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
Georgetown
UNESCO heritage core — culture, food, and the Komtar LRT interchange.
Condo PSF
RM 740–1810
Active projects
4
What is the average PSF in Georgetown in 2026?
Most condos in Georgetown are priced at roughly RM740–1810 per sq ft in 2026, based on asking and launch prices across the condo projects we track in the area. These are asking prices, not transacted prices.
- Condo PSF rangeRM 740–1810
Character
Penang Island's historic and commercial heart. Heritage shophouse district overlays modern condo developments; the future Komtar LRT station anchors long-term value.
Lifestyle scorecard
Zac's honest 1–10 rating across the dimensions buyers care about most.
✅ Pros
- Komtar LRT station (target opening December 2031)
- Heritage character + cultural depth
- Strong STR demand from heritage tourism
⚠️ Cons
- STR licensing tightening
- Older stock means renovation budgets matter
- Traffic congestion during peak hours
Transaction benchmark
August 2024 - June 2025 (specific Sri York project); locality aggregate not cleanly surfacedCondo PSF (low)
RM null
Condo PSF (high)
RM null
Sample
Project-specific only; locality 'George Town' aggregate not surfaced as a clean single figure in available snippets
George Town is a large locality (UNESCO core plus surrounding wards). Verifiable project-level anchors inside George Town: Sri York Condominium median RM591/sf, RM589,000 across 8 transactions Aug-2024 to Jun-2025; Birch Regency @ Penang Times Square median RM480,000 (RM438/sf) across 7 transactions Nov-2024 to Oct-2025; Birch The Plaza current listing band RM524-RM814/sf. State-wide Penang median is RM360,000 / RM376/sf per Brickz general snippet — use only as floor context.
Sources
For unit-by-unit recent transactions on any specific Georgetown project, ask Zac for the latest →
📈 What to watch over the next 3 years
Verifiable upcoming events from named, dated announcements — not price speculation.
- Soori Penang, a 15-suite luxury boutique hotel restoration of shophouses within the Khoo Kongsi compound by SCDA architect Soo K. Chan, opened January 2026 — a high-profile UNESCO-zone hospitality anchor that reinforces the heritage-tourism positioning of George Town's core.
- Penang's island-wide short-term rental (Airbnb/STR) ban remains in force: all private residential STRs banned; only six commercial categories (serviced apartment, SoHo, SoFo, SoVo, office suite, duplex office) permitted, capped at 3 days/week or 180 days/year, requiring 75% JMB/MC approval. This continues to compress STR yields and shift demand to long-term rental in George Town through 2027.
- The Mutiara LRT Line will have Bandar Sri Pinang, Macallum and Komtar stations in George Town, with Komtar the main interchange before the line crosses the strait to Penang Sentral. The Mutiara Line (29.5 km, 22 stations) runs from Silicon Island past the airport and FIZ, through Bayan Baru, Gelugor and Jelutong to Komtar, then across the strait to Penang Sentral in Butterworth. Construction began on 11 January 2025, with opening targeted for December 2031.
Sources (7)
- hospitalitynet.org/announcement/41013141.html
- www.afar.com/hotels/soori-penang-opens-in-george-town-malaysia
- www.tatlerasia.com/homes/architecture-design/soori-penang-george-town-boutique-hotel-khoo-kongsi
- www.freemalaysiatoday.com/category/nation/2023/05/25/penang-bans-almost-all-short-term-rentals-on-the-island
- en.wikipedia.org/wiki/Mutiara_line
- laluanmutiara.mymrt.com.my/lrt-mutiara-line
- www.malaymail.com/news/malaysia/2025/10/02/penang-lrt-mutiara-line-major-traffic-diversion-in-bayan-lepas-to-start-in-early-2026/193135
Every project in Georgetown, priced
All 9 tracked projects — 4 selling, 5 trading sub-sale. Rendered from our project records, so a correction updates this table everywhere it appears.
4 of 9 tracked projects are currently selling, alongside 5 trading sub-sale.
Selling now
| Project | Price | PSF | Tenure | Land title | Built | Status |
|---|---|---|---|---|---|---|
| Scott @ Logan | RM436K–RM962K | 1290 | Freehold | confirm | 2028 | selling |
| G'Vinton | RM596K–RM2.22M | 1500 | Freehold | Commercial (HDA) | 2028 | selling |
| Noordinz Suites | RM627K–RM956K | — | Freehold | Commercial (HDA) | 2027 | selling |
| Lumina Residence | RM1.03M–RM2.1M | 850–956 | Freehold | Residential | 2027 | selling |
Sub-sale — 5 projects
| Project | Price | PSF | Tenure | Land title | Built | Status |
|---|---|---|---|---|---|---|
| Mansion One | RM550K–RM1.12M | 701–1091 | Freehold | confirm | 2014 | sub-sale |
| Tropicana 218 Macalister | RM580K–RM1.75M | 1100–1600 | Freehold | Commercial | 2018 | sub-sale |
| 22 Macalisterz | RM580K–RM750K | — | Freehold | Commercial | 2025 | sub-sale |
| Beacon Executive Suites | RM700K–RM850K | 743–837 | Freehold | confirm | 2019 | sub-sale |
| Shorefront Residences | RM2.18M–RM3.3M | — | Freehold | Residential | 2018 | sub-sale |
Price bands
Foreign buyers
5 of 9 have at least one unit clearing the island minimum (RM1M strata, RM3M landed). 4 do not: Beacon Executive Suites, Noordinz Suites, Scott @ Logan, 22 Macalisterz. The threshold depends on property type, not title class.
Title & tenure
- 4 on commercial title — lower LTV ceiling, commercial utility and quit-rent tariffs: G'Vinton, Noordinz Suites, Tropicana 218 Macalister, 22 Macalisterz.
- 3 have no land title on record. Confirm it in writing before committing — it changes your financing.
Narrow it down
Filtered views of Georgetown stock — each one a live list, not a static page.
Projects in Georgetown
4 selling · 0 upcoming · 5 completed
Selling now & under construction
More on Georgetown
Guides and comparisons specific to this area.
Hero photo: Wikimedia Commons contributor · CC-BY-SA-4.0
Sources & data gaps (4)
Honest list of what couldn't be verified from public sources for this area (research completed 2026-06-24). These need Zac's direct input.
- •No clean locality-aggregate Brickz median surfaced for 'George Town' as a whole; project-level anchors used.
- •Reddit r/penang and Lowyat 'Georgetown heritage' searches returned no usable on-topic threads with substantive buyer questions.
- •No quantitative tourist-footfall congestion index.
- •Condo PSF band is the range of PROJECT MEDIAN asking PSF across 3 verified sub-sale projects (Aug 2026) — a typical-unit band, not the absolute min-max of every listing, so it stays usable for area-vs-area comparison.