• Top Real Estate Agencies in Penang: The Ultimate Guide

    Posted on 8 Comments


    Penang has been ranked as one of the most livable and price-worthy places to be in the world. Naturally, a lot of foreigners, like American retirees, Asians, Europeans, and Australians decide to relocate here.

    If you decide to buy property in Penang, you’ll see that you have a number of agents to choose among. That’s why I decided to make things a bit easier and wrote this article.

    Let’s have a look at some of the biggest and most popular agencies in Penang.

    1. Penang Properties

    Penang Properties has been in the real estate industry for years and is one of the biggest real estate agencies in Penang. The company has 25 employees and is currently headed by Jeffrey Yeoh Jin Hau, that has over 25 years of experience in real estate.

    The company has won a number of awards:

    a. 2016 Top Online REN for northern region (Penang Kedah & Perlis)

    b. CIMB Top Real Estate Agent Award Year 2008 – 2013

    c. Best Standard Chartered Panel of REA (Nationwide) Year 2011

    Property types

    Includes both residential and commercial properties, for example, apartments, houses, luxury property, offices, shophouses, hotels, land and more.

    Services offered

    Helping foreigners to buy, rent or sell property. They can also introduce you to solicitors and handles other services.

    Office address

    163-F-4 Wisma Sri Perak, Jalan Perak, 10150 Penang Malaysia

    2. Henry Butcher Penang

    Henry Butcher is one of the largest real estate agents in Malaysia, with over 400 employees and 31 offices nationally.

    The company is headed by a number of persons who have decades of experience in dealing with the Malaysian real estate industry.

    Property types

    Includes a vast number of residential and commercial properties, for example:

    • Bungalows
    • Condos
    • Apartments
    • Land
    • Hotels
    • Office space
    • Factories
    • Warehouses

    Services offered

    HB offers a number of services that include everything from property valuation, property procurements, sales of properties, leasing, property management, property auctions, and more.

    Office address

    142M, Jalan Burma, George Town, 10050 George Town, Pulau Pinang, Ma-lai-xi-a

    3. Penang Property Angel

    Penang Property Angel is headed by Cindy Chew and Serena Tan, both of having a long experience in real estate. Cindy has worked in the industry for more than 35, Serena started working for the company in 2010.

    The company has 10 agents (including Cindy and Serena) which is not a modest figure.

    Property types

    Includes both residential and commercial properties, for example:

    • Condos and apartments
    • Terraced houses
    • Offices
    • Shophouses
    • Hotels
    • Resorts
    • Land

    Services offered

    The company helps foreigners to buy, lease or sell properties in Penang.

    Office address

    54, Jalan Chow Thye, 10050 George Town, Pulau Pinang, Malaysia

    4. Daiwa Housing

    Daiwa housing has been catering both local and foreign property buyers since 1978 and is therefore one of the oldest and most reputable agency on the island. The company is currently headed by Jeffrey Ooi.

    Property types

    Includes both commercial and residential properties like houses, bungalows, condos, apartments, land, factories, hotels, shophouses, and more.

    Services offered

    The company mainly focuses on the following services:

    • Apartment Sales
    • Landed House Sales
    • Commercial Property
    • Mortgage Advisory
    • Relocation Services

    Office address

    68C (First Floor), Jalan Masjid Negeri
    Penang, Malaysia

    5. Carey Real Estate

    Carey Real Estate was founded by Nixon Paul in 1983, he’s currently the Managing Director and focuses mainly on commercial and investment properties.

    The company has its head office in Kuala Lumpur but been active in Penang for years. There are currently 20 persons working in their Penang office alone.

    Worth mentioning is that Nixon was the President of the Malaysian Institute of Estate Agents from 2011-2013, which proves his credibility.

    Property types

    Includes both residential and commercial properties.

    Services offered

    • Renting & Selling Properties
    • Projects Sales on Behalf of Developers
    • Property Consultations
    • Property Legal Consultations

    Office address

    29, Lebuh Melaka,
    10400 Georgetown, Penang, Malaysia

    6. Khoo & Associates Realty (ShiJie Property)

    Johnny Khoo Kay Chee J.P. founded Khoo & Associates Realty in 1983, making it one of the oldest real estate agencies in Penang.

    Despite being in his seventies, and with over 40 years of experience in real estate, Johnny is still highly active in the industry.

    The company currently has around 20 employees, focusing on Penang and the Northern areas of Malaysia.

    Property types

    Includes both residential and commercial properties, like shophouses, land, factories, apartments, condos.

    Services offered

    You can get help with any of the following services:

    • Tenant & Buyer Representation
    • Sales & Leasing of residential and commercial properties
    • Corporate real estate
    • Public and Private Auction sales
    • Project marketing
    • Others

    Office address


    7. IQI Realty Sdn Bhd

    IQI Realty is an international real estate agency with a presence in a number of countries, for example, Malaysia, Australia, Singapore, the Philippines, and Vietnam.

    Almost 1,000 persons work for the company which speaks for itself.

    The head office is not located in Penang, but in Petaling Jaya (close to Kuala Lumpur). But it’s highly active in the Penang real estate market.

    Property types

    Mostly residential properties, like apartments and condos in Kuala Lumpur, Penang, Johor, and Iskandar

    Services offered

    They deal with both commercial and residential properties but manage mostly luxury apartment and condominium projects.

    Office address

    2-1-41, One Square, Tingkat Mahsuri 1, Bayan Baru, 11900 Bayan Lepas, Pulau Pinang, Malaysia

    How high are the minimum investment requirements in Penang?

    The island has higher requirements compared to the mainland (Butterworth). The minimum requirements are currently as follows:

    Penang Island villas: RM 3 million
    Penang Island condos RM 1 million

    Penang Mainland villas: RM 1 million
    Penang Mainland condos: RM 500,000

    Can I rent out my property as a foreigner in Penang?

    Yes, you don’t have any issues to rent out your property. The easiest way to do this is to let a local agent manage the tenants for you, unless you want to live in Penang full time and put in the work yourself.

    Keep in mind that there are no official laws or regulations stipulated for tenancies, but that the authorities usually put the tenant in favor, not the landlord.

    Writing a waterproof tenancy agreement is crucial and you should seek help from an agent to handle this for you.

    Where should I buy in Penang?

    You should definitely have a look at both the island and the mainland. The most popular and interesting places are:

    • Georgetown (the Island)
    • Butterworth (the Mainland)
    • Batu Ferringhi (the Island)

    The island is way more expensive compared to the mainland, a reason why developers and buyers have found the mainland more interesting. For the people who can afford it, the island is still the preferable choice.

    I also recommend you to read my separate article about buying property in Penang, which describes the places more in detail.

    Hiring a solicitor

    Finding a solicitor to help you through the conveyancing process can be crucial to avoid any pitfalls.

    Some real estate agencies can connect you with solicitors, but sometimes it’s better to find an independent one upfront, a reason for this is that the agent and his appointed solicitor might “cooperate” and not put your needs first.

    The solicitor can help you with a number of services, reducing risks and a lot of workload on your side. Some of the most important tasks that your solicitor will handle include:

    • To check the title deed
    • Preparing and exchanging contracts with the seller
    • Check your mortgage documents and give advice
    • Register the property in your name at the Land Registry

    Acting alone in a foreign country far from home is not easy and the fee to hire a solicitor is either fixed or only 0.4 – 1% of the purchase price.

    I hope that you found this article interesting and recommend you to read my complete guide about buying property as a foreigner in Malaysia.

  • Disclaimer: The content on this website is provided for general information about buying property in Asia, developments, agencies, regulations, taxes, and other related topics. However, we don't guarantee that we keep the content up to date or that it's free from error. We do make mistakes from time to time. We never provide legal advice and financial advice of any sort.
  • 8 Responses to “Top Real Estate Agencies in Penang: The Ultimate Guide

    1. Shirley at 9:22 am

      I would like inquiry for how to investment property running at Penang? What is recommend on the location for foreigner?

      Thank you.

      1. Marcus Sohlberg at 9:29 am

        Hi Shirley,

        Is your plan to buy-to-let in Penang? More people look towards the Mainland (Butterworth), but the Island is still a preferred option if you have the money to put in.

    2. Marcus Sohlberg at 4:25 am

      Hi Rachalle,

      We are working with an agent in Penang, I will help you to get in touch with them.

    3. Indrani at 11:33 am

      We want to sell our unit in Putra Marine…elegantly furnished…full ocean view…4 bedroom…5 bathroom…balcony…we live in Singapore

      Can you help us?
      My email is rini47@hotmail.com

      1. Marcus Sohlberg at 4:07 am

        Hi Indrani,

        Yes we can, we’ve sent you an email. / Marcus

    4. Nagy Omar at 11:40 am

      Dear Sir HI
      I have a property in Ferringi Villas Bunglow if intrested
      e,mail me nagyomar99@yahoo.com ASAPThank you
      Nagy OMAR

      1. Marcus Sohlberg at 4:52 am

        Nagy, please send this request through our contact form or through the form in this article.

    5. Meha at 9:25 am

      Hi I want a place or an open area for open car wash business in Penang

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