CITY OF DREAMS

Area Intelligence

2023

Median Price

RM 1,500,000

PSF: RM 1,225

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Residential PSF Trends

Median Price

RM 1,500,000

PSF: RM 1,225

CITY OF DREAMS in Timur Laut, Penang recorded 13 subsale transactions in 2023, with a median price of RM 1.50 million and a median price per square foot (PSF) of RM 1,225.

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 1.50 million, with most transactions falling within a stable range of RM 2.30 million to RM 1.91 million, and a typical market range of RM 2.30 million to RM 1.65 million.

Most transactions involved service apartment, with minimal variety in property types.

The median PSF stands at RM 1,225, with core pricing between RM 985 and RM 1,465. Market pricing typically extends from RM 1,114.88 to RM 1,335.13, reflecting moderate variation in unit pricing. The spread of RM 220.25 (IQR) and deviation of RM 240 (MAD) suggest moderate price variations reflecting different property features.

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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CITY OF DREAMS, Timur Laut, Penang

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