Based on 9694 units sold preceding 12 mths.
Compound annual growth rate in median price.
Penang Island is an island that makes up half of the state of Penang. It is an island that is separated from the mainland but is connected by Penang Bridge. It is one of the hottest tourist spots in Malaysia as it is not only an island full of history but an island with a variety of entertainment to enjoy. Penang Island was formerly known as Prince of Wales Island where its city George Town was founded by Francis Light in 1786. Penang then came about when Malaysia gained its independence in 1957 and till this day is known as the Silicon Valley of the East.
There are numerous road networks around Penang Island that allows one to travel from one spot to another with ease. The North-South Expressway is one of the expressways that runs through Seberang Perai. The Butterworth Outer Ring Road (BORR) is a tolled expressway that helps Butterworth, Perai and Seberang Jaya to reduce the traffic due to the intense urban and industrial development. The other main roads in Penang are the Federal Route, Tun Dr Lim Chong Eu Expressway and Penang Middle Ring Road.
Penang Island is a gorgeous island that has so much to offer to its visitors and residents. There are spots that are nature friendly that visitors can enjoy. There are parks such as the City Park, Quarry Park and Raffel Park that one can visit while in Penang. Visitors can enjoy a picnic, a stroll or a jog in these parks while being surrounded by nature. There are also splash pools in City Park that visitors can play around in.
Penang Island is a district has a large population of expats that end up falling in love with the beauty of the island and deciding to stay. Due to this, there are a variety of cuisines from local to international available. Visitors and residents are spoiled for choices on food. Getting groceries are also made easy for those who enjoy cooking their own food. There are supermarkets such as Cold Storage Island Plaza, Giant Supermarket Penang Plaza and Tesco Seri Tanjung Pinang amongst many others that are available to provide people with options for groceries.
Penang Island is popular for all the historical buildings available for viewing. Among the most popular spots in Penang that tourists like to visit are the Kek Lok Si Temple, Penang Hill, Gurney Drive, Penang Botanic Garden, Penang State Museum and Art Gallery and many more. One can not only learn of the history of this building but also be able to enjoy the night skyline of this beautiful island and be captivated by it time and time again.
Apart from being a popular destination for tourist, the population in Penang Island seem to be growing as well. Schools have been popping up to cater to the demands of families that live in Penang. Residents can choose from the variety of schools available in Penang without worrying. International schools such as The International School Of Penang, Straits International School Penang and St Christopher’s International Primary School are one of the many options that are in Penang Island and in the surrounding area of Penang Island. Apart from international schools, public schools such as Penang Free School, SMK (L) Methodist and SJK (T) River Road can also be considered when looking for schools.
Properties in Penang Island are mainly freehold properties. The median price for the properties in Penang Island stands at RM 1,581 k and the median price per square feet stands at RM 295. There are a total of 1,706 project listings as of now in Penang Island. This showcases the variety of property type that home owners and investors can browse through to find the one they fancy such as Fragonard Garden, Botanica.CT @ Balik Pulau Penang, 10 Island Resort and Taman Markisah.
Buying, selling, or investing property is a very big decision. Even moving to your desired location can sometimes be very emotional. Using data from more than 1963 listings in Penang (Island), PropertyGuru aim to help you make the right decisions on selecting property, by providing you helpful news and property statistics such as median and growth in the area, but also our opinion on local neighborhood area.Read More