Hi,

Do you guys buy any proprety in penang ?

1. The Oasis Condominium
2. Vista Gambier
3. D' Piazza Condominium
4. Palm Palladium
5. I-Regency Condominium
6. Regency Heights
7. Bayswater Condominium
8. Platino Luxury Condo
9. Desa Airmas
10. etc ..

which apartment/condo do u think is the worth to buy ... which provide nice enviroment, car park, space, security and etc ...
How do u think the price now ? Does it reach its peak or do u think it will still going up ?
when do u expect the proprety price go down or will it go down ?
which price range of proprety do u think u will buy or invest ?
if you are 'makan kuli' ppl, how long only u will buy a proprety after start ur 1st work ? 2 years ? 3 years ? > 4 years ?

Will US 'recession sign' affect proprety in penang ?

Please share with ur your experince/opinions regarding when do u think is the suitable time to buy proprety or invest in proprety ?

Thanks

Hi Inspiration, first of all, you have posted this in the wrong section.
But don't worry, the mods will move it for you.

As for the questions, I believe The Oasis should be one of the luxurious condo there in Penang. It has attracted a lot of interests lately as seen on news. So basically, I think most of them have priced in the highest possible margin for the moment.
As for the environment, as you have been in Penang, the road system is not that good there. Until the new PORR is built, I think buying condos in the metro area is not such a good idea now.
Maybe you should consider condos which are going to be covered by the proposed PORR, because of less congestion and noise.
These includes those around the edge of the island.
Anyhow, do lots of consideration and research before buying

I am noob for the proprety, what should i need to know before invest in proprety ?

maybe u should study the graph of a property that u wanna survey..
see the potential of it and try to have some small chat with the surrounding people..

Invest mean you expect return in term of profit in the future ? If you want to do so, i would recommend you to buy landed property like semi-D type. Invest in apartment won't give you a good return. It is very rare except for Bayswater but the price already up to 400k++ and i don't think you should buy it now.

For investment in PG, get something LANDED.

Good condos in PG are at least half a million & above.

@scorgio,
And that's because the Built Up is large!

tinkerbel, u also interested in pg's property?

Penang Times Square, ever consider that? That is the next big thing!

From what i heard, that area is going to become the 2nd bukit bintang with all the surrounding area in consideration by developer to be rebuilt.

oh ya, the monorail will stop right in front of the PTS.
my 2cents

In theory might be, practically, jury still out there. Monorail is just in the plan, when to execute the plan, nobody knows.
Just like the PORR, had been there for over decade, still not yet finalise the contractors and works.

Thanks for all the suggestions .. but property is really a costly asset if would like to invest in it. i am just start working for 3 years. don't have so much capital for landed property in Penang btw, could anyone please share your opinions or experience on when you start invest in property ? This might be a good guidance for new ppl like me

Some of the condos you compare is of different class. Some of them are worth 500k-700k and above. It's pointless comparing them when the price difference is so big between them. you should try to group them by price range in 50K increment.

Large built-up + good location + good management/planning = good demand.

That sums up the whole property market in Penang.

The expensive ones (landed RM 1-3mil, condo RM500k & above) are selling like hot cakes.

Middle range - Sales so so only.

Lower range - Hardly see any developer doing.

totally agree!

can't really afford a landed house in penang for 'gu li' like me.

Is it a good idea to go further far (rg. balik pulau, simpang empat etc.)?

Actually if you don't have cash on hand, you shouldn't call buying property an investment.

Investment only when you have an existing place to live, and have extra money to spend then you invest.

If you are buying the 1st house for yourself, don;t think of it as investment.

If you don;t buy one now, stop saving money, cos you will not save enough to buy one 3 years down the road. Penang property are going up like crazy.

Buy one you like and be happy about it.

my 2 cents.

dear all,
buying property for own stay is not considered investment bcoz it is giving negative cash flow.

As a Penangite, I would personally advise to find somewhere near Greenlane, Gelugor and Batu Maung...

Why Greenlane and Gelugor? it can be said as the mid between town area and airport and it's very near to the bridge, so it is very convenient.

Why Batu Maung? No need to say anymore right? it is of coz because of the 2nd bridge of penang...

However i personally like Greenlane and Gelugor Area as it is very peaceful and safe place to live in, not crime prone area.. and lots of hills and nearby the sea as well, so it wont be very hot..

Well, if u are rich and going for high investment, then u minght wanna take the risk and try out Batu Ferringhi ot Tanjung Bungah area as the property there is very expensive and locals wont be a ble to afford renting or buying, your targets are FOREIGNERS..

and don invest in property too close to the PORR, it is not advisable for investment...

Cheers

~Young

anyone got the map where is PORR ?

If u have any developer fren, ask them..they should know.. or u can Check it i think KOMTAR Penang..

i tried to search online for PORR previously but cannot find any details...

anyone willing to consider landed property at mainland?

i think Autocity Bayu Mutiara housing area is quite a good deal bcoz the area is upcoming lor...

since talking about penang property , any comment on the E&O project in Tanjung Bungah ? Do you think it is a good investment to buy landed properties there ?

Green Lane = Traffic Jam especially during rush hours.

Imagine that is the lane where incoming and outgoing will have to pass.

I will not put my money there.

E&O project in Tanjung Bungah, i advise not to..coz i was at the launching ceromony whihc i was invited to prepare chinese tea for the guests, but i already saw many cracks on the floor, coz that is reclaim land.. and they jus continue to build be the land is stable..u know wat i mean, which is reclaim land need to be left there for more than 1 year to stabilise, while E&O jus continue to build after he land was reclaimed..

and bout Greenlane, yes there are jams, but if u know the path to use, then the jam wouldn't be a matter anymore, many locals (malaysians) will consider greenlane if they r moving to penang, coz its quiet reasonable and convenient, it's not like ferringhi or tanjung bungah, they might be good place to stay and very near to prime supermarket such as GURNEY, but it's not convenient and the jam is worst than greenlane..really cannot move..

Greenlane's jam is caused by bottle necks and traffic lights, so it will clear of fast..i am a free lance broker for land and properties, and many have came to me and ask bout greenlane, that's a very strategic place, u see, even IJM wanna develope opposite TESCO...and where's there? greenlane and gelugor area..

For the PORR, of coz the info r not available online, tat's y i recommend u guys to look for developer fren, coz some company r quite aggresive or close to government sector, they would have the info about PORR...

I'm actually pushing a land, in the heart of penang town, its a herritage area, but the building is formerly a disco place (clubbing), and it stands at ard 1 acre, max height is 5 storeys to 6, depending on the structure designed (18 feet) - limitation for sturture design info obtain from council, i would be a good location to set up low cost hotels as it is only walking distance to prangin mall and KOMTAR where the main bus hub is located and can move ard penang easily even tesco, queensbay or so... can any one gimme more suggestion of wat to do with the land?

How do you think about penang property price recently? Does it have sense going down ?

Not exactly.
Yes, it jams, but it's still flowing.
Cos when the light turns green, all of them are green ranging fr 90 sec to 120 sec.
But there're 2 bottlenecks, 1 at Turf Club junction, 1 in front of McD Greenlane.
Speaking fr experience, among Gelugor, Greenlane & Tanjung Bungah. Greenlane's position is most strategic.
Some of you might not be aware, from Greenlane Caltex to Komtar via Dato Kramat, the distance is just 4.5km.

Was seriously thinking of buying my first house there.
Near to my parents places and near to Penang Bridge.

Platino Luxury Condo is the one near tesco? any idea how much will it cost?

i have the same question playing around my mind recently...the thing is..no one can tell you for sure on this...hehe...

i'm thinking of getting an apartment and then rent out...but have to consider properly first...
preferably sg. ara and greenlane area....so easier to rent out...

balik pulau house...not sure worth to buy or not...bcoz i read at newspaper lim kok wing setting out an institute over there...means in future...got potential can rent out...

If you can find land in Balik Pulau, even if it's a hill or slope, BUY IT!!

May I know why ... other than LimKokWing setting up a branch there?

Don't ask.
But that's specifically what I would do if I can find land there still reasonably priced.

haha...scorgio bro, at least explain a bit ma...i know lim kok wing's institute got plans to build up the campus there...that's the only reason lor i think worth buying....

as a place to stay...i'm not too sure...

Do you think Penang Island will grow bigger?

Penang is no land can still reclaim like Sg.. no prob.. one day will be land to Pulau Jerjak.. even around the bridge is land..

Landed property in Penang island is costing us our arms and legs.
Due to limited lands, you can definitely start to invest in mainland.

I foresee that mainland or Kulim is the next big things in 8-10 years.

i would said Sungai petani is next big things in next few years times instead of kulim, a lot of big company is going to set up new branch in SP

i sold my double storey leasehold house in penang for RM410K....i made it yeah...it was last year

Don't buy anything which is on reclaimed land, slope. Reclaimed land is not stable, especially if they dump rubbish. One thing to keep in mind recently -

earthquakes. Reclaimed land in penang is not as stable as you think - earthquakes makes it even worse. Now the volcano belt in indonesia is going active again, you might not want to invest there if you do not want cracks appear in your walls.

This ofcourse depends on how they reclaim it. 5th Street and 7th Street (forgot the name of the area) was a reclaimed land for over 30 years. It actually sunk and recent earthquakes made the situation even worse. I dont have source about this, I think you should ask and research about land reclaimation houses before you buy one.

are you talking crap on my hometown?

seriously don't. That contractor for this project told me the Developer wanted them to rush the project and the land was never given time to stabilise. It might be sinking as we speak. Just like what is happening in many areas in BM and it's vicinity


You have to see who were the contractors. Not every contractor simply throw rubbish.


ur hometown where ah? penang many contractor really chinchai do the job 1

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Added on March 10, 2008, 7:49 pm
Do you mean the IJM projects? Most transactions are going around 600-800k

Find your property investment here

Penang Apartments & Condos

If it's that simple.

Why didn't Hong Kong & Japan do it?

how about those in QB area leh? Gold Coast, D'residence, BayStar, the semi D there (forgot called what name).

I just looked at platino...smallest unit is type J 1000 square feet and the cheapest price is RM 718k based on the press release...so that means a 1000 sq ft unit for rm 718k?

I'm interested to get this http://www.tambunindah.com/property.aspx?pid=40

Any comments about the locations and developers? I want to get landed in island but the cheapest i get is RM300k at Balik Pulau

There are few more concerns.

1) How to calculate legal fees, S&P fees, stamping fees etc? From the developer side, seems like the S&P fees is free.
2) Possible to add renovation cost into the bank loan?

For RM718k, I'd rather buy a terrace hse or semi-D around Green Lane area.

platino is IJM project at e-gate there right? the price i think is correct

Yeah..platino is at e-gate.

the landed house in balik pulau...come together wif the orchard and durian tree rite .

SnP legal fees may be free from dev. side...but from what i heard if got problem might be hard for u to fight because the lawyer will defnitely side to the dev's side. can anyone give more advice on this?

you can always use ur own lawyer right?

yah can use own lawyer, but have to pay more $$$ ma....

if you know someone, i think that someone will charge you a reasonable price. At least, you know that your friend won't actually cheat you should he know something is not right with the agreement