NOVO 8 RESIDENCE

NOVO 8 RESIDENCE in Melaka Tengah, Melaka recorded 3 subsale transactions in 2024, with a median price of RM 450K and a median price per square foot (PSF) of RM 506.

This area consists exclusively of residential properties, with no commercial listings recorded.

Price remained flat, and PSF growth was PSF remained flat. The median price is RM 450K, with most transactions falling within a stable range of RM 378K to RM 522K, and a typical market range of RM 389K to RM 511K.

Most transactions involved service apartment, with minimal variety in property types.

For price per square foot, the median is RM 506, with most transactions between RM 503 and RM 509. The usual range is RM 503.50 to RM 508.50, showing that most units are priced quite close to each other. A typical spread (IQR) of RM 5.00 and an average deviation (MAD) of RM 3 indicate a highly stable PSF trend across properties.

Overall, the market in this area appears stable with consistent appreciation, making it an attractive option for both investors and homebuyers. Moderate price stability provides a balanced market for both buyers and sellers. Limited transaction history suggests carefully evaluating comparable sales data.