I was in Penang last weekend for an important lunch. As I was driving past the second bridge, I noticed that the condition was exactly the same when I drove across it last month and two months before. There were very few cars on the bridge! Ok, what’s the significance of that? These days, you often hear about people talking about the potential of Batu Kawan. Thus, you may feel that it’s time to buy something and wait, perhaps just 3 years later, you will get huge returns. Based on three key criterias, you may be right. First one is the second bridge is ready, second one is, there are already huge integrated plans and third would be top developers are buying up huge tracts of land. So, it’s just a matter of time, right?
Well, add one more sign which I think is more relevant. Number of cars using the second bridge. Seriously, if the number of cars start to increase, you can be sure that there are more economic activities. Without any significant changes in the number of cars, I think the situation is still the same. Come on, Penang island may be expensive but for those who are working in Bayan Lepas, they may still choose Teluk Kumbar or even Balik Pulau over Batu Kawan at this moment. It takes more than just prices to lure buyers. The concept has to be very attractive. The developers should have a huge following which would enable them to price at a premium and thus have the ability to build something beyond the usual.
I read in a article that instead of Gated and Guarded, the trend is now moving towards Green, Gated and Guarded. Actually, Green is not considered a new trend. Balinese concept many years ago was already GREEN. Lots of trees, plants, flowers etc. For this concept to work in Penang island, be ready to admit you cannot afford one. However, I think this is a concept which is applicable, especially in huge integrated developments. Thus, mainland Penang may be the next place to carry this out. I await the first of such launches from a reputable developer. I sort of also know which developer would fulfill that criteria first.
written on 1st Oct 2014
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