Penang has dislodged Kuala Lumpur's Golden Tringle as the top investment choice
GEORGE TOWN: Penang has now overtaken the Klang Valley as the most attractive place for property investment.
In its Malaysia Commercial Real Estate Investment Sentiment Survey 2016, global property consultancy Knight Frank Ma-laysia said the state had dis-lodged Kuala Lumpur’s Golden Triangle as the top investment choice.
Penang garnered 67% of the overall responses while the Golden Triangle slipped to fourth position with 49%, finishing behind KL Fringe/ Klang Valley (56%) and Johor/Iskandar (55%).
The survey took litmus test for insights and preferences of key players namely fund managers, developers and lenders in the commercial sector for the Year 2016.
It targeted 700 respondents in senior management levels across the property industry.
Half of them (55%) were deve-lopers while the rest were commercial lenders (24%) and fund or real estate investment trust managers (21%).
Last week, George Town was picked as the sixth ‘Best place to retire abroad in 2016’ by CNN Money.
Source: Knight Frank Malaysia/The Star
That’s Right, Penang Just Beat KL To Become The Top Choice For Investments
It appears that more people are keen to invest in Penang than in Kuala Lumpur, as a survey by Knight Frank Malaysia shows that Penang garnered over 67 percent of the overall response.The survey also revealed that Kuala Lumpur Central Business District (CBD) (Golden Triangle), which was the top investment choice in 2015, was dethroned and dropped to the fourth ranking with 49 percent of the responses, coming after Kuala Lumpur Fringe/Klang Valley (56 percent) and Joh
Penang was also voted as the most attractive investment region for hotel or leisure and healthcare or institutional developments, possibly due to George Town being inscribed as one of UNESCO’s World Heritage Sites and the popularity of the state for medical tourism
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- Image via Travel2Penang George Town is recognised as one of Unesco’s World Heritage Sites.
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Penang garnered the highest vote from respondents by getting 86 percent of the votes for most attractive investment region for hotel or leisure and 79 percent of votes for healthcare or institutional developments.
Kota Kinabalu came in second for the most attractive investment region for hotel or leisure with 67 percent while Johor clinched the third spot with 59 percent.
As for the healthcare or institutional developments, Klang Valley and Johor gained 72 percent and 69 percent of votes respectively to be the second and third most popular region.
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Image via Knight Frank Malaysia
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The Malaysia Commercial Real Estate Investment Sentiment Survey
2016 was conducted using an e-survey mechanism distributed throughout
Knight Frank’s vast database as well as in-depth interviews with key
players in the local commercial sector.
There were some 700 respondents in senior management levels this year, with 55 percent of them being developers, 21 percent fund or real estate investment trust (REIT) managers and 24 percent lenders.
- Home of a UNESCO heritage site, Penang's landscape is the perfect blend of old and new. Take a look at how the city has beautifully transformed over the years!
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Making a trip to Penang? Don't forget to check out these places!
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Born and bred in the Pearl of Orient? You'll know what we are talking about! ;)
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