The world financial market has been lurching from one crisis to another. How much will Penang be affected? Where is our property market heading in 2013?
Yes, most probably, Penang's property market will come to be affected by the global crisis. That is the simple answer to the question most people are asking; but it should be resilient enough to bounce back.
In general terms, 2013 will see some sectors of the market stabilising while others like the landed property market will continue to increase as supply in prime areas decreases when compared with demand, especially with the scarcity of land.
Rehda Penang chairman Datuk Jerry Chan says: “Liquidity, easy and cheap credit and a bullish sentiment for Penang properties are the main factors (for rising property prices).
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