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. Type of Paper: Review JEL Classification: D23, D29. Keywords: Economic Thought; Heritage; Market Value; Property Transaction; Real Estate; Sustainable Reference to this paper should be referred to as follows: Azmi, F.A.M; Maimun, N.H.A. (2022). Patterns in Number of Property Transactions of Pre-War Shophouse Case Study: Penang, Malacca and Kelantan, GATR-Global J. Bus. Soc. Sci. Review, 10(2), 72–76. https://doi.org/10.35609/gjbssr.2022.10.2(1)