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
TodayCondominium1,033 sfRM870,000
TodayCondominium1,313 sfRM885,000
TodayCondominium657 sfRM260,000
TodayLow-Cost Flat657 sfRM230,000
TodayCondominium850 sfRM320,000
TodayCondominium1,000 sfRM490,000
TodayCondominium721 sfRM280,000
TodayCondominium700 sfRM220,000
TodayTownhouse1,166 sfRM560,000
TodayCondominium1,137 sfRM950,000

Latest Penang for rent listings:

DateTypeBuilt-upRental
TodayCondominium600 sfRM1,200
TodayCondominium500 sfRM1,150
TodayRoom In Apartment-NA-RM460
TodayRoom In Apartment-NA-RM520
TodayRoom In Apartment-NA-RM480
TodayRoom In Apartment-NA-RM690
TodayApartment680 sfRM1,350
TodayRoom In House-NA-RM700
TodayCondominium1,354 sfRM1,200
TodayRoom In House-NA-RM500
50 user comments on Penang
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Lowyat
24 Jul 2015 @ 9:47 AM

100+ units sold. Not hot as per EW standard. I think they overpriced. Investors who are not familiar with Penang better drive to paya terubong to understand the environment. Quite challenging, this location makes semenyih look good.

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Lowyat
24 Jul 2015 @ 10:32 AM

Over expensive at Paya Terubong.
I am penangite.

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Google
27 Apr 2017 @ 12:00 AM

Large condominiums, not the greatest layout but the sweeping views of Penang harbour from the bridge to Straits Quay are amazing

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Google
28 Apr 2017 @ 12:00 AM

I think some of the tenants rented the units resulting in some of them parking their cars by the roadside. It has a tennis court. The garden's water feature looks abandon. Walking distance from a natural beach. Quiet place.

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Google
29 Apr 2017 @ 12:00 AM

High end large condo with swimming pool at every level.

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Google
6 May 2017 @ 12:00 AM

Serene & tranquility residential but it's a bit eerie to go at night from the main road as you had to go through quite a dark road.

However, the lush greenery surrounding the apartment and a good seaview makes this area worthwhile to visit

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Google
10 Jun 2017 @ 2:00 PM

They simply charge the parking fee without follow the rate and no receipt given. I ask why six dollar cos the rate only 3.
The guard shout at me "who ask you to park here!"
Nonsense!

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Google
17 Apr 2018 @ 12:00 AM

Terrible maintenance. When something breaks down, all management does is put up a stupid sign, and that's the end of it. Nothing gets repaired. Management known to embezzle funds.

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Google
21 Apr 2018 @ 12:00 AM

One of the early high rise condominium along Gurney Drive but the facilities are still very well maintained. Nice sea view from high floors

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Google
24 Apr 2018 @ 12:00 AM

Apartment with old facility but good maintenance. Many old people live here. Some floor is rent for patient from loh guan lye hospital.

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Google
25 Apr 2018 @ 12:00 AM

Difficult to get parking.

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Google
28 Apr 2018 @ 12:00 AM

The place look haunted. The parking place is not maintain well. It is quite dirty as well. Need proper maintenance.

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Google
5 May 2018 @ 12:00 AM

Good location , good management, old type building alas facing several decay issues. Lifts not the best.

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Google
6 May 2018 @ 12:00 AM

There is no a/c in the gym which makes it difficult to use the gym most months of the year. The pool is broken and we keep getting different answers about when it will be fixed. The intercom system hasn't worked for more than a year and again different answers from different people. The new cleaning service is very poor, doesn't clean everyday and the place is dirty a lot of the time.

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Google
6 May 2018 @ 12:00 AM

Lovely views from the balconies of the beach and the sea. Feels very clean. Decent location, 10-15 minute drive to Penang center and a fair few places to eat in walkable distance. Nice pool area and feels very secure. It's a very quiet area, if you make any noise expect many noise complaints.

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Google
6 May 2018 @ 12:00 AM

Great majectic view condo situated on a high hill.
However from the recent massive landslide and building collapse tragedy right infront of this building, u may want to consider twice staying or investing there.
Possible of underground river passing through.

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Google
10 Aug 2018 @ 12:00 AM

The residence building is new but a bit too far to the main road night market area. The road is dark, no street light at night make it dangerous to walk to the night market. You got to “Uber/Grab”, but sometimes difficult to find driver in this location.

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Google
21 Apr 2019 @ 12:00 AM

It’s been re-painting the outside of the building and more safety although no facilities in this apartment but the building is at centre of Georgetown. Go anywhere are so easy, great place to stay