NOVUS

Area Intelligence

2023

Median Price

RM 549,500

PSF: RM 675

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Residential PSF Trends

Median Price

RM 549,500

PSF: RM 675

NOVUS in Barat Daya, Penang recorded 4 subsale transactions in 2023, with a median price of RM 550K and a median price per square foot (PSF) of RM 675.

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

Price remained flat, and PSF growth was PSF remained flat.

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

For price per square foot, the median is RM 675, with most transactions between RM 638 and RM 712. The usual range is RM 646.50 to RM 702.50, showing that most units are priced quite close to each other. With an IQR of RM 56.00 and MAD of RM 37, 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.

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NOVUS, Barat Daya, Penang

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