27 June 2016, 10:07

The island of Penang, a hotbed of activities, culture and heritage. The once unassuming "only for holiday" city has recently turned into one of Malaysia's foremost metropolitan cities for commerce, trade and finance. It stands only behind the nations long powerhouse Kuala Lumpur in terms of investments and commercial standing. However, the island of Penang isn't entirely an island city the likes of Singapore or Hong Kong. There are still distinct sections of the island that are unique to themselves. This is where the differences in where you invest for property in specific parts of Penang come in.

 

Northern Penang Island

 

Pros

The advantages of Investing in Northern Penang Island would be that the Northern part of Penang Island is where the historical and modern capital of Penang, Georgetown is located. By investing in Northern Penang you would have access to modern facilities and access would be easier as the roads are more well developed and would be beneficial if the property you are investing in is for business purposes. It is a hotbed for investment as well as many local and foreign firms have set up shop in Penang. However, despite the hustle and bustle of the city Georgetown still maintains it's cultural heritage with many famous local sights that will bring you back down to earth. The Northeast part is particularly well known as the tourist/beach area of Penang with chains of International Hotels and famous brands setting up shop there. Thus, ensuring you a holiday destination nearby if you ever feel like taking a break from the city.

 

Cons

As with any city there will be disadvantages living in an already highly developed area. One would be the cost, Penang property is already one of the highest in terms of cost in Malaysia, however, living in the urbanized part of Penang would mean an even steeper price to pay. Furthermore, you would have to deal with the daily traffic jams on the main road of the city, within the interior parts of the city getting around in a car is actually quite difficult as the streets are narrow. You would probably have to hire a rickshaw but this might not be conducive in every circumstance. Due to the hotel chains setting up shop near the beach, you might very well find your relaxing day at the beach interrupted by squads of tourists and their families and securing a private property near the beach would be difficult and cost you an arm and leg.

 

Southern Penang Island

 

Pros

The Southern part of Penang Island is generally known as the less developed part, more forresty with more fishing villages and scenic beaches. However, recently the rice paddies and fields of the Southeast of Penang have been totally replaced by new townships and a booming industrial area. That being said, it would be advantageous to invest in property in the South of Penang Island as prices for now would be comparatively lower than the North but perhaps in the future it might be worth the same value when the developing townships start to become more and more urbanised. This would mean that a low investment now could yield a high return in the future. However, besides this the Southern part of Penang Island is still consists of large pockets of scenic forrests and oceanviews. With huge mangrove patches, villages, fruit orchards and fishing villages. For investors looking to leave the hustle and bustle of the city you can do it here without worrying about noisy and annoying tourists as well as arm-breaking prices as the properties here are cheaper. Peace and tranquility can be found in the South basically.

 

Cons

However many of these benefits might be leaving within the next few years. With signs of continued development, investors looking for peace and quiet might not find it anymore as the South of Penang Island become more and more urbanized like the North. For now however, the biggest disadvantages would simply be accessibility to facilities. If you were to live in the South you need to regularly drive up to the North and sometimes mangrove forests and remote fishing villages can be a hassle to handle. Plus, you might find more wildlife than you expect near your property as more and more of them get displaced by the growing urbanization of Penang townships.

 

Written By : Lincoln Lee Ming Tze

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