Prices of residential properties in Penang will likely continue to increase this year due to higher land and building compliance costs, according to The Real Estate and Housing Developers’ Association (REHDA Penang).
“The market will stay bullish amid rising demand for houses due to a growing population and rising numbers of jobs,” said Datuk Jerry Chan, Chairman of REHDA Penang, during the opening of Malaysia Property Exposition (MAPEX 2013) held at Penang.
The three–day event was graced by major developers such as UEM Land, Sunway Grand, SP Setia, Sime Darby Properties, Mah Sing Properties and IJM Land.
Overall, MAPEX 2013 witnessed 23 property developers and 40 booths, as well as throngs of crowds. Interestingly, the real estate players were also bullish on this year’s prospects.
Source – PG
Food for thought: Since 3 years ago, I have been advising many to invest in Malaysia, especially Penang because of the growing economy, great direct foreign investments, scarcity of land and the ever rising property prices. Today, after the recent election, we see property prices going up even higher. Do we want to wait till it become a reality before we believe? The choice is yours. Till then, stay tune for more upcoming updates. Awesome!