Hi all:

I am living in Bukit Mertajam (Penang State) area, and currently I am paying attention to a lot of new housing projects in my area...I found out that the new houses are already selling at a price where normal folks would find it difficult to afford...eg a double storey linked house can sell at RM250k to RM300k and for those already built can be selling at RM320k and above...Semi-D houses can be price at RM360k to RM420k depending on location... not to forget there are a lot of bungalow popping like mushroom selling at RM500k and above...

I strongly believe that the prices are over inflated...yet new projects lauched everywhere...just around my house there are already more than 10 projects involving more than 2000 new houses in development....

I wonder how the population can sustain the new houses...are we suddenly having a boom in population where new houses are urgently needed? This phenomena reminds me of during the pre-Asia Economy Crisis where new shopping malls and shop houses being contructed everywhere...everyone was so excited that we all think that fianlly we are getting a big development in the area, everyone was rushing to acquire one commercial shoplot at that time... look at it now in my area...more than 5 shopping complex emptied....thounsands of shoplots unoccupied...money invested in this sector was gone into the drain.

Will the same thing happen to the residency properties soon?

look at every new lauched projects, more than 60% of houses reserved during the first few days of open sales...are the property sector really booming? Anyone would like to explain why this can happen?