The most expensive landed residential properties on the Penang island today are located in Tanjung Bungah, Tanjung Tokong and Batu Ferringhi in the North-East district, and Sungai Ara in the South-West district. These properties are three-storey terraced, three-storey semi-detached and three-storey bungalows, which are priced between RM800,000 and RM3mil. The builders are reputable developers from Kuala Lumpur and Penang. Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Teoh Poh Huat said: “Generally, the value of landed residential properties in these areas have appreciated by about 10% yearly since the dawn of the new millenium.”
(11-02-2008 The Star)
