Most would-be buyers at the Star Property Fair at Queensbay Mall in Penang this year seem to be in a cautious mood, setting their sights on homes within the RM500,000 to RM600,000 range.
Manager Eric Foo, 58, who lives in Bukit Jambul, said he was eyeing a unit valued about RM600,000.
“At my age, I can’t take a risk with property worth more than RM700,000,” he said.
Executive K.P. Yeoh, 34, who owns two homes in Penang, was also being cautious.
“I don’t have a specific area of preference.
“It can be anywhere from town to Bayan Lepas as there are a lot of uncertainities in the market,” said Yeoh yesterday.
He said it was still a good time to invest, especially in mid-range property.
“The market is a little soft which should be a good time to grab some cheaper property.”
Justin Poh, a systems analyst with a Japanese company, was on the lookout for new property after selling his condo in Sungai Ara for RM800,000.
“I bought the condo for RM500,000 two years ago but decided to sell it as the area is congested now,” the 33-year-old said.
He added that he was targeting a condo within the RM500,000 range.
C. Hariharan, 43, said he was hunting for a condo worth RM600,000 in Sungai Nibong.
“My in-laws are staying on the island and I want to get a condo here for my family.
“Of course, I’m looking for something that can appreciate in a year or two. I see there isn’t anything less than RM600,000 here.” - By The Star