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Buying Penang properties near cemetery?

Posted in Property Penang

I read an article recently about buying properties next to cemetery. I would think any sane buyer would definitely avoid buying next to the cemetery. However, I have to admit that two of my properties happen to be nearby or opposite cemetery. How did both of the properties fare thus far? Well one has given me very good returns while another one would only start building next year. Why did I buy them? Good question. In fact, I have doubts as well. Especially for the one in Tanjung Tokong, called The Peak. Now to tell you the story of me buying the condo.

I was at the sales office, interested to buy a unit as the price per sf was still very low then. In fact, not even RM300 psf. This was despite other condominiums nearby the area being higher already. I was enquiring and asking quite a lot of questions to the sales person who answered everything impeccably. It was as if she had answered this a thousand times! I wanted to buy because I felt that the price would go up easily since it is such a low price psf. It was also a calculated risk because if The Peak prices does not go up a lot, I could just sell off the place I was staying then, Regency Heights and move to The Peak. Granted, it’s a smaller place but that’s the worst case scenario.

In the end, I bought a unit, my brother in law bought a unit and my father in law bought a unit. Recently my brother in law sold his unit for profits which a medium income owner would not earn for many years. The price he sold was RM580 psf.

What about my second property facing the cemetery? Well, I had the same argument when I paid deposit to book it. The price psf was still very cheap despite the condo having individual lifts opening ONLY at your doorstep. If it does not really go up a lot, I will just move from Regency Heights and sell Regency Heights. At this point in time, I am not so sure how this second one would turn out but chances are by the time it is completed, I would not need to take any action beyond putting it up for sale for a good profit, hopefully.

My take? As long as the view from your condo is not facing it directly and you have really done sufficient homework about the developer, the pricing in the area, the potential appreciation and a host of all the usual like location, price and design, I would think it is safe to buy properties CLOSE BY to cemetery.

 

Suggested next article: Penang properties around RM250k

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