NOVUS

NOVUS in Barat Daya, Penang recorded 16 subsale transactions in 2023, with a median price of RM 698K and a median price per square foot (PSF) of RM 626.

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 698K, with most transactions falling within a stable range of RM 750K to RM 797K, and a typical market range of RM 750K to RM 730K.

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

The median PSF stands at RM 626, with core pricing between RM 539 and RM 712. Market pricing typically extends from RM 597.50 to RM 653.50, reflecting moderate variation in unit pricing. With an IQR of RM 56.00 and MAD of RM 86, the PSF demonstrates reasonable consistency across the market.

Overall, the market in this area appears stable with consistent appreciation, making it an attractive option for both investors and homebuyers. The consistent property type and stable pricing make it easier to assess value and compare trends. Limited transaction history suggests carefully evaluating comparable sales data.