HOW is the property market in Penang doing currently?
In a snapshot, the top three most popular areas for house buyers are in the state’s mainland — Butterworth, Bukit Mertajam and Simpang Ampat.
Bukit Mertajam is also the most popular area in Penang.
In Penang island, Ayer Itam and Jelutong are the top two favourite areas for buyers.
In term of property types, terraced houses are the most popular in the state, and the most transacted project is Bandar Tasek Mutiara.
These sales and purchase data have been
compiled by property portal Brickz (at www.brickz.my) from the Valuation and Property Services Department.
“This is based on the review period between January 2018 and December 2018. We have rounded up the top areas and projects in Penang for anyone looking to maximise their properties’ potential,” said iProperty.com Malaysia Sdn Bhd general manager David Mawer.
TOP FIVE AREAS IN PENANG
According to the data compiled by Brickz, in terms of the number of transactions, Bukit Mertajam is the most popular neighbourhood among buyers last year.
Mawer believes one of the contributing factors could be the availability of affordable alternatives, especially for landed houses, compared to properties in Penang island.
“Bukit Mertajam has an affordable median price of roughly RM300,000. Not just that, Bukit Mertajam is also a mature area and a major town in Seberang Prai,” said Mawer.
The Bukit Mertajam town is about 11km from the Penang Bridge and has direct access to the North-South Expressway Juru Interchange.
Bukit Mertajam has various tourist attractions, such as St. Anne’s Church and Hock Teik Cheng Shin Temple.
The second most popular area is Butterworth, which is an industrial area and the largest town in Seberang Prai.
Based on the data, the median price of a property in Butterworth is RM330,000.
The 2010 census by the Department of Statistics Malaysia shows that Butterworth is the largest town by population within the Seberang Prai municipality.
In terms of transportation, the ferry service links Butterworth and Georgetown while the KTM Butterworth station is located about 700 metres from the ferry terminal.
“The median built-up sizes for properties in Butterworth is 1,000 sq ft, which is almost twice the size of properties in Jelutong. This means buyers are getting a bigger house in Butterworth for roughly the same price for a smaller house in Penang island,” said Mawer.
Meanwhile, Jelutong, a suburb of Georgetown, is the only area in Penang island that is in the Top 5.
The median price for a property in Jelutong is RM339,000 and the median per sq ft price is RM450 although the built-ups are smaller than properties in Butterworth.
Mawer said Jelutong is slated to be the next
hotspot in Penang with plans by the state government to turn a 40ha landfill into an eco-futuristic town.
TOP PROJECTS IN PENANG
According to Brickz compiled statistics, Sanctuary Garden is the most transacted project in Bukit Mertajam.
Sanctuary Garden features freehold two-storey semi-detached houses of four bedrooms and three bathrooms.
It is attractive to buyers as the area is about 20km to the Penang Bridge and around 17km to the second bridge, Sultan Abdul Halim Muadzam Shah Bridge.
The most transacted project in Butterworth is Taman Bagan, which comprises double- and single-storey terraced houses.
Mawer said property prices in Taman Bagan range from RM402,000 to RM800,000 per unit.
Taman Bagan is in a prime location with many amenities within its reach. This includes the Butterworth Ferry Pier, which is within 5km radius, while the KTM Butterworth station, which serves the Butterworth-Kuala Lumpur electric train line, is about 4km away.
On top of that, Taman Bagan also has easy access to the Butterworth-Kulim Expressway and is linked to the North-South Expressway and other parts of Seberang Prai.
In Jelutong, Desa Pinang 2 is the most transacted project. It is located nearby Tun Dr Lim Chong Eu Highway and consists of flats of 527 to 614 sq ft.
HOT SELLING RESIDENTIAL PROPERTIES
The data show terraced houses are the hottest selling type of property in Penang. The top three areas are all in the mainland.
“This is due to the more affordable price range compared to properties in Penang island, as well as more options for landed properties,” said Mawer.
Bukit Mertajam recorded the highest number of transactions for terraced houses with prices from RM43,000 to RM988,000.
The built-ups range from 594 to 2,964 sq ft while the median price for a terraced house is RM330,000. The properties include those for auctions, sub-sales and new launches.
Flats are the second hottest-selling property type in Penang. A total transaction of 1,700 units was recorded last year, and Ayer Itam had the highest transaction. The median price for a flat in Ayer Itam is RM120,000 with a median built-up of 538 sq ft.
“Based on our listings at iProperty.com.my, the flat built-ups in Ayer Itam range from 400 to 860 sq ft. The price starts from RM75,000 to RM350,000. These flats are all auctioned and sub-sale properties,” said Mawer.
The top three best-selling property type in Penang is apartment, with 1,691 transactions last year.
Interestingly, Jelutong recorded the highest number of apartment sales in Penang.
The median price for an apartment unit in Jelutong is RM350,000. The price range is from RM31,000 to RM980,000 for units with built-ups of 470 to 2,000 sq ft.
“These are all unfurnished, partly furnished and fully furnished apartments,” said Mawer.
The most transacted apartment project in Penang is Suria @ Hijau E-Komuniti in Batu Kawan, which recorded 66 transactions.