600/sf at this location??? Are you kidding?

Wow…. nearly fainted!

Don’t faint yet until you see people queue 1 week earlier for the launch, and very likely most of the good units are already being taken up by bulk buyers, staffs etc by that time.

The rest of the area notably Pavilion (latest to launch) is around 300-400psf…but probably this is having unblock seaview.

If this is the case, I believe the upcoming reclaim land project in front of Baystar apartment (in front of Queensbay mall) and Bayan Mutiara will easily cost >RM600/sqft.

Why so attractive for this project that can cost us >RM600psf?

Really unfair for those low middle income people. Furthermore, it will push up the house pricing in surrounding area.

I believe the speculator is higher than the genuine buyer during the softlauch of this project.

Asia green purchased a plot of freehold land at queensbay from CP land at >400psf. So you bet the future development there will not cost anything <=800psf. Mostly likely are high rise, high dense studio suites to clinch as much profit margin as possible.

Southbay city is an award winning waterfront developement, it is well publicised, and reported in major financial magazine and newspaper. Not only within Penang, pretty sure it will attract interest from outer-states and overseas as well, furthermore the units are limited, it is not a surprise it will be sold out immediately after launch.

At this location near industry and cargo way, I don’t think any oversea buyer will be interested.

Type A (2 bedroom) : Indicative 1,030sf .. how much per sf?

RM650psf, so this unit can be RM650k++. Freehold, commercial title.

@BB
Don’t faint yet, wait till you see most of the units has been grab.

I doubt it will be hot selling til have to queue. Speculators buy low sell high. With more than 600psf I doubt there is enough room to appreciate after OC. With 2012 economic outlook, speculators will even be more cautious. Unless something big fall on Penang island, there are not enough economic activities to support such high price at such location.

My friend purchased an unit at The Light Collection II for 570psf just less than a year ago, ~1400sf, freehold, residential title, 2 car parks, semi furnished with kitchen cabinets, air-cons, and heaters. Location wise I think The Light is at least comparable or better than Soutbay, and there will be integrated commecial development in the future as well. So, either my friend was lucky, or southbay plaza is just simply over-priced, its for you to judge.

I have been waiting for this project for years, from the starting indicative of 400psf to current >600psf, its trully disappointing. Icon residence is another one.

Latest news is RM800 per sqft

heard it will be launching in 2 weeks time, price likely to be >700psf. Sounds a bit over, perhaps they are trying to benchmark the price with E&O, 118@island plaza, jazz residence, by the sea, sunrise@gurney, mansion one, light collection III and etc. On whether this price is justifiable..now definitely not, guess they have factored in the future 2nd bridge, and the successful whole southbay development into the whole picture.

I still would be expecting a brisk sell anyway, in view of mahsing’s reputation, they have a way to make it successful. I am tempted but my sub-conscious tells me otherwise.

Tower A preview next weekend. Pay a visit to check the pricing & layout.

Tower A preview 7&8 Jan 2012. Latest is price starts from <RM600psf. Anyone can confirm?

@sclhing
Oh. they revise their price to below RM600 psf?

Below RM600 per sqft the smallest unit also RM600K

hi, called to mah sing office. 10% rebate, developer absorb interest, semi-furnished, free legal fees. cool!

worth to buy if you are rich ppl and dunno where to keep your money.. i meant it.

for engineer and FIZ workers…better back off

speculation for high rise pricing to reduce in 2012.

yup, how many engineers or managers want to buy 600k condo (smallest unit)??

better go for landed property if more than 600k!!!

some more need to pay monthly maintenance fee.

@sclhing
I just called them up, they said start from 800psf…. I was like, wow!

Just studied the location on where the project site might be, is on top or beside existing War Museum. Not sure you guys believe it or not, but might afraid the residential over there will be haunted.

@Jeffy
Hi. Yes. You are right. Went fishting there before, everyone remind us to leave the area before 7pm. Heard the place is ‘dirty’

@Jeffy
I went to their office yesterday & seen the show units & the sales person show me the pricing as well. It’s not from 800psf, it’s approximately <600psf onwards.

For block A which is going to launch this saturday, airport view unit sells at RM570 after 10% rebate while seaview unit sell at RM630-RM650. Each floor will be increased price by RM8k-10k depending on the number on that particular floor

The seaview, corner unit at ~1100sf is selling at ~800k. First 5% discount will be given on the deposit, which means you only have to pay 5% or 40k as entry cost. Subsequent 5% discount during the first progressive payment. Thirdly you can choose either to go for further 5% discount or zero interest during construction. Considerate total discount of 15%, the start price is around 600psf for seaview units.

Price wise sounds reasonable for a almost fully reno/furnished service apartment in a waterfront integrated development. The only problem is that the discount is given in the form of cash rebate, the “On Paper” or S&P price will still be showing price before discount, which means higher loan commitment, more difficult loan application and higher interest if hold for longer period.

This package is definitely designed for those investors who are looking for lower entry cost, and flip upon completion. Coupled with bank loan with zero lock-in period (such as islamic loan), this sounds even more perfect for them.

Not to forget that with each increase in floor level, the price raises by >=8k, which means higher floor units will command a singnificantly higher price. If not mistaken, they will open for staffs first tomorrow, likely-hood is that the lower floor units will get snapped out first and left the more expensive units for public to savour, lets see.

I am comparing right now whether should go for The Wave @ Times Square or southbay, do share your views if any.

@sbp
If I were you, I will opt for Southbay than The Wave due to the location & the developer.

definitely the wave has better prospect that this Southbay…..

At the moment Batu Maung area is still considered “rural”. Look at the surroundings. It will take many many years of rapid development to be on par with Gurney, Tg Tokong or even QB Mall are. The selling price must have factored in all the future growth in that area which is still unknown. Just 2nd bridge and the so-called high end shops at SB Plaza will not attract foreigners. You need more than that. Like international schools, hyper market, recreation centers etc. we will hv to see any brave investors jumping into this boat.

Anyone purchase for this project?? Pls share.. I going to book 1 for investment

@thunder
I disagree with you. Southbay has better potential than The Wave.

Bad choise, bad move, bad taste

hi, anyone know what is the sale situation ?

i went there about 3pm just now. still more than 50% units available. Some units taken by Mah Sing staffs. mostly taken unit are seaview and 1,100sqft.
overprice project.

update :
i went there about 3pm just now. still more than 50% units available. Some units taken by Mah Sing staffs. mostly taken unit are seaview and 1,100sqft.
overprice project.

Overpriced or crazily priced?

This is kind of price is beyond my budget and comprehension. I would safe money to buy landed property in future

I heard Tesco will take the entire retail podium. Correct?

Rec SMS from mah sing : Due to overwhelming response to Tower A of SOUTHBAY PLAZA, Tower B will be opened for preview today from 2pm. Show units available for viewing

Tower B only open 50 units. As of 2:30pm, only 5 units sold

Update,
if there are more than 50% available….it means after deducting bumi units and units reserved by managment….the possible selling rate is around 20% – 30%….Not good for a project that do so many years of marketing…..not forgetiing the drop off rate. After achieved good biz for the past few years…all developers are too much !! on the pricing.

I have finally decided to book one at The Wave instead…Soutbay was still my first choice but the marked up s&p price really proven to be too much for me, even to go for 70% LVR, as I still have plan to purchase a landed for own staying recently. The Wave at least still have at least 1.5 year buffer time for real s&p, and of couse the design does catch my eyes pretty well, nice.

Southbay is better than The Wave… interm of investment.

Also take note that if the commercial is sold and not lease, you will expect all sorts of tenants…

too expensive..Not worth…I’d rather but in Tanjung bunga…
this is from rm761k for a 1100sqf unit. 1 car park only.additional is rm26k. and maintenace fee is rm0.30/sqf…
if to stay and not because its near to working place, better go for Tg Bunga,Alila horizon example, now sub sail with sea view only rm800k for 1350sqf.2 carparks. maitenance only rm0.20/sf

@Mike Mah Sing set too the price too high, for own stay still ok, for investment not worth it. I prefer to buy landed property in mainland, RM800k can buy a bungalow.

Not sure how reliable but was informed there is a transaction cross hand at 900psf recently on subsale. That fast?

600psf I also won’t buy at this period of time. Don’t even mention 900psf.
Southbay residence is only 300-400psf.

Please don’t buy southbay property anymore in penang. Their rules & regulations in the deed of convenant is so loose that they are now already more than 80 over foreign workers staying in southbay residence. Imagine southbay lagenda and southbay plaza is full of foreign workers staying in the so called “luxury residence”. How ironic. I’m very disappointed with some of the owners/speculators/investors that have no regards to other owners feeling.

@lamgh
I heard they moved out alredi

You are right.Batu Maung is still relatively on progressive development situation and it will take many years for that area to boom.By the look and their launching,very impressive indeed.Of course if you have the Cash and like the area,why not but not for me with that price.The best location and most preferred area should be around Gurney Drive,Pulau Tikus,Tg.Tokong,Tg Bungah and now even Batu Ferringhi by the sea.It has been so popular over the years already.

Yes indeed

John :
You are right.Batu Maung is still relatively on progressive development situation and it will take many years for that area to boom.By the look and their launching,very impressive indeed.Of course if you have the Cash and like the area,why not but not for me with that price.The best location and most preferred area should be around Gurney Drive,Pulau Tikus,Tg.Tokong,Tg Bungah and now even Batu Ferringhi by the sea.It has been so popular over the years already.

but that place is already 1mil ++, here still relatively low

Did anyone notice Type B layout? The bathroom is mechanical ventilated. No good.

went visited malaysiaday holiday, sales person mentioned tower A & B fully sold out.

this project is overprice at batu maung. i think mah sing target is for foreign investor. the penangites won’t prefer to stay that area.

is this now cheaper since PWC laucnh?

Q :
this project is overprice at batu maung. i think mah sing target is for foreign investor. the penangites won’t prefer to stay that area.

you might be wrong after 2nd link build

Wow, their new launch ” The Loft” @ RM900psf ?
This place is going to boom like no body bsuiness
especially when the 2nd bridge ready by Sept this year

You may contact me for any enquiry. I believe I can provide you the best loan package for this project. Thanks 012-4597209

Anyone knows the project progress?

Went in Dec. Bldg at level 4

IKEA is coming to Batu Kawan. A mere 15min from Southbay.

another trick to push sales ?

IKEA coming to PNG will increase Property price especialy at Bayan Lepas area? i think should be got impacted. Batu Kawan will be another good place to invest.

I hope it is true. If Ikea do come, it is good!

I don’t think IKEA will open their branch in BK. Too low density and take time to develop.

confirmed dy.. today Signing ceremony by LGE… just google it

@true
@Hush hush
@Chocolate

Try googling. CM LGE just announced.

Just announced. Can Google if you don’t believe.

Just read the news actually..feel shock for the news but exciting now..at least 50k price increase for Bandar Cassia property tomolo.

true :
another trick to push sales ?

Another trick your head la.. Outdated..

okok, hope is true la, kanne, some times dunno big fish play apa trick, too many trick they play just for hook water fish, really need to see only believe for such news…for big fish everything can change overnight just kacang only

Best area a prime after 2nd pg bridge.

@Ooi Yes. This location now become so prime

I just realize teluk kumbar area still have nice beach after 2nd bridge open. Believe this area will better than guyney in future as new generation start to move over there.

@Kam
Kam, the problem is a lot of residence in this area is migrant from other states. They do not care about wellbeing of Penang.

Teluk Kumbar becoming Gurney?…Hahahahaha…..wohohohohoho….tummy ache liao!!! Hello!!! Pls wake up ya!!!

Place that have industrial area can never becomes shopping heaven. Wake up la ppl. Don’t get conned by developer marketing strategy. Do you see industrial area near bukit bintang, one utama, mont kiara, gurney drive, orchard road, etc….?

@NEO

Look at Queensbay mall which is just opposite FTZ, doing better than Gurney plaza now in such a short time… you need to open your eyes…

Why industrial area cannot be a shopping heaven?

1. It provide a good buying power at that area, especially for Penang where it is the second economy activities after tourism. 25% of Penang work work in industrial or related field.
2. FIZ is more towards higher end industry, mainly electronics. It is different from Shah Alam or Tuas where many heavy and chemical industrial also present there, some required big area and causing lower population density. If you check out the map, FIZ is not too big, but able to provide sufficient job opportunity.
4. Bisides, FIZ is a seafront industrial area, with a beach in front of it, of course, not a nice one. With seafront location, definitely a good place to have a shopping heaven. A good example is the success of QBM.
3. The Penang population is moving south for the island and moving to mainland as general for Penang state. for the next 10 years or more, Bt Maung and Bt Kawan is the area with high growth if no major economy crisis within the period.

Anyway, let’s see what the Southbay plaza can do.

Good luck then. Maybe i am a short term investor who does not have much patient on the long period of ROI (the so called “potential high growth in future”). So far, investing in prime areas one after another has never fail me.

And also i don’t like to invest on something which is already “future price” but current situation is not yet the future condition.

I admit that I benefited big time also in investing non-prime area like puchong (even though it is not frequent) .

During that time, it is my own observation with a group of friend who see potential of puchong and during that time, the price is cheap.

Don’t let other to paint the picture of the potential growth of one place. The painter will charge you heavy on the painting fees..

NEO :
And also i don’t like to invest on something which is already “future price” but current situation is not yet the future condition.
I admit that I benefited big time also in investing non-prime area like puchong (even though it is not frequent) .
During that time, it is my own observation with a group of friend who see potential of puchong and during that time, the price is cheap.
Don’t let other to paint the picture of the potential growth of one place. The painter will charge you heavy on the painting fees..

Since you are so expert, what do u think about Rawang and Semenyih or any potential area? Talking about the place already developed now is useless la..

@NEO,

You are very wise….:)

@HK Lim

Hahahaha……you really don’t know what you’re talking about!!

@Hemsley

Southbay?? Forget about it lah. Mah Sing is getting ready to pull out of this place. They have realized it is simply madness to develop that area given the difficulty in working the rock hills. They see no future there. They are going to Batu Kawan. For those who bought properties there, too bad lor, just keep for own use lor. …:)

@MonsterInc

Why? You must be so happy with your “oldtown”… good for you lor… hahaha…

@Chocolate

True. Investing in already prime area is not that difficult, just the money matter.

@NEO

You don’t like to invest on something which is already “future price” but current situation is not yet the future condition.

Emmm….. you already invest some of your time and effort in the forum with title Southbay Plaza, which is already “future price” but current situation is not yet the future condition.

@MonsterInc

Really? Interesting. The only reason I see the failure of Southbay could be the sky high so call “future price”, as what NEO claimed. We small citizen only watch the show and waiting for a new shopping mall nia, option to QBM.

But when you believe Bt Kawan ba cen developed, why not Bt Maung?

@Hemsley

The question is not the development. The question goes back to NEO’s point, Mah Sing is already pricing it’s products in Batu Maung at “future price”, so even there’s development, there’s not much juice left. Mah Sing is already squeezing away lot’s of juice now.

Whereas for Batu Maung, the juice has yet to come. Developers can’t squeeze away the juice yet coz it’s not ripe. So we must “get our hands” on the green papayas, so that we can enjoy the juice when it’s voluptuously ripe…….oooohh….slurp!…:P

Correction – sorry ah!……

Whereas for Batu Kawan, the juice has yet to come. Developers can’t squeeze away the juice yet coz it’s not ripe. So we must “get our hands” on the green papayas, so that we can enjoy the juice when it’s voluptuously ripe…….oooohh….slurp!…:P

@MonsterInc

Not need to apology la… if you think bt kawan papayas still very green very juicy… get your hands on them lor… I guess your hands also full already la… cheap talk… hahaha…

@MonsterInc

What ever cheap or expensive, it came with reasons. I believe Bt Kawan need at least ~20 years to be what is it at Bayan Baru/ Bayan Lepas in general and ~10 years as Bt Maung in specific. So if you follow NEO comment, Bt Maung is a non prime location relative to Gurney, then Bt Kawan is a non prime location relative to Bt Maung. Sri Tanjong Pinang also a non prime area relative to Gurney before E&O, so as Jelutong water front before IJM and QBM area. You see, prime area can be created, and the center of Penang is actually shifting south, and east in future. I have a better faith in Bt Maung – Teluk Kumbar area than Bt Kawan.

@Hemsley

Haha….this relative to that.., that relative to this.., what, you think algebra ah?…:)

Aiyo, very lazy to explain to you lah. You want to hand your money over to mah sing, go ahead lah. Some people like old dry papayas, i also cannot help….:)

Just watch out. The fact happened must have cause. Batu maung, teluk kumbar, sungai Batu until Gertak sanggul will be develop better than others area. That’s why Mahsing, sp Setia, Sunway, or even e&o have bought a big piece of land there. Small potatoes just keep quiet. It is for giant to develop the south to move the next generation to south.

Of course you are blaming. you are not in their target audience list. South bay city is means for international city with big plan to develop Penang south. U small potato where can understand. @MonsterInc

Agree with you. They target a lot mm2h and other states buyer. But standing from Penang point of view. The south need to develop. If without south bay city, small developer go in south will not make south happening. Face the truth and the trends now move to south. @JT

Hi All, I had 1 privilege vouncher worth RM5k to sell at RM1k as you can save RM4k on purchase price. This only can use for Mahsing project and valid till 31t August 2014. Those interested pls leave ur contact here. Thanks
1)This voucher can’t use as downpayment.
2) Can’t exchange for cash.
3) Can’t use for buyer get buyer scheme

@Kam
haha….i like your reply…he tot those super rich investors are having lower EQ than him..only he is the smartest go to batu kawan investing…clap clap…

@david
pls email me if you still have the voucher thx

Is there any units left? Residential title?

Heard that OC already passed ?

is the shopping complex will be ready together?

what’s the market value now ? any rental potential there ?

250k now marketing price..

BB :
600/sf at this location??? Are you kidding?

Selling at 800pft now.

already close to O.C but MahSing still cannot finish selling ? OMG

MS was selling future when launching. Now those flippers hv difficult to sub sell now unless they willing to sell with loss….

@Hppy

Will see actual transacted price soon. Don’t know whether flippers willing to let go at < 550psf.

Lelong 1400+sqf @ ~rm450psf west/airport facing

Really this low price?

what is going on with this super-pricey condo? During CNY, the developer still selling RM1.05M for leftover units

Got 1700+sqf oso lelong..at bout 1mil.. probably sea view

Any small unit for sales? Please contact me
My friend owned a unit there and visited him, to be honest, the sea view from balcony are totally awesome, airport view are stunning too! Two Thumbs up for the facilities. That time he bought around 7xxk, totally worth the price!

When is the construction start?

@WonderWhy
My unit is for sale. Can Email me.

is there commercial area there still dead ?

practical :
is there commercial area there still dead ?

Yes

after i purchase this i feel regret … and now the construction completely done but the price havent rice yet…

Interest buyer can email, full negotiation.
Sea view, 1111sqft 788K, 2 cars parks.

@Ricky

Lucky it did not drop. Many project prices in Penang drop more than 10% some almost 15% if you read the papers yesterday.

@Ricky
You should have known MS is selling future price during the launching time….

sjpang :
Interest buyer can email, full negotiation.
Sea view, 1111sqft 788K, 2 cars parks.

boy, better give full discount before too late and burnt yourself. property market so slow now.

my all mighty alla dennis, i want to kiss you foot and ask for pay rise.

Any one know what is the maintenance fees?

Can anyone advise me what’s the TNB rates for Southbay plaza B?
Residential rate I believe.
Then, what’s the water reading rate in this building also.
Very sad of me, my agent asked me find out myself. this agent name Albert Khoo.