This year again The Star organized one of the biggest property and home fair at PISA. For the past few years, I have been visiting the fair to get updated on new properties in Penang, with hope of finding a home for myself. Again, I was rather disappointed this time as there were not many properties deemed affordable to be even laid a thought on.
In Penang Island (I am talking about Island), a decent condominium with minimum of 900 sf were priced at least RM230 000 and above. With our goverment salary, though as a doctor, I was even ashamed to enquire about landed properties.
In Penang Island (I am talking about Island), a decent condominium with minimum of 900 sf were priced at least RM230 000 and above. With our goverment salary, though as a doctor, I was even ashamed to enquire about landed properties.
Most of the booths actually showcased their high-end super luxurious properties. Few notable ones were:2. Bukit Dumbar Villa town house (Medal-Rank), are priced from RM 402, 000.
3. Richmont Residences 3 storey link house (Richmont Sapphire) in Jelutong, are priced from RM 628, 000.
4. Desa Ara 3 storey terrace house ((Taimima) in sungai Ara, are priced from RM 588, 000).
5. Taman Seri Pantai 3 storey semi-detached (Vivahill) in Teluk Kumbar, are priced from RM 593, 000.
This condominium in town, Times Square (Ivory), are priced from RM 288,888, with 70% sold.Other high-end super condo:
1. The View (Ivory) in Gelugor, are priced from RM 600, 800, almost sold out.
2. BayStar Condominiums (CP Landmark) in Queensbay, Bayan Lepas, are priced from RM 406, 120.
3. Amethyst Condonimium (Prima Prai Group), in Batu Uban.
New properties in Balik Pulau, Botanica. CT (developed by MTT Properties), has double storey terrace houses (built up 1,700sf, land area 1,200sf) priced at RM 269, 969 to double storey semi-detached houses (built-up 1,956 sf, land area 2,400sf) priced at RM 369, 969. Orchard lots are also for sale at RM 26 per sq ft (land size minimum 1 acre and above).
Some of the condominiums priced from RM 250, 000 to 350, 000 are:1. Vista Gambier (Lereng Wira) in Jalan Bukit Gambier (yet to be launched).
2. Oasis Condominium in gelugor (yet to be launched).
3. Ixora Heights (PDC) in Taman Lipsin.
4. Regency Height (Palmex Industries) in Sg Ara, launched two years ago.
5. D-Regency (Ideal Gallery) in Bukit Gambier, launched last year.
6. Grand Ocean (Grand Jaya), in Tanjung Bungah.
7. Spring Condominum (IJM), in Jelutong Waterfront.
One of the crowded booths was this new development in Bayan Baru township, opposite PISA, showcased a shopping centre, D'Pi*zza, with two types of condominiums. Interestingly, the whole block of the 1,100 sf-type condo was apparently 'sold' to some interested party, still under negotiation, even though the project was yet to be launched. I learned that the model was taken down on the second day of the exhibition, left with only the 1,300sf-type condo available for the 'viewing'. This project was supposed to be launched in December 2006.
Other cheaper condominiums (low medium cost) in the less strategic locations are:1. BL Garden (Reka Indah), in Lebuhraya Thean Teik (at the hilly slope).
2. Relau Indah, Relau.
3. Desa Impian, Air Itam.
On the positive note, the minimum salary for those applying for low-cost and low medium-cost houses would be raised to RM2,500 and RM3,500 respectively while the age limit is reduced from 21 years to 18 years, according to the Penang Structural Plan 2005-2020 Draft report.
Look like, for a government doctor like me, I can only opt for those low medium cost apartments, since my monthly salary does not even hit RM 3,500 after 6 years of working. To buy landed properties in Penang Island? Probably in my dream.
2 comments:
The trouble with Penang property is that minority businessmen and overseas investors are competing with ordinary folks, hence raising the price of the properties beyond the reach of ordinary folks.
After came back from the recent property fair in PISA, hardly find any new launch property below RM300K...
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