Banks have been urged to relax conditions on loan applicants for low-cost, low medium-cost and affordable housing here. Penang Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the banks should not be unduly worried over default loans as “the security is already in the housing unit itself.” ... Read More

Gelugor Heights, a residential development by Binwan Development Sdn. Bhd. at Tasek Gelugor, northern Seberang Perai. It is located along Jalan Gelugor, about 30 minutes drive to Penang bridge. This development comprises 38 units of 2-storey semi-detached and 2 units of bungalow houses. Project Name : Gelugor Heights Location : Tasek Gelugor, Penang ... Read More

Penang property developers see a glut swelling in the affordable segment, which has about RM7bil worth of mid-range properties planned to date. These 34,608 units, targeted exclusively at the first-time home ownership market with prices ranging between RM200,000 and RM400,000, will enter the property market over the next three to ... Read More

by Charles Tan Just a few years ago, there were hardly any billion Ringgit Gross Development Value (GDV) projects in Penang. These 2 years however, we are seeing more and more of these billion Ringgit GDV projects. I think one major reason is also because many KL developers are now ... Read More

For obvious reason, house ownership is something that is very close to the hearts of most Malaysians. Be it offering a roof over one’s head or an investment, property has been an interesting conversation to most. The last several years, the subject of property have centred around how much who ... Read More

Earthworks began last month on the much-anticipated multi-billion ringgit Aspen Vision City township in Bandar Cassia, Batu Kawan. Aspen Group chief executive officer Datuk M. Murly said the company had obtained approval to start infrastructure work. He said construction on its first project, the Verve, was expected to begin by ... Read More

Penang-based property developer Tambun Indah Land Bhd (TILB) is acquiring 19.05 acres in Kota Permai, Bukit Mertajam, for RM39.42 million and increased its land bank to 472 acres which would sustain the Group for approximately six to seven years. In a stetement today, TILB managing director Ir. Teh Kiak Seng ... Read More

Eastern & Oriental Bhd (E&O) will release for registration the second tower of its RM900mil Tamarind project this weekend at its show gallery in Seri Tanjung Pinang, Tanjung Tokong. E&O marketing and sales general manager (Penang) Christina Lau said the first tower block had registered a 90% take-up rate since ... Read More

In Penang, there is a common perception that foreign property buyers and investors are the culprits behind escalating property prices. But is this generally true? Figure below shows the ratio of foreign residential homebuyer in Penang for the year of 2010, 2011 and 2012 (latest available data). Clearly, more than ... Read More

The Penang government may revise present guidelines for foreigners buying property in the state in view of the declining value of the ringgit. State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said he would meet with stakeholders next week to discuss the guidelines which restrict foreigners from ... Read More