Property prices stay strong

Value of houses yet to go down despite soft market in Penang

BUTTERWORTH: Prices of houses in Penang have yet to go down despite the soft property market in the state.

Henry Butcher Seberang Prai senior manager Fook Tone Huat said in Seberang Perai, for example, prices were firm across the board.

“Prices of landed houses and stratified houses in the secondary market remain stable.

“Single-storey terraced houses in Taman Chai Leng recorded 6% growth from the average price of RM330,000 in 2017 to RM350,000 last year.

“Similar houses in Bandar Tasek Mutiara, Simpang Ampat, were transacted at an average of RM257,000 in 2018, indicating a gain of nearly 5% compared to their average price in 2017,” he said.

Fook said the residential hotspots are Prai, Jalan Song Ban Kheng, Alma, Jalan Bahru, Simpang Ampat and Batu Kawan while Sungai Dua was an upcoming residential area.

He was met at the four-day StarProperty.my Fair 2019 held at the Sunway Carnival Mall here.

The developers participating in the fair are Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Hunza Properties Bhd, Tambun Indah Land Bhd, SV Group and JKP Sdn Bhd.

East West Horizon Plantation Bhd, an oil palm plantation investment company, and CTOS Data Systems Sdn Bhd, Malaysia’s largest private credit reporting agency, are also among the exhibitors.

Zeon Properties chief executive officer Leon Lee meanwhile said sales for Gurney Drive’s City of Dreams (COD) over the past three days was about RM15mil.

“We are happy with the achievement as our target is to hit about RM20mil,” he said.

Zeon Properties is the marketing agent for COD.

S. Chandran, 56, a retiree, said he was looking for a second home in Seberang Prai and preferred a landed property, similar to the double-storey terrace house he owned in Juru.

“A strategic location with access to amenities and interchanges is the primary consideration.

“Because of Juru’s strategic location, the price of a double-storey terraced house there is now about RM400,000 compared to about RM200,000 about 10 to 11 years ago,” he said.

Another buyer, Teoh Wei Chong, 28, said he was surveying the prices of houses in Seberang Prai.

“I am interested in a single or a double-storey terraced house priced at around RM350,000.

Home hunters People visiting The Curve in Mutiara Damansara for the StarProperty.my Awards Showcase Fair 2019. The exhibition opens from 10am to 10pm and features winning properties and activities including credit score check, lucky draw and other events.