 Buying & Renting Properties in Penang
The property market in Penang is one of the hottest in Malaysia. Renting & Buying Property in Penang provides an overview of the property situation on the island which includes condominiums, apartments and flats on the island. Due to the high margin of variability, landed properties are not included in this valuation. The interactive map allows you to scroll, zoom in, zoom out, point and click to select property for viewing. Information provided includes size, height as in the number of storeys, the number of units, amount of maintenance fee, expected rental and the recommended selling price.
The property value shown is an approximation. Similarly, size, amount of maintenance and rental are all estimation according to prevaling market. Value refers to second-hand purchase price. Rental is monthly and refers to whole units, not individual rooms. To help you determine suitability of location, wet markets, supermarkets and traffic lights are also marked out.
Many visitors love Penang so much that they never want to leave. Others come here for more prosaic purposes - to work or to study. Whether you are here to work, to study or to retire, Penang Travel Tips is here to help you make sensible decisions in looking for a place to rent or buy. If you are a foreigner who wish to prolong your stay in Penang, find out about how you can benefit from the Malaysia My Second Home program.
Buying a home in Penang
Whether you come from overseas or the next state, one thing you have to accept if you wish to stay on Penang Island: most people in Penang live off the ground in some form of high rise building. This may range from a low-cost flat to a luxurious condominium. If you are looking to purchase a property, be aware that the median price of an average apartment in Penang costs as much as a landed property elsewhere in Malaysia. Most of the landed property in the suburbs were built 30-40 years ago, while town houses within George Town are at least 60 years old and may a lot of repair before they are habitable. There are still landed properties being built in Penang, usually on reclaimed land. These are palatial homes with seven-digit price tags.
Renting a home in Penang
It's a different story if you are renting: rental prices in Penang is quite attractive compared to Kuala Lumpur. Many people consider buying properties as a source of investment. In the medium-cost category, with rental price of RM400 to RM700, you are spoilt for choice with plenty to choose. If you want a luxurious condominium in a choice location, be prepared to pay a four-digit rental.
Renting a room in Penang
If you are just coming over to work or study, you may not even bother to rent a whole house. In this case, two criterias should be considered: price and location. Obviously, you want a room that is within your price range. It also has to be in a quiet neighborhood, so that you can get adequate rest at night (to sleep or to study).
Check out the property before deciding. If it is located near a temple, be aware that there may be temple festivals that are usually quite loud. Also, this being Penang, some festivals such as Thaipusam includes street processions that can cut access to your home or keep you confined over a period. To a lesser extend, the proximity of a mosque means the daily call of azan will be audible. Other sources of noise include schools, hospitals (ambulances rushing in and out) and fire brigades.
Having understood the real estate market in Penang, the next question is, where should you stay? To help you answer that question, read Where to Stay in Penang for tips on choosing the location for your home.
Apartments & Condominiums List
Here's a list of apartments and condominiums that we have documented.
Other Links
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Skyscrapers characterise the cityscape of George Town today.
Komtar is still the tallest building in Penang, twenty years after it was completed.
Penang Times Square, a major residential project coming up in George Town.
High rise buildings along Northam Road, a prime real estate location in Penang.
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