If we look at Penang nowadays new condo projects which cost around RM 500K in average for 1000 sqft area, it would cost about RM per sqft
Comparing to Hong Kong, a case in point – a 26-year-old government-built apartment of 420 sq ft in the Sham Shui Po area of Kowloon district was transacted at HK$1.98mil, or HK$4,714 per sq ft. which is around RM2600 per sqft !
Does Hong Kong pops its bubble yet? It has been surging up for years due to their unbalanced population and land area.
In fact we are very similar to Hong Kong in terms of geographical landscape , we all have the same problem of land scarcity. I believe that sooner or later Penang will have its housing price continue to rise in a healthy pace. Which means, more expensive houses are waiting for the next generation.
However, we should not be reckless to invest by merely taking Hong Kong as a guide since Malaysia has a different economic structure and stability with HK. Property price will be higher in Penang in the future for sure and we as investors could earn from it significantly, just make sure that we do not buy overvalued properties as it would drag down our profit margin of safety and expose us to further risk of property bubbles.
Investing in property will hardly go wrong. Best time to buy will always be now.
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You can just leave a message or pm me if you wish to know more about available housing projects in Penang!
W.
