RM20mil Worth Of Homes Left Unoccupied in Penang

Pavither June 30, 2017

 

Despite its dilapidated state, a house in Jalan Masjid Negeri, Penang still managed to attract the interest of real estate agents, reported ANN.

An employee of a development firm located next to the abandoned house, who wanted to be identified only as Loo, said the property had been left idle for over seven years.

“Many real estate agents had shown interest in helping to sell or rent out the place but nobody knows the owner,” she said, adding that even her boss was interested in the house.

“This is considered a prime area. Our rental here is RM5,500 but I believe this house would definitely fetch more as it’s a corner unit.”

Notably, about RM20 million worth of homes within the upper class neighbourhoods of Penang island have been left vacant for many years.

While it is hard to find buyers, the property at Jalan Masjid Negeri and Lebuh Bukit Jambul could easily be sold for RM3 million to RM4 million, said estate broker Lee Hock Hin.

“It’s more for the land only,” said Lee, who has more than 30 years of experience in the business.

According to a spokesman of the Penang Island City Council, the owner of the Jalan Masjid Negeri property has not defaulted in paying the yearly assessment.

“If the house is occupied by a tenant, we will collect the assessment from the tenant,” he said.

“If it’s not paid within 18 months, the house will be seized and auctioned off.”

The assessment range from RM600 to RM1,000 depending on the land’s location, size and built-up area.

He noted that action would be taken against the owners in the event the dilapidated property posed a danger to the public.

“We will seal the premises and bill the owners,” he said. “Usually, action is taken if there’s a complaint from the public.”

“Once a complaint is filed, we will take action within three days,” added the spokesman.

 

Check out some of Penang properties here.  

 

Image sourced from Malaysian Chronical

 

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