NOVO 8 RESIDENCE

NOVO 8 RESIDENCE in Melaka Tengah, Melaka recorded 9 subsale transactions in 2021, with a median price of RM 531K and a median price per square foot (PSF) of RM 489.

This area consists exclusively of residential properties, with no commercial listings recorded.

Price remained flat, and PSF growth was PSF remained flat. The median price is RM 531K, with most transactions falling within a stable range of RM 444K to RM 618K, and a typical market range of RM 470K to RM 592K.

Most transactions involved service apartment, with minimal variety in property types.

For price per square foot, the median is RM 489, with most transactions between RM 486 and RM 492. The usual range is RM 486.50 to RM 491.50, showing that most units are priced quite close to each other. A typical spread (IQR) of RM 5.00 and an average deviation (MAD) of RM 3 indicate a highly stable PSF trend across properties.

Overall, the market in this area appears stable with consistent appreciation, making it an attractive option for both investors and homebuyers. The consistent property type and stable pricing make it easier to assess value and compare trends. Limited transaction history suggests carefully evaluating comparable sales data.