NOVO 8 RESIDENCE

NOVO 8 RESIDENCE in Melaka Tengah, Melaka recorded 3 subsale transactions in 2023, with a median price of RM 425K and a median price per square foot (PSF) of RM 460.

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 425K, with most transactions falling within a stable range of RM 337K to RM 500K, and a typical market range of RM 364K to RM 486K.

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

For price per square foot, the median is RM 460, with most transactions between RM 447 and RM 473. The usual range is RM 457.50 to RM 462.50, 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 13 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. Moderate price stability provides a balanced market for both buyers and sellers. Limited transaction history suggests carefully evaluating comparable sales data.