AIR ITAM

Penang, Malaysia

37
Properties within neighbourhood
0
Convenience Store
0
Shopping Malls
11
Supermarkets & Markets
0
Public Transport
14
Educations
13
Places of Worship
0
Medicals
2
Banks
1
Petrol Station

average

Crime Level

Lebuhraya Thean Teik

Highways

NIL

Upcoming Developments
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About This Map

Transacted Prices

This is a representation of historical transaction prices within the neighbourhood, categorised by non-landed (condominium, serviced apartment, apartment), landed (townhouse, terrace, bungalow, semi-detached, house) and commercial (office, shop).

Did you know?

Transacted Prices will give you an idea of the neighbourhood’s property price trend.

Analysis & Comparison

Analysis and comparison of average transaction, for sale and for rent prices for landed, non-landed and commercial properties within Air Itam *

* To provide you the most accurate information some columns may appear as ‘Insufficient Data’ due to insufficient transactions in the area

Non-Landed Landed Commercial
Avg Transacted Price
Avg Transacted Price(Psf)
Avg For Sale Listing Price
Avg For Sale Listing Price(Psf)
Avg For Rent Listing Price
Avg For Rent Listing Price(Psf)

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Neighbourhood Review

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Air Itam is one of the oldest neighbourhoods in Penang. In the past, it was once an area used mostly for agriculture, but has now developed into a bustling and lively area. This is mainly due to urbanisation and tourism, as the Kek Lok Si temple and Bukit Bendera (Penang Hill) has continuously drawn locals and tourists alike to the area. Situated within the heart of Penang, Air Itam is surrounded by hills on its West, with Balik Pulau on the other side, and also on its South, separating the town from Green Lane.

There are a number of housing estates in the area, with some of the older ones being Thean Teik estate, Hye Keat Estate, Kampung Melayu, Rifle Range and Reservoir Garden. New developments have also been mushrooming around the area, mainly in the area which is now known as Farlim, where there are a number of modern condominium residences and commercial complexes.

Housing developed in the area have mostly catered to those in the lower-middle class income range, given that the community in the area were mostly farmers in the past. This is slowly changing as developers begin to turn their target to the younger, working class generation, as seen with the development of the Farlim area which has brought modern hypermarkets, retails outlets, food and beverage outlets and even a McDonald’s to Air Itam.

Figuring out what or where to eat in the town of Air Itam is not a problem. Home to some of the most famous Penang dishes such as asam laksa and curry noodles, there is also a wide variety of hawker food, hawker centres, homely restaurants and even fast food outlets in the area. Many other amenities such as banks, pharmacies, clinics and laundromats can also be found in the area.

Accessibility wise, Air Itam is about 20 minutes away from Georgetown via Jalan Air Itam, which is one of the main roads leading into the town. Air Itam is also accessible by Jalan Paya Terubong and Batu Lanchang lane, which has been widened throughout the years to accommodate the increased traffic to the area.

However, given the high population density in the town, along with the many tourists who visit the attractions in the area, traffic can become quite a hassle. This is especially during peak hours when residents leave for work in the mornings around 7 a.m. to 8 a.m., and return from work around 6 p.m. to 7 p.m.. Traffic can be even worse during public holidays or weekends when there is an increase in tourists to Kek Lok Si temple and Bukit Bendera.

In spite of that, Air Itam offers life within reach of many convenient amenities surrounded by green hills, fit for those who appreciate a little old world charm in the ever-urbanising island of Penang.

Consumer Price Index

This is a representation of Penang Consumer Price Index (CPI) for the year of 2011 - 2015

Did you know?

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. (Wikipedia)

The Consumer Price Index (CPI) line shows an increment in prices of essential goods on a yearly basis, while the Percentage Changes line shows the level of changes in price increments over the years. For example, a dip in the CPI line may indicate a low level of price increment as compared to the previous year while a surge in CPI line shows a high level of price increment as compared to the previous year.

The above graph shows 1.742% of price changes in essential goods such as rice, meat and tobacco between the years 2011 and 2012, while increasing in difference to 2.093% in 2013. Prices of essential goods then increasing to 3.169% in the year 2014 while surging by 2.529% in 2015.

While the prices of essential goods have shown a variation in the Percentage Changes, the Consumer Price Index (CPI) on the other hand indicates a reality of ever increasing prices in essential goods with increments between the years 2011 - 2015 at 102.7 in 2011, 105.1 in 2012, 107.3 in 2013, 110.7 in 2014, 113.5 in 2015.

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