Looking for an ideal place to live or start fresh once you officially retire? If you’re considering a move to the sunshine state, give Penang a look! It has been ranked as the “Second Best Place in the World to Retire” by travel magazine Condé Nast Traveler (CNT) and it’s also the one & only destination from Asia that made it onto the list! Penang is among the locations that was most sought after by Hongkongers since the introduction of Malaysia My Second Home (MM2H) services. Why? As compare to Hong Kong that well-known as the fast-paced 24-hour city, here’s a cozy life on little paradise of island; Hong Kong ranked one of the world’s most expensive cities in cost of living, but in Penang – here’s a great life can be had on a budget and you’ll never be bored! Moving to Penang, you will even live happier than in Hong Kong! Having doubts about this? The passage below definitely has what you’re looking for. Get ready to be surprised!
Why should I buy a property in Penang?
“I don’t want to be a housing slave anymore!” – This comes from the heartfelt voice of many Hongkongers. Hong Kong is well-known as the world’s priciest home market, even apartment in the size of a shoebox can be mind-blowingly expensive; and this has created a generation of housing slaves – in which many people have to spend all of their incomes and lifetime of work to pay off their debts. In contrast, the property in Penang is much cheaper: HK$200,0000 can afford a 3-Bedroom Superior apartment in Penang. You can use HK$400,0000 to buy only a public housing unit in Hong Kong, but in Penang, you own a 3000 sq. ft. townhouse! People living in Penang enjoy an excellent quality of life
combined with low cost living, and this is the main reason behind why more and more Hongkongers choose to settle down in Penang.
High Potential Investment in Penang Property
Penang has became one of the top location for investment in Malaysia, as potential second homes and for long-term investment purposes. A beautiful costal town with cool beaches, great food and vibrant heritage has made it an attractive magnet for investors from around the globe.
The city-beach properties are the most popular among foreigners: George Town for city slicker and Batu Ferringhi for sun worshipper. However, if you want to find a new place that has high-return potential, check out Balik Pulau and Batu Kawan! A mini-town surrounded by palm trees and durian farms, Balik Pulau is, of course, known for its fresh air and greenery. Under the development of Botanica CT project, there are variety of affordable housing units (terrace houses, semi-detached houses & bungalows) being launched here, with the establishment of the Prince of Wales Island International School and the coming up of iconic brands such as KFC & Starbucks. Batu Kawan, conveniently located close to the Penang Second Link bridge, is the new hotspot for property investment following by the infusion of residential, shops, schools, shopping malls, universities and parks. It is undoubtedly the ideal physical home to live in when the commercial portion of its development coming to fruition.
Penang Special Traits to Win Hongkonger’s Heart
It’s not just about affordable housing in an excellent location, Hongkongers are drawn to Penang for its fascinating attractions. First of all, The two cities share a common past – the British colonial atmosphere in Penang is just similar with Hong Kong; It feels like time has stood still in the older part of the Hong Kong with those ageing colonial buildings, heritage bank and old kopitiam with faded signboards – the lovely “old Hong Kong feel” will just grows on you. There’s not need to sweat a language barrier too as the Chinese make up the majority of Penang who mostly proficient in Cantonese, Mandarin, Teochew and Hokkien. You’ll feel a sense of belonging and fond for this charming city due to its potpourri of heritage and cultures, taste of food and, most importantly, its friendly and helpful citizens that will welcome you with open arms.’
Is the education level in Penang effective as Hong Kong? Worries no more! Penang is known for top- notch international schools where you can invest in your child’s future! Better news? You’ll find school with a balance of quality and affordability here. International schools in Hong Kong will impose an “admission fees” for around HK$200,0000 – HK$300,0000, which can be an extra burden to some parents. However, in Penang, such fee is a total exemption; and the tuition fee is much cheaper too as compare to Hong Kong! Besides, they focus on the concept of “happy learning” instead of test-driven local schools that are all work and no play. Such an effort is designed to produce happy, fulfilled, and successful students that can developed in a holistic and integrated manner.
The slower pace of life in Penang, without a doubt, deserves a mention. Here’s you can enjoy a balanced life, a life outside of work – having breakfast at favourite roti bakar stall as soon as the sun greets the island, go on a half-day hiking to feel the breeze of nature, “TVB drama night” that keep you glued to sofa seats throughout…these small things might looked ordinary but will give you an inner peace to enjoy every moment of life. When you connect the dots between all these little joys, life seems fuller and more satisfying. Who said life in the big city must be a fast paced one?
Who said high quality of living mean high cost of living? Who said buying a house is a luxury dream? Penang – the perfect place born to bridge you to good life and dream home!
Ready to take the next move? We’ve got you covered!
To learn more about MM2H information, check out:
Application and Fees for Malaysia My 2nd Home:
Introduction to Malaysia My Second Home Project:
9 Reasons Why You’ll Benefit To Join For The Malaysia My Second Home Project: