Taman Teratai, a new residential development by Ng Khye Soon Construction Sdn. Bhd. in Sungai Bakap, Penang. It is located immediately opposite of Taman Kuang, only a few minutes drive away from SRJ(C) Chong Kuang. Many other amenities such as convenient stores, banks, eateries and markets are also just a short drive away.

This development comprises 29 units of extra-large 2-storey terrace houses with 3 different design types. The smallest type has a built-up area of 22ft x 45ft. All units are designed to face North-South enhancing natural ventilation.

Estimated driving time (based on Google map):

• To Penang main bridge toll – 27 minutes
• To 2nd Penang bridge toll – 15 minutes
• To Bayan Lepas FTZ via 2nd Penang bridge – 35 minutes
• To Auto City – 23 minutes
• To Bandar Tasik Mutiara – 15 minutes
• To Jit Sin High School Branch (under construction) – 8 minutes

Property Project: Taman Teratai
Location: Sungai Bakap, Penang
Property Type: 2-Storey Terrace
Land Area: 22′ x 65′ onwards
Built-up Area: 22′ x 45′(Type A), 22′x 48′(Type B) and 22’ x 50’(Type C)
Tenure: Freehold
Total Units: 29
Indicative Price: RM 448,888.00 onwards
Developer: Ng Khye Soon Construction Sdn Bhd

Location Map:

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In an effort to keep the comment section from being flooded with property advertisement, we are now giving you a more effective way to advertise your property online without interfering the discussion in the comments. Most importantly, it’s FREE!

Here is how you can start posting your property for sale/rent:

• Sign-up for a FREE premium account to post unlimited property advertisement at our classified site – PenangPropertySale.com.
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• You can now start adding new listing
• Select the “Related Project” if the unit for sale is related to one of projects listed in PenangPropertyTalk.com.

Take a look at how your property will be listed in PenangPropertyTalk.com:

1. Related Classified Ads

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3. Featured Agents

Property agents who are active in the past 30 days will be listed under the Featured Agents page.

On average, we have deleted about 40-50 property ads spam from the comments. We hope this is a more effective options to help you advertise your property while keeping the comments clean.

For contact information and other advertising options, please refer to our advertising page.

A coastal ferry ­service with multiple terminals to shuttle people and cars from one point on the island to another may become a reality by the next decade.

This follows the willingness of the Penang Port Commission (PPC) to hand over ferry services to the state government.

Sources in the state government said the idea cropped up last year during the development of the Penang Transport Master Plan.

“The plan is to build terminals for ferries to shuttle between Butterworth, George Town, Gurney Drive, Gelugor and Bayan Mutiara near Queensbay Mall,” the source said.

Another source within the Penang Transport Council said such an idea was “beautiful as it would be easy to do”.

“We won’t have to build roads, just terminals and then use the surrounding sea. It will be cheaper compared to building more roads on the island.”

The source said the plan included high-speed passengers-only ferries and also ferries that would transport cars, motorcycles and bicycles.

“Not everyone will be willing to be only pedestrians. If they are not in a rush, they can drive into ferries from one side of the island and take a slow ride to the other side. This will play a great role in reducing island traffic.”

The source added that such a ferry service was contained in Level Four of the transport master plan, which was projected to cost RM11.7bil.

In welcoming PPC’s willingness to hand over the ferry services, Chief Minister Lim Guan Eng had asked for permits for purchases of 30 additional ferries to go with the deal.

He said the coastal ferry service plan would be explored in greater detail if the ferry service was handed over to the state.

“To make the service viable, we must have a scale. That is why we ask to operate 30 ferries. If we have too few, then it won’t be viable.”

Meanwhile, Penang Port Sdn Bhd (PPSB) chairman and chief executive officer Datuk Mohd Sidik Shaik Osman said the idea was good if there was a demand for such a mode of public transportation.

“However, under present circumstances where the fare is regulated and kept at the very minimum, I’m not sure if it will make economic sense. It will only be viable if the operator is given government assistance or subsidies, or given the opportunity to set their own fare and rates.”

Mohd Sidik also noted that from Penang Port’s experience, the waters around the island could be choppy at certain times of the year and safety was of paramount importance.

PPSB is the current owner and operator of Penang’s ferries.

Source: TheStar.com.my

As usual, half of the top 10 list are dominated by affordable housing projects with Ramah Pavilion being the most active one in April. Obviously, it’s very happening at Ramah Ravilion. Many buyers have already received their offer and some started to apply for loan.

1. Ramah Pavilion
2. The Tamarind
3. One Foresta
4. Vertiq
5. Edge 360
6. The Rise (Chelliah Park City)
7. TRI Pinnacle
8. Affordable @ The Clovers
9. Urban Suites
10. The Clovers

Surprisingly, The Rise (formerly known as Chelliah Park City) and Tri Pinnacle affordable housing projects seem significantly quieter than before. Recorded 50% less traffic in April as compared to March.

OC has just been issued for IJM’s The Vertiq in April. That explained why the project is very active recently.

Edge 360 is a newly launched project located at Bukit Dumbar, just a mere minutes drive from Tesco hypermarket.

Stay tuned for the next statistics in first week of June.

* Projects are ranked based on the actual number of clicks & views in Google Analytic web traffic report for PenangPropertyTalk.com.

PREVIOUS MONTH: 10 Most Popular Projects in March 2015

The residential property market in Malaysia is showing signs of recovery last year after facing a dip in transactions from 2012.

According to recently released figures by National Property Information Centre (NAPIC), the number of residential property transactions in Malaysia have increased from 246,225 units in 2013 to 247,251 units in 2014, an increase of 1,026 units or 0.42%. The total value of transactions between 2013 and 2014 had also similarly increase from RM72.06 billion to RM82.06 billion, an increase of RM10 billion or 13.88%.

The increase in transactions is particularly noticeable in the primary market – new residential units launched by developers – which saw an increase from 41,190 units in 2013 to 53,777 units in 2014. This is an increase of 30.56% or 12,587 units transacted in the primary market. This also means an increase in value of transactions for the primary market from RM13.92 billion in 2013 to RM20.94 billion in 2014, an increase of 50.43% or RM7.02 billion.

However, the secondary market continues to show a slight drop since 2012 from 214,044 transactions in 2011, 212,428 units in 2012, 205,035 units in 2013 to 193,474 units in 2014. It was only a slight drop of 5.64% or by 11,561 units while the value of transactions went up by 5.13% or RM2.98 billion as the total value of secondary
market units transacted showed a rising trend from RM51.81 billion in 2012, RM58.14 billion in 2013 to RM62.12 billion in 2014.

Over in Penang, the total number of property transactions in the state had increased by 4.01% or by 710 units from 17,700 units in 2013 to 18,410 units in 2014. The total value of transactions between 2013 and 2014 had also similarly increase from RM7.09 billion to RM7.58 billion, an increase of RM490 million or 6.91%.

Again, the primary market in Penang also recorded increases while the secondary market showed a slight drop both in number of transactions and value of transactions. The primary market in Penang indicated a 48.91% increase in total transactions or an increase of 1,345 units to 4,095 in 2014 from 2,750 transacted units in 2013.

Meanwhile, in the secondary market in Penang, there was a 4.25% drop in transactions from 14,950 in 2013 to 14,315 last year. The value of transactions also saw a slight drop of 1.84% from RM5.88 billion in 2013 to RM5.78 billion last year.

A significant drop of transactions priced below rm100,000 to 3,460units in 2014 from a high of 10,436 in 2011 is a cause for concern.

Valuation Consulting & International Real Estate Company Raine & Horne International Zaki + Partners Sdn Bhd’s senior partner Michael Geh noted the overall increase in transacted units as a sign of the property industry
recovering from the continuous dip since 2012. “This could mean that the residential property market has hit bottom in 2013 and is looking up since mid – 2014,” he said.

He added that possible reasons for this upwards spike is the last minute rush by homebuyers to buy one before the implementation of GST. He does not see GST negatively affecting the residential property market much this year as House Buying is a nessesary act from the young couple new home forming, home upgrading to the empty nest selling for the elderly.

“It is hoped that Bank Negara will relax some of the loan requirements for first time home buyers and this will see continued interest in the residential property market,” he said.