15 years in Penang. I worked with 3 different organisations based in Penang. My wife and I got married in Penang. My baby was born in Penang. From just Sunshine departmental store until today when Penang has Queensbay, Gurney Mall and Paragon Mall, Penang has continuously changed and if I may add, for the better. Without any doubt, there are lots of improvements I feel Penang and even Penangites must have for Penang to be the next international city but to be honest, the steps taken are in the right direction. Today, I share three reasons why I invest in Penang properties.
Affordability. Many are laughing. Are you sure? As I have said, this is personal opinion. Affordability is based on the salary that you have versus the property that you buy. Thus far, the range in prices of properties that I have bought ranges from RM123,000 to RM600,000. As you can guess, the cheapest was bought the earliest in my career life. However, based on the number of years that my wife and I have been working, we slowly built up our savings and bought the properties slowly. With sufficient homework done, the properties were able to give sufficient returns and I could move on to the next property.
Accessibility. I feel Penang should have the LRT. Nevertheless, you cannot find many places in the world where the beach and the shopping centre, the national park, a HUGE dam and even the most advanced manufacturing factories exist near / next to each other. You can have a great job but if you need to drive 2 hours to reach the nearest beach or be jammed for 30 minutes just to park your car in a departmental store, it’s not ideal. In Penang, no matter which part you buy, you are close to nature, modernity and of course great food. Accessibility to good jobs, shopping, nature and food. Jam is increasing though.
Potential capital appreciation. Penang is a very small state. In fact, the island itself is not even half the size of Singapore. Land space are thus limited and as urbanisation continues to happen where people from smaller towns finish their education and work in Penang, the need for properties grow. This meant the price too. With the second Penang bridge, the potential for mainland properties to increase in price increases too and this augurs well for the whole Penang because if everyone only want to stay inside the island, imagine what would happen to the price!?
These are the three main reasons why I love Penang properties and will continue to look for opportunities.
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