28 Sep 2007 | Comments |
investment |
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Are Penang Real Properties too hot?
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I just read a news about Henry Butcher Malaysia had tied up with Malaysian Airline System Bhd (MAS) to promote Penang real estate under the Malaysia Stopover Property Investment cum Second Home (PI2H) holiday package.
The project is going to bring more foreigners to Penang state, and hope to get some of them to buy a few pieces of Penang properties. There are also some retirees from other developed countries such as Japan prefer to spend the rest of their retirement lives in Penang. If you know Penang well, it is really a good place to live.
I can get to a beach in 5 minutes drive. I can do hill climbing exercise in 10 minutes drive. I can walk 10 minutes to reach an Olympic-sized public swimming pool. I can do some great shopping in the biggest mall in Northern Malaysia within 5 minutes drive. All those very tasty food in Penang are really cheap… if you compare it to Kuala Lumpur and Johor Bahru.
But the one thing I need to complain about is the expensive landed properties. I just heard that a double-storey terrace house was sold at RM520,000, which is situated at Batu Maung (not prime area).
Do you think the real estates market here is demand over supply? The highly price property market is a good news for investors (who got lots of money), but really not so encouraging for those who are yet to own a piece of Penang ’s land.
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