In a news article about Penang property market in The Malay Mail, Penang Real Estate and Housing Developers Association (REHDA) chairman Datuk Jerry Chan said that Penang’s house prices are certainly not going to come down. This is because of high costs which the developers would have to bear. These high development costs would have … Read moreOnly smaller units can be affordable
It’s never easy to catch someone who’s also sought after by many newspapers, especially when it comes to views about property. Fortunately, after queuing for some time, I managed to get views from my friend, Michael Geh, Senior Partner of Raine & Horne Malaysia. I have asked him a few great to know questions and … Read morePenang Property Market? Expert Series with Michael Geh.
In Penang, the electronics sector is a very important sector for property market. The reason I say so is because more often than not a lot of these manufacturing companies would hire engineers as well as other functions to support operations and these are the potential buyers of properties. This is especially so when these … Read moreElectronics Sector Vibrant – Property Sector Supported
Last year, during the The Star property fair in Penang there were around 39 developers / exhibitors participating. Actually, in terms of numbers this has gone down. I remembered the last one that I went, there were easily 50 over booths including my former company which had a prominent one too. Perhaps this reflects the … Read moreProperty market is slowing. Agree. However, there are today MORE interested people.
If you have recently seen my article for Malaysian property market as a whole, do note that Penang market is different. In fact even within Penang itself, it is divided into two, the island and the mainland. No prizes for guessing, even in Hong Kong, the more expensive would be the island part and the … Read moreBuying Penang Properties? Important Stats to know.
A close friend told me today that our common friend is looking for a bigger place, preferably over 1,000sf for RM600,000 and in the middle of Tanjung Bungah and Bayan Baru. She does not want Jelutong. I told my close friend, ‘Don’t worry, just wait….. and wait….. and wait…..’. Yet, I feel if she has … Read moreSecondary Property Market – Volume Down, Value Remain
Thanks to Michael Geh, the Senior Partner of Raine & Horne, we have this chart comparing the number and value of transactions by category of market in Penang from 1H2010 to 1H2013. We can see the actual sudden increase was from H1 2010 to H1 2011. The primary market transactions grew nearly 700%! This however … Read morePenang property market – Number and Values of Transactions
What has happened in the Penang property market in November 2013? Here’s a digest of the news reports. 🙂 Shared Ownership Scheme – Chief Minister Lim Guan Eng launched a scheme to help low-wage earners buy their own home through a Shared Ownership Scheme. For those who qualify, 30 per cent interest-free funding would come from … Read morePenang Property Digest – Nov 2013