Penang Property Sales Data Q3 2008

Penang property sales data Q3 2008 summary in term of value of transactions by property sub-sectors, # of residential property transactions and # of residential property transactions for Penang Island only.

For value of transactions: -Penang Q3'08 property sales slightly dropped -1.5% (1646mil) compared to Q2'08 (1671mil) and increased 4.1% compared to Q3'07 (1581mil). -Residential property remains to be the main sectors contributing 58.2% followed by 13.9% on commercial property.

In term of numbers of residential property transactions:
-Up trend: increased from 3749 transactions in Q2'08 to 4138 transactions in Q3'08 (+10.38%)
-Flat contributed the most numbers of transactions (841/4138: 20.3% in Q3'08)

Numbers of transactions only in Penang Island:
-Up trend: from 2344 transactions in Q2'08 to 2531 transactions in Q3'08 (+7.98%)
-Top 3 transaction involved flat, condo/apartment and low-cost flat
-Penang island only transaction made up of 61-63% of total transaction in whole Penang state

Source: http://www.jpph.gov.my/ (Jabatan Pernilian Dan Perkihdmatan Harta-Kementerian Kewangan Malaysia). Full detail report: http://www.jpph.gov.my/V1/pdf/q308Pulau_Pinang.pdf

Penang Property Web Sites Links

Below is the list of Penang based/focused property web sites that provide properties related online services and information. Some are with blog and forums.

Popular Penang Property forums at http://www.apartment-penang.com. Choose the property forum you would like to participate by clicking the property name at the right site of the page

http://www.penangproperties.com/apartment/- very informative web site from PEN PROPERTIES which provide information on the selected property for example its location, year completed, tenure, # of bedroom, built-up, facilities and with photos.

http://www.fullhouse.com.my/- Fullhouse.com.my is a local website that provides property-related services online. Included blog with latest, top focused and archived property related newsletter and article and Forum with multiple real estate topics for examples forum discussing about new projects, real estate advice, investment hot tips with internation participant.

http://iproperty.com.my/- with feature development/project news, property articles and properties listing. Ask the iExpert feature available whereby you can submit your question and iExpert will try to answer you online.

Penang based real estate agency property listing website which could assist you to sell or find your real estate property and other services/information.
-http://penang-property.com/ (PEN PROPERTIES real estate agent)
-http://www.mydreamhouse.com.my/ (Dream House Properties)
-http://www1.intproperties.com/ (I&T)
-http://www.e-properties2u.com/ (e-Properties)
-http://www.leonghousing.com/ (Leong Housing Agency)
-http://www.sincerehome.com.my/ (Sincere Home Properties)
-http://www.haisoonprop.com/ (Hai Soon Properties)
-http://www.penangproperty.com.my/
-http://henrybutcherpenang.com/
-http://www.careypenang.com/
-http://reapfieldpropertiespenang.com/
-http://www.properties188.com/index.html
-http://www.penangcentral.com/Penang-Property.html
-http://www.myhoom.com/
-http://www.getan.com.my/agency.html

Penang Property-Why Property Investment?

Passive income is different from active income whereby you have to exchange your time to money, it is generated even though you do not actively work on it. The book "The Parable of the Pipeline" by Burke Hedges explains the concept of making passive income streams very well. There are several ways or investment vechiles to generate passive income streams toward financial freedom for example rental properties that give you positive cash flow, fixed deposit, stock dividend, bond, mutual fund, internet marketing, royalties from book or song you have written, franshising etc..

There are 2 strategies in property investment. To gain higher returns with in short period through flipping (look for reputable developer, higher risk and need to have holding power if something unforeseen happened) or want to become financial independent through rental income. My current strategy is the later which is rental income as the source of passive income.

Additional considerations that I choose property investment as my main investment vechile/strategy:
-Make my money work harder for me
-It is with acceptable/not high risk and with stable and predictable return
-Not time consuming, only need to look for the property once and rent it out. Based on my experience so far with good tenant, I did not do anything for ~2yrs but only monitor the rental bank in to account monthly
-Appreciation and let inflation to work for you. The cost to build a building or house will not be the same today vs 20yrs later with all the material, labour etc..cost increase over time
-Practice and make use of the leveraging concept. With minimun let say 10% downpayment, we are able to own the property and start getting tenant to work for us
-Serve as our retirement fund or children education funds