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 pmDo you mean the IJM projects? Most transactions are going around 600-800k

This post has been edited by Darkmage12: Mar 10 2008, 07:49 PM

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

I'm just wondering whether is it a wise move to even invest in Penang .. Properties there are so expensive, I guess the price won't raise much anymore or else nobody can ever afford living in Penang ...

you gotta do your homework if you really intend to invest in penang properties. your timing has to be right, and location matters a great deal. don't simply buy into those hype (by property developers and agents, no doubt) that you must BUY BUY BUY NOW!!!

agents will always cite you the case of bayswater, where a 1600sq ft bought at launch around 350k can now fetch 550k+. (supposedly la..but whether really done or not, i dunno) but bayswater was launched around 2003/4 where our economy was pretty slow, and of course comparing with 2007 where there is a boom in equities and commodities prices all over the world, surely will see a decent appreciation. you gotta ask, now you buy 550k, you think 3 years down the road someone going to buy it from you at 800k?

also as a general rule, penang condos are slower in capital appreaciation but fetch ok rental. the reverse is true for landed properties. there are semi-d that are being rented out at 1-2k only.

so bottomline, you really gotta do your homework if you wanna invest in penang properties.

Do you know that many foreigners are staying in Penang? Some condos or even the penthouse located in Gurney are reputed to be owned by tycoons from greater china to keep their mistress

yup land there are selling roughly 50% more expensive than premium areas even within the klcc vicinity

Does anybody has any comments on new houses at Sunway Mutiara at Permatang Damar Laut. Double storey terrace is going for 580k.

Any commments about hte location? Is the 2nd link going to be very very close to that area?

i am also looking for a landed house in penang

i saw a few at relau

Setia Pearl Island

how is the place??

price is about rm800K for one corner unit


the rest mostly in fact all sold off

its 3 story

anyone aiming for low-cost property like Sri Saujana flat at Harbour City near Ferry? Its around 75k excluding car park. instant access to jelutong express highway and near to Komtar and Ferri.

i'm planning to buy one for investment and for rental. is this a good move?

sg ara is quite a congested area. access to the area is limited to a couple of main roads, so that contributes to the traffic jam, especially during the office hour rushes. sp setia is quite deep inside sg ara, so you gotta consider this factor.

you can also consider mah sing's development at batu maung. new area and it's a bit further than sg ara, but it's near the main coastal road, so infact travelling is easier. price-wise is quite similar to sp setia. but iirc, it's gated community so you gotta pay a few hundred bucks p/month.

but actually if you ask me, the prices for new houses are rather steep. it's getting quite silly already. soon it's gonna be out of reach of your average wage earner. quite a sad situation that our house prices are similar or even exceeding kl's yet our pay is generally lower! no wonder ppl say penang ppl are kiamsiap......have to save money to pay for the houses!

why not consider second hand houses? if you look hard enough you can still get some good buys in sg ara area. you have to spend time and money on the reno work though, and some ppl just dont like to bother with that.

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Added on April 7, 2008, 10:32 pmdunno the rental rates for flats there. but if you can get something like 500/600pm then you can get quite a good rental yield. for investment, i dont really think a very good move though. there are plenty of low cost flats around that area, and more seem to be coming up.

This post has been edited by abarai: Apr 7 2008, 10:32 PM

[quote=abarai,Apr 7 2008, 10:27 PM]
sg ara is quite a congested area. access to the area is limited to a couple of main roads, so that contributes to the traffic jam, especially during the office hour rushes. sp setia is quite deep inside sg ara, so you gotta consider this factor.

you can also consider mah sing's development at batu maung. new area and it's a bit further than sg ara, but it's near the main coastal road, so infact travelling is easier. price-wise is quite similar to sp setia. but iirc, it's gated community so you gotta pay a few hundred bucks p/month.

but actually if you ask me, the prices for new houses are rather steep. it's getting quite silly already. soon it's gonna be out of reach of your average wage earner. quite a sad situation that our house prices are similar or even exceeding kl's yet our pay is generally lower! no wonder ppl say penang ppl are kiamsiap......have to save money to pay for the houses!

why not consider second hand houses? if you look hard enough you can still get some good buys in sg ara area. you have to spend time and money on the reno work though, and some ppl just dont like to bother with that.

hanks for the reply abarai.... u mean maintenence for ehich one? the batu maung one?

sp setia maintenence is only for the security which is rm50 per month... cheap

anyhow will be looking into batu maung areas

got any website? my budget is below rm800K

i also want a corner lot or a house with land at the side....

go google for mah sing.

you may not get corner for below 800k though, coz i think their intermediate already going for 7++k.

yeah their maintenance is more coz they include clubhouse facilities, if i'm not mistaken

i can get a corner unit at setia pearld island at rm800K

thast why i am considering

its not easy to get a corner lot nowadays

this mah sing pricing seems to be very high ler

Anybody has any info about the upcomign southbay city in Penang? It's gonna be developed my Mah Sing also right? Any idea how large does the area span?

thanks for the comment, i have hold back my thought now

yes mah sing is the developer. not sure about the size, please google for it.

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Added on April 9, 2008, 9:51 amno problems. but dont simply take my advise completely, you should do some homework yourself too. afterall it's your hard earned money!

all the best!

This post has been edited by abarai: Apr 9 2008, 09:51 AM

sunway mutiara house seems nice but the place seems to be a kampung area

a lot of mat rempits lepak at the tnb station there

its not gated so security might be a concern

yo guys,
was wondering if we can start a thread on new projects/currently on-going around penang... will be good as sharing to those looking for properties...

Eg.

Landed:
1. Bayu Mutiara, Bukit Tengah
2. Botanica CT, Balik Pulau

Apartment
1. Oasis, Minden Height

thats alot my friend....now alot of project on going...but u know what happen to market recently? price gone up high...steel price increases, aluminium, glass.....alot alot of stuff price increased...many contractor is in debt status....cant get credit to start project....

anyway, why wanna start topic on that?

It's true. Price gone up high recently. My new house just obtain OC. Renovation cost a lot which squeeze my wallet. Previously the budget they estimate for me had increase 30% just shortly in 1 year...

yeah i guess so....but remember, more project are focused around balik pulau and above. i can they r try to take the opportunity of the 2nd bridge.

hey guys, do u know any new middle cost project around bayan lepas???

bayan baru biggest project currently by setia pearl developer from kl...thats the biggest project currrently...other than that, low cost project i dun think they have it....anyone know the sungai ara project has been cancelled...no one dare to take up the project due to the price increasement...

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Added on April 22, 2008, 5:20 pmas what i can see, developers are trying to focus on batu maung area..coz theres where the new penang council and 2nd penang bridge link are...

This post has been edited by raymannlucas: Apr 22 2008, 05:20 PM

there was another project currently running at sg. tiram but dont know which developer is it...seem like a good settlement area there,....

well, penang has the potential to be like singapore...the price of landed residential house will goes up high and as i predict in 10 to 15 years time, goverment will stop the developer to build landed houses big houses in penang island...but bayan lepas nearby to airport, its an advantages for the developer to grab the land and earn big in the future...

yeah i agree with this point, but now people are really pressure with the current situation around these area because of the traffic jam.

its only on peak hours i believe that cause the traffic jam...well...i hope goverment can do something to update penangites lifestyle...and so do us, we need to work our arse off to lie a better life...

well... just as a database for current projects...so anyone who's interested (ahem, like me) can know which property to look out for...
i know the reclaimation land at the side of coastal highway, should be lots of projects there...but should be high end as well...

sometimes i think...why penang selling all those high end properties...are all Penang ppl that rich? i don't think so...i believe most of it being bought by foreigners already...
so all penang kias eventually suffer and stay at small apartments or flats... hehe...

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Added on April 22, 2008, 10:44 pmany details like the project name?
what about the price?

This post has been edited by kevyeoh: Apr 22 2008, 10:44 PM

ok, first of all, penang people spend most of the money is buying property and cars...the reclaimation land project is owned by pdc, semi governs company...it would hit up to 800k per 2storey terrace unit... foreigner probably more like japanese, coz penang has 30% of japanese...

penang got many tycoon but then foreigners do make up a huge portion of those buying high end properties

I think the area is still under developed and there is only one road leading into PDL from Bayan Lepas. So is a bit inconvenient. The distance from the 2nd link should be around 3~5km but again, with 2-way street, it will get awfully congested when 2nd link is ready and the roads are not widen.

The point brought up by samquah is valid too, its a bit kampung and there are a lot of motocyclist zooming around without helmet.

so anyone wanna help contribute to the list?

u mean the ongoing project or the houses already built?

ongoing and newly launched projects...

i'm eyeing property in penang and KL too.

went to few show houses before..

balik pulau there are 2 projects (landed) cost around RM330k and RM300k respecitvely.

plan to get a landed property at mainland but the traffic on the bridge make me sick

balik pulau RM300k should be Botanica CT...it's selling around RM299k...

but it's really quite far...if you buy...i am not sure if you can find ppl to rent or not...

Me too, I'm looking landed properties at Juru area, any recomemdation.

Prefer ongoing and newly launched projects... thanks.

This post has been edited by A1700: Apr 30 2008, 08:43 PM

Do avoid that 1 Bayu Mutiara or what Mutiara just outside of Juru Autocity main road

Hi Bro, any reason behind? I'm consider that area too. Thanks.

The land was not allow to be properly done before the project was started.... the developer rushed the contractor to just fasten the project so that they could get money through progressive payment

So, the developer want to sell their house faster, right!
Any discount giving? I see the 20X70 terrace houes all sold out, only few units leave which with bad location.
The bungalow lots came with reasonable prices but the location too closed to the industrial area (maybe noisy) and
the mobile transmitter tower (bad for health, right! I guess).

For 22X70 terrace house, it is too expensive, not worth to buy. Will consider if they give discount .....

Do you know this area having any problems during raining days?? How about the quality? Thanks.

This post has been edited by A1700: May 1 2008, 08:17 AM

Discount? no discount le....That area i think can flood not very sure....air quality is very bad

That area quite congested also, right! Any others new project recomemded? I still prefer at Juru area?

Juru Heights maybe?

I check already, all sold out.
Actually I stay at apartment in Penang Island, hope can get a reasonable price landed properties at Juru area,
plan move my family there. if you know any new launch housing project there, please share with us. Thanks.

I would suggest that you find other areas maybe in BM?

Anyone heard of The Spring by IJM, along the Jelutong Expressway? Any info besides the ones in the IJM website?

Also, I'm like a BIG TIME NOOB in properties. Any For-Idiots guide to buying properties?

from http://apartment-penang.blogspot.com/2007/...ium-penang.html
doesn't seem its getting good feedback...

I agree.....That area is quite strategic. Penang is full of jam. Wherever you go, from which ever road you are coming from, it will have jam. Be it, Sungai Ara, Tanjung Bungah, Pulau Tikus, Greenlane, Georgetown, Gelugor....ALL will have jam. Is only whether you know how to manuever around or make ur departure at the correct timing.

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Added on May 5, 2008, 11:06 pmOk...Getting things clear again. Investing in the property means you are getting returns from it. You are not buying it, to stay in it and pay bills, renovations, Astro etc. That becomes a negative cash flow and its no longer investing. You will only make your returns if you sell that property away (then you will have no place to stay) or rent it out and cash in from the rent.

The Spring.... Launched at E&O on Saturday 3rd May. Opens at 9am by 10am sold almost 70-80%. There were people waiting in long queues and also bulk buyers got more opportunity. So the richer folks bought it and then middle class folks who really wanted to buy to stay (not invest) were left out again.

Permatang Damar Laut...is between Batu Maung and Teluk Kumbar, near the airport field. Its a kampung type area, currently being developed. You'd prolly hear planes landing and taking off. Its easily accessible to the Coastal Highway that will lead you into Georgetown in 30 minutes.

Southbay - Made for those who can really afford the price lah.....If you are just starting out, do you have the $$$$? The area there will sell from upwards of RM500k. So whoever buys there or rents there will need to have the duit lah...



This post has been edited by VyvernS: May 5 2008, 11:06 PM

BM? Maybe Taman Keenways? Juru Heights there alot of chicken farm...