Another newly proposed affordable housing by Jernih Prospektif Sdn. Bhd. at Balik Pulau. Located along Jalan Pulau Betong, adjacent to Seri Balik Pulau Fire and Rescue Department. It is about 10 minutes drive to Balik Pulau town, under 20 minutes drive to Penang International Airport.

This development comprises a mix of affordable housing and shop-lots, to be launched in 3 phases:

Phase 1:

• 2 block of 16-storey affordable housing (1,224 units) – 650 sq.ft.
• Single storey shop-lots (8 units)

Phase 2:

• 2 blocks of 16-storey affordable housing (360 units) – 650 sq.ft.
• Single storey shop-lots (6 units)

Phase 3:

• 10-storey affordable housing (320 units) – 750 sq.ft.

This project is still pending for approval, more details to be available upon official launch.

Property Project : (to be confirmed)
Location : Balik Pulau
Property Type : Affordable housing and shop-lots
Tenure: Freehold
Total Units : 1,584 (650 sq.ft.), 320 (750 sq.ft.), 14 (shop-lots)
Indicative Price : RM150,000 (estimated for 750 sq.ft.)
Developer : Jernih Prospektif Sdn. Bhd.

Location Map:

No questions were left unanswered at the recent Property Convention 2017-Penang Edition by GM Training Academy PLT (GM), in collaboration with Penang Property Talk. The event that took place on 29th July 2017 at Vistana Hotel Penang saw the attendance of first time home buyers and property investors from all over the country.

This year, the BLT team that consists of Miichael Yeoh (Bank), Chris Tan (Law) and Richard Oon (Tax), offered their expert’s take on purchasing property the right way and minimizing risk when purchasing properties. GM’s founder and CEO, Michael Yeoh kicked off the event with an introduction of the company and its journey in the property industry.

The introduction was then followed by a presentation by the Owner of Penang Property Talk website, Ken Lim, who gave the attendees a full overview of Penang’s unique demographic and hot spots, as well as the skinny on its future growth, accessibility and impending public transportation plans. During his presentation, Lim also pointed out some catalyst projects which influenced the current prices and transactions such as Seri Tanjung Penang (STP 2), Gurney, Gelugor (The Light City), Paya Terubang ( Sunway Valley City), Batu Maung (Areca Mixed Development) and Batu Kawan.

Penang’s very own real estate giant, New Bob Group also joined the rank this year to tackle the subject of affordable homes and green building. Dr Lee Ville, New Bob’ Group Director, spoke about the benefit of Green Building and how it can positively contribute to the increase in a building’s value (7.5%) and a decrease in overall electricity consumption (25%).

The final presentation of the day was by property investment coach, Kaygarn Tan who supplied the attendees with insights on Penang’s property transaction and house price index. In his talk, he also highlighted the two important pillars of property investment: choosing the right property and having the access to money.

The convention concluded with a forum where the experts discussed topics involving Penang properties; while KK Goh, an investor and a property expert from Singapore, took on the topics of investing in overseas properties, particularly Vietnam and Australia, as well as the opportunities that await ASEAN countries with the completion of the High Speed Rail (HSR).

This story was first shared in iPropertyFocus on 08 August, 2017.

George Town and  Kuala Lumpur are the only two Asian cities to make the list in the Top 10 of The World’s Best Places to Retire in 2017 from Live and Invest Overseas (LIO), a much-respected international journal.

The list is quoted by Forbes magazine as having gone through a “seismic shake-up” too, because eight of the cities which made the list in 2016 were dropped.

The two Malaysian cities, ranked six (KL) and 10th (George Town), join six cities from Europe and two in Mexico into the esteemed annual list.

They are Algarve (Portugal, ranked 1 for the fourth year in a row), Valletta (Malta, 2 for second year), Mazatlán (Mexico, 3), Abruzzo (Italy, 4), Saint-Chinian (France, 5) Kuala Lumpur (6), Lisbon (Portugal, 7), Budapest (Hungary, 8), San Miguel de Allende (Mexico, 9) and George Town (10).

KL’s selling point, as home to more than seven million people, is that its “not quiet and remote, yet one of the world’s most affordable, exotic and comfortable places to retire”, according to LIO.

“Travel a bit out of the city and you’ll hit rural villages, where life is slower. Foreigners are welcome in Kuala Lumpur and almost everyone speaks “adequate English.”

On George Town, the capital of Penang state, LIO said it was “smaller and slower” compared with KL.

“However, the island has excellent medical care at reasonable prices and that locals communicate largely in English.

“ECA International called George Town the most livable city in Malaysia and a few years back, Lonely Planet dubbed Penang the top food destination in the world, with dining choices which include Chinese, Malay, Indian, Thai and more, going for about US$3 (RM13) a person,” LIO was reported to have said.

Forbes also noted that Malaysia, as well as Mexico, Malta and Portugal are the only countries which appear in more than one list on living, retiring and investing abroad.

According to Leif Simon, the investment editor of Live and Invest Overseas, many cities were dropped from the list because of rising costs.

“Part of it is that a lot of the areas we’ve talked about in Latin America, have become more expensive. And European destinations do so well on things like infrastructure,” he was quoted as saying by Forbes.

Source: FMT News

Nine developers will showcase a total of 2,747 affordable housing units in four districts at the south atrium of Queensbay Mall from 10am to 10pm.

State Housing Committee chairman Jagdeep Singh Deo said the affordable units would be open for registration from tomorrow till Sunday.

He said 867 low-cost (LC) units, 9,283 low medium-cost (LMC) units and 17,080 affordable units were being built under the state government’s 17 affordable housing projects.

“The state government will maintain its LC and LMC price at RM42,000 and RM72,500 respectively.

“We have even lowered the ceiling price of affordable housing on the island from RM400,000 to RM300,000,” he told a press conference on Monday.

Jagdeep said the expo, which was incepted in 2014, first showcased the state government’s own projects before it was joined by other private developers.

“It is important to hold this kind of housing expos to create awareness among Penangites on the availability of affordable units in the state.

“The state housing committee will also be present at the expo to assist in new applications, update current applications and attend to enquiries pertaining to the projects,” he said.

The projects available for registration are Dua Residensi and Hijau E-Komuniti (Bandar Cassia) by PDC Properties Sdn Bhd, Tri Pinnacle by Aspen Vision Ventures Sdn Bhd, The Park by Silver Channel Sdn Bhd, Ramah Pavilion by M Summit Corporation Sdn Bhd, Prestige III by PLB Land Sdn Bhd, Quinton by Prisma Bumiraya Sdn Bhd, I-Condo @ One Foresta and I-Santorini by Ideal Property Group, Granito by Taman Sri Bunga Sdn Bhd and Iconic Vue by Iconic Land Sdn Bhd.

Find out all 47 proposed affordable housing in Penang

Source: TheStar.com.my

More lower-priced affordable homes await first-time buyers on Penang Island as more developers are willing to build RM150,000 apartments on the island, ever since the state government’s lowering of maximum prices in one category last year.

State executive councillor in charge of housing Jagdeep Singh Deo said the state government has so far approved three projects in the RM150,000 category for 750 sq ft (minus finishing) homes.

“I am happy to announce that since the introduction of the RM150,000 for 750 sq ft homes, it has received good feedback from private developers.

“We have approved three such projects in the RM150,000 category. We received many more proposals for such projects which are now under review. By lowering the maximum prices, we are trying to make housing more accessible.

“We also previously reduced the maximum pricing of affordable homes on the island from RM400,000 to RM300,000. The response has been very encouraging,” he said in a press conference in Komtar here today.

The 750 sq ft (minus finishing) units were previously priced at RM200,000.

Currently, affordable homes on the island are capped at the following prices, based on the relevant size: RM150,000 (750 sq ft), RM 250,000 (800 sq ft), and RM300,000 (900 sq ft).

On mainland Seberang Perai, the prices are capped at RM150,000 (750 sq ft), RM 200,000 (800 sq ft) and RM250,000 (900 sq ft).

Find out full list of affordable housing in Penang

Jagdeep said the Penang government was also retaining the old RM42,000 and RM72,500 housing price guideline, despite being told to revise the pricing to RM60,000 and RM100,000 by the federal government.

He said those interested in purchasing homes can visit the “Mission Home-Possible” affordable homes fair at the Queensbay Mall from Aug 10 to 13. It will be held at the mall’s south atrium from 10am to 10pm.

“Those with questions on how to apply for homes can visit the expo, where officers from the Penang Housing Department will be there to assist new buyers and field questions,” Jagdeep said.

Currently, the Penang government is building 27,230 affordable homes while another 36,786 units are being built by private developers.

Source: FMT News