Rediscover

Georgetown

The median sale at Georgetown, Penang, Malaysia is RM 340,000

25%
RM 200,000
RM 328 (PSF)
MEDIAN
RM 340,000
RM 447 (PSF)
75%
RM 610,000
RM 579 (PSF)

 

Overview

George Town, capital city of Penang, is located in the northeast corner of Penang Island. It was founded by Captain Francis Light in 1786 for the British East India Company and was named after the British King at the time, King George III. Light established a settlement and developed George Town from what used to be a swamp into a trading port. The town was badly destroyed and burned for days as a result of heavy bombing by the Japanese and the Allied forces during World War II. It is one of the oldest cities in Malaysia and in 2008 was designated by UNESCO as a World Heritage Site.

Property Types

Aside from the lovely colonial buildings such as shophouses there are a wide array of older developed properties such as condominiums (Sri Perdana, Logan Ville and Scotland Park), apartments (Arratoon Court, Taman Kilangin and Desa Acacia) and newer properties such as Birch The Regency and Birch The Plaza – condominium and shopping complex; The Mayfair, Scott Residence and Residence 21 – luxury condominiums; Medan York – 2-story bungalow and apartments; York Residence – 3-story bungalow and various terrace houses and shopoffices.

As you walk along the streets the most noticeable element is the well-preserved colonial architecture of prominent buildings such as Cheong Fat Tze Mansion, City Hall, Fort Cornwallis, Pinang Peranakan Mansion and Queen Victoria Clock Tower. Various places of worship such as Kapitan Keling Mosque, Wat Chaiyamangalaram, Dhammikarama Burmese Buddhist Temple, Hainanese Temple and St. George's Church coexist harmoniously. Unique attractions are the painted street art mimicking life in this city, wrought-iron caricatures depicting anecdotes of the street (Marking George Town Exhibition) and The Camera Museum showcasing the history and evolution of cameras. The funicular (cable railway) ride up Penang Hill gives a magnificent aerial view of the city and the surrounding forests.

Amenities and Facilities

Today, George Town reels in a great many tourists as a medical tourism hub with abundant public and private hospitals such as Penang General Hospital, Penang Adventist Hospital, Lam Wah Ee Hospital and many more. It also has a well-established cruise tourism and export industry enhanced by the cargo transport facilities provided by the port and the airport. Other facilities and amenities include primary and secondary schools, universities and colleges, City Stadium, George Town Branch Library, flea markets (Little Penang Street Market, Little India and Lorong Kulit Flea Market), shopping malls (Gurney Plaza, Queensbay Mall and Prangin Mall), international banks and ample restaurants and cafes.

Accessibility and Transportation

It is highly accessible by air via the Penang International Airport, by ferry from Weld Quay (to Butterworth) and from Swettenham Pier (to Langkawi and Pulau Payar) and by road via Penang Bridge and Penang Second Bridge which connects to the mainland. 

Past Transactions

Project / TownShipsTypeMedian Price PsfMedian PriceFiled Transactions
SandilandsCondominium/ApartmentRM 540RM 722,10572 Transactions
GEORGETOWNDetached House,Semi-Detached House,Terrace HouseRM 645RM 1,637,10645 Transactions
Sri Saujana ApartmentFlatRM 339RM 218,00036 Transactions
Halaman KristalCondominium/Apartment,FlatRM 529RM 458,87532 Transactions
Pangsapuri PelangiCondominium/Apartment,FlatRM 309RM 203,20025 Transactions
Kompleks Pulau Mutiara FlatsFlatRM 311RM 156,33421 Transactions
Taman AbidinFlat,Terrace HouseRM 4,127RM 240,52518 Transactions
Taman Free SchoolDetached House,Flat,Semi-Detached House,Terrace HouseRM 418RM 449,42117 Transactions
Kedah Road FlatCondominium/Apartment,Flat,Hotel/Service ApartmentRM 266RM 148,53415 Transactions
Pengkalan WeldCondominium/Apartment,FlatRM 314RM 221,38513 Transactions
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Rent and Sale Prices in Georgetown

BedroomsSale PriceMonthly RentRental Yield
1RM 730,625RM 1,8503.04%
2RM 750,853RM 2,1813.49%
3RM 1,367,249RM 2,2822%
4RM 2,361,948RM 4,4372.25%
5RM 2,797,938RM ----

Price per Square Foot

SectorPrice Psf (Non Landed)Price Psf (Landed)
Area AverageRM 386RM 591
State AverageRM 328RM 262