Despite the various challenges faced in 2015 and 2016, the property market still has much to offer in Penang, both on island and mainland areas – all the more when people are expected to start buying properties again by the end of this year as prices get properly readjusted and affordable housing made more available.
Interested to know where the current property trend is focusing on? Let’s take a final look at what the property market in Penang has to offer. Below is a useful list of where you can find the current buzz – the top 6 most active property projects in the Penang property market for the year 2016! In fact, the list can even be a useful guide as we look into 2017.
Check it out!
1# i-Santorini
Based on Penang Property Talk, the i-Santorini property webpage recorded the highest amount of traffic, almost doubling the number of page views of other popular property webpages.
Developed by the Ideal Property Group, this popular affordable housing development project is located in Tanjung Tokong. The 2,155 residential units for sale have a standard built-up of 850 square feet, and both parcels of this property also come with an 8-storey carpark. A total of 68 shop units are also included in its development plan.
This runner up is another development project handled by the Ideal Property Group.
This impressive waterfront development can be found in Bayan Bay, in front of Baystar Condominium – strategically located just minutes away from Queensbay Mall by foot. The condominium units will have a built-up of between 900 – 1,650 square feet, though the actual number of units have yet been made known through official announcement.
3# The Tamarind
For those who are looking for executive apartments, The Tamarind, which is only within walking distance of both Tesco and Straits Quay at Tanjung Pinang, would definitely be one of the properties currently on their talk list.
Ranked third in terms of online traffic and popularity, this project is run by E&O Property Development, comprising of twin 33-storey towers that house an estimated total of 1,104 service apartment units. The built-ups for these units are from 1,042 square feet onwards.
Here’s a place to go for to those who want to live away from the island congestion. Run by the Aspen Group, this project is located on the other side of the bridge at Batu Kawan at the Aspen Vision City, with an approximate GDV of RM620 million and an estimated time of completion by 2019.
The resort-inspired condominium units in the five condominium blocks are each priced between RM350 – RM380 per square feet, with built-ups from 1,030 square feet onwards.
Making its way to the rankings again is the Ideal Property Group – this time, through its mixed development project located at the Ideal Vision Park in Bayan Lepas, the Summerskye Residences.
Just minutes away from the Penang International Airport, this strategic development project offers a total of 507 freehold residence units from its two 19-storey condominium blocks, as well as an addition of 78 shop offices to potential business owners. The built-up sizes of the condominium units are available at 1,100 and 1,200 square feet.
6# One Foresta
The 6th (but definitely not the last one on the overall rankings in Penang property market!) on our list is this interesting i-condo affordable housing development, just within the vicinity of the Setia Pearl Island housing scheme in Bayan Lepas.
One Foresta is handled by Ideal Property Group, comprising of a total of four condominium blocks – offering a total of 2,685 3-bedroom residence units at 900 square feet each. Just like the previous mentioned Summerskye Residences, it only takes a short drive from One Foresta to reach the Penang International Airport.
Properties in Penang come in different types and sizes – it may be a little tricky to find what you want, especially if you are insisting to stay on the island, but it is not entirely impossible. Hopefully, with this list, you will be able to get yourself started with familiarizing with the current Penang property market – or even zoom in to one of these projects to get a unit for yourself.
Cheers!
