Rosy outlook for Penang properties

Penangites believe the prices of properties in the state will rise after the Penang Transport Master Plan (PTMP) is implemented.

Engineer R.H. Beh, 24, hoped that he could find a house before the market value increases further.

“Penang property market has been increasing for the past few years.

“As a first-time home buyer, I am looking for a home less than RM400,000 and near the Bukit Mertajam area,” he said when met at the Fair at Sunway Carnival Mall yesterday.

Lecturer R. Krishnan, 61, was looking for a house in Balik Pulau as the location would undergo rapid development once the first phase of the LRT project connecting Komtar and Bayan Lepas was completed.

“I think the market value of properties impacted by the LRT line would likely move upwards.

“We can see this happening,” he added.

UDA Land Sdn Bhd sales and marketing executive Abdul Wahab Fadzil said booking and registration for their new projects were quickly filled in.

“Our Arcadia Residence, to be launched in June, generated an overwhelming response.

“So far, we have obtained 80 registrations for RM39mil worth of properties,” he said.

BDB Land Sdn bhd sales executive Mohd Fazeri Ahmad said they received registrations for properties with approximate value of RM6.2mil in Jitra, Sungai Petani and Kuala Ketil.

“The sales and registrations are ongoing, indicating that buyers are always on the lookout for new developments.

“It is less likely that the property market will plunge in Penang,” he added.

Tambun Indah Land Bhd sales and marketing manager Khor Ghee Young said the group achieved sales of RM5.5mil for 11 units of landed and high-rise properties in Raintree Park 2, Avenue Garden and Pearl Tropika, which are located in Pearl City project in Simpang Ampat.

“The properties are priced from RM268,000 to RM600,000,” Khor added.

Bandar Kepala Batas Sdn Bhd senior executive Chong Wee Li said the Mekarsari project in Bertam, to be launched in May 2016, received 80 registrations.

“The Mekarsari project, comprising single-storey semi-detached houses and zero-lot bungalows, is priced from RM500,000.

“Since last November, we sold more than 50% of the units in phase III of Casa Innova, comprising 232 double-storey terrace houses.

The Casa Innova units are priced from RM232,000,” she said.

Meanwhile, engineer R. Vinesh Ram, 43, said projects located close to a transportation hub attracted house buyers.

“We want to know if the area is located near interchanges with proper access to main roads, public transport and schools among others.

“New infrastructures such as the LRT will drive up the value of properties.

“The LRT is hassle-free and one can travel to his destination with ease,” he said.

Former factory manager S.B. Chew, 60, said he preferred landed property to a condominium.

“Nowadays, affordable landed properties are located away from the city.

“Because of the location and pricing, my preference is for such landed properties although they may be located in the outskirts,” he said.

“Condominiums with good facilities are centrally located and are also expensive, although they may be good investments,” he added. - The Star

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