After a year of battling the Covid-19 pandemic, there does not seem to be an end in sight with many countries continuing to impose lockdowns, albeit of differing severity. In Malaysia, the third wave of the outbreak and the subsequent Movement Control Order (MCO) 2.0 have added to the uncertainties in the country’s economic outlook.
However, amid the current turmoil, there is some good news for Penang. In presenting the 4Q2020 Penang Housing Property Monitor, Raine & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh says data from the National Property Information Centre (Napic) shows that the state’s property market saw a major spike in terms of transaction volume in 3Q2020, and he expects this trend to have continued into 4Q2020.