Penang · Completed projects · Foreign-buyer rules
Penang property
Penang mixes an island of established, high-priced neighbourhoods with a mainland, Seberang Perai, where new townships sell at roughly half the island price per square foot. The six completed projects below run from mainland family homes near RM500,000 to Gurney Drive towers above RM4 million. Foreign buyers face higher minimum prices and a state levy on the island.
Jason Lim · REN 84424 · IQI Realty Sdn. Bhd. E (1) 1584/6. My registration covers the whole of Malaysia.
Completed projects
Penang projects worth knowing
Completed buildings only, so you can view the actual unit before you pay. New launches are added once they hold an advertising permit and developer licence.
Tanjung Bungah
Alila2
Freehold, 270 large units on 9.8 hillside acres, completed 2018. Recorded median about RM1,184 psf.
Space and greenery · Large freehold homes
Completed
Facts and buying guide →
📷 6Bandar Cassia, Simpang Ampat
Anggun Residences
496 homes in one 35-storey tower in Bandar Cassia by Design Village. Asking RM518k–580k; rents about RM1,650–2,350 (Oct 2026).
Next to the industrial parks · A park at the door
Completed1 km to the Second Bridge
Facts and buying guide →
📷 8Prai, Seberang Perai
GEM Residences
978 freehold serviced apartments in Prai by Belleview, 441–1,445 sq ft; asking RM428k–619k and rents of RM1,800–3,500 in Oct 2026.
Close to the Penang Bridge · Facilities on two levels
Completed4 km to the Penang Bridge
Facts and buying guide →
📷 6Bukit Tambun, Simpang Ampat
Royale Heights @ Tambun Royale City
145 freehold bungalows, zero-lot bungalows and 3-storey terraces at Tambun Royale City. Asking from about RM588,000 (Oct 2026).
Room to spread out · Highway and bridge access
Completed
Facts and buying guide →
📷 6Alma, Bukit Mertajam
Sky @ TriPark
Three condominium towers of 560 homes at TriPark, Alma. Transacted median about RM411 psf; asking from RM460,000, rents from RM1,450.
Daily needs within 2 km · A long facilities list
Completed1.2 km to AEON
Facts and buying guide →
📷 6Taman Seri Bukit Indah, Bukit Mertajam
The Retreat Condominium
A single 27-storey freehold block of about 110 three-bedroom homes in Bukit Mertajam. Asking from RM360k; rents from RM1,800 (Oct 2026).
A hill park behind · Low density
Completed
Facts and buying guide →
📷 3Tanjung Tokong
The Tamarind
Freehold, 1,104 three-bedroom units near Straits Quay, completed 2019. Recorded median about RM780 psf.
A walk to the seafront · Three bedrooms in every unit
Completed
Facts and buying guide →
📷 3Seri Tanjung Pinang, Tanjung Tokong
Quayside Seafront Resort Condominium
Freehold seafront condominium by E&O on 21 acres, completed 2013. Recorded median about RM1,052 psf.
Seafront promenade to Straits Quay · Grounds rather than a podium
Completed
Facts and buying guide →
Jalan Macalister, George Town
Tropicana 218 Macalister
299 suites and serviced residences above a Courtyard by Marriott on Jalan Macalister, completed 2018. Recorded median about RM1,065 psf.
Central George Town · Hotel and heritage on site
Completed
Facts and buying guide →
Batu Ferringhi
Moonlight Bay
Freehold hillside villas and condominiums in Batu Ferringhi, completed 2010. Condo units listed at about RM1.25–1.58 million.
Resort-style grounds · Beach and school nearby
Completed
Facts and buying guide →
Sungai Ara, Bayan Lepas
The Clovers
Freehold, three 42-storey blocks in Sungai Ara, completed 2017. Recorded median about RM466 psf, about 3 km from the airport.
Close to the airport and the FIZ · Freehold at a mid-market price
Completed~3.1 km to Penang airport
Facts and buying guide →
Sunway Wellesley, Bukit Mertajam
Sunway Wellesley Garden Villas
Freehold, 214 gated three-storey townhomes and semi-Ds in Bukit Mertajam, completed 2016. Townhomes asked RM520,000–650,000 in Oct 2026.
Gated and guarded · Parks inside the gate
Completed
Facts and buying guide →
Aspen Vision City, Batu Kawan
Vivo Executive Apartment
Freehold, 1,530 units of 730–830 sq ft beside IKEA Batu Kawan, completed 2023. Asking about RM335,000–520,000 in Oct 2026.
At the foot of the Second Bridge · IKEA and Klippa next door
Completed<0.5 km to the Second Penang Bridge
Facts and buying guide →
Batu Ferringhi
Ferringhi Residence
Freehold, 210 low-rise condo villa units near the beach, completed 2016. Asking from about RM670,000.
Beach and resort strip close by · Near an international school
Completed~1 km to the beach
Facts and buying guide →
📷 6Mount Erskine, Tanjung Tokong
Mont Residence
Freehold, 473 units in two 38-storey towers, completed 2018. Recorded median about RM753 psf.
Close to the north-east coast · Practical layouts
Completed
Facts and buying guide →
Gelugor
Arte S
Freehold serviced apartments near USM, completed 2018. Listed from about RM480,000.
Near USM and the bridge · Freehold below RM1 million
Completed5.1 km to Penang Bridge
Facts and buying guide →
📷 7Gurney Drive
Setia V Residences
Freehold, two towers off Gurney Drive, completed 2017. Large units with a recorded median of about RM1,475 psf.
A Gurney Drive address · Few homes per floor
Completed< 1 km to Gurney Plaza
Facts and buying guide →
Gurney, George Town
Gurney Paragon Residences
Freehold, 264 large units in two 43-storey towers by Gurney Paragon Mall, completed 2010. Recorded median about RM943 psf.
Gurney on foot · Few neighbours per floor
Completed
Facts and buying guide →
The Light Waterfront, Gelugor
The Light Linear
Freehold, 328 three-bedroom units in IJM’s The Light Waterfront, completed 2012. Recorded median about RM700 psf.
Part of The Light Waterfront · Three bedrooms throughout
Completed
Facts and buying guide →
Tanjung Bungah
Infinity
Freehold, 119 large seafront units in two towers, completed 2009. Recorded median about RM807 psf.
On the seafront · Space and privacy
Completed
Facts and buying guide →
Farlim, Air Itam
All Seasons Park
Freehold, 808 units in four towers near the Air Itam bus hub, completed 2013. Asking about RM486–587 psf.
Schools within walking range · Bus hub and Penang Hill nearby
Completed
Facts and buying guide →Bayan Lepas
Queens Residences Q2
Freehold seafront tower opposite Queensbay Mall, completed 2022. Recorded median about RM1,136 psf.
Opposite Queensbay Mall · Close to the jobs
Completed8 km to the airport
Facts and buying guide →Batu Kawan
Vertu Resort
Freehold, 1,282 family units in Aspen Vision City, completed 2020. Recorded median about RM512 psf.
Freehold at mainland prices · Bridge and industry nearby
Completed4.2 km to the Second Penang Bridge
Facts and buying guide →Bayan Indah, Bayan Lepas
Tropicana Bay Residences
Freehold, first phase of Penang World City in Bayan Indah, completed 2017. Recorded median about RM665 psf.
Between the two bridges · A long facilities list
Completed
Facts and buying guide →Bayan City, Bayan Baru
Elit Heights
Freehold on commercial title, 600 units in three towers in Bayan Baru, completed 2014. Asking about RM367–602 psf.
Near the jobs · Daily needs close by
Completed~8.7 km to the Penang Bridge
Facts and buying guide →Bayan Indah, Bayan Lepas
Summerton Condominium
Large 3+1 and 4+1-bedroom homes near Queensbay Mall, completed 2014. Recorded median about RM468 psf.
Queensbay on the doorstep · Large homes
Completed~5 min to the Penang Bridge
Facts and buying guide →Where to look
Penang by area
| Area | What it is known for |
|---|---|
| George Town and Gurney Drive | The UNESCO-listed heritage city and the seafront Gurney strip, with the island’s priciest condominiums and its main malls. |
| Tanjung Tokong and Seri Tanjung Pinang | A planned seafront township around Straits Quay, popular with families and expatriates. |
| Tanjung Bungah | Hillside and seafront condominiums on the north coast, quieter and further from town, with international schools in the area. |
| Gelugor and Bukit Gambier | The university belt around Universiti Sains Malaysia, close to the Penang Bridge. |
| Bayan Lepas and Batu Maung | The south of the island, home to the Free Industrial Zone, the airport and Queensbay Mall. |
| Seberang Perai (Batu Kawan, Bukit Mertajam) | The mainland. Batu Kawan is a newer township by the Second Penang Bridge with IKEA and an industrial park; prices are well below the island. |
Listings
Units for sale and rent in Penang, by budget
Current listings shared by IQI agents, refreshed regularly. Pick a budget to see what is on the market now, then WhatsApp me to arrange viewings.
Foreign buyers
The rules for foreigners buying in Penang
Penang has its own rules, set by the state. Confirm the current position with a lawyer in Penang before you pay a booking fee.
| Rule | What it means |
|---|---|
| Minimum price, island strata: RM1 million | Foreign individuals and companies may buy a condominium or serviced apartment on Penang Island only at RM1 million or more (state guideline, in force since 1 July 2012). |
| Minimum price, island landed: RM3 million | Landed homes and landed strata on the island need a price of RM3 million or more, for sale agreements from 1 April 2017. |
| Minimum price, Seberang Perai strata: RM500,000 | On the mainland the strata minimum for foreign buyers is RM500,000 from 28 April 2017. For mainland landed homes, press reports (2017–2019) give RM1 million; confirm with your lawyer. |
| MM2H and permanent residents | Under the state guideline, MM2H participants may buy from RM500,000 (residential only, up to two units) and permanent residents from RM250,000. |
| State consent from PTG Pulau Pinang | Every purchase by a foreigner needs State Authority consent, applied for through your lawyer at the Penang Land and Mines Office (Pejabat Tanah dan Galian). |
| State levy: 3% of the price | The approval levy is 3% of the purchase price, except island strata homes priced from RM1 million to RM1.5 million, which pay 1.5%. It must be paid within 30 days of the approval letter. |
| Three-year hold | A foreign owner may resell only after three years from the date of the sale and purchase agreement. |
| 8% stamp duty on homes from 1 January 2026 | Federal rule: transfers of residential property to non-citizens and foreign companies (not permanent residents) pay a flat 8% stamp duty, up from 4%. |
| Land law: National Land Code | Penang is a Peninsular state, so the National Land Code 1965 applies. Penang has no Malay Reservation Enactment, but Bumiputera-quota, low-cost and affordable units are not open to foreign buyers. |
| Campaign discounts have ended | The lower thresholds under the federal Home Ownership Campaign (HOC 3.0 Plus) ended on 31 December 2024; purchases from 1 January 2025 follow the guideline above. |
Compare
Penang or Johor Bahru?
| Penang | Johor Bahru | |
|---|---|---|
| Foreign minimum, strata | RM1 million on the island; RM500,000 in Seberang Perai | RM1 million |
| Foreign minimum, landed | RM3 million on the island | RM1 million |
| State charge for foreign buyers | Levy of 3% of the price (1.5% for island strata at RM1m–1.5m) | State consent fee, quoted by your lawyer |
| Stamp duty on transfer (foreign buyer) | Flat 8% from 1 January 2026 | Flat 8% from 1 January 2026 |
A summary, not a forecast. See Johor Bahru projects and Kuala Lumpur projects.
Buying, selling or renting
The steps and costs
Stamp duty, legal fees and RPGT are federal and work the same in Penang as elsewhere in Malaysia. Read buying a subsale property, selling your property and renting out a property, and use the buying costs calculator for your own numbers. Foreign-buyer rules are the part that differs by state, so they are set out above.
Straight answers
Penang property: frequently asked questions
Can foreigners buy property in Penang?
Yes, with state consent. On the island the minimum is RM1 million for a condominium and RM3 million for a landed home; in Seberang Perai the strata minimum is RM500,000. A state levy of 3% of the price applies (1.5% for island strata between RM1 million and RM1.5 million), plus 8% stamp duty on homes from 2026.
Is the mainland cheaper than the island?
Yes. The completed projects we track on the mainland trade at around RM500 psf, against roughly RM780 to RM1,475 psf for the island projects on this page (EdgeProp, October 2026).
Bolehkah warga asing membeli hartanah di Pulau Pinang?
Boleh, dengan kebenaran Pihak Berkuasa Negeri. Di pulau, harga minimum ialah RM1 juta untuk hartanah strata dan RM3 juta untuk hartanah bertanah; di Seberang Perai RM500,000 untuk strata. Levi negeri ialah 3% daripada harga (1.5% untuk strata di pulau antara RM1 juta dan RM1.5 juta).
外国人在槟城买房有什么条件？
须获得州政府批准。槟城岛分层地契住宅最低RM100万，有地住宅最低RM300万；威省分层住宅最低RM50万。州政府征收房价3%的费用（岛上RM100万至RM150万的分层住宅为1.5%），2026年起转让印花税为8%，购买后须持有满三年才能转售。
Looking at Penang? Get a shortlist that fits your goal.
Tell me your budget, whether you will live in the unit or rent it out, and the area you prefer. I will reply on WhatsApp with suitable projects, recent recorded prices and the full cost.