New landed homes in Penang rose 12 % in value last quarter
The median price of a new landed house in Penang jumped to RM1.45 million in the three months to June, from RM1.3 million in the first quarter, according to the latest quarterly report by property tracker JPPH.
Source: Jiankun International Berhad · August 4, 2026 at 11:02 PM · AI-assisted report
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PENANG, 5 AUGUST 2026 —
The median price of a new landed house in Penang jumped to RM1.45 million in the three months to June, from RM1.3 million in the first quarter, according to the latest quarterly report by property tracker JPPH.
Market Impact
The gain marks the seventh consecutive quarter of price growth for landed homes on the island, extending a streak that began in late 2021. Analysts at JPPH said the increase reflected tight land supply and steady demand from both local upgraders and expatriates relocating under Malaysia’s MM2H programme.
Penang’s landed market has outperformed terrace and high-rise segments for the past two years. In the same period last year, the median landed price was RM1.28 million, giving an annual increase of 13 %.
Developers have responded by accelerating projects in the south-west corridor near the second Penang Bridge and in the Batu Kawan industrial zone, where plots are still available. Bukit Mertajam, Batu Kawan and Batu Ferringhi recorded the largest price moves, each rising more than 15 % quarter-on-quarter.
Rental yields for landed homes now average 4.1 %, up from 3.7 % in March, because rents have climbed faster than purchase prices. A four-bedroom link house in Tanjong Bungah, for instance, can command RM6,500 a month compared with RM5,800 six months ago.
Foreign buyers accounted for 18 % of landed transactions in the quarter, up from 15 % in the previous three months, driven by the reopening of MM2H in late 2023 and clearer visa rules. Singaporeans, Indonesians and mainland Chinese remain the top three nationalities.
Bank Negara Malaysia’s latest lending data show landed mortgages in Penang grew 8 % year-on-year to RM8.7 billion outstanding, the fastest increase among Malaysia’s states. The central bank has kept the maximum loan-to-value for third residential properties at 70 %, but lifted the floor rate for stress-testing to 6.5 % in May, tempering some investor enthusiasm.
Analysts warn that price growth may slow in the second half as higher financing costs take hold and new supply in the PSI-linked areas comes online. JPPH expects landed prices to rise a further 5-7 % in 2024, below the 18 % gain recorded in 2023.
For investors, the near-term outlook hinges on whether rental demand from tech workers and expatriates can absorb the next wave of completions expected in 2025.
Related: Penang