03 May 2016, 07:32

Most peoples' first question would be cost. No matter where you go price will always have an impact on what you do. However, due to the recent boom of Penang development property prices have risen there where they were previously lower than in Kuala Lumpur. Consequently investing in both Penang and Kuala Lumpur will cost you nearly the same amount of money. So we need to look outwards to broader horizons when looking to invest in these different yet intricately similar states. Here are the top five reasons why we should invest in Penang rather than in Kuala Lumpur.

 

1. Way of Life

People invest in property for a myraid of reasons, some are looking for a way to increase their income either through rentals or through holding their property for a certain period of time and then selling it for a higher price in the future. However, the most common is still to live in them. It is to this end which Penang holds the edge. While Kuala Lumpur can lay claim to a longer more mature city infrastructure and being more developed. Penang has been steadily developing itself for the past decade yet they have managed to maintain a balance of their roots and modernity. Besides this many people agree that the way of life in Penang is better than Kuala Lumpur. Kuala Lumpur's high-paced, everything on the go society might be ideal for work and for many hungry for opportunity but therein lies it's inherent weakness. It lacks the humanity or the community closesness than Penangnites all enjoy. If you are looking for a city thats dynamic in its urbanisation yet want to have a more relaxing way of life. The culture of Penang that mixes old and new is the way to go.

 

2. Lower Crime Rates

Crime rates in Kuala Lumpur are at an all time high. Recently, according to US State department, there has been a noticeable increase in crime in Kuala Lumpur, besides this Kuala Lumpur has been named as one of the most dangerous cities in Asia to live in. Not far behind is the town next to Kuala Lumpur, Petaling Jaya is also a (although less than Kuala Lumpur) one of the most dangerous cities in Asia to live in. Penang however, still has maintained an image of a safe environment where people are able to walk to streets with relative safety. While one might not be able to judge how true this image is, no one doubts the relative unease by which we traverse the streets in Kuala Lumpur so Penang definitely takes it home in terms of safety.

 

3. Cost of Living

Just like I mentioned earlier, money plays into every decision that we take. Despite the cost of property being relatively of the same standard in both Penang and Kuala Lumpur, it is undeniable that the cost of living in Penang is lower than in Kuala Lumpur. Anyone who lives in Malaysia would be able to tell you that Kuala Lumpur still boasts the highest standard of living in Malaysia. For people who have already taken out a huge chunk of money for a piece of property, cost of living should weigh heavily on their mind. For a lower price, people are able to get in Penang many of the same quality of goods and entertainment available in Kuala Lumpur, especially since Penang as a city isn't as far behind in urbanisation from Kuala Lumpur as many people believe.

 

4.Traffic

This might seem like a surprising thing on this list because the islands traffic congestion's are something of legend. However, just like most legends it is often exaggerated. Yes, more often than not you will be caught in traffic jams but in Penang you will just have to wait for half an hour and it will slowly flow and ebb itself out. In Kuala Lumpur however, a 20 minute drive could easily turn into a 2 hour one. Driving in Kuala Lumpur is one of the top complaints of many citizens. Traffic congestion is practically a part of the city. Throw in the bad attitude of many drivers and confusing ill-maintained traffic signages and you have a recipe for traffic disaster. In Penang though, the recent one-way systems have eased many congested systems and the opening of the Second Penang Bridge has made travelling through and fro and the traffic conditions much easier on the island. 

 

5. Environmental Appeal

Penang is an island, with that comes a certain appeal that only islands posses. The romanticism of being away from the mainland, the serenity of the sea etc. Well forested hills and jungles cover the northwest of Penang a safe haven from the development and urbanisation that has been overwhelming Penang for the past decade. This combined with the fact that the island has an ongoing "Cleaner Greener Penang" campaign ensures that Penang has an improving sense of awareness about their cleanliness and environmental awareness. Kuala Lumpur however, has much to learn. It's roadside trash and unhygienic conditions are the stuff of legends. Every Malaysian knows the horrors that await them at any public toilet in Kuala Lumpur.

 

And there you have it! The 5 reasons why Penang is better than Kuala Lumpur for property investment. There are so many other things to consider besides pricing. Sometimes living at a place also depends on who we live with, the quality of life and how much obstructions we will have to daily life. Thus this is why these reasons focus more on the intrinsic surroundings of Penang rather than focusing on the common which is more expensive or which property is of better quality. Numerical value and property can be found elsewhere, intrinsic value cannot.

 

Written by : Lincoln Lee

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