The Spring is a condominium project owned by IJM which is located at Georgetown. I've waited for it to launched since end of last year. After waited for so long, finally it is announced to be launced on 3rd May. So, we got our deposit ready which is RM 20k.

When everything is ready, we received a bad news from IJM just one day before the soft launch. Due to overwhelming response from bulk buyers, they are gonna increased the price by RM 10k during soft launch.
Sigh... I become so down when I heard this news.

Due to the price increase, we decided not to go for it as we feel that it is not worth it as this is a leasehold project.

On the day of the soft launch which start at 10am, my bf's housemates went to E&O hotel to queue and waited for their turn to choose the unit they are interested in. Guess what? They arrived there at 7am and there are already around 100ppl queing already. This is crazy... :-S
According to his friend who was queing at number 2, he arrived there at 4.30am. Unbelieveable! Finally, they also can't get the unit they wanted. It's just too bad.

And today, the bulk buyers are started to sell their units by RM 50k extra. And they are earning RM50k in less than 2 weeks. What kind of world is this? ! It's crazy!

Is this phenomenan normal for penang properties?


  1. Easy King // May 6, 2008, 4:03:00 PM  

    this is the right time for "rich" people to become richer; poor people become poorer. it's a fair world. not a "fairy" wonderland. u'd be glad if u r in the "rich" category. too bad if u r in the opposite side... :(

    I'd advice u to target on mainland properties if u really interested to invest. if insist to buy Penang island prop, wait for next economy crisislah... but god wouldn't let us suffer even worst..

  2. Allie // May 7, 2008, 12:34:00 PM  

    Ya. agree. Rich ppl become richer and poor people become poorer.

    Consider about mainland properties before, but thinking bout the traffic ... sigh...