maxwellreid

Thanks, I was thinking that the 3-4 weeks I have to do groundwork, starting around the West coast (North), Penang Island. I have had some ideas about eventually buying a shop front (next trip)- is that the correct term? Only thing is I would need to be sure I could lock it up and leave it. I would probably not restore a run down one, but would maintain it. Maybe a bathroom. How feasible would it be to buy one? My budget (such an impolite thing to mention) is 500-900K RM. Georgetown, has a few?. A advantage of PI is also the airport, which seems to act as hub.

thanks again Max

maxwellreid

To push that concept, of buying a shopfront, would it be possible to rent out the "front" to a local business? I am not, not looking for a money making sideline, but more as a way to become part of the community and rather than closing down part of the street. Any thoughts?

bakedbean

You can buy a shophouse in Penang for sure. There are plenty around Georgetown. I've also seen some new ones being built around Tanjung Tokong. I've not a clue about prices though. Maybe just have a google around - there's loads of Penang property websites.

I'm pretty sure that shophouse and shophouse renovation was discussed on my2home recently. I'll take a look tomorrow and see if I can find a link.... or you can take a look yourself.

bakedbean

Just had a little look on my2home. There's quite a lot of stuff on there but I think I may have given you a bum steer there. On this thread here....

http://www.my2home.info/index.php/to....html#msg15592

one of the posters says "My2homers can only buy residential properties so I guess a shophouse isn't allowed. But they're great to rent". If that's true, then probably applies to all "foreigners" I guess.

columbine

A few years ago an old run down livable shop house could be gotten for under rm100K. But since Georgetown was made 'Unesco' the prices have shot up. I think I saw on some ads that a very run down and not liveable one is already in that price range (no windows, termite infested etc).
But you could still explore off the beaten track outside the 'Unesco' protected boundaries eg side roads within the boundaries of Jalan Anson, Jalan Dato Kramat, Jalan Macalister and Jln Perak .... Some of these were old shop lots and are now converted to residential houses as they were off the main roads and the prices could vary quite a bit depending on the size, condition and off or near the main thoroughfare.

bakedbean

But are you allowed to buy one as a Foreigner. The guy on my2home thought that you couldn't, or is that info out of date?

maxwellreid

i'm guessing that so long as you are not buying a business and you want to convert to residential, all is ok?

bakedbean

I dunno. I'm no expert I'm afraid.

columbine

I heard of at least one MM2Her who bought one old one (also read about it in the local papers a few years ago with their photos and all! ) renovated it, lived in it, the downstairs was a cafe/restaurant claiming to be a stopover rest place for the weary MM2Hers/info place for potential MM2Hers I believed when the price was right they sold it! Any thing goes here it seems

bakedbean

Didn't they get fined or something for "running a business" as was perceived in the eyes of the authorities? If that's the same couple.

columbine

Last heard was the place was sold. Don't really know what happened exactly as it was 'permitted' under the previous state govt it seemed. Maybe we could be talking about the same couple

Also read in the papers of another MM2H couple who bought an old shop, did it up really nice following the heritage reno guidelines - saw the photos in the papers a while back. They used it as a residence according to the news. So it seems permissible if purely for own residence and not business

maxwellreid

yes, the shophouses in the main part of Georgetown have price tags outside my range. There was an feature article in the New York Times on Georgetown, so it is well on the map as being unique.

maxwellreid

Visited the triangle outside the unesco area that Colombine suggested. Rained on and off. Saw some great shop houses, some were in great condition, others were burnt out. The previous day talked to a renter of a shop house in the Unesco area and he told me that one person had taken 15 years to buy the whole row and they were all empty. He told me that the owner wouldn't want to sell me one. My guess he has other plans.

bakedbean

Yes, it's a funny ol' Dry Season this. You've been a bit unlucky with the weather so far. That's a shame about the shophouses.

columbine

The rainy season started real early this year. Normally it's awfully hot and dry over CNYear, but this past one was cooler and even a few good rain. Then we're supposed to be dry till April, but March feels like April with all that thunderstorms and torrential rain.
Maxwellreid, hope you find a row house you like ... maybe not in G'town but further out.