Penang’s high-rise residential market has lengthy been a focus for each traders and homebuyers in search of premium city and waterfront dwelling. The newest rating of the 30 costliest promoting high-rise residences is predicated on the typical transacted costs per sq. foot (psf) recorded in 2024 and 2025. Importantly, the record solely contains accomplished tasks with precise transactions, excluding any residences which can be nonetheless beneath building or solely marketed by builders. This offers a clearer image of what patrons are really paying in in the present day’s market.
Gurney Drive: The Island’s Platinum Mile
Gurney Drive stays Penang’s costliest stretch for high-rise dwelling, led by Marriott Residences (RM2,069.83 psf) on the prime of the record. Simply behind it’s Dawn Gurney (RM1,872.07 psf), a longtime luxurious challenge that continues to realize distinctive costs within the resale market because of its prime frontage and shortage of recent provide alongside this iconic boulevard. Different premium entries embrace Gurney Ville and Gurney Paragon, underscoring the realm’s lasting enchantment amongst prosperous locals and international traders alike.
Seafront Status in George City and Seri Tanjung Pinang
Waterfront exclusivity continues to drive costs on the metropolis’s edge. Shorefront Residences (RM1,318.64 psf), situated alongside Lebuh Farquhar on the fringe of George City’s heritage core, presents panoramic channel views whereas retaining cultural proximity—an exceptionally uncommon mixture. Additional north, Straits Residences (RM1,287.71 psf) and Quayside Rental (RM1,056.14 psf) anchor Seri Tanjung Pinang as a long-standing premium township, the place marinas, retail facilities, and a longtime expat neighborhood reinforce its place as a seafront life-style hub.
Way of life Hubs and Branded Developments
Initiatives with robust developer branding and built-in life-style ideas additionally command premium pricing. Alila 2 (RM1,238.60 psf) leverages hillside exclusivity, whereas Setia V Residences (RM1,192.94 psf) appeals with giant codecs and premium positioning. Within the south, Queens Residences Q1 and Q2 spotlight the rise of Queens Waterfront as a brand new city vacation spot, mixing retail, marina amenities, and simple bridge entry. These schemes present that branding and master-planning can rival geography in sustaining excessive values.
The Function of Design and Density
One other issue driving premiums is exclusivity by means of scale and design. Moulmein Rise (RM1,242.31 psf) and The Cantonment (RM1,191.40 psf) illustrate how boutique, low-density developments in mature city enclaves can obtain values on par with bigger waterfront townships. Consumers right here prize privateness, exclusivity, and design-led dwelling as a lot as location.
Southern Development and Connectivity
The southern hall of Penang island is rising as a aggressive hub, with tasks interesting to professionals working within the Bayan Lepas Free Industrial Zone. Muze @ Penang Worldwide Industrial Metropolis (RM875.05 psf) represents a brand new era of built-in mixed-use precincts, whereas Quay West Residence (RM846.15 psf) beneficial properties traction by means of its adjacency to Queensbay Mall and Queens Waterfront, together with direct expressway entry to each George City and the airport. This underlines how connectivity and retail integration are reshaping perceptions of worth past the island’s conventional prime zones.
Established Names Holding Worth
A number of established tasks proceed to carry out strongly in resale transactions, reflecting each location and popularity. By The Sea (RM1,092.01 psf) in Batu Ferringhi caters to resort-lifestyle patrons, whereas Middleton Rental (RM1,034.54 psf) in Minden Heights appeals to households in search of exclusivity close to Penang’s schooling belt. Legacy addresses like 1 Tanjong, Waterside Residence, and even older schemes similar to Bellisa Courtroom exhibit how restricted provide in mature neighborhoods helps maintain long-term worth.
The info highlights that Penang’s high-rise market stays extremely segmented. Timur Laut dominates the higher tier, because of its established seafront addresses and branded developments, however Barat Daya is quick catching up by means of tasks tied to Queens Waterfront and the PICC precinct.
– Ken Lim
(Founder, PenangPropertyTalk.com)
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