Property Hunter Magazine August Issue 2014 | Page 43
RANK
BLOOMBERG WORLD BEST RATING COUNTRIES
CITY
HEALTH CARE INDEX
1
Bangkok, THAILAND
90.15
RATING
CATEGORY
2
Munich, GERMANY
90.08
#3
BEST EMERGING COUNTRIES 2014
3
Bergen, NORWAY
89.40
#9
GREATEST GROWTH IN WORLD OIL PRODUCTION
4
Penang, MALAYSIA
86.11
#9
MOST GOVERNMENT HEALTH-CARE SPENDING IN ASIA PACIFIC
5
Manchester, UNITED KINGDOM
86.11
# 10
TOP TOURIST DESTINATION
6
Copenhagen,DENMARK
85.74
# 11
GREATEST INCREASE IN VEHICLE SALES
7
Trondheim, NORWAY
84.81
# 11
LONGEST LIFE SPAN IN ASIA PACIFIC
8
Paris,FRANCE
83.33
# 12
BEST GDP GROWTH
9
Denver,CO, UNITED STATES
82.59
# 18
MOST EFFICIENT HEALTH CARE
10
Canberra, AUSTRALIA
81.85
Health-care which may be looked at as
health-tourism brings along even better
outlook for Penang state, something to be
very proud of. Out of Malaysia scoring at
the 18th position as health care efficiency,
Penang compared to other cities in the
world shows off as being more efficient
of most of them showing a clear direction
of future growth when combined with the
growing international tourism. Till here
we have defined the possible drivers for
further economic growth of Penang and
you all know by now how important is to
always look into why the Property Market
in certain geographical area is growing and
which are the further possible expansions.
Demand and Offer: actual drivers of Property Values and their Growth
This is as old as the basic economic principles, its logic and common sense wisely mixed and for sure, by looking at the numbers below, we can foresee not
such troubled waters for the Penang Market. No bubble or oversupply at the moment.
This table is an extract from the Property Market Report 2012 issued by Napic and shows in progression existing stock, short term (2 years) incoming supply
and medium term (5 to 6 years) future supply of residential properties.
SUPPLY OF RESIDENTIAL UNITS BY TYPE IN PENANG
ITEM
A
PENANG ISLAND + MAINLAND
Existing stock
TOTAL EXISTING
B
Completions
C
Incoming supply
Single
Storey
Terrace
2-3
Storey
Terrace
Single
Storey
Semi-D
2-3
Storey
Semi-D
D
Starts
E
Planned supply
F
New planned supply
TOTAL BY 2020
Low Cost
House
Low Cost
Flat
Flat
Service
App
Condo
Soho
-
42,245
57,675
8,886
15,718
6,819
2,738
7,923
15,170
55,513
111,195
513
39,979
57,675
8,886
15,718
6,819
2,738
7,923
15,170
55,513
111,195
513
39,979
-
350
2,388
140
718
212
152
402
418
339
2,001
-
2,251
-
4,446
10,119
1,126
3,865
2,324
677
1,271
1,171
4,186
6,899
869
7,742
47,041
70,182
10,152
20,331
9,355
3,567
9,596
16,759
60,038
120,095
1,382
49,972
-
2,324
96
1,006
298
-
438
-
694
750
-
3,075
-
2,812
12,124
1,215
3,489
2,309
630
632
764
4,171
8,285
412
5,716
-
189
3,185
402
1,194
956
301
346
-
1,146
2,078
-
3,171
-
50,775
87,815
11,865
26,020
12,918
4,498
11,012
17,523
66,049
131,208
1,794
61,934
-
204,903
GRAND TOTAL
214,780
63,728
483,411
TOTAL PENANG POPULATION AS AT 2012
1,493,826
497,942
CURRENT DEMAND OF HOMES
133,568
ESTIMATE NEED OF HOUSES
TOTAL PENANG POPULATION AS AT 2015 (Est + 1.2% yr)
DEMAND OF HOMES IN 3 YARS TIME
ESTIMATE NEED OF HOUSES BY 2015
TOTAL PENANG POPULATION AS AT 2020
1,562,062
520,687
102,217
1,682,784
DEMAND OF HOMES BY 2020
560,928
ESTIMATE NEED OF HOUSES BY 2020
D+E+F
Cluster
42,245
TOTAL PER TYPE
B+C
Town
House
733
TOTAL BY 2015
A
Detach
77,517
Once we have estimated how many
dwellings will be available by 2020,
we need to look at the population
growth and see whether there will be
a positive or negative resulting out of
it. The numbers, even though based
on estimated growth of population
(between 1.2 and 1.5% per year),
do not take into any consideration
the potentia