Taman Skyridge Apartment is a new freehold apartment located along Lebuh Halia at Tanjung Tokong, Penang to be developed by OHM Group. Taman Skyridge Apartment is an affordable homes scheme project (Rumah Mampu Milik - RMM) will consists of apartment units priced at RM200,000, RM300,000, RM400,000 and low-medium cost apartment units. The built-up area range between 750 sq.ft and 850 sq.ft. comes with three bedrooms type.
Some say humans are the most adaptive species on earth and during economic downturns, this trait helps us figure out ways for our businesses to manoeuvre the challenging market environment.
According to property consultancy firm Knight Frank Malaysia’s Real Estate Insights research report, the challenging property market has led developers to adopt “push marketing” in order to boost sales of their projects.
The introduction of an initiative that enables property developers to give out loans to buyers at an interest rate of between 12% and 18% has received lukewarm response from the property sector.
Analysts, in general, do not view this as a major catalyst to invigorate the slowdown in the sector.
The AHS-Teluk Kumbar (Duo Residensi) project coming up in Jalan Bayan Lepas.
The Bandar Cassia affordable housing project in Batu Kawan, Nibong Tebal, is already 77% completed to date.
Penang Town, Housing and Country Planning Committee chairman Jagdeep Singh Deo said Phase One of the project featuring 520 low medium-cost and medium-cost units was ahead of schedule and the units would be ready for occupation by next June.
AllianceDBS Research said the Penang property market has been facing challenging conditions since 2014 as property prices continue to rise, albeit at a slower pace.
“We notice that transaction numbers have continued to extend its decline in 2016 and there is no sign of a recovery in the near term as prices remain stubbornly high.