News & Articles Affordable housing in Penang to be key sales driver
Affordable housing in Penang to be key sales driver
6 Sep 2016
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.
“Also, property launches have been experiencing slower take-up like that seen prior to 2011, when projects took 2-3 years to be fully sold, a sharp contrast to the sold-out-upon-launch affairs that we have been experiencing over the past few years,” Alliance said in a report.
Nevertheless, it said the removal of speculative fervour in the property market would also position developers for a healthier market.
“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.
“Also, property launches have been experiencing slower take-up like that seen prior to 2011, when projects took 2-3 years to be fully sold, a sharp contrast to the sold-out-upon-launch affairs that we have been experiencing over the past few years,” Alliance said in a report.
Nevertheless, it said the removal of speculative fervour in the property market would also position developers for a healthier market.
Source: Thestar.com.my