George Town (Timur Laut) Commercial Property Prices (2026)
A shop or office in George Town (Timur Laut) typically sells for RM 571 per sq ft of floor space, based on 757 sales from 2021 to 2026. That is 77% more than the typical shop or office in Penang, and 82% more than across Malaysia.
Before you buy or sell in George Town (Timur Laut)
- Strata retail lots and strata office lots sell for similar prices per sq ft here.
- Freehold and leasehold shops and offices sold for similar prices here: RM 571 and RM 581 per sq ft.
- George Town (Timur Laut)RM 571
- PenangRM 323
- MalaysiaRM 313
- Typical sale priceRM 570,000
- Sales recorded757
- PeriodJan 2021 to Jun 2026
- Freehold78% 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 George Town (Timur Laut)
| Property type | Sales | Typical price | Typical per sq ft |
|---|---|---|---|
| 2-storey shop | 71 | RM 1.8M | RM 817 |
| 3-storey shop | 73 | RM 2.3M | RM 565 |
| Shop, 4 storeys or more | 14 | RM 2.9M | RM 503 |
| Retail lot (strata) | 299 | RM 350,000 | RM 508 |
| Office lot (strata) | 218 | RM 380,000 | RM 465 |
| SOHO/SOFO/SOVO | 78 | RM 750,000 | RM 829 |
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 George Town (Timur Laut)
| Year | Typical per sq ft | Sales |
|---|---|---|
| 2021 | RM 535 | 52 |
| 2022 | RM 581 | 206 |
| 2023 | RM 494 | 245 |
| 2024 | RM 615 | 158 |
| 2025 | RM 700 | 63 |
| 2026 (so far) | RM 829 | 33 |
NAPIC adds late sales for months, so the latest year is incomplete.
Freehold or leasehold in George Town (Timur Laut)
- FreeholdRM 571 per sq ft, 588 sales
- LeaseholdRM 581 per sq ft, 169 sales
Freehold and leasehold shops and offices sold for similar prices here: RM 571 and RM 581 per sq ft.
Townships and developments in George Town (Timur Laut)
Compare Penang areas
Orange line: Penang typical, RM 323. Dashed line: Malaysia typical, RM 313.
Selling a shop or office in George Town (Timur Laut)?
Jay Kew (REN57969) checks your price against the sales on this page. Free.
Questions about George Town (Timur Laut) shop and office prices
What is the average shop price per sq ft in George Town (Timur Laut)?
The typical shop or office in George Town (Timur Laut) sold for RM 571 per sq ft of floor space from 2021 to 2026, based on 757 sales.
How much does a strata retail lot cost in George Town (Timur Laut)?
A typical strata retail lot in George Town (Timur Laut) sold for RM 350,000, or RM 508 per sq ft, based on 299 sales.
Is freehold more expensive than leasehold in George Town (Timur Laut)?
Freehold and leasehold shops and offices sold for similar prices here: RM 571 and RM 581 per sq ft.
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.