Patterns in number of property transactions of pre-war shophouse case study: Penang, Malacca and Kelantan

Abstract

Objective - Economic sustainability of heritage property can be measured through an active property transaction of a pre-war shophouse in the study areas. This paper investigates the breakdown of a number of pre-war shophouse transactions in Penang, Malacca, and Kelantan. Methodology/Technique - The documentary method notably the Annual Property Market Report was collected and analysed. Finding - The results demonstrated that in Penang, the pre-war shophouse sub-sector saw mixed movements in the number of transactions while the commercial property-like pre-war shophouse sub-market was generally stable in Malacca and in Kelantan's commercial sub-sector, the pre-war shophouse performed moderately in the review period. Novelty - These patterns of a number of property transactions of a pre-war shophouse in three study areas proved that the heritage property has a sustainable market value.