It’s pretty common for our readers to approach us to enquire about the latest property market in Penang. Here is an infographic on property hotspots in Penang. Hotspots is defined as the location where the top 20 most active projects in 2017 are located, along with the price ranges of the respective properties within that location.

In Penang, any location can be a property hotspot as long as you have the right product in the right location selling at the right price.

* Most active projects are ranked based on the pageviews recorded in Google Analytic web traffic report for PenangPropertyTalk.com.

The government’s target of building one million affordable housing units (RMM) is expected to be achieved by year end, according to the urban well-being, housing and local government ministry.

The ministry, in a written reply to Wong Tien Fatt (DAP-Sandakan) in Dewan Rakyat yesterday, said until April, the total number of RMM units targeted for construction was 875,490, of which 237,738 units had been fully completed. Each RMM unit’s selling price is set at the maximum RM300,000.

According to the written reply, Kedah recorded the most number of RMM homes that had been completed at 42,131 units, followed by Selangor (34,344 units), Johor (25,410 units), Perak (20,952 units), Melaka (17,750 units), Sabah (17,665 units), Terengganu (15,906 units), Pahang (14,650 units), Penang (13,278 units), Kelantan (12,893 units), Kuala Lumpur (5,810 units), Sarawak (5,220 units), Putrajaya (1,123 units) and the Federal Territory of Labuan (172 units).

About the Rent To Buy scheme, the ministry said although it is currently only available for homes under the People’s Housing Programme, it has the potential to be extended for the purchase of housing units developed by other agencies and state governments in future.

Source: TheEdgeProperty.com.my

The Essence, the second residential project at The Light City within the established township of Gelugor. Located at the northern part of The Light City, less than 3 minutes drive to Penang bridge.

This residential project will house 315 units of homes over two 37-storey residential towers. It is expected to launch after The Mezzo.

More details to be available upon official launch.

Property Project : The Essence @ The Light City
Location : Gelugor, Penang
Property Type : Residential
Tenure: Freehold
Total Units : 315
Indicative Price : (to be confirmed)
Developer : IJM Perennial Development

Location Map:

A newly proposed residential development by HYZ Realty Sdn. Bhd. at Persiaran Relau/Jalan Kampung Batak in Sungai Ara. Located adjacent to Sierra Residences and Imperial Residence 2, about 3km away from Setia SPICE. Other surrounding communities include Skycube Residence, Gardens Ville, Idaman Lavendar 2 and Zan Pavillion.

This development will see the construction of two high-rise residential buildings:

• 33-storey condominium (142 units)
• 12-storey condominium (42 units)

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

Property Project : (to be confirmed)
Location : Sungai Ara
Property Type : Condominium
Tenure: Freehold
Total Units : 184
Indicative Price : (to be confirmed)
Developer : HYZ Realty Sdn. Bhd.

Location Map:

I-Residences, an upcoming mixed development by Ideal Property Group at Island Glades, Penang. Strategically located within an established neighborhood near Jalan Bukit Gambier, less than 5km away from University Science malaysia (USM) and Penang Bridge. Neighbouring communities include Oasis Condominium, Raffles Residence 199, Mutiara Court and etc.

This development comprises 2 blocks of 44 & 46-storey buildings, offering a total of 855 condominium units. There will also be 66 units of 3-storey shop offices.

Project is still pending for approval. More details to be available upon offical launch.

Project Name: I-Residences
Location : Island Glades, Gelugor
Property Type : Mixed development
Built-up Area: (to be confirmed)
Total Units: 855 (condo), 66 (shop office)
Indicative Price : (to be confirmed)
Developer : Ideal Capital Venture Sdn. Bhd. (Ideal Property Group)

Location Map: