What are the current market trends and factors affecting property purchase in Penang?
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Current market trends and factors influencing property purchase in Penang are multifaceted. Factors affecting property prices in Penang include the Base Lending Rate (BLR) and Gross Domestic Product (GDP). Housing affordability and ownership in Penang are influenced by variables such as household income and number of children. In the high-rise property market, factors like attitude, perceived behavioral control, and property attributes significantly impact buyer's intentions, while financial factors and property view play a lesser role. Despite speculation, there is no evidence of a housing bubble in Penang, with Consumer Price Index (CPI) and BLR being significant determinants of house prices. Heritage properties in Penang, with their unique characteristics and high returns, offer a diversification strategy in the real estate market.
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| Papers (5) | Insight |
|---|---|
20 Aug 2015 6 Citations | Factors affecting property purchase in Penang include household income and number of children. Market trends are not specifically addressed in the paper. |
| Factors affecting property purchase in Penang include GDP, CPI, BLR, and housing supply. The study found no evidence of a housing bubble but highlighted the impact of inflation and borrowing costs on house prices. | |
| The Penang Heritage Property Price Index (PPHPPI) reveals high returns and risks, showcasing heritage properties as unique investments with low correlation to traditional asset classes. | |
| Current market trends in Penang show Base Lending Rate (BLR) and Gross Domestic Product (GDP) as key factors influencing residential property prices, impacting purchase decisions. | |
18 May 2020 4 Citations | Factors influencing purchase intention of high-rise properties in Penang include attitude, perceived behavioral control, and property attributes, while financial factors, developer branding, and property surrounding show insignificant impact. |
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