Buying a Condo in Penang: The Ultimate Guide

[Jonathan Fairfield]

 

Penang ranks among the most popular places in Malaysia where foreigners buy real estate. Known for its cuisine, luxury condos, beaches, and metropolitan areas, Penang is a top destination for investors, retirees, and expats alike.

 

Yet when considering Penang as your investment choice, it is important to differentiate between Penang island and Penang province.

 

When referring to Penang, people usually mean the island, which includes the large city of Georgetown. The province, by contrast, includes the island and parts of mainland Malaysia.

 

In this guide, our focus will be condo units located on Penang island. We’ll discuss the condominium buying process here by understanding:

 

• Foreign property ownership in Penang;
• How much a condo in Penang costs;
• The best neighborhoods in Penang;
• Fees and property taxes in Malaysia; and
• Is a condo in Penang a good investment?
• Foreign Property Ownership in Penang
•  

Malaysia is one of the only countries in Asia where foreigners are eligible to own land directly. With population growth, rapid urbanization, combined with a rising middle class, large Malaysian cities like Penang should fill out, thus leading to higher real estate values.

 

However, with most things that seem too good to be true, there are a few caveats for owning property in Penang. For instance, foreign condo buyers must adhere to a minimum purchase price of RM1 million (about US$240,000).

 

Continue reading: https://www.investasian.com/2021/07/26/buy-penang-condo/

 

[Postmaster]

Largely Muslim with Burkha  wearing sweaty ladies yet their men can dress scantily for the weather.  Seems a very unfair unequal religion. I would never move or visit Malaysia neither would any of my friends.

[Denim]

29 minutes ago, Postmaster said:

Largely Muslim with Burkha  wearing sweaty ladies yet their men can dress scantily for the weather.  Seems a very unfair unequal religion. I would never move or visit Malaysia neither would any of my friends.

The island itself is mostly Chinese - Malay resulting in some very beautiful women.

Nice beaches and a great selection of food. Georgetown used to have a very colonial feel because of the peppercorn rents. When the rents went up some years ago a lot of the Chinese moved to new villages built in the central part of the island.