In the past, i always think that properties at the Tanjong Tokong and Gurney area are valued at high price. That is one of the reason that I still not own a piece of rental property at these area. However, I met a young energetic lady who own her house there. I decide to do some in depth study to this area with her information provided.
Tanjong Tokong and Gurney are famous with tourist spot and have a lot of expatriate staying in these area. Nevertheless, there are make up with local Penangites too.
Villa Batu Bukit is a 4 storey apartment block with a swimming pool facilities. It is a low density community. Nearby there are Island Plaza Complex and Prima Tanjung Business Centre. The property obtained CF on 2004. It is freehold property with three bedroom and 2 bathroom. Monthly maintenance fees is a $200 per month. There is no information about the price during launching. However, my friend bought it from sub-sale market in year 2005 at $255,000. Her property size is 950 sqft and come with 2 car parks. It translate to $268/sqft. 2 car parks is a must in current society and rare to find. The car park for new launch can go as high as $50,000 for additional car park. The original unit came with water heater. The developer give good quality of toilet bowl, which is from American Standard brand. Straits quay is the most expensive seafront property in Penang and Villa Batu Bukit is just 5 min drive to Straits Quay.
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Villa Batu Bukit
Why people buy into Villa Batu Bukit?
There are a lot of amenities nearby such as market, shopping mall, banks, school etc.The nearest schools include Tanjong Tokong National School, Hun Bin Chinese Primary School and Tanjong Bunga Secondary School. Tesco Tanjung Pinang, Island Plaza and Mount Miriam Hospital are a short drive away. It is very convenience for the local and expatriates to settle their daily routines.
My friend said that Tanjung Bungah is always her favourite area. It is because it will not too far from town. Since Villa Batu Bukit is low density, the whole community is very quiet. The transportation has improved recently with the introdcution of Rapid Penang bus pass through this area area.
What is the Compounded annual growth rate for Villa Batu Bukit?
Do a quick check from online, average asking price is $540,000. There is one check point at 2009, mentioned that Villa Batu Bukit is selling at $380,000. CAGR at then is 10.5%. Compounded annual growth rate for Villa Batu Bukit from 2005 till 2015 is 7.8%.
Rental Yields for Villa Batu Bukit:
Quick check for the current rental is asking only $1500. It only able to fetch 3.33% yield for the investor.
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