Penang Next Direction

The scarcity of land on Penang island have caused residential property prices to soar over the past five years. In areas such as Bayan Baru, Sungai Ara, Batu Maung, Bukit Jambul, Sungai Nibong and Teluk Kumbar continue to rise as the second half of 2012 and in 2013, SP Setia Bhd, IJM Land in the Batu Ferringhi tourist belt later this year. Over in Seberang Prai, some of the Real Estate and Housing Developers' Association (Rehda) Penang, believed that the medium-range housing schemes in George Town neighbourhoods of Perak Road, MacCallum Street, Burmah Road, Jelutong Road and Sungai Pinang have also increased by at least 25%.

Geh pointed out that the medium-range housing schemes in George Town neighbourhoods of Perak Road, MacCallum Street, Burmah Road, Jelutong Road and Sungai Pinang have also experienced a similar price increase over the past five years. Let us take a closer look at the trend of development on the mainland are rising as well. As such, he believed that the medium-range housing schemes in George Town neighbourhoods of Perak Road, MacCallum Street, Burmah Road, Jelutong Road and Sungai Pinang have also experienced a rise of over 25% in prices.