Penang, Malaysia

Situated in the northern region of the Malaysian peninsula, Penang is a small but bustling state that rivals the dynamism of major metropolitan areas. Its population hovers around 2 million residents, notably making it the only state in Malaysia with a majority Chinese demographic. However, public transportation infrastructure has not been optimally developed, partly due to political dynamics; the state government, led by the opposition party, often struggles to secure federal funding.

Penang comprises two primary sections: Penang Island and the mainland area known as Seberang Perai. The state's capital city, Georgetown, is jointly listed with Melaka as a UNESCO World Heritage site. Penang is celebrated as Asia's Food Paradise, thanks to its tantalising fusion of Malay, Chinese, and Indian culinary traditions. This gastronomic magnet draws visitors from far and wide. The local population predominantly communicates in the Penang Hokkien dialect, and interestingly, it's not uncommon for people of different ethnicities to employ this Chinese dialect in their daily exchanges.

The real estate market in Penang presents one of the least affordable scenarios in the country, a predicament born out of limited land resources and an abundance of high-income workers stemming from the numerous manufacturing multinationals based here. Foreign investors are particularly attracted to beachfront condos and houses along the scenic coastal areas of Batu Ferringhi and Gurney Drive.

The following shows the residential property transactions in Penang over the last few years:

However, to restrain property speculation, Penang's state government has implemented one of the least foreigner-friendly real estate investment policies. The minimum purchase price for high-rise residential properties is set at RM1 million and escalates to RM2 million for landed residential properties when acquired by foreign nationals.

Over time, Penang has transformed into a prominent tourist destination, magnetising visitors much like sugar attracts ants. This influx, combined with one of the highest population densities in the country, has resulted in a significant issue: traffic congestion. This problem intensifies during peak tourist seasons and before and after standard working hours. To mitigate this, the Penang Transport Master Plan (PTMP), costing approximately RM46 billion, was introduced. The initial phase of this ambitious project, encompassing the Pan Island Link 1 (PIL 1) highway, the Bayan Lepas Light Rail Transit (LRT), and several major highways, was approved in November 2018. This initiative is expected to boost property prices on the mainland, further reshaping the economic landscape of Penang.

Latest Penang sale listings:

TarikhJenis HartanahBinaanHarga
TodayCondominium700 sfRM306,000
TodayCondominium-NA-RM510,000
TodayTerrace1,600 sfRM450,000
TodayCondominium1,441 sfRM440,000
TodayTerrace-NA-RM423,000
TodayCondominium529 sfRM130,000
TodayCondominium938 sfRM400,000
TodayCondominium646 sfRM160,000
TodayCondominium1,200 sfRM590,000
TodayCondominium732 sfRM240,000

Latest Penang rental listings:

TarikhJenis HartanahBinaanSewaan
TodayMaster Room-NA-RM500
TodaySingle Room-NA-RM400
TodayLow-Cost Flat200 sfRM150
TodayCondominium1,100 sfRM1,700
TodayMaster Room-NA-RM700
TodayMedium Room-NA-RM550
TodayMedium Room-NA-RM500
TodayMedium Room-NA-RM380
TodayMedium Room-NA-RM500
TodayMedium Room-NA-RM520
18 user comments on Penang
Joe
1 Aug 2019 @ 6:55 PM

Used to own a unit here, and the view from high floor was excellent. It was one of the tallest apartment in Penang.

Foods at hawker stall beside the road is not bad.

Parking lots are limited. Might have to park on the roadside if the household have more than one vehicle.

One of the favorites among USM expat students.

Beautiful place.. Love everything except for the rush hour jam.

Joe
10 Aug 2019 @ 12:56 PM

Management should probably do something about those half completed pillars on the top floor.

Parking system here is a nightmare... The density is so high to the point where people need to double-park anywhere possible and leave the handbrake loose in case the other person wants to leave the parking spot. So always need to choose between 'to block' or 'to be blocked'.

This area is located near the Durian Tunggal town. There are multiple double storey shop lots located here that provide amenities such as convenience stores, eateries, supermarkets, and wet markets.

Julianna
6 May 2020 @ 2:12 PM

Normally used for family vacation via agoda and booking. Visitors are usually Malays.

There are quite a number of the units here that are rented out as short stay homes. The peaceful nights of the residents here are occasionally disturbed by them.

Julianna
11 Aug 2020 @ 12:50 PM

This project is a failure. It has either been abandoned at the final stage or the houses has been wrecked. The houses have been left unattended with overgrown trees and plants. The number of units that are actually cared for can be counted with one hand.

Julianna
11 Aug 2020 @ 1:27 PM

Luxurious seaside property but there is a mosque beside it and it usually poses as a problem for light sleepers.

Youaskforfun
30 Nov 2020 @ 12:20 PM

Nearby 300m got big big chicken, river also overflow when raining.

May I know Taman Bukit Minyak near to Taman Sentul Jaya Juru ?

so nak contact dekat mana? 0145035166

For sale
Medan Lumba Kuda Jalan Sekolah la Salle, Ayer ltam Penang
near to PENANG TURF CLUB, GH.
Next to UNION Primary School

size 850sf Corner unit middle floor
Freehold
3 rooms 2 bathroom with 1 carpark lot

Nice renovated with fully furnished, quiet residential neighborhood,

living hall balcony facing nice view of Kek lok See, serene environment
with condo facilities, lift, swimming pool and 24 hrs security
view to appreciate !

Asking price: RM460K Negotiable to sincere Buyers only

Interested please call 0124479623 for viewing

Jane Low
6 May 2024 @ 10:52 PM

Relau Vista at Relau For sale

Top floor Corner unit
850sf High ceiling
good vertilation
Balcony facing South
Excellent seaview, windy environment

3 Bedrooms + 2 Bathrooms
2 Covered carparks at ground floor

Basic Renovated with plaster ceiling
Partially fitted and furnished
move in condition
well maintained
Suitable buy for own stay or rental investment

Asking Price: RM355k negotiable
Please call 0124479623 for viewing

Siewhoaytan
11 May 2024 @ 9:33 AM

The owner there like to do homestay. Not recommend to rent and buy.