@pptalk
if not mistaken, mbsb office located near citibank there (near to KWSP).
Otherwise, can call for enquiry +604-228-8677

this project can’t get 90% loan!.. where do I get all the $$ from? =(

@Chan
I registered about the same time as you. what i can advice you is to check if you fall under affordable category or LMC. My friend didnt update his pay after few years of submission and his name is now under LMC instead of affordable. The list for LMC is announcing soon per what i understood from Komtar officer.

@k
Thank for the info

leong,

90% loan is actually very generous already. if you are facing issue with downpayment, you can actually use your epf. if not, you are not ready to buy a house yet. A house has a lot of commitments not only the downpayment. After getting keys, there is reno cost also, not to mention the other costs involved.

@searching

I think he meant that he can’t get 90%…

The whole project is weird. There’s only MBSB as the panel banker? I thought normally got other banks?

Nobodies know nothing….

i’m not saying the downpayment. I mean, this project, no bankers can give 90% loan at all. 10% is not an issue. If banker tells you they can only loan 50% 60%, where are you going to find the balance 40% by ur own?? Sigh..

@leong

Leong, which banker have you approached? So far I tried go to other banks but they don’t do this project. It’s only MBSB….

Does anyone know if this development site (Tri pinnacle) as shown in the map will have new road build to link to Lorong Kejora/Lembah Permai area in Tanjung bungah? Current Alila and future Alila 2 is at the other side of Tri Pinnacle. Not sure how high is the hill that seperate this. Would be cool to have through road or even tunnel!

leong :
this project can’t get 90% loan!.. where do I get all the $$ from? =(

Find ways! parents, ask bank, epf (keep asking, sure they have products to sell u, but don’t strecth yourself too far).

From my understanding is, the developer so far only gives right to MBSB only. But you may approach other bank later april after signing S&P. But at that time you will only given less then a month to apply loan from other bank.

hi, anyone know when can sign sale and purchase agreement? y others can sign but this not yet?

huh?? only MBSB?? what a project…

@angline
probably around mid april. need to wait secure loan 1st. But, honestly the loan is very difficult to get for MBSB.

@angline
according to some source, the project not wholly approved yet (dunno what permit not approved), that’s why cannot sign s&p.

PLUS, it seems that major banks don’t even have details on this project, which explains why only MBSB as the panel bank

anyone here sign s&p? or any update? all gone quiet d

The low medium cost can register here?they say summit to developer is more faster than state gov,pls help me.tq

I ‘ve submitted to state gov earlier. They told me i am qualify and ask me to wait.
I wait for few months yet no news. May i know what can I do for the next instead of keep waiting?

Did anyone receive call from Bank ? MBSB for loan etc?
I so far still did not receive any call from them.
Appreciate if can provide contact

@Lee
U did not read the comment above at all before asking?
page 2 comment#1

+604-228-8677

MBSB only checked my credit record with CCRIS with the documents i provided upon their request. They told me that i have to wait for the ‘cabutan’ , then only can apply and secure a loan with them.

Maybank and CIMB do not give loan to this project. Not sure about other banks though.

@Sherlock
Is this what MBSB told u?

What about the rest of u? What is the outcome after liaise with MBSD? Mind to share your info?

@C
I have no follow up from the MBSB banker…

Frankly the whole thing is very weird. Everything goes silent now. Might need to call Tri Pinnacle and ask why all the delays. I am getting skeptical of this project.

@Sherlock
chinese phrase ‘以退为静/以静为退’. This is part of technique to passing the time because previously car park issue and some controversial.

They seems doing nothing. Actually it can started make you worry and curious, then buyer would be once again desperately for the passion.

anyone ballot and sign snp?

@yumi
Nope, no news here

hi all,

i hv submitted all the documents (ic, payslip, epf statement etc) to MBSB during chinese new year’ week. and last week i received a call from the bank to update few documents.

i think they are doing their parts now. so whoever not yet submit d documents required just go to the bank. if the bank din contact us, we go to them. we hv to do it by ourself coz is we wanted a ‘home’.

* jz a sharing since dis group bcum very quiet recently.

hv a good day.

@mayday
Just now the banker called me too for some additional documents. I think they are finally processing now. Hope for the best.

Yea, MBSB is submitting our loan applications.

As for the developer side, they told me they are awaiting for some sort of approval from the gov. Asked me to wait for further notifications, probably in June..

@C
June? Wow…just wow

Hii dearest buyer, i just receive mbsb call want to follow up my application tat i pass up before new year!! Just only want to see through my particular and tis neen pass from one banker to another..i ask many time that banker also resign pass to another then another one…y so slow on the application? Anyone face tis prob? Anyone alrdy been approve the loan?

@AbcMe
Heard that there is a change of plan.
The bank initially said they will submit my loan application only after balloting cause i think they need to enclose our unit no. in the application… maybe ..?
Recently they told me they can and will submit my loan application now, before balloting..

@i
The banker did tell me that they were stopped earlier but now can proceed with the loan application. Same goes with Aspen. Like what someone said earlier, seems the plan not fully approved

Called up and check. Local authorities approval obtained. Now they need to get the APDL which have to apply from KPKT @ Putrajaya. This is where most developers are delayed. Est. 3 weeks – 1.5 months for this APDL approval.

So far, Perumahan have given them about half of the shortlisted applicants. So, Perumahan have to provide them about another 400 names.

However, I visited the site yesterday, hoarding is up and they seem to start work at location already. I’ve gotten my loan approved by MBSB verbally. 4.5% is quite good I think. Any opinion on this?

Now just have to wait for developer to send me second letter. I’ve waited 3 years for the allocation by Perumahan, waiting another couple of weeks not be an issue. The waiting time also given me ample time to prepare my downpayment. 😛

I got 95% loan from bank 😀

Called developer and they asked to call again later after 2 weeks, saying that they may give us an alternate bank which we can approach for loan.

May i know what is the loan package MBSB offer?

They offer me:
BLR-2.40% (ie 2.45%)
fixed rate
no log in period

mmm.. what else do i missed out?

Sorry, its 4.45%, fixed rate, no log in.

@Jess
Hihi how come u knw u got 95%loan..they offer u lik tis?

@AbcMe

Its stated in their ‘quotation’.

@a
They sent you official letter or just verbally inform?

@Sherlock

They gave it to me when i meet them for submission of some documents, which they said have to pass to them personally.

Mine one the mbsb banker frm prai branch ask me to pass up latest payslip n statement then they help me to count n say probably can get the loan and pass up to main branch to confirm..im still waiting:)

Any update guys? The banker called me and said my loan approved…but interest rate is like 5%+/- zzzzzz

Called Aspen and seems they got few banks that can apply loan coming up

@Sherlock me too…say probably 5.05% interest.abit high..n i can get85%loan only..ask aspen they say mayb can try other bank but they still discuss with the bank wait about 2-3weeks to try call again.

Doesnt it concern you guys that the hill slope has been almost dessimated by all of the sub soil and bedrock destruction up to date. I mean not just on the Mt Erskine side but also just over the peak to the Alila 2 side which is also undergoing bed rock removal for the build of another 2 concrete monsters. Sorry but common sense and a wee bit of geo tech knowledge would indicate that there is now too much concrete weight being placed upon this particular hill peak and both sides of the slope!!!! Ouch..wobble wobble..crash…dont say you weren’t warned!!!!!!

@Tan
No it is not “COOL” to destroy even more of the hill slope…Thank you!!!

MBSB has just told me bout my loan has been approved. Btw, not a good news to share.. where penang being left out of the affordable housing by federal govt,details as below. Not sure when only we are able to get the SnP signed.
http://www.themalaysianinsider.com/malaysia/article/penang-left-out-of-federal-governments-affordable-housing-project-says-dap

Do anyone start approaching other bank?

@evonne

So have to trust Penang state gov. We need to survive and stand on own feet.
No need wait PRIMA 1 but take up those affordable house scheme which is not PRIMA1 project.

@evonne
They give u good rate?

The view of pinnacle will be blocked by the peak?

SnP will be ready by early June. Just check with developer

Hi how do u guys deal with mbsb? i had submit payslip those document to mbsb staff since long time ago but has not getting any reply frm them since then.

U may call them. Contact the banker to keep yourself updated all the time, if u dont hear from them.

@qonop

Im afraid the view of block B facing pool units will be blocked by the LMC of the same project itself, as these two blocks seems to be parallel according to the layout… @XF

im confuse with the steps,
1)we need to get our loan preapprove by mbsb(by verbally or letter), then only aspen send 2nd letter to us? or
2)aspen send 2nd letter to us, then only mbsb can officially approve our loan?

@kkl
Last time they told it was april/may. I will see first

@qonop
MBSB just checking if we eligible. We need wait Aspen send 2nd letter, pay downpayment and then start applying loan. It seems they will have other bankers by then?

i did call n ask..they say probably end of may will send out the second letter..probably will hv rhb n cimb tis 2 panel..they still in progress with the contract of tis 2 bank…we just get a preloan approval frm mbsb 1st once down payment n balloting we can try apply frm others bank..tis the news i get..

Just visited Aspen Office , They offered 2 option , basic with 1 carpark, option B +100K with side by side car park ,renovation, some sort of furniture,and SPA Fee deduction, Its that worth ?

RM 40k downpayment (400k package)+ legal fee roughly (RM 13k) = Almost 55k.
RM0.20 x 800 sqft = RM 160+10 sinking fund = RM 170.00 / month maintainance fee.

Thinking about should i approach MBSB? they told that it might be some other private bank will join next month after some SPA document are ready for bank .

Matt :
Just visited Aspen Office , They offered 2 option , basic with 1 carpark, option B +100K with side by side car park ,renovation, some sort of furniture,and SPA Fee deduction, Its that worth ?
RM 40k downpayment (400k package)+ legal fee roughly (RM 13k) = Almost 55k.
RM0.20 x 800 sqft = RM 160+10 sinking fund = RM 170.00 / month maintainance fee.
Thinking about should i approach MBSB? they told that it might be some other private bank will join next month after some SPA document are ready for bank .

Yea. Visit Aspen too for briefing. The revision of package was due to first batch buyers’ feedback and response on full package, ie. extra CP, specs reno & furnishing. So seeing the take up rate from first batch is about 70%, they have manage to reduce the cost from RM150K to RM100K. I feel they have done their part in helping out most of the buyers. They have also reduce the “extra” carparks available for sale by 30% hence additional carparks for sale will be prioritised to those taking up the package first.

Legel fees for a RM400K property is not that high la. I’ve checked with my lawyer friends. They are estimating higher to be cautious. If SPA is absorbed by them after taking up the package and loan of 90% ie. RM360K, legal fees will not exceed RM10K.

I am convinced that taking up the package is more beneficial though some of your may argue it is not fair but if 70% positive feedback from first batch then it is majority ruling. Can’t make 100% happy cause there will be critics out there. From the information shared with me, I’m summarise the following conclusion.
1. I can lump everything into the SPA. RM400K for 800sf = RM500psf = below market rate by about 15 – 20%. The Peak is selling at about RM680K for subsale unfurnished now. They may be a lower density but a home is still a home to me la …
2. The specs upgrade will make the unit a higher specs finish compared to many condos out there. If you look at IDEAL or IVORY or even IJM or BSG, their condos’ spec when completed (selling about RM600 psf) will not have plaster ceiling.
3. Package will allow the carpark to be lumped into the SPA ie. will be accessorized so when I get strata title in the future, the carpark will belong to me legally under Federal law. If buy seperately, not in SPA so I have to pay GST also and cannot take loan and is not accessorised
4. I’ve survey a few other Affordable Homes projects, most would straight sell at RM400K already and the specs is lower.
5. Location, maybe this is personal la. But staying at Tanjung Bungah for years, I feel Tanjung Tokong have more potential compared to places like Sungai Ara …
6. Inflation and other uncertainties over the next 3 years could very much inflate prices of things above 15% (5% per year fair kua). Committing to the SPA means I don’t have to worry about taking out CASH of RM100K in the future to buy 1 extra carpark seperately (which may be sold out, have to pay GST and cannot take loan) and do renovation, which is cash terms with these contractors, no warranty (Aspen got at least 2 years warranty under SPA) and will delay moving into my new home for an extra 3 – 6 months which the cost may be higher than what is surveyed today.

So, I think this is personal preference la. If at the end of the day not happy with allocation of this project can go to komtar and request change to another affordable home project.

Wait what? They change the package again? No more with just buying the additional car park? What?

@Sherlock

You can buy extra carpark. But after the sell to those that buy package first. Left over then will sell to you.

@limpek
Sound like those who pay RM400k is their priority customer.
those who just buying the 300K and additional car park need to wait left over?
how about previous promise? 3 options change to 2 options?
as i know when starting, the affordable house project is sale for those who apply from Government. (Selected Lucky person who apply this project)
now i found all the affordable house project in penang is focus on how to earn max profit rather than helping medium or low income family. (Selected Rich person who able pay highest price for this project)

I still waiting AG SPA come out 1st..

@@CJ
Kinda expected from them. I justdon’t like that they keep us out of the loop and no updates on the projects at all.

I met them way back in January and no follow up ever since. Ah well

CJ, sadly, that is how the world is. Its all about profit. no organization will do charity work.
Only government has a duty to care and provide for her citizens. Like what penang is doing, they sub the project out to private developers for a win win situation. to allow developers to earn and to give citizens a place to stay. so, Profit is definitely in the picture!

Hard truth is no private organisation is so good to do “business” without making good profit. They still need to look out for their bottom line. If not, how they continue to stay in operation, pay their staff salary. Only the government has the duty to take care of their citizens.

Just like I read some buyers here talking about selling for higher price in future or renting out affordable housing.Some of my single friends want to get to rent out or sell next time. They stay with their parents. Isn’t it all about profiting too? This is human mentality. Who wants to make loss or even no gain. Ask yourselves truthfully.

I feel just be thankful that market is soft, coupled with government incentive to developers that they can build higher density, that’s why you can get to buy at this kind of price. If later market stronger and developers switch back to normal price, don’t cry that you miss the boat again.

Typical example of human. When price low, no sense of urgency to buy. When price moves, they say wait for price to come down again. When price never go back to 3 years ago, cry father mother. What to do ah. You complain and wait till boat already sail off. Only yourself to blame.

And those who say developers charging high for affordable housing, if you cannot afford to buy, go look other projects. Can be second hand low cost like in Relau, Farlim… No one force you to buy affordable housing. Don’t kill yourself. Later you buy then got problem paying maintenance. You will be harming the condo community because the maintenance of the condo will be affected. Buy something you can afford now. Next time got more money then upgrade to something better.

guys, i also facing the same problem…how? Most of U guys will take the 400k package??
now for those take their 400k package is the priority customer..those who able on 300k only lik me wanna buy additional carpark also they say see anymore left over frm 400k ppl only sell for us n the price no more 30k and 50k…now additional carpark no mather side-side or front back all 50k..how expensive it is!!! Even if i plan for the 400k also i worry and it dun hv a clear picture of what type of furniture, hows the quality of the construction n furniture..for me to dump extra 100k for tis extra things im querious of the quality of work after completing..sumore say 3 yrs later furniture might change according to tat time..i hv no idea now..need more opinion:( at 1st im happy, super excited been choosen to buy the property…till nw is bcum more complicated..

@AbcMe
With all the random changes to the so called upgrade packages, throwing in 100k is definitely a very risky move.

If it were me, I would probably buy the basic package and that’s it

hardtruth :Hard truth is no private organisation is so good to do “business” without making good profit. They still need to look out for their bottom line. If not, how they continue to stay in operation, pay their staff salary. Only the government has the duty to take care of their citizens.
Just like I read some buyers here talking about selling for higher price in future or renting out affordable housing.Some of my single friends want to get to rent out or sell next time. They stay with their parents. Isn’t it all about profiting too? This is human mentality. Who wants to make loss or even no gain. Ask yourselves truthfully.
I feel just be thankful that market is soft, coupled with government incentive to developers that they can build higher density, that’s why you can get to buy at this kind of price. If later market stronger and developers switch back to normal price, don’t cry that you miss the boat again.
Typical example of human. When price low, no sense of urgency to buy. When price moves, they say wait for price to come down again. When price never go back to 3 years ago, cry father mother. What to do ah. You complain and wait till boat already sail off. Only yourself to blame.
And those who say developers charging high for affordable housing, if you cannot afford to buy, go look other projects. Can be second hand low cost like in Relau, Farlim… No one force you to buy affordable housing. Don’t kill yourself. Later you buy then got problem paying maintenance. You will be harming the condo community because the maintenance of the condo will be affected. Buy something you can afford now. Next time got more money then upgrade to something better.

well said, many of my frens also that kind of mentality. Now I no longer encourage them to buy ‘a shelter over their head’.

@Sherlock Thx for ur view..i will gt a direction how to go…;)

@AbcMe
Hi AbdMe,
Kindly ask does the sales office told you that no matter side by side or front back car park all fixed at 50k ?

@Matt
Yup..n will see if any left over from those taking the package one only will sell to us…
the one taking 400k one also first come first serve with side-side to front-bac distribution..
For me a condo with 50k carpark is it too expen..? Duno:(

@AbcMe
chinese’s car park can be bumi’s house already . What a joke

have u guys read thru the diff between standard spec & upgrades spec…?
The standard spec is like low cost/ low medium cost spec….if can i rather take the block A low cost which is less than 100k… the developer told me If no upgrade then u will get the high density block & facing low cost =( the low density block only for upgraded unit.. RM400k monthly repayment is around 2k =( no more affordable

@NB
They already provide that? They have never contacted me after the first round

@Sherlock
u can go their office and ask them to show u.
basically if no upgrade the spec is exactly like low medium spec, AG really disappoint me…i tot 300k should be better than low medium

@NB
Damn…I really can’t afford RM400K property….Need to pay a visit to their office soon

@Sherlock
I bet u..u sure will faint when u saw the standard spec…300k spec is equal to 75k spec…no aircond piping & point, medium cost door & foor tile, insufficient points….
how i wish i can get their block A low cost unit as i really cant afford 40k downpayment

@NB How can they make it lik tat…should included the pipeing all as tis is low medium cost should hv the standard better than low cost!! Where we can fight for it? Everytime Have to phone and follow up everything if wanna knw..now they told me can start apply from public bank guys near bishop street one!!

lol guys, stop being such a whiner pls, with 300k for new condo with pool, gym in tg tokong area especially is consider good alrdy. what do you expect really? 300k new condo fully reno + 2 cp ?? do more research pls, if u expecting this probably you are not from penang island, perhaps from Kedah?? do some market research pls, and for those whiner, pls apply LMC instead if u cant afford a RM300k house, you have other choices like buying farlim flat, 2 rooms it also cost you RM 70k++ summore leasehold without CP. most noobies in Penang when purchasing a property they like comparing with previous price, when selling that time they know how to sell above market price, renting a condo around this area also cost u like RM1000 per month alrdy for standard for a standard 3 rooms condo like that, e.g Taman Kristal. It’s like a chinese saying, eat rice dunno rice price? now all newly build condo in penang i believe is above RM550 per square feet alrdy for a plain unit, while this only cost you RM375 per square feet eh?

Although i got this project and my loan approved, I decided and sent letter to Perumahan regarding reject this ridiculous project. For those buying this project i just can say good luck.

Affin bank can offer loan for Tri Pinnacle

Hey folks, I just recently got both the offer letters from the Penang State Govt as well as Aspen Group.

Everything I was told during the meeting with AG rep is exactly what I’ve read here. Upgrading costs RM100k; you get 2 carparks and some other upgrades like tiling, furniture etc. If you don’t most likely your unit will be facing the 72.5k units.

In fact I’ve just gotten a call from PBB yesterday (19th May) asking for supporting docs to apply for home loan.

I’m actually still in a dilemma, whether to go for it or not. I mean if I reject, (the agent told me) I have to write letters to both PSG and AG and then have to wait all over again to get selected for other LMC projects (note that I first submitted this LMC app sometime back in 2012, then updated my salary details just last year to qualify for Affordable Housing).

However reading all the posts here is starting to make me think that this AH project may slightly be overpriced – here I’m not comparing with other properties in Pg Island whose price has spiralled out of control beyond the affordability of many Penangites like me but with similar LMC projects in other parts of the island. I consider myself lucky? as I believe many other applicants are still waiting for such offer letter from the state govt.

Taking the upgrading package means the price per sq ft comes up to ~RM500. I’m sure other upcoming AH projects may have a better, competitive prices since as I know it these house prices are set by the provate developers.

What do you guys say?

Btw I haven’t read much about other AH projects like the one in The Clovers & One Foresta to name a few. The Clovers looks less congested in terms of the allocation of units under the AH category. Also these areas sound more ‘prime’ to me..

@jason89
when u received the letters from AG? so far i didn’t receive anything from them. did AG mention when is the date for eligible buyers to sign SPA? tq

Hey @mayday, I got the 2nd letter from AG sometime end of April. I had earlier received the letter from our Penang state govt sometime in Feb/Mar.

I just managed to meet them last Fri (15th Mar) – that was actually the last day as in the letter it’s stated that appointment had to be on 4th May – 15th May so that AG could brief us on the projects.

I was also told by the AG rep that balloting will be sometime in June/July and that once loan is approved, we have to pay the 10% D/P & have to be present ourselves for the balloting to see which unit we will get. I asked her and she said it’d depend on our luck; meaning even if we choose the upgrading package we won’t be able to pick which floor/unit that we want. All I know is that those who opt for the upgrade package will have better chance in securing favorable units as the rest (facing LMC) are for those not upgrading.

Wondering if you or anyone else has gotten/accepted/signed such offer earlier?

If you get LMC can think about it, If you get affordable home unless you are rich enough, if not you better think twice before you purchase this project.

If I got LMC I would definitely snap it without thinking further. Unfortunately that’s not the case as I’ve stated my preference for RM300k home in my application few years back, so changing this is going to be a hassle again.

My main concern (if I reject this offer) is that my queue will be reset and god knows how long I have to wait again to get another similar offer for another AH project. Also affordability wise, that’s not a major issue as I can apply for joint home loan (with my parents or sibling). Just don’t want to miss the boat again after witnessing the ever-increasing house prices in the island for the past years (I was unlucky to join the work force late so back then never had any thoughts of owning a property due to financial reasons), but now that I’m able to save some decent amount I want to make sure this will be a wise decision considering the fact that avg price for an aparment right now easily fetches ~RM600-700 per sq ft. Sigh, I’ve always been indecisive when it comes to making decisions.

Has anyone turned down the offer for this TriP (or other AH projects)? Mind sharing what’s happened so far – like any reply from the developers or Penang state govt?

Hi, have anyone approach Public Bank or Affin for loan yet?
May i know the rate offered by these banks?

anyone didn’t receive 2nd letter from AG like me? early in May MBSB did call me said that my loan can’t be approved coz monthly commitment is too high. so i hv to do joint applicant for the loan. i hv jz submitted the 2nd applicant doc yesterday. is it this is the reason i didn’t get the 2nd AG letter??

anyone like me? pls share…

@i PBB verbally told me that the rate is 4.45%. Not sure about Affin though.

@mayday I think I may have confused some when I mentioned I received the 2nd letter from AG. I was trying to mean that I got a letter from Penang state govt, followed by another letter from AG (this is 2nd letter I got on Affordable Home project, but the first from Aspen). Will there be a 2nd letter from AG (aka 3rd letter overall)?

I got the letter from penang state gov early in Feb too, and another one from AG. I hv went to the briefing section once only before AG do the open registration at their office. until now I did not receive further update from AG. I dunno about the latest upgrading package (RM100k with furniture) until i read from this group.

thanks a lot for all the informations provided.

Thanks.

I think u are the 2nd batch who get the offer.
We got the offer letter from AG(so called 1st letter from AG) and one from the state gov in Jan.

Guess AG will inform us once they are ready for balloting and signing SPA, perhaps through a 2nd letter or by some other means… probably in June, according to the developer…

@jason89

@mayday – So you’re taking the RM300k without the upgrading package? Looks like the offer has somehow changed (I read earlier posts and it was different, eg RM50k for extra car park etc, now AG seems to lump everything in the single choose-or-not RM100k package).

@i Since you and mayday both are from the 1st batch, in case you hear anything back from Aspen in the coming weeks please update here. Would love to learn more about the next stages of the offer. (I did recall the rep saying Aspen will send us another letter containing info on the balloting date, D/P settlement etc).

Thanks folks, please keep this thread going. Don’t think there’s more I can learn of this project other than through these sharings.

@jason89 not sure which package yet. will only decide after clear briefing from AG.

Thanks all~~~

@GrowUpPls
lolx….i bet u dun understand the word of “affordable”…

how can u compare affordable house with normal apartment like taman krystal..
Taman krystal only 500 units with more facilities…tri pinnacle is 1200 units comprise with low cost unit…affordable if for those poor ppl that cant afford normal apartment, if ppl can afford then no need to built affordable anymore.

I never except 300k fully reno with 2 cp but at least not the low cost spec like 75k…
conclusion is i will more than happy if i get the 75k from AG

Please go to their office to ask for the standard specification then u will know..

@NB
bro, i believe u are the 1 who is confusing, affordable has few catogories:
200k,300k,400k…. the tri-pinacle has the same facilities as taman krystal, and the size is larger by 100sqft, maybe the swimming is not the olympic size if u were insist on that, and higher density perhaps, but it has all the facilities that any normal condo has, and lobby as well… basically it can be known as normal condo/apartment, i believe it has alrdy outscore the taman krystal. Affordable housing is build base on those who can afford by price range. All im saying is that with this price 300k, its probably the lowest u can get around tg tokong area, plus, it is a new house! Even if you were to buy new house price around RM500k-RM700k the specs are basically simple, standard and original, if you had purchase any u should know. u got the basic tiles, lighting point, normal plywood door, kitchen sink, wc etc. the same goes to new landed property as well, so pls define “low cost spec”, as i was told, the lmc flat price at RM72,500 come without CP. I have actually runnin through deeply with them and comparing the property price around the area. i am mid-income earner n i am more than happy to have applied a unit there.
Just fyi, LMC Taman Kheng Tian selling RM350k and above, LMC Harmony View RM400k and above if you do enough research Just wanna rectify you wrong perception, housing price in Penang is not justify by so called categories LMC/Affordable, it is by market value and location surrounding etc.
I am just a mid-income earner, been thankful still might able to secure a unit there, i would say the property is valued for the money. In your case, i believe you have applied for the wrong category. You can actually go to komtar to switch your category to lmc instead.

jason89 :
If I got LMC I would definitely snap it without thinking further. Unfortunately that’s not the case as I’ve stated my preference for RM300k home in my application few years back, so changing this is going to be a hassle again.
My main concern (if I reject this offer) is that my queue will be reset and god knows how long I have to wait again to get another similar offer for another AH project. Also affordability wise, that’s not a major issue as I can apply for joint home loan (with my parents or sibling). Just don’t want to miss the boat again after witnessing the ever-increasing house prices in the island for the past years (I was unlucky to join the work force late so back then never had any thoughts of owning a property due to financial reasons), but now that I’m able to save some decent amount I want to make sure this will be a wise decision considering the fact that avg price for an aparment right now easily fetches ~RM600-700 per sq ft. Sigh, I’ve always been indecisive when it comes to making decisions.
Has anyone turned down the offer for this TriP (or other AH projects)? Mind sharing what’s happened so far – like any reply from the developers or Penang state govt?

hey there jason89, if you can afford it, i suggest you should go with it. If you looking for a new condo around this area, easily wont be this price anymore, cause my agent frd told me, if this does not fall under affordable category, and with this price, he easily can get investor in hand to purchase in bulk. Upon completion, the value will definately increase by at least 15%

Affin bank offer 4.45%, semi-flexi. Can apply now.

Public bank offer 4.65% or lower, but can only apply when u have the unit number (ie. after balloting).

@ Jason89
No problem. Im glad we can share info and keep each other updated here.

@GrowUpPls

Hahaha…u sound like a professional AG staff equip with all the infos here. Pls help to convey our msg to ur management, tqvm

As i mentioned earlier i’m more than happy to get the low cost of Tri-pinnacle than their so called affordable house which is same spec like low cost. Bro, i never expect olympic pool size here.

Right now AG is like forcing us to upgrade in order to get the low density block. This is not a fair ballot, Im thinking to complain to Mr Jagdeep & Mr Lim. I don’t mind to pay for the extra car park but i really cannot accept 300k with insufficient electrical points n proper air cond piping & point. My main concern is on their specification (excatly same like low medium cost) Perhaps u can ask AG to show u their low medium cost spec & 300k spec. No need to provide high end spec like condo but at least not the low medium cost spec.

@NB Can we raise this (together) with our state govt? Perhaps if there are more than a few of us raising they may then respond and investigate.

Or perhaps if all applicants like us bekerjasama and opt just for the basic RM300k? Hmmm…

@jason89
As i said unless you rich enough to purchase this project, if not you might reject this Trip and you still can try to change other affordable project which is no need to re-queue again.

@GrowUpPls, me too very happy to have got this. Where to get a new home at this location at such a cheap price. You go Sungai Ara also cannot get a new condo at this price. Yet some still complain this and that. I don’t want those who keep complaining kacau.

To those guys don’t like the spec, then give up buying this project. Choose another project la. Or you can also buy resale low cost flat. Meet your budget.

If you read from the 1st comment until #100, there are changes keep coming from AG.
I am sure there will be new changes again soon until SPA signed.

No one here (of course include myself) even AG staff and state government able to comment anything else about buyer and AG themself because all is subjective to individual.

Different person have different perception.

A) Good
300k with 800sf consider very cheap. Moreover, some people might say there is so called ‘high class’ residential due to address with the words ‘Tanjung Tokong’. Top up 100k = 400k still consider cheap because you can secure 2 CPs with some reno or furnished (I am not so sure reno or furnished whichever under term) and avoid to facing LC.

Some might thinking after 2 years (construction 3 yrs) they can just sell the house with higher price due to 2 CPs + Reno + Furnished.

B) Bad
Affordable house with Condo facilities? Sounds good but it is burden because of maintenance fee. Monthly housing loan + maintenance fee + miscellaneous (annual fire insurance, quit rent etc). Afford, those eligible for sure afford to pay housing loan no doubt but some might not able to enjoy good living style anymore especially those with family. Those are working at Bayan Lepas (Free Trade Zone) will be another concern which quite costly.

Sometimes we have a house seem like wonderful and proud to own Penang Property but how many hours we actually spend our time within the house. I am sure most of time spend within the house is sleeping time.

Just a comment, no bias!

@NB
lol if i am AG staff, i wont b entertaining an ignorance ppl like u bro , im js saying no ppl can make every1 happy, there will always be minority person who is unhappy, in this case i believe u r the minority… thing is simple, if u think its worth it then go for it, if you not happy with it then turn it down lo, what to argue about? I believe there are many other affordable or lmc out there … im not sure how the staff “forcing you”, but i was told the package is optional, either way its your choice. I dunno about the lmc spec/package, they said have not announce yet, but i assume it would be very plain unit.

I personally think it is not very fair to allocate all upgraded units in the lower dense block…
besides, what if the majority of us go for the upgraded unit and there isn’t enough such ‘good unit’ for everyone? Someone has to take the not-so-feasible unit then…

I still can’t decide which to go for… in dilemma….

@jason89
Good idea!!! we really need to work together to bring the issue to our state gov.
They are not forcing us but directly inform us that if no upgrade (100k) then no good unit…another 10k for dp not a small amount.

@Genius

Not entirely sure, but I think the AH scheme bt state govt adopts a first-in-first-out system, so if I were to reject this offer and request for other AH projects I might have to wait again in the backlog.

@jason89
Maybe you can go to other developer office ask them try to change for you? I think they might help you as they also wan to do business right? One thing have to considor is this aspen never build any project before, location really good but i personally feel risky. And also out of my budget which RM399k. Really cannot afford so i decide to reject.

@Genius
I will start checking with the others.

By the way the pluspoints of Tri-P that I can think of:

— Avg price: RM300k for 800 sq ft -> RM375/sq ft. This is competitive, although One Foresta is priced lower, at RM300k for 900 sq ft.

— Land tenure: Freehold

— Location: Tanjong Tokong is fine with me, cause I’m a biker and travel all around Penang with my bike so traffic congestion is not a major concern for me. :p Sungai Ara and Tanjung Bungah are also 2 of my preferences.

— Density: I think Tri-P has a total combined units (~1200) which is less than other AH projects. i-Santorini (Tg Tokong) & One Foresta (Bayan Lepas) have > 2000 units.

@NB

Is there anything we can initiate here? Like an email to our state govt?

@jason89
Sorry to be harsh, do you think is work? Don’t think so.

I read again from the 1st comment till recent one, I don’t think is work because you are just ‘minority’. There are still alot of buyers interested with this project. Unless you able to gather at least hundred of people protest, otherwise, I don’t think gov will bother about it.

Like it or not, based on individual perception.

Sorry for ‘pouring cold water’ but this is reality.

Furthermore, I am sure there will be changes coming up until SPA signed. If u aware and follow the Tri Pinnacle news from beginning, there were already 3,4 times changed on their package plan already. No one can give you firm answer until SPA signed.

@Frustrated
Hey Frustrated, I think RM300k is a very good offer, but then we will be faced with the prospect of getting a not so ‘good’ unit. Otherwise I have not many major concerns.

I just submitted the final doc (my EA form) to PBB yesterday and was informed that it will take about a week and I should hear back on the loan approval status by next week.

Yes I totally agree with you that the packages keep on changing. Also a concern for me right now, because say, my loan gets approved and I sign the SPA, then later on another different package is availble (eg no need to upgrade and we still get a chance to secure units in the low dense block, not facing LMC). Can’t tell but anything can happen. I am thinking of calling our state govt to ask but most likely they will respond saying such offers/packages are set by the developer. Plus yes minority voices will not be taken seriously and we all know lah that there are many other Penang buyers whom I believe can easily afford the home price after the upgrade. Based on the loan sheet provided by them, it’s estimated that for a loan amount RM 360k (90% of 40k), tenure 35 yrs, monthly repayment is ~RM1.8k. Add the maintenance fee/sinking fund and be prepared to fork out RM2k/month, not mentioning yet other costs (insurance, etc). That amount is easily ~70% the starting pay of an Engineer graduating with a Degree working in Penang. Really sad, but this is reality; house prices in Penang is no where near the reaches of mid income earners like us. :'(

I was also looking at the project details sheet from them; it seems that the developer’s license and some permits are stated as ‘pending issuance’. Should interested buyers also be concerned?

Wondering if anyone has already signed the SPA? Those in the earlier batches should have already heard from the bank/AG right?

@jason89
One thing that make me very sceptical of this project is the lack of communication from Aspen itself. No updates. No nothing. I don’t even know the changes of the upgrade package and new available bankers until I visit this site. So no, I am the first batch and so far not heard from them at all, except MBSB banker

@jason89
U can apply loan with PBB already? Do u mind giving me the contact of the banker?

i went to PBB in Beach Street but they told me i can’t apply now, have to wait till i get my unit number…

@Sherlock
So do I, the 1st batch buyer totally lost connection.
I agree with you that AG really did it badly on communication wise. It seem like buyers need to take initiative to keep visit or call them for answer.

Perhaps, this is the way all developer ‘doing the business’ that out of our control; thus, AG this behavior will consider normal. I heard some (no exactly evidence) developers also have very bad communication – no inform the buyer latest status, changing package etc.

Nothing much we can do, all we have to do is keep update each n other here or by other means.

@Sherlock
I’m also the first batch until the Affin Bank call me only i realize that Aspen already change to their package which RM299k (Empty) or RM399k (Additional 1 CP + Reno) or RM429k (Additional 2 CP + Reno). Just wonder why they keep changing the plan and the package without inform their customer since last year Dec until now still haven’t confirm yet. Finally i give up. Tired to call and ask already. Good luck to all of you.

@i
I just got a call from the banker earlier this week and have sent all relevant docs to him. Was told he’s already submitted them to the management, and need to wait about a week to hear back on the approval status. Nothing mentioned about having to get a unit no first before can apply for loan though.

Sure np I can forward his details to you, but will it be appropriate to post them here? Is there a way I can reach you instead?

@Genius
There’s a 3rd package @ RM429k (Additional 2 CP + Reno)?? Hmm ..

Hello, please mai confuse people. Get your info straight from Aspen, bankers don’t know what they are toking about.

Now I know only got 2 rates. Basic RM299,990 – 1 cp & basic specs, Upgrade RM399,990 – 2 cp & upgrade specs. Other incentive to take upgrade include freebies from their business partner ie IKEA & Panasonic, balloting from higher floor and free SPA legal fees.

@geturfactsright
Based on Aspen track records, I’m not surprised if there really got 3rd package, or even the bankers are as confused as us lol

hi, once u guys gets feedb
ack from bank, mind to share which bank has d best offer? mbsb, pbb or affin?

do u guys think its good to create a msg group so we can keep ourself updates? ie whatapps etc~?

Agreed with the msg group suggestion.

Btw did you guys know about another proposed AH project in Batu Ferringhi? It’s has fewer than 300 units while the others I know so far are very densely packed.

@jason89

Is it Granito by BSG?

@q
Nope that Granito is in Tg Bungah, whereas the one I mentioned doesn’t have any name yet. Developer is Iconic Land Sdn Bhd. You can check this website’s list of affordable housing projects. Scroll to the bottom.

It seems to me that TriP so far has the most interest as well as progress (in terms of no of ppl getting selected for briefing, etc). Haven’t heard much from other projects.

Could u pls send the contacts to this email add… teafppt@gmail.com
thanks a lot.

RHB is also the panel bank.. got a call from them during the weekend.

@jason89

@i
Sent. Check your email.

@Sherlock

Then call them. No need to speculate the package right?

@jason89 thanks

Pls ask State to build more Low Medium Cost and not Affordable Homes. At 300-400k and One need to earn 5k to buy this so called Affordable Homes, it is really affordable?

@Penang
I believe Penang state govt has taken much initiatives in this issue. Politics aside, I think there has been much progress on many of the state govt affordable housing projects. Though the price (RM300k-400k) may be a little on the high side, yet these are still cheaper than the current market rate.

A 400k house means a monthly repayment of about 2k (not including utility bills, maintenance etc), but I believe working couples each earning about 5k a month should still be able to afford this. For singles like me :p, I think there is always the option to apply for joint-loan to ease the burden.

For the record I’ve also submitted my application to PR1MA since 2012 and heard nothing as of today.

Just now i call and confirm already..

Package 1
Basic Standard RM299K + 1 Car Park

Package 2
Basic Standard House RM299K + Rm100k include : 2 Car Park + Reno
*Other incentive to take upgrade include freebies from their business partner ie IKEA & Panasonic, balloting from higher floor (Not sure for this..)

Addition Car park = RM50k *Depend if got extra only will sale for other.

about when we can sign the SPA letter, that one currently will delay 1 or 2 month..due to some issue.

feeling like the Affordable house Project same like Government GST..
Starting implement sound like interesting,
when started for public, a lot misunderstanding, mistake and unclean information for both side,make a lot people start confuse and make complain, because of this they keep changing the policy. both different party just keep silent or do nothing..
The end i duno what will happen..currently i feel like “成事不足败事有余; 讲一套，做另一套”
i think this is malaysia style..

i was told extra car park for 50k not an offer anymore
if i take 1st package 299 + 1 car park can they guarantee me later on i can purchase extra car park?

@@CJ

Now only have 2 packages.
AG leave buyer no more option but to take package 2, what a ‘indirect force’!

From the very 1st batch of briefing, we actually have package A which is RM299k + RM50k = 1 more car park. However, now AG revised again & over again.

They even create arguement among buyers because some buyers do not know what is really happening from the beginning. Only those from very 1st batch buyers knew the ridiculous issue from beginning till now. It is really torturing.

The very 1st batch buyers was told during briefing will be notified during Mar 2015 but seem like no one has been notified at all until we personally call them enquiry then only knew ‘something’ still pending for approval and will be delay.

Perhaps, good things is it might be another round of revised package that we never know. Buyers must get ready for any suprises anytime.

@k

I’m the 1st batch ppl, 6 months ago once i get gov and aspen letter (Dec 2014) next day straight appointment and go to their office. Until now half year later they still say pending approval and keep changing the package. I’m not surprise anymore. HAHAHA good job aspen!

Amazing developer…good luck!

Im also first batch went for their briefing.. So far i only know either top up 50k for side by side carpark or 30k car park (back n front). I never receive any additonal information from Aspen group anymore.
They give public bank contact to me,yet the loan only for either 299k(empty) or 399k(with car park n reno) package. If just to buy either 30k or 50k car park will not be included in the loan from PBB
Anyone have Affin or RHB contact?

Yo guys I just got my loan approved. Was informed by banker that I need to go for balloting to get a unit no which is needed for offer letter generation. Gonna call AG tomorrow to enquire once again.

I called and per latest update there is only ONE package left, which is RM400K one. As told I will need to accept and sign the offer letter from bank first, then pay up 10% down-payment in order to be eligible for balloting, which will be in mid-June.

@jason89
Hahahahaha…..just wow. Seriously? What a project!

Reply from aspen on their facebook page:
Dear Joshua, thank you for your feedback. We are indeed calling all the eligible applicants. However, calling all 430 eligible applicants take time. Hence, there will be a number of applicants that will receive the information from panel banks or even forums first before receiving our call. We advise you to contact us immediately if you are uncertain of the information heard or received from third parties. The package is simple now as there is only 1 optional package @ RM100,000. So, a basic unit will still be the same at RM299,990 which will come included with 1 carpark. The upgrade will make the price RM399,990 which will have 2 carparks, full upgrade on the house specs (please call us or visit us to understand the detailed upgrades) For the panel banks, yes Affin is one of the panel banks, however going to any Affin branch means that you will be serviced by a bank/mortgage officer that have no experience in the pre-approval submission and may/will cause issue. Do understand that as you have not paid anything yet towards the property, you have no actual receipts or even booking forms. Hence, “pre-approvals” of loans require understanding of this situation and not every single bank officer/mortgage personal understands this. If you are keen to take up loan from Affin bank, please contact Ms. Heloise @ 012-4980084 whom is one of the mortgage personnel from Affin that understands the situation and will be able to apply pre approve loan for you. Before you approach a Public Bank or RHB branch as they are also our panel of bankers now, understand the same situation applies. Kindly call Mr. Admus @012-4129895 (Public) or Mr. Jarrod @016-6686762 (RHB) for “pre approve” loan application. If you still require clarification, please call us at 04-2275000. We are open from Monday to Friday 9am – 6pm and will be happy to clarify and assist you in the matter. Thank you.

Hi Guys,
I had been told by PBB I can’t get below 4.55% interest rate from bank loan because Aspen Group not allow for basic package. Aspen Group AWESOME!

Did anyone sign offer letter frm banker alrdy??

Hey guys, an update here. My banker actually helped to call Aspen to confirm again, and this is what I got from him:

Latest:
There are 2 packages in total; first is basic @RM300k and the other is the “upgrade” package @RM400k (add RM100k) so there was some mis-communication as I’ve earlier posted (in other words please ignore this one which I wrote previously):

jason89 :
I called and per latest update there is only ONE package left, which is RM400K one. As told I will need to accept and sign the offer letter from bank first, then pay up 10% down-payment in order to be eligible for balloting, which will be in mid-June.

Actually, the story is, last Thursday I first got a call from my banker saying my loan has been approved, and was required to get a unit no before the bank could generate an offer letter for me. So I contacted Aspen the following day (Friday) where I was informed that there’s only the RM400k package (wrong info by Aspen rep who spoke to me. Passed this message to my banker who then called Aspen to check.

I find this really strange that only selected bankers from all these banks “understand the situation” (as mentioned by @@ above). Also if calling all eligible applicants takes time does that mean that there will be more than one round of balloting?

Hi mind clarifying? What mean by “not allow for basic package”?

Heartbreak :
Hi Guys,
I had been told by PBB I can’t get below 4.55% interest rate from bank loan because Aspen Group not allow for basic package. Aspen Group AWESOME!

I just called PBB to confirm once again and was told that if I were to choose the RM300k unit (loan amount = 90% or RM270k) the interest rate would be 4.55%. Bravo!

ASPEN told me that the 2nd letter will be out by mid of this month

Just update frm aspen delay till july the 2nd letter;(

b4 u ppl say anything else, 2nd leeter cannot be send out bcos APDL application still pending. They submitted since April. So can only wait for approval. Want blame blame KL cos APDL is approve by them

http://www.penanglang.my/040615-203

tri pinnacle will seeing any graveyard?
sorry for my silly question.

Hi guys, what’s the worse that could happen if, say, I signed the offer letter from bank but the so-called “2nd letter” was delayed?

@jason89
I think we r nt required to sign anything with the bank before we get the unit no via balloting i.e. Afta spa signing… N today i went to aspen n they r stil nt sure when we can sign the spa as they r stil awating APDL permit….

However, the revised upgraded package has some add i.e ikea furniture covering living room, master n second room… Thr r oso some kitchen reno included, plus 4 air con n two water heater… Lastly they wil absorb the spa legal fees… Tats the latest info i gt….

@@@
Hmm…, that doesn’t seem to be the case for me, as what my banker told me was: I need to sign the offer letter then pay 10% D/P in order to be eligible for balloting. Then get a unit-no, pass this info to the bank and they will prepare a supplementary offer letter on top of the offer letter signed earlier on. So without signing the offer letter from the bank (for our loan), I don’t think we are allowed to attend the balloting by Aspen Group. Anyone can correct me if I was wrong?

Yes the revised package which you stated is also what the agent from Aspen Group told me when I met them last month. Not sure if last time they mentioned 4 air con (if I remember correctly they mentioned 2).

To add, I was told the offer letter is only valid for a month from the date of approval. Mine got approved early May, so it will expire early June.

Does anyone has the details about the upgrade package?

I got but how to upload here?

affin & public bank which one you guys suggest?

anyone can create fb group for us to join and discuss there?

@qonop
I called Affin to check and it seems that they’re giving a slightly better rate. And the banker advised me to take up the upgrade package. Still in a dilemma.

Yes can anyone create a FB Group? Or shall I proceed to do so? 😉

I can create a whatsapp group chat.. if u all dont mind giving your contacts ..

Suggest one person create the WhatsApp group and put his/her contact no here. Then the others who are interested can msg him/her to get added to that group.

Received a call from Aspen.
According to them, they will send us a letter these few weeks or early July.
Once received the letter, we have to pay 10% down, ballot, and sign SPA, all simultaneously…
Then only sign loan agreement… (if i understand correctly)

They will build 3 show units later and those who opt for the upgrade will pick one out of the 3 design.

@Sam
I have no idea too…

Anyone knows how?

Which mean they offer 3 packages?

jason89 :
Suggest one person create the WhatsApp group and put his/her contact no here. Then the others who are interested can msg him/her to get added to that group.

yes pls do.. jason pls go create

Sure I can do it if there is enough interest creating one. Need more responses if this is ok with you all.

i agree with the whatsapp group idea…

Btw, jz received a call from aspen regarding the estimated date of signing SnP… The staff told me about the upgrading packages, two weeks ago I went to their office and they said other than the car parks, reno and furniture, we will get also 4 air cons and two water heaters… However, just now the staff told me that only 4 air cons POINTS and 2 water heaters POINTS will be provided, without the units… Anyone can clarify this?

@Genius
one upgrade package at additional 100K, with 3 options…

I posted link to line group i created however it seem like pending for moderation aka approval from property penang

line.
me
/R/
ti/
g/
WtNLUpDfAn

Finally! u may join the line group using above address, pls combine the ‘breaking’ link in previous comment back into single url

How to join the line group?

@@ :
How to join the line group?

just copy back the above link that break into few part bck into single line of url and paste at ur browser

Hie. Has anyone created the whatsapp group? Would like to join.

l3elletan :
Hie. Has anyone created the whatsapp group? Would like to join.

pls use above link to join line group~ tq~

create watsapp pls….most of us dont use LINE i think.. just put ur number and those interested to join will add u..

@jason89
A WhatsApp group for future neighbours of Tri-Pinnacle is a great idea…

jason89 :
Sure I can do it if there is enough interest creating one. Need more responses if this is ok with you all.

A WhatsApp group for future neighbours of Tri-Pinnacle is a great idea…

@rosered join the spacing tgt n paste it into ur browser

@Rosered just combine the link into a single line then paste the link into your phone’s browser. LINE will automatically open and direct you to the group.

still can apply for this??? or is already sold out d? thnx.

I can create a WhatsApp group but I am not quite comfortable revealing my phone no here though ugh.

Can we make the group private for buyers only.
No AG staff & No Agent plz

jason89 :
@Rosered just combine the link into a single line then paste the link into your phone’s browser. LINE will automatically open and direct you to the group.

/R/ti/g/WtNLUpDfAn
like this?

Today News
http://www.kwongwah.com.my/news/2015/06/17/158.html

Please…I want to join the whatsapp group

JC :
Today News
http://www.kwongwah.com.my/news/2015/06/17/158.html

So this project is ‘undersized’ ?
300k should have 850sf instead of 800sf?

Join the line group pls@KS

http://www.themalaymailonline.com/malaysia/article/delays-in-developer-licenses-advertising-permits-affecting-affordable-housi

Omg! “”””GOOD NEWS?!!!”””

@q

Or you can say this project is overpriced. Also they are charging RM50,000 for a carpark. This is ridiculous. As a penangite I wonder why is this allowed by Penang govt. So called “affordable”. Sigh.

Developer also keep on changing the package. I wont surprised if later they come up with few other new packages. The state govt should really take a look into this.

By the way is anyone already signed any bank loan offer ah?

Check Ramah Pavilion for example. With RM399,999 we can get a unit 1355 sq ft. Their 800 sq ft is only RM198k. What a big difference.

ya agreed, with the price i better go buy a 2storey terrace 1600 sqft at simpang ampat…landed!
just a bridge distance to reach penang!

Different area has different land pricing and therein sets the price of the housing there. So its incorrect to compare a unit at town area to teluk Kumbar.

Yes you can buy at Simpang Ampat. That’s your choice. But to be fair to developer and all those who buy this development, your pricing logic is off-whack.

Having said that, a free market dictates pricing. Demand vs supply. End of the day, you like this and willing to pay this price, then buy it. If not, search for one which is suitable for you in all aspects including pricing and be happy with it. Just like I am happy with staying in town area and this is the price I am willing to pay.

Cheerios

Yoyo :
Different area has different land pricing and therein sets the price of the housing there. So its incorrect to compare a unit at town area to teluk Kumbar.

True, but if we were to make comparison amongst Affordable Housing units, then this project is a bit overpriced than normal. Aspen is charging us RM50k for additional carpark, which is itself a huge amount. No guarantee that we can get it unless we choose RM400k, so this defeats the purpose of providing affordable home.

Yoyo :
Different area has different land pricing and therein sets the price of the housing there. So its incorrect to compare a unit at town area to teluk Kumbar.

Also true, however I can consider myself lucky to get the offer from Penang state govt as well as Aspen. If I turn this down, I don’t know how long need to wait only can get the next offer. I know someone who turned down the first time and after almost half a year still no news on the new offer/project.

One thing I don’t like about Aspen is all these advertisement when no show-units is available for viewing. Also they are being impartial by giving buyer who take upgrade package a better position during balloting, to get unit with better view. Why is this allowed by our state govt??

@penang_kia
If u don like this project very simple, reject it and go to other developer that you want and ask them help change to their project for you. As long as you’re in waiting list, i believe they will help you out and also more easily to them IF you’re in waiting list. I already reject this ridiculous project and also get other offer from gov. For those buying this project, pray hard everyday and good luck. 😀

@Genius
Can share which other project you got? And how is the proper procedure to reject?

I don’t agree that just because it’s under affordable housing, prices should be the same irregardless of area. Should we have the privilege of demanding for low pricing just because we don’t have a house? Who in the right frame of mind from a profitable organisation perspective will not want to profit? Unless you are a philanthropist, then no one will build without earning a profit. As to the margin of profit, its subjective and not our right to demand from others, just like others won’t demand from you to lower your salary so that your company can produce their product cheaper and charge end user cheaper.

Even in Singapore, their government build housing for their people (HDB) also sell different pricing for different areas. Mature towns are more expensive. And bear in mind, land is free because it’s government land, yet they still sell different price. Therefore private developers in Penang are using their own land to build these affordable house. You might argue they bought their land cheap last time. But that does not mean they have to sell you cheaper. If you think like this, then old terrace houses in say Island Glades need to sell you cheap?

At the end, just be thankful that we can have the opportunity to have a house we can call home, a roof over our heads when outside market (non affordable homes) are selling much higher. I always say look at things in a better light and you can be more positive and happy everyday. Things that cannot be changed by myself (ie out of my control), no use grumbling and fretting over it. You may not change anything except add more grey hair and wrinkles to yourself.

Cheerios

Ps. My cousin rejected one affordable home and applied for another but many months have passed, and she is still waiting…

Nnever demanded nor stated that the price be the same for ALL Affordable House projects. That wouldn’t be right. The basis of which my comparison is done is to show how slightly overpriced this project is as compared to others in Penang island itself. Yes Tg Tokong is considered a prime area, but I am specifically referring to the advantage given to those who take the upgrade package. Personally I wish that all is given a fair chance during balloting, but that won’t be the case. This is affordable housing, and prices should be affordable to us and the state govt ought to do better to help first time house owners like us.

In Singapore, just look at their currency and how much one can earn per month over there vs how much one can earn here. Not just in Singapore, but in almost every other state prices of house (or rental rates) are always on the high side for those closer to the (mature) towns.

I am thankful for having been given the opportunity. Just a little disappointed with the package offered here which seems impartial.

The APDL for this project have been approved. Hooray!!!

Anybody here applied PBB? What is the rate they gave you?

PBB offered 4.55% for 299k and 4.4% for 399k.