RAFFEL TOWER in Timur Laut, Penang recorded 9 subsale transactions in 2023, with a median price of RM 620K and a median price per square foot (PSF) of RM 961.
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 620K, with most transactions falling within a stable range of RM 611K to RM 620K, and a typical market range of RM 600K to RM 620K.
Most transactions involved condominium/apartment, with minimal variety in property types.
For price per square foot, the median is RM 961, with most transactions between RM 929 and RM 993. The usual range is RM 848.00 to RM 1,074.00, showing that most units are priced quite close to each other. With an IQR of RM 226.00 and MAD of RM 32, the PSF demonstrates reasonable consistency across the market.
While the area has shown positive growth trends, price variations suggest a more dynamic market. This presents opportunities for investors comfortable with moderate volatility. Significant price variations suggest comparing multiple properties and timing the market carefully. Limited transaction history suggests carefully evaluating comparable sales data.
