How are House Prices in Penang Performing during the Pandemic?

By Ong Wooi Leng

October 2021 FEATURE
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MALAYSIA’S PROPERTY MARKET is expected to continue to be sluggish throughout 2021. As Covid-19 cases continue to hit record-breaking highs, many potential homebuyers across primary and secondary housing markets are, however, on the lookout for the best deals.But is this the best time for a property purchase, when prices are vulnerable to pandemic-related uncertainties?Positive Growth in Housing SupplyPenang has seen an increase in the supply of residential properties. Notwithstanding MCO 2.0, the state’s existing residential stock climbed by 2.5% to...

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Ong Wooi Leng

heads the Socioeconomics and Statistics Programme at Penang Institute. Her work lies in labour market analysis and socio-economic development.