Penang · Area guide
George Town, Gurney & Air Itam property
Penang’s capital and its seafront: the UNESCO-listed heritage core, the condominium strip along Gurney Drive, and the hillside suburbs of Air Itam and Farlim below Penang Hill and Kek Lok Si.
4 projects on this site
Projects in George Town, Gurney & Air Itam
Each has its own page with layouts, facilities, recorded prices and rents, and the rules for foreign buyers.
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 →
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 →
📷 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 →
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 →The numbers
Prices and rents in George Town, Gurney & Air Itam
One line per project, as cited on its page: recorded transactions where published, otherwise asking prices, with the source and date.
| Project | Tenure | Completed | Price | Rent |
|---|---|---|---|---|
| All Seasons Park | Freehold | 2013 | RM470,000–670,000 · RM487–589 psf (10 sales) PropertyGuru building page, viewed Oct 2026 | About RM1,300–2,800 a month, most RM1,500–2,300 PropertyGuru listings, Sep–Oct 2026 |
| Gurney Paragon Residences | Freehold | 2010 | RM943 psf · typical RM826–1,115 psf EdgeProp, viewed 5 Oct 2026 | From about RM6,500–7,000 a month; a 4+1-bed 4,650 sq ft unit asks RM10,000 PropertyGuru and iProperty, Sep–Oct 2026 |
| Setia V Residences | Freehold | 2017 | RM1,475 psf · typical RM1,280–1,519 psf EdgeProp, viewed 2 Oct 2026 | About RM4,500–8,500 a month iProperty and PropertyGuru listings, Oct 2026 |
| Tropicana 218 Macalister | Freehold | 2018 | RM1,065 psf · typical RM997–1,180 psf EdgeProp, viewed 5 Oct 2026 | From about RM2,000 a month iProperty building page, Oct 2026 |
Figures and sources as shown on each project page, checked October 2026. Asking prices are what owners want, not what units sold for.
Living here
What to know about George Town, Gurney & Air Itam
Getting around
Rapid Penang buses run from Komtar and Weld Quay across the island, but most residents drive. The Penang Hill funicular starts at Air Itam.
Everyday life
Gurney Plaza and Gurney Paragon, Komtar, the shophouses and food streets of George Town, and the Air Itam market.
Before you buy
Heritage-zone rules limit what can be built in the core, and many older blocks along Gurney need repairs. Check the building’s age, the sinking fund and the parking before you agree a price.
Foreign buyers
The Penang rules that apply in George Town, Gurney & Air Itam
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.
Summary of the state rules on the Penang property page. Confirm the current position with your lawyer. See also Can a foreigner buy it?
Straight answers
Frequently asked questions
Which projects in George Town, Gurney & Air Itam are freehold?
On this site: All Seasons Park, Gurney Paragon Residences, Setia V Residences, Tropicana 218 Macalister. For the others, the title is leasehold or not confirmed; check the tenure and the years remaining on the title before you buy.
Can a foreigner buy property in George Town, Gurney & Air Itam?
Yes, subject to the Penang rules: Minimum price, island strata: RM1 million; Minimum price, island landed: RM3 million. State consent is needed and stamp duty for foreigners buying a home is 8% from 1 January 2026.
What do units in George Town, Gurney & Air Itam rent for?
Examples from the project pages: All Seasons Park: About RM1,300–2,800 a month, most RM1,500–2,300 (PropertyGuru listings, Sep–Oct 2026); Gurney Paragon Residences: From about RM6,500–7,000 a month; a 4+1-bed 4,650 sq ft unit asks RM10,000 (PropertyGuru and iProperty, Sep–Oct 2026); Setia V Residences: About RM4,500–8,500 a month (iProperty and PropertyGuru listings, Oct 2026); Tropicana 218 Macalister: From about RM2,000 a month (iProperty building page, Oct 2026).
Can you find me a unit in George Town, Gurney & Air Itam?
Yes. Send me your budget, size and timing on WhatsApp and I will shortlist units across the IQI network, with recorded prices for each building.
Looking in George Town, Gurney & Air Itam?
Tell me your budget, size and timing. I will send a shortlist with recorded prices and rents for each building.