What is the rental demand like for apartment in Taman Sri Nibong?

Juru Height's location not so good, alot of chicken farm there...

now juz left those farm at the end of the rd..
the rest already bought over by various developers for future development..
now the concern is light-industrial, whether will it leads to increase in foreign workers..
& the access from simpang-ampat (instead of juz using entrance of auto juru)..

any bros here have list of upcoming projects in 2009? looking to invest. thanks.

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Added on January 21, 2009, 9:36 pmso slow in penang?

This post has been edited by shakiraa: Jan 21 2009, 09:36 PM

Last week i just went to the Juru Heights , the sales person said still hav 8 units 2 storey terrace available. He also said got 10k discount for those units. The design is quit nice. I like it

How about the 3 storey house there?

Going well as well
if i am not mistaken left handful of unit left.

Taman Jubilee Phase5 selling for quite high price oso..

any real estate penang here? been looking for shop houses in love lane, chulia street or penang road for rent.
can u pm the renting there right now?

hi,

i'm not from penang but recently i'm taking a measured interest at landed properties in penang island.. i guessed i was a bit surprised to find out they're priced very high.. rm350/sqf and above..

it must be very difficult for newer generation of youngster (or new families) to take up a rm750k(~2000sqf) landed hse..

there're a few areas i'm watching with interest.. selectively, the northeastern region of the island (tg bungah, tg tokong, p.tikus and greater georgetown areas.. till tmn. scotland perhaps). any idea on the assessment charges for these mentioned areas?

one thing i noticed was.. there're quite a number of 3-stories terrace. is that a trend in penang island? some of them have a 20-foot wide facade but a large built-up because of the 3rd floor..

i also noticed that even at slight remote places such as balik pulau.. prices have reached the rm400k region for a 2-storey terrace.. such prices are really on par with favorable places in klang valley!

i know this sounds silly.. i don't think i will want to plonk down money on current asking price, but perhaps a 30-40% off.. (i know, it'll take a crisis to take such a dunk) do you think it's possible?

meanwhile.. i'll just wait quietly. oh, this forward acquisition is not intended as an investment.

This post has been edited by lwb: Jul 7 2009, 05:20 PM

Penang land is scarce in the first place, you won't get 30-40% price plunge without bubbling in the first place aka only shoot too high only got chance to plunge down that degree of amount.

As long as we are not having economy disaster, sorry to say, it won't happen. It is near impossible due to limited land, and inflationary problem.

But for Balik Pulau, it could been overpriced a bit already.

i have trust in crisis pricing because i've personally experience and profit from it.. (am aware that it's selfish to wish for one.. because it's a real loss to a real person)..

unfortunately.. being realistic, it tells me that one would need an income in excess of rm10k/mth to close a 90-10 deal (and that's at given low rate of 3.55% annum).. that would put alot of mere ordinary locals "out of reach"..

the rise of prices in the island has been tremendous for the past 2 years.. it's on par with equity returns(double digits). how do you quantify a bubble then? let's look at the support..

i'm not familiar with the markets there.. i only read that there's about a third(30%) of foreign purchases involved.. is it a catalyst effect?

i know this can be a little overfetched.. a third of the island has been developed, but there're tracks of hilly land at the north and northeast region of the island still untouched.. i'm not familiar with the right ratio of what determines a sustainable development is.. (or perhaps it's very costly to dynamite the coastal hill from tg.bungah to batu feringgi for development as well?.. or this is just wishful thinking?)

This post has been edited by lwb: Jul 7 2009, 05:38 PM

It might be out of reach of ordinary working class, but Penang state is not short of people with earning more than 10K per month, a lot of Kopitiam owner and hawker (fairly famous one) and lot of small businesmen are earning much more than that.

So you have a lot of potential demand while supply is rather limited.

Yup, a lot of high end properties are well sort after by foreigners as investment. As comparison to some oversea counter part, properties price is cheap here and exchange rate is favourable to foreigners as well.

Those hilly area need more cost to develop eventually the price of the properties won't come cheap. So you lack of supply of cheaper alternative properties around in Penang except some location which is well known for low cost building, flat or apartment. For strategic and landed houses, there is little cheap properties around in Penang.

It is all about supply and demand factor.

If really want cheaper alternative, across the sea, Butterworth, Bkawan, B.Tengah, then you will find lot of cheaper alternative same properties, mostly landed one. A lot of working class is actually live across the sea now as properties in island is too expensive to have one.
You can see the contrast difference of properties pricing between the island and mainland.

If inflation is always a threat, properties price won't be collapsing. As do remember, Malaysian are well known for their high saving rate, if inflation is a threat, people would rather hold on the properties as it is the one asset class that people can offset the inflation instead saving in the bank.

thanks for your thoughts. i guess, it's going to be an uphill hurdle should i consider to retire in penang island?

life is much simpler, until it's complicated by money..

"dull" sounds like a good place.. retirement is not about excitement and being in a happening place..

catching the sea breeze and watching the sun rises over the sea are both something calming and inspirational..

maybe you would be eager to swap places with me.. i live within 10km of a few major shopping malls (mid valley, 1u, pyramid, etc)

hi guys,
what u u guys think of platino luxury condo ? new unit asking from 7XXk--1m+. it's already increase by IJM from soft launch 6XXk.
rumour said that end of year will release the bumi units at lower price...anyone know?

buy now or wait price drop.... dilemma

From a laymen perspective it seems price is not likely to drop unless there is a plunge in US market. At this moment things look like going uphill, and SP Setia says they are going to end the 5/95 package by 17 of July.

For the luxurious condo, are you buying for own stay or for investment? If you're buying for own stay for longer term (say planning to sell off > 5 years later) I will suggest get a landed property given penang island land is limited (well, there are still plenty of land if you ask me but the price is still going up 5-10% YoY basis, and the reason given always the same -- land is getting lesser). Per my observation, it seems high rise property will hit the ceiling after 5 years; in contrast, landed seems like no real ceiling... In additional, I heard people are paying RM600 per month for Bayswater maintenance fee; so how much Platino going to be?

This post has been edited by Interrupt: Jul 12 2009, 09:31 PM

hi Interrupt,
im now stay at semi-d, but it makes me feel unsafe. actually i prefer the envirolment,safety of those luxury condo so considering to get one for own stay. if don't like it after project done, can always rent out at reasonable price .

if rent, think can get >rm3500 full furnished to cover the installment since bayswater already rent at >rm3000. if landed property like my current house only can rent for rm1500.

platino maintenance is around rm0.20 per sqft. so if 2000sqft = rm400. how come bayswater cost rm600 with smaller size?

last year i've been told the price will drop at mid 2009. but now i still didn't see significant price drop of condo like No.1 persiaran gurney, gurney beach... now there's rumour said it'll be drop at end of this year or next year...sigh.

p/s: if rent, maintenance fee pay by tenant or owner? never rent b4...

This post has been edited by genkis3: Jul 12 2009, 10:49 PM

The maintenance fee is to be paid by the owner, same to the quit rent.

I can understand your concern over landed security. I'm staying in condo too (not luxurious, mid end one), yet my house got broke in last year. I am currently renting, and there is no alarm system provided. It's quite sad to say so but I think nowadays good grilling/anti theft roof + alarm system is required for landed. One have to turn their house to mini-jail to secure the family. Alternatively maybe you can consider gated or guarded landed property like those from SP Setia or Mahsing?

Usually the maintenance fee tends to be lower when just started to attract customer, after some time they will re-adjust the maintenance fee and this is a norm already. So maybe it's good for you to find out more about Bayswater maintenance fee and make assumption that Platino will be 20% higher than that in actual fact. Sorry i do not know more details for the maintenance fee for Bayswater, I just heard someone mentioned that the maintenance fee just increased to 600.

hi,
i guess you guys aren't familiar with maintenance fee charged by higher end condos..

rm0.20/sqf is considered very cheap.. if compared to kuala lumpur. that's considered the lower end of the monthly fee spectrum.. and can go up beyond rm0.60/sqf for some.

there're also other components that may incorporate into the monthly fee(not just maintenance per se).. some have sinking fund, amortized within.. thus adding up the so called monthly "maintenance fee"

for bayswater.. it looks like a reasonable range of rm0.30 - 0.50/sqf.

the other thing that you guys brought up about security.. living in a condo does not guarantee you total safety. there have been many incident of 'insider job' at alot of apartment/condo (of varying price range)

unless you have cctv on every public area/hallway at every floor.. you may never know that the thief is your very neighbor. there was a common suspect that it's done by syndicates.. moving from one condo to the other.. so the break-ins comes and go in 'cycles'.. appear and disappear.

interrupt.. prices of all asset(property included) don't always go up y.o.y. this is the greatest fallacy that i come across for people who're new to investment.