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
TodayCondominium1,900 sfRM415,000
TodayCondominium1,182 sfRM734,900
TodayCondominium886 sfRM350,000
TodayCondominium925 sfRM610,000
TodayCondominium1,320 sfRM766,000
YesterdayIndustrial Land-NA-RM4,000,000
YesterdayCommercial Land-NA-RM22,650,000
YesterdayCommercial Land-NA-RM1,535,300
YesterdayCommercial Land-NA-RM6,838,300
YesterdayShop-Office2,700 sfRM680,000

Latest Penang for rent listings:

DateTypeBuilt-upRental
TodayRoom In Apartment-NA-RM300
TodayRoom In Apartment-NA-RM550
TodayRoom In Apartment-NA-RM300
TodayCondominium1,100 sfRM1,200
TodayCondominium700 sfRM1,100
TodayRoom In Apartment-NA-RM350
TodayRoom In Apartment-NA-RM500
TodayRoom In Apartment-NA-RM400
TodayRoom In Apartment-NA-RM400
TodayRoom In Apartment-NA-RM400