Foreigners ‘invading’ pre-war properties in Penang

  • Nation
  • Sunday, 12 Jun 2016

PIC FOR REPORTER : Prewar houses restored along Jalan Pintal Tali in Penang. Star Pic by: ZAINUDIN AHAD / The Star / 11 June 2016

GEORGE TOWN: The pre-war pro­perty market in the heritage enclave could be overheating with foreign corporations “snapping them up by the rows” and causing the rentals to sky-rocket.

After evicting the old tenants and sprucing up the shophouses, the foreigners are leasing them out at more than 500% above the previous rent.

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Property , singapore , penang , property


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