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 for sale listings:

Date Type Builtup Price
Today Condominium 1,260 sf RM1,030,000
Today Condominium 1,260 sf RM1,038,888
Today Low-Cost Flat 700 sf RM115,000
Today Condominium 1,203 sf RM610,000
Today Apartment 740 sf RM399,000
Today Condominium 1,000 sf RM550,000
Today Condominium 1,100 sf RM505,000
Today Condominium 700 sf RM240,000
Today Condominium 1,200 sf RM515,000
Today Condominium 700 sf RM300,000

Latest for rent listings:

Date Type Builtup Rental
Today Condominium 1,338 sf RM2,200
Today Condominium 400 sf RM1,100
Today Studio 400 sf RM1,100
Today Condominium 750 sf RM1,000
Today Condominium 1,180 sf RM1,300
Today Room In Apartment -NA- RM450
Today Room In Apartment -NA- RM210
Today Room In Apartment -NA- RM500
Today House -NA- RM350
Today Semi-Detached -NA- RM350