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

nope..im not local..im working in the ftz area in bayan lepas.. currently looking 4 a house for my own stay and also as an investment. im looking 4 a house which is near to the pg bridge as i will be travelling to and fro everyday.
that is why i prefer town like seberang jaya/bagan lallang. Do you have any recommendation?

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Added on April 15, 2009, 3:26 pm ..i would definitely prefer so if i have the budget...the landed houses in pg can easily cost rm600k and above and my budget is around 350k only

This post has been edited by elvoius88: Apr 15 2009, 03:26 PM

I'm staying on Penang island and moving to Bukit Tengah by end of year. I'm not entirely familar with the SP area yet but having run around looking for house before, I don't think Bagan Lalang is near to the bridge. Central district is closer. Butterworth area is generally more expensive than central district. For rm350 you should be able to buy a semi-d there. Are you looking for house under construction or completed one?

For completed or partial completed one, I can think of Taman Janggus Jaya in Permatang Pauh, Taman Seri Arowana in Bagan Serai and Taman Bayu Mutiara in Bukit Tengah. These are quite close to the highway. You might want to avoid Taman Sutera Prima near Carrefour.

.im looking for those under construction..plan to move in early next year..
may i know why the taman near carrefour is not as good as the others you mentioned?
i have heard of tmn bayu mutiara b4 but im worried of the traffic congestion at the traffic light in front of the autocity..

It was in the news quite sometime ago, cracks on many of the houses due to construction of an apartment nearby. Also the design and finishing workmanship is not so good.

I'm not sure about traffic near autocity during morning rush hour but traffic after work is not that bad as you take Juru exit, you just need to turn left toward the taman. Have you check the traffic in Bagan Lalang? There are 22' x 70' houses still under construction and probably OC by Oct/Nov this year. Not sure about availability though. The 20'x70' terrace and semi-d were completed with OC and quite a number are for sale. Sorry that I don't have any further ref for house under construction as I'm done looking.

thanks for all your inputs ..really helped a lot
shall take a look at bayu mutiara as it seems to be quite a good catch ..
btw ..are u aware of the houses that sink at bagan lallang? They are built on reclaimed land. I am not so sure if its the houses struture prob or its bcoz of the land not stable enough which cause them to sink.

Yes, unfortunately one of my friend affected but not the worst one. He is now looking for a new house and intend to sell it after the developer rectified the problem. The row behind his house affected the worst and you can see the other side thru the cracks. It was due to the land was previously a stream/river that has been diverted. It seems the developer did not pile enough at affected area. The developer will solve the problem after they are done with building an apartment/flat nearby. Forgot the taman name already.

anione aware of the lip sin launching in batu maung? taman sri mewah indah?
izzit a good investment?

can view it here

http://www.apartment-penang.com/

I hear that this is a gated community project. Is that correct?

I just came back from viewing SouthBay showhouse with parents. Too bad, it is 3storey link house..if it is 2storey, then we are interested.

I heard the conversation of one visitor, Batu Maung is too far..WTF ?? Typical PenangKia, so ulu...

Travel from Bayan Lepas->Georgetown->Tg Bungah->Batu Feringghi->Balik Pulau->Teluk Bahang->back to Bayan Lepas..round whole island took me less than 2hours driving.
Such as small island..i have been living in Pg island for a decade, every place is so near..not that far away only

This post has been edited by ralf: Jul 6 2009, 07:40 PM

sad to say
it is a bad place. far away from mah sing. 20 min away
more ulu places

There are 2 identical Penang Property talk topic, so please proceed to http://forum.lowyat.net/topic/618867/+180 for further posting. Thanks.