Penang Land Prices Not Likely To Dip

The Penang island's land prices are unlikely to drop, even if another economic slowdown happens.

For the past 10 years, Penang’s land value has been increasing.

It was a misconception to say that there was not much land left in the state.

With NCER, Penang can be a microelectronic hub of excellence, logistics hub in the northern region and has potential for an oil industry spin-off.

Penang’s strengths were its friendly locals, strong engineering workforce and vibrant nightlife.

However, the state’s weaknesses were its over dependence on the electronics and manufacturing sector, limited direct flight destinations, lack of top jobs for other sectors and slow pace in property development.

But the state’s declining population growth due to intra-state migration would hamper its development rate.