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Is Penang's Property Market Finally Cooling?
Last update: 11/10/2018
Low-cost and low medium-cost as well as affordably-priced housing units are very much sought after. More public housing programmes are being planned to cater for this demand including in Penang. (File photo)
--fotoBERNAMA (2018)ALL RIGHTS RESERVEDBy Kenny Teng Khoon Hock
GEORGE TOWN (Bernama) -- The property market in Penang is known to be among the most expensive in the country, with prices having soared over the years despite various cooling measures implemented by the authorities.
Recently, there have been signs of property prices stabilising and the state has even reported property overhang.
Since 2014, the Penang government has stepped up the development of affordable housing projects and has also imposed various measures in its attempts to keep property prices under control.
Among the locations in Penang considered as prime are Gurney Drive, Tanjong Tokong and Batu Ferringhi, where properties are beyond the reach of the local people as most of them are priced at above RM800 per square foot.....