selling at 1 million to get seaview. I better buy The Pier with lower price and better build quality.

@agmaster
Location different mah.

@agmaster
fully agreed!

the location is not as prime as Pier as well

@chookimhock
You’re right. That’s plenty of option & the density is quite hight.
The only 1 point that attract me was bigger size of balcony

@agmaster

The location is acceptable for me. I have to check with salesperson to confirm the parking allocation size first before purchased.
Experience & issue before in seafront condo to park my luxury car. Ended up I purchase The pier…..

@chookimhock

This is a very good project for own stay. Reasonable price & decent location & density.
Just book a unit RM960k+ only 1206sqf.
The layout is spacious & very big balcony with city view.

@life, location is good but this is a flood prone area, 8 level car parks too high and 960k you will get lowest floor with the highest car park level due to small land development area (3.38 acres)
Ceiling height – standard
Car park level too high
Density – 600 units / for two blocks – high density
Lift – only 3 per block
Package – normal, no free air cond or cabinet.
Finishing – VST developer, just look at Mont Residence, not BSG project like Raffel Tower
Balcony nearly 250sqft if you choose sea view, why waste so big space for outdoor?
44 storey is too high for luxury development, nothing impressive.

Rental yield expected to be very good and high demand as KDU is walking distance.

@millionaire
Hahaha….KDU already has a new campus in Batu Kawan, most of the students have been moved there, with the last batch totally moving over soon. What KDU demand? What rental yield?? Don’t simply piang lah!! Actually, sales have been surprisingly slow, with only very few “seasoned” investors buying. BSiew itself will be keeping ~20+% of the total number of units for their own long term “inheritance planning” as usual. One of the reasons for the slow sales is precisely the expected bad rental yield, as the location is not a preferred location for expats.

@millionaire
Sifu, would you mind to share your experience?
I checked with developer & current entry price estimated around 950k+ after rebate. If approximately monthly bank installment around RM4k then what would be market rental rate should be? RM5k monthly possible & total close to 600 units? How many KDU student afford to rent with such high rental fees? I have doubt if investment.

@chookimhock
The workmanship of the Asia green building for Zen is really good. Materials are impressive and durable, showcasing a commitment to quality in every aspect.

@AG sucks
That’s pro & cons brother dear.
Personally, I like the location which just in between Georgetown & Gurney easily access for me as parent just around the area too.

My unit is in mid-lower floor but it is good enough for a city view my preference. Carpark floor side by side at 5th so it’s still ok for my point of view. For new project usually we have no reason to worry about flood. I pick this project because 3 reason.

1) My favorite location convenient for myself family.
2) fully residence & no mix development
3) Spacious balcony because we can do have some plant flower which is my favorite. Perhaps not everyone…

@AG sucks
I think there are 4 lifts per block, not 3 as mentioned by you. With 300 units per block, 4 lifts should be ok if they are high speed lifts (~4 m/s). Not sure what lifts Lumina will be using, but if you take Mont Residense as a reference, the lifts really suck there, always breakdown.

But yeah, I agree with you that the big balconies are a waste of space. And for those units with a slightly bigger yard, you’d then have the bedroom2 window opening out to the yard, which is as good as no windows.

Overall, ~RM 1 mil for about 1000+sf (minus balcony) of internal built-up space, I’d say it’s not cheap (in other words, bloody expensive). I’m very sure one would be able to find a better deal (bigger unit in a better area) in the resale market (meaning older condos). Then again, if you’re not cash rich, and hence need a high% for your home loan, you will have no choice but to buy new projects from developers (though more expensive) as developer/bank/valuer would have made some “pre-agreements” for a “smoother” home loan process for buyers.

@Life is wonderful
In case you missed it, for georgetown view units, you will get evening sun ya, meaning your unit will be damn hot during the hot months. Based on market research, generally for carparks, people would be ok only up to 4th floor, anything higher than that, you would have difficulty selling your unit next time when buyers actually have the option to choose from the resale market. Just sharing.

@walter, i believe is 3+1 (bomba) lifts as I was told by sales personnel.

@life, if paying nearly 1m for such a high density project, car park at level 5, net internal area 1100 sqft, KL can get a much better deal with branded developer.

Go check the surrounding houses and ask, you will know this is a well known flood prone area. If you don’t believe me, go look at water stain marks before you make any decision. I know Asia Green workmanship is bad, some jokers even use my name to post and comment, this is what they good at. My relative just bought Mezzo, maybe better for investment purpose.

@YongShee
exactly. the material is better than Setia V!

@chookimhock
Not really. Some said even better than ECO-World.

It depends on the price tag. If you check on Quaywest, this project is a landscape winning project.

@AG sucks
Ya lah, 3+1=4, a bomba lift is normally just a bigger sized passenger lift that can be used as a normal lift, but it’s just wired to still operate during emergencies while the others stop.

Personally I think The Mezzo can’t be a better investment than Lumina (not to say that Lumina is good for investment purpose). Although The Light is located in the middle of north and south, but it provides neither convenience (lacking all the amenities that a mature neighborhood has) nor peaceful living (due to the constant noise and dust from the expressway), hence you have Waterside condo @ The Light that brings very low rental yield (coz unpopular with expats).

As for own stay, if i’m forced to choose between ONLY Mezzo or Lumina, I’d definitely go for Lumina, due to it’s proximity to Gurney, greenhouse coffeeshop, Pulau Tikus market + shops, Macalister road eateries, Island Plaza, Continental Bakery and a lot more. These are the offerings of a mature area. Then again, I wouldn’t buy Lumina, as I can find much better buys in the secondary market.

@TuaPui
Thank you for sharing. I noticed that it could be evening sunlight 3pm to 7pm for Lumina. Hopefully developer will improve the drain system surrounding of project.
Mezzo is a very good choice for investment. But somehow, the location is little bit far away from my favorites location.

@walter
Good point. If for own stay rather just pure invest then Lumina perhaps a good buy. Off course that’s better subsale option if you don’t mind to spend extra money for renovation etc.
Even in PG1 some unit transacted at range 900k to 1.2M with bigger space off course better location from my point of view.

You bring up a very good point. The light is unpopular for expats. Why? Perhaps it will improve once shopping mall full in operation. Personally I feel is good for shopping & visit rather than long term permanent own stay for The light city. If I have to pick among those area then I prefer go for Queens residence instead. Just my personal opinion.

Mezzo is over priced. Not sure the area is flooded. Never heard from friends staying in the area. Heat from afternoon sun, probably. Developer’s quality, probably bad for Mont Residence – heard about it too. For Codrington Residence – not sure about the quality. Yet to be tested. Codrington and Lumina probably under same arrangement i.e. shareholders of BSG and VST formed JV VCo. This means it has NO direct connection esp. with BSG (just tracked the sales of land by Mahsing to MorningJoy Sdn Bhd in Sep 2022. You will see the particular of the shareholders of MorningJoy. And not sure the relationship between Morningjoy and Unicorn Solute Sdn Bhd. Maybe Unicorn is new name). Nevertheless, apart from flood (if any) and potential concern on quality, location is good for owner occupation.

@Life is wonderful
“Why is The Light unpopular for expats?”. You should maybe ask that question the other way round –> why should The Light be popular with expats? In my opinion, there is only one area in Penang that’s popular with expats, which is Pulau Tikus-Tanjung Tokong-Tanjung Bunga area (call it the “Northern Triangle” if you will). It has been popular since 40 years ago (starting from PG1 time), and will continue to be so the next 40 years. Of course, I am not saying you have zero expats staying in other areas, but in terms of “popularity”, the Northern Triangle will be the champ, more so with the up and coming Gurney Bay.

@walter
Correct. Those are MM2H expats hotspot traditionally in north.
I don’t see much of expats populated in south.

Correct. Ang Mos/expats holding senior position prefer locations that offer a well blend of greenery, leisure, amenities and schooling. The Chinese MM2H visa holders emphasize more on international school because they are here to accompany their children. Even those Chinese / Jap migrate to PG w/o children prefer northern tip of PG . These are the reasons why Tg. Tokong, Tg Bungah and certain part of Batu Ferringhi are popular among foreigners.

Anyway, as of-to-date, Lumina sales is only 30%.

@Puzzled
I’m dilemma of Lumina or Queens residence Q3.

I have 1M budget here but spinning around these 2.

1200sqf (3 rooms)vs 1000sqf (3rooms) both city view.
Can any mind to share pro & cons of these 2 project?
Some opinion of future development & also appreciation?

@Puzzled
I believe 80% of that 30% are units reserved for BoonSiew. They have this habit of keeping ~25% of the total development units for rental income. Which means sales are very very slow at the moment. But that’s BSiew’s strength, they don’t rely on sales to cover development cost, they are cash rich. Btw, the agents are really doing a lousy job. Hahaha.

@JC
If both city views, Lumina will get super hot evening sun, while Queens will be facing the dusty and noisy expressway which is about only 500m away. Both projects are not in an expat preferred area (hence limited rental potential). For living comfort, I have a feeling Lumina should have an advantage due to it’s proximity to many conveniences as I mentioned before.

Appreciation? You can’t expect to make money in capital appreciation in the short term for a place like Penang where they are still more than enough land for development to cater to demand in the near future. The population here is growing very slow, if not stagnant. Income of the middleclass is picking up but slowly while they having to bear with price increase for lots of other goods and services and hence limits disposable income.

Long term appreciation wise, it’s difficult to say as it depends on the on-going maintenance of each project. But Gurney Bay is a bright spot, which could potentially be a game changer in terms of foreign interest in our properties, so Lumina being somewhat near Gurney Bay would probably benefit from here.

@walter
Nowadays agent all so kids, how many are them really know about property? Last 2 weeks when I visit sales gallery, I am walkin customer. My coursin look at all agents there she ask me are those ppl are sales representative, the way they present themself not give ppl confident level to purchase, more like a group of kids came for intern. Then we at the end serve by direct BoonSiew staff which look more professional and well represent their company.

Thats why I always look for developer direct staff when come to purchase a property. information they gave is much more accurate.

@JC
It’s not a wise decision to dump all 1M in a same bucket.
Lumina & Q3 are over price & size is very small with 1M price tag.

I invested in ZEN 6 penth house & recently I awaiting Ideal residency which are more good for investment.
Ideal residency layout is very good if you check this out & it’s less than 500k when I purchased.
Speed wisely & don’t put everything in same bucket. Q3 price is stagent & won’t be appreciate further. As of Lumina, that’s plenty of choice then this.