The prices for High End properties in Penang has reach record high level, with most of them selling above 1.0 mil a unit for landed property or even Condo.
The newly launch from Mah Sing will be price 3 - 4 million per unit, after this we will see IJM, Queensbay & E&O launching their HIgh End properties that selling above 1 mil for link house, & multi millions for semi D & Villa.
For those who wish to speculate in Properties, before you cheer for this record high property price, please sit down & try to imagine the supply of this HIGH END properties in 3 years time from now, when the the projects completed in year 2012-2013.
Will the price sustainable or what is the chances of properties price continue to surge if:-
- The economy growth remained low at 3 -4 %
- The average Malaysian monthly income level remained depressed at low level of 2000-5000 monthly
- Over supply of High End properties by greedy developers.
- Every new projects only have less than 50% occupancy when completed.
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