Much has been going on lately that has affected both the supply and demand sides of the property market in Penang. PEM takes a quick look at the key factors involved.
What Are The Key Factors that are bringing investors into the property market in Penang?
There have been some recent significant changes, as can be seen in how discussions on the issue have multiplied and voices have been raised.
The recent government regulations and relaxation of FIC (Foreign Investment Committee) Guidelines on June 30, 2009 can be seen to have contributed to this. Foreign investors do not require the approval of the FIC for the purchase of commercial properties valued at RM500,000 and above and RM250,000 (increased to RM500,000 from January 1, 2010) for residential properties.
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