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Penang Overview

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Penang

Malaysia

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Penang is a beautiful state at the northwest of Peninsular Malaysia, filled with history and culture. Known for having some of the best food in Malaysia, it is where many dream of visiting just to sample the mouth-watering cuisine there.

The name Penang derives from the Malay word, Pinang which means ‘areca nut’. It was first discovered in the 15th century by Chinese merchants who came upon the island. After that, British rule shaped the history of modern Penang from 1786 when George Town was established as its capital city. Penang later gained independence from the British when it merged with the Federation of Malaya (now Malaysia) in 1957.

The state consists of two parts - the Penang Island, where the state capital of George Town is, and the mainland, Seberang Perai. Both are connected by the Penang Bridge and the Sultan Abdul Halim Muadzam Shah Bridge. Penang has among the nation’s highest population densities and is one of Malaysia’s most developed states.

It was one of the few states that saw a growth in property transactions during the COVID-19 pandemic in 2021, proving to have a strong market demand despite global difficulties during this period. The state is in one of the best positions to bounce back during a post-pandemic recovery, especially because of its desirable location for investment, second homes and retirement. Moreover, it was ranked among the "15 Best Islands in the World to Retire In" by International Living.

George Town is the most popular city here, defined by its gorgeous colonial architecture, diverse arts scene, and delectable street food. Here you can live an affordable First-World lifestyle that embodies the comfort of home. From movie theatres with American films to fancy malls, Penang offers all your entertainment needs without breaking the bank.

What Penang Locals Do

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What Penang Locals Feel

Get to know this neighbourhood on a personal level with real insights rated by the locals themselves
  • Accessibility
  • How easy it is reach or enter. This includes public transport, quality of roads, traffic and road connectivity.
  • Safety
  • Protection from or unlikely to cause danger, risk, or injury. This includes crime rates and security.
  • Convenience
  • Access to public places without difficulty. This includes amenities, nearby schools, places of worship.
  • Nature
  • Collectively plants, animals, the landscape, and other features and products of the earth. This includes public parks, nature reserves, public gardens.
  • Community
  • Collectively plants, animals, the landscape, and other features and products of the earth. This includes public parks, nature reserves, public gardens.
  • Schools
  • Availability of schools in the area.

Accessibility

Nature

Safety

Community

Convenience

Schools

What Penang Locals Say

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Deixist

Plenty of unique architecture to see. Not just Penang Bridge and KOMTAR but other colonial era buildings, houses etc.

over 2 years ago

L f1c40f

Lawrencelee8926

good food,.

almost 5 years ago

T 1abc9c

Thianfook

Strategic good place

over 5 years ago

Properties in Penang

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About This Map

Analysis & Comparison

Analysis and comparison of average transaction, for sale and for rent prices for landed, non-landed and commercial properties within Penang *

* To provide you the most accurate information some columns may appear as ‘Insufficient Data’ due to insufficient transactions in the area

Non-Landed Landed Commercial
Avg Transacted Price
Avg Transacted Price(Psf)
Avg For Sale Listing Price
Avg For Sale Listing Price(Psf)
Avg For Rent Listing Price
Avg For Rent Listing Price(Psf)
Compare Neighbourhoods

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This is a representation of historical transaction prices within the neighbourhood, categorised by non-landed (condominium, serviced apartment, apartment), landed (townhouse, terrace, bungalow, semi-detached, house) and commercial (office, shop).

Did you know?

Transacted Prices will give you an idea of the neighbourhood’s property price trend.

Cost of Living

The Cost of Living index is an estimate by users on the average cost for typical items that are available in most locations. The content is user generated therefore may not be 100% accurate.

Restaurants
Meal, Inexpensive Restaurant 10.00 RM 9.00 15.00
Meal for 2 People, Mid-range Restaurant, Three-course 60.00 RM 45.00 100.00
McMeal at McDonalds (or Equivalent Combo Meal) 16.50 RM 15.00 20.00
Domestic Beer (0.5 liter draught) 15.00 RM 10.00 28.00
Imported Beer (0.33 liter bottle) 20.00 RM 10.00 30.00
Cappuccino (regular) 11.25 RM 8.00 18.00
Coke/Pepsi (0.33 liter bottle) 1.90 RM 1.30 2.00
Water (0.33 liter bottle) 1.53 RM 1.00 2.00
Markets
Milk (regular), (1 liter) 7.31 RM 6.00 8.00
Loaf of Fresh White Bread (500g) 3.78 RM 2.00 10.00
Rice (white), (1kg) 4.90 RM 1.30 12.00
Eggs (regular) (12) 6.69 RM 4.80 7.20
Local Cheese (1kg) 37.00 RM 20.00 100.00
Chicken Fillets (1kg) 22.07 RM 8.00 25.00
Beef Round (1kg) (or Equivalent Back Leg Red Meat) 36.80 RM 15.00 100.00
Apples (1kg) 10.04 RM 6.30 14.00
Banana (1kg) 6.28 RM 3.99 10.00
Oranges (1kg) 10.17 RM 4.00 15.00
Tomato (1kg) 4.71 RM 3.00 6.00
Potato (1kg) 3.25 RM 2.49 4.00
Onion (1kg) 3.86 RM 3.50 4.00
Lettuce (1 head) 3.88 RM 0.73 5.00
Water (1.5 liter bottle) 1.64 RM 1.00 2.00
Bottle of Wine (Mid-Range) 78.00 RM 50.00 120.00
Domestic Beer (0.5 liter bottle) 10.47 RM 6.90 13.00
Imported Beer (0.33 liter bottle) 15.81 RM 8.00 20.00
Cigarettes 20 Pack (Marlboro) 17.50 RM 17.40 20.00
Transportation
One-way Ticket (Local Transport) 2.00 RM 1.80 2.30
Monthly Pass (Regular Price) 75.00 RM 50.00 217.39
Taxi Start (Normal Tariff) 6.00 RM 5.00 9.00
Taxi 1km (Normal Tariff) 1.50 RM 1.00 3.00
Taxi 1hour Waiting (Normal Tariff) 30.00 RM
Gasoline (1 liter) 2.09 RM 2.00 2.20
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 169,225.45 RM 155,701.00 173,390.00
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 128,981.33 RM 120,000.00 145,000.00
Utilities (Monthly)
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment 216.57 RM 177.08 300.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.27 RM 0.15 0.40
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 126.62 RM 100.00 200.00
Sports And Leisure
Fitness Club, Monthly Fee for 1 Adult 127.14 RM 100.00 150.00
Tennis Court Rent (1 Hour on Weekend) 11.00 RM 8.00 10.00
Cinema, International Release, 1 Seat 15.00 RM 11.00 18.00
Childcare
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 933.33 RM 800.00 1,000.00
International Primary School, Yearly for 1 Child 32,275.00 RM 19,200.00 48,000.00
Clothing And Shoes
1 Pair of Jeans (Levis 501 Or Similar) 235.62 RM 125.00 350.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 114.86 RM 30.00 154.00
1 Pair of Nike Running Shoes (Mid-Range) 296.25 RM 150.00 600.00
1 Pair of Men Leather Business Shoes 319.00 RM 225.00 500.00
Rent Per Month
Apartment (1 bedroom) in City Centre 1,163.33 RM 600.00 1,800.00
Apartment (1 bedroom) Outside of Centre 990.00 RM 500.00 3,200.00
Apartment (3 bedrooms) in City Centre 2,385.71 RM 2,000.00 3,500.00
Apartment (3 bedrooms) Outside of Centre 1,928.57 RM 1,400.00 3,000.00
Buy Apartment Price
Price per Square Meter to Buy Apartment in City Centre 8,477.44 RM 5,381.96 12,916.69
Price per Square Meter to Buy Apartment Outside of Centre 5,960.52 RM 4,305.56 8,611.13
Salaries And Financing
Average Monthly Net Salary (After Tax) 3,683.33 RM
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 3.69 3.00 4.30

Crime Rate

Crime Index is an estimation of overall level of crime in a given city or a country. We consider crime levels lower than 20 as very low, crime levels between 20 and 40 as being low, crime levels between 40 and 60 as being moderate, crime levels between 60 and 80 as being high and finally crime levels higher than 80 as being very high.

Safety index is, on the other way, quite opposite of crime index. If the city has a high safety index, it is considered very safe.

Crime Index: 36.19 Safety Index: 63.81
Level of crime 32.04
Crime increasing in the past 3 years 46.52
Worries home broken and things stolen 36.85
Worries being mugged or robbed 39.99
Worries car stolen 32.85
Worries things from car stolen 41.52
Worries attacked 26.83
Worries being insulted 21.53
Worries being subject to a physical attack because of your skin color, ethnic origin, gender or religion 22.97
Problem people using or dealing drugs 35.14
Problem property crimes such as vandalism and theft 44.92
Problem violent crimes such as assault and armed robbery 33.19
Problem corruption and bribery 66.78
Safety walking alone during daylight 81.11
Safety walking alone during night 48.87

Quality of Life

Quality of Life Index (higher is better) is an estimation of overall quality of life by using an empirical formula which takes into account purchasing power index (higher is better), pollution index (lower is better), house price to income ratio (lower is better), cost of living index (lower is better), safety index (higher is better), health care index (higher is better), traffic commute time index (lower is better) and climate index (higher is better).

Quality of Life Index: 142.2
Purchasing Power Index 57.04
Safety Index 63.81
Health Care Index 78.66
Climate Index 59.28
Cost of Living Index 35.51
Property Price to Income Ratio 9.8
Traffic Commute Time Index 31.47
Pollution Index 51.99
ƒ 142.2

Consumer Price Index

The Consumer Price Index (CPI) line shows an increment in prices of essential goods on a yearly basis, while the Percentage Changes line shows the level of changes in price increments over the years. For example, a dip in the CPI line may indicate a low level of price increment as compared to the previous year while a surge in CPI line shows a high level of price increment as compared to the previous year.

The above graph shows 1.742% of price changes in essential goods such as rice, meat and tobacco between the years 2011 and 2012, while increasing in difference to 2.093% in 2013. Prices of essential goods then increasing to 3.169% in the year 2014 while surging by 2.529% in 2015.

While the prices of essential goods have shown a variation in the Percentage Changes, the Consumer Price Index (CPI) on the other hand indicates a reality of ever increasing prices in essential goods with increments between the years 2011 - 2015 at 102.7 in 2011, 105.1 in 2012, 107.3 in 2013, 110.7 in 2014, 113.5 in 2015.

This is a representation of Penang Consumer Price Index (CPI) for the year of 2011 - 2015

Did you know?

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. (Wikipedia)

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