GEORGE TOWN: Penang has now overtaken the Klang Valley as the most attractive place for property investment.
In its Malaysia Commercial Real Estate Investment Sentiment Survey 2016, global property consultancy Knight Frank Ma-laysia said the state had dis-lodged Kuala Lumpur’s Golden Triangle as the top investment choice.
Penang garnered 67% of the overall responses while the Golden Triangle slipped to fourth position with 49%, finishing behind KL Fringe/ Klang Valley (56%) and Johor/Iskandar (55%).
The survey took litmus test for insights and preferences of key players namely fund managers, developers and lenders in the commercial sector for the Year 2016.
It targeted 700 respondents in senior management levels across the property industry.
Half of them (55%) were deve-lopers while the rest were commercial lenders (24%) and fund or real estate investment trust managers (21%).
Last week, George Town was picked as the sixth ‘Best place to retire abroad in 2016’ by CNN Money.
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