Property Outlook From The North

If you think the property prices up North in hotspots like Penang are going to go down, “Don’t hold your breath.”

This is what REHDA’s Penang branch Chairman, Datuk Jerry Chan said during the association’s

annual press conference on 10th December 2014.

Rather, Datuk Chan said to expect property prices to continue to rise due to a few reasons:

i) Increase in land prices mainly contributed by the Penang State government compensating

Beijing Urban Construction in lieu of the cost of construction for the undersea tunnel. This has

caused land in Tanjung Tokong and the surrounding area to increase significantly. This in turn triggered an increase elsewhere in the state as well.

ii) Introduction of GST, the increase in electricity tariff and subsidy cuts will contribute to the increase in property prices due to the increase in prices of raw materials.

To read the rest of this article please go to http://propertyoutlookconference.com/2014/property-outlook-from-the-north/

The Property Outlook Convention aims to provide investors with the latest information on the current property market conditions and innovative property investment strategies. It is organized by Wealth Mastery Academy, a company committed to providing solid financial education and wealth creation strategies to the masses.