy the house now at the future price
From investing angle, buy the house now at future price, the room of increments is slow. But if use the house at current price, it will follow market to increase

In fact, many units around mrt1 not only no incrase but drop
She thks mrt would definitely affect the house price but not in short term. Malaysia transportation system grows slowly, even now lrt and mrt are ready but the network and link are not complete and convenient yet, it just benefits the residents along the link

If want to wait till the system is complete and convenient, need to wait at least 10 years.

Take overseas as an example, to make the system complete and convenient, it takes around 20-30years at least. So if financial support tergendala,it would definitely affect to have a complete transportation network
She said lrt3 construction ald over the budget, to complete the project is a question

It is a negative cycle, if the transportation system is not complete, residents would not use it, adding up the maintenance fee which is not low, it would be burden for the gov

Now the market ald is ald at its lowest point, it needs two to three years to rebound. Expected 2018 economy will gets better because of the investment of China-TPPA etc

If TPPA is running as planned, malaysia vietnam and thailand will be the countries which get the most benefits bcz our labour cost is low and malaysia can speak English. But donald trump cancel the TPPA, so it hurts malaysia a lot

Foreign investment in malaysia will bring up the economy if depends on malaysia alone, the recovery would be slow

How i make complaint on – SINKING hole, Pipe Burst/ leakage

This hole appeared after heavy rain, at same day also heard few places in Shah Alam having a flash flood. We noticed there was like a sinking whole at our outside entrance to the porch.

Worried if its going to get worse .. I contacted MBSA to make a complaint. Immediately after few hours came the MBSA Penguatkuasa to do inspection since that day ada cases of flash flood and some landslide – the emergency team terus datang, masa tu rasa macam … wahhhh… efficient nya MBSA. But only a while je.. since my case not serious they submitted my complaint to Jurutera kawasan to do further inspection. IMPORTANT NOTE here is once you made complaint make sure you;

1: Take the customer service person name.

2: request for a complaint number.

3: Never accept without any complaint number coz once you hung up the call .. bye bye … its like you are calling for the first time when you want to follow up.

4: Do your follow up call.. never wait. In my case I didn’t. I just got mad to know that they closed case without even contacting me and reason being “there wasn’t any hole! … WTH!!!! (memang meletup lah terus buat new complaint .. mentioned segala nama and asked them not to give you new complaint number – refer old one or your make the complaint PUBLIC … sigh!)

5. Get the mobile number of the engineer and contractor.

6. Keep all the photos.

After 4 month baru dapat call dari MBSA contractor to telling me that they will repair soon- suspecting of drainage beam runtuh. Within a month baru la betul2 boleh datang repair. Haa..haaa … know what??? baru they all detected actually takde longkang pun bawah tu. They suspected its a pipe leakage / burst. Ohh.. why on earth need so much time to detect!!

Immediately I contacted SYABAS and logged my complaint… and SYABASSSSSS they did a great job. Their engineer came to inspect after 2 hours of my complaint. Then the contractor came later after 3 hours and they did the repairing job. Malam2 pun they did the efficient job… BRAVO!!

What i learnt here from SYABAS ;

Leakage before water meter are responsibility of SYABAS.
Leakage after water meter are responsibility of house owner.
you can know if it leaks after meter coz your monthly billing will shoot up.
You can easily log complaint through helpline number 15300

What i learnt from MBSA?? – haha… seperti Tips di atas.

My Advise: please exercise your right as the consumer! Jangan takut or malu because you pay for their service.

Adios!

Funny: Chats with Deef

When we back @ hometown and my 6 yo son met his 4 yo cousin;

Son : Papa, he is so naughty.. he throw sands at me! Should i be mad at him or should i discuss?

Dad : You discuss with him first .. advice him.

Son : hmmm … okay! Then should i discuss with his mother or i should mad at her?

Mom : Discuss my boy …

Funny: Chats with Deef

Conversations with my 6+ year olds son;

At the mall near the car showcase, and there was a few sales persons near us;

Son : Mama, i want to see inside of that car first…

Mom: Not now, i need to go to washroom.

Son : Oooo … u need go to wee wee or poo poo? (with loud voice)

Mom: hmmm … (while the sales persons cover their laugh)

in the toilet;

Son : i will wait outside near the door.

(while inside … my phone WA alert sound bells)

Son : Maaaa… why you play your iphone inside the toilet?

Mom : krikk …krikk….

3D2N at Genting Highlands

From 14 Jul 2017 to 16 Jul 2017

In no less than a week we went to Genting again…. reasons being;

shopping at Genting Premium Outlet (GPO)

We have cash redemption amounting of RM1,500 to finish up within a day. So we decided to purchase clothing for kids, some long-sleeve sports wear for husband and one luggage bag for end year Japan trip (much love)

view very nice and we can shop tanpa beratur dalam panas terik and sejuk sikit.

to attend this “Durian Food Fiesta”

Am not a Durian lover so tak berapa nak heran sangat … makan seulas dua already enough for me but not le husband.. he can eat berulas2. so i keep reminding him control sikit makan sebab banyak kolestrol .. (always heard people said it) … hehe baru nak google .. rupanya macam bawah ni, but still cant overly consume coz high in calories… daaa…

kids not a durian lovers

they provide kids creative sections so kids are occupied with activities while parents enjoying foods and sales person do their ‘convincing’ part

explore the localities and surrounding of Goh Tong area
explore other properties nearby of our ‘Newly Purchase Property’ – expect completion year 2019.

experiencing Genting as part of the weekend gateway routine

experiencing available stayed-places and its facilities.

How to handle the fighting siblings (kids)

Today back kids from school husband told me to look at my daughter face. From that moment i knew sure someone scratched her. Then i called her up which she refuses.. i guess she knew what am going to asked.

Actually not in my mind to scold anyone ~ just want to understand what had happened. Said to myself that i need to just relax, understand the situation, make the kids think and be frank in what ever they want to say.

My dotter said that she didn’t want to discuss about it while i make my stand that it’s not her choice to not discuss bout it. Deep in our heart we knew that she didn’t want us to get angry or scold anyone , either her or the brother.

Called maid to come and explain what happened earlier off … “diaorang bergaduh cik … berguling-guling. Saya datang tengok budak berdua ni sudah bergaduh” – okay end of her part. While her explaining this both kids just stand still (kecut perut agaknya)

The sister is the secrecy type and at best will try to avoid the brothers from getting scolded (proud thing about her). These are the point that i convinced her on why we need to discuss;

we need to understand what had happened between them both.
by telling we wouldn’t be barking at the wrong side.
whose wrong can be advise accordingly.
they can learn from the mistake and to avoid from repeating.

Akhirnya, them both bercerita .. and small issue pun. Kakak tegur adik and pinched him because using the bad word, then brother cannot take it scratched the sister back .. then berguling- guling.

Our advice to them;

if want to advise someone don’t used physical approach (cubit) just say it nicely. People will take it, but once you hurting anyone you will actually pushing them away.
respect the eldest.
don’t hurt each other.
to the maid .. please be alert to the kids.

and at the end … they say sorry .. hug and kiss each other.

Things run smoothly for us! .. wink wink (but need to remind kids from time to time)

Genting Highlands – weekend gateway!

Genting Highlands is one of the tourism products and attractions in Malaysia especially for the Malaysian and tourists from Singapore and other countries.

It is located in Bentong, Pahang ~ consider one of the nearest weekend gateway for KL and Selangor folks.

Attractions? (will only share places that i have been previously and still need to continue exploring)

Genting Theme Park (indoor and outdoor) – 1 day is not enough to explore all the games and rides. –RW Genting

Genting Highlands Premium Outlet – actually there are few other premium outlets existed before this one like Johor Premium Outlet (been here 2-3 times), Melaka Premium Outlet (been here once) and Mitsui Outlet in Sepang (never been). But the different between all this outlet is the climate aka temperature .. you don’t need to queue and tour around in a hot weather and it is hard to do shopping when you bringing kids and they will get cranky or moody if its hot. (shopping make easy). –GHPO

Stays?

to come here make sure no last minute booking.. sure full. One week booking before stay date also not recommended cos its fast selling and some sold out (left not much option). Here are the places that i have stayed before;

Awana Hotel, Genting –Awana

Last time we stayed if not mistaken the Family Suite which have 1 room and 1 hall + 2 rooms at upper floor. Cozy place but since we book hotel only for sleep and most of the time we are enjoying the theme park.. so i can say oklaahhh…

Trouble is only check in time ~ took us like forever to settle. Should check in at 3.00 pm but delays up till 4++pm and it just ruined our scheduled… sigh!

Hotel Seri Malaysia, Genting — Seri Malaysia

Been here twice – first because all hotels up there fully book and second because we wanna recce that Goh Tong area. So i can say the room is so so .. i had problem where the plug point are limited to TV and mini-fridge. The only plug point that should reserve to guest for Phone charging are spoil. When give suggestions to the staff to provide us the extension plug pun tak boleh solve … sigh lagi!

Colmar Tropicale – –Colmar

Nice place and view.. but jauh sikit kalau intention nak naik Genting! Masa pergi it was so cold and foggy and best thing that i can remember was their porridge.. thumbs up! 1-2 days is enough to explore its surroundings.

Ok thats all!

What HARI RAYA means to me?

HARI RAYA are celebrated every 1st of Syawal and its mark as the end of the Islamic Holy month of Ramadhan where that is the period of sober repentance for Muslims, with approximately 30 days of dawn-to-dusk fasting.

Hari Raya to me?

Forgiving Time

It is the time when members of the families sit together and ask for forgiveness for all the wrong doings. It starts from the youngest till the eldest. We normally will shake and kiss hand… sometimes hug each other. There are no grudge against each other as we forgive and forgiven. For young kids they wouldn’t understand but they will just follow and from there they will learn of respecting each other especially the eldest.

Family Gathers

‘Balik Kampung’ ~ common tag for this festive. Peoples from south to north ~ west to east. The craziness is about travelling from 8 hours to 12 hours to get to the “Kampung” which in normal day only took 5-6 hours instead.

This year we are being wise by taking aeroplane rather than driving. But the saddest part is that i bought last minute flight ticket which cost us around RM1,900 to Kota Bharu (2 adults and 3 kids).

It is really a meaningful moments which every old parent will eagerly wait for their son/daughters, menantu’s and the cucu cicit balik. Biarlah bersempit asalkan semua balik. Sometimes diorang sanggup sacrifice their room just to make sure all the cucu selesa. Alhamdulillah we still lucky coz our mom’s house have 5 rooms with airconds… (not to forget before balik bagi cash for the electricity bills and other expenses so we dont burden them).

Lesson learnt ~ plan your journey in advance! never last minute flight purchase cost price will surely increase if you get it like 6 months or earliest before your travel date.

Zakat & Donations

We share our wealth/ excess with less fortunate people through zakat, cash donation or from serving our guest with delicious foods and dishes.

“Duit raya” are also one of ways which we put some cash in angpau. Angpau will be distributed to families, kids, peoples that we are visiting and also kids that are coming to our houses which sometimes we don’t even know who they are.

Learnt to be more patience

More for my kids ~ teaching them to puasa. Give some encouragement and motivations. For myself i have to keep in mind that not easily get angry with them.

Foods fiesta

waaaa… this food thingy jangan cakapla, memang heaven. Since i seldom balik Kelantan there’s a lot of dishes that im craving for. So we decided why not we just shared among the siblings and cater the food for the week. Our mom tak penat and we can spend our valuable time each other rather than stuck in a kitchen. So here are the foodies that gain me in few Kg’s… huhhhh…

This only part of the foods. The rest like soto ayam, satay, rendang, ketupat, nasi lemak, nasi hujan panas even my mom delicious mee goreng tak sempat nak ambil gambar.. so tak dapat post.

Holidays

We also used this time to spent time with families and let kids explore few places at their grandmother hometown..

wish you all Selamat Hari Raya & Maaf Zahir Batin! 😉

Background

1) Number of visitors who going to stay at Genting

2) Number of Rooms Available

Occupancy Rate

Control Figures

changing process

walllaaa….. new cabinet!