30 most expensive high-rise residences in Penang (2025)
Penang’s high-rise residential market has long been a focal point for both investors and homebuyers seeking premium urban and waterfront living. The latest ranking of the 30 most expensive selling high-rise residences is based on the average transacted prices per square foot (psf) recorded in 2024 and 2025. Importantly, the list only includes completed projects with at least 3 recorded transactions within the period, excluding any residences that are still under construction or only marketed by developers. This provides a clearer picture of what buyers are truly paying in today’s market.
Gurney Drive: The Island’s Platinum Mile
Gurney Drive remains Penang’s most expensive stretch for high-rise living, led by Marriott Residences (RM2,069.83 psf) at the top of the list. Just behind it is Sunrise Gurney (RM1,872.07 psf), an established luxury project that continues to achieve exceptional prices in the resale market thanks to its prime frontage and scarcity of new supply along this iconic boulevard. Other premium entries include Gurney Ville and Gurney Paragon, underscoring the area’s lasting appeal among affluent locals and foreign investors alike.
Seafront Prestige in George Town and Seri Tanjung Pinang
Waterfront exclusivity continues to drive prices at the city’s edge. Shorefront Residences (RM1,318.64 psf), located along Lebuh Farquhar at the fringe of George Town’s heritage core, offers panoramic channel views while retaining cultural proximity—an exceptionally rare combination. Further north, Straits Residences (RM1,287.71 psf) and Quayside Condo (RM1,056.14 psf) anchor Seri Tanjung Pinang as a long-standing premium township, where marinas, retail amenities, and an established expat community reinforce its position as a seafront lifestyle hub.
Lifestyle Hubs and Branded Developments
Projects with strong developer branding and integrated lifestyle concepts also command premium pricing. Alila 2 (RM1,238.60 psf) leverages hillside exclusivity, while Setia V Residences (RM1,192.94 psf) appeals with large formats and premium positioning. In the south, Queens Residences Q1 and Q2 highlight the rise of Queens Waterfront as a new urban destination, blending retail, marina facilities, and easy bridge access. These schemes show that branding and master-planning can rival geography in sustaining high values.
The Role of Design and Density
Another factor driving premiums is exclusivity through scale and design. Moulmein Rise (RM1,242.31 psf) and The Cantonment (RM1,191.40 psf) illustrate how boutique, low-density developments in mature urban enclaves can achieve values on par with larger waterfront townships. Buyers here prize privacy, exclusivity, and design-led living as much as location.
Southern Growth and Connectivity
The southern corridor of Penang island is emerging as a competitive hub, with projects appealing to professionals working in the Bayan Lepas Free Industrial Zone. Muze @ Penang International Commercial City (RM875.05 psf) represents a new generation of integrated mixed-use precincts, while Quay West Residence (RM846.15 psf) gains traction through its adjacency to Queensbay Mall and Queens Waterfront, along with direct expressway access to both George Town and the airport. This underlines how connectivity and retail integration are reshaping perceptions of value beyond the island’s traditional prime zones.
Established Names Holding Value
Several established projects continue to perform strongly in resale transactions, reflecting both location and reputation. By The Sea (RM1,092.01 psf) in Batu Ferringhi caters to resort-lifestyle buyers, while Middleton Condo (RM1,034.54 psf) in Minden Heights appeals to families seeking exclusivity near Penang’s education belt. Legacy addresses like 1 Tanjong, Waterside Residence, and even older schemes such as Bellisa Court demonstrate how limited supply in mature neighborhoods helps sustain long-term value.
The data highlights that Penang’s high-rise market remains highly segmented. Timur Laut dominates the upper tier, thanks to its established seafront addresses and branded developments, but Barat Daya is fast catching up through projects tied to Queens Waterfront and the PICC precinct.
– Ken Lim
(Founder, PenangPropertyTalk.com)
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1 Persiaran Gurney, one of the oldest condos in Penang (~40 years old), is still commanding a respectable ~RM800psf on average.
Quayside potential to soar to 2k psf
@LL
Completely misleading.
Quaywest residence is very much well appreciated in subsale with great life style offered here.
We purchased of 300k & now in 600k. 100% appreciated.
Fera Courtyard 3.5M & expected to get 7M later? Better wait long long drop from sky.
@LL
I am shock to see quayside only RM1000/sqft!! My uncle already paid RM1400/sqft many many years ago buying first hand from E&O. Maybe luxury market not growing fast enough to absorb the supply coming in when developers keep building luxury condos?
@fiona
actually I meant to say QuayWest. Sad to hear QuaySide psf dropped
@LL
wait till the land reclamation in front of Quaywest is completed and high rise appear. the value will drop
@Bei Fox
In penang, as long as you dont buy at too high a price, you wont suffer capital lost. Those who bought overpriced properties from developer, like Quayside Andaman ~RM1400/sf (that was 8-9 years ago, considered to be very very expensive during that time), or City of Dreams (above RM1200/sf 8-9 years ago) are all suffering losses today, not only in terms of asset value loss, but also negative cash flow if rented out.
is your uncle come from outta space or nation of shrek ? the first launch of Quayside condo is RM700 sqf++, for 1000sqf selling RM700k++ during first ever launch.
Don’t create a false comment using my name
Quaywest keyboarder
@Minion
Now is close to 850K!