Requirements for Foreigners to Buy Properties in Penang
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To curb speculative pressures on the property prices in Penang, the Penang State Government has put in place specific requirements on foreign purchase of landed and stratefied (that's to say, the condos) residential properties in Penang.
If you are a foreigner to purchase residential property on Penang Island, do note that as of July 20181, you may only purchase landed properties costing RM3 million and above, and stratified units costing RM1 million and above.
To purchase on the Penang Mainland, the price is RM1 million and above for landed properties and RM500,000 and above for stratified properties.
Foreigner Property Purchase Requirement (22 September 2017)
If you are a foreigner to purchase residential property on Penang Island, do note that as of July 20181, you may only purchase landed properties costing RM3 million and above, and stratified units costing RM1 million and above.
To purchase on the Penang Mainland, the price is RM1 million and above for landed properties and RM500,000 and above for stratified properties.
Foreigner Property Purchase Requirement (22 September 2017)
References
- The Sun Daily 5 July, 2018: Penang govt introduces new ceiling price for foreign buyers
- Malay Mail 5 July, 2018: Penang govt introduces new floor price for foreign buyers
Return to the Penang Residential Property Guide
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