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:

DateTypeBuiltupPrice
TodayCondominium850 sfRM350,000
TodayCondominium850 sfRM380,000
TodayCondominium1,000 sfRM480,000
TodayCondominium936 sfRM480,000
TodayCondominium700 sfRM350,000
TodayCondominium700 sfRM350,000
TodayResidential Land-NA-RM690,000
TodayApartment700 sfRM260,000
TodayCondominium1,566 sfRM850,000
TodayCondominium1,334 sfRM373,000

Latest Penang for rent listings:

DateTypeBuiltupRental
TodayRoom-NA-RM300
TodayTownhouse1,000 sfRM1,400
TodayRoom In Apartment-NA-RM200
TodayRoom In Apartment-NA-RM200
TodayRoom In House-NA-RM265
TodayRoom In Apartment-NA-RM500
TodayRoom In Apartment-NA-RM500
TodayRoom In Apartment-NA-RM500
TodayRoom In Apartment-NA-RM500
TodayCondominium1,100 sfRM1,650