Monday, July 27, 2009


Palmyra Residences, Balik Pulau, Penang.

This is our largest investment so far, taking risk, hoping that Balik Pulau will be a more develop by the time Palmyra is completed with the revived highway making the place more acessible from Bayan Lepas. We visited Pinang Village (by BSK) few days ago, the houses were actually quite nice and bigger, selling at RM388,888. However, the location of Palmyra is more strategic with many facilities established.

We placed a RM5000 booking fee for Type A (20x62) double storey terrace sold at RM398,900 last Friday (24th July). We had to make quick and prompt decision as the houses were selling like hot cakes. The property number 132 that we targeted at their Queensbay Mall exhibition were sold by the time we visited the show house in the evening. We had to settle for another unit (which we'll keep a secret here). We managed to secure the 5/95 loan package as well. EON Bank and AmBank are the developer's financing partners.

The prices as of 27th July 2009:
Type A Double Storey Terrace (20x60): RM398900
Type B Double Storey Terrace (20x64): RM424900

We visited the show room, the house is nicely designed, however some of the things I wish the developer will take note (saying this as a wife and a mother):
- include a balcony instead of letting the car park roof top go to a waste. At least we can hang our laundry there
- instead of having a maid's room, to have a nice 4th room with a window for ventilation. Not everyone can afford (or want) a maid.
- have 2 more air cond points for the 2nd and 3rd room
- have 2 more ceiling fan points for the 2nd and 3rd room
- the small balcony at the 2nd bedroom is not really necessary.

This is probably the biggest loan for people like us, young working adults to bear, so let's pray that prices will appreciate fast and Balik Pulau will be the next hot item in Penang!

photo from Belleview website

If you have any new updates on the project development or photos, pls send it to us at
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