theSun Property August 2017

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OVERthe last fewweeks,
theSunproperty ran
reports on the residential
sub-sale market in various
states. Having covered Sabah,
Sarawak and Selangor, this week we
examine the scene in Penang.
AT A GLANCE
In general, reports have it that there
is an excess in supply of residential
property (high-end in particular) in
Penang.
Add this to the new launches of
residential properties plus the
already available sub-sale units on
the market, the scene looks positive
for housebuyers up north in the
Pearl of the Orient.
According to Jabatan Penilaian
dan PerkhidmatanHata (JPPH)’s
report, the residential existing stock
in Penang at end of 2016 stood at:
Q1 2016 - 398,661 units
Q2 2016 - 402,494 units
Q3 2016 - 404,050 units
Q4 2016 - 407,107 units
Depending on how one views
things, an overabundance of
anything will affect the status quo,
hence, the market and prices.
Whether sub-sale/secondary or
new units, the oversupply will
possibly lower property prices. If
not, buyers should be able to
negotiate. Appended are
informative graphs and charts
depicting the Penang sub-sale
residential propertymarket,
courtesy of iPropertyiq.comwith
data retrieved from JPPH.
Follow our section next week
highlighting the residential sub-sale
market in Johor.
> Examining Penang – graphs, charts and information
A neglectedmarket
BUILDING TYPE MARKET SHARE
30 %
Bought a Terrace
15% bought in:
1. Bukit Mertajam
2. Simpang Ampat
3. Butterworth 30%
Bought a flat
15% bought in:
1. Ayer Itam
2. Jelutong
3. Sungai Ara
MOST POPULAR RESIDENTIAL PROPERTY SPECS SOLD
50%
25%
2.1K Sold
7% 8% 9% 6% 6%
2%
5%
11%
Condo
1,000-1,250sf
RM550k
Terrace
750-1,000sf
RM250k
Terrace
500-750sf
RM150k
Terrace
1,500-2,000sf
RM450k
Flat
500-750sf
RM133k
Sold Interest (leads) in
TOP TRANSACTED AREAS FOR CONDOMINIUMS
50%
20%
15%
10%
5%
0%
Transactions
17.1%
13.5%
8.5%
7.6% 7.4% 7.3%
6.4% 6.3% 5.7% 5.5%
4%
2.9% 2.8% 2.7% 2.1%
SUNGAI ARAGELUGOR
TANJUNG TOKONG
BAYAN LEPASBUTTERWORTH
JELUTONG
BATU FERRINGHIBUKIT MERTAJAM
BAYAN BARU
GURNEYAYER ITAM
TANJUNG BUNGAH
GEORGE TOWNPULAU TIKUSBUKIT JAMBUL
1. Sungai Ara
2. Gelugor
3. Tanjung Tokong
4. Bayan Lepas
5. Butterworth
TOP TRANSACTED AREAS FOR CONDOMINIUMS
40%
Below RM250k
30%
RM250k-500k
20%
RM500k-850k
MOST TRANSACTED RESIDENTIAL AREAS IN PENANG
Bought in:
1. Bukit Mertajam
2. Ayer Itam
3. Butterworth
4. Jelutong
5. Sungai Ara
6. Simpang Ampat 50%
Transaction
Volume
RM72k
(-16%y-o-y)
MOST TRANSACTED VS SEARCHED
AREAS
14%
10% 9%
7%
10%
7%
5%
S. Ampat Sg. Ara Jelutong Butterworth Ayer Itam B. Mertajam
Sold (%) Search Interest in iProperty.com 50%Market share
Source:JPPHand iProperty.com
Source:JPPH
Source:JPPH
Source:JPPHand iProperty.com
Source:JPPH
A
B
C
D
E
Residential sub-sale market report
20
theSun ON FRIDAY | MARCH11,2016 20 theSun ON FRIDAY | AUGUST11,2017