Penang sees new hope amid global recession


  • Business Premium
  • Saturday, 12 Sep 2009

THE liberalisation of the Penang property market to counter the challenges of the global recession has given the market new drive and inspiration.

Stimulus packages, low interest regimes, special financing packages and the recent revision of the plot ratio guidelines by the state government were some of the measures to keep interest high among both consumers and developers when the island’s property market went into a slowdown for the first quarter of this year.

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