Lim: We have open, competitive tenders. We also carry out public consultations before we give the final approval and there are environmental safeguards.

While awaiting better infrastructure, the city experiences a luxury condo boom.

For the financial period, AmProp recognised a gain of RM57 million from the disposal of the 4B Merchant Square in London. This was accompanied by foreign exchange (forex) gains of RM23 million, due to the strengthening of the sterling pound versus the ringgit.

The massive RM27 billion Penang Transport Master Plan is seen as a reservoir of infrastructure works for local and foreign companies in the next 15 years, at least.

Growth in capital values was led by projects in the middle-market segment. The highest relative price growth was at University Condo Apartments 1 on Jalan Sulaman Highway

Will the new policy address the problem of affordability for first-time homebuyers? The reaction from analysts and real estate agents has been mixed.

The city has a fairly sizeable expatriate population who work mainly in the oil and gas industry, and because of the city’s reputation as a retirement and holiday destination.

By average price per unit, the most expensive project was The Loft Private Residences at KK Times Square, at RM909,000. Developed by Asian Pac Holdings, the serviced apartment is part of the KK Times Square project, one of the first in a wave of recent high-end, mixed-use developments. 

The lull in the market follows a period of appreciation when price growth was surpassed only by Kuala Lumpur and Penang leading to a flurry of development activity.

A private caveat is a formal legal notice to the world that you have an interest in a particular property or land.