Having come a long way since its beginnings as an exotic trading post, Penang is now internationally recognised for its many features offering expatriates with diverse needs a delightful home.

Penang has long been known as an island of exotic delights, not just for idyllic holidays, but for long-term residence. Penang’s attractive island lifestyle has been officially recognised, with the Pearl of the Orient listed as the ninth "most liveable city for expatriates" in Asia.

The ranking, announced in mid-2008, was made based on an annual study by consulting agency Employment Condition Abroad Limited, among expatriates living in 254 cities in Asia. The aspects taken into account in the study included infrastructure, health services, security, political situation, housing, air quality and weather.

Premier Property Destination

Despite competition from neighbouring destinations like Phuket, Bali and Singapore, Penang still has an upper hand as a premier property destination, says Lim Ewe Tatt, Chief Operating Officer of International asset consultant Henry Butcher Malaysia (Penang) Sdn Bhd (HBMP).

“The cost of living in Penang is still much lower as compared to these countries. The friendliness of the people who are mostly conversant in English is an added advantage,' Lim said in an article published in Malaysia Business magazine last February.

Second Home, Ultimate Haven

Many of the foreign residents in Penang have come via the Malaysia My Second Home (MM2H) programme, introduced by the Government in 2002. Of the 10,000 or so people who have signed up with MM2H so far, more than half are believed to be residing in Penang, originating from the UK, Japan, Bangladesh, South Korea and China, among others.

HBMP is spearheading an effort to boost Penang's standing among foreign buyers with its own Property Investment and Second Home (PI2H) programme, aimed at complementing the MM2H initiative. PI2H will see roadshows targeting countries such as the UK, Hong Kong, the Middle East, Japan, Indonesia, South Korea, Singapore, China and Australia.

Assets to Attract All Residential Profiles

Many of the foreigners residing in Penang, whether employed expatriates, retirees or foreigners just looking for a second home, enjoy Penang’s exceptional combination of high standard and low cost of living, tax-friendly system, as well as low property and rental costs. For many foreign retirees, living on their pension in Penang affords a much better quality of life compared to living in their home country – or in many other countries, in fact.

For parents with children, the fact that Penang has five international schools (St. Christopher's International Primary School, Dalat International School, Tenby International School, International School Of Penang (Uplands) School and Fairview International School) is reassuring, as their children’s educational wellbeing is taken care of. Long a bastion of education in Malaysia, Penang is home to Malaysia’s second oldest university (Universiti Sains Malaysia) and is still a regional education hub which attracts students from foreign countries due to its quality education and affordable tuition fees.

Quality Accommodation

Penang has a range of quality accommodation to suit a variety of needs. From the northern coast to central zones, the island offers bungalows and semi-detached homes, apartments and high-end condominiums equipped with state-of-the-art facilities – and seafront views, of course!

More exciting developments have been unfurled to provide luxury living in Penang – the Hunza Properties Group has drawn attention with two of its projects, its flagship Gurney Paragon development, and the Infinity Beachfront Condominium.

Sited on a 10.21-acre site of prime freehold land, Gurney Paragon is an integrated development offering two blocks of high-end condominiums, a shopping mall and a spacious festival square. Its dual frontages offer breathtaking views and immediate access the Gurney Drive seafront promenade on one hand, and the Kelawai Road commercial hub on the other. Meanwhile, the attractions of Infinity Beachfront Condominium, a 3.05-acre freehold development in the prime Tanjung Bungah enclave, include direct beach access and a tantalising seaview for all units with wide balcony frontage.

Another development of note is the upcoming Platino, IJM Land Bhd’s stylish sky bungalow project offering penthouses on a 3.48-acre site located strategically between Bayan Lepas Industrial Zone and Georgetown Central Business District. The development’s unique selling points include its central location, close to the Penang Bridge and a TESCO hypermarket, with a shopping centre, food and beverage outlets, schools, a university, a public park, hospitals and a wet market all within a five-kilometre radius.