I'm just a noob when it comes to this so I can only say this from local knowledge:offshoreoildude wrote:I imagine - that in a desirable location - prices will go up if there is no global calamity in the mean time. Your big issues will be property management and building maintenance. Why not work your wife's network and see what they know?dpot wrote:What about buying in a place like Penang? We considered it...wife grew up there, but impossible to say what prices will be like in 15 yrs when we want to sell.
Penang is going to enter a property bubble phase in another decade or less. For now it is good but real estate is starting to be crazy. The island is just like Singapore -- small, charming and favourable. The only thing is missing is good federal government, which is already an iffy thing because only half on the things fall into the jurisdiction of state government (the opposition party), so that hampers the development of the island.
So I can't advise you when you should look into buying a property there.
As long as Penang is able to create more space for property development via land reclamation, it won't enter the bubble phase yet. Balik Pulau at the east has yet to be fully utilised and fully saturated so it will buy some time. And once the Second Link is completed, you will see the buzz in Batu Maung (on south island) and Batu Kawan (on the mainland).
Butterworth (on mainland) is still OK but the value won't jump as madly as the ones in the island.
Oh wait, d-pot, you're talking about commercial or residential?