Condos on Penang island outperform landed homes

Non-landed residential projects on Penang island have performed better than landed homes on the island in recent years.

There were more non-landed residential projects that recorded a cumulative annual growth rate (CAGR) of above 20% from 1Q2012 to 1Q2016 compared with landed housing projects.

Blooming interest in homes

Thousands thronged EcoWorld Gallery @ Eco Meadows in Simpang Ampat, Nibong Tebal, for its Eco Bloom official global launch in Penang.

Among them was businessman M. Venuganan, 54, who brought along his family to help select a unit for their new home.

Taman Skyridge Apartment

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.

‘Awesome’ offers by property developers

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.

Mixed views on getting property developer loans

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.