Most Expensive Luxury Condos in Georgetown Penang

There are several reasons why condos in Penang are expensive:

1. Location: Penang is a highly desirable location for many Malaysians and foreign investors due to its strategic location, vibrant culture, and strong economic growth. The demand for housing in Penang is high, especially in prime locations such as Georgetown and Gurney Drive, which drives up the prices of condos in these areas.
2. Limited land availability: The availability of land in Penang is limited, and this has resulted in a scarcity of prime land for new developments. As a result, developers need to pay a premium for land, which is then passed on to buyers in the form of higher prices for their properties.
3. High-end features and facilities: Luxury condos in Penang are often built with high-end features and facilities such as premium finishes, spacious layouts, and modern amenities such as swimming pools, gyms, and 24-hour security. These features add to the cost of construction, and developers pass these costs on to buyers.
4. Strong rental potential: Penang is a popular tourist destination, and this has resulted in a strong rental market for condos. Investors are willing to pay a premium for condos with good rental potential, which drives up the prices of these properties.
5. Strong economic growth: Penang has a strong and diversified economy, with industries such as manufacturing, services, and tourism contributing to its growth. The strong economic growth has resulted in a strong demand for housing, which has driven up the prices of condos in Penang.

Here are some of the most expensive luxury condos in Georgetown, Penang, based on their listing prices:

1. Marriott Residences – Located in the heart of Georgetown, Marriott Residences is a luxury high-rise condominium developed by BSG Property. It offers 200 units spread across 54 storeys, with unit sizes ranging from 1,300 to 2,800 square feet. The condominium offers a wide range of high-end facilities and services, including a swimming pool, a gym, a sauna, a children’s playground, and 24-hour security. The project is expected to be completed in 2023, and the estimated price per square foot is 1.7K psf.
2. The Cantonment – Located in Pulau Tikus, The Cantonment is a luxury high-rise condominium developed by Malton Berhad Group. It offers 228 units spread across 27 storeys, with unit sizes ranging from 1,200 to 3,300 square feet. The condominium offers a wide range of high-end facilities and services, including a swimming pool, a gym, a sauna, a children’s playground, and 24-hour security. The project was completed in 2015, and the estimated price per square foot was 1.5K psf.
3. The Shorefront – Located in Tanjung Tokong, The Shorefront is a luxury high-rise condominium developed by YTL Land & Development. It offers 98 units spread across 20 storeys, with unit sizes ranging from 3,900 to 5,000 square feet. The condominium offers a wide range of high-end facilities and services, including a swimming pool, a gym, a sauna, a children’s playground, and 24-hour security. The project was completed in 2018, and the estimated price per square foot was 1.4K psf.
4. Setia V Residences – Located in Gurney Drive, Setia V Residences is a luxury high-rise condominium developed by SP Setia. It offers 167 units spread across 39 storeys, with unit sizes ranging from 2,300 to 2,800 square feet. The condominium offers a wide range of high-end facilities and services, including a swimming pool, a gym, a sauna, a children’s playground, and 24-hour security. The project was completed in 2017, and the estimated price per square foot was 1.3K psf.
5. Gurney Paragon – Located in Gurney Drive, Gurney Paragon is a mixed-use development that includes a luxury high-rise condominium developed by Hunza Group. It offers 564 units spread across 43 storeys, with unit sizes ranging from 1,200 to 5,400 square feet. The condominium offers a wide range of high-end facilities and services, including a swimming pool, a gym, a sauna, a children’s playground, and 24-hour security. The project was completed in 2010, and the estimated price per square foot was 1.1K psf.

It’s worth noting that property prices can fluctuate and these figures may not reflect the current market conditions.