Was seriously thinking of buying my first house there.
Near to my parents places and near to Penang Bridge.

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?

Platino Luxury Condo is the one near tesco? any idea how much will it cost?

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?    

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?

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.

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?

i've been to bayu mutiara last weekend...the completed house looks nice leh....given time, i think once everything settle down, it should be a pretty decent place to live in...and autocity is just across the big street...so i think it's quite happening as well...

right now, too many construction on-going...and sure dusty...lets wait and see once everything settle down....

what's the project name in Taman Keenways?

I have calculated for myself about the Greenlane Heights Apartment with non-covered car park, provided security and the deal is 110k...It is equipped with 3rooms, 700++ square feet...if let say i can find interest about 4.5%(after BLR minus the interest rate that offered by bank), and make it 30 years tenure, each month i need to pay RM430.68 exclude maintenances fees and utility bills....

After 30 years, i found that i settle about RM180k...means that RM180k-RM110k=70k and this amount is the interest charge for 30 years...so, it is rm2333 per year, rm194 per month, rm6++ per day lo...suddenly i feel that buying house as investment is not so good...pls don forget i havent add in monthly maintenance fees yet which is RM80...RM80x12x30=RM28800...so how you make money from buying house?

In addition, please do not forget about BLR(base lending rate) that may be adjusted, as u can see, global economic so bad these days, so we cannot predict what will happen next...just for ur info, current BLR is 6.75%, but i can sense that BLR could be adjusted(if increased too bad la, if decreased then good but possibility very low) either this year or next year...

So, at this moment, should we buy a house or not(if i is for investment)? is it worth to buy 110k greenlane heights? i need ppl opinion...help!!!

ya..im staying there actually(government ganti us one because our old house had been replaced, so we no need to pay any money unless 2k for car park and renovation fees)...i stay at Block A...block C quite ready, block B still under construction...

jus FYI, 1 unit there is 75k + 9k car park lot=84k(650sq feet), above 19th floor can get 42k with 2 rooms only( 550 square feet)

previously, i was planned to buy extra 1 unit there for rented purpose but finally i not decide to buy..do u know why? there have alot of bangla and indonesia nowadays...and pls don forget that place is reclaimed land...very not peaceful although chinese quite alot too...

He has mentioned the word investment.

I don't think a 700 sq ft. apartment can chalk up a rental of 600.