Penang, located on the North West coast of Malaysian peninsula came to existence as a prominent part of Malay Sultanate at Kedah. Since then the area has seen many ups and downs. From 1970s till the 1990s, the place earned ample popularity as being one of the principal manufacturing bases of electronics in Asia. Another achievement for Penangites was the inscription of George Town, the historical capital of Penang, as a World Heritage Site by UNESCO in July of 2008.
The city has also earned the fame of being one of the most livable places in Asian continent. The multi-cultural traditions have many facets that are prominently visible in the celebrations, colorful festivals and the rich historical infrastructure of Georgetown, its capital. The recent addition of Penang as a subsidiary of Malaysian Airlines is another reason that has added significantly to the popularity of this island in Malaysia. Many flights connecting Penang to the major cities in Malaysia have now been started on a regular basis to help travelers enjoy easy connectivity and accessibility.
Investing inproperty Penang:
The recent announcement of the NCER project that incorporates Penang as a major part of the master plan is like a golden opportunity for everyone. This addition is anticipated to play an important part in the logistics and transportation of the place, thus helping in an easy getaway to the same. The surge in the number of new developments in recent times has more attenuated the popularity of this part of real estate Malaysia. The seafront of this island with the high end projects have impressed buyers from all over. The excellent sea facing view and the luxurious facilities of living at this place have helped both foreigners as well as local investors eye the same as that ideal property destination.
The new trends in Malaysian real estate:
Properties in Penang are earning ample popularity among people belonging to not just the country, but outside. On one hand its the developers who are creating master pieces while utilizing greener technology and on the other hand its companies and agents in real estate that are offering investors and buyers much lucrative deals than before. Many new methods of property buying and selling have also been introduced to help all enjoy a win-win situation. Just one such newest trend that has earned great popularity in recent times is online bidding . A transparent method in which nothing is kept hidden from the buyers and sellers, people find this process not just authentic and legitimate, but also convenient and affordable. Everything under this method is carried over the internet and requires no practical involvement in most part of property transaction.
The bottom line:
The increasing number of renovation firms who have an expertise in the field of handling and managing extensive renovation projects has further helped in changing the face of properties in Penang. Further the addition of many tax friendly rules and alterations in the buying and selling of properties is a buyer affable step that the Malaysian government has taken to promote this area of Malaysia.