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 LRT terminus.
Condo PSF
RM 764–1507
Avg Yield
4%
Avg Rent (condo)
RM 2,500
Active projects
4
What is the average PSF in Georgetown in 2026?
The average condo PSF in Georgetown is roughly RM764–1507 as of 2026, based on NAPIC/Brickz-checked benchmarks for the area.
- Condo PSF rangeRM 764–1507
- Gross rental yield4%
- Avg. condo rentRM 2,500/mo
Character
Penang Island's historic and commercial heart. Heritage shophouse district overlays modern condo developments; the future LRT KOMTAR terminus anchors long-term value.
Lifestyle scorecard
Zac's honest 1–10 rating across the dimensions buyers care about most.
✅ Pros
- LRT KOMTAR terminus planned 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.
- Mutiara LRT Line will terminate at KOMTAR (S20) inside George Town, with Macallum (S21) further west — the closest stations are S17 Sungai Pinang / S18 Solok Sungai Pinang / S19 Jalan Gurdwara for the eastern half of George Town. Line completion December 2031; major Bayan Lepas traffic diversions already underway from early 2026.
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 | 1290 | Freehold | confirm | 2028 | selling |
| G'Vinton | RM596K–RM2.22M | 1500 | Freehold | Commercial (HDA) | 2028 | selling |
| Noordinz Suites | RM683K | 1811 | 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 |
|---|---|---|---|---|---|---|
| Ladison Residence | RM500K | — | Freehold | confirm | 2024 | sub-sale |
| Tropicana 218 Macalister | RM580K–RM1.75M | 1095–1604 | Freehold | Commercial | 2018 | sub-sale |
| 22 Macalisterz | RM580K–RM750K | 1408–1706 | Freehold | Commercial | 2025 | sub-sale |
| Beacon Executive Suites | RM730K–RM799K | 745–815 | Freehold | confirm | 2019 | sub-sale |
| Shorefront Residences | RM2.75M–RM3.3M | — | Freehold | Residential | 2018 | sub-sale |
Price bands
Foreign buyers
6 of 9 have at least one unit clearing the RM1M island minimum. 2 do not: Beacon Executive Suites, 22 Macalisterz. One has no recorded ceiling and an entry below the floor — confirm whether a larger unit qualifies: Ladison Residence. The threshold never varies by 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.