A furnished three-bedroom at Mira Residence lets for about RM4,500 a month. A furnished home at Alila 2, a few minutes away, lets for RM6,000–8,000. On the seafront, The Cove asks RM10,000 or more. Tanjung Bungah's rental market is wide, and knowing where each building sits is useful whether you're buying to let, or renting here first before you buy.
These figures come from asking rents on the main Malaysian property portals in September and October 2026. Asking rents aren't signed leases, so treat them as a guide to what each building commands, not a promise.
Key takeaways: Tanjung Bungah rents run from about RM2,000 to RM13,000 a month depending on the building. Family-sized homes near the schools, such as Mira Residence and Alila 2, rent steadily and return roughly 4–4.5% gross. The seafront apartments command high rents but lower returns, around 3–4%. Holiday letting isn't allowed in island condos, so think in one- to two-year leases.
Asking rents by building
| Building | Typical home | Asking rent per month (late 2026) | Rough gross yield |
|---|---|---|---|
| Granito @ Permai | 861 sq ft, 3-bed | about RM1,800–2,200 | about 5% |
| Alila Horizons | 1,356–1,450 sq ft | about RM2,000–3,000 | about 3.5% |
| Surin Condominium | about 1,300 sq ft, 3-bed | about RM2,300–2,800 | about 4–4.5% |
| Mira Residence | 1,352–1,635 sq ft | about RM3,500–4,800 | about 4–4.5% |
| Horizon Tower | about 2,300 sq ft | about RM3,200–5,000 | about 3.5% |
| Alila 2 | 1,905–2,397 sq ft | about RM6,000–8,200 | about 4–4.5% |
| 1 Tanjong | about 4,760 sq ft | about RM8,200–10,000 | about 3% |
| Infinity Beachfront | about 3,700 sq ft and up | about RM7,500–11,500 | about 3–4% |
| Springtide Residences | 4,112–5,221 sq ft | about RM8,500–13,000 | about 2.5–3% |
| The Cove | about 6,000 sq ft | about RM10,000–12,800 | about 3.5–4% |
Yields are rough gross figures: a typical annual asking rent divided by a typical asking price for the same kind of home. Your own return depends on the price you pay, the furnishing and how quickly you find a tenant.
Who rents here
Tanjung Bungah's tenants are mostly families. Tenby Schools Penang, in the Lembah Permai neighbourhood, and Dalat International School are both here, and Uplands is a short drive away in Batu Ferringhi. That gives the area steady demand from parents on one- or two-year postings, which is why family-sized homes near the schools, like Mira Residence and Alila 2, rarely sit empty for long.
The seafront apartments attract senior expatriates, company-leased homes and wealthy local families. Rents are high, but there are fewer tenants at that level, so a vacant month costs more.
You'll also find retirees renting for a season or a year before they buy, which is exactly what I'd suggest to anyone moving from abroad.
If you're buying to let
Furnish for families. Most listings here are fully furnished, and well-furnished family homes let faster. Budget for good air-conditioning, kitchen appliances and solid, simple furniture.
Price for a year, not a month. A slightly lower rent that secures a two-year family tenant usually beats holding out for the top figure and losing two months.
Know your real return. From the gross rent, take off the service charge and sinking fund, insurance, an agent's fee (often around a month's rent for a one-year lease), any empty months, and tax. Non-resident owners pay a flat 30% on net rental income in Malaysia, filed with LHDN; UK owners report it to HMRC too, with credit for the Malaysian tax.
Don't count on Airbnb. Under Penang's Private Homestay By-Law 2026, condos on Penang Island can't be licensed for short stays, and enforcement starts on 1 November 2026.
If you're renting first
Renting before you buy is the best way to test Tanjung Bungah. A one-year lease at Mira Residence or Alila 2 tells you whether you like the hill, the drive to town and the daily rhythm far better than a week's viewing trip.
Expect to sign a one- or two-year tenancy agreement and pay a security deposit, typically two months' rent, plus a smaller utility deposit, in advance. Check what's included in the furnishing, who pays the service charge (normally the owner), and whether a diplomatic or early-exit clause is offered if your plans might change.
When you're ready to buy, the best condos in Tanjung Bungah guide covers every building, and Alila 2 vs Waterstone vs Mira Residence compares the three most popular family choices.
Zac’s Take
Zac Ong
If you're buying to let in Tanjung Bungah, the family-sized homes near the schools are the steady earners: Mira Residence and Alila 2 both let well to parents at Tenby and Dalat. The seafront apartments are wonderful homes, but as rentals they earn less on what you pay. And if you're moving here from abroad, rent for a year first. It's the cheapest lesson you'll ever buy.
Average response: under 1 hour, 9am–7pm Mon–Sat.
📲 Ask about renting or letting in Tanjung BungahSources: Asking rents from PropertyGuru, iProperty, EdgeProp and Mudah listings, September–October 2026. Asking prices from the same portals. Short-term rental rules from Penang's Private Homestay By-Law 2026; non-resident rental tax from LHDN guidance. Rents and prices change with every listing, so check current figures for the building you're interested in.