When Mr Yong wanted to move to mainland, his first choice is to move to somewhere is not so crowded. Bukit Mertajam is well known of traffic congestion area. Mr Yong shared with us that, he had search around the Bukit Mertajam town and few other area. Finally he bought into a double storey semi-detached house at Taman Kota Permai 2.
Taman Kota Permai 2, located within the bustling township of Bukit Mertajam, Taman Kota Permai 2 is a freehold residential area . It is the extension project from the Taman Kota Permai. Other residential area are like Taman Saujana Permai, Taman Permai Jaya, BM Utama and Taman Sri Rambai.
Double storey Semi Detached
Double storey Terraced
Taman Kota Permai 2 is only 15 minutes drive from Juru toll (Autocity) and about 25 minutes drive from Penang Bridge. The area is easily accessible to public amenities like primary schools, secondary schools and shopping malls. Basic amenities such as supermarket and wet market can be easily found within the vicinity of Taman Kota Permai 2 in which residents can easily purchase fresh produce or basic necessities. One can also find various restaurants, cafes, community police post, clinics, offices, saloons and more within the proximity of Taman Kota Permai 2.There is a medium size supermarket called Billions that cater for the locality needs. The bigger shopping mall like Tesco, AEON Jusco, AEON Big are just 10 minutes away.
Schools such as SJK(C) Beng Teik, SJK(C) Xin Ya, SMJK(C) Jit Sin, SMK Alma, SMK Permai Indah and Children Handicap Centre are some of the educational institutions that are located within a 2km radius away. Taman Kota Permai can be easily accessible using Jalan Kota Permai and one of the the nearest modes of public transportation is the Bukit Mertajam Railway Station which is positioned about a 2.31km away from the residential area.
This year is Mr Yong 3rd year staying there. He commented that Taman Kota Permai 2 is a peaceful and quiet place and it is nice to stay. It is also a rather convenient area to live in, as most basic amenities are located within the vicinity of Taman Kota Permai itself. There is a night market held outside the Taman on every Saturday night.
Nigh Market at Taman Kota Permai 2
Currently the occupancy rate is as high as 90%. There is a big field for the residential to do exercise and gathering during evening time.
Big Field
How much is Taman Kota Permai 2 Semi-D when launching?
I asked if Mr Yong mind to share his purchased price from developer, he said that he bought at $360,000 in 2010. Mr Yong added that his neighbour bought from secondary market at $520,000 in Year 2013. The compounded annual growth rate is 13% per year.
I done a quick check what are the selling price in Taman Kota Permai 2 now. To my surprised, the asking priced is as high as $800,00. Conservatively, I take it as $750,000. I recalculate the CAGR and it turn out to be 15.81%. The return is really good. Mr Yong told me that he is happy with the property priced increased. His equity has increased significantly due to the escalating property priced. However, he did make a good point saying that he cannot sell off and buy another one. The other property price also escalate at the same rate nearby the surrounding.
My person point of view that, with the opening of the Penang 2nd Bridge already open now, the priced will keep going up. Once the Penang Science park is full occupied and fully operation, there will be more demand on the landed properties in the area. As such, there is still very strong potential upside.
