Hi all,
I would like to ask bout Penang properties here as I am planning to buy a house/apartment within this year, and I heard that Penang properties will drop due to economy recession, hence I would like to check with you guys:

1. when is the best time to buy a house,
2. Second hand (with renovated) or first hand is better

Any Penangist can here that can give me some valuable opinion? If you guys have good place to recommend it is even better! (I am looking at > sq ft, and nearby bayan lepas area, with free hold ownership)

Thanks pal!!!

As of now, there are not much big changes about Penang properties prices yet.

There's a property fair over at PISA next weekend, perhaps you can go over and have a look.

thanks for your help in stimulating the island's economy.
what type of property are you looking at?

1) apartment / landed
2) sf?
3) new / second hand

There are rumors that prices will drop, partially true since quite a number of factory workers have been VSS-ed or retrenched. But at this moment, no price flux is observed yet.

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Added on March 23, 2009, 11:31 pmbtw check this out
http://www.penangproperties.com/

This post has been edited by Dark NT: Mar 23 2009, 11:31 PM

TS, just make sure it's not a leasehold because there are many parts of Penang land with the leasehold title.

Bear in mind that most properties on reclaimed land also are on leasehold, apart from PDC (D'residence, Mutiara Pico) and CP Landmark's (Bay Garden, Bay Star)projects. I'm not sure about Gold Coast, Putra Marine and Putra Place though (they were leasehold but the developer applied to convert them to freehold, not sure the status now).

Even if there's a price drop, i think it will be in the 2nd half /Q4 of this year. That also, I don't think the drop will be much. Developers are already adopting the 5/95 package, so the price drop will be delayed.

There's always pro and cons to first or 2nd hand properties. Imho, if you're going to first hand properties, I always go for properties that would need the least amount of renovation.

You can get more info from this site as well http://www.apartment-penang.com

I see.....
Actually I am looking for both. As far as i concern, if the price can suit me, with or w/o renovated is OK with me......you are right, no sign of price drop as of now....

I think the question is, you are buying property to live or to invest?

If to live, then wait for property fair or end of the year.
If to invest, you can buy anytime. Best is property that is finish. Fully renovate is bonus. As you can rent out anytime to cover your loan (if you are loaning from bank).

i have diff opinion

for investment.. go for properties launches. since its investment u should be willing to take risk. completed property already too expensive to invest.. and the rental return (in penang) may not worth the investment at all. even the capital gain may not be significantly higher than other type of investment (except a few exceptionally well performed projects)

for own stay - go for completed property. u are guaranteed a place to stay.. just have to pay more.

I agree with you. For investment, better go for new property (landed). For own stay, shd buy a completed and renovated property.

just went to the property fair, quite interested in the project by Mah Sing, Southbay, 3 storey super link terrace house. it's selling at ~rm800k for built up of ~3100 sqft.

Any bro can comment? thanks.

Just want to ask Penang people something. Is there a market in Penang for studio apartments?

I've a developer friend who is thinking of introducing the concept of tiny studios, targeting single executives and expats.

The proposed apartment will consist of mainly 305sq ft studios and 535sq ft 1R 1B units, and a few 900sq ft 3r 2b units. Price from RM150k onwards.

Where is the exact location of SouthBay?

quite near motorola, right after the junction (turn right and it,s the aquarium, left is the curry fish head place)

I have a several expat colleagues who will be interested. Most of them are staying alone or young couple, but they still end up renting a 3r 2b unit with the other 2 rooms left unused. One guy ask me if there's any studio or single bed room apartment in Penang.
I'm also interested myself.

if 1 room 2 bathroom just with a hall..a bit ok..how much will it be to buy o r rent? 2 room 3 bathroom will be good but for long term wont be good..

example 2 room 3 bathroom rm45k for those earn less the n rm2k..usually low cost flat..build by gov agency...

3 room 2 bathroom will be rm75k...low cost also...

can i tumpang theread...
is it worth to buy a leasehold house? still got around 80 yrs contract....the management are saying trying to covert to freehold...i wonder is that possibble....

ts, im staying around the area u mention n looking for houses also...which houses u like?

This post has been edited by jovyn: Apr 4 2009, 07:22 AM

I like SB too, but too bad I do not want to wait for another 2 years so I think I'll go to SP Setia's.

Having said that, paying RM200 per month and can't change the facet of your house is kind of draw back from strata titled house. You have to be careful that there are some units in SB are built on top of swamp area, I am not particularly know what are the side effects but I will suggest best avoid those few units if you can.

The mosque which is less than 1KM away are quite loud (I was standing there observing during prayer time), you can hear 2 mosques prayer.

Although it's close to the airport but there is no observable sound pollution during takeoff/landing.

If you can bare with some of the -ve points above, I will say SB is a good place to stay and invest for coming 5-10 years.

hi guys..
any1 here familiar with butterworth properties?
i plan 2 buy a landed house in bagan lalang/raja uda area. any recommended housing project??
i am quite interested in central park, one of the latest housing project in bagan lalang. Any1 heard of this project?..would like some inputs..thanks..

Are you local to Butterworth? If not, why not consider central district like in BM, Juru or Alma? Lots of housing projects there especially along Song Ban Keng road or Jln Rohzan.

instead of butterworth, u can look for batu maung, got some good launching by lip sin development there