Penang Commercial Property Prices (2026)
A shop or office in Penang typically sells for RM 323 per sq ft of floor space, based on 3,041 sales from 2021 to 2026. That is 3% more than the typical shop or office in Malaysia. George Town (Timur Laut) is the priciest area at RM 571, Seberang Perai Selatan the cheapest at RM 236.
Penang areas ranked by shop and office price
Typical price per sq ft of floor space, 2021 to 2026. An area needs at least 30 sales to be listed. Tap an area for its full page.
Orange line: Penang typical, RM 323. Dashed line: Malaysia typical, RM 313.
Before you buy or sell in Penang
- A strata retail lot costs about RM 170 more per sq ft than a 2-storey shop here.
- Leasehold shops and offices sold for more here, RM 484 per sq ft against RM 315 for freehold.
- Typical sale priceRM 650,000
- Sales recorded3,041
- PeriodJan 2021 to Jun 2026
- Freehold91% of sales
What does "typical" mean here?
Line up every sale from cheapest to most expensive and take the one in the middle: half sold for more, half for less. Unlike an average, one RM 40 million mega-deal cannot drag it up.
Prices by property type in Penang
| Property type | Sales | Typical price | Typical per sq ft |
|---|---|---|---|
| 1-storey shop | 80 | RM 540,000 | RM 340 |
| 2-storey shop | 1,288 | RM 660,000 | RM 263 |
| 3-storey shop | 499 | RM 1.1M | RM 287 |
| Shop, 4 storeys or more | 70 | RM 2M | RM 410 |
| Retail lot (strata) | 705 | RM 380,000 | RM 431 |
| Office lot (strata) | 310 | RM 380,000 | RM 420 |
| SOHO/SOFO/SOVO | 89 | RM 750,000 | RM 821 |
Types with fewer than 10 sales are left out, because a handful of deals can swing the figure.
Price per sq ft by year in Penang
| Year | Typical per sq ft | Sales |
|---|---|---|
| 2021 | RM 366 | 161 |
| 2022 | RM 315 | 901 |
| 2023 | RM 320 | 899 |
| 2024 | RM 317 | 692 |
| 2025 | RM 307 | 267 |
| 2026 (so far) | RM 387 | 121 |
NAPIC adds late sales for months, so the latest year is incomplete.
Freehold or leasehold in Penang
- FreeholdRM 315 per sq ft, 2,780 sales
- LeaseholdRM 484 per sq ft, 261 sales
Leasehold shops and offices sold for more here, RM 484 per sq ft against RM 315 for freehold.
Compare states
- PutrajayaRM 70075 sales75
- Kuala LumpurRM 6774,739 sales4,739
- LabuanRM 45840 sales40
- SelangorRM 41414,064 sales14,064
- SabahRM 3821,187 sales1,187
- PenangRM 3233,041 sales3,041
- SarawakRM 2961,398 sales1,398
- JohorRM 2708,734 sales8,734
- PahangRM 2531,046 sales1,046
- PerlisRM 234221 sales221
- KelantanRM 228383 sales383
- TerengganuRM 228323 sales323
- Negeri SembilanRM 2182,138 sales2,138
- MelakaRM 2091,614 sales1,614
- KedahRM 2081,746 sales1,746
- PerakRM 2023,458 sales3,458
Dashed line: Malaysia typical, RM 313.
Selling a shop or office in Penang?
Jay Kew (REN57969) checks your price against the sales on this page. Free.
Questions about Penang shop and office prices
What is the average shop price per sq ft in Penang?
The typical shop or office in Penang sold for RM 323 per sq ft of floor space from 2021 to 2026, based on 3,041 sales.
Which Penang area has the cheapest shops and offices?
Seberang Perai Selatan, at RM 236 per sq ft, based on 557 sales. The priciest is George Town (Timur Laut) at RM 571.
Is freehold more expensive than leasehold in Penang?
Leasehold shops and offices sold for more here, RM 484 per sq ft against RM 315 for freehold.
How these figures are worked out
Source: NAPIC Open Sales Data, sales recorded from January 2021 to June 2026. "Typical" is the median: half of the sales were higher, half lower. "Half of sales between" is the 25th to 75th percentile. We leave out sales under RM 50 or over RM 5,000 per sq ft, and landed sales whose recorded floor space is under a fifth of the land (usually the office floor only). Strata units use their unit area. A place needs 30 sales for a page, a type 10 sales for a row and a year 20 sales for a bar. NAPIC adds late sales for months, so the latest year is incomplete. Last updated 10 October 2026. Figures prepared by Jasper Wu (data) and Jay Kew, REN57969.