[QUOTE]
QUOTE(maxwongsauwei @ Oct 25 2010, 03:46 PM)
dear sifus, currently am looking to buy a house for own staying, any recommendation?

budget from 200k - 300k..

yr kind input are appreciated.

Thanks




Hi Wong ,

You cant find 200-300k house to buy in Penang Island. Houses in Penang Island start from 500k onwards.But if you want to look for apartment/ condos , 200-300k is still able to find example Villa Emas , N-Park / E-Park .

Penang apartments are not that expensive as people think .

some expensive condo like putra place.... pls dont buy
its lease hold and after some 10 yrs ...price will drop

and it sinking and lots of crack

desa airmas sungai dua also avoid

its over priced 400k+ while bank valuation only rm300k
its also facing low cost flats which is the view of the condo entrance... so avoid

I want to buy property in Penang Island, do pm me if you have a nice appartment or condo to sell. 150k - 400k. pm me your contact if you have, i will call you up to deal with you. Thanks..

Any advice for a guy considering changing from condo to a landed property?
My current place is fetching good price, but landed also costing a lot.
But I'm afraid that in the long run, the price appreciation of landed will be more than my condo. Then it'll be harder for me to finance the upgrade.

The price appreciation of landed property will ALWAYS be more than high rise especially if they are on an ISLAND.
Last year 2010 sees a major appreciation for land in Penang Island. A piece of land along Jelutong Road just double up per square foot within 2 years!

But isn't the current price of landed properties unrealistically high?
I'm afraid of commiting to one only to have the value drop while I continue to service the high loan.

unrealistic oso got ppl buy wor...still transacted every minute..

How bout selling your current landed and to buy a newly launch landed property and wait for capital appeciation ?

People buying doesn't means its always a good thing. In fact, it's the non-stop buying that is causing the price to goes up so much.
I see that most buyers are speculators, just buy buy buy then hope to sell for a good return.
But even when there's more supply than demand, they keep on raising their price to cover for the loan interest.

Don't have landed property now.
Are you a RE agent? From Penang?
PM me if you are.

Bro, just in case you dun realised Penang is an island. On this island land is scarcity, beside building on hill slope, many developers are also reclaiming from the sea.
Advice you to visit the E&O development behind Island Plaza. View the houses there plus the new complex - Straits Quay. Do remember the whole area was once the sea. And to think, there are so many willing buyers for an area hit by December 26, 2004 Tsunami.

I've been to the E&O area... very nice place. Not for a salaryman like me. And I also think that many of the buyers there are not from Penang, or even Malaysia (I could be wrong).

I've survey that place but not 100% owners are from Malaysia. Some I know are from Singapore. These owner from that island, speaking from experience knows good property on an island will always appreciate very well.

BTW An other good area on the island is the old houses in Greenlane. Yesterday a double storey semi-D, original price was 24k in 1964, was knock down to be re-built after it was sold for RM1.24million.

A lot of newly launchs properties are brought over by speculators .......

I always says that Penang in a diamond under radar screen, I bet if Lim GE is sitting there for the next 20 years, it will be a real blue chip stock, driving Penang growing 3X faster than ever, then it will be great! Singapore has nothing, but they hv master Lee, enough to turn a charcoal into diamond

If I was a foreigner, I wouldn't buy landed property in Penang. Why? Rental yield is terrible! Average terrace house in Penang rents for under RM1.5k, price >500k!

I have photos on wallpapers

http://www.flickr.com/photos/cheowloon

Ha ha, unfortunately they dun think like you. For them it is the appreciation of the property rather than income from rental.

To be frank, in Penang, we can still actually get affordable landed property depends on the structure's condition. You can simply get one single storey at average price. Depends on what people really wants. For some people, they prefer high-rise residential like condo due to security wise, some people prefer landed property, gated landed property as well.

As far as I'm concern it is just a false sense of security.

U call that terrible?
The row of pre-war shophouses opposite Dato Keramat Balai is only fetching RM400-600/mth! Consider town centre d.
Haha....

Anyway, it's also due to Penang ppl are generally more calculative. If they're gonna spend RM1k+ on rental, they might as well buy one on their own.
Usually only expats would pay high rental cos they're only here for short term.

Last time, my relative's unit at Sunny Ville, bought RM170k when launched, was rented out for RM1.2k a month up until 2005. Then after the Korean tenant left, was vacant for almost 2 yrs.