Prices of medium-cost residential properties in Penang are expected to appreciate this year due to significant demand for houses below RM400,000 says a real estate consultant.

Henry Butcher Malaysia (Seberang Perai) Sdn Bhd senior manager Fook Tone Huat said this category of residential properties were also recession proof.

For high-end properties, he said the take-up rate was expected to gradually slow down while prices were likely to be flat as buyers continue to remain cautious over the domestic and global economy.