News by Tan Ai Leng

With the Penang Transport Master Plan now being implemented, the areas on mainland Penang closest to the island stand to benefit from major new developments.

The move to immediately limit sales of new homes priced up to RM300,000 to first-time homebuyers has drawn especially strong reactions.

The 2.1-acre freehold project known as Twinz Residence will comprise two 20-storey residential towers and is located next to Koi Kinrara, a high-density condominium.

The Klang Valley residential market saw price growth in 3Q2015, albeit at a slower pace, as homebuyers remained cautious about the current economic and political situation.

According to Knight Frank’s report, there are currently 92.5 million sq ft of office space in the Klang Valley. However, 65% of the supply are Grade B and C offices, which have lower occupancy rates and rental growth.

The current property market slowdown will be positive in the long-term as it is reining in the rapid price increases, cooling the market and reducing speculation, said Henry Butcher (M) Sdn Bhd COO Tang Chee Meng.

A year to invest in property for the long term, says Chinese metaphysics consultant Joey Yap.

Sold for: RM1.15 million or RM1,241psf; Concluded by: Jerrie Chea and Desmund Chun of Propstar Realty (012-704 1074); When: Oct 25, 2015

Sold for: RM1.11 million or RM955psf; Concluded by: Patrick Teow of MIP Properties (012-704 1074); When: Nov 26, 2015

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