Penang, Malaysia

Penang is a state of Malaysia that is 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.

Penang consists of both the Penang Island and the mainland, Seberang Perai. Penang's capital city, Georgetown is a UNESCO World Heritage site together with Melaka. Penang has been named the Food Paradise of Asia because of its mouth-watering, diverse, and exotic mix of Malay, Chinese and Indian cuisine. It is one of the main items on the checklist of everyone that visits Penang. The locals converse in the Penang Hokkien dialect in the state. Even though Hokkien is a Chinese dialect, it is common in Penang for the people of different ethnicity to also use it in their daily communication.

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 residential 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.

Over the years, Penang has become a prominent tourist spot that attracts people from all around like ants to a pile of sugar. Penang's population density is also one of the highest in the nation which leads to a major problem of congested roads. In addition to the traffic that occured in tourist spots, the condition worsens before and after working hours where individuals would require to travel within as well as in and out of the island for work purposes. To address the issue, the Penang Transport Master Plan (PTMP) which costs about RM46 billion was introduced. The first phase of the project which includes the Pan Island Link 1 (PIL 1) highway, the Bayan Lepas light rail transit system (LRT) and a few major highways has been approved in November 2018. Property prices on the mainland are expected to rise with the help of the PTMP.

Latest Penang for sale listings:

DateTypeBuilt-upPrice
TodayApartment700 sfRM189,000
TodayCondominium1,023 sfRM370,000
TodayApartment700 sfRM158,000
TodaySemi-Detached1,350 sfRM306,000
TodayTerrace1,550 sfRM430,000
TodayCondominium2,314 sfRM2,200,000
TodayTerrace1,600 sfRM490,000
TodaySemi-Detached3,915 sfRM958,000
TodaySemi-Detached2,880 sfRM850,000
TodayCondominium1,250 sfRM720,000

Latest Penang for rent listings:

DateTypeBuilt-upRental
TodayHouse Room-NA-RM450
TodayMedium Room-NA-RM500
TodayCondominium2,600 sfRM3,500
TodayCondominium850 sfRM1,099
TodayLow-Cost Flat800 sfRM1,080
TodayShop-Office2,330 sfRM4,500
TodayMedium Room-NA-RM420
TodayMedium Room-NA-RM570
TodayCondominium1,565 sfRM1,250
TodayCondominium1,223 sfRM1,200
14 user comments on Penang
Joe
1 Aug 2019 @ 6:55 PM

Used to own a unit here, and the view from high floor was excellent. It was one of the tallest apartment in Penang.

Foods at hawker stall beside the road is not bad.

Parking lots are limited. Might have to park on the roadside if the household have more than one vehicle.

One of the favorites among USM expat students.

Beautiful place.. Love everything except for the rush hour jam.

Joe
10 Aug 2019 @ 12:56 PM

Management should probably do something about those half completed pillars on the top floor.

Parking system here is a nightmare... The density is so high to the point where people need to double-park anywhere possible and leave the handbrake loose in case the other person wants to leave the parking spot. So always need to choose between 'to block' or 'to be blocked'.

This area is located near the Durian Tunggal town. There are multiple double storey shop lots located here that provide amenities such as convenience stores, eateries, supermarkets, and wet markets.

Julianna
6 May 2020 @ 2:12 PM

Normally used for family vacation via agoda and booking. Visitors are usually Malays.

There are quite a number of the units here that are rented out as short stay homes. The peaceful nights of the residents here are occasionally disturbed by them.

Julianna
11 Aug 2020 @ 12:50 PM

This project is a failure. It has either been abandoned at the final stage or the houses has been wrecked. The houses have been left unattended with overgrown trees and plants. The number of units that are actually cared for can be counted with one hand.

Julianna
11 Aug 2020 @ 1:27 PM

Luxurious seaside property but there is a mosque beside it and it usually poses as a problem for light sleepers.

Youaskforfun
30 Nov 2020 @ 12:20 PM

Nearby 300m got big big chicken, river also overflow when raining.

May I know Taman Bukit Minyak near to Taman Sentul Jaya Juru ?