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• The property market consolidated in 1999, total number transactions rose 5.1% but with a 5.2% dropped in tatal value compared to 50.1% significant drop last year.

• The residential property maintained its domination on property market accounting 75.1% and 60.5% of total transactions and total value respectively.

• Purchases by foreigners in Palau Pinang increased to 125 approvals compared to previous year's 107, mainly on apartments and condominiums. The major buyers were indonesians (46), Singaporeans (41) and Taiwanese (28).

• Demand continued to focus on residential units priced RM150,000 and below, especially flats and terraced houses. Generally, there was a downtrend in prices and rentals state-wide.

• The office sector, occupancy rate in the island increased to 74% from 71.6% in 1998. The performance in Seberang Perai fell further from 48.4% to 38%. Rental discounts, up to 15% - 30%, were given by several office building to improve the occupancy rate.

• The retail property sector's performance continued to fall in 1999. There was a reduction of 3.1% in total transactions.

• The industrial property, agricultural property and development land were generally sluggish in Palau Pinang.

Palau Pinang (Number of Property Transactions)

Johor ~ Kedah ~ Kelantan ~ Kuala Lumpur ~ Malacca ~ Negeri Sembilan ~ Pahang ~ Perak ~ Perlis ~ Pulau Pinang ~ Sabah ~ Sarawak ~ Selangor ~ Terengganu

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