News about Penang

  Here are the price growth trends and indicative asking rental yields for non-landed residences in Northeast Penang.

GEORGE TOWN (Jan 13): The State Land and Mines Office has been instructed not to authorise any land transactions involving 1Malaysia Development Bhd (1MDB) without the state's prior approval.

  We continue our focus on Northeast Penang by looking at average prices on a per square foot (psf) basis.

KUALA LUMPUR (12 Jan): The demand and price of high-rise residential property is expected to remain flat in the next two to three years owing to mismatch between supply and demand, according to international property consultants C H Williams Talhar & Wong Sdn Bhd (WTW).

GEORGE TOWN (Jan 12): The land owner is not allowed to build homes on the illegally cleared Bukit Relau hilltop in Penang, even if the area has been rezoned as residential land.

  Penang is popular among expats or foreigners looking for a holiday home or retirement home under the Malaysia My Second Home scheme.

  KUALA LUMPUR: Consortium Zenith BUCG Sdn Bhd (CZBUCG), the main contractor for the RM6.

  This week’s spotlight falls on the secondary market for non-landed residences in the north-eastern part of Penang island.

DESPITE the current weak market conditions, property developer Eastern & Oriental Bhd (E&O) is planning about RM1 billion worth of launches locally in the next six months (1H2016).

GEORGE TOWN (Jan 8): The final cost of the Penang Transport Master Plan (PTMP) could balloon to more than the estimated RM27 billion once all the plans — including for the elevated rail system alignment — and the relevant detailed studies are completed, with federal approvals obtained.