VERVEA

VERVEA in Seberang Perai Selatan, Penang recorded 16 subsale transactions in 2022, with a median price of RM 1.47 million and a median price per square foot (PSF) of RM 1,205.

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

Price remained flat, and PSF growth was PSF remained flat. The median price is RM 1.47 million, with most transactions falling within a stable range of RM 1.24 million to RM 1.77 million, and a typical market range of RM 1.24 million to RM 1.73 million.

Most transactions involved 3 - 3 1/2 storey shop, though some variety exists in the market.

Price per square foot shows a median of RM 1,205, though individual units vary from RM 802 to RM 1,607 in the core range. The broader market spans RM 957.50 to RM 1,451.50, indicating diverse property characteristics. A wider spread (IQR: RM 494.00) and deviation (MAD: RM 403) indicate significant PSF variations, likely due to diverse property types or conditions.

While the area has shown positive growth trends, price variations suggest a more dynamic market. This presents opportunities for investors comfortable with moderate volatility. Some price volatility exists, making thorough market research essential before transacting. Limited transaction history suggests carefully evaluating comparable sales data.