Penang Expands Property Discount to Boost Market

Penang Expands Property Discount to All Buyers George Town, Penang, Malaysia – In a move to boost the local property market and address social equity, the Penang state government has announced an expansion of its 5% property discount program. Initially launched for the Indian Muslim community, the discount will now be available to all buyers in the state. Chief Minister Chow Kon Yeow explained the decision, stating, "We received considerable feedback following the initial announcement of the discount program for the Indian Muslim community. This expansion reflects our commitment to social justice and economic growth." Dato' Seri S. Sundarajoo, chairman of the state's Housing and Local Government Committee, added that the initiative aims to stimulate the property sector, specifically the sale of unsold units. He is collaborating with developers to ensure the policy's smooth implementation. The 5% discount is effective from June 1, 2025, to May 31, 2026, and applies to both residential and commercial properties. This inclusive approach is expected to benefit a wide range of buyers and contribute to a more vibrant property market in Penang.