BANDAR BARU AIR ITAM in Timur Laut, Penang recorded 80 subsale transactions in 2022, with a median price of RM 148K and a median price per square foot (PSF) of RM 268.
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 148K, with most transactions falling within a stable range of RM 113K to RM 183K, and a typical market range of RM 93K to RM 203K.
Most transactions involved low-cost flat, with high diversity across multiple property types.
The median PSF stands at RM 268, with core pricing between RM 226 and RM 310. Market pricing typically extends from RM 225.50 to RM 309.50, reflecting moderate variation in unit pricing. The spread of RM 84.00 (IQR) and deviation of RM 42 (MAD) suggest moderate price variations reflecting different property features.
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. Moderate transaction volume may require patience when buying or selling.
