Penang properties

Yesterday after work, hubby & I were actually visited a house near Batu Maung. It’s a new property development and it’s built by Sunway Berhad.

We both quite like the house except certain place we find it we got to do some renovation on it.

Every time when I companied hubby to view any properties, I’ll get very upset. Upset of the price that the developer is placing. 1 could tell you that Penang’s land is limited and expensive too, 2nd will tell you that materials price had hike up, we developer don’t have a choice. 3rd sub-sale of a property could have 100% gain from the developer price.

A very good example down here is this property that we viewed yesterday. Developer price was RM468k, selling price is RM585k, it’s 80% increased. Not only that, I was told, when this project first launch on that day itself, already fully sold. People are even queuing up to buy the property as early at 3am. Can you imagine that?

Probably you may think that I may exaggerate the matter, well, I have not exaggerate this but in fact, it’s somebody that we met at the neighbourhood told hubby that.

The agent that brought us to see the property could tell us, this is the market price in Penang, consider cheap already. Furthermore, there are so many foreign investors investing into Penang. Well, I would really like to clarify, … do we have lots of investors investing into Penang? If such, how come I don’t see any job classifieds in the papers then?

For a white collar like us, no way we could purchase a property like this especially it’s located in Batu Maung. 2nd, apartments and condominiums’ price are not escalating thus, we can sell off any of that to purchase a landed property. Whatever it is,… who can we blame?