GEORGE TOWN: Questions have been raised over foreign buyers allegedly acquiring lower-priced homes in Penang that are meant for locals.
Izhar Shah Arif Shah (PN-Seberang Jaya) said official data showed Chinese nationals owned 365 houses in Penang in 2025 with a combined value of RM150.2mil, bringing the average price of the units was RM411,506 each.
He said the figures were based on a written reply given by state housing committee chairman Datuk Seri Sundarajoo Somu to Ong Ah Teong(PH-Batu Lanchang), tabled during the First Meeting of the Fourth Term of the 15th Penang State Legislative Assembly.
Izhar Shah claimed the amount was below the state government’s minimum price threshold for foreign property ownership.
“This average property price is highly irregular and completely unacceptable.
“It falls far below the Penang state government’s established minimum price threshold for foreign property ownership,” he said in a statement Tuesday (May 12).
Izhar Shah questioned how foreign buyers could allegedly purchase homes in lower price categories.
“These price brackets are supposed to help local Penangites secure roofs over their heads.
“Are there loopholes in our legal and property systems that are being exploited?” he said.
In comparison, he said 15 homes worth RM18.2mil were bought in 2026 by Taiwanese in Penang with an average price of about RM1.2mil per unit, and 48 homes worth RM25.4mil in 2025.
Izhar Shah urged the state government to investigate the matter and provide a transparent explanation.
He said the authorities should also assess the impact on locals facing rising living costs.
He called for stricter enforcement and measures to close loopholes in the system.
