Property prices still affordable as transactions is happening

Penang property prices are too high?

To me personally, a special market for Penang Island property where the rental guide on the property prices, it will hardly find a property that the rental could cover the interest…

Not saying to cover the instalment ya, just interest alone also couldn’t cover.

But why Penang properties still on the move and people start buying? I saw many transactions actually happening and their loan is approved.

Some of them already got their keys especially those project already completed and balance unit is clearing since 2020…

2022 already sold out.

Yes, this year, now we already can’t find a completed project and still selling by developer anymore, I would say that the bottom point of property price is just over.

Added on with inflation after majority of business operation cost was affected with covid since 2019…

Property prices forced to increase.

Not much project in the market recently in Penang, newer one developer not yet launch, old and balance selling one price has forced to increase…

In fact, if property prices continue to fall, even property developers would have to find another business to venture into. Building homes which will take 3 years and at the end of 3 years, the property price their property could fetch is lower than the property price three years ago?

Another ideas on Why it’s not easy for property prices to fall?

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