THE WATERFRONT (RATU MUTIARA) in Timur Laut, Penang recorded 3 subsale transactions in 2024, with a median price of RM 620K and a median price per square foot (PSF) of RM 410.
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 380K to RM 860K, and a typical market range of RM 366K to RM 874K.
Most transactions involved condominium/apartment, with minimal variety in property types.
For price per square foot, the median is RM 410, with most transactions between RM 400 and RM 420. The usual range is RM 399.75 to RM 420.25, showing that most units are priced quite close to each other. A typical spread (IQR) of RM 20.50 and an average deviation (MAD) of RM 10 indicate a highly stable PSF trend across properties.
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.
