Share
- Here are the average prices for non-landed residential property in Mainland Penang on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of apartments and condominiums was RM192 psf in 1Q2015, +23.4% y-o-y.
- The strata market here remains very affordable due to low land prices, as well as a preference for landed homes. In the 12 months to 1Q2015, 65.7% of transactions fell under the RM200 psf level, and 32.9% in the RM201–RM 400 psf range.
- The most costly condominiums were Ocean View Residences (RM410 psf) and Wellesley Residences (RM360 psf), both part of the Harbour Place mixed-use development by PJ Development Holdings Bhd.
- Palma Laguna (RM316 psf) and Pinang Laguna (RM306 psf) are similar, neighbouring projects, Palma Laguna being slightly newer. They were developed by Island LandCap Properties Group and are located in Seberang Jaya, close to the Penang Bridge.
- These condominiums were built around the Laguna Water Park, to which residents enjoy access and is under construction. The average transacted unit price of both projects is under RM310,000, and typical units are between 936 and 1,098 sq ft, making them affordable options for families.
- The least expensive projects are the older flats, led by the Taman Permata Flats (RM60 psf), Taman Bukit Minyak Indah Flats (RM63 psf) and the Taman Machang Bubok Flats (RM65 psf).
You want value? Tap here to investigate further.
The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data is becomes available.
SHARE
TOP PICKS BY EDGEPROP
RENT
FEATURED
The Stride Strata Office @ BBCC
Pudu, Kuala Lumpur
RM 48,950
- beds |
- bath |
11383 sqft
SALE
FEATURED
Seksyen 5, Petaling Jaya
Petaling Jaya, Selangor
RM 3,300,000
6 beds |
6 bath |
5000 sqft
SALE
FEATURED
Graham Garden @ Eco Grandeur
Bandar Puncak Alam, Selangor
RM 575,000
4 beds |
3 bath |
1635 sqft
