Flat growth expected in Penang’s property market this year | Malay Mail

Growth of the property market in Penang is expected to remain flat in 2019, according to an international real estate consulting firm. — Picture by Sayuti Zainudin

Henry Butcher Malaysia Sdn Bhd associate director Fook Tone Huat said the United States -China trade war, the property overhang issue and difficulty in getting bank loans were some of the possible factors affecting the property market’s performance. The HOC aims to resolve the high number of unsold homes in Malaysia by offering incentives such as price discounts and stamp duty exemption on the instrument of transfer and loan agreement for houses priced between RM300,001 and RM1 million for first-time house buyers.

“If the economy can perform well with no global issues such as the US-China trade war, I believe that there could be a possible recovery next year,” he added.

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