Penang Property - Can buy or Bye Bye? From a Singapore Buyer Perspective
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- čas přidán 22. 02. 2024
- Penang Property - Can buy or Bye Bye? From a Singapore Buyer Perspective
Penang is an island on the western side of Peninsuala Malaysia. I will be exploring the property market in detail supported by market data.
I will also cover 2 resale condos and analysis their performance to date. I will also share my parting thoughts before committing to a property for fellow Singaporean.
Alan Wee
CEA Reg No. R024730A
wa.me/+6592973150
www.AlanWeeProperty.com (Resale)
www.AlanWee.com (New Homes)
/ @alanweeproperty
FB: AlanWeeProperty
I am a licensed housing agent with ERA Realty Network Pte Ltd.
Credits:
National Property Information Centre: napic2.jpph.gov.my/ms
Photos Credits: Google Map
References:
myhometownpenangwelcomesyou.c...
www.propertyguru.com.my/prope...
www.propertyguru.com.my/condo...
www.propertyguru.com.my/condo...
www.jpph.gov.my
www.police.gov.sg/
you are clear, concise and funny.
Hahahah...come after practice n practice.
As for Batu Lanchang property example you used and asked why so many people trying to sell. The answer is this property is very popular amongst foreigners especially Japanese because it is close to the wet market and town. These foreigners are selling because these owners are likely on MM2H scheme and they are affected by the recent changes in the regulations governing this scheme especially with the amount of deposits they have to place in Ringgit in the bank. The deposit has been raised to RM500,000 , RM1,000,000 or RM$2,000,000. Before the change it was RM150,000 . Even at RM150,000 deposit MM2H participants would have lost RM$50,000 or more depending on when they joined the scheme because the currency has depreciated. So to retire in Malaysia is not as simple as you described . You need to do alot of homework and there is a high risk because the uncertainty of future changes to the immigrartion scheme which may drastically affect your financial plans
wow. thank u so much. that is indeed useful.
I bought property in JB 39 years ago at 1SGD=1.1RM. I sold it 5 years ago at 400% of my purchase price and exchange rate was 1SGD=3RM. My loan rate was 10% for a 15-year loan.
FYI, a 4-rm hdb was only 40+K...! Today it's 400K...!
Big mistake for me.
Wow. Thanks for sharing!
You have missed out on a critical factor the depreciation of ringgit . If you translate the value bought 10 years ago and the value of the same property sold today you can see that in your foreign currency like S$ the appreciation is not 16%. This must be taken into account when analysing overseas properties because Singaporeans will be changing their S$ into Ringgit to fund the purchase
yes. there is FX risks involved ovsersee property.
Come lah🎉🎉🎉
We cannot buy overseas property if we are staying in hdb in Singapore right?
After HDB mop u are a free man.
Singaporean buy properties in Malaysia for what? How long you want to stay in Malaysia? To get PR (permanent residency) ? Citizenship? In time, ypu still have to come back to Singapore. So, just rent lah.
U rent also is just like u buy an hdb flat where u pay more for a long term 99 years or in some case 65 years rent as well
Need long term visa to stay in Msia
hi wee can do a video for ipoh too>
Unlikely.
Data is far off than actual case, in penang island, lots of condo are above rm500k, and if can afford to buy 1 million condo, doesnt mean we can push ourselves to buy 1.4 mil landed, because that is another extra 400k to pay. Anyhow.. the data show for penang, is not too accurate, go to tanguh bungah and gurney area, the condo price will blow your mind, even there are lots of condo more than 2 to 3 million.
What is advertised is rarely being sold. The fact that there are so many high priced condos advertised show that no one is buying them but owners are still calling for high prices
i am limited by a lack of data. i have to agree my video is not 100% accurate. that is why watch them with a pitch of salt. it more for singaporean to have a overview on the market there... can share where to find such transaction. i will be keen to explore them.
Covert the currency rate in 2013 and now... lose until lao sai
Ok lah, better than going casino. Su Su Ki most of the time.
Is Tony Phuah your relative ?
nope. i dont know this person.
Malaysian properties are a waste of time. Only good for buying for own stay. Forget abt capital gains or rental yields
It’s Girl-nee drive, not goo-nee.
hahah....okok. thank u. maybe after i go there. then i know how to pronounce correctly.
@@alanweeproperty btw, most investment grade properties in penang are not worth investing. When u buy at RM 1m and above, who is going to buy from you at a higher price in future? Definitely not the locals who can buy cheaper projects although less prestigious.