Fresh graduates feel compelled to buy property quickly because they fear prices will soon outpace the growth of their income, said Khazanah Research Institute director of research Dr Suraya Ismail. “Young people used to rent for 10 years before deciding to buy a home. However, graduates today rush to buy ... Read More

Eligible Penangites should start applying for affordable housing because developers may not carry out more of such projects. State Housing Committee chairman Jagdeep Singh Deo said the profit margin of affordable housing projects was only about 20% and it was not considered lucrative for developers. “We are grateful to Penang ... Read More

Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state. “There has been a slowdown in the last year. There are a few categories of investors in Penang; those who ... Read More

Buying your first home is never an easy decision. Not only it is most people’s biggest financial commitment, it can also be time-consuming and frustrating. One of the most common question asked by first time home buyer is when will be the best time to buy a property in Penang ... Read More

The Penang government and Bank Negara will hold a workshop early next month to discuss the state housing policy following a fruitful meeting between the two parties. State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said that during the meeting recently, Bank Negara had shared the criteria ... Read More

After a delay of almost four years, land reclamation works on the RM10 billion Penang WorldCity mixed development in Bayan Mutiara, Penang may finally be moving forward. The joint venture (JV) between Ivory Properties Group Bhd and Tropicana Corp Bhd plans to call for tenders for the reclamation works at ... Read More

The Penang Chinese Chamber of Commerce (PCCC) says it is willing to build the proposed new category of affordable housing units if the state government gives sufficient incentives. Datuk Finn Choong Khuat Seng, convenor of the chamber's Property Development Construction and Management Committee (PDCMC), said the committee lauds the recent ... Read More

The Real Estate and Housing Developers’ Association (Rehda) has urged Penang state government to do away with requirement for developers to build low-cost housing. The chairman of its Penang branch Datuk Jerry Chan argued that the state should instead focus on “rent-to-own” scheme to help lower-income home owners. “There are ... Read More

If you ever wonder how well are the affordable housings doing in Penang, take a few minutes going through the chart below. These are the top 20 most active projects in Penang, based on the total number of project page views we have received in October 2015. With the introduction of new measures ... Read More

PENANG RESIDENTIAL PROPERTY MARKET In Penang, the residential property market contracted by almost half since the hitting its peak in 2011. The market recorded a total of 9,667 transactions in 4Q2011, its highest in four years, before seeing a drastic drop of about 48.47% in 1Q2012, to just 4,981 transactions ... Read More