Dubbed as the “Pearl of the Orient” and is recognised by UNESCO as a World Heritage Site, Penang is one of the most iconic scenic states in Malaysia with solid reasons. A large part of the state of Penang is located on an island where you can enjoy beautiful beaches greeted by old-world charm, with classically delicious local delicacies sold at roadside stalls. It is one of the few remaining places where the traditional way of life is still practised as opposed to the fast-paced development at high-density cities. Visiting areas surrounding heritage sites will be like a step back in time, enriching you with its culture, tradition, and diversity.
Settling in a condominium in Penang is not just about urban living with a magnificent view of the skyline, it also means you are always within close proximity to prime locations without getting exposed to the hustle and bustle of the big city, nestled safely in your cocoon. Condominiums in Penang will continue to thrive and be the preferred choice among other property types for home buyers, here are three reasons why.
#1 – Combination of Both Convenience and Privacy
Despite being the second smallest state, it is eighth-most populous in the country. According to data from the Department of Statistic Malaysia (DOSM), Penang is the second-most densely populated state in Malaysia after Kuala Lumpur. Due to land constraints, purchasing a property will require one to decide on a delicate balancing act on whether to opt for affordable but further from civilization or go for the costlier ones but nearer to established locations. Condos are usually located in well-developed neighbourhoods with close proximity to various amenities; while offering their very own comprehensive range of facilities. Located in Bayan Lepas, Penang, Mah Sing’s M Vista offers its own residence with countless facilities among which includes but not limited to the reflective pool, bed pool, gym, playground & secret garden and forest cloud reading corner.
#2 – Accessibility
As Penang is compact in area size, travelling within the vicinity is a relatively effortless undertaking as Penang offers a very comprehensive route around the state via bus services. The main public bus service is offered by Rapid Penang, covering both the island and mainland with KOMTAR terminal being the central transfer terminal that covers the whole state. When travelling within George Town, which is the capital city of Penang island, there are free CAT (Central Area Transit) buses available that operate within George Town. The availability of buses and taxis in close proximity enhances accessibility even more. In the case of M Vista, the close proximity of the condominium to the Penang International Airport is an even bigger boon. Having the convenience of public transport just a walk away gives us the flexibility of choosing to drive or not to drive, a luxury envied by many.
#3 – Values for Price
Houses in Penang are not the most affordable houses around after having grown tremendously in population over the years alongside rapidly developing industrial areas in the state creating a high demand for its properties. Housing affordability continues to be the key consideration of the housing industry. According to Bank Negara, 63% of the newly approved loans were for first-time home purchasers of properties priced under RM500k. This is when condominium comes into the picture, in terms of absolute price per unit, it will be much affordable to get a condominium than buying a landed property with a similar built-up.
Not forgetting the fact that with condominium, the flexibility to choose the size you want is greater than opting for other property types. Mah Sing’s M Vista which starts from RM646k offers 5 unique apartment layouts. If you are in the market for a more upmarket condominium, Mah Sing’s Ferringhi Residence at Batu Ferringhi which starts from RM1mil offers 3 unique apartment layouts.
Related Article: Penang’s Condo Trend in 2020: 4 Factors To Consider Before Buying
Citations:
https://investpenang.gov.my/why-penang/
https://www.appropedia.org/Malaysia
https://mypenang.gov.my/about-penang/transportation/
https://www.mahsing.com.my/properties/m-vista-penang
https://www.mahsing.com.my/properties/ferringhi-residence-penang-condominium
