Penang World City
Penang World City, a mixed residential and commercial property project by Tropicana Ivory Sdn Bhd on a 102.56 acre site in Bayan Mutiara, Penang. Comprises a mix of residential units, shopping mall, office suites, office tower, hotel, retail spaces and open mall with boulevard.
The development will be completed in eight years and work on the first phase is scheduled to begin next year.
Related Posts:
Tropicana Bay Residences @ Penang World City
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Comrades,
my apologies….it should be The Light Linear (not the light point). Fren of mine bought a unit , level 12 facing Png bridge 1450 sqft (2 car park) from sub sale market at 930k in end of Nov.
If all the buyers stand united, the developer will back down by giving more flexibility to buyers.
joint venture project is dangerous…both parties want to get the most advantages from the project… who get better units, whose contractors to be used, whose suppliers to be used, who have to pump in cash flow to turn the project, etc, etc.. and definitely a lot of conflicts along the way…
This is not a right comparison.
STP – landed, nice landscaping, low density, good theme and unique, very piece when drive in, and it is from E&O.
PWC – condo, condo and condo, have you seen the landscaping, what is the special about the condo compare to…. let’s say Gold Coast/ Putra Merine? definitely high density, Can’t imagine the heavy traffic when drive through in future, and, it is from Ivory.
To me, other than the waterfront, free publicity when bought the land over from state gov….. no other selling point. Actually, if you have that money, suggest Gold Coast or Baystar better.
800k can get 1500sft Baystar, guaranteed seafront. Low dense. Walking distance to QBM.
I think Ivory is waiting for people working in Singapore to come back during CNY to help to improve the lackluster sales.
Really ar? I though >1M? Smaller unit facing west maybe.
@PG Guy
No way you can get RM800K for 1500sf baystar. If have, quickly buy. btw, 1500sf face road…
I would prefer baystar (low dense) compared to Gold coast but the problem is baystar only have big unit from 1500 sf….
@topenang
Still alot of unoccupied units. Do some bargain hunting instead of using mudah as defactor.
@ Bryan
What i mean is you will never know how does the landscaping look when you buy during launching. My friends bought STP 3 ST first hand but at that time RM700k, it is like jungle and reclaimed land and nearby tg tokong squatters area.
Everyone is cursing and said a lot of negative comments such as overpriced, tsunami bla bla……i regret i did not follow him.
For PWC, either you take a risk to invest or just wait until it is fully completed . You just cannot get a good deal if you going to sit there and wait for the whole project to complete. . . unless you willing to pay double the price when it was launched.
@ PG Guy
You try bargain and see whether you can get or not….if you can below RM900K, grab it !
I personally get good bargain for some properties (5% <market price) , and when you want to confirm and pay the earnest money, the seller dont want to sell at that price already. This is Penang sellers ….. "chiak pah beh pao"
I hope PWC can be the 2nd STP, or The Light IJM.
I hope PWC can b the 2nd STP or The Light IJM.
Agree with you if PWC is developed by SP Setia or Mah Sing, or E&O, IJM. But Ivory, they have too many failures to show.
hey, if you don’t like the project, just don’t buy
no need to throw cold water because you can’t afford, u want others to stay away also? stop this nonsense
Do u all fun think that is a good investment?Only pay 7.5% n will get a good return?
anyone bought 1000sqft unit? how much is it?
This is forum where people throw in their views and opinions about a particular project or developer and not a forum for buyers attacking non-buyers or vice versa. Let’s keep the discussions healthy.
I lost track of this thread, not sure if we still in PWC or other properties in Penang..
i heard the open a show house/office opposite the site (near queensbay), anyone went to check?
If for 800k, i’d buy Gold Coast rather than Baystar. Ive been Baystar few time and feel that it is such a boring place to stay in…No landscaping, swimming pool small like hell, very simple garden. Only advantage is near to QBM, that’s it…
800k u can get 1600sqft Gold Coast at main tower with facing tremendous jerejak view and bridge view. Lots of ppl called it “Million Dollar View only @ Gold Coast Resort” Try look at the its landscaping, superb ! It was an award winner sometimes ago and still keeping it’s beauty until today…It’s really a resort-like living…
I am not promoting GCR rather talk bad abt Baystar…It ‘s only my personal feeling after been these 2 condos.
If you can’t stand a negative commends in this forum, better don’t buy or invest a property. When you try to sell or rent your property, the potential buyer or tenant will condam your property like no value. To be positive, take it as a 1st test to start your property purchase.
you guys must be live in “barter systems”…. hopefully can find someone like you to work in my company . I will give 3 meals with one soup….. plus a shelter . face the reality la. .
Sales ppl never mentioned abt there would be another 4 blocks condo with higher floor to be built infront of a,b,c,d & e which currently launched.
What is the use of choosing seaview? I will try to cancel my booking today.
Which block and unit?
All developer & sales will only show the good side for promotion.
If things go wrong, this will be the biggest scam in Penang history…
If things go well, Ivory will be the most successful Penang developer in history…
No matter how it turns out… Ivory already pocketed tens of million from your 10% downpayment for Phase 1A, and maybe tens of million more from Phase 1B.
Hope the picture is clear here, don’t be GREEDY, guys.
@Raymond Yap
Anything can happen lah…last time the grand Bayan Mutiara (now QueensBay Mall area) also been abandoned and only resurrected after 10 years only with the help from white knight..
This is different game all together. Billion in land price not paid to State government yet, and Ivory wants to hold your money for next 1-2 years (may be longer). If things go wrong… NOTHING on the site, and worst still your S&P not even stamped yet. WHO can help you??
I heard the smaller unit are still available. Why they told me all are sold out execept the bigger units. So I take the bigger unit 1320sf with 980k.
i found out the price quoted is actually a list price. My sister just got the booking receipt.
For example 1320sf : List price x 0.97 x 0.95
List price (LP) RM 980,000.00
Selling Price less 3% : LP x 0.97 = RM 950,600.00
Down Payment 10% : RM 95,060.00 ( after 5% rebate, you pay only RM 47,530.00 )
Nett Purchase Price : RM 950,600.00 x 0.95 = RM 903,070.00
for your information, you can get more information at www.dijaya.com.my
check out the 5 floor facilities avaliable including infinity pool, tennis court, squash court, cafe, karaoke, nursery, mini cinema, hair saloon, roof top sky louque etc etc….
Those already booked should be happy now
@topenang
The quoted 1320sf price for which floor?
3%+5% discount for first few days right? Now they only give 5% discount…..
That place fung shui not so good leh…. queensbay delay more than 10 years…. maybe cos facing Jerejak which used to be leprosy centre… many ppl died there….chi is not good….ppl visit the island always have ghostly encounter…. my relative disturbed by two ghosts.. both with skin problems… when she stayed at the resort on the island….. decide wisely
@islander
for very high floor. Above 18 floor
Folks, pls check at the summerton project…the price different is sky n sea despite its 500m away. Does the pwc price make sense? Maybe make sense after 10 yrs but certainly not now. The average price is rm580 sq now. Pls considre this point unless u r tan sri syed mokhtar son
Certainly they must be a risk. That is why high risk high gain. But nowaday, no risk also gain@Mad
We bought a unit type F, 1590 sq ft on 2 February 2013 (Sat). After 3% discount, its price is RM1.1 million (5% rebate is not included yet).
Very great project and it is the first phase. Must invest if afford. Comparing PWC to Putra Place or Gold Coast, is like comparing BMW to proton saga or perodua myvi…
kms
@kent
Summerton is leasehold.
@topenang
For Block C top floor, 1320sf West (pool view) ~980k, East (seaview) ~1M.
If yours face west, then you have 3% discount more than current package.
@mr.business
Hi Mr Business, I really hope your judgement is right as u r paying ~RM700 sf ft. Does the BMW so expensive compare with Proton Saga?? I am just puzzle and all the best 4 U
@chin
Agreed with Chin…we are taking high risk despite high price. I just cant understand why some people make such decision.
Right, it’s leasehold but price reasonable and sustainable. @cbs
@chin
It is normal you are puzzle. From what I observe at the sales gallery, those buy PWC are either senior engineers/managers (minority) or businessmen/rich family (majority). They do not buy PWC to sell/rent to you, so it is normal you are puzzle.
About our judgement, on 6 October 2010 the first day soft launch of The Golden Triangle Condo, we bought 2 units of 1165 sq ft at RM329200 and RM331200 each. Both units come with extra 1 non back to back car park. We plan to hold and rent them out. What do you think about our judgement?
Looks like block D is now selling higher psf vs block A and now 5% discount instead of 8%.
615sf units are from 800psf net onwards! interesting to see how they will price block E..
To all buyers and non-buyers, Happy CNY…..
Happy CNY! If this project is expensive, then can go to Komtar to register for the affordable house or LMC house. Batu Kawan’s affordable house will be very nice and strategically build.
It is so overprice…so crazy pricing.
The price is good if those bought earlier with 10%
disc and 800 sq ft below. Look somewhere else
It is so overprice…so crazy pricing.
The price is good if those bought earlier with 10%
disc and 800 sq ft below. Other than that,look somewhere else
If expensive then dun buy… if cheap buy…. very subjective …. decide… decide… decide
Yepp, mayb expensive for me. Cheap for others
wats the price of 600+ sqft in Block C and D?
@smallunitbuyer
615sgft — 515k~565k
@islander thanks
Is my list of panel bankers correct?
1. Public Bank
2. UOB
3. CIMB
4. Affin Bank
5. Ambank
Which size has more availability currently?
Pls call yourself
I was there yesterday.
Seems like Block A all covered with stickers
There’s a few more units for Block B. Most of the C are gone. There’s various type of units available for Block D
I took photo of the units available but no idea how to load it
@JJ
can you send to me? quartzcan@gmail.com
@Jerry
which unit you bought?
maybank not in the list?
Block D high floor 872
Do you guys (buyers/potential buyers) for phase 1A want to migrate to the speciifc tread created by Admin and leave the general comment about the whole project here?
Oic
Sure emailed
If most of the units are reserved by staffs and bulk buyers, i am sure we will see PWC advertisement in the newspaper repeatedly when it officially launch by year end. A sign of weak demand when still have so many units available after the havoc last week at their sales office. Potentially another straits garden.
How much do you think you are able to sell or rent out your GT when complete?
If most of the units are reserved by staffs and bulk buyers, i am sure we will see PWC advertisement in the newspaper repeatedly when it officially launch by year end. A sign of weak demand when still have so many units available after the havoc last week at their sales office. Potentially another straits garden.
This WILL BE another straits garden … those speculators wlill get burnt .. roasted
Wats is the price for 1320 ft,block A,D?
HK,
the price for 1320ft is around 900k.
Most expensive around this area….will go higher soon….with newer launches…..Penang property is going up, up and up…..heard even Psy now wants to own a place in Penang!
at these price, only fools buy …
A fool and his money are soon parted
Thanks,fisherMan
Only fools will keep their money in the bank these days!!!!
@Penang Homes
What he mean’t was “only fools buy …” this property, you still have other
property to buy definitely not this one.
Ah… that I must agree…. choose wisely and you will gain in multiples
Also… do try to invest in island properties instead of mainland
@aah dog
Aah dog, so what price do you think is a good price to buy ? mind to share your findings ….or which new project do you think is better investment compared to this one ? ….
Can they do away the bus station? Raather odd to have bus station in this small piece of land.
greedy & unscrupulous developers who involve in price manipulations & unethical business practices should be arrested n jailed …
@Jerry
For the convenient of the residents and reduce traffic congestion in this area. Bus station is a good thing don’t you think?
@JR justice
this is the phenomenon in the market now.
they are businessman, not doing charity.
unless goverment can fulfill the demand with affordable houses,
you still have to face it….
Unwise to follow “half truths”. Cash is still king. Those who borrow with no reserves are in high risks. Heard of those who are left stranded in mid-air? The higher you go, the harder the impact. The less cushion you have, the more painful your fall…..some so hard, they punch below the ground ! Fly with caution….these instruments are not fail proof !
My opinion for those who bought pwc is mostly for investment purpose. How many buy for own stay? I observed quite number of buyers just buy bcos their neighbours/relatives/friends buy, seems like “ppl have then i must have too”. Many of them not even what unit they buy too, as units are sold out very fast. Developer really created sense of urgency during launching. I can feel that. Just my opinion. What u guys thinks?
got also don’t want to tell you lah…buy himself first, then only tell you years later
@F10
Good that so many rich people invested in Penang properties. Guess the price will be going up again this year.
@topenang
Buy anywhere still gain in the long run. If you want to know which one gain the most, nobody can tell. I think PWC capital gain or rental return will not be that high with such high density. Unless MNC keep hiring but seems like the trend is reversing.
They are the rich men toys. If “not so rich” also want to join the game… beware of the potential injury.
Look at the current sub sale & rental situation for these high end units, to own them, you must have the “money” to hold and leave them vacant for a long time.
@PG Guy
At the end of the day, one has to have confidence in the administration of the State to do the right thing to attract tourists and investments. Penang is merely at the initial stage of development.
@Cash
Well you are “half right”. Cash may still be king but question is how much cash?
@JJ
Can you email the photo to me as well?
Thanks ya!
@lluna
my email llunaseaz@gmail.com
@Raymond Yap
It is all depends on the rental rate. If the rent is only RM600-700 per month for a fully furnished studio, I think many young couple won’t mind rent here. Holding a vacant unit will drain your spending power, we are talking about 2k-3k a month here. Those bulk buyers set to gain the most as their units are cheaper and with better view, it is easier to dispose off.
@zonefinder
I like tourism because it is green industry and sustainable. This would help the demand for property by the service industries. I think the large infrastructure projects such as the highways, tunnel and monorail will further boost the demand for property in the next five years.
@Oppa gangnam style
Dont give childish comment here. You always comment based on your own financial capability which is just enough to invest one. Those rich buyers invested in many properties. Even if one losing or left vacant , they also tidak apa lah. . .
I still think that it wont be wrong if location is right, huge masterplan project and by 2 public listed developers.
He/she has a point – people won’t share to you but they will for sure buy first. location is definately good, but 700psf cuts down your profit margin by a lot, buy for stay is maybe ok
You can spend cash anytime in any amount. Property needs to be converted into cash before it can buy you anything. Can you cut half a property and spend half of it anytime? Cash is king in a falling economy. All speculators will steer clear of properties in that same time. When you need to hold your pants, then you will understand that cash is the real king! For the time being, you can rejoice…
@Cash
Like I said, you are half right and I do agree with you that having cash is essential. You seem to imply that its either cash or properties which is not smart…either way. You mention falling economy. How do you know that the economy is falling and consequently property prices will be falling? When and for how long? Nobody knows.
What I can safely say though is that 10 years from now, those who have been waiting and waiting for a Big correction to come before buying a property will be cursing and swearing…
there won’t be a correction, there will only get a flattening, and then you see your money shrinking lo
In long term…cash loses…. history has proven it over and over again…..$$ shrinking by the second…..be wise and invest…. but invest wisely…..
This is free market economy…..the rich will be richer while the poor will remain poor…..this is a fact and has been happening throughout the ages just in case you do not know……so either you stop whining and start working hard or else just return to your corner and be SILENT
@zonefinder
If you acknowledge you or anybody do not know when is a falling economy (didn’t say it is now), therefore you could just be in deep trouble before you know it. Rising for the next 10 years is safe? If I were you, I would rather acknowledge I don’t know that either. There will be no regrets even 10 years from now for the wise ones will know how to balance his cash or his property investment. It’s regret only when you think you don’t make enough.
@Cash
You have the point, but how to execute? Cash will depreciated, and property may appreciated.
How about flexi home loan? One can pump in the money into it so that no interest to be charged on the loan principle, at the same time, the money you pumped, still can withdraw anytime? Is it fulfill your point to balance between cash and property?
note — “may”. property MAY go down also
What’s the point argue here.. even you wanna buy no more..
For those who buy good luck…
For those who dont also good luck on your other investment
Cheers
It will never be enough no matter how much humans have…..
@JJ
where got argue? they are just sharing perspective. good for novice property buyers.
any unit left? I’m looking for the smallest studio? price?
Actually, smallest unit 455sq feet were sold out during preview before CNY.
But recently, I saw 3-4 units released due to loan problem,etc as I was told.
I myself bought one! Depends on level – RM380K to RM400K.
The good news is you still eligible for 3% + 5% discount, so better pay a visit to the sales gallery at Bayan Mutiara tomorrow morning!!
Out of 800 plus units of Block A, B, C & D- there are only 57 units studio 455sqfeet.
455sf…. are those units build for dogs? Anything below 700sf is inhumane!
does anyone mind to share why people buy 455sqf unit? curious…..
@scammer
Please be more civilized coz your words sounds like whoever stays in 450psf units are dogs, even though you might not have meant it.
@homebuyer
My opinion below:
In PG, I think the potential buyers are:
1. Single or married couples with no plan to have children, or independent old couples (children are away)
2. Speculators/investors who hope for big capital gain, rental yield return
3. Super rich people who just buy for whatever potential usages they believe in
In some other cities, property prices are very high. So, the potential buyers include those (relatively) lower income earners who really want to have their own properties, but couldn’t afford to pay.
In this case, #2 (speculators hoping to flip for gain) probably take up a huge chunk of the sales since PG hasn’t reached a state where it is near to impossible to get a decent condo at the same price point for potential buyers in #1. #3 is also unlikely since if there are many other choices.
You miss one more group.
Simply got money, want to buy something , just buy la.
Most already own big condo/ landed property, and
Whether for own stay or turning into mini brothel, etc…..Who Cares?
@Sam
Nope, i didn’t. #3.
But #2 and #3 could be the same group of people. Who knows … at the end, always real buyers suffer.
BLK A still have 455sqft units.. Left 5 of them as of yesterday. Price from 387k..
Pg have not come to a state of shoebox culture.. But I guess these units are perfect for singles professional who loves bayan mutiara area..
Perhaps in 10yrs when housing are expensive, small units (resale or rent) will be popular! Bigger units above 1000sqft for pwc maybe regarded as luxury type units.. Just my thought.
@Sam
Which part of Bayan Mutiara?
still have any left?
Hi dear all owner, im agent here, i have buyer looking to buy with undertable.. please kindly contact me if you serious seller here.. urgent, thanks..
Jason Goh
First Home Sdn Bhd
0124297310
thyeliang@gmail.com
Both my cousins bought 1 unit each here at $700k+. But I don’t understand why they don’t go buy resale at better locations like tanjung tokong for older condos (eg marina bay, tanjung park). Isn’t tanjung tokong a better location? Or is it the dibs is the key thing drawing buyers? ?
Low entry is the answer
Hi Jen,
i think it is within their budget. I don’t think they will be able to loan more than 800K.
It is not easy to get 90% loan now a days : ) Usually the banks will give you only 70%
Tg Tokong certainly a better location
@Jason
Jason, if you are an agent and need to come here to look for a seller, then you must have failed on your job pretty badly. I am not an agent, yet i get tons of offer from agent that there is a lot of unit for sales for this project, with a 40k undertable.
Hi Roland,
But places like marina bay, tj park can get below $700k for 1100sf. Some more got seaview whereas the world city they booked is only poolview. So I really scratching my head thinking why they want to book here. No offence to anyone. I’m gathering views before I consider whether to follow them or buy at tj park/marina bay. I know for sure if get marina bay/ tj park, renting out is not a problem.
Low Entry is the answer…
But if majority is buying mainly due to low entry, then this is very speculative in nature. Singapore use to have this kind of developer-absorb-interest during construction phase and one only start paying after completion but the government clamp down and disallowed. Reason is its very high risk and could be detrimental to the market in the event there is a recession when buyers got to start paying. I think I had better stick to tj tokong for the location and at the very least got rental market (or at least its known now). But for those who dare take the risk, good for you. High risk high return. I hope everyone will huat in their investment!!
One way of seeing “low entry” is exactly what you have said. Another is perhaps one’s credibility to get 90% loan is a definite approval but do not have so much cash on hand. In addition, if there is no rush with favor of bayan mutiara as the next best thing, then new property such as pwc is a better choice. Buying sub sale means a solid 10% and other legal expenses. That’s a lot of money. If loan could only be granted at 80%, it is worst.
Buying this condo is not just buying the residentially unit. You are buying the entire master plan which will complete in years to come. Location wise is good, btw 2 bridges, proximity to lots of factories, airport, 15mins to city (depend how you drive) and etc. traffic jams? You should know it is still ok.. But anyway, both location has pros n cons.
I asked myself the same question you’re asking, which one worth it. But my simple preference is this, I prefer new, where I get to choose my units from the charts, deal directly with developer, pay lesser dpymt and still get something which is unknown nor proven in rental yield. Why, because its just my preference for new projects. Feels good to be one of the first to move in or to enter the property upon o.c…
@Jen
By the way, if you could afford it, why not bet on both? It’s just a matter of how much you’ll gain in years to come. Good luck!
@Bryant
Agree … i meet some of the buyer of PWC .. Many is for their own … Work near the area .. Plan for wedding ….
We are buy for location …
@cm
agree… location….
even if work in mainland… no need to worry of the traffic…
Bryant,
I also wish I can buy 2 but I need to pay (30% downpayment x 2) which I definitely don’t have enough. Only got enough bullet to bite 1 unless I sell off 1 property from my current portfolio.
By the way, a friend of mine owns these properties (Sunway Tunas 2ST, Gurney Park and Tanjung Park). He is thinking of selling off one of these to buy World City. I was telling him no need loh since he is getting like 5-7% ROI based on his purchase price for them. In your opinion, will you tell him to sell and switch to World City and if yes, which one to sell off?
Jen,
I am no expert in properties investment. But here are my opinions to your friend.
I assume he is earning 5 to 7% rental each from the three properties he owns.
So I would suggest that he don’t sell. But still go for PWC. But this depends on few factors, 1 – fourth property loan limit, 2 – if loan limit is 55% or 60% margin, then the question is does he has the cash to pay the 40 to 45% for dpymt and progressive pymt? You see, current tropicana bay residence plan is not approved yet.
– Upon booking is 5% dpymt.
– Plan approval towards year end.
– Upon approval, it’ll take 6 to 9 months (June or Aug 2014) for the next progressive pymt (maybe foundation completed) – 10%
– Subsequently another progressive pymt (3 to 6months) – 10% or 15%…
– and etc..
What I am saying is, utilize the time to manage his cash flow.
Please remember, Ivory may choose not to sell in the end since plan is not approved, there is always a chance this might happen. So if he sells off his property for Tropicana Bay Residence, Ivory decided not to sell, then its just not worth it. But of course, he can still go for future launches (Blk E or the front plot of land which Asia Green purchased), or even Victoria bay.
Alternative thoughts, sell of anyone of his property which yields the most profit as of today. Then buy PWC.
Lastly, maybe you can share with him
All the best!
Not to demean Ivory but I have heard 2 of its previous projects changed plan (City Residences and Island Resort) and those early buyers were forced to “upgrade” to bigger units and they held on to stamping the S&P for more than a year. So like you said there could be a chance the plan is not “approved”. Then if my friend sold his unit to switch and this project did not materialise in the end, it might be a waste to have sold off his property. This is something he has to consider. I agree with you that this is buying into the master plan. If the master plan successful, it’ll really huat huat for all those who have bought here.
Truthfully, I am more interested in Victoria Bay. But I don’t know how much it’ll costs. Most likely a bomb knowing Penang property!! Haha…
Between I don’t know if this is their sales tactic or just coincidence, both my cousins were told that their unit is the last unit because previous buyer loan not successful. Each went different time – 1st one about a month ago, 2nd one just last weekend. They managed to get the 1000sf unit about 1xth floor (1 floor different from each other).
Ivory learns a big lesson from Times Square. With Tropicana and Dijaya merging to work together, I hope things will be different! Many eyes on this project. If you are the developer, I bet you would not want to screw up again. Else, Ivory image+Tropicana+Dijaya will be affected big time!
When I first enter the gallery, BLK A and B all booked! Slowly, some units starts to re-appear. So another tactic? haha.. I do not know. It does not matter. All I know is what I want.
Any annoucement for Asia Green purchased the front plot of land (Tropicana Bay residence)?
on Asia Green rumors of buying up the land plot, could it be some blackmail strategy to hinder sales for ivory/dijaya so that buyers would focus on their VB project instead..??
hi…..i bought a unit (455sqf) in bloc A, recently for RM 436k before discount. after discount ard 400plus…..
sometimes i feel am i stupid coz i bought for so expensive d ‘sqfeet’.
i bought for investment purpose…pls advice…
tq
@sheena
After discount 3% and rebate 5% it is around RM401K (RM1135psf) – correct?
Ask yourself, why do you invest in the first place? Does the reason still valid until today?
If not, then you can choose to let go or hold onto it if money is not an issue.
Yes, @ RM400K you could get a bigger unit elsewhere, but if you compare it in extreme manner like a landed in tambun for the same price as a showbox in PWC, which is more worth it? Very subjective I must say. But my personal opinion is Penang is not ready to accept shoebox as we have not come to that stage yet. Unlike Hong Kong…
In addition, your target buyers are limited due to the size and price in the future.
Think about it…
It might expensive now but certainly not expensve 10 yrs down the road. @sheena
@Bryant
how about 615sqft?
@islander_ori
Honestly, better then 455sqft my fren. Couple of factors to consider nowadays even for 455sqft unit:
1) Affordability is reachable among the younger buyers 4yrs down the road if you intend to flip. As you know, 35yrs loan just kick in. 4 yrs later maybe 30yrs loan max.
2) My opinion on what attracts shoebox or small units on the sales or subsales is the population or the loan conditions. With tighter limits, means buyers have to satisfy with smaller units because they cant afford bigger ones. Do you see such trend coming to penang?
As for the population I am uncertain, industry are doing well..yes..if it does congest Penang with more workers then these people must choose to pay RM700K/Rm800K for a waterfront condo or a landed over on the mainland.
3) If owners are not able to sell due to loan restrictions from buyers, then sale goes down but they need a place to stay. It means rental goes up.
4) Last resort which I always tell everyone, just use it for own stay
No matter what, buying a property at good location with DIjaya/Tropicana should not ruin your investment. There maybe downs, but things will pick up. Must have holding power. Its a huge investmen in terms of few hundreds Ks, not few hundred or thousand ringgit. Big investment, big return,big losses too. Huat Ah!!!
@islander_ori
Honestly, better then 455sqft my fren. Couple of factors to consider nowadays even for 455sqft unit:
1) Affordability is reachable among the younger buyers 4yrs down the road if you intend to flip. As you know, 35yrs loan just kick in. 4 yrs later maybe 30yrs loan max.
2) My opinion on what attracts shoebox or small units on the sales or subsales is the population or the loan conditions. With tighter limits, means buyers have to satisfy with smaller units because they cant afford bigger ones. Do you see such trend coming to penang?
As for the population I am uncertain, industry are doing well..yes..if it does congest Penang with more workers then these people must choose to pay RM700K/Rm800K for a waterfront condo or a landed over on the mainland.
3) If owners are not able to sell due to loan restrictions from buyers, then sale goes down but they need a place to stay. It means rental goes up.
4) Last resort which I always tell everyone, just use it for own stay
No matter what, buying a property at good location with DIjaya/Tropicana should not ruin your investment. There maybe downs, but things will pick up. Must have holding power. Its a huge investmen in terms of few hundreds Ks, not few hundred or thousand ringgit. Big investment, big return,big losses too. Huat Ah!!!
i think persqfeet is around 900 @ bryant…..
@Bryant
looks like u must be a good invester…..how manhy houses u f in penang?? how many years u r in this line???
wish to be like u in future…..
Yes, around RM881psf. My bad..
Lets target RM1100psf for subsale? Means ~RM500K @455sqft (discount RM500).
Gross Profit about RM100K, after misc maybe you still have RM80K. Not too bad right?
If sales no good, then rent out. Tahan first. Top up if cannot break even. Treat it as paying a car installement but this installment doen not depreciate.
4yrs later, 500K will seemed affordable to young couple. Yes, they may complaint on the size and so on but like any other project there is always pros and cons. So you get what you pay for. They get what they pay for depending on their affordability.
I am new and still learning. Please share your wisdom as well so that we can learn together.
Hi Sheena,
Yes, around RM881psf. My bad..
Lets target RM1100psf for subsale? Means ~RM500K @455sqft (discount RM500).
Gross Profit about RM100K, after misc maybe you still have RM80K. Not too bad right?
If sales no good, then rent out. Tahan first. Top up if cannot break even. Treat it as paying a car installement but this installment doen not depreciate.
4yrs later, 500K will seemed affordable to young couple. Yes, they may complaint on the size and so on but like any other project there is always pros and cons. So you get what you pay for. They get what they pay for depending on their affordability.
I am new and still learning. Please share your wisdom as well so that we can learn together.
Hi Sheena,
Yes, around RM881psf. My bad..
Lets target RM1100psf for subsale? Means ~RM500K @455sqft (discount RM500).
Gross Profit about RM100K, after misc maybe you still have RM80K. Not too bad right?
If sales no good, then rent out. Tahan first. Top up if cannot break even. Treat it as paying a car installement but this installment doen not depreciate.
I am new and still learning. Please share your wisdom as well so that we can learn together.
Sheena, to add on:
4yrs later, 500K will seemed affordable to young couple. Yes, they may complaint on the size and so on but like any other project there is always pros and cons. So you get what you pay for. They get what they pay for depending on their affordability.
thx…………… @bryant…
Sheena, so you will let go or carry on with your unit?
still with d intention to carry on
Good luck sheena..
PWC is really a good buy??
PSF at RM 800 and above is higher than some of the prime area in Klang Valley.
At this price level with almost nothing thrown in; built-in cabinet, hob, hood, refrigerator, washing machine, etc. Meaning when after vacant possession, there will be endless renovation…..Livable condition could be 5 to 6 years later.
Anyone has statistics on no. of condo units in Penang Island?
Existing 2012 End-2013 (% increase) 2015 (% increase) 2017 (% increase)
XXXXX XXXXX (%) XXXXX (%) XXXXX (% )
@Felicia
but the condos price also incresing like anything in penang island………….. : )
@Felicia
Why are you comparing Penang and Klang?
Compare PWC with HK or SGP…then PWC is sooo cheap…
OK, just joking but seriously penang and klang are not comparable.
Maybe you can tell us which project in Klang you compared with PWC.
At least readers will understand better your meaning..
@Bryant
I am targeting 1300 per sq ft…..
@Dell Executive
What do you mean?
http://penanginstitute.org/v3/files/research_papers/Housing_market_trends_and_affordability.pdf
http://www.globalpropertyguide.com/Asia/malaysia/Price-History
http://www.statistics.gov.my/portal/index.php?option=com_content&id=1215
@Dell Executive
hi, u mean u r targeting d pwc price to be rm1300 psq in future???
then who ever invest there will be d lucky ones ….: )
@HUAT
Why not? Land cost at PWC was purchased at RM 224 PSF, In Klang Valley, most land cost are between RM200 to RM400 excluding greater KL. Material cost, etc are almost the same, disposable income are somewhat different between the two region, population wise are at greater gap. But most condominiums coming to market in Klang Valley are with many extras, etc.
Why compare with HK or Singapore, why not compare with other countries like Australia, UK, India, Pakistan, etc. RM to other currencies, no conversion (I mean do NOT convert to local currency for comparison – In Australia, with salry of AUD 5,000 can get a nice cond at AUD 500,000, In UK, salary 5k pound can get nice condo at 500k, In Malaysia, with salary of RM 5,000, nice condo can easily be RM 700k); absolute value, we might seems to be on high side
@Felicia
So you are talking about buying power..I understand your point. That is why the rich are getting richer and vice versa. Many people work overseas in order to be able to achieve their dream home in penang which you claimed on the high side. But hey, how do you define nice condo? I define a landed seafront bungalow as nice.. But if I cannot afford “nice” then maybe I could get a nice unit else where, which is cheaper but surely not in penang.. Yes, prices in pg on high side.. In fact it’s crazy.. So live with it or move on. Too bad, MYR is weak. We cannot do anything about it, but we can change to earn more for ourselves.
If you like to compare so much, I’d recommend you look into overseas investment. Some condo in Bangkok is 200m away from mrt, comes fully furnish and rental guarantee yield for couple of years, AND its cheaper n bigger! It’s like KL city where demand is strong. You can even consider Makati city in Manila, it’s a CBD area with high rise! Awesome for rental yield and price is like RM300k only for a decent 700sqft condo.
But you see, the vast difference in all these investment is that Penang properties approach are low entry. Overseas are not all low entry. Some you need to pay off the purchase price within 5 or 10yrs.. Mainly because we are foreigners. Please see the advantage perspective of investing a property in penang…not just the buying power…
Back to pwc topic, the same applies, if you have money to dispose to gain long term profit, then good luck. Any investment is a risk. But pwc is not just a condo, it’s more then that…you buy a condo you buy the future plans of pwc. Mind sharing which project in klang offers similar planning and seafront location? If they are good, please share. I’d like a piece of profit from Klang
Felicia,
So you are talking about buying power..I understand your point. That is why the rich are getting richer and vice versa. Many people work overseas in order to be able to achieve their dream home in penang which you claimed on the high side. But hey, how do you define nice condo? I define a landed seafront bungalow as nice.. But if I cannot afford “nice” then maybe I could get a nice unit else where, which is cheaper but surely not in penang.. Yes, prices in pg on high side.. In fact it’s crazy.. So live with it or move on. Too bad, MYR is weak. We cannot do anything about it, but we can change to earn more for ourselves.
If you like to compare so much, I’d recommend you look into overseas investment. Some condo in Bangkok is 200m away from mrt, comes fully furnish and rental guarantee yield for couple of years, AND its cheaper n bigger! It’s like KL city where demand is strong. You can even consider Makati city in Manila, it’s a CBD area with high rise! Awesome for rental yield and price is like RM300k only for a decent 700sqft condo.
But you see, the vast difference in all these investment is that Penang properties approach are low entry. Overseas are not all low entry. Some you need to pay off the purchase price within 5 or 10yrs.. Mainly because we are foreigners. Please see the advantage perspective of investing a property in penang…not just the buying power…
Back to pwc topic, the same applies, if you have money to dispose to gain long term profit, then good luck. Any investment is a risk. But pwc is not just a condo, it’s more then that…you buy a condo you buy the future plans of pwc. Mind sharing which project in klang offers similar planning and seafront location? If they are good, please share. I’d like a piece of profit from Klang
@HUAT
hi mr huat, so …u r saying the PWC is a good investment…. i bought 455sq for rm 400 after discount….from ur comment i think it is worth it…. thk u anyway… i guess u r saying so…..: )
@sheena
It is just my personal opinion but you need to do some homework and assess your investment risk personally based on your commitment, income, location and etc.
If possible and can afford, buy landed properties better than these boxes in the sky
@Dell Executive
RM1300 per sq ft! Penang Island properties are going through the roof. At this level, I will surely buy landed here
Future trend judging from the present security condition in Malaysia
1) Gated & guarded houses – How many can afford?
2) Well-managed Condominium – price getting costlies making affordability a serious issue
3) Condominium of sizes below 1000SF; from 350SF to 750SF, at price of RM 1000 PSF will be popular for single and young family- Affordability
@Felicia
Agree to point (3)… But need some time for people to realize that smaller means more affordable. Currently still a lot of mindset to have big houses because used to it. Lets see what happen 5yrs later. You bought any unit of TBR?
Agree to point (3)… But need some time for people to realize that smaller means more affordable. Currently still a lot of mindset to have big houses because used to it. Lets see what happen 5yrs later. You bought any unit of TBR?
@Bryant
Not only affordability but long term maintenance also an important issue to consider, big size condominium needed higher monthly service charge & sinking fund; can easily be more than RM 10k per annum. Whereas smaller sizes, annual service charge and sinking fund might be cap at RM5k
@Gideon Rajoo
im staying in landed now… so PWC is for investment purpose….cant afford for another landed in penang : (
@sheena
Besides PWC, what are some of the good investment in Penang
@Gideon Rajoo
Any good recommendation??
yes pls share ……………
SNP signing started??
@aah dog
Dun talk like this yet, after 3 years, it will proves who is foolish.
The fact in Penang, at this state, you will find expensive, but after three years, you regret that time for not entering!
true…invest in penang never went wrong. even cowboy town of johor also the pride is quoted at rm1200
@banana
agreeeee!!!
What is the withdrawal rates after recent government interventions by imposing several measures to cool down properties speculation activities??
My experience with the sales with ivory.
First on Tuesday 28/10 the call was transferred to malay salesperson after a few words conversation he ask my phone number and he said going to call back me back 15 minutes later. But he didn’t call at all.
Second in Wed 29/10, I called again & ask the reception to transfer to any chinese salesperson and was answered by chinese lady and after couple of minute chat i ask her to email me the details. But sadly until now (31/10) not yet received that email.
i start to think perhaps the developer just didnt want to sell it to malay or bumiputera in particular.
And my suggestion to them is, to put it on the ad is “Not for sala to Malay”.
rgds
My experience with the sales with ivory.
First on Tuesday 28/10 the call was transferred to malay salesperson after a few words conversation he ask my phone number and he said going to call back me back 15 minutes later. But he didn’t call at all.
Second in Wed 29/10, I called again & ask the reception to transfer to any chinese salesperson and was answered by chinese lady and after couple of minute chat i ask her to email me the details. But sadly until now (31/10) not yet received that email.
i start to think perhaps the developer just didnt want to sell it to malay or bumiputera in particular.
And my suggestion to them is, to put it on the ad is “Not for sale to Malay”.
rgds
@nazza
seriously, this is nothing to do with races, Ivory’s phone support has been bad!
If you are really interested, walk straight into the sales office, this will be the fastest and effective option.
@nazza
Shouldn’t be, all developer must reserve certain % for bumiputra and they will have a lots of additional work if this can’t be sell off.
Better walk in their sales office in Bayan Mutiara there..
but their sales person.. hmm.. I think act like tak peduli to all people , unless u really looks rich or wear smart then will have different treatment.
what is the price / sqf now?
I have 615sqf to let go. Block C 16 floor, no afternoon sun
Just want to get back 5k booking fees, anyone interested,
please email me at mycherrytrading@hotmail.com
YL, how much ur unt price?
if you are interested kindly email me @ ooichihhua@hotmail.com
anyone can comment on penang population. is it increasing at a healthy rate. or slow, or fast
Anybody can let me know when can we get the OC for this project. My SnP date is on 27/9/2013. Is it overdue or need to wait until Sept 2017??
1,020sqf to let go. Anyone?
I got a 1020sqft unit. Let me know if anyone interested. Cheers.
Reason to let go, which block and how much @JoeX
I want to buy nice unit la please call me at
012-6606880
0103838666
Hi I have one unit 550 psf(F block)to let go,if you are interested pls contact me at
ann.indahtool@gmail.com.Direct Owner
my chinese friend that time using RMB 2.2 Million changing 1 Million RM to buy 1320SQFT now
RM 800K x1.68=RMB 1.35 Million can buy 1320SQFT some more she brought 2 set in this project 槟城好地方 潜力巨大 good luck 加油