New Launch Condos in Georgetown, Penang

3 projects · from RM 560,000 to RM 2,562,111 · Nearest transit: No rail line yet

Georgetown is the historic core of Penang island and a UNESCO World Heritage Site. This is the most recognisable address in Penang: pre-war shophouses, clan jetties, temples and colonial streets sit alongside a small number of modern condominiums. Because much of the area falls inside the heritage buffer and core zones, height and density are tightly controlled, so genuine new-launch condo stock here is limited and tends to sit on the fringes rather than in the protected streets themselves.

Getting around is a real consideration you should weigh honestly. Penang has no MRT or LRT, so you rely on Rapid Penang buses, the free CAT shuttle within the inner city, and your own car. The Rapid ferry links Georgetown to Butterworth on the mainland, and the Penang Bridge and Second Bridge carry road traffic across. Penang International Airport is about 30-40 minutes away by car depending on traffic, which can be heavy around Komtar and the waterfront at peak hours.

For lifestyle, few areas in Malaysia are denser with things to do. Gurney Plaza and Gurney Paragon on the seafront, plus Komtar and Prangin Mall in the centre, cover shopping. Chulia Street, Armenian Street, Kimberley Street and Little India deliver some of the best street food in the country, and hospitals such as Penang GH and private centres like Gleneagles and Island Hospital are close. International and long-established schools serve the wider island, though the immediate heritage core is more about culture than family suburbia.

On price, tracked new launches in Georgetown currently sit in the range of about RM560,000 to RM1,319,000, reflecting a mix of compact heritage-fringe units and larger positioned condominiums. Treat that as a guide, not a quote: pricing moves with the specific project, tower, floor and view. For what is actually launching right now and the exact per-unit numbers, compare current launches on the site or WhatsApp Henry directly.

Buyer-wise, Georgetown suits two groups. Own-stay buyers who want to live inside a walkable, culture-rich city and are comfortable without rail. And investors drawn to the heritage-tourism rental angle, since Georgetown pulls strong visitor numbers year-round. The honest caveats: short-term and holiday rentals in the heritage zone are regulated and not guaranteed to be allowed in every building, long-term tenant demand is thinner than in KL, and older heritage stock can carry maintenance surprises. Go in with eyes open on both the rules and the condition.

Georgetown at a glance
3New-launch projects
RM 560,000From (lowest entry)
RM 2,562,111Up to (highest)
3 FH / 0 LHTenure mix
3MM2H-eligible
🚆 No rail line yetNearest transit
Nearby areas: Gurney Drive · Jelutong · Gelugor · The Light City

Quick answer: is Georgetown a good area to shortlist?

Georgetown is worth shortlisting if you want 3 public new-launch projects currently tracked by AskHenry, with published entry prices from RM 560,000 to RM 2,562,111, nearest transit No rail line yet (Penang has no MRT or LRT). Served by Rapid Penang buses, the free CAT city shuttle, and the Rapid ferry to Butterworth. Penang International Airport is roughly 30-40 min by car; the mainland is reached via the Penang Bridge or ferry.. Compare the latest pricing and package, tenure, completion timing, layout and nearby alternatives before booking.

What to compare before buying in Georgetown

Entry price & packageConfirm the latest pricing and package, and exactly what is included, before booking.
TenureCheck whether the project is freehold or leasehold and how that fits your hold plan.
Layout & built-upCompare unit layouts and built-up sizes for daily liveability and future resale.
Monthly commitmentWeigh the estimated monthly instalment plus maintenance against your budget.
Transit & convenienceNearest transit is No rail line yet (Penang has no MRT or LRT). Served by Rapid Penang buses, the free CAT city shuttle, and the Rapid ferry to Butterworth. Penang International Airport is roughly 30-40 min by car; the mainland is reached via the Penang Bridge or ferry. - factor in your daily commute and access.
MM2H eligibility3 projects here are MM2H-eligible - relevant if buying under the MM2H programme.
Area Snapshot · How Henry Reads This Location
Compact view
Georgetown is the historic core of Penang island and a UNESCO World Heritage Site.
Georgetown is the historic core of Penang island and a UNESCO World Heritage Site.
Best Fit
Buyers comparing new launches in Georgetown
Use this as the area-level buyer profile before judging the individual project.
Source: available area/project intelligence fields

All 3 projects in Georgetown

★ Best new launches in Georgetown (2026) - ranked by the numbers →

Also consider nearby areas

The Light City →

Frequently asked about Georgetown

What is the price range for new launch condos in Georgetown?

Tracked new launches in Georgetown currently sit in the range of about RM560,000 to RM1,319,000, covering everything from compact heritage-fringe units to larger, higher-positioned condominiums. This is a guide range only, since pricing varies by project, tower, floor and view. For live prices on what is actually launching now, compare current listings or WhatsApp Henry.

How far is Georgetown from the nearest rail/transport hub?

Penang has no MRT or LRT, so there is no rail station in Georgetown at all. You rely on Rapid Penang buses, the free CAT inner-city shuttle, the Rapid ferry to Butterworth, and driving. Penang International Airport is roughly 30-40 minutes away by car depending on traffic.

Is Georgetown better for investment or own-stay?

It works for both, but honestly the own-stay case is cleaner. Investors are drawn to the heritage-tourism rental angle, though realistic gross yields tend to land in a modest band of roughly 3-5% and long-term tenant demand is thinner than in KL. Own-stay buyers who value a walkable, culture-rich city and don't need rail get the most out of it.

Can I run a short-term or Airbnb rental in Georgetown's heritage zone?

Not freely. Short-term and holiday rentals inside the UNESCO heritage zone are regulated, and not every building or management corporation permits them. Before buying with a holiday-let plan, confirm the specific building's rules and current local guidelines rather than assuming the tourism demand automatically translates into a legal short-let.

Can foreigners or MM2H holders buy property in Georgetown?

Yes, but Penang island applies a two-tier minimum that is separate from the mainland. On the island, foreigners must meet a minimum of RM1 million for a strata unit (which covers condominiums) and RM3 million for landed property; the mainland minimums are lower at RM500,000 strata and RM1 million landed. MM2H holders are subject to these same state minimums, so the federal MM2H figure does not lower the RM1 million island threshold, and state consent plus a levy applies.

Which Georgetown launches are actually worth it?

Tell me your budget - I'll send the 3 best-fit units, and flag the ones I'd avoid. Within 2 hours.

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