A proposed affordable housing development by Golden RCH Development Sdn. Bhd. at Bukit Mertajam. Located off Jalan Sejahtera 1, within the vicinity of Taman Sejatera. It is just a mere minutes drive from the intersection of Jalan Kulim and Jalan Rozhan, about 3km away from AEON Mall.

This development will see the construction of a 25-storey tower and 8 levels of car parking podium. It will offer 113 affordable housing units with facilities located at level 8.

The project is still pending approval. More details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Full list of affordable housing in Penang
• Eligibility and the requirement of buying affordable housing

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Affordable housing
Tenure: (to be confirmed)
Land Area: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 113
Indicative Price : RM250,000 onwards (affordable housing price guide)
Developer : Golden RCH Development Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Ferringhi Hills

A landed residential development within the established township of Batu Ferringhi. It is located along Persiaran Sungai Emas 1, only 10 minutes walk to Ferringhi Beach. It will feature a mix of 3-storey terrace (with lower-ground level) and semi-detached, bungalow houses, to be constructed in two phases.

Find out more about Ferringhi Hills

Residential homes in Malaysia may soon find a floor price due to the 47% reduction in completed dwellings and 9% decline in new planned residential supply, said Juwai IQI.

The international real estate technology group said the property sector will reduce supply enough to limit future price declines.

“As agents, we still see sufficient activity and buyer demand to keep us busy. We have more concern about supply. The pipeline of new supply is shrinking,” its head of Bumiputera segment Muhazrol Muhamad said in a statement today.

“Prices last quarter fell by 2.2%, but we believe the shrinking pipeline will put a floor under future price falls.”

He said prices drop when there are more properties than buyers, and developers are shifting the equation in favour of supply by reducing the flow of new properties onto the market, noting that inflation is probably the number one factor behind developers deciding not to launch new projects.

“Supply is still sufficient today, and there is still some overhang, but the pipeline is reducing, and the overhang is shrinking,” he said.

Muhazrol said dwelling completions are dropping quickly – in the first quarter of 2022, completion plummeted 47% versus the fourth quarter of 2021, from 25,074 to 13,284.

“New planned residential supply has also dropped. Over the past three quarters, planned new supply fell 36% from 26,392 units to 16,774 units.

“That’s a significant change from the previous trend in which new planned supply increased steadily, quarter after quarter. Compared to Q4 2021, new planned supply is down 9%,” he added.

Juwai IQI is also sanguine about the impact of rising interest rates.

“We don’t believe interest rate increases will significantly impact Malaysia.

“Firstly, inflation in Malaysia is lower than in many other countries, so our interest rates don’t have to rise as (high) to get inflation under control.

“Secondly, even though the overnight policy rate has increased slightly to 2.25%, that is still well below the historical average,” Muhazrol said, noting that current rates are very close to historic lows, which will help limit any potential impact on the real estate market.

Source: Bernama

Sunway Dora is a mixed development by Sunway Property in the established township of Bayan Baru. The project is located on a 1.6-acre land along Persiaran Mahsuri 1, within the vicinity of Bandar Sunway Tunas. It is only a stone’s throw away from Olive Tree Hotel and SPICE Convention Centre, and a short 5 minutes drive from Bayan Baru roundabout. The land is currently used as a paid parking space with a 2-storey building.

The existing car park building will be demolished to give way to a 20-storey building with 13 storeys of residential, 5 storeys of car park podium and 1 storey of commercial. It will feature 156 residential units and 22 units of shops on the ground floor.

Project Name : Sunway Dora
Location : Bayan Baru
Property Type : Mixed development
Total Units: 156 (residential), 22 (commercial)
Built-up Size: 1,050sf & 1,250sf (condo), 624sf to 1,819sf (shop)
Land Tenure: Freehold
Indicative Price: (to be confirmed)
Developer: Sunway Tunas Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

About Marriott Residences

A mixed development by BSG Property in Georgetown in Penang. It is located between the famous tourist belt of Gurney Drive and Kelawai Road, next to Evergreen Laurel Hotel. The project comprises a 55-storey skyscraper, featuring a mixed of hotel rooms and condominium units

Find out more about Marriott Residences