Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

The changing trends developers are following at Penang

By Jeevan Nanthan Subscribe to RSS | June 12th 2012 | Views:
loading
 
  



Penang in Malaysia in recent years have emerge as a property hotspot and have managed to attract many buyers from the nation as well as outside. This island then grabbed the eye of investors and home builders. Latest from this front is the increasing interest of luxury home builders who are now moving their focus towards Penang real estate. There are many such landed properties in Penang that are particularly liked by builders. Few among these include the residential properties at Tanjung Tokong, Tanjung Bungah and at Batu Ferringhi. The north-east region of the area along with the south-west region also has many such expensive properties that many buyers have shown keen interest in buying.

Most of the Penang properties located in these areas consist of three storied ones. These include three-storey semi-detached properties, three-storey terraced homes as well as three-storey bungalows. The price of a good number of these begin at RM800,000 and may even go up to RM3 million for some luxury homes. Most builders here belong to the list of leading developers of real estate Malaysia and come from either Penang or the country’s capital, Kuala Lumpur.

The new millennium marked a bright start for these properties after which an average hike of 10% was seen in the price of all these luxury properties at Penang. This has further lead to increase of the land cost too. The building materials have also increased in price. Developers to ensure a cost efficient solution have thus started making three storey homes rather than just double or single storey ones. These three storey homes offer larger built up areas and thus help builders get higher selling prices for the homes.

Currently the selling price for such three storey homes begins at RM800,000 and a detached three storey property is priced at RM1.3 million to RM 1.8 million which is judged by the size of the property getting sold. On the other hand, the price of three storey bungalows in Penang lies between RM1.8 million to RM3 million.

Construction of a property at Tanjung Bungah was another most liked project that was undertaken by a reputable developer. Consisting of 200 units of three-storey semi-detached houses and three storey terraced houses this was started on a land area of 20 acre. 80% of these properties have already been sold. The large built up areas offered at these homes have managed to attract even more buyers, especially who have more members in their family.

It can be clearly seen by the interest of investors as well as buyers that the new construction designs and plans are now being adapted well by everyone. In addition to space utilization, these homes offer the buyers luxurious living experience and at a budget-friendly choice.

The focus in last few years have evolved completely, where developers have started experimenting with new home designs and new plans and buyers on the other hand are enjoying better space utilization at lowered prices. The fast selling of such constructed properties is a proof of how buyers have liked this new undertaking by developers and builders in not just Penang, but in whole of Malaysia.

Jeevan Nanthan - About Author:
The author is an expert in Penang real estate and works with SriShanBid to assist with buying and selling of malaysia properties. SriShanBid as a leading property company can help anyone in finding their dream Penang properties at best possible deals.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/the-changing-trends-developers-are-following-at-penang.htm

Related Real Estate Articles Subscribe to RSS

Select the correct estate agents.
Published by Matthew Watson on August 18th 2012 | Real Estate
Deciding on the right real estate agent can preserve you a lot of time, income and headaches. They w...
 
Kelowna real estate is the best properties of Canada
Published by Warner on April 23rd 2012 | Real Estate
Kelowna real estate is the most reputed name when it comes to purchasing a residence in the locality...
 
Rising demand of residential real estate in India
Published by Neha Gupta on May 9th 2012 | Real Estate
The demand of residential real estate in India has increased manifold in the last couple of years. T...
 
Buy a Property in Cyprus in real and very cheap rates
Published by Jane Cyrus on February 6th 2012 | Real Estate
Are you planning to buy a property in Cyprus? But purchasing a property without an agent is stressf...
 
Want to buy Miami luxury homes? Get to know luxury real estate miami business
Published by Angie Turner on May 25th 2012 | Real Estate
Envision a stifling location with tall palm trees; sun flounced white sandy shores and several class...
 
Playa Del Carmen real estate – the right buy for Retirees?
Published by Tom Budniak on December 27th 2011 | Real Estate
Whenever a retirement destinations of international quality are discussed, one name that features am...
 
Real estate agents with a touch
Published by Loo821ql on January 19th 2012 | Real Estate
People look for types of businesses that can help them climb the ladder faster, but the truth is if ...
 
Options for a real estate
Published by Loo821ql on February 26th 2012 | Real Estate
If you are learning how to be a registered realtor or simply would like to know more about real esta...
 
The dynamics of real estate marketing
Published by Loo821ql on March 11th 2012 | Real Estate
Investing in real estate has been hailed as a very profitable business....
 
Hire estate agents Marlow for smooth property deals
Published by Ricky Charles on January 4th 2012 | Real Estate
Many businesses have flourished and doomed but the real estate business has somehow managed to keep ...
 
Real estate agents in California
Published by Fawad Umair on June 30th 2012 | Real Estate

Once you may have located real estate you should buy, you are going to begin seeing and hearing ...
 
Mohali real estate- the right time to seize the opportunity of profitable investment options
Published by Deepti on April 11th 2012 | Real Estate
Mohali is fast turning into the next Gurgaon or Noida. This city with its growing developments is no...
 
Acquire your dream home with the help of real estate agents
Published by Deepti on May 3rd 2012 | Real Estate
If you are planning to buy a house, there are lots of things which need to be considered and planned...
 
Why you ought to Buy a home in Bay Location Real estate Like Walnut Creek, Brentwood and Antioch?
Published by Yurem on January 3rd 2012 | Real Estate
As a result of continuing economic situation worldwide the values of bay area houses for sale may be...
 
Two popular loan types offered in real estate Malaysia
Published by Rick Foster on March 28th 2012 | Real Estate
Home buyers usually find it difficult to arrange the funds that buying a new home requires. Many a t...
 
Costa Rica real estate investment opportunities
Published by John Mathews on July 11th 2012 | Real Estate
Costa Rica presents some of the very best real estate investment opportunities with a massive market...
 
Real estate marketing is essential
Published by John Mathews on August 4th 2012 | Real Estate
In the real estate business, marketing is very essential. The more effort you put in with your marke...
 
 
Real estate advancements in Houston
Published by Brad Hermes on May 9th 2012 | Real Estate
Just as in other United States global cities, Houston real estate market is proving to be a very unp...
 
Invest in mohali real estate
Published by Neha Gupta on May 11th 2012 | Real Estate
Making a property purchase is possibly the most momentous fiscal decision for a first time buyer. Th...