well i think otherwise. first of all developers are at fault for the increase of prices. secondary market took advantage of the high price of the new projects. even i saw sellers before this put a reasonable price but upon contacting seller said agent already took over and price gone up by the agent. they just keep the price below new projects. so who can buy? those rich people. my friend place also price like crazy but the unit beside his is empty. people are still buying and selling but many unit still vacant. i dont get this. high demand? high demand for ghost to stay more likely. it also affect rental market. even old LMC can rent for 7-800. crazy? you get it in penang.

landed properties in mainland also not cheap either.

who's fault? the rich becoming super rich

This post has been edited by Petre: Aug 28 2012, 02:57 PM

yes, those ppl buy for ghost to stay, hoping us the not-so-rich Penangnites will fork out blood earned money to buy with high interest rate. They dont care how we buy, jz care about how much they can earn per unit bought earlier. this is ridiculous!

i got 1 single story semi -D at Taman Buntar Indah Nibong Tebal ....for RM230K...

nibong tebal damn far.

there will come a time when you don't even complain it's far because that's the only place you can afford to buy and stay...


maybe it is already happening now...

House price are too high, normal working class for me is a pain in ass. I not sure how can I repay the debut. But some interesting founding....when I was haunting for house.....too many investor(ghost house) if compare to real ppl who really stay...I'm a penang island guy, originally stay in penang, now I'm consider to spent more time to travel as a lot of my friends are buying house far away...and traveling cost is lower if compare with the price needs to pay for the housing loan or the rental at the island. Not too sure what will happen to penang island in next few years...

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Added on September 16, 2012, 2:22 pmyes, but I think its worth. I plan to buy Sungai Petani house. can save up interest rate + 400k for a good wide land. Who cares about travel, the time and petrol and tot is cheaper if you use 400k for it.

This post has been edited by Steven83: Sep 16 2012, 02:22 PM

it is already happening now dude...
if you are travelling to work every morning from mainland to island....you will notice the jam...that shows that a lot of people now staying at mainland and travel to island to work...



in future...penang island will be dominated by the locals who already got existing house from their ancestors or parents... + foreigners who bought the properties at 'cheap cheap' price...

no more penang kia but a mixture of local penang and foreigners...

one thing you can never buy - time

more time on the road means less time for other usefull stuff, example - time for family
more time on the road also means more risk to accidents

i'd rather pay a bit more and have more time to do what matters.

life is short

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Added on October 4, 2012, 10:42 amyou in penang? more and more cars nowadays. i cant imagine how jelutong area is going to look line in 10 years. many projects are coming up soon

This post has been edited by Petre: Oct 4 2012, 10:42 AM

i can't agree more, dude!

This post has been edited by rahtid: Oct 5 2012, 01:14 AM

Penang bridge now jam like crazy every workday morning, need about 30 minutes just to cross the bridge...

Can you take a look at this project by E&O Bhd
http://forum.lowyat.net/index.php?act=ST&f...0#entry55235630

This post has been edited by clwong1980: Oct 10 2012, 08:57 PM

sigh, I am searching high and low lately to get an apartment around RM180-200k. And I am not surprised at all, to look at those <1000 sqft places to be sold for 280k-400k. I am like WTF, I just started working for 2 years +, I know if I don't force myself to buy one for myself, I won't even be able to buy one after 3-5 years as the price just won't go down, even bubbles happen...

really blaming those rich people and agents who sell few units to their families/friends even before the project is launched. I feel very sad for us because the poor become poorer at the end, and we have to buy 2nd hand from the rich and they get more money.

Life is never fair.

I know .....the property price in Penang is crazy ...even my flat at Sungai Nibong 700sqfts asking for nearly rm300k ...

Dayum reflections condo all sold out! Anyone got hands on one of the unit?

Flat?? 300k?? siau... confirm goreng liau this.. i bet the bank wont approve on this price.. even pekaka apartment selling RM 300k mind telling which flat u refering too?

taman jubilee ....near super tanker .
I am sure over price ...they increase the price higher after repaint

In penang, the cost of rental is sooo low compared to the cost of debt making it unprofitable to buy a property there for investment purposes .

For example , landed property DS terrace Sunway Tunas at bayan Baru 1200 sqft is now selling at around RM850000 , and with 10 % down payment and at interest rate of 6.3 %, the monthly mortgage payment is RM 4735 .......but sadly such a house can only rent out for RM 1500 per month..... so the balance RM 3235 of the mortgage monthly payment must come from one own pocket larr.... obviously the low rental income cannot cover the high monthly mortgage payments .

Only those with gross monthly income of RM 13000 are eligible for that loan amount , so how many penangites or malaysians for that matter have that kind of salary ?.....few and far between . If one buys it for the purpose of selling it back later at an inflated price , one will have a very hard time finding a potential buyer who has that kind of salary to buy it .

Hard to sell and low rental yield will drive away cash buyers also laaa . Who would want to park their hard earned cash savings in a property that is hard to sell and can only rent out at a very low price like that..... not worth it .

Landed or condos are all the same laa, if price too damn high , but rental yield too low compared to monthly mortgage payments then not worth it to buy for investment .



This post has been edited by azi_fauz: Nov 20 2012, 12:07 PM

Sigh,

I do agree the price is too high. I am now sourcing for my second property and damm it, the price difference is so much compare to what I got last time. I bought my apartment 2 years ago at only RM190k, fully furnished and renovated with beautiful wallpapers and lighting. Now I saw people are trying to sell this at RM300k above for an empty unit!!! A fully furnished and renovated unit cost easily 350k and above...

Now when I try to source for a new place for upgrade, I can hardly see any condo with above 1000 sqft below the price of 450k...this is ridiculous...

no doubt it is high now but i think it will stop at RM600-700K for an entry level 1000sf apartment. Don't worry to much. By then we can slowly pick what we wanted.

thought that want to get one villa emas condo
yesterday go to visit one house pending for sales, it cost RM350000
no view from the house

not sure can easily rent out or not