Is Penang Island Overrated?

Added by e at 13 April 2010 13:36 7 pts
While Penang Island used to be 'the' place to live in in the 80s and before, today it is no longer the same. These days you get traffic jams due to congestions of cars and motorbikes along main routes during peak hours, come holidays and festivities it gets worsts. Unless you inherit ancestral homes, the price of decent landed property and apartment these days are sky high for new buyers, pigeon holes not counting.

IMHO, it is much more comfortable to live in the mainland and enjoy the wide open spaces at a more affordable price, after all the island is just a bridge's drive away.

Any opinions?

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#21 by Mr. Anonymous at 17 Aug. 2011 15:19 4 pts
you cannot sell to foreigner market forever. in the long run if all the housing area in penang are owned by the foreigner where will you or me live?
the government need to push back and think about ordinary people like you and me rather than foreigner.
#15 by Jason kim at 23 Nov. 2010 10:55 2 pts
Yes, it is over rated, the price rise can break thru the sky already!
Degree Fresh Graduate with salary RM2500 per month are not afford to buy small flat in penang.A flat unit in Penang for secondary market is RM95k, it is almost RM100k already.

With the minded of investment purpose, penang house price keep rising, sooner the market will turn be like HongKong.

One unbalance thinking situation occur:
People all want to buy house for investment, the selling price and rental price is very high already, Will you think who will be the customer for this?
Aim for foreigner market?
#14 by i live in prai at 27 May 2010 15:48 2 pts
i for one prefer seberang prai rather than the island.
#13 by Mr. Anonymous at 24 May 2010 17:52 0 pts
@12
obviously that is true...but the high end properties are taken up by foreigners with money...
#12 by Mr. Anonymous at 13 May 2010 00:31 1 pts
Property investment must be sustained by rental yield, a fundamental requirements in my opinion. I am not very familiar with Penang properties but can I safely assume that rental yields and availability of tenants are proping the high end property investment on Penang Island?
#11 by Mr. Anonymous at 04 May 2010 11:30 1 pts
>10

I think what 4 and 5 mentioned regarding becoming singapore were in terms of property value, and not in terms of population, regardless of which race is the majority whatsoever.
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