Property investment is booming in the Penang Island. There are a lot of investors who are into buying property. Last week, there was a new condo being launched and I heard that people will queue for 2 days. I am not sure if it is makeup publicity. I read in a property website that the developer may have paid someone to be in the queue and spread some rumors that the property is a hot cake. I am sure there are some naïve buyers who fall for those tricks. Don’t be one of them.
If you know the property market of the area, you will be wise to know where to invest. Currently there are so many condo units in Penang that are empty. All are waiting for buyers to own it. Many could not even rent it out but they have to keep paying loan and maintenance fees. At the end of the day, the developer is the one laughing to the bank.
Let’s not make Penang Island to be a place like Hong Kong where the property are too expensive for your future generation!
