hi,

sadly to say, the prices for penang properties will continue to rise. the traffic was pretty bad n heavy at the surrounding roads leading to the venue of the property fair. not to mention lots of cars from other states n singapore.

being an average earner myself, i m at a lost for words but at least i was a bit lucky when i bought my apartment in 2007 during the downturn. bought d 2nd apartment ( town area abt 900sq ft ) at around 240k but now ppl are selling it more than 330k n above....but so wat as i cant afford to upgrade to a bigger unit as my family size is increasing.

i did do a survey abt 2 mths back n found all new apartments ( either newly launched or in the midst of completion ) are heavily speculated. the properties are selling at 40% higher than the launching price. and most of them are either fully sold or just left a few units.
a few of my frens are also speculators n they made a lot of money, some of them can be considered millionaires between 30 to 40 yrs old. n they did it by buying 1 unit at a time and with less than 50k to start up with.
at the end of the day, these ppl take the risks n the opportunity.....of course they had some cash to start up with which i don't have....so wat to do.
finally...i remember someone quoted in the news, there are still affordable properties but it is just a bit further away ( mainland ).

i still do have some frens who dont own any property n they keep hoping the bubble will burst. as much as i hope so but i dont thk it will....so just keep dreaming. i still harbour some hopes of upgrading my apartment, possibly an old ( 10 yrs or more ) 2nd hand unit again but a bigger size and i know it will be at least 450k n abv. 1 man's misfortunes is another man's gain.