Aug 27, 2015
Prices in Penang’s secondary property market are set to increase 15% to 20% when buyers’ confidence return post the Goods and Services Tax, says the Malaysian Institute of Estate Agents (MIEA). This is because secondary home market prices are lower than newly launched properties. MIEA president Erick Kho said Penang is the best-performing market in Malaysia. The secondary market takes up 70% of Penang’s market share.