bakedbean

Property prices on Penang island are the most expensive in Malaysia. I think we knew that, didn't we? Good for those of us who already own properties, but for those looking to buy..... hmmmmm

Socio-Economic and Environmental Research Institute (SERI) senior fellow Dr Michael Lim Mah Hui said the average house price last year (2009) was RM540,000 or eight times the average household income.

In comparison, the average house price in Kuala Lumpur was only RM390,000, or six times the average household income.

Lim said the average house price on the island has increased further this year.

http://www.apartment-penang.com/sear...s%20Dec%202010

redbean

Looks like the redbean will be renting. Don't mind stopping over in KL but I prefer Penang.

bakedbean

I was just browsing through apartment-penang website (I get email feeds from them) and saw this place for RM 85,000 http://classified.apartment-penang.c...erty/3024.html so it seems there are cheaper units about if you look around.

Of course us foreigners wouldn't be allowed to buy something at that price, and it looks a bit of a shoebox heh heh - and would you really want to live in Gelugor? Maybe not.

ex reg

Are you shewer that price isn't for the furniture because that's all they show in the photos.

bakedbean

Ha! Maybe the furniture is the best bit.

sandcastle

I didn't. I like Penang best but thought KL had the highest rates. It is nice for those of you that own places already :-)

redbean

Don't mind if it is a two bedder but must have water views. I think I am asking too much but of course I am prepared to pay a bit more.

bakedbean

Any water views?? There seems to be a lot of building going on in the south of Penang that looks interesting and not as expensive as the north end. Of course the second bridge is being built down there and coming along fine.

There's got to be some affordable smaller units around Bt Ferringhi or Pulau Tikus with sea views, some of the older condos?

redbean

Sea view would be nice. Don't care if the condos are older or smaller as I am still into minimalist living, as long as they are well prices............whatever that means!

Strider24

Had a look at Kuching and surprised to find prices in the KL/Penang range. I note Penang will allow 2 units at min RM150k, which made me think of some lovely old shop houses. Make downstairs into garages and open 2 adjoining upstairs to make a nice apartment.

Don't know Penang well, but seem to remember some shop-houses on west, or was is south side close to water

bakedbean

There's quite a lot of shophouses around Georgetown and up the Pulau Tikus end, but nightmare traffic in Georgetown

Apparently they are building some new shophouses up Jalan Fettes, across the road from Prima Tanjung (if you know where that is) and also adjacent to Island Plaza - all in Tanjung Tokong.

redbean

If you live in GT, you can walk, thereby minimising your carbon footprints. I know that Penangnites have a horror about using their feet to get to places, possibly because of heat, humidity and the constant injection of carbon monoxide factors but I prefer to walk then being stuck in the traffic jam.

Wouldn't mind if I can afford to buy a shopfront close to the E&O or the Convent school.

bakedbean

Now... what about all these people that take several flights a year? What's their carbon footprint like?

Yeh... I know... off topic, heh heh.

redbean

To keep the economy going and to support Malaysian tourism!

bakedbean

ah okay, good on ya redbean