The Penang government has set up a new Urban Regeneration Committee to look into the redevelopment and upgrading of old housing schemes, says state housing exco Jagdeep Singh Deo (DAP-Datuk Keramat). Jagdeep told the state legislative assembly sitting yesterday that the new committee, chaired by him, would look into planning ... Read More

APDL (Advertising Permit & Developer's License) approval has been a hot topic in Penang's housing industry over the last couple of months.  The delay in approval not only is a challenge for developers, it is also a depressing experience for the first time home buyers. So, to shed some light on the issue, here is a list ... Read More

Property developer Mah Sing Group Bhd is set to launch over RM1.2bil worth of projects in Penang next year. Mah Sing (North) senior general manager Daniel Law Wei Keong said the upcoming launches include the RM735mil Ferringhi Residence 2, the RM350mil Icon Residence at Lebuh Pykett, and an unnamed RM150mil ... Read More

More than 1,500 acres (607ha) of sea land off Permatang Damar Laut near Bayan Lepas have been identified for the proposed reclamation that forms part of the land-swap deal with SRS Consortium, the project delivery partner (PDP), for the RM27 billion Penang Transport Master Plan (TMP). This confirmed rumours circulating ... Read More

The extraordinary boom in the property market in Malaysia is ending but high house prices and the middle-class obsession with home ownership are likely to persist for a long time to come. Data from the National Property Information Centre’s (Napic) First Half Property Market Report shows that during the first ... Read More

The Association of Banks in Malaysia (ABM) says first time home buyers who are eligible will continue to be able to obtain financing. It explained that it was crucial for these buyers to also recognise the need to make sound decisions of their own affordability based on their financial circumstances ... Read More

Fresh graduates feel compelled to buy property quickly because they fear prices will soon outpace the growth of their income, said Khazanah Research Institute director of research Dr Suraya Ismail. “Young people used to rent for 10 years before deciding to buy a home. However, graduates today rush to buy ... Read More

A proposed mixed residential development by OHM Group at Hye Keat Estate in Air Itam. It is strategically located along Lehuh Khoo Hye Keat, just a short drives away from Air Itam roundabout. This strata development comprises a 31-storey condominium with 88 units of luxury residences and 6 units of ... Read More

Eligible Penangites should start applying for affordable housing because developers may not carry out more of such projects. State Housing Committee chairman Jagdeep Singh Deo said the profit margin of affordable housing projects was only about 20% and it was not considered lucrative for developers. “We are grateful to Penang ... Read More

Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state. “There has been a slowdown in the last year. There are a few categories of investors in Penang; those who ... Read More