Penang, Malaysia

Penang is a state of Malaysia that located in the northern region of the country peninsula. Even though Penang is a state but it seems more like a metropolitan area of Penang, as this tiny state has only the size of a big city. The population of Penang is around 2 millions, and is the only state in Malaysia that has a Chinese majority population. The public transportation in Penang is not very well built, as the state is run by the opposition government, henceforth is often neglected of federal funding.

As for the real estate market, Penang has one of the least affordable housing markets in the country due to its scarce land mass. Besides, the persistent high property prices here are also due to the abundance of high-income workers from the manufacturing multinationals based in Penang. As for foreigners, they usually prefer to buy one of those beach condos and houses in the coastal areas of Penang; namely Batu Ferringhi and Gurney Drive.

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

In order to curb property speculation, however Penang has one of the least foreigner-friendly real estate investment policies by the state government. There is a minimum price of RM1 million for high-rise residential properties and up to RM2 millions for landed residential properties when purchased by foreigners.

Latest Penang for sale listings:

DateTypeBuilt-upPrice
TodayResidential Land-NA-RM13,068,000
TodayCommercial Land-NA-RM22,445,781
TodayCommercial Land-NA-RM46,819,594
TodayBungalow5,144 sfRM4,200,000
TodayCondominium1,246 sfRM865,000
TodayCondominium996 sfRM460,000
TodayCondominium2,960 sfRM2,180,000
TodayCondominium517 sfRM610,000
TodayBungalow4,400 sfRM2,500,000
TodayBungalow4,324 sfRM2,380,000

Latest Penang for rent listings:

DateTypeBuilt-upRental
TodayRoom In Apartment-NA-RM550
TodayCondominium700 sfRM950
TodayCondominium3,132 sfRM7,000
TodayRoom In Apartment-NA-RM420
TodayRoom-NA-RM450
TodayRoom In Apartment-NA-RM200
TodayRoom In Apartment-NA-RM375
TodayRoom In Apartment-NA-RM650
TodayRoom In Apartment-NA-RM500
TodayCondominium1,165 sfRM630