THE COVE

Area Intelligence

2021

Median Price

RM 2,425,000

PSF: RM 416

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Residential PSF Trends

Median Price

RM 2,425,000

PSF: RM 416

THE COVE in Timur Laut, Penang recorded 2 subsale transactions in 2021, with a median price of RM 2.43 million and a median price per square foot (PSF) of RM 416.

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 2.43 million, with most transactions falling within a stable range of RM 2.15 million to RM 2.70 million, and a typical market range of RM 2.15 million to RM 2.70 million.

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

The median PSF stands at RM 416, with core pricing between RM 369 and RM 463. Market pricing typically extends from RM 369.00 to RM 463.00, reflecting moderate variation in unit pricing. With an IQR of RM 94.00 and MAD of RM 47, 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. The consistent property type and stable pricing make it easier to assess value and compare trends. Limited transaction history suggests carefully evaluating comparable sales data.

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THE COVE, Timur Laut, Penang

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