Of the ~30 active Penang new launches I'm tracking heading into H2 2026, six are worth your shortlist depending on budget and intent — Crown Penang (premium freehold (commercial HDA title), Tanjung Tokong), MeriOne Residences (freehold, The Light area, Gelugor), Everine @ Eco Sun (family G&G, mainland), W Residence Gurney Bay (branded premium, Gurney), Queens Residences Q3 (Queensbay waterfront), and select Batu Kawan landed in the RM600–900K band. Picked, not pitched. The PSF benchmarks below tell you what each area should cost so you can spot the units priced 15–25% above fair value before you sign.
Six new launches worth shortlisting in H2 2026, covering the main price bands: Crown Penang (Tanjung Tokong, freehold on commercial title, from RM704K), MeriOne Residences (Gelugor, The Light area, freehold, from RM1.58M), Everine @ Eco Sun (Batu Kawan, freehold landed, from RM815K), W Residence Gurney Bay (Gurney branded, from ~RM2.37M), Queens Residences Q3 (Queensbay), and select Batu Kawan landed at RM600-900K. Asking PSF on the active launches I track: Tanjung Tokong about RM700–1,000 (Eight & Eight, Crown Penang), Gurney Drive up to about RM1,700 nett (W Residence Gurney Bay), Bayan Lepas about RM430–1,300 (Lucerne and London Pavilion at the low end, SENZE @ PICC at the top), Georgetown about RM850–1,500, and Batu Kawan about RM430–710 where developers publish it. On the projects I track, new launches' starting psf runs roughly 10–20% above completed stock in the same area in several districts; anything well beyond that needs a genuine reason (branded residence, real LRT proximity, freehold scarcity). Commercial-title serviced apartments can apply for a short-stay licence under the 2026 by-law where island residential condos can't, but they carry commercial utility and quit-rent rates. Off-plan means buying at launch pricing with rebates and progressive payments, at the cost of locking up cash for 3-4 years during construction.
H2 2026 Penang New Launch Picks at a Glance
Direct answer: The six strongest Penang new launches in H2 2026 across the main price bands are Crown Penang (Tanjung Tokong, freehold, commercial title, from RM704K), MeriOne Residences (Gelugor, The Light area, freehold, from RM1.58M), Everine @ Eco Sun (Batu Kawan, freehold landed, from RM815K), W Residence Gurney Bay (Gurney branded premium, from RM2.37M), Queens Residences Q3 (Queensbay), and select Batu Kawan landed at RM600–900K. Fair PSF benchmarks (active new launches): Tanjung Tokong RM700–1,000, Bayan Lepas about RM430–1,300, Georgetown about RM850–1,500, Tanjung Bungah about RM965 (Waterstone entry unit), Batu Kawan about RM430–710.
| Project | Area | Title | PSF | Best For |
|---|---|---|---|---|
| Crown Penang | Tanjung Tokong | Freehold, Commercial-HDA | ~RM1,000 | Long-hold own-stay, foreign buyer |
| MeriOne Residences | Gelugor | Freehold | from RM1,578,000 | The Light area own-stay & investors |
| Everine @ Eco Sun | Batu Kawan | Freehold, Landed | RM426–572 | Family, value, more space |
| W Residence Gurney Bay | Gurney | Freehold, Commercial | Up to ~RM1,700 nett | Premium branded, MM2H Platinum |
| Queens Residences Q3 | Queensbay | Freehold, Residential | RM1,000+ | Waterfront-adjacent, integrated lifestyle |
| Batu Kawan landed (selected) | Batu Kawan | Freehold | n/a (RM600–900K) | Mainland family, value yield |
Fair PSF Benchmarks by Area (H2 2026)
New-launch PSF from our own tracked project data as at July 2026. We don't have an independently verified area-wide sub-sale median for direct comparison — use the Penang Price Index for the closest available benchmark, or ask Zac to pull comparable sub-sale transactions for your specific project.
| Area | Active New Launch PSF Range | Notes |
|---|---|---|
| Tanjung Tokong | RM700–1,000 | Two active launches: Crown Penang, Eight & Eight |
| Tanjung Bungah | ~RM965 (entry unit) | One active launch: Waterstone |
| Gurney Drive | Up to ~RM1,700 nett | One active launch: W Residence Gurney Bay |
| Bayan Lepas | ~RM430–1,300 | SENZE @ PICC, Avion Residence, London Pavilion, Maldives Residences, Lucerne Residences |
| Georgetown | ~RM850–1,500 | G'Vinton, Lumina Residence, Scott @ Logan |
| Batu Kawan | ~RM430–710 (where published) | 12 active launches; several don't publish psf |
Anything priced noticeably above a comparable project's own recent PSF, or above the broader area range with no clear reason (branded residence, exceptional view/floor, genuine LRT proximity), needs scrutiny before you sign. See new vs subsale comparison.
1) Crown Penang — Tanjung Tokong, Freehold (commercial HDA title), larger units foreign-eligible
Why it makes the list: One of the few remaining freehold new launches on the prime northern coast — note the title is commercial-HDA, not residential, which affects utility/quit-rent rates. Foreign buyer eligible at RM1,000,000+. Tanjung Tokong is the most-toured area for own-stay and family buyers I work with. Full area dynamics in the Tanjung Tokong area guide.
Watch-outs: Pricing already reflects the freehold scarcity premium — don't overbid. Maintenance fee not yet confirmed; ask the developer for the rate before you book.
2) MeriOne Residences — Gelugor, The Light Area
Why it makes the list: An IJM Land freehold in the Gelugor / The Light area — 145 units, family-sized 1,055–1,206 sqft layouts, from RM1,578,000 at about RM1,500 psf. Low density by area standards, a bridge-and-city commute axis, and — unusually for a mid-band island pick — the entry price already clears the RM1,000,000 foreign-buyer minimum, so overseas buyers qualify from the first unit. Area context in the Gelugor area guide.
Watch-outs: Completion runs to 2029, so this is a genuine off-plan wait. About RM1,500–1,600 psf is a premium to older Gelugor stock — you are paying for the area's new-build tier, and resale comparables at that level are still thin. Confirm the land title class in writing with the developer before you commit.
3) Everine @ Eco Sun — Mainland Family Gated
Why it makes the list: Best example of the mainland case — more land, freehold landed, properly managed G&G, and 1,739–1,912 sqft of freehold landed from about RM815K — far more space than that budget buys on the island. Pairs well with the Penang Bridge commute or Penang Sentral KTM. See the Batu Kawan area guide for adjacent area context.
Watch-outs: Daily Penang Bridge commute remains the main objection. School options improving but still fewer international vs Tanjung Bungah.
Match your budget + intent to a 3-project shortlist (60 seconds) →The project quiz uses the same filters I use when shortlisting for clients.4) W Residence Gurney Bay — Gurney, Branded Premium
Why it makes the list: The benchmark for Penang branded residences in 2026. Freehold, hotel-grade management, top-tier security. Suits MM2H Platinum and Singapore/HK buyers seeking branded predictability. See MM2H 2026 property buying.
Watch-outs: RM2M+ entry; yield is low (Gurney runs about 2.5–3.5% gross on asking rents). Buy this for capital preservation and lifestyle, not yield.
5) Queens Residences Q3 — Queensbay
Why it makes the list: Freehold condo adjacent to Queensbay Mall — retail, F&B, and established lifestyle infrastructure on the doorstep. Long-term rental demand comes from Bayan Lepas and FIZ professionals.
Watch-outs: Still under construction (est. 2027) — factor in construction-risk timeline. Confirm current unit availability and pricing directly.
6) Batu Kawan Landed — Select Townships
Why it makes the list: A 22x70 ft 2-storey terrace at RM700K in a properly gated mainland township is one of the better yield plays in Penang in 2026 (mainland gross yields run about 4–5% on asking rents against about 3–4.5% for most island condos), with Design Village and IKEA as anchors and the Batu Kawan industrial park next door.
Watch-outs: Stock varies widely in build quality. Confirm developer track record on Brickz. Resale market is shallower than island condos — plan exit timeline carefully.
Zac’s Take
Zac Ong
My H2 2026 pick rule: avoid any new launch priced more than 25% above sub-sale median unless there's a genuine, verifiable reason (branded residence, LRT 500m, freehold scarcity in a freehold-scarce zone). On the projects I track, new launches' starting psf runs roughly 10–20% above completed stock in the same area in Tanjung Tokong, Bayan Lepas, Batu Kawan and Jelutong, which is fair for a new build. Above 25% and you're paying for the showflat, not the asset.
What Didn't Make the Cut (And Why)
I'm not naming specific projects to avoid singling out developers, but the categories I'm avoiding right now:
- Commercial-title units in saturated micro-markets — Georgetown commercial supply is heavy; many launches won't hold launch PSF on resale
- Leasehold new launches in non-LRT areas at PSF parity with freehold — buyers don't get paid for the lease decay
- Affordable housing tier (below RM500K Island) — eligibility restrictions, slower resale market, often Malaysian-only buyer pool
- Developer-financed schemes with above-market rates — the "guaranteed return" maths rarely beats a standard bank loan + open market rental
The 4-Question Sanity Check Before You Sign
- Is the PSF within 25% of sub-sale median for the same area? (Use NAPIC + Brickz)
- Does the developer have at least 2 completed projects in Penang with strata title issued?
- What's the maintenance fee, and does the showflat sinking fund schedule make sense?
- What's your exit assumption — and does the resale market actually exist for this unit type?
Run your shortlist through the ROI calculator before committing.
Sources: New-launch PSF and launch prices come from developer price lists and the project records I track (see the Penang Price Index); yields are gross, on 2026 asking rents. Check any shortlisted building's own transactions on NAPIC/JPPH or Brickz before you offer. Foreign-buyer minimum price and title/LTV figures reflect current Penang state authority and bank lending guidelines.
The Penang new launch pipeline in H2 2026 is busy. Be picky — there's no shortage of stock, only a shortage of stock priced fairly.