The number of tourist properties in Penang is showing an upward trend since 2008 due to an increase in tourists arriving in Penang. Penang, also known as Pulau Pinang, Perla Orientu, Silicon Island of the Worlds, includes an island and land with a total area of 293 km2 and 738 km2. Penang with a combination of beachfront, hillside of residential dwelling and urban heritage, has been chosen as an excellent selection of living, working, study and play. Penang ranked No. 8 in the most successful and most important city of ECA in Asia.
What are the three best attractions for investors who own a holiday home in Penang? We can concentrate on beach, urban heritage and industrial zones.
Attractions on the beach
Penang welcomes many visitors every year, many of whom are foreigners who visit the island for business and / or leisure. One of their most popular meetings without debate is Penang's touring district. The North and East Coast is the most redeveloped tourist area in Penang, which is home to many world hotels, such as Shangri-la Rasa Sayang, Golden Sands Resort, Hard Rock Hotel and so on.
This area is also a popular spot for visitors who invest or own land on this beautiful island. Several new luxury apartments are located in the northeastern part of the district where they were made at prices higher than RM1200 per square foot. On average, however, the prices per square foot of the condominium on the northeastern edge range from RM500 to RM800 per square foot.
After crowning UNESCO's World Heritage Site, Penang recorded an accelerated demand for property in the historic town of George Town. The city has a remarkable gathering of significant architecture that represents the cultural heritage of the different peoples of Penang: Malays, Chinese, Indians, Siamese, Burmese, Achenians, Arabs and Europeans. George Town, a UNESCO World Heritage Site, has been named in base and buffer zones.
It is noted that pre-war heritage is a strong demand due to its potential imitation potential for capital appreciation. Demand comes from local and foreign investors. Given the limited supply of good records, the market seems to be more buyers than sellers. The average price per square foot of the pre-military heritage in Goerge Town began to rise after 1999. The CAGR (1999-2013) pre-war features averaged about 12.7% per square foot. Demand for the pro-heritage properties of the inheritance seems utterly strong despite the economic uncertainty.
The manufacturing sector continues to be the key drivers of Penang's growth. Ownership in Bayan Lepas industrial zone has thus always received encouraging demands from local and foreign workers in the Bayan Lepas industrial area. With the beginning of the second Penang Bridge on March 1, 2014, the bridge connects the Bayan Lepas Industrial Zone (via Batu Maung) and the new Batu Kawan Neighborhood and Industrial Park on the mainland (Seberang Perai Selatan District). Ikea, a well-known Swedish home furniture business, plans to open a business in Batu Kawan, as announced by the government of Penang, which should be opened in 2020.
Given key developments in industrial zones, it is expected to attract a large team of strong expenses of professionals, production specialists, business travelers and visitors. Such an area near the southwest Penang district and the industrial park on the mainland will be the future spotlight for real estate investment in Penang.
Visit Happy Homestay Malaysia to discover an attractive life package at Bayan Lepas Industrial Zone in Penang!