Based on PropertyGuru DataSense’s housing transaction data nationwide for the quarter of 2021, Ipoh is listed among the five most popular areas recorded according to total transactions.
Mayor, Dato’ Rumaizi Baharin stated that Ipoh recorded a total of 527 transactions with a median price of RM296,000.
According to him, other locations included Klang with 485 transactions and median price of RM462,500, Puchong (445, median price of RM698,750), Cheras (347, median price of RM415,250) and Kajang (340, median price of RM296,000).
“Ipoh, the capital city of Perak not only has a low median price, but it is also viewed as a hotspot due to its many facilities and recreational areas.
“Ipoh is among the most developed areas and recently, Perak has submitted a proposal for the development of a light rail transit system (LRT) in the city.”
He said so during the Ipoh City Council’s full board meeting for the month of February at the council meeting hall.
He added that generally, the price increase in the real estate market can be affected by several factors.
“One of them is demand. When more people start to seek and purchase homes in an area, the real estate price there will begin to increase.
“House location is another main factor. A strategic location such as a mature neighbourhood provides various facilities.
“Besides that, easy accessibility will allow residents to have access to main highways to ease their journeys.
“The real estate value in a fast developing area always increases due to development plans and facilities which will improve life quality.
“Houses near the city are always in demand as it provides the needed facilities. Thus, the price will increase in line with it,” he said.