Penang is a stunning island in Malaysia. It is also known as Island of the Areca Nut Palm and the Island of Pearls. This is one of the largest islands in the beautifully unspoiled seas of the Andaman area. Whether you are an expat working here or want to stay here for a few years enjoying the beaches and greenery then you have myriads of options to choose from. It goes without saying that being an island it has a wonderful coastline and properties that face the sea in many areas.
George Town is one of the biggest cities and its capital is known as the, where more than half of its population lives. The population of this diverse island constitutes people from all ethnicities and majority but some 46% are from Chinese descent. Rest of the people have come from different nations and it is a melting pot of many regional and international cultures. People feel comfortable living here due to this cosmopolitan culture.
What are the factors that drive the rents?
You can find different types of properties along the coastline and the rent will be different too. Sea view property for rent in Penang is spread across different areas along the coastline and provides an expansive view of the Andaman Sea. The different types of properties are condominiums, villas in gated communities or more reasonably priced apartment suits in multistoried buildings.
The rent differs based on the following factors:
- The location is important, even though the properties may be located near the sea. The view matters and decides the rent of a property. Bayan Lepas and Timur Laut are some of the sought after areas.
- Size of the house/ apartment, the number of bedrooms and bathrooms etc.
- The amenities in the house- fully furnished or unfurnished. It may also be different based on the facilities around the house- like a garden, playground for kids, security etc.
- You can see that penthouses and infinity pools really attract people to new properties.
- The rent may be RM 2500 per month upwards for luxury properties and will keep increasing depending on the factors mentioned here. In fact, some of the apartments near the promenade may cost you much less – around RM 1000 per month
- The prices also depend on the term of the lease. When the lease is for a longer period then the prices can be bargained and mutually agreed upon.
- Families love the ambiance of an apartment with all facilities like swimming pool, Gym and playground etc.
- The close access to shopping malls and other amenities like schools and hospitals attract locals and expats alike and will drive the rent higher.
One needs to be familiar with the prevalent rates and compare the different available properties. Do not sign the lease in a hurry. Penang is a much sought after place due to its cosmopolitan culture and proximity to the ocean. The sea view is spellbinding and adds to the cost of rental places. They are ready to pay the asking amount of rent and enjoy the luxurious lifestyle here. Go through a local agent to get the best deal in town and the best view of the sea as well.