Moderate performance seen in Kedah’s property market

PETALING JAYA (May 8): The Kedah property market recorded moderate performance in 2014, led by the residential property sector, which comprised 51.2 % of market activity.

Single and two-storey terraced houses in Kuala Muda experienced positive growth. Prices ranged between RM80,000 and RM140,000 and RM130,000 and RM270,000 respectively.

Double-storey terraced houses in Kulim recorded positive gains, with units in Taman Kulim Square fetching the highest prices, ranging between RM220,000 and RM315,000.

The All House Price Index stood at 204.1 points as at 4Q2014, an increase of 6% from 2013.

Single-storey low and medium-cost terraced houses in several well located schemes and those near higher learning institutions in Kota Setar and Kubang Pasu recorded double-digit growth.

Single-storey medium-cost terraced houses in Langkawi recorded gains as high as 38%, with monthly rents of between RM350 and RM500, mainly due to the popularity of homestays.

Residential overhang was recorded at 26.9% or 865 units, compared with 1,184 units in 2013.

The value of overhang saw a slight increase of 4.3% to RM133.14 million compared with RM127.62 million previously.

Unsold under-construction units dropped to 34.5% or 2,810 units, while unsold not constructed units stood at 1,537.

(Source: Napic)