About RM1.18m per sale
TRANSACTION DATA · H1 2026
Start with completed sales. Then return to the building.
These figures come from NAPIC’s “Pre-war Shop” category for Penang’s Northeast District. They show the size of the market, not the value of one address.
THREE HALF-YEARS
A trading market, but still a selective one.
About RM1.60m per sale
About RM1.46m per sale
Scope: NAPIC “Pre-war Shop” transactions in Timur Laut. NAPIC Pulau Pinang Transaction Table H1 2026 · Tables 6.7 and 6.8.
RM1 MILLION AND ABOVE
20Northeast Penang recorded 20 pre-war shop sales above RM1 million in H1 2026.
That was about 39% of the period’s 51 sales. The price band does not mean the buildings were comparable in size, street or condition.
LONGER VIEW
248A published study analysed 248 valid pre-war shophouse sales.
The 2004–2018 study found that land area, floor area, transaction year, storeys, position, floor material and authenticity influenced value. Read the study record.
HOW TO USE THE DATA
The average starts the conversation. It does not finish the valuation.
Find genuinely comparable sales
Prefer a similar street segment, storeys, area, tenure, use and condition. “Pre-war shop” alone is too broad.
Read the lease separately
For a tenanted building, confirm collected rent, remaining term, deposit, repair duties and tenant use. High rent alone does not mean a strong lease.
Put works into the entry price
Roof, timber, damp, services, fire safety and approvals can make two similarly priced buildings very different investments.
Think about the next buyer
Street, documents, use, condition and management burden influence how many buyers can take over later.
BEFORE USING THE AVERAGE
Three easy ways to misread the market.
Do these figures cover only the UNESCO Core Zone?
No. NAPIC reports the “Pre-war Shop” category across Penang’s Northeast District. It is not a Core Zone or street-level average.
Can the average price value one shophouse?
Only as broad context. Street, lot position, land and built-up area, tenure, use, tenancy, condition and required works still shape the actual value.
What is the difference between asking and transacted price?
An asking price is the owner’s advertised expectation. A transacted price records a completed sale. They should be read separately.
Looking at a building? Send the address and details, then compare the right sales.
Compare this propertyPLACE THE SALE BACK IN THE BUILDING
A useful comparable is more than the same postcode.
Start with lot position and access
Corner position, frontage, rear lane and a separate upper-floor entrance can make nearby buildings support very different occupiers.
Separate tenanted and vacant sales
A tenanted sale includes an occupier and current income. A vacant building passes reletting and works risk to the buyer; price per square foot alone cannot reconcile them.
Read the sale date with condition
The transaction figure does not show whether the next owner repaired the roof, timber or services. An average without condition context is a prompt for questions, not a valuation.