Pls don't reply to a post from so many years ago

600psf seems about right for that area, but depends on whether you are buying for own stay or investment. Unless you work nearby, commuting in and out could be a problem, but it is an ideal place for expats and retirees

Actually your criteria is not really an issue for a small island like Penang, everywhere is reachable within a short drive unlike in KL, and hawker food are everywhere. Besides, 1200-1400 should be able to rent majority of the condos in & around Bayan Baru, except the luxurious ones. Unless you are talking about within walking distance to avoid the rush hour traffic, then you may consider d'piazza, elite heights

Yup, good time for bargain hunting

They go for what they can afford, which in this case is mostly condos

High end condos sales pretty bad, not a good time to buy for investment, even for own stay, better go for subsale and check out the occupancy rate, else you'll end up staying alone in the entire floor/block

Don't think so, I think the opposite is true, I personally know more pg ppl moving to Klang Valley than the other way around. I wish it was true though for the sake of Penang economy

Be careful if you want to do airBnB, many condos are not airBnB friendly, and quite often you can see residents putting up huge banner in front of their condo to discourage airBnB/homestay. Penang's government is also quite strict against such illegal home sharing.

Are you buying for own stay or investment? If for investment, stick to Klang Valley as there are still many opportunities for decent rental yield and capital appreciation. Penang is no longer ideal for property investment due to the high price and lousy rental yield

With that kind of budget, you've got plenty of choices, check out The Uban, 98 Nibong, Summerton, Tropicana Bay...etc Some like The Uban or Putra Marine might be selling above RM1m on average, but in current market condition, you might get lucky with some desperate seller willing to sell below RM1m

Else if you are not in a hurry to move in, the new developing project Triuni is also a good choice

Maybe you can narrow down your criteria like area size, preference...so that we can better advise you

If you are buying for investment, look at the rental yield, the current rental yield for Penang market is pretty lousy, especially for property above 1m

Which project?
Penang is not ideal for property investment at the moment, only good to buy for own stay. Nothing you buy at the moment can give you good rental yield of above 6% (pls don't tell me low cost flat), capital appreciation has also pretty much become stagnant

For City Mall, it will be interesting to see whether it can succeed where Island Plaza has failed

Southbay Plaza, I believe CCC already obtained as last year when I drove past, there's already a fitness center operating there, wonder how's their business doing?

Hotel in Bukit Dumbar? Doubt in can succeed as there's not much commercial activities here

Rental market for Tanjung Tokong is good as you can get higher rental, but unless you purchase your property many years ago, the current purchase price is just too high so you'll still end up getting lousy rental yield

Around 1k to 1.5k depending on location, you can check Mudah or other property website for actual asking rental.

If you are looking to invest for rental income, you might want to reconsider, as the current surplus will still take a few years to clear

Couple of expats I met recently told me that they find it crazy for anyone to want to buy when the rental is so cheap, so most of them are happily renting even though they have the cash to buy

You are entering at a wrong time, the current market is still recovering from surplus of unsold and vacant units, and it will take a few years for rental yield to pick up. Like someone mentioned previously, you're probably better off parking your money in FD, since the stock market is also very volatile lately

Definitely not for investment. This project is already selling at a high price to begin with, rental yield also very low. Last I checked, there are still plenty of unsold units

All I have to say is this, now is not a good time for property investment, especially in Penang, couple of successful property investors that I know of have also shift their focus to the stock market which provides more opportunity with the recent volatility. Buy only for own stay, if you die die want to invest in property, go for secondary market, and really nego with the seller to push to price lower. Remember, you make money when you buy, not when you sell.

Comparing these two is like comparing elephant with mouse, one is a high end freehold condo selling for no less than 1 Mil, the other is a mid range leasehold condo which you can get for around RM500k

https://www.thestar.com.my/metro/metro-news...estay-operators

(If you can't access the link above, try this cache version: https://webcache.googleusercontent.com/sear...n&ct=clnk&gl=my )

That's a matured area, price probably won't move much in the short term, long term depends on overall economy. Unless you can get a really good offer, now is not the time to buy for investment.

Since no one reply you, let me chip in. Yes, both are good location if you are working in the FIZ area. Can't really tell you which one is better as both condo are fairly new and close to each other, I suggest you go survey and find out what is more important to you. Example: If you prefer to have Mr DIY in walking distance, then Promenade will be a better choice.
However, bear in mind that even though this location is near to FIZ, the traffic in and out during rush hour is horrendous.
Another location you can consider is around the Bayan Indah/Queensbay area, which has the advantage of closer to sea and a long stretch of well-built jogging/cycling path, especially if you are a fitness enthusiast.
Good Luck!