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
TodayTownhouse1,001 sfRM226,800
TodayCondominium1,200 sfRM580,000
TodayTerrace-NA-RM630,000
TodayTerrace2,000 sfRM598,000
TodayShop-Office2,516 sfRM1,440,000
TodayShop-Office1,292 sfRM300,000
TodayCondominium1,113 sfRM540,000
TodayCondominium404 sfRM445,000
TodayShop-Office2,385 sfRM388,800
TodayTerrace-NA-RM550,000

Latest Penang for rent listings:

DateTypeBuilt-upRental
TodayCondominium1,100 sfRM1,450
TodayCondominium1,250 sfRM1,500
TodayCondominium1,000 sfRM1,600
TodayCondominium700 sfRM950
TodayRoom In Apartment-NA-RM400
TodayRoom-NA-RM450
TodayRoom-NA-RM450
TodayCondominium1,200 sfRM1,500
TodayCondominium1,200 sfRM1,400
TodayCondominium1,000 sfRM2,000

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