News by EdgeProp

In the background of eye-bulging record prices, the average price of condominiums in the area was RM432 psf in 1Q2015, up 18.7% y-o-y. 

Penang is popular among expats or foreigners looking for a holiday home or retirement home under the Malaysia My Second Home scheme. Batu Ferringhi, Tanjung Bungah, Tanjung Tokong and Gurney Drive are some upmarket areas with luxury condos targeted towards foreigners.

Large projects of various kinds mark Penang, from costly residential property development to land reclamation and transport infrastructure.

Hong Leong IB Research said the Johor region remain oversupplied in near term with incoming supply and planned supply amounting to 47% of existing stock.

Numerous projects in Kepong will likely see a boost in rental demand with the MRT Sungai Buloh-Serdang-Putrajaya line due in 2022. 

Despite the price surge, Kepong is still a very affordable neighbourhood. In the 12 months to 1Q2015, some 47.8% of secondary transactions were for properties priced between RM201–RM400 psf. 

With an average unit price of RM460,000, Fortune Avenue has fewer facilities than First Residence, but is more strategically located, close to AEON Big Kepong and Kepong Metropolitan Lake Garden. The Fortune Perdana Lakeside Kepong development will be located in the adjacent plot. 

The Sungai Buloh-Kajang line should significantly shorten travelling times between Kepong, Kuala Lumpur city centre and Petaling Jaya.

The performance of the different segments — residential, commercial, retail, hospitality and industrial — across all the markets was mixed. The office segment in Hong Kong and China, for example, was vibrant due to foreign investment while in the UK, the commercial segment was strong.

As prices in urban areas of Greater KL hit new heights, mid-market products appear relatively attractive. Savvy buyers have found that...