Penang, Seberang Perai Utara, Butterworth

TAMAN BUNGA MERAH

Area Intelligence

2023

Median Price

RM 1,251,500

PSF: RM 262

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TAMAN BUNGA MERAH in Seberang Perai Utara, Penang recorded 2 subsale transactions in 2023, priced between RM 750K and RM 2.00 million, with a median price of RM 1.25 million and a median price per square foot (PSF) of RM 262.

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 1.25 million, with most transactions falling within a stable range of RM 903K to RM 1.60 million, and a typical market range of RM 1.08 million to RM 1.43 million.

Most transactions involved 2 - 2 1/2 storey shop, with high diversity across multiple property types.

The median PSF stands at RM 262, with core pricing between RM 223 and RM 301. Market pricing typically extends from RM 100.46 to RM 422.96, reflecting moderate variation in unit pricing. With an IQR of RM 322.50 and MAD of RM 39, 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. Moderate price stability provides a balanced market for both buyers and sellers. Limited transaction history suggests carefully evaluating comparable sales data.

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TAMAN BUNGA MERAH, Seberang Perai Utara, Penang

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