If you stay in Penang, mainland is considered a secondary choice. Island is the main focus and majority would choose to stay in island over mainland. Well, one major reason would also be due to the employment opportunities in the island. Think of any foreign multinational paying higher than the usual salaries and you would understand why people like to stay in island. They have no need to face jams everyday when they cross the bridge. The jams are also getting worst. One hour is considered usual these days. Batu Kawan potential today is more seafood restaurant related.
This may change. investPenang director Datuk Lee Kah Choon said that there were 6,000 acres of land available for development in Batu Kawan and it is now accessible via the second bridge. Industrial development would comprise 1,500 acres which meant employment opportunities are likely to rise from today. Another 2,000 acres would be for mixed-development projects while residential and eco-tourism developments would take up 2,000 acres. What do you get when you have business, leisure and pleasure at the same place? Well, the boom starts and the price goes up. Fortunately, this summary is also backed up by details. Some confirmed ones include The Aspen Vision City (AVC) which is where IKEA is located, Penang International Technology Park (PITP), RM1bil Penang Designer Village, a golf course, a theme park as well as 12,000 new affordable high-rise units would also be built. The LARGEST shopping mall in the northern region would also be built there by the Belleview Group.
With all these, perhaps it is true that mainland’s price may just catch up with the island in the near future. Eco World said that their new launches in mainland would be priced similar to the island. Read here: Buying Batu Kawan? Same price as island. Anyway, the most important catalyst which is the connection between island and mainland is ready. Once all these planned starts to show progress, the mindset may change. Only then would mainland be secondary to island no more. Don’t buy for investment yet. Please proceed to buy for own stay. If you can truly like it, very soon many would too. Happy waiting.
written on 1 May 2015
Next suggested article: Penang: Prices up 8.6%, Income up 5.4%.
Mainland Penang rising, secondary choice to island ending.
Comments
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Hi Charles,
I would like to seek your views and hope you dont mind about it.
I am looking around for another investment property in penang but totally uninterested in batu kawan side where all the hype is happening now.
What is your take on mainland butterworth side near the future underseas tunnel?-
Hi Froggy, my personal opinion on the future underseas tunnel is to wait for that company to start the construction of this tunnel before I even want to consider buying. I prefer to be safer and earn less than to be very confident of this new company and earn more. As you know, this company will be building something else to earn some money before starting the tunnel….
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[…] >> This opinion article comes courtesy of my friend, Charles, the founder of kopiandproperty.my. He is popular for sharing his thought on property investment mostly based on his own 12 years experience as well as from all the readings and conversations with property gurus in the industry. (Source) […]
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