The Penang state government has expanded its 5% housing discount initiative to all buyers of unsold completed properties, commonly known as overhang units. Previously limited to selected groups, the discount is now available to all purchasers, not just first-time homeowners.

Chief Minister Chow Kon Yeow said the decision was unanimously approved during the state executive council (MMK) meeting on June 18. The initiative remains under the existing MADANI Ownership Campaign (MOC) and will be in effect for one year.

“This reflects our commitment to reducing the number of unsold completed housing units in Penang,” Chow said at a press conference in Komtar. He noted that all previously announced conditions still apply, including that only developers registered with the Penang State Housing Board (LPNPP) are eligible to offer the discount.

Eligible properties must be confirmed as overhang units, with verification by the National Property Information Centre (NAPIC). Currently, there are 2,796 such units across various housing categories in the state.

Chow expressed hope that the broader discount will encourage homeownership, help clear the property overhang, and support participating developers.

Also present at the event were Jason H’ng Mooi Lye, chairman of the Local Government, Town and Country Planning Committee, and Seberang Perai City Council (MBSP) mayor Datuk Baderul Amin Abdul Hamid.