| |
| |
| |
| Penang Island Draws Luxury Home Builders |
| |
| |
| THE most expensive landed residential properties on the Penang island today are located in Tanjung Bungah, Tanjung Tokong and Batu Ferringhi in the North-East district, and Sungai Ara in the South-West district. |
| |
| These properties are three-storey terraced, three-storey semi-detached and three-storey bungalows, which are priced between RM800,000 and RM3mil. |
| |
| The builders are reputable developers from Kuala Lumpur and Penang. |
| |
| Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Teoh Poh Huat said: “Generally, the value of landed residential properties in these areas have appreciated by about 10% yearly since the dawn of the new millenium.” |
| |
| He told StarBiz that due to high land cost and rising building material prices, it was no longer profitable for developers to build double-storey houses. |
| |
| “About two years ago, developers here started to build three-storey homes with larger built-up areas and higher selling prices. |
| |
| “Presently in the market, the selling price for a three-storey terraced starts from about RM800,000, while for a three-storey semi-detached house ranges from RM1.3mil to RM1.8mil, depending on the size. |
| |
| “The three-storey bungalow unit is priced between RM1.8mil and RM3mil,” he said. |
| |
| In Tanjung Bungah, Chong Co Group, a reputable developer with good track record, is developing the Hill View Garden, comprising about 200 units of three-storey terraced and three-storey semi-detached houses on a 20-acre site. |
| |
| “These properties, priced between RM800,000 and RM1.8mil, are over 80% sold. |
| |
| “They are selling well because of their large built-up areas that can cater to the needs of families living with their grandparents,” Teoh said. |
| |
| The Hill View Garden three-storey homes have built-up areas ranging from 3,300 to 5,000 sq ft, depending on the type that come with four to five bedrooms, and porches large enough to accommodate three cars. |
| |
| In Batu Ferringhi, similar types of three-storey landed residential properties were being developed, said Teoh. |
| |
| “Blossom Time Sdn Bhd is launching in mid-2008 some 129 units of three-storey landed residential properties comprising semi-detached and bungalow homes, which are part of a RM400mil development called Ferringhi Park. |
| |
| “Again, the emphasis is on the large built-up areas of the units, which come with five to seven rooms, depending on whether it is a semi-detached or a bungalow unit. |
| |
| “The semi-detached units are priced at RM1.2mil, and the bungalows at RM1.8mil,” he said. |
| |
| The semi-detached units have built-up areas of 3,995sq ft, while the bungalows 4,300sq ft. |
| |
| Teoh said the first batch of 57 three-storey semi-detached and bungalow houses, launched last year, were over 80% sold. |
| |
| |
|
| |
| |
Close Window