Is Penang Property Price Too High?
I certainly agree with you that a normal working adult can not afford to buy a landed property in Penang Island and you might know, Penang island property price is the highest in Malaysia, even above the level of KL property. However, as compared to property in Singapore, we are still far far behind.
One lesson I learned in property investment is the property price always lag behind stock market about 3-6 months, which means when the market is bull, the price in property will shoot up after 3-6 months behind stock market.
However, be aware that I told you that the market will make a U turn likely in 2012, therefore I anticipate the property price will cool down starting from middle of 2012.