Advertisement Banner

Penang property market slowed down

Everyone I know has been saying that the property market is slowing down. Well, everyone except one agent who told me that his business is still very good. In actual fact, market is slowing down. This is the effect from the many cooling measures implemented and will be implemented in the near future. Buyers are now also more cautious and thus may want to wait and see before they commit to a huge mortgage. What about the developer’s side? For those whose projects are yet to be launched, we can see they are now being delayed. I think this is a good move, rather than having bad sales if the location is not the best or the pricing seems to be too high compared to the perceived value.
How slow is slow? Let’s refer below:
Penang’s total transaction has gone down close to 30% year on year. KL’s transactions has done down close to 50%. Selangor’s total transaction went down slightly over 21%. The only one still showing huge growth is Iskandar. However, I think this may also slow down in the near future because of the requirement that foreigners can only buy properties worth RM1 million above in Malaysia. Majority of the properties launched which attracted a lot of Singaporean buyers were below RM1,000,000. Therefore, in order for these people to accept the new requirement, it may take some time. To put into perspective, RM1,000,000 is not low but definitely is not considered very high because just right across the causeway, HDB flats of 700sf in good districts are already more expensive than RM1,000,000.

**In Article Advertisements Banner

Subscribe to Blog via Email

Few seconds to subscribe for FREE and get property investment tips, latest financial and property news and more.

Join 1,949 other subscribers.
Motion arrow towards right
Motion arrow towards right
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.


Advertisement Banner

Facebook Comment

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like

%d bloggers like this: