The capital of Penang, Georgetown is a widely known Unesco world heritage site. Not only does it popular with its rich British colonial history, but also its street food and interesting architecture. Home to a myriad of main races comprising Chinese, Malay and India, it has been recently voted as one of the world’s eight great places for foreigners to retire abroad through Kiplinger, a well-known US based publication.
According to New Bob Group director, Dr. Ville Lee “ With such recognition, it will create more opportunities for the Penang property market to boom in a greater scale. More foreigners are expected to flock into the island and purchase properties for a good retirement or permanent residence”.
To cater the increasing demand of properties from both locals and foreigners, a staggering RM9.37 billion worth of properties are slated for launch this year covering the north east and south-west districts of the island.
The north-east district encompasses prime residential-cum-commercial neighborhoods namely Tanjong Tokong, Batu Ferringghi, Pulau Tikus and Bayan Mutiara, projects amounted RM6.67billion. On the other hand, the South-West district will cover residential-cum-commercial neighbourhoods namely Relau, Batu Maung,Bukit Jambul,Bayan Lepas, Sungai Nibong and Teluk Kumbar, projects amounted RM3.07 billion.
With so many projects on deck to be launched, Penang sets to become worldwide most sought after city particularly among foreigners who wish to settle down in a tropical island of warm and sunny temperature all year long via affordable living expenses.
To scout for the right property, one may turn to New Bob Group for assistance and guideline, whom is Penang’s leading and pioneer real estate company. It offers a wide selection of properties at reasonable rates to cater the needs of everyone. An island blessed with multiple places of attraction, tantalizing local food, exotic heritage, mysterious temples and beautiful beaches, there’s no better place like Penang for a perfect home.
Sources
1) http://www.thesundaily.my/news/620838