Yes, as I told you before, for you to get a property that gives you 8% rental return is almost impossible in Penang. However, recently I noticed an interesting trend in Penang property market. Yes, there is a hidden gem in Penang area that is left unnoticed for very long time!!
|Bandar Tasek Mutiara, Simpang Ampat|
Some of you might know that I come from Seberang Perai Selatan. I bought my first property in 2001. It is a terrace house in Bukit Tambun, Simpang Ampat. The purchase price was RM170K back then and sadly, the price never appreciated for the past 8 years. The good news is the launching price for a terrace house around Simpang Ampat is now around RM220K, That translates to almost 30% capital appreciation in 10 years which is 3% per annum.
But what suprises me most is I rented out my house recently at RM1100 per month!! Wow, that is a solid 7.7% rental return for a landed property!! I think you can't get it anywhere else in Penang except in seberang Perai Selatan!!