Waterfront living in Penang

Mixed-use properties have always been popular with property investors, and when you throw waterfront living and resort charm into the mix, the popularity index may just shoot up the charts.

The Light Waterfront Penang

Photo credit: IJM Land

Waterfront properties are not only increasing in numbers locally, but also across the border in Malaysia. In Penang, a new waterfront mixed-use development is being planned for about 5 kilometres away from George Town, spanning more than 750 metres. With a shopping mall, residential blocks, hotels, convention centre and an office tower, it looks set to be a self-contained township on its own. The residential property linked to this development is named The Light Waterfront Penang and will boast 1, 177 private condominium units and villas. Most of these units have already been completed and sold.

Despite recent news about a possible supply glut in the Iskandar development, specific areas still hold their worth in terms of property investment. Foreigners who are hoping to invest in properties in Malaysia are governed by certain rules but with sufficient knowledge at hand and experienced agents or agencies by your side, it is possible to find something worth your time and money.