Extract from The Star (23/07/10)
PROPERTIES in Penang will continue to remain a favorite choice among local and foreign investors and are expected to show returns that are above the national average.
Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Jason Teoh said Penang’s real estate market could be benchmarked against some of the best schemes in Kuala Lumpur and Singapore.
“Astute foreign real estate investors have commended Penang for offering some of the most attractive product designs at a fraction of the prices in their home countries,” he said.
He said Penang, being voted among the eight most livable cities in Asia, on par with KL and Bangkok by ECA International, had created further excitement, especially among foreigners seeking a second home.
Teoh: Property investment is a good hedge against inflation. “Property investment is generally perceived to have a longer term horizon as it is not so volatile compared with stocks. In fact, it has proven to be a good hedge against inflation with returns being higher than the Consumer Price Index.
“Seasoned real estate investors from Hong Kong and Singapore have predicted that real value will increase over the next couple of years, given among other reasons, Malaysia’s recent positioning in the top 10 list of the world’s most competitive countries,” he said.
Dr Teoh added that confidence and sentiments had improved since the last quarter of 2009 and major developers had been enjoying encouraging sales in the first half of 2010.
“Prices are generally on the uptrend given a relatively low interest rate regime (notwithstanding a recent increase in BLR rate), high liquidity and greater market confidence.”
With the property sector making a strong comeback, it is all the more reason for prospective home seekers and discerning investors to visit the Star Property Fair that kicks off today at G Hotel and Gurney Plaza.
The three-day event promises a host of fabulous home packages as well as fantastic prizes to be won in the ‘Surf, Click & Win’ contest sponsored by Hong Leong Bank and IJM Land Berhad.
Visitors can take part in the contest by bringing along the cut-out coupon printed in The Star from today to Sunday and exchange them for tokens at The Star redemption counter at Gurney Plaza’s new wing.
They can then proceed to The Star Contest Booth at level two of G Hotel next door, where there are four desktop computers for them to surf The Star’s property portal and answer two questions.
Upon exiting from the portal, participants are entitled to a lucky dip where they stand to win great prizes, including a 32-inch LCD television, netbooks, digital cameras and DVD players.
This year’s forums and talks are also equally exciting with the experts sharing their know-ledge on current and relevant topics on property related issues.