Penang property sales data Q3 2008 summary in term of value of transactions by property sub-sectors, # of residential property transactions and # of residential property transactions for Penang Island only.
For value of transactions: -Penang Q3'08 property sales slightly dropped -1.5% compared to Q2'08 and increased 4.1% compared to Q3'07. -Residential property remains to be the main sectors contributing 58.2% followed by 13.9% on commercial property.
In term of numbers of residential property transactions:
-Up trend: increased from 3749 transactions in Q2'08 to 4138 transactions in Q3'08 (+10.38%)
-Flat contributed the most numbers of transactions (841/4138: 20.3% in Q3'08)
Numbers of transactions only in Penang Island:
-Up trend: from 2344 transactions in Q2'08 to 2531 transactions in Q3'08 (+7.98%)
-Top 3 transaction involved flat, condo/apartment and low-cost flat
-Penang island only transaction made up of 61-63% of total transaction in whole Penang state
Source: http://www.jpph.gov.my/ (Jabatan Pernilian Dan Perkihdmatan Harta-Kementerian Kewangan Malaysia). Full detail report: http://www.jpph.gov.my/V1/pdf/q308Pulau_Pinang.pdf
Process and experience for buying investment property
Short article describing the process I used and my experience in buying property for investment.
Frequent property investment question: what is Penang property price and rental?
Frequent property investment question was how much is the property and what is the rental to determine whether it is worth investing and able to generate positive cash flow. In addition, we were always told to buy property below market price but the question is what is market price and rental of the property we are interested to invest?
Why Property Investment for me?
Passive income is different from active income whereby you have to exchange your time to money, it is generated even though you do not actively work on it. The book "The Parable of the Pipeline" by Burke Hedges explains the concept of making passive income streams very well. There are several ways or investment vechiles to generate passive income streams toward financial freedom for example rental properties that give you positive cash flow, fixed deposit, stock dividend, bond, mutual fund, internet marketing, royalties from book or song you have written, franshising etc..
