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RM53mil state aid to build affordable homes for bumis

The state government, through its Penang Bumiputera Housing Trust Accounts, will allocate RM52.9mil to build 320 low medium-cost (LMC) homes for bumiputra buyers. Chief Minister Lim Guan Eng said the LMC homes were part of the 2,093 units of a public and affordable housing scheme called ‘The Rise’ in Jalan ... Read More

“For landed developments, the option is to either pay increasingly high prices or move further away (from prime locations),” said Real Estate and Housing Developers Association Penang (Rehda) chairman Datuk Jerry Chan.

Penang property seen slowing down due to high prices

Escalating prices of landed residential properties in Penang could see transactions slowing down in 2015. According to Real Estate and Housing Developers Association Penang (Rehda) chairman Datuk Jerry Chan, prices of landed residential properties have been rising over the past few years. “We don’t see highly motivated sellers yet. Land ... Read More

Penang to have 2,000 more affordable homes by 2019

George Town will have an additional 2,093 units of apartments priced up to RM400,000 in four years now that work to build "The Rise", Penang’s affordable housing scheme on Jalan SP Chelliah, has started. Chief Minister Lim Guan Eng said the project, with a gross development value of RM600 million, ... Read More

Less speculation leads to drop in house prices

House prices have dropped after measures were put in place to check rising property prices due to speculation, says Datuk Chua Tee Yong. The Deputy Finance Minister said data from the National Property Information Centre (NAPIC) showed that there was a drop in house prices with the market slowing down ... Read More

Property Sector Expected To Be Flat This Year

The property sector is expected to be flat this year, bogged down by buyers' 'wait-and-see' attitude towards the implementation of the Goods and Services Tax against a backdrop of a weakening ringgit. President of Malaysia Institute of Estate Agents, Siva Shanker, said this showed that the cooling measures imposed by ... Read More

Condo project boasts of an award-winning design with fabulous facilities

IF you are looking for a comfortable luxury residential condominium in the heart of George Town, Mah Sing’s the Icon Residence fits the bill. Situated just 1km away from Komtar, the project features 294 units with breathtaking views of the heritage city and the sea. The Icon Residence also boasts ... Read More

UPCOMING: Jalan Kebun Sireh / Airmas Group

A proposed gated and guarded development by Airmas Group in Bukit Tengah, Penang. It is located next to Jalan Kebun Sireh, just a stone's throw away from Taman Tanah Aman. The proposed development consists of the following: 19-storey condominium (117 units) 2-storey terrace houses (19 units) 2-storey bungalows (2 units) ... Read More

Affordable Housing: On-site Registration (6-8 March)

If you are interested and qualified to purchase an affordable housing at Tanjung Tokong and Bayan Lepas area, Penang State Government will be conducting on-site registration exercise for the following projects in the coming weekend: Tri-Pinnacle Project Location : Tanjung Tokong, DTL On-site Registration Date : 7 & 8 March ... Read More

E&O to award STP2 reclamation job by July

Eastern & Oriental Bhd (E&O), a lifestyle property developer, will award a tender for the RM25 billion Phase Two of the Seri Tanjung Pinang (STP2) reclamation project by July. Seven contractors have been shortlisted for the proposed reclamation project. E&O deputy managing director Eric Chan Kok Leong said the group ... Read More

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More high-end properties up for auction

Two years ago, a one-million-ringgit homes hitting the auction market was almost unheard-of, but today auctioneers say it is fast becoming the belle of the ball. So why are so many luxury properties going under the hammer? Many local purchasers who took advantage of the developer interest bearing scheme (DIBS) ... Read More