Our Projects : Penang
Penang
Why invest in Penang
George Town is a remarkable example of a historic colonial town demonstrating a succession of cultural influences. Stemming from its former function as a trading port linking the Eastern and Western hemispheres, Penang has inherited the culture of Great Britain, Europe, the Malay Archipelago, India, and China. This trade history of almost 500 years creates a unique cultural blend represented in its architecture and people.
As one of the most complete surviving historical city centres, and in light of its storied past, George Town was designated a UNESCO World Heritage Site in 2008. This designation further boosted Penang’s status as a tourist destination and reinforced the state’s reputation as a bastion of rich cultural heritage.
In 2010, George Town was ranked as the most liveable city in Malaysia by ECA International, coming in at eighth place within Asia as well.
In terms of property investment, as is widely known, property prices are subject to the law of supply and demand – and real estate prices in Penang are among the highest in the country. With a land area of 1,048 square kilometres, and a resident population of 1.7 million, Penang is one of Malaysia’s most densely populated states at 1,720 people per square kilometre – after Kuala Lumpur, where every square kilometre is home to an average of 7,328 individuals, and the federal territory of Putrajaya, which boasts a population density of 2,118 per square kilometre.
Given its long history and high population density, Penang is definitely a great location for property investment. Land scarcity is one of the key factors driving both property rental prices and property values. Penang properties do not just serve the local population, as the state embodies great potential for tourists as well – many heritage houses have been turned into AirBnb homes for tourists, serving both the local and foreign tourist markets.
