Data-quality note: 4 fields on this guide are unverified or pending Zac's direct input — see "Sources & gaps" at the bottom of this page for the full list.
Penang Island
Gelugor
Mid-island corridor anchored by USM and The Light City
Condo PSF
RM 480–1874
Avg Yield
5%
Avg Rent (condo)
RM 1,600
Active projects
6
What is the average PSF in Gelugor in 2026?
The average condo PSF in Gelugor is roughly RM480–1874 as of 2026, based on NAPIC/Brickz-checked benchmarks for the area.
- Condo PSF rangeRM 480–1874
- Gross rental yield5%
- Avg. condo rentRM 1,600/mo
Character
A functional mid-island suburb straddling Georgetown's southern edge and Bayan Lepas. Dominated by USM's sprawling campus and anchored at its northern tip by The Light City — a mixed-use waterfront precinct with hotel, retail mall, and the Mezzo condominiums. Away from The Light, the area is dense and workaday, with older apartments and walk-ups alongside newer medium-rise condos. Strong rental demand from USM students and staff keeps vacancy low.
Lifestyle scorecard
Zac's honest 1–10 rating across the dimensions buyers care about most.
✅ Pros
- Every active new launch is freehold — unusual for the southern island corridor
- Structural rental demand from USM — among the largest universities in Malaysia
- The Light City adds lifestyle infrastructure (hotel, mall, waterfront promenade)
- More affordable PSF than Georgetown or Gurney Drive
- Hospital USM on campus — attractive for healthcare tenants and families
- Quick access to Penang Sentral ferry terminal and Jelutong Expressway
⚠️ Cons
- Jalan Utama and Jalan Masjid Negeri traffic during morning and evening peaks
- Older housing stock in Gelugor proper; The Light area commands a notable PSF premium over surrounding condos
Transaction benchmark
Reference: PropertyGuru/iProperty asking prices (note: asking prices typically run 5–15% above transacted prices; use brickz.my for verified JPPH transaction data)Condo PSF (low)
RM 350
Condo PSF (high)
RM 650
Sample
Project-level anchors: Mezzo at The Light City (higher end, ~RM550–650/sf asking); Pearl Regency and Middleton Minden Heights (mid-range, ~RM350–480/sf asking). Verify transacted data at brickz.my.
NAPIC publishes only district-level (Timur Laut) data; no Gelugor-specific locality aggregate is available. Brickz.my aggregates JPPH transaction data at project level and is the closest verifiable public source for transacted PSF. Asking prices used here run 5–15% above transacted.
Sources
For unit-by-unit recent transactions on any specific Gelugor project, ask Zac for the latest →
📈 What to watch over the next 3 years
Verifiable upcoming events from named, dated announcements — not price speculation.
- Gelugor is NOT served by the funded Mutiara LRT alignment — the line runs along the island's southern corridor (Silicon Island – Airport – FIZ – Komtar – Penang Sentral). No LRT station within the suburb is planned for the current funded phase.
- The Light City continues to mature as a mixed-use precinct: the DoubleTree by Hilton hotel and The Light Waterfront Penang retail mall are operational, adding lifestyle amenity that gradually lifts the premium commanded by Mezzo and nearby condos over the Gelugor-proper mid-market.
- IJM Land's Merione Grand (upcoming) in the Minden Heights catchment signals continued developer confidence in the mid-island corridor; monitor launch pricing as a PSF benchmark update for the area.
- USM's role as a research university anchors steady mid-tier rental demand; any significant campus expansion or student-intake growth would tighten vacancy further for sub-RM2,000/month units.
Every project in Gelugor, priced
All 12 tracked projects — 6 selling, 6 trading sub-sale. Rendered from our project records, so a correction updates this table everywhere it appears.
6 of 12 tracked projects are currently selling, alongside 6 trading sub-sale.
Selling now
| Project | Price | PSF | Tenure | Land title | Built | Status |
|---|---|---|---|---|---|---|
| Merione Grand | RM693K | 1090 | Freehold | Commercial | 2028 | selling |
| STARK Tower | RM700K | — | Freehold | Commercial | 2028 | selling |
| Keeperz Suites | RM844K | 1744 | Freehold | Commercial | 2030 | selling |
| The Lighthauz | RM890K | — | Freehold | Commercial (HDA) | — | selling |
| Merione Residences | RM1.42M | 1350 | Freehold | confirm | 2029 | selling |
| Lightwater Residences | RM2.05M–RM3.52M | — | Freehold | Residential | 2028 | selling |
Sub-sale — 6 projects
| Project | Price | PSF | Tenure | Land title | Built | Status |
|---|---|---|---|---|---|---|
| Zen6 | RM550K | 524 | Freehold | confirm | 2023 | sub-sale |
| Pearl Regency | RM723K | 550–600 | Freehold | confirm | 2014 | sub-sale |
| Middleton @ Minden Heights | RM861K | 615–863 | Freehold | confirm | 2019 | sub-sale |
| Mezzo @ The Light City | RM900K–RM1.4M | 850–1080 | Freehold | Residential | 2025 | sub-sale |
| The Light Collection IV | RM1.73M–RM9.5M | 722–1144 | Freehold | confirm | 2017 | sub-sale |
| Vilaris Courtyard Homes | RM1.99M–RM3.5M | 482 | Freehold | Residential | 2016 | sub-sale |
Price bands
Foreign buyers
8 of 12 have at least one unit clearing the RM1M island minimum. One does not: Pearl Regency. 3 have no recorded ceiling and an entry below the floor — confirm whether a larger unit qualifies: STARK Tower, The Lighthauz, Zen6. The threshold never varies by title class.
Title & tenure
- 4 on commercial title — lower LTV ceiling, commercial utility and quit-rent tariffs: Keeperz Suites, Merione Grand, STARK Tower, The Lighthauz.
- 5 have no land title on record. Confirm it in writing before committing — it changes your financing.
Narrow it down
Filtered views of Gelugor stock — each one a live list, not a static page.
Projects in Gelugor
6 selling · 0 upcoming · 6 completed
Selling now & under construction
More on Gelugor
Guides and comparisons specific to this area.
Hero photo: Wikimedia Commons contributor (verify exact uploader on file page) · CC-BY-SA-4.0 (verify on file page before use)
Sources & data gaps (4)
Honest list of what couldn't be verified from public sources for this area (research completed 2026-06-25). These need Zac's direct input.
- •No Gelugor-specific Brickz locality median surfaced; project-level asking prices used as proxy — verify at brickz.my.
- •Merione Grand (IJM Land) launch pricing not yet published — monitor for PSF benchmark update.
- •No quantitative traffic congestion index for Jalan Utama corridor.
- •No expat or MM2H concentration data at postcode level.