Economists and the Malaysian Government alike foresee a growth in property development with the proposed Second Bridge Link, monorail, and Penang Outer Ring Road projects, to be implemented soon.
Many foreigners, especially Japanese, Australian and British nationals, have invested in second homes on Penang island. In a recent survey, Penang was voted one of the best Asian cities to live in, by Asiaweek. It ranked 6th in 1998 and 9th in 2000.
In 2007, Penang ranked as the 10th most liveable city in Asia according to a survey involving 255 cities in Asia by Employment Conditions Abroad Limited (ECA International). Some of the barometers by which these cities were gauged include weather, air quality, infrastructure, health services, housing, security and politics. Property prices in the south of Penang have increased by approximately 20%, compared to only a year ago.
Generally speaking, Penang properties generate good investment value because of their location, concept, design and quality.
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