GEORGE TOWN, June 18 -- The Penang government is now giving a 5 per cent discount to anyone who takes up completed but long unsold homes in the state.

Chief Minister Chow Kon Yeow said the decision was made today to help reduce the number of overhang properties in Penang.

"There are 2,729 overhang units in Penang," he said at a press conference, referring to unsold homes that have been completed for more than nine months.

These homes have a total value of RM2.04 billion, based on data from the National Property Information Centre (Napic) for the first quarter of 2025.

The discount is part of the Madani Ownership Campaign and will last for one year.

It only applies to projects by developers registered with the Penang Housing Board.

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