The Promenade
The Promenade, a mixed development by Lion Group, strategically located within the established township of Bayan Baru, Penang. Comprises 2-5 storey retail shops amounting to 37 units at its base, called The Promenade and 336 units of designer suites called The Promenade Residence. This development is next to Hotel Seri Malaysia and D’Piazza.
The 37 units of commercial lots comprise:
- 4 units of 5 storey shoplot (Lot 1, 15, 16 and 19)
- 2 units of intermediate 5 storey shoplot (Lot 17 and 18)
- 13 units of 4 storey shop lot (Lot 2-14)
- 17 units of 2 storey shoplot (Lot 20-36)
- a semi curvature unit at 5th floor (Lot 37)
The 7th floor to 27th floor are residences serviced by 5 lifts including 1 service lift. All units are internet-enabled (high speed broadband), Astro Beyond cabling, complete with internal air conditioning piping and instant water heater. There are 16 units of designer suites per floor with 9 different floor plans.
- Type A: 42 units 847sf (2 bedrooms)
- Type B: 21 units 855sf (2 bedrooms)
- Type C: 21 units 979sf (2 bedrooms)
- Type D: 42 units 977sf (2 +1 bedrooms)
- Type E: 63 units 1,011sf (3 bedrooms)
- Type F: 42 units 1,111sf (3 bedrooms)
- Type G: 42 units 1,294sf (4 bedrooms)
- Type H: 42 units 1,525sf (4+1 bedrooms)
- Type I: 21 units 1,651sf (4 + 1 bedrooms)
1 car park is allocated for each unit and additional lots can be purchased from RM25,000-RM28,000. Maintenance fee is proposed at approximately 30sen psf including sinking fund.
Project Name : The Promenade Residence
Location : Bayan Baru, Penang
Property Type : Mixed Development
Built-up Area : 847 sq.ft. onwards
Total Units: 336 (Residential), 37 (Retails)
Land Tenure : Leasehold
Developer : The Lion Group and T.J. Group
Indicative Price : RM350,000 onwards
Contributed by reader – 09/11/2012
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Contributed by reader – 28/03/2013
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Contributed by reader – 16/05/2013
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Contributed by reader (Update 03/04/14)
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another new project? i can smell something is not right for penang properties now….no offence to anyone…just my 2 cents….
“wait and see” is the approach now.
wait and see the property price increase? LOL just buy whatever you can before you can’t even afford any…
ya agree…as long as u able to loan then buy property.. even property bubble also will not effect so long period…. how to register?
PenangLang, i had registered 2 weeks ago. All must deal with particular property agent which assigned by the developer itself. in another word, there is no direct deal with developer marketing staff.
I forward her hp to you.
PenangLang, i had registered 2 weeks ago. All must deal with particular property agent which assigned by the developer itself. in another word, there is no direct deal with developer marketing staff.
I can forward her hp to you.
I have paid RM10k booking fee. If you are interested, please let me know. My cousin (agent)has deal with developer and able to secure unit for you. I heard unit is selling fast.
hello ah keat, would you mind to share your cousin’s cellphone number with me.. i’m very interested in buying a condo for own stay..my number- 010-2480970
i am interested to buy for own stay.could you pass to me the developer or agent contact for booking?
Now open for Registration,
If interested pls email me Ur Full Name & H/p No
My email : moh_loon@hotmail.com
will get back with u asap, TQ
Hi, fyi my brother is the real estate agency manager and has direct deal with this developer. Buyer can get early bird package with 10% rebate (10% discount in other words) and choose your good unit with confirmation from developer. To find out more, please email aaronlee3371988@gmail.com.
how much is the unit,price range after discount?
Leasehold project, don rush later hard to let go subsale lo
Sound like Moron hehehe
leasehold and commercial title?
rm0.30psf maintenance fee….wow like luxury condo level!
Expensive the maintainance fee… around 300+ per month
Triple blow, only sick person will go buy . Leasehold, commercial title, high monthly maintainance fee. Moron business will drop lo
Direct sales method with commissions… No wonder lots of hard selling here.
The company is not investing on their on sales team but outsource to property agent mean this will be hit and run project, first and last project lo. Future complaints will all go to drain lo
selling at 400psf and some more leasehold project…. and the maintenance is 0.25psf… only “super clever” buyers go with it.
yes, it is expensive even it is a commercial type, at least for me….
anymore units available?
btw,to the rest who were giving negative feedback,I respect your comment and wish i cld agree too but could you care to share wherelse can we get a new condo now for less than 500k,excluding non prime areas such as sungai ara,teluk kumbar,bayan lepas,relau or batu feringghi?
Cannot find then don buy lo, look else where, got cash you scare cant find a good one? why must you open up your backside and ask for developer come to rape you for this case is rape your money lo hehehe
@new
basically u already excluding all the area in penang island… How abt farlim, air itam and Batu lanchang, i bet u will think that these place sucks…. so, don’t “hiam dang hiam sai”…. if u want something BIG+CHEAP… go to balik pulau or mainland… If u want GOOD VIEW+GOOD QUALITY+CHEAP+CHEAP MAINTENANCE+LOW DENSITY+GOOD LOCATION in towns in penang, then u have to accept that those projects are leasehold… (which has no-value in penang island)
@new
If u really wanted to buy the promenade, i would recommend that u go and buy THE ELITE, fierra vista or golden triangle if the have left over units… freehold, cheaper, cheap maintenance, good location but not as strategic as the promenade….
There are still lots of choices with 500k in subsales market, good location and freehold title… eg, Sg Nibong, Sg dua, Bukit Gambir… & etc.
kam sia kam sia for the replies
totaly agree
If u prefer prime location and don’t mind with leasehold title, 500k is more than enough to get a decent unit in QB area. Just need to look around, do some homeworks then make decision wisely.
Now let’s talk more about this project, what is the selling point to attract buyers? Anyone mind to share?
Attention!
New profitable project at Bayan Baru
(beside D’Piazza Mall)
Superb best location will build the new 36 unit Shop Office &
Modern design Condo from 847-1525sf.
This project is leasehold and will be jointly developed by The Lion Group and T.J. Group
-Free legal fees on SPA, stamp duty, disbursement on loan facilities are provided.
-Developer Interest Bearing Scheme(DIBS) are provided.
Registration is now open. Please come to our office
1-2-1, The Gallery ,
Medan Batu Lanchang 11600 Penang.
ANDY TAN 012-4775275
From: PRIMA HARTA
@andy
pls stop
advertising here.. we are fed up of those advertisement from prima harta… we are here to discuss abt the advantages and disadvantages of this project, not for self promoting … piss off
Lets get the ball rolling.Lets list advantages and disadvantages..those keen to discuss professionally,stay tune on this track.Lets compare price with other New projects yet to obtain OC.
I also received sms from agent promoted this project. According to the agent, all good view almost fully book. I am interested with 1011sqf at mid high floor and the price around RM490 per sqf.Even early bird discount 10% also around RM440 per sqf. May I know the price is reasonable??
Is it good for investment? Anybody know well of the developer track record?
one side facing sea view (For high floor) whereas another facing sunset^^^
facing sunset nice what, can see sun down!
haha….i was thought too, but whole will like oven afternoon.
those who want to buy seaview facing unit, better buy as high floor as possible, because there is another piece of vacant land (at another side of Hotel Seri Malaysia, directly in front of your unit), IF in future another high rise build at that land, gone your seaview.
those who want to buy sunset unit……..what I can say is….GOOD LUCK and prepare for the oven-like temperature….. it’s direct sunset….no joke…..will hot until u ki-siao…
Forget about seaview at that location. If want seaview, this is not the location u want. No point to spend a premium just for partial seaview and may easily be blocked by other developments in near future.
how many percent booked?what is the main selling point of this unit if there is any?
@ 50% Booked.
If interested pls email me Ur Full Name & H/p No
My email : moh_loon@hotmail.com
will get back with u asap, TQ
why should we go tru you? why can’t go to developer directly?
will stll go up..
The main selling point is it is the latest and most expensive projects around that 500m radius, and also nearest to the majestic mosque too.
New Condo,any units still available for less than 400k?
16 units per floor, leasehold, commercial lot, RM400++ psf…. and yet 50% sold…. really unbelievable… must put microscope to scrutinize this project… hehe…
Imagine in 3 years time, the whole bayan baru will be transformed to a place full of high rise with commercial lots at the lower levels… jam jam jam is for sure liao.
Wondering who is the tallest of them all… hehe…
This is crazy.
With this kind of price, people might as well go to buy Hillcrest Residences at Bukit Jambu, which is with much nicer design, nice facility & gardens, and only 4 units per floor and about the same price.
tallest is vertiq 😛
@yeah
That one too far from Bayan Baru lor… must compare side by side one lar…
heard olive tree coming up near with starting price 900k,dpiazza subsale gng for starting 500k,eli heights also starting 500k,anyone knows any new proj in bayan baru area can get a unit for less than 450k?
haha, all hear-say only mah…got actual transaction meh? properly developers goreng only lah…if market so good developers should hold longer and don’t rush to launch…wait for RM1000psf then lauch mah..
hmmm..i called up olive tree developer to confirm that…and for the new proj sub sale..based on mudah.com ad..anyway,the ques is,can we really get a unit for less than 450k in bayan baru now?new projs..less than 3 years old for instance?no doubt relau,sungai ara nearby and can still getlo..i personally think at least this proj is affordable…not sure still got affordable price units though…
Lets talk abt the developer..how is the track record from past projs?
no need track record. you better go book one ^_^, might be finished liao
wait and see and you will miss out big time..don’t wait.book, pay, then wait and see
well said.. sponge trying to buy it for himself only
If forecast market so good then developer will wait & see lah, not you lah…
Now may be the condo price in Bayan Baru is stable because no OC units yet..wait until One World & Elit Height OC and see…now already a lot of advertisement in muday.my already… developer pandai calculate lah, launch now and close the sales mid next year before the surge in supply…that ‘s why i said this is probably the last wave and best time (all time high) to ‘harvest’ lor…
sorry, mix up with yeah’s quote..
if buy this project better still buy 1-World or 1-World 2, nearly ready. same concept, leasehold and commercial title, dont need to wait for 3 years. some more it is cheaper.
early this year (i think around March) i still see the ads in the chinese newspaper like Kwongwah and Sin chew price starting from 300k++ (actually amount i forgot already, sorry).
then tell me what is the advantage of this Promenade again?? even 1-World and 1-World 2 project also not sold out, this one can be better meh?? haha
1-world asking for RM350psf for middle floor with 2 car parks now… What makes this Promenade valued at RM400++psf as a start ler? Cannot see wor… Maybe some fans or developer proxies will claim it as “future price” AGAIN lor… hehe…
regardless of anything , just book, then wait and see..if bad, then take back money lor..just don’t sign SnP lor.
You tot people print money one ah?
FYI, 1 world OC already obtained and bank valuation for subsales has approved >RM385/sqft. Thus, the price for this project should be acceptable (after 10% rebate).
My own opinion, Type F15, 1111sqft is not bad because sunset will block by Type I,B,C. West direction is diogonally from Bomba instead of directly face West.
Really got people pay RM385pft kah? Top floor corner units with two side-by-side car park is it?
But hor, this Promenade starting from RM400psf wor, 30cent psf maintenance fees also way too high, so high dense… sure want to maximize the profit lar… can’t wait to talk to their sales when they launch… sure can get alot of juicy details by then one lar…. dun know whether they got booth this coming property fair in July or not… hehe..
Anyone here can advise whether this project is fully renovated ? Because it says that they have 16 designers suite. What kind of “designer suite” they have inside ? Internal air-conditioning, Astro Beyond cabling and water heater is definitely not designer suite.
designer suite?…..wording only lar…..u go see Elit Height also call “designer suite”, but when OC u will get a brand new KOSONG house instead….
@wbk, yes. I heard one of the agent company will have booth there to sell this project.
Heard the 10% early bird discount will be withdraw soon by the developer.
very happy to see condo in island is half a million mark and increasing….
good good.
good for my property project in mainland. All engineers interested to get landed house?
Once in a life time chance to get a landed house in mainland…otherwise, another 5 years, island properties with this sq ft speed increase, it will hit above 1million mark already…
And most of them will have commercial title, smaller sqf, and studio type…..
Choose studio or landed hse? What is your decisions???
with RM500K, options are:-
a. Fully furnished Studio with 600sqf in island
b. Condo with RM250-300++ maintenance fee in island
c. Landed 2 storey terrace in bworth
d. Landed 2 storey semi-d in Bukit Mertajam
e. Landed 2 storey semi-d in Bukit Minyak / Juru
Rate / sqf is increasing every day in pg island.
This trend was seen when big players like Mahsing, SPSetia, E&O launching mega property with RM600 – RM1000 sqf properties. Local smaller properties player will follow suit.
Engineers with 5 years of experience, earning RM4000 – RM7000 (depends on company), how to afford monthly mortgage of ~RM2000 and car loan??
How How How??!!!
@FTZ Engineer
with that amount, you still can get a lot of ~1000sqf subsale units around…who ask you to blindly chase after developers’ boasting tactics…
c. Landed 2 storey terrace in bworth
d. Landed 2 storey semi-d in Bukit Mertajam
e. Landed 2 storey semi-d in Bukit Minyak / Juru
what is the point of staying there?
actually, mainland price won’t go up so much.. sorry, too much land there
go ahead lorrr.. dont try to stir the market
i know sub-sale can get lots of island units but those are old d….i prefer new unit.
If i wan sub-sale, N-park,E-park, Putra place and etc are all within range. But some of them are also leasehold.
then, go mainland can get landed with such budget. The big bad thing in mainland is have to allocate time for traffic jam, energy and tol price. I wait for many years and thought price can drop. Now even Bworth, Juru, BM also touching RM500K launch. So, i ask myself if i wait for another few years, then it will continue to escalate higher. So, alot of consideration now and if take no action now, future i will be forced to go sub-sale non-landed soon.
Everybody needs to stay at their own house one day one lar… for investment is different story lor…
Those who think long long normally will pay higher price one lor… property price in good location will only go up one lar.. drop also abit only like in KLCC area during downturn.
But this promenade is abit on the high side lor…
@FTZ Engineer
haha, so you think this Promenade should sell higher price than Putra Place with better seaview just because it is NEW?? Don’t you know that rationally new launch properties should price lower than completed properties because buyers are taking greater risk for what they get may not be what they been promised, or long delay, or even project been abandoned? Some developer may show you very impressive swimming pool in the brochure but ended up not the same and they told you that was just “artist impression” and not for real…Now developers all want to sell at speculative ‘future price’ don’t know base on what ground. I only know there going be thousands of new OC units coming out soon there, and already a lot of advertisement for sales even not yet OC…
still,i say , go for it..its now or never
@goforit
The “it” here you are not referring to Promenade rite? So expensive….
@goforit
Hee hee, it is now or never for the developer, coz lots of new OC units will be flushing in like tsunami soon…lots of choices for the buyers and probably throat-cutting price war for quick-flip investors…..hee hee…
i think developer selling higher and higher because the market is supporting them. anything that they launch, there will be buyers.
Also, inflation and material factor may drive them to price higher during launch too. Penang island land price is moving higher.
I do not know which factor is the most influential but, as consumer what we saw is property price always increase.
@FTZ Engineer
shouldn’t engineers do rational analysis rather than blindly follow? Go for facts and monitor the latest subsale transaction price trend and frequency lah…engineer should know how to recognize a slow down curve as in finance, eventhough u you may not read news in the bussiness/economy session. rite? by the way, penang has no more FTZ (free trade zone), so pls get yourself “straight” also…
Crystal Ball,
I agree with you, dont judge the market trend based on the selling/asking price on the property website, newspaper……….try to find out the actual transaction price, and not single/individual transaction case.
However these info is quite hard to obtain, unless you have some lawyer fren, or property agent good fren.
If you ask normal property agent sure they will tell you “yeah the market is doing damn good now…”, “faster buy before it’s too late”, “booming”, “it’s now or never!”
Why??? RICE BOWL mah……!
no way, it will go up ..no throat cutting, only cutting the buyer and they will still buy
buy buy buy!
worse of all, its leasehold
@david
thanks.
forward it to me too – you can email me here – ashotiwoth AT gmail DOT com
@Crystal Ball
For you that already have a home, you wont understand the sentiment that we are feeling as home seeker. I saw your replies in some popular project and most of your replies were advising ppl to hold and make “informed” decision.
Maybe to understand your judgement, which of the properties here that worth for your consideration to buy as home? Please share the best 1 that you think it attracts you.
Then, we can learn from you and your insights into the current property scene in penang island.
Buying a house that is called “HOME” should not be a big burden. One does not need to weigh heavily whether the price will dip or go even higher in a few years time. I am sure one will live there for more than few years or even whole life. The most important factors to consider is whether the “HOME” is near to work place, children’s school, market……It is convenience’s sake that comes into play.
As for investor/speculator, they will be the one who have to weigh whether the price is reasonable or whether the bubble is going to burst. They are the one who may not have enough financial strength to hold for long and also they wont intend to stay in the house.
I just wish those who are looking for a “HOME” can finally get one for themselves and their loved ones. Investing in a “HOME” is the first step in property investment.
@FTZ Engineer
my advice: wait for those new projects to obtained OC and bargain, One World & Elit Height are just nearby. It is still a faster way to own a house rather than buying a newly launch project. Make good use of your money to grow during this 1 – 2years, while quick flip investors need to start instalment…You have the upper hand if you wait longer. If there is 10% investor out of One World and Elit Height that accounted for ~150 units for bargain already (assume that other 90% – 1500 units are own stay!)..and there are Golden Triangle and Arena in the pipeline…
@CBS
disagree. price must go up, because if it didn’t , you cna’t capture better home in future. buy as though it is for investment. price must go up
don’t listen to this guy. price will continue to go up, buy now with DIBS, just fork out few thousand for booking. you buy later, you are at the mercy of the flippers, worse
haha, everyday said price will go up go up…what is the supporting factors? a lot of empty air only….
Yes. Price will go up anyway. But my opinion for those who is buying for own stay, just buy it if the location is convenient for you to go to work, school, market, food …….In this case, you dont really have a big concern if the price will go up or not. You just need a house to stay in.
@bus
@Crystal Ball
Yes. Price will go up in the long term. Short term fluctuation/correction may be inevitable. But my opinion is that our per capita income is still quite low to become a developed nation in 2020 and we still have only 8 year left. So, i think the government will do “something” to inflate/increase our income. Maybe after election the price of petrol, sugar, transportation….will go up and this will push inflation to go up. As a result, the price of property will also go up.
Property/real estate is one of the tools that can hedge against inflation. Therefore, it is no surprise that speculator/investor take advantage of this and push the price of property even higher.
If one really need a house for own stay, he needs to buy it now. If not maybe after 2020, you willl be kicked out of the Penang island.
I agreed with all the comments above regarding the properties price will continue to go up. But, I still seriously doubt about the selling points of Promenade. May be I am an Arena owner, haha.
@Crystal Ball
Tell us a property that you own, and let others to debate whether you had made the right choice here. If you dare.
my 2 cents:Land on penang island getting scarce.So,any property u buy on penang island,price will go up.If it is on prime location as Bayan Baru,it will appreciate more despite all the Cons of it being leasehold snd etc.So whether u are buying for own stay or investment,this will b a good buy.The truth is,there is no new property of less than 3 years old that u can get on prime land,for less than 400k anymore!If buying for own stay, you can consider subsale too,IF u can get at the same price at same place.
don’t be short sighted, you will need to upgrade later
@CBS
@Crystal Ball
i agree that price is on uptrend now. After election, high chances that the subsidy will be removed. Idris Jala’s plan earlier was not fully executed yet – the subsidy removal.
The federal gov will not remove subsidy as the GE13 is near (very near) and its stupid for them to do so after selling national assets (IPO on felda, IHH, gas Msia, penang port) to raise election fund. They need lots of money to drum up the election goodies. =)
We as genuine home buyer will be impacted by this macro actions. I will seriously consider to buy property now. Agreed that it is an inflation hedge tool. But for bigger home, landed, limited budget, bworth will be highly considered as well.
@FTZ Engineer
don’t assume price is uptrend just because a lot of developers are jacking up the price with new launch projects..check the transaction trend to see whether the support is still strong not…high probability worldwide & local economy downturn especially after GE, and banks are tightening loan requirement, a lot of investors already sit aside and see..and the quantity of condo is probably tripled when the past DIBS projects OC in 2 years time..
@Crystal Ball,Dont be on denial..like it or not..2 main points..land on Penang Island getting scarce..its gng to be like Singapore soon..only those who can afford or had gotten a property like now when there is still a bit of land left will have the chance to live on the island.If you have job on the island and schooling kids..i need not say more where r better quality schools (island vs mainland)and where is time and cost effective for u to commute to work daily.If u are not concerned abt these,respect yr analysis but dont try to confuse others.2nd point..as time goes by raw material is gng to increase in price..so wait and see and end up not cannot afford at all
Summary:
1. Genuine Buyer(those who buy for own stay) — anytime is a good time to buy.
2. Speculator/Investor — dont just simply buy. think twice before action.
Summary:
1. Genuine Buyer(those who buy for own stay) — anytime is a good time to buy.
2. Speculator/Investor — dont just simply buy. think twice before action.
As for the price of property, it will go up anyway because economic and political factors are supporting the price. Even if speculator are sidelined, genuine buyer will be buying.
Let’s stopping arguing. Let’s just share our infomation of the projects in this forum.
Concur with CBS.Who has booked so far?Heard there will b a booth at Star Property on thisproject.Facilities heard swimming pool and yoga deck only so far.Anyone else with other updates?How about loan?can get 90%?
I’m one of the agent who selling this property, any interested buyer can direct contact me
JASS
016-4052568
this property is selling fast~~left few units only
Jass,any games court?gym?wats the locked down maint fees per sqft?
RM0.3 / sqft for maintenance fee. Smallest unit is 847 sqft. Tht means maintenance alone is RM254. And monthly mortgage payment with RM400k, monthly loan payment is around RM1400.
Total monthly payment is around RM1650. OMG!!!!! Leasehold sumore!!!!
That is still fine. Imagine if we buy 1000sq. ft. Maintenance alone is RM300++ already. Property price maybe RM500K and loan…….i cannot imagine it anymore….
Dont worry. Buy now if can get loan. Once completed, the penang island property price will be at least half a million mark and with studio design. You cannot find 1000 sqft anymore that time.
1.6k including maint…if to consider for investment, what would be the rental return you reckon for this unit in 3 years time?monthly rental for FF,for 2 rooms condo targetting new couples…?
@Investor
Please check out the surrounding condo rental yield and tenant segments.
Rental yield in Penang is not attractive. Just take a look at the DPiazza condo.
With RM1.6K/month and to achieve rental of 6-8%, how are you going to attract the engineers as your tenant? For expatriate or management level, they would prefer sea-view or different segment of condos.
can attract. many dpiazza are renting around 1.6k. they even split the living room into a room to rent
Hi, Let’s talked fact here. I have booked the unit with RM10k and signed the inquiry purchase form. Maintenance fee confirmed is RM0.25/sqft. Besides facilities stated above, there is gym as well.
Also, price/sqft is different base on types of size and facing. The most affordable and ideal type is 1111sqft start with RM382/sqft after 10% rebate. Just a 5% down payment upon signing SnP, DIBS and all legal fees will be beared by developer.
Ngam ngam opposite… own stay one normally think long long… investors buy house like buying kacang putih… hehe..
@nah
Got… because they are waiting for their 1-world or Sierra residence or Meridien or Elit or Golden Triangle or Vertiq to complete lar… it will only go down for rental market in Bayan Baru…
Or single and available who prefer to share house with BFF… and rent out their own apartment… hehe…
m/fees Min RM 0.20 – Max RM 0.25 has confirmed from developer.
@jass tang,any default furnishing such as kitchen cabinet ?if there is,it will attract more investors..
no such thing..sorry, bare empty ..take it or leave it
How many you here have booked an unit?
@ 70% unit already Booked.
If interested pls email me Ur Full Name & H/p No
My email : moh_loon@hotmail.com
will get back with u asap, TQ
Not @ 90% booked already meh? Fast fast book yours while you can…. hehe….
SnP will be soon also…. this is the “trend” lar for Penang property, everywhere also 80/90% booked one during soft launch… Dont believe me? can go to Star property fair in Gurney soon and see for yourself lar… hehe…
penang world city is gng to launch 600 sft at 300k…800 sqft at 500k…..looks like property price is definately in upward trend in penang…whatever piece of land left for dev is like goldmine!
oh..really so hot? why don’t see people queue overnight nowaday? Better buy Arena than this leased hold project nearest to the big mosque!
@PEN,.i was interested but heard there is gng to be bus depo next to Arena and direct link bridge from Arena to PISA.Not too happy with these new plans..if i had purchased Arena,i would be really upset.
My personal opinion..this is really a good deal..i like the location..
i booked a unit,definately prefer it compared to arena..heard Arena gonna have bus depo next to it and direct link bridge to PISA.also prefer it compared to golden triangle which is near to all the indon area.prefer it compared to elit heights and one world too as this design looks more impressive as it is considered modern and luxury condo,which can cater for residents of newly married couple or outstation engineers working at ftz who do not need big sqft but values good facilities..overall…my own judgement,this project is my first choice at bayan baru.
So, many salesmen are here to echo how good is this project. Wow, it’s so hot, so great & so strategic. Better grab it before its too late. The selling points are leasehold, commercial title, next to mosque, $410psf, high density, small land size & high maintenance cost! This project will sell well, no doubt.
@pencondo
Like that should be nothing left already lar… so sad did not book mine early for this “perfect” apartment…
don’t just hard sell lah, mind to share what’s the selling point of this project?
@spongebob
I had just listed so many “selling points”, not enough? Hahaha….
The selling point is ‘Absolutely no 2-storeys bus interchange next to it’!!!
@mudah.my
Wow, brilliant! Excellent selling point! I do agree with you now, hahahaha….
Just one question, are the Swimming pool and others facilities considered important factor when you choose a property?
yes to me but others might hv diff opinion.
http://penanghotprop.wordpress.com/2012/05/18/dcascadium/
i saw some new photo….
yeah, looks much better than the Arena…
but, just Artist impression only…will the real comparable to it later on?
reputable developer..check out one residency in KL by lion group.i beleive the quality will be better than arena,elit heights and dpiazza
Agree with you. If the project is Freehold, guarantee q panjang panjang punya la…..
good one for those working in ftz area..if you dont hv big family,hv option to even go for 2 bedroom with affordable price and with hope of better quality than the rest.yeap..only slack is its not freehold but if you dont mind that..thats not gng to be a problem.its not like your property will be stolen without any replacement after the tenure..
heard lion group workmanship is good….their project in kl selling for more than a mil
With that price, better go for freehold lah. Leasehold in this location will be difficult to find buyers in subsales later.
Wow, I also have junior pen.
No one is complaining Lion group’s reputation. But the price tag is unbelievable for a leasehold product.
@analyst
Even for small family, 2 rooms is not practical. And my friends all don’t like leasehold property.
@Pen
Big Pen and small pens… ha ha.
@spongebob
Quick quick trademarked the name loh.
@own stay
Really?i hv newly married frens and those with 1 baby staying in 3 rooms condo and the 3rd room totally unused.i think penangites are still not comf with the thought of staying in soho unit or 2 rooms..it’s popular in KL especially in prime area..Melbourne city…though
woo……nice Artist Impression photo uploaded! Thanks Admin for the update..
Promenade vs Elit Heights, easily Elit Heights won~
then why are you here?
Wah… dun know whether people will bite or not after seeing their new artist impression lor… really excited to see how Bayan Baru will become after 5 years lor… so many highrise… last time only got suntech, now got Dpiazza, 1-world, soon got elite heights, Arena, Promenade, Olive tree… hehe…
i passed by that area yesterday and was wondering how could this project be built on this “not that big” land size…
As i looked at the Artist Impression picture, it seemed like require large land size….
Why potential buyer cannot deal directly with developer? will there be developer office in Penang?
@Risk Taker
They have booth at Gurney this week property fair. You may confront them why got agent start taking booking fees while their official launch is end of this year. hehe…
@wbk
Yup, something fishy, as normally we pay booking fee directly to developer and developer staff handling all the questions. This project, a third party handling it. Not too sure how much developer pay to the real estate agents.
the booth at G hotel crowded..most units,residential and commercial booked.looks impressive and good location.suitable for stay for those working arnd FTZ,both small and big families.frm 2 to 4 rooms.Lion group has good record.show unit opening tomorrow.no,i am not a salesman..genuine participant of the property fair.
@properyfair
where’s the show unit?
Question, is leasehold really a issue?
@KK
Leasehold is not an issue at all when the price is right.
show unit still under construction.according to the sales man at the fair,it will be at dpiazza lot.
Wah… got show unit to see soon liao… judging by the “overwhelming response” with all east facing units taken up while not many left for west facing units, I think Promenade will be another “investment grade” property at Bayan Baru lar…. hehe…
Just book your unit, they rebate you 10%, zero commitment until project completion… then flip with profit 100k like that … where to find wor? hehe…
is the show unit available now to visit?
The entry price is 100psf more expensive than properties nearby, and leasehold title somemore. The chance to flip with profit will be thin, not to mention stuck with it in subsales later.
i think still not late to entry, After 2-3year the Jaya Jusco, one precinct, Quartermile, … all complete, the story will be difference. In Prime Area 500-600/sf still is normal rate
As long as location is right, you have holding power, and developr doesn’t wind up or screw up, unlikely to be money losing investment.
I’m still have a concern becos the project is leasehold.
Is it leasehold really a issue?
If the tenure is finished, what will we get? not even signle cent for replacement?
Can any salesmen over here share your opinion on my concern… many thanks.
leasehold is AN ISSUE.. resale price affected..after 10 years or so..so u need to throw it fast else price will come down
stop your nonsense.u talk too much
Anyone knows if the show unit is ready?
Prices for leasehold apartments/condos like Gold Coast, Parkview, Alpine even older ones like Sri Pangkor still keep rising. 99 yrs is a long time. None of us here would probably have a chance to see what will really happen to this project after the leasehold period.
Aduhai… nak gaduh2 kat jiran punye tempat pulak…. hehe…
@Common Person
Please this comment is like “pass” the issues to your next generation to settle. Freehold and lease hold is a BIG difference. To understand more, you may want to take a look at Singapore governement practice so that u can imagine what will happend once reach the dateline.
As we know the developer had solely assigned the Property Agent to market this project, do them setup a sales office at Penang here?
@David
So far the sub sale gain is very high also for leasehold in Penang…. and see no sign of weak demands…
@david tan
I understand that the developer will setup a temporily office as well as setting up the showroom at D piazza. The Agent is Henry Butcher I think.
The indicative price offer by Lion Group at RM350,000.00 is very attractive.
The location is good, slightly away from happening area, sPICE PISA. Lion Group has good track record so far.
THEN the dilemma for most investors is its leasehold status!
how many units left for leasehold? I know 1 world is 75 years.
@David
I know several old leasehold apartments in Singapore were bought up en block at high premium prices and rebuilt, and sold at crazy prices even with 50+ yrs remaining. Then again, that is Singapore. I have sold a leasehold apartment in Penang last year with double the price I bought 5 years ago. High rise buildings will be “issues” 100 yrs later be it freehold or leasehold. I am not saying freehold and leasehold properties are the same. Freehold properties will have higher value especially for landed properties. But leasehold properties have its value as well. A leasehold property built by a reputable developer at strategic location is more valuable than a freehold property built by lousy developer at non strategic location.
“A leasehold property built by a reputable developer at strategic location
is more valuable than a freehold property built by lousy developer at non
strategic location.”
A leasehold and freehold property in the same area,which one would you
buy? A freehold property built by lousy developer at a strategic location
and a leasehold property built by a reputable developer at non-strategic
location, which one would you buy?
I would buy a freehold property.
@J & J
Buy house is risky, generally leasehold is cheaper. But hor, you definitely want to avoid lousy developer at all cost… hehe…
” generally leasehold is cheaper.”
You see leasehold speaks for itself.
So still prefer lousy developer over leasehold? Hehe…
JJ, do you think any different for free/leasehold high rise condos after 50yrs?
Would you buy a leasehold property after 50 years with a 99 year lease ?
neither freehold condo projects
what i mean is it depends on the building condition, no longer the matter of lease or freehold.
Btw JJ, leasehold doesn’t speak, but location, and what makes you think that “leasehold generally cheaper”?
In fact this project not suitable for own stay buyer like me due to commercial title n higher mt fee.
No doubt lease hold propetise can make decent of profit if the enter price and location is perfect, but that is for the INVESTOR. My point here is for those buy for own stay and will pass it for next and next generation, pls avoid this. Imagine that, if lets said if market runtuh and u need cash for turn around for some reason. Which type of propertise will experince “revalue” by bank?
I would said, leasehold is for those investor which looking for higher rental yield as the entering cost much more lower than the freehold. Tenant would not care the land title as long as the location is good, facilities in place, near to makan place…etc. Rental would not affected by the status of the title and will on par with the market price.
@David
Nowadays the rental yield for Condo in Penang is not so good. Ideally the rental should be able to cover monthly installment and maintenance fees. However the rental rate increment is disproportionate with condo price rate. Those who bought Condo-apartment 10 years back can get very good rental return. I think nowadays most investors targeting sub sale capital appreciations rather than rental yield –reasons the rental rate remains static??
modus operandi of property market pusher nowaday:
-developers+agents+related industry keep boosting about property market
-investors/speculators flip flip flip with DIBS package
-no need to care about free hold/leasehold/residential/commercial titles, keep pushing the price tag higher & higher,
-no need to care how many projects/units already/upcoming surrounding Bayan Baru, Sg Ara, Relau, Sg Pinang, BJ, Gelugor, Teluk Kumbar, Batu Maung, etc. Penangites like new houses and always will buy from developers. No one like to buy subsales.
– no need to care about rental yield, just wait to flip flip flip.
– no need to care population growth, job market expansion, income/salary increment\purchasing power, housing demand whether in pace with increase of housing price & supply.
– Developers happily locked in the profit once signed SnP, buyers are happy with the gain on paper(at least for now). 3 years later = Big question mark. So far M’sia not gone through recent subprime issue like US and property price correction like China yet. Let’s wait & see.
Risk and return. 2008 and 2009, it was the worst of US Sub prime crisis. All US major financial institutions almost went burst. Most predicted Asian property market would crashed just like in US. Developers started pushing out DIBS zero % downplayment etc. A lot of risk taking some called “suckers” jumped into the market. Most predicted those buyers would get burnt 3 years later. Fast forward 3 years later, facts speak themselves. It is always risk and return. It will be unlikely to have high return with zero risk. As long as the buyers have holding power, investing in properties will unlikely be money losing investment in the long run. At least investors are holding on hard assets unlike share market.
US properties crisis was due to sub prime mortgage, is sub prime mortgage available in M’sia?
That’s what I said, as a investor. We should look for those hidden jewels which at other place. But is very limited to certain ppl as need some 1 to take care of it. Imagine JB area with lots of Condo selling 400k with fully furnish and above 1300sqft with rental return from 1.5k up to 2.5k some even 3.5k. That’s what I call “healthy” market. JB got Malaysian working in Singapore and stay in JB to support the propertise market. Penang got what? Mainland ppl support with the annual income RM35k/year? There is no rental market, operator and technician can easy paid the rental for 1.5k for 3 room condo in JB. Can it be done in Pg?
Msia don’t have sub prime mortgages, but the US sub prime crisis has chain reaction throughout the whole world. US sub prime crisis is not an isolated financial event. It affected global financial market, stock market etc.