Lebuh Chulia, also known as Chulia Street is a major road in Georgetown, Penang. Stretching from Beach Street to Jalan Penang, part of it is in the UNESCO World Heritage Site core zone while the remaining part is in the buffer zone.
The street is lined with double-storey and 3-storey pre-war shophouses which have been repurposed into commercial shop offices while other 2-storey and 4-storey shop offices were also built later in the mid to late 20th century. There are also a few single-storey shop-lots which house coffee shops.
Lebuh Chulia is home to a number of restaurants and eateries, confectionary shops as well as businesses which have been around for quite some time. With the rising popularity of Georgetown as a tourist destination, many of the pre-war shops have also been turned into hotels, lodgings, bars and cafes to cater to modern tastes.
Prices of pre-war buildings have shot up in the recent years since Georgetown obtained its status as a “World Heritage Site”. Those along Lebuh Chulia are also no exception, with rental of one floor in a pre-war building being at least RM2,600 at a size of around 900 sf. A common double-storey pre-war building can also be found on the market for a minimum of RM1 million while those larger in size or refurbished can go even higher.
Properties along Lebuh Chulia appeal to investors looking for high rental yields or those who wish to own a property which increases in value. Businesses such as hotels, restaurants and cafes also see Lebuh Chulia as an ideal location for their ventures considering the steady stream of locals and tourist who frequent the area.
Lebuh Chulia is just a short 10 minutes’ drive to the first Penang bridge while the Penang International Airport in Bayan Lepas is around 30 minutes away from there.
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Check out the value of surrounding recently completed properties to make the best buying decision.
| Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
|---|---|---|---|---|---|
| Lebuh Chulia | 0 |
RM395,000
-
RM2,800,000
RM 395 psf - RM 1,866 psf |
RM2,000 - RM2,000 | NIL | 5.63 % |
| Prangin Mall | 2001 | From RM220,000 | From RM1,300 | NIL | NIL |
| Taman Harbour View | 1995 |
RM320,000
-
RM320,000
RM 457 psf - RM 457 psf |
RM900 - RM900 | NIL | 3.38 % |
| Menara Penang Garden | 1983 | From RM400,000 | NIL | NIL | NIL |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
| Non-Landed | Landed | Commercial | |
|---|---|---|---|
| 0 - 500 SQ. FT | - | - | - |
| 500 - 1,000 SQ. FT | - | - | - |
| 1,000 - 1,500 SQ. FT | - | - | - |
| 1,500 - 2,500 SQ. FT | - | - | - |
| 2,500 - 4,000 SQ. FT | - | - | - |
| 4,000 SQ. FT and above | - | - | - |
Note:
| Down Payment (10%) | RM 100,000 |
| Loan Amount ( 90 %) | RM 900,000 |
| Tenure Years | 35 Years |
| Interest Rate | 4.85% |
| Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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