What is causing so much dissatisfaction with the housing market? Well, the provision of housing these days in large part, no longer fulfils a social function to provide people with homes within their budget. Instead, it has become a tool of wealth creation – for ‘investors’, financial institutions, speculators, and of course the developers.

In the meantime, people are evicted or displaced from their homes for meagre compensation and they are unable to afford housing nearer to city centres.

Investors and speculators buy the finished luxury houses and condominiums in the hope of long-term wealth accumulation. Speculators count on rising land prices. The banks earn loads of interest. The developers earn their profits and run.

This wealth accumulation from property has contributed to high income and wealth inequality. It didn’t matter if these luxury homes were left vacant or unoccupied by their wealthy buyers; in the past, rising prices more than made up for any lack of rental income – even as many ordinary Malaysians could only dream of buying their own homes.

Full article in Aliran website

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48 COMMENTS

  1. I think present foreign expatriates living on the island prefer less foreigners purchasing house commodity on island, as we can read the letter from one in The Sun paper link below :

    http://m.thesundaily.my/node/430815

    Not sure Anil’s regular readers especially the PHT or PR have any comments?

    • Soon there could be more PRC expatriates as Malaysia is doing more trade with China. Local Malaysian girls could target such rich PRC professionals and be guaranteed good expensive homes in Penang should they successfully get hitched into marriage?

  2. SAM: We depend on mangroves for food and protect our coastline
    https://sg.news.yahoo.com/sam-depend-them-food-protect-060045076.html

    GEORGE TOWN: All states, including Penang, should play a role in ensuring that the remaining mangrove forests are protected, a leading environmental group said.

    Sahabat Alam Malaysia (SAM) said no development should be allowed in mangrove areas as they were important for protection of the coastal areas and as breeding ground for marine life.

    “In Penang’s case, it is our hope that the state government gazette all the mangrove forests in the state as permanent reserved forest for protection purposes and not as productive forest.

    “We will be damned when the mangroves are gone as we depend on them for our source of food and to protect our lives,” SAM president S.M. Mohamed Idris told the New Straits Times.

    Idris said non-governmental organisations, civil society organisations, communities and government agencies had embarked on rehabilitating degraded mangroves by planting saplings.

    He said there were other government agencies which approved plans to convert the mangroves for other purposes.

    “For example, this happened in Bagan Jermal for coastal reclamation and Balik Pulau for aquaculture.

    “On one hand, there are measures to conserve mangrove forests, but on the other hand, mangroves are being cleared for development,” he said.

    Idris said ignorance on the importance of mangroves and human greed were some of the causes of mangrove destruction.

    “Some politicians do not care about the fisheries sector or the function of mangrove role as the first defence of the coastline… what matters is profit to be gained from the area,” he said.

    Idris said it was upsetting that the mangrove forests in the state continued to be cleared although there had been many protests, especially by the fishing community whose livelihood was threatened by development projects.

    “Recently, 9.38ha of mangrove area in Bagan Jermal has been reportedly destroyed to make way for a reclamation project.

    “This shows that the state government is not serious in protecting the environment and lives of the people, particularly the fishing community,” he said.

    Idris said past surveys revealed that hundreds of hectares of mangroves had been destroyed for the purpose of development and aquaculture projects, which threatened the source of income of thousands of fishermen in the state.

    “We hope that the project developer will take immediate action to replant the mangrove trees that have been felled to enable rejuvenation of the area for the sake of fishermen, future generation and the environment.

  3. Diminishing mangrove: Save them before it’s too late
    https://sg.news.yahoo.com/save-them-too-060447905.html

    GEORGE TOWN: Penang risks losing its mangrove forests within 10 years if unmitigated development continues to encroach on the areas.

    Penang Inshore Fisherman Welfare Association (PIFWA) has estimated that there is only a quarter of mangrove forests left compared to the area in the 1960s.

    PIFWA president Ilias Shafie said the remaining mangrove forests were fast making way for development.

    Ilias said the only areas in Penang with dense mangroves were in Balik Pulau, Seberang Prai Selatan and from Juru to the Perak border.

    “Right now, we do not see concerted efforts to protect our mangroves. Instead, the areas are being cleared such as in Bagan Jermal.

    “If this continues, we may lose all our mangrove forests within a decade and our future generations will never get to appreciate them,” he told the New Straits Times.

    The NST has recently reported that the remaining mangroves along the northern coast of Penang island were under threat by development.

    PIFWA has been at the forefront in the conservation of the coastal environment and replanting of mangroves,

    Fishermen from Bagan Jermal here had complained that mangrove areas covering nearly 10ha, or more than 10 football fields, were being cleared for a reclamation project.

    Ilias said even the mangrove saplings planted by PIFWA since 1997 had been cleared for numerous purposes, leaving only about 250,000 from 300,000 planted.

    He said when the tsunami hit parts of Asia, including Penang in December 2004, the mangrove forests had helped buffer its destructive impact and this spurred various quarters to have programmes to plant them.

    “Various agencies sprouted overnight to plant mangrove saplings. However, that was mere hangat-hangat tahi ayam (spur of the moment).

    “We hardly see anyone planting the mangrove saplings anymore… possibly, PIFWA is the only one doing so,” he said.

    Ilias said when PIFWA first planted the mangrove saplings, it was for fisheries purposes as the mangrove swamps served as nurseries and breeding grounds for many fish species.

    He said over the years, the mangroves had been cleared for establishing new villages, such as Tanjung Tokong, and setting up of industries in Batu Kawan.

    Large swathes of mangroves have also been turned into prawn farming, agriculture and aquaculture activities.

    Ilias pointed out that in the case of the 214.66ha Byram Mangrove Forest Reserve in Mukim 11, Seberang Prai Tengah, where century-old mangroves were once abundant, many had been destroyed due to leachate spillage, believed to be from a retention pond at the nearby Pulau Burung sanitary landfill.

    The other mangrove forest reserve in the state is the 166.38ha Balik Pulau Forest Reserve.

    “If the situation is left unchecked, the forest reserve will be adversely affected, and the mangroves will die.”

    Universiti Sains Malaysia’s School of Biological Sciences senior lecturer, Professor Siti Azizah Mohd Nor, said the loss of mangrove areas in some states in the peninsula had been estimated at 1.282ha, or one per cent annually, since 1990.

    She said mangrove areas nationwide accounted for 0.58 million hectares, which were predominantly in Sabah and Sarawak, in 2008.

    The Forestry Department has estimated that Malaysia lost almost 30 per cent of mangrove areas between 1975 and 2000 but there is no data on the size of the mangrove forests in Penang.

    Siti Azizah’s colleague Dr Foong Swee Yeok, also a senior lecturer at USM’s School of Biological Sciences, said she had been involved in studying mangrove ecology since 1992.

    Foong said mankind was behind the destruction of the mangrove ecosystem.

    “The pressure on mangrove is growing as the human population along the coast increases.”

    She said the status of mangroves as forest reserve had not spared them from being cleared despite rising awareness of their value.

    “Most of the losses in the past 30 years were due to conversion of mangrove forest reserves into farm land, shrimp ponds, urban development and port construction,” she said.

    Foong cautioned that if the mangrove forests were wiped out, the state would lose all the benefits from the ecosystem, such as for fisheries, coastal protection and sediment accretion, carbon sequestration, siltation reduction in rivers, bioremediation of waste and nature-based tourism.

    She said the massive root systems of a mangrove tree offered protection from tsunami wave flow pressure, especially on moderate tsunami impacted zones such as Penang.

    “Mangroves have significant value in the coastal zone due to the benefits they provide to the communities. Mangroves and its adjoining mudflats are ideal habitats and breeding grounds for resident and migratory wildlife.”

    For example, she said these habitats were often the wintering and/or staging ground for at least 30 species of migratory waterbirds, which usually foraged at exposed mudflat during low tide and moved to mangrove forest or marshes at high tide.

    Foong said many of the mangroves were potential nature-based tourism sites and a good example was the firefly tourism along Sungai Kerian in Nibong Tebal.

    “Unique and rare fauna in the mangroves further add to its attraction,” she said.

    For Noor Suhaiza Zainal, 24, who pursued her studies in natural resources sciences at Universiti Malaysia Kelantan, it would be a waste if future generations were not exposed to the importance of mangrove forests.

    “Most people usually associate mangrove forests with being dirty but it can be fun once you learn more about it,” she said.

    Noor Suhaiza is helpinging Ilias at the Pusat Pendidikan Kecil Hutan Paya Laut in Sungai Acheh, Nibong Tebal, which he plans to turn it into an educational forest reserve.

  4. IF housing is, as you put it, “a vehicle of wealth growth”, my advice is SELL!! Housing, real estate, at its worst, to the most unscrupulous developer, is means of extraction of public social well-being being. It is mostly means of saving and taking a share of growth. IT IS NOT GROWTH in itself. That is saying the means is the end itself and sure signal of a bubble.

  5. Extension of time vs abandoned projects – fact or fallacy?
    http://www.malaysiakini.com/news/374547

    COMMENT The immediate response by former urban well being, housing and local government minister Abdul Rahman Dahlan giving his purported rationale for the granting of extension of time (EOT) in his press statement dated March 3, 2017, is irrational.

    That the reason for the granting of an EOT is to ensure that housing developers complete their project does not hold water, because house buyers have no right to pursue liquidated damages (LAD) until and unless the houses have been completed and handed over. The question of LAD does not even arise unless the houses are completed and vacant possession delivered.

    This is clearly stated in Clause 25(3) of the Schedule H statutory sale & purchase agreement (Schedule G has a similar provision). It reads inter alia: “For the avoidance of doubt, any cause of action to claim for liquidated damages by the purchaser under this clause shall accrue on the date the purchaser take vacant possession of the said parcel”.

    The effect of an EOT is that the developers do not have to pay compensation or LAD to the house buyers after the project is completed and vacant possession delivered. Clearly, the only reason for granting an EOT is to save money for the developers.

    Businessmen must be able to accept the risks of doing business and not seek the government’s protection to ensure they continue to make money or do not lose money. And the government must not try to save money for the developers at the expense of the naive and innocent buyers.

    Helping developers save money?

    By issuing the EOT the minister is effectively allowing the developers to save or keep the money which should have been paid to the house buyers. The minister is effectively taking away money belonging to the house buyers.

    Has our country now reached a state of economic crisis that the minister must dish out EOTs to developers who are already in distress (due to bad management) and threatened to abandon their projects? Does it mean the minister will grant extension to every high-end project that asks for extension so that high-end buyers do not lose big money?…

    My Observation: Errant developers should be made ‘heavily’ accountable under a stringent law to protect house buyers. If you dare to charge high prices, then dare to compensate buyers. No more silly excuses, which some political traders (indulged in corporate-political tango) seem to sympathise with these recalcitrant developers.
    Otherwise, some recalcitrant politicians (who don’t fulfil their football field GE-ceramah promises) may also ask for Extension Of Time (to perform) from the Rakyat.

  6. Capitalist propaganda tells us that (a) responsible developers and a caring gomen are giving us safe, valuable houses with wonderful surroundings (b) it is not possible to provide cheaper houses. Capitalism views socialism as a deadly threat. In the “most democratic nation,” fascists succeeded in eliminating socialists and unionists from late 19th. century to the late 1970s, through condemnation and state brutality.

    The means to suck our blood (called debt slavery) and keep us running the rat race include (a) secrecy in projects, costs, approvals and concessions (b) disallowing small-scale and individual innovation, especially in housing design (c) hindrances due to the convoluted bureaucracy and discretionary authority (d) impractical, grandiose urban sprawl (that increases distances travelled).

  7. After a long silence on the expose of the Johor land scam, Menteri Besar Khaled Nordin finally attempted to provide an explanation.

    However it sounded more like an excuse rather than serious reasons.
    According to Khaled, since 2013, developers are allowed to apply for the conversion of Bumiputera housing lots by making a 7.5% contribution – or half of the 15% Bumiputera lot discount – to the state, with projects prior to 2013, eligible for lower payments.

    The contributions or collections acquired through payments to convert the lots and release the Bumiputera status are then channeled to a Bumiputera Housing Fund.

    Khaled said the fund, which has amassed RM600 million since 2013, will then be used by the state for pro-Bumiputera projects such as acquiring land for affordable housing, and building up bumiputera shop lots.
    Khaled’s explanation is grossly inadequate. He failed to explain the real issues.

    MACC had arrested 7 suspects and frozen RM15.5 million in 45 bank accounts, as well as seized 21 luxury cars, five high-powered motorcycles and RM500,000 in local and foreign currencies.

    According to MACC, the suspects had converted the statuses of Bumiputera quota units into non-Bumiputera quota units in order to sell them at higher prices.

    The public expects the Johor State Government to commit to a thorough investigation, and to account for the land scandal in an open manner, which includes having an independent audit of the conversion of Bumiputera units since 2013.

    There are so many questions to be answered. Was those investigated by the MACC were just a tip of the iceberg? The State Government has collected RM600 million from the scheme, which is a substantial amount; could there be more abuses?

  8. Ironically housing developers are recognised with awards for building homes that are beyond the means of average Malaysians (assuming they do not take long term high loans). Even most of the developer taukeh got datukship for the ‘contribution’ in housing sector.

  9. Alternatives to brick + mortar housing: Container homes – cheaper, fast to build, requires less space, stackable. Rent a land space or buy one to build over it.
    Also, no tied down to an asset that may eat your substantial savings (or an entire life of work for money).

    24 Breathtaking Homes Made from.. $1800 Shipping Containers
    http://organics.org/24-breathtaking-homes-made-from-1800-dollar-shipping-containers/

    THINK INSIDE THE BOX WITH THESE TRICKED-OUT SHIPPING CONTAINER HOMES
    http://www.digitaltrends.com/home/fifteen-amazing-shipping-container-homes/

    Shipping Container Homes
    https://www.niftyhomestead.com/blog/shipping-container-homes/

    • Container home is not practical under our hot weather unless you air-conditioned it and pay high electricity bill.

      Housing price is going up and people should question why their income could not go up in tandem. Do not believe in the stupid Ah Jib’s suggestion of taking up 2nd job or drive Uber to supplement income. The core issue is our nation has not been competitive and productive given the laid back culture living on subsidies. Call Singapore Kiasu but it’s people strive hard to be world’s best (not comparing itself with the likes of Zimbabwe and Saudi Arabia) to be in the league of First World that commands good salary and strong currency. Not forgetting the nation has HDB housing that provides homes to 98% of it’s citizen.

      A few days ago on NTV7 news an elderly chinese coffee shop operator complained that the authority is clamping hard on his 7-8 Indonesian workers. I have no.pity for such businessmen living off the cheap foreign labour, thus suppressing wage growth. Go to any coffeehouse, Mamak shops or restaurants and you will see too many workers, presumably on low wages, as the operators are ignorant about productivity at all.

      • Anil should come to Pisa Corner to witness ori-maestro Bangladesh chefs trained to prepare “kai fan”, rice with egg and meat option for RM6.90.

      • Tua pek Kong always bark at wrong things. Many shops are employing cheap labour. So when the owner is getting older, the kopi tiam will be closed as the younger will not and unable to take over. Another heritage and tradition gone. Tua pek Kong should tell gilakan central Gomen to reduce work permit

      • I was concerned about heat in container homes as we are in the tropics but we should think out of the brick + mortar box (instead of lamenting low wages) if we are to survive in this low-wage economic cycle (which is not going to evaporate any sooner). Container homes are possible in Malaysia, so read on:

        Building With Shipping Containers In The Tropics (Part 2)
        http://www.greenasiaforce.com/building-with-shipping-containers-in-the-tropics-part-2/

        Heat problem can be tackled easily by insulation

      • Stupid reasoning. Then your reply also infer why not add insulation to all brick and concrete buildings and save air cond and hence less demand for electricity and hence coal burning?

      • Ronald is right. Should seriously ask ourselves why real wages never go up under the Barang Naik environment. The nation is too focus on short term gain in having cheap foreign labour without pushing for productivity gain. Can you give your mandate to BN for another 30 years to do damage with its TN50 vision? Fikirlah sendiri as Singapore is focusing on its next 10 years with its New Economy vision.

      • You guys like to compare Malaysia with Singapore, but do you know that Singapore could be slipping into a technical recession this year. People gets laid off especially in the manufacturing since last year and their oil industry (i.e. Sembcorp) is also limping along like our Petronas. So Singapore is not that great, if it is , you would have tore up your passport and move there already.

        And also what’s so great about Singapore when 42% of Singaporeans themselves wanted to migrate out of the country if given a chance. Only silly Malaysians would want to go there to live.

        http://news.asiaone.com/news/singapore/42-cent-singaporeans-want-migrate-survey

        Like you have said, productivity starts with the businesses itself, mostly SME enterprises, and again, who own all these businesses? Chinese towkays, yes? Productivity starts with them, so why blame the government again?

        And what’s wrong with taking up a second job as Uber driver? If you don’t want to work hard, then don’t blame the government of the day. The core issue of this nation is people like you who complains everyday on social medias on how bad Malaysia and UMNO is when you are living a pretty decent life. Do your part and stop complaining and take some self initiatives to make this a better nation.

      • Singland are well travel and passport to more countries than here. Their income is high and hence they are mire exposed. Singland is an international city. During primary and secondary schools, they are educational tours overseas. Further, during nat. Service, they are send to uncle Sam. Kangaroo land, formosa for training. What do you expect fromnthem. here we are still kg champion living in thinking of turning back Penang to days of Elvis the pervis and spin around.
        Stupid argument. When oil is down, all oil related construction is down. Most affected are Malaysians and pg Lang and many migrant workers working in singland

      • Malaysians deprived of opportunities due of skewed policies go to Spore to earn livings, work 10 years there equals to 30 years in Msia, and can come back if wanted to buy home with no complaints.
        Singaporeans likewise after making fortune then can choose to migrate elsewhere.

        Engineers in Msia can choose status quo to remain in Malaysia if can find lobang connection to exploit with barang naik also a choice.

      • Sell now?
        No more hot money from China, and soon developers will have to launch fire sale.

      • The kopitiam taukehs want their children to pursue professional career and employ cheap Indon kakaks to operate the kopitiams, so long term the kids not taking over.

  10. If got no money better not purchase property for speculation using bank loan or ah long money. Can get burnt because now too many units built and the Malaysia economy is also going through hard times this year. You can end up losing more as ringgit is dropping each day.

    • Following the depreciation of the ringgit and recent petrol price hike, the CPI rose 3.2% in January. While Malaysians in general feel the pinch, our ministers only see the rosy picture of a 4.5% GDP growth in the last quarter of 2016. Government statistics show 8,277,391 individuals had applied for BR1M, but, this is not something we should take pride in. It only shows that many in this country are still making very little every month. With the ringgit continuously on the slide, we are getting further and further from the ultimate goal of a high-income nation.

      • BR1M is the evidence to the world that 8 millions out of 30 millions population need financial aid to cope with daily barang naik pressure. What a disgrace!

  11. Housing can’t be reduced to a financial asset for the wealthy, says UN expert
    http://aliran.com/civil-society-voices/2017-civil-society-voices/housing-cant-reduced-financial-asset-wealthy-says-un-expert/

    A United Nations expert has issued a strong rebuke to the dominance of financial markets in the global housing sector.

    In her latest report to the UN Human Rights Council, the special rapporteur on the right to housing, Leilani Farha, addresses the repercussions of a hyper-financializsed housing market that pits speculation against human rights and pushes the cost of housing out of reach of most households.

    Farha told the Human Rights Council in Geneva that: “Housing has lost its social function and is seen instead as a vehicle for wealth and asset growth. It has become a financial commodity, robbed of its connection to community, dignity and the idea of home.”

    Her report examines how housing, representing almost half of all global assets and more than twice global GDP, has become a repository for global capital, and the impact of the commodification of housing on affordability and homelessness.

    It traces the current crisis to widespread deregulation of markets and capital flows, and highlights the effect of new financial instruments allowing housing to be traded as a commodity on global credit markets.

    “The financial world has essentially operated without any consideration of housing as a human right and States are complicit: they have supported financial markets in a way that has made housing unaffordable for most residents.”

    “This is an issue of accountability,” she says. “Government accountability to international human rights obligations has been replaced with accountability to markets and investors.”

    The report recommends stronger rights-based frameworks both domestically and internationally to address the problem. It suggests that States must regulate private actors not simply to prevent blatant violations of human rights but also to ensure that their actions are consistent with the obligation to realise housing as a human right for all.

    “The consequences of placing the interests of investors before human rights are stark. Millions of people around the world are being evicted through foreclosures, or being displaced by development, and priced out of cities,” she warned.

    “Under the Sustainable Development Goals, States are required to ensure adequate housing for all by 2030. If they are serious about that commitment they will have to implement rights-based housing strategies and ensure integration of human rights standards and principles within housing markets and financial institutions.”

    Farha presents her report to the UN Human Rights Council in Geneva today, Wednesday, 1 March. She will also present the reports of her official visits to India and Portugal.

    Leilani Farha (Canada) is the UN Special Rapporteur on adequate housing as a component of the right to an adequate standard of living, and on the right to non-discrimination in this context. She took up her mandate in June 2014. Farha is the executive Ddirector of the NGO Canada without Poverty, based in Ottawa, Canada. A lawyer by training, for the past 20 years, Farha has worked both internationally and domestically on the implementation of the right to adequate housing for the most marginalised groups and on the situation of people living in poverty.

    Source: United Nations Office of the High Commissioner for Human Rights

    • While we are on housing issue, Minister in the Prime Minister’s Department Abdul Rahman Dahlan has denied abuse of power in granting an extension of time (EOT) for the construction of condominium projects by BHL Group of Companies.

      The Housing Minister can interfere in a private project and he is not influencing by his friends who have interests in the projects. What about the recent exposure about gun licences given to a few individuals? No conflict of interests again?

      A PM who does not even know that millions of dollars are flowing into his personal bank account. So, this is the Sha-la-la land where the highest integrity and standards are seen. I wonder if all those reports from overseas which ranked this country poorly in corruption are just totally wrong or inaccurate. Not to mention the poor standard of justice in US or Singapore where assets are seized or people are jailed while our AG gave a totally clean bill of health to the PM. The world should learn from us.

      • Haha, when talk about this Abdul Rahman Dahlan ?
        There are many people who dealt with him before would definitely tell you: “Ah, that guy always like to throw his weight around just before you open your mouths !”

      • Typo : MACC should probe the ministerial abuse of power extending the house delivery deadline for errant developers.

      • Rahman Dahlan has argued that the granting of EOT is also based on merit. If every developers can get away easily with EOT then the S&P will lost it functions and meanings. The developers will always think that by just kowtim the minister all things will settled. So, the impact will be the developers will not be bother of completing their projects in time and will resulted many projects to be delayed and became uncertained and further loss to buyers. Why BN leaders are fond of taking care of developers in sacrifice of buyers right and interest?

      • The Court ruling has proved that Rahman Dahlan has no merit in his decision in granting the OTS and therefore has [allegedly] abused his power as a minister. Look like he is more a developer man as apposed to buyers protector. Talking also like a developer spokeman. MACC ought to investigate this case just like the LGE’s bungalow case.

  12. SPECULATE (A FORM OF GAMBLING) ON PROPERTIES WHEN OTHERS (GENUINE BUYERS) SUFFER?
    SHOULD HOUSING (MORE A SOCIAL NEED, NOT A BIN-CHUI WANT) FOR MAJORITY BE COMMODITISED LIKE GAMBLING CHIPS?

    No wonder greedy developers refuse to build more of affordable housing (200K – 250K priced realistically) for the majority of genuine house buyers (who buy to stay, not buy to leave them empty).

    Knowing the high-price brackets will generate higher incomes / profits, these developers (property gurus not excluded) will go to all ends to justify, even on the basis of a hike in Penang water rates (don’t tell us the Indon foreign workers bath 5 – 10 times a day!).

    There are other less socio-economic-disruptive ways to invest in:
    1) start-ups which actually helps local businesses & increases job creations
    2) eco-ventures like green energy productions
    3) talents (potentials from university graduates, art & music talents, inventors, etc)
    4) private education institutions which offer affordable education
    5) R&D of industries such as bio-tech, softwares, eco-agro farming, bird nests
    6) drinkable water harvesting, production & stockpile (this is a future hedge against unpredictable water supply under an unpredictable weather pattern)
    7) anything worthwhile beyond the “greed is good”

    • More private uni? Not enough? Want businessmen to mass photo more uni grads like houeses? stupidest statement as central gomen is cutting down scholarship and senting students overseas. You want to stockpile water, then tua pek Kong expect more cutting of trees and hills for land clearing. What a silly comment

  13. Consumers have choices. If Penang island homes too expensive, go for alternatives on mainland.
    No need die die must live on island.

    • Consumers also have smart choices not to buy (over-priced properties to profit greedy developers) but to rent instead.
      It also boils down to where one is working for a living. Fuel price increase & bridge tolls are factors against moving to mainland.

      • why tua pek kong roost about developers when you also acknowedge consumers have the choice. just copy cat and troll about what i say abour consumer’s choice now

    • Mainland homes are cheaper and the standard of living is lower and less traffic congestion.
      Stay in Butterworth as Penang Sentral will provide the easy connectivity to the Penang island via ferry.
      Also no need to get frustrated seeing rich people enjoying themselves in the consumer world.

      • The Feds will most likely do to Pg Ferry, what they did to Pg Hill Railway – to replace the iconic ferries with Speedy Gonzales aluminium fast speed ferries.

        Heritage value is worthless to the eyes of the Feds when it is not a profitable kang tau to their cronies. How to jack up the price of refurbishing old ferries?

      • pg forum and tus pek kong are good at bullying pg gomen with with complains. but they dare not complain to federal on ferry service. pg forum is sitting in trsnsport council just for name and do nothing. even cant convince ferry service to produce time table. just good in making noise.

      • Pls be sensible. This is not about jealousy but a serious socio-economic issue which can also affect you some day.
        Or you prefer to see others suffer?

  14. In this report on The Star on 15 December 2010, Henry Butcher said Penang Property is a Goldmine for investors.

    http://www.thestar.com.my/news/community/2010/12/15/penang-property-a-goldmine/

    PROPERTY in Penang will continue to remain a favourite choice among investors as it is expected to show returns that are above the national average.

    Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Jason Teoh said property investment was generally perceived to have a longer term horizon as it was not so volatile compared to stocks.

    He said investing in property had proven to be a good hedge against inflation because the returns ge-nerated were higher than the Con-sumer Price Index.

    • The local media like The Star are paid by property developers and agencies to fuel speculative demand with such articles. Property is now an investment commodity like it or not, now that people are beginning to lose faith in Malaysian economy and the depreciating Ringgit, hoping that their investment in property can bring better return.

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