Driving up the winding road to the tourist belt of Batu Ferringhi in Penang, it’s hard to miss the grand homes being built atop a nearby hill.

Penang, with its sun, sea and sand, is not only a magnet for tourists and holidaymakers, but also a favourite with developers as demand increases for property there.For Bolton Bhd, Penang is going to be a significant part of its business expansion.“Penang holds a lot of potential for the company’s future so we restructured our group to have a northern region entity.

The buzz at the moment in Penang is about Mah Sing Group Bhd’s plans to develop a modern township in Batu Maung that will change the face of the southern area of the island.  Named Southbay, it is strategically located just two minutes away from the Second Penang Bridge which is due for completion in 2013.

While Bolton strengthens its position up north, it has three new projects in Kuala Lumpur. A signature wellness centre and parking bays for superbikes are among the unique features to be offered in these projects. Details about the wellness centre concept will be revealed once the plans are firmed up.

Sixteen years ago, when Tambun Indah managing director Teh Kiak Seng was toying with the idea of building a gated and guarded residential development in Bukit Tambun, Seberang Perai on the Penang mainland, his friends laughed at him.

Surging house prices in the luxury sector in Hong Kong have encouraged owners to put top-priced properties up for sale — with a Repulse Bay property likely to carry a price tag of about HK$1 billion (RM412 million), according to agents.The owner of the 5-storey detached house and an adjacent 5-storey residential block at 20 and 22 South Bay Road in Repulse Bay has appointed property consultant

Both owner-occupiers and investors are returning to the Hong Kong property market in growing numbers, with expectations that prices are set to rise substantially in the near future.A total of 637 homes were snapped up from July 5 to 11 in the 50 major housing estates monitored by Ricacorp Properties — up 5% from 607 transactions recorded in the previous week.

Despite being the second-smallest state in Malaysia after Perlis, Penang boasts the highest population density in the country.

What are the rights and duties of the buyer and seller? Should a lawyer be engaged?

Robert Tan, author of Buying Property From Developers: What You Need to Know and Do, believes that it is necessary to have legal representation from start to finish. “While the property deal may be made to look easy, your rights and interests are to be safeguarded throughout the deal,” Tan says. “Anything can happen during the deal.