My uncle from Germany wanted to invest in property in Penang, I introduced him university place, along Bukit Gambier in Penang Island as an option to consider. We have viewed a few units during his 2 weeks stay in Penang late June09. I have summarized it as below for your ref.
unit#1: high floor >20th, asking price is RM330k, come with 2 car parks, fully furnished, a lot of the furnitures are not built-in, normal kitchen cabinat and old sofa. Very expensive. The unit is vacant now.
unit#2: high floor >20th, asking price is RM340k with 1 car park, fully furnished, very nice and clean english style decoration. negotiated to RM325k. owner stay now.
unit#3:middle floor<20th, asking price is RM295k with 1 car park, fully renovated and funished, tenanted at RM1500k.
unit#4: high floor>30th, asking price is RM300k with 2 car-park, it was an show house before, fully furnished and renovated, all built-in cabinet and kitchen, currently tenanted at RM1600. Offered made at RM300k but sold at RM305k the next day to other buyer.
unit#5: high floor>20th, asking price is RM280k with 1 car park, 1st and 3rd bedroom with built-in cabinets, 2nd bedroom with built-in study table, no sofa, built-in kitchen cabinet is ok, come with 1 air-cond. owner occupied and moving to landed house.
So, unit#3 and unit#4 worth considering to invest with positive cash flow. unit#4 already sold and my uncle did not purchase unit#3 because the floor number is not "chinese friendly".
Saturday, July 18, 2009
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wah liu..how come this university place price so expensive now?
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ya, the price had appreciated a lot. 2.5yrs ago, the unit i purchased was RM205k and the market price at that time for a original unit was RM230k and now it is RM265k (lower floor, higher floor might be more expensive).
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