Which makes things difficult for me.
I'm looking at some pretty old houses right now, need an estimation on how much needed before I can commit to it.
It would be disastrous to purchase an old house only to discover that I cannot finance the repair

How old is old? And which location? For own stay or business/investment?
Budget for purchase & budget for improvements?

I am thinking of getting an apartment or condo for investment purposes in penang island.
After few months of searching and I found that penang condo price are not in the range that I can afford, unless I go for those low cost apartment or low cost flat like BJ Court or some condo in Relau area.

I am just graduated last year and been working for 6 months. How all the sifu here can advise? Thanks.

I'm buying for own stay.
The place is in Island Glades. It's an original condition house, with timber flooring.
I have about 100K to fix up the place.

I'm no expert, but perhaps you can look into low cost flat at strategic location. That might offer a good rental yield. Maybe.

hi there guys. i plan to go to penang to work. would like to as kabout how is the property market in penang at the moment? anything coming up in sungai dua to bayan baru area worth looking into?

plan to invest in a property...

If u guys want to invest for rental, I suggest not in Penang. Rental yield here is generally bad compare to the property price.

If for flipping, well u can try at your own risk given the inflated price at this moment.

Rental yield for landed property has always been bad in Penang. Only slightly higher than apartment/condo.
Rental yield for apartment/condo used to be okay, but not anymore. The price of highrise has increased too much for the rent to cover, much less make a return out of it.

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Added on February 22, 2011, 12:33 pmThe places you chose are close to the factories, and are pretty high in demand. I would say a landed property there right now is from 700K to 800K.
For small apartments, I think the price is around 200K to 300K.
Newer apartments > 1000sqf, should be above 350K.

Good time to invest? I don't know.

This post has been edited by xecton: Feb 22 2011, 12:33 PM

Thinking of shift to KL then for property
Last time wanted to grab D'Piazza at around RM280k but didn't made it. Now mostly RM320k to RM330k. =.=

dpiaza last time was rm200k more a bit

but now not worth geeting it at rm340k.... workmanship is terrible and many ppl are trying luck selling od the units to unsuspecting buyers

Island Glades dun have house with timber floor upstairs. Maybe you meant the Guan Joo Seng/Japanese Garden area just before the Choong Wah Sec School?

Anyway from that area to Island Glades it is considered Prime area. For own stay just dun get the ones on or whose back is next the houses on the Main Roads - Green Lane, Jalan Besi or Jalan Delima

Which is what makes me confused about the property value in Penang.
Taking D'Piazza as an example, you have a not so good highrise (my opinion, no offense) at a quite good location.
But majority of the units there empty, and very highly are waiting to be sold.
If the supply is high, then logically the price should be low. But it's not.
I suppose the sellers are able to service the loan, at probably about 1K/month.

Oh, I heard that some are already rented out to foreign cheap labours.

I haven't been inside the house yet, but it definately is in Island Glades. Perhaps the agent was mistaken.

That D'Piazza location did not have a happy start. Many people got burnt...so once bitten, twice shy. This is further aggravated by the stupid ingress and egress of that complex.

Overall , esp now the rental yield is very bad . Can get around only max 5% to 6% only for residential .

However if you were to look into commercial ,the yield is much higher. Therefore those that got budget , go into commercial .That is mostly where all the sifus go into

dude...are you sure? any owners who want to sell can easily make profit la...where got burnt? i got a friend who own a unit with confirmed buyer...but he don't want to sell...because need for own stay...after sell still need to buy another apartment...so won't earn since every apartment price also high...

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Added on March 13, 2011, 10:48 pmi don't know about expectation la...generally good location apartments all can no longer get RM200k...i think lucky if can get RM260k at least for a small 850sqft apartment at bayan lepas area...

if you consider those lower end apartments, then maybe can get..
but i agree with your statement of rental yield... if want to earn based on rental yield..better invest other place...

This post has been edited by kevyeoh: Mar 13 2011, 10:48 PM

hey all,

anyone know the new condo planning near queensbay there, just across gold coast..
i forgot the name, i saw it when i go the Property fair.

To built beside putra place?

Penang under DAP governance sure the property will continue "ONG"

yesyes... but i forgot the name ...

i try apartment penang but kenot get anything

many ppl are snapping butterworth properties like hot cakes
demand good

the pearl garden phase 1 and 2 also i think sold out. located in simpang empat.

Heard end of this month, they will have preview in queensbay mall on their new projek, pearl villa, sp 4 also.


anyone know? but heard banyak sold out already

http://www.pearlgarden.my/

I am a property agent based in Penang. If any of you need service or enquiries,do pm me.I will do my best. Thanks