It is not every day that you find a home with a sea view, and this privilege often comes at a premium.
For instance, a condominium facing the Penang Straits on Gurney Drive, Penang has a price tag of above RM1 million.
But do you really need to pay more than a million ringgit for the privilege of an ocean view?
There is a house in Penang that also offers a view of the Penang straits for RM500,000.
The catch? The home is located in Butterworth, on Penang’s mainland.
According to a listing in TheEdgeProperty.com, the 3-storey townhouse which is located in Taman Bagan Jermal Indah, Butterworth, is on the market for half a million ringgit or an average of RM264.50 psf.
This renovated corner unit has a built-up size of 1,890 sq ft and land area of 1,400 sq ft with four bedrooms and three bathrooms.
Rina Properties real estate negotiator Patrick Tan told TheEdgeProperty.com a landed property in Penang island with a sea view is selling more than RM1,500 psf, but in Butterworth, the selling price of a similar property with a sea view is just between RM300 and RM400 psf.
“There are only 12 units of townhouses available in this area as the developer – who is also the landlord – built the homes for his family members over 10 years ago. Currently, some of them want to sell off their units for personal reasons,” he added.
Another agent who had just closed a deal for a townhouse at the end of last year at the same area said the property is located in front of the Butterworth Outer Ring Road, 300 m away from Bagan Ajam Toll plaza, and behind Chariton hotel.
"These townhouses are facing the sea. However, residents can only enjoy the view but not go across the highway to the seaside as it is blocked. Residents can, however, see the island if the weather is clear," she added.
Another listing of a different development showed that a 2,200 sq ft semi-detached house in Taman Bagan Jermal Indah in Butterworth is asking for RM740,000 or RM336 psf.
Interestingly, there is also a road named Jalan Bagan Jermal on Penang island, which is located within 1 km of the popular Gurney Drive.
Tan noted that after putting up the listing of the townhouse, he had received quite a number of enquiries for the property due to the unbelievably low selling price as they assumed the property was located on the island.
“Most of them are interested buyers from Penang, however, they will lose interest after knowing that ‘Bagan Jermal’ is actually another place in Butterworth,” he explained.
Online listings show that a bungalow with a built-up of 6,000 sq ft at Jalan Bagan Jermal in George Town, Penang, is asking for RM11 million or RM1,833 psf.
Meanwhile, a 2,674 sq ft unit in Gurney Beach Condominium located in Gurney Drive, facing the Penang Straits, is listed in TheEdgeProperty.com with an asking price of RM1.7 million or RM635 psf.
On the market outlook, Tan is optimistic of the growing potential of Butterworth, especially places which are near future infrastructure projects such as the undersea tunnel link to Penang island.
“Prices are coming up in Butterworth as the industrial and retail activities are gaining momentum in Penang mainland followed by a series of exciting developments such as Design Village Penang and IKEA,” he added. - The Edge Property