Bro, can called up ivory n ask.
Launching this year but month not sure.
Make sure u got enough deposit n ensure
that your net income is 50% more than
your monthly debt...

yes cause developer absorb interest ....
bank won't approve loan cause the person not qualify for ...

lock period is all abt the deal u sign with bank
bank approve loan base on purchase income proof ...

Actually the increase is due to many factors, for PG is party due to land scarcity, look at all those new project launches, if it's landed it's either at reclaim land, hilly areas or ex grave yard location. So it's not surprising that prices are increasing like mad. But if look at Kulim, Sungai Petani, or even Nibong Tebal, these places the price is still very much affordable. It's a matter of demand versus supply. PG just couldn't keep up with the demand for landed property.

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 pm

yes, 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.

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...

The 5% is based on the original purchase price for a year, the 2nd year start will be based on current market value. However I am not sure about the per annum by then.

My actual plan is to rent it out in a long term basis, and then flip it when the time is right. 

If this is only the SPA, RM11,500 legal fees for a RM650K unit is a bit high. That's excluding stamping fees. I wonder what is the "Other Fees"?

For commission, yes, some agents do it slightly different in Penang. But it is still subjective. You can always negotiate.

hi penangites/investors,

i am looking for the places below to invest in..i expect to rent it out at a rate that will at least cover my monthly loan repayment..also i want a place which has better rate of occupancy and better value appreciation rate...to have a better judgement below are the details:

Desa University (mostly rented to students):
1. Average asking price = RM 380k - RM 485k
2. Average size = 900 - 1100 sqft

University Heights (mostly rented to students):
1. Average asking price = RM 340k - RM 450k
2. Average size = 800 - 1000 sqft

Sri Saujana (mostly rented to students):
1. Average asking price = RM 380k - RM 500k
2. Average size = 1000 - 1200 sqft

Taman Pekaka (mixture of students and working class, has most units for sale comparing to the rest which concerns me abit):
1. Average asking price = RM 250k - RM 400k
2. Average size = 700 - 850 sqft

prices are subjected to the unit condition in terms of furnishing and renovation..

1. may i know wat is the average market value per sqft surrounding usm area?

2. i know there are some techniques to buy a unit at below market price..this do not involve negotiating for more discounts or price slash...instead it is carried out by doing some barter trading/internal agreement but i have yet to find out or learn...can anyone kindly share with me?
any suggestions and advices on investing in one of those places are very welcome 

Guys,

Penang got any upcoming project for around RM150k? No LMC please as I not entitle anymore

i can onli take 70% loan since this is considered as 3rd property if i wan to buy...so im guessing the repayment should b around 1400

actually the rental around tat area is about 1200...but the repayment is based on 400k value...there are still those below 400k...one of my friends got a property in desa uni and been renting out at 1200 and manage to cover his repayment although recently he has refinanced to bank valuation amount...

i would like 2 get a unit in desa uni as well but now onli 4-5 units on sale for above 400k...nobody willing to let go below 400k...there is 1 offering 380k but not sure how is the condition..

you dont know the story?

usm is now an apex university

the students are now very less (drop like 80%)

this is the reason many ppl are selling off condos surrounding usm. very hard to rent out already

you can also go survey for your self. even the coffee shop (corner one) closed down n replaced by a kopitiam which is also very empty. Apart from all this, many shops also closed down. recently, the fuji photo also closed down. s n j closed down too some time back

i was an ex usm student... so pretty familiar with this area.

not a good investment area anymore.

Hi newbie here. Anyone have any good/bad comments regarding Mansion One at gurney drive by developer magna putih??