Here is a snapshot of the most popular residential areas and projects in Penang among homebuyers.

The sales and purchase data are captured from the Valuation and Property Services Department (JPPH) that has been compiled by brickz. This is based on the review period between January 2018 and December 2018. We round up the top areas and projects in Penang for anyone looking to maximise their properties’ potential.

Highlights

• The top 2 most popular areas are in the Penang mainland.
• Bukit Mertajam is the most popular area in the whole of Penang.
• The terrace house is the most popular property type in the whole of Penang.
• Bandar Tasek Mutiara is the most transacted project in the whole of Penang.

1. What are the top 5 areas in Penang?

Here are the top 5 areas in Penang based on the review period between January 2018 and December 2018. The data compiled by brickz is ranked by the number of transactions.

Based on the data presented, the two most popular areas are in Penang mainland (Seberang Perai). One of the contributing factors could be the affordable alternatives for property ownership compared to Penang island, especially for landed houses.

Bukit Mertajam is the most popular neighbourhood among homebuyers in 2018. This could be due to affordable housing developments in the area. It has an affordable median price of roughly RM 300k. Not just that, Bukit Mertajam is also a mature area and a major town in Seberang Perai. The Bukit Mertajam town is about 11 km from the Penang Bridge and has direct access to the North-South Expressway Juru Interchange. Besides, Bukit Mertajam has various tourist attractions such as St. Anne’s Church and Hock Teik Cheng Shin Temple.

Next is Butterworth. It is an industrial town and the largest town in Seberang Perai. The median price of a property in this area is RM 330k. According to the 2010 census by the Department of Statistics Malaysia (DoSM), Butterworth is the largest town by population within the Seberang Perai municipality. In terms of transportation, the ferry service links Butterworth and Georgetown while the KTM Butterworth station is about 700 m from the ferry terminal. Butterworth also serves as the Royal Malaysian Air Force (RMAF) base.

Fun fact:
The median built-up sizes in Butterworth is almost twice the size (1,000 sf compared to 700 sf) of properties in Jelutong. This means buyers are getting bigger houses in Butterworth for roughly the same price as a smaller house on the Penang Island.

Jelutong is in the suburb of Georgetown. It is the only area in Penang island that is in the top 5. This area is set to be the next hotspot in Penang with plans by the state government to turn a 40ha landfill into an eco-futuristic town. The ¬The median price for a property in Jelutong is RM 339k and the median per square foot (PSF) price is RM 450. Jelutong accessibility to the Georgetown City Centre is convenient via the Tun Dr Lim Chong Eu Expressway although the built-ups are smaller than properties in Butterworth.

2. What are the top 3 projects in major Penang areas?

Sanctuary Garden is the most transacted project in Bukit Mertajam. It features freehold 2-storey Semi-D houses. Units come with 4 bedrooms, 3 bathrooms, and 2 parking spaces. This area is about 20 km to the Penang Bridge while the second bridge (Sultan Abdul Halim Muadzam Shah Bridge) is about 17 km away. Not just that, Sanctuary Garden is about 3 km to AEON Mall Bukit Mertajam and Tesco Bukit Mertajam. Furthermore, the KTM Simpang Ampat station is about 5 km away from Sanctuary Garden while Juru Auto City is 20 minutes’ drive away.

The most transacted project in Butterworth is Taman Bagan. It includes double-storey terrace houses and single-storey terrace houses. Property prices in Taman Bagan are ranging from RM 402k to RM 800k. This residential area is in a prime location with many amenities within its reach. The Butterworth Ferry Pier is within 5 km radius while the KTM Butterworth station is about 4 km away.

The station also serves the Butterworth – KL ETS train service. Besides that, the Sunway Carnival Mall is within 4 km and Penang Bird Park is about 9 minutes’ drive away. On top of that, Taman Bagan also has easy access to the Butterworth- Kulim Expressway. It is linked to the North-South Expressway and other parts of Seberang Perai.

Desa Pinang 2 is the most transacted project in Jelutong. It is comprised of flats that range in size from 527 sf to 614 sf. Desa Pinang 2 is located nearby Tun Dr Lim Chong Eu Highway and amenities are within reach. Komtar Bus Terminal is 3.2 km away while Weld Quay Bus terminal is within 3.5 km. Furthermore, the Penang Ferry Terminal is about 4 km away whereas Georgetown City Centre is about 6.6 km or a 22-minute drive from Desa Pinang 2.

3. What are the hot-selling residential properties in Penang

• Terrace: 2,465 transactions
• Flat: 1,700 transactions
• Apartment: 1,691 transactions

Terrace houses are the hottest selling types of property in Penang. All top 3 areas are in the Penang mainland. This is due to the more affordable price range compared to properties in Penang Island, as well as more options for landed properties. Bukit Mertajam recorded the highest number of transactions for terrace houses, with prices ranging from RM 43k to RM 988k. The built-up size ranges from 594 sf to 2,964 sf while the median price for a terrace house is RM 330k. The properties include the auctions, sub-sales and new launches.

Flat is the second hottest-selling property type in Penang. A total transaction of 1,700 is recorded last year while Ayer Itam recorded the highest transaction. The median price for a flat in that area is RM 120k with a median built-up of 538 sf. Based on our listings at iProperty.com.my, the flat built-up size in Ayer Itam ranges from 400 sf to 860 sf. The price starts from Rm 75k to RM 350k. These flats are all the auctions and sub-sale properties.

Apartment/Condominium is number three for the hottest selling property type in Penang. It recorded 1,691 total transactions last year. Jelutong recorded the highest number of apartment transactions in the whole of Penang. The median price for an apartment unit in Jelutong was RM 350k. The price ranges from RM 31k to RM 980k and built-up size ranges from 470 sf to 2,000 sf. These are all unfurnished, partly furnished and fully furnished apartments.

Note: Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

*Article contributed by iProperty.com.my

Bukit Mertajam is moving towards becoming the first digital city in Penang by August 2020 and will employ a concept that integrates information and communication technology (ICT) devices to monitor its environment, operations and services.

The state government’s technology partner, Smartviro Sdn Bhd, will undertake the project which aims to provide a better quality of life for Bukit Mertajam folk through the integration of the latest technology in their daily life.

Smartviro director Datuk Lee Aik Heng said air and noise pollution monitoring stations have been set up at several locations in Bukit Mertajam and this will be followed up with water pollution monitoring stations.

He said the work to develop the monitoring stations started this month and will be completed in August next year.

“Eventually, we would also include traffic cameras, facial recognition technology and student locater programme using the global positioning system (GPS) in this initiative,” he told a press conference here yesterday.

Meanwhile, Penang Women and Family Development, Gender Inclusiveness and Non-Islamic Religious Affairs Committee chairman Chong Eng said the process of transforming Bukit Mertajam into a digital city would take an area of up to 18 sq km involving 20 housing estates and surrounding areas, which costs RM500,000.

“The main objective is to provide a better quality of life using the latest technologies to communicate (information) on environmental quality and pollution source, awareness of traffic congestion, transport, services and goods, security and energy efficiency, and sustainable economic development,” she said.

Source: EdgeProp.my

A newly proposed development by Frasers Paragon Sdn. Bhd. at Batu Ferringhi. Strategically located along Lorong Sungai Emas, adjacent to Iconic Vue affordable housing scheme. It is only a few minutes walk to the famous stretch of Jalan Batu Ferringhi.

This development will see the construction of 14-storey serviced apartment, featuring 140 units of serviced suites with swimming pool and facilities located at top floor.

This is still in proposal stage. More details to be available upon official launch.

Project  Name : (To be confirmed)
Location : Batu Ferringhi, Penang
Property Type : Serviced residence
Built-up Area : (To be confirmed)
Total Units : 140
Tenure : Freehold
Developer : Frasers Paragon Sdn. Bhd.
Last Updated: July 2024

Location Map:

by Anders Ong

The trend had changed from years to years, ten years ago most property investors only had a few selections of new property development to invest and a few hot spots to choose. Today the market is wider and diverse with many developments planned by the Penang state government and property developers.

Besides, younger generations are now looking at property investment by the time they graduated from their studies. It is becoming a story of the past where only people who are stable with a certain saving of cash are being able to invest in property.

Today the main problem with property investment might not be the accumulation of down payment or searching for a project to invest. Because, there are a lot of projects to invest with attractive packages and promotions offered by developers for younger and new markets as most seasoned investors already full of properties in their investment portfolio.

Thus, with so many choices for investment many people are spoilt with project development choices and might invest blindly without any basic property investment fundamental. Below are 4 criteria a new project need to have and fulfill to ascertain it is worthy for investment:-

1. Development Zone – Areas that undergoing major improvement and development due to government initiative in providing better infrastructure and amenities. For example, areas that will benefit from the approval of Penang LRT by the Transport Ministry.
   Ref: https://www.penangpropertytalk.com/2019/07/bayan-lepas-lrt-project-approved-by-transport-ministry/

2. Location Demographics – The income range and demographic mixture of an area need to be understood in order to know the type of property in demand and price affordable to the future market segment in the area.

3. Media Attention – Reporting of development areas in papers and government coverage can also be good and bad for property investment. For example, the coverage of First Phase of IKEA Integrated Shopping Centre to Open by End of 2019 which will benefit the development in Batu Kawan.
   Ref: https://www.penangpropertytalk.com/2019/07/first-phase-of-ikea-anchors-mall-to-open-end-of-2019/

4. Early Stage of Development – For new township development, it is better to be the first batch of purchaser as developer next project prices usually will be higher, the property will be smaller in size or higher density which can result in lower return of investment.

5. Technical Analysis – This is one of the most basic fundamental to study for safe net of property investment but it must have the above 4 points to have a higher return. For example, the comparison of location distance, price per square foot, size of the units and facilities offered. But not all low price properties are good investment and not all high priced properties are bad for investment such as Trophy Property and Run Down flat.

More FREE Fundamental Sharing on How to Spot & Invest in the Best New Property Development in the Market by Anders Ong at Borders public sharing:-

Date: 27th of July 2019
Time: 3.00PM – 4.00PM
Venue: Borders @ Queensbay Mall, Penang.
RSVP: https://bit.ly/2SwYh6c (Seats are Limited – FREE)

Anders Ong – Speaker, Property Consultant, Young Property Investor, Enthusiast of Real Estate, and Author of Back To Property Investment To Create Wealth

The Malaysian property market is showing signs of bottoming out, underpinned by government-driven initiatives such as the ongoing Home Ownership Campaign 2019 (HOC).

Knight Frank Malaysia managing director Sarkunan Subramaniam said in a statement yesterday that Malaysia’s property market is poised to gather more momentum moving into the second half of 2019 as the market is “firing various cylinders”.

In the same statement, the property consultancy said the HOC (which was extended six months till the end of 2019 from June 30 initially) will continue to stir interests among homebuyers while providing an opportunity for developers to clear existing stock.

“The first half of the year also saw the launches of a few high-end condominium and serviced apartment projects on pockets of land in Kuala Lumpur city.”

Sarkunan is optimistic that the HOC will provide further traction to the housing market, including the high-end condominium and serviced apartment segments.

“Many developers are participating in the HOC as it presents a good opportunity for them to clear their existing inventories and is positive for the residential market,” he said.

The main incentives of the HOC include a minimum 10% discount on the property price from developers, stamp duty exemption on property sales and purchase agreements for properties priced up to RM1mil and stamp duty exemption for loan agreements up to RM2.5mil.

On the commercial sub-sector, Knight Frank Malaysia said the looming supply and weak absorption continues to impact the Klang Valley office market, with rental and occupancy levels seen to be holding firm in the KL fringe and Selangor.

“The availability of good grade office supply at competitive rentals and the expanding public rail transit lines have boosted the popularity of decentralised office locations,” it said.

Knight Frank Malaysia valuation and advisory executive director Keith Ooi was of the opinion that in the tenant-led office market currently, landlords need to be realistic on their rental expectations.

He said the growing co-working/shared services segment provides a small window of opportunity for letting.

“Retail sales growth has improved although consumers remain prudent in their spending amid rising cost of living and slower income growth.”

Ooi said mall operators are allocating a higher percentage of their leasable space for experiential retail purpose, while more retailers are integrating their digital and brick-and-mortar outlets in line with rapid changes in retail trend and consumer behaviour.

‘’Despite heightened competition in the retail market, prime malls continue to enjoy high occupancies with most garnering single-digit growth in terms of rental reversion,” he said.

Source: TheStar.com.my