Destinations / Malaysia / Penang
Penang, Malaysia
Data grade B: NAPIC official data Updated Oct 2026
George Town’s shophouse heritage plus seafront condos: island living with Malaysia’s best food.
On this page: What it buys · Where to look · All-in costs · Visas · Properties
Photo: Wikimedia Commons
asking price level
about $1,400-2,200/m2 (approx)
gross rental yield
4 to 5% approx
population
about 1.8 million (state)
climate
tropical: warm year-round
getting there
Penang airport (PEN)
Penang pairs a UNESCO old town of shophouses and street art with a seafront condo coast and what Malaysians themselves call the country’s best food. Retirees, remote workers and medical travellers have long made it home; the island’s foreign purchase floor (check the current state rules) keeps entry higher than the mainland but still gentle by island standards.
What your money buys here
Typical buys at each band, drawn from current local asking prices. Use the price per square metre in the bar above as your anchor: multiply it by the size you need and you will spot an overpriced listing in seconds. Figures are approximate, lean to the cautious side, and get refreshed as our data passes land.
$200k
Near the island floor: a large seafront condo in Tanjung Bungah
$350k
A premium 3-bed around Gurney or Tanjung Tokong
$500k
A luxury seafront address, or a George Town heritage shophouse project
Butterworth, Batu Kawan and Balik Pulau: the mainland side roughly halves the price, Balik Pulau is the island's green secret. Going one town over usually buys a size or quality upgrade on the same budget, and these smaller markets are where patient buyers find the mispriced gems. Fewer listings means more waiting, so set the alert and be ready to travel when the right one appears.
Kuala Lumpur flies nonstop to London and the Gulf and blankets Asia; Penang connects via KL or directly to Singapore and the region.
Listings open on partner portals. Some links may earn us a commission, always marked.
Where to look
1. George Town: the heritage grid, cafes in shophouses
2. Gurney and Tanjung Tokong: the seafront condo mile
3. Batu Ferringhi: the beach end of the island
All-in cost at $350k
Property price: $350,000
Stamp duty: tiered 1 to 4%
Legal fees: around 1%
State consent for foreign buyers: modest fees, some processing time
Rule of thumb: budget 4 to 7% on top
Each state sets a minimum purchase price for foreigners, commonly around RM 1 million (about $210,000); check the current floor for your target state. Figures approximate.
Visas and residency (most passports)
Digital nomad visa: Yes, the DE Rantau pass for remote tech and digital professionals.
Long stays: MM2H, the famous long-stay program, in tiers built around fixed deposits, with property purchase woven into the newer rules.
Visiting: 90 days visa-free for many passports.
Healthcare and insurance
Excellent private hospitals at some of Asia’s friendliest prices; Penang is a medical-tourism hub in its own right. Cover typically $70 to $250/month per adult.
Schools and family
A large English-medium international school sector in KL and Penang, typically $4,000 to $20,000/year.
Serious about Penang?
Talk it through with a relocation and buying advisor. Visas, timing and the buying process, in one call.
Sources: NAPIC transaction data, state land rules, MDEC DE Rantau and MM2H pages. Figures marked approx are indicative and verified in our monthly data pass. Guidance, not legal or financial advice.