Investing in Penang Property

Investing in property is very rewarding especially when done in Penang, as property prices tend to appreciate over a relatively short period of time. Prime property locations in Penang include beachfront property in Batu Ferringhi, Tanjung Bungah and Tanjung Tokong, which are all located on the Northeast of the island. Along Batu Ferringhi are numerous large hotels, restaurants, transport rental services and souvenir stores. Adjacent vicinities include Teluk Bahang and Tanjung Bungah.

Tanjung Bungah is another popular place for beachfront property. Many hotels in Tanjung Bungah offer rates to suit budget travellers. Indeed, the development of mid-class to high-end apartments and condominiums are rampant in Tanjung Bungah. It is an ideal residential spot for foreigners due to its proximity to the Dalat School and The Uplands International School of Penang. The Penang Branch Campus of Tunku Abdul Rahman College (TARC) is also situated here.

Just minutes' drive away is Tanjung Tokong, where the sea-fronting, exclusive Seri Tanjung Pinang villas developed by E & O Property Development Bhd have just been launched. The group has launched about 500 units of landed residential properties, priced from about RM800,000 onwards. It is now getting ready to launch the new bungalows for the Seri Tanjung Pinang project at the end of 2008, priced from RM2.8 million.

Pulau Tikus - located in Georgetown, central Penang - is also one of the upcoming prime property locations on the island. One of the luxury condominiums is the Silverton situated along Gurney Drive. This freehold property is priced from RM1 million. Lying towards the Southeast of the island is Batu Maung. Around 20 years ago, Batu Maung was only a small fishing village accessible only from Bayan Lepas.

However, in the past few years, Batu Maung has been experiencing rapid development due to its proximity to the Bayan Lepas Free Trade Zone. In 1994, a new four-lane highway - known as the coastal highway - was opened, linking Batu Maung to Gelugor. This shortened the journey from Batu Maung to Penang Bridge to around 15 minutes, from almost an hour previously.

In August 2006, Malaysian Government has announced that Penang's Second Bridge will be built from Batu Kawan, on the mainland, to Batu Maung, on the island. This infrastructure is expected to lend impetus for more development of property in that area. In fact, local developer Mah Sing’s RM1.28 billion Southbay Penang project in Batu Maung registered some 1,500 interested buyers for its first phase - scheduled for launching in early 2008.

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"Investing in property is very rewarding especially when done in Penang, as property prices tend to appreciate over a relatively short period of time."