Affordable Housing in Penang
Cheap and Penang used to go together, however in recent years they have become polar opposites. Many Malaysians now have it embedded in them that anything in Penang will be costly. This is not exactly wrong as Penang has recently come up to rival the country's business capital Kuala Lumpur in terms of investments and cost of living. However, rest assured that affordability in Penang still exists. Affordable housing in Penang can still be found and purchased.
The state government of Penang recently launched it's Penang Affordable Housing Scheme (PMM). It's aims are to provide quality housing for all Penangnites at affordable houses. With many projects and townships such as Hijau E-Komuniti located at Bandar Cassia. This scheme is a bold and is there to help all Penangnites afford their houses. In order to apply, one has to fulfill the following requirements,
1. Be a Malaysian Citizen
2. Aged 21 years or above during the date of application
3. Household income not exceeding RM 12000
4. Have met one of the following criteria: 1) Lived in Penang for 5 years 2) Born a Penangnite 3) Skilled/Talent degree/diploma holder working in Penang for 2 years.
As you can see, this covers a fast majority of Penangnites and Malaysians who have recently graduated and are working their first job. Thus many fresh graduates who are trying to spread their wings and beginning to start families of their own will be able to not only benefit from the booming working environment in Penang but be able to afford homes in Penang as well.
However, for those not able to meet the above requirements, do not fear. What you can do it to take advantage of the way that Penang is built. by specifically targeting property in the Southeast of Penang island you would be able to find cheaper more affordable property. Why? This is because the North of Penang where Georgetown is located is the urban capital of the island. If you were to move down South, you would see the developing townships and surburbs that are currently being built. If you were to invest now it would be markedly cheaper than it would be in 10 years time when it is fully urbanized. Who knows, you might even make a nice profit from an early investment. If you are really looking ahead though, the Southwest of Penang islands are where the fishing villages and mangrove forests are located. Properties there would be the cheapest throughout the entire Penang island while at the same time would give you access to priceless tourist-esque scenery.
Hence, affordable housing in Penang is not really difficult to find. We just have to look at the right places. If you are eligible for the state government's scheme then go for it as a chance to obtain an affordable property. If you aren't fret not, just as with any other activity in life, searching for affordable property is all about looking and waiting for the correct opportunity and then seizing it.
Written By : Lincoln Lee Ming Tze
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