price? size?

Land Area is 20′ x 80′ for Type A whereas Type B the land area is 20′ x 101′ . The above info need to amend. The price range are from RM1,618,000 to RM3,388,000 (Corner Unit).
Thank you.

teres start from 1.6mil, total built-up ~2900sf.

I am fully convince now Penang island has the most expensive teres in the nation.

1. Any promotion for early bird? (e.g. S&P, stamp duty, interest free, discount>
2. Is this a new developer? Any past record of this developer?
3. Any comments on the area/location?

Where exactly is the location?
Is it near Batu Lanchang Market?

find the place @
http://wikimapia.org/#lat=5.3853381&lon=100.3069489&z=18&l=0&m=b

There are 3 phases in total. It is interesting to see new property being launched nowadays. The price keep rising and beating new high. Just like breaking new records in olympics.

nice! jz wondering how ppl can get 3.3milion of bank loan….mthly installment =?

@Teoh
3.3M for 30 years with current interest monthly repayment should be 14- 15K

Called up the office. >1.6m for the smallest 20×69 land area. >1.9m for 20×80. Corner units go for more than 2.2m. Penang landed properties are built with gold bricks.

@Common
yeap! gold bricks!!!. green light from penang gomen?

unless you strike lottery or sports toto jackpot, difficult to convince bank to extend loan for 3.3M

RM3.3 Million easily can get bunglow why buy terres house.
This was all due to greedy developer. We shouldn’t support this.

@penn
15k per mth means the mimimun basic salary=?
wat type of job got such $, really 1 2 change job. :p

Location vr good, but too expensive for me…perhaps ULTRA expensive for me d…

@Teoh
Senior Manager already got this salary liao la… Businessman income more than this of coz, just those normal employees cannot afford only, pity those working people… Even char kuey teow auntie can afford to buy, shame on those white and blue collar worker…

RM15K/month x 30 years = 5.4 million, even though can afford, better alternative, get a bungalow in mainland or other place for 1-2 million and keep the rest on the money in bank to earn interest…

If monthly repayment is 15K your income must have net 45K after deduct EPF and income tax. In the market Senior manager also cannot get this salary. if got also one or two international company. Just imagine in one company can have how many senior manager?
Those people can afford to buy all is speculator. They already earn in the begining .

@SST
Looking at the current trend, the bungalow must be RM4million and above.

Aizen
In the subsale market want to sell a unit of 800k house also so susah don’t talk about Million Million dollar house.
Bungalow house 2 to 3 million also got lah but very difficult to sell it took years to get a buyer.
The reason of developer can sell is the interest free scheme. The speculator hope that after 3 years the house ready can get profit (hopefuly the market not runtuh loh)

They are building it to sell to foreigner also dun forget, with their currency, that house is cheap. Even china developer give Malaysia property to anyone who purchase their project in china. So the demand is high.

Hopefuly got foreigner will buy from them lah.

Now economy in US Europe even China all face problem

One day the supply will be more than demand by the time price will drop.
Europe house now drop more than 50% previously Eur400,000 condo in Europe now
Eur200,000 also nobody want.

penang and BM bubble far from bursting due to foreign investors…

Foreign buyers at that location? I seriously doubt. Unless the foreigners like to walk to Batu Lanchang market.

what i meant was foreign buyers will create a false demand and rising the price of houses in Penang

SST, i think you are mixing with the wrong crowd. An MD in a MNC is already having a basic of rm25-rm30k salary per month. We are not even talking about VP etc. anyway, don’t just look at the basic pay, look at the overall package, stock, profit sharing, bonuses etc etc, which easily translates to rm40k-rm50k per month for them.

And yet we are talking about employee. What about those business people in Penang? They are earning much much more than that. I have a friend who just sold one apartment recently for rm1.55m to one of the mnc executive. The whole sales and negotiation just took 6 hours, and deposit being paid.

@Jtk
You are right, SST was not expose to those kind of people so he assuming all are low paid worker. I had a friend sold his apartment 1.8millions but the property negotiator able to mark up the price till 2millions and the buyer buy it and straight give deposit in just 1 hour. Only those cannot afford will say it expensive.

I agree with SST.

Wht JTK mentioned make sense. You will see market transaction in every price segment.
Even 10million house also can be sold and transacted.
Wht SST (i think) is pointing out is that AVERAGE crowd or normal transaction in the market.

However, your example that MNC executive buying 1.5Million, how often this happens?
Compare to RM500K or RM700K, how often this transaction happens?
If you can think along this line, you will see the point.

Also, how many MDs in penang that earn RM20 – RM50K a month?
And out of this group, how many will be the potential customer to this type of house?

Yes PgPPL you get my point.

Base on lcoation Batu Lanchang cannot attahed foreigneer.
Foreigneer will rather choose the light water villa rather than Batu Lanchang Market.

nd4spd2 maybe all your friend and group are the upper rank of people. They are able to goreng the market .

I got a friend he just refinancing his terrace house mark up 20% of market price. That means the transaction is done. This will create false market price to the investor

Got a lot or subsale property got price no market. One of my agent’s friend said everybody keep look at the property but to get one transaction done is so difficult. This is our present market situation

People said less risk less returns.

High risk high returns with high probability end up bankruptcy.

Low investment value usually has huge market.
High investment value usually has very small market.

High end property worth millions ringgit has potential buyers but very small group of people.

SST, only certain location difficult to find buyer. But almost all area, there are potential buy and transaction did happen. Stop giving false excuses , and face reality.

The market price now control by investors and developers. Is not represent the real value of the property price. Investors just come in and flip the market, they come in with Singapore, Aussie or US dollars, not much problems for them. But for local people, is very bad. Many developers built 2.5 or 3 storeys house,why? to mark up to million dollars so can sell to foreigners.

How many % of potential buyer we had?

This is not excuses. This is the actual situation. For Those who are able to believe just
take it for consideration

For those cannot take it just dream at their own dream loh.

I think current property trend is very good for the local. If price continue to grow steadily, everyone will makes $$.

Though expensive it’s not that only foreigners will have the purchasing
power or financial capability to buy. Most of the buyers at D’Residence
in Bayan Mutiara are local.

Yes, agree. We should use current property market to make as much as we could. Someday, bubble will come. But who cares? Why keep complaining about current situation and keep expecting the worst?

@VanPersie
I think the rich people only benefit from overprice houses. Not to the average ordinary people

I agree with SST. I’ve got a few friend who works as a property agent and according to them for a subsale unit at E&O, they find it very slow/hard to sell it off with an average price of RM1000/persqft. Only those property with a strategic location are still selling very good but it will eventually cool down. In other areas the market is very slow, and you can see the effect during The Star property fair where all the big players from Klang Valley bring their projects here to share with penangites. If the economy is so good as claimed by JTK, why do they have to showcase their project here when they can sell it to Klang Valley without reachin here. Also, the vacancy rate @ KL City Centre it is estimated at 17% which is consider very high. Everyone is feeling the pinch rite now and we should be more cautious with what we spent nowadays. Just my 2cents thought, take it or leave it.

@aizen
Not only rich will benefit. Find some sub sale 700sft, 200-300k to invest.

Burst! Burst! Burst! hahaha..

@Soulheal3r
The reaoson KL property come here to promote in Penang is because, Penang property prices, has gone up, exceeding KL price in some area. so it makes KL property prices appear to be cheaper. So these developer can easily find buyer from Penang market. Same to Singapore developer who promote their property during the fair.
Actually what happening in KL now, is due to oversupply of service residence in some area, like the Mont Kiara, Jln Ampang, Bkt Ceylon…these area. That is what you see in the star property fair.

Of course we knew that economy now is not getting any better. But so far, property appear to be a save haven for investor as long as you have enough holding power. The only thing bubble could happen if the central bank increase the OPR overnight or imply some rules, like what the China gov did recently.

Other than that, demand /supply, will not bring down the market.

Previously I am the property agent. My experience is everybody keep on calling and look for property. But after see the house no news even call and follow up no reply some even not answer to your call.
Today maket problem is developer sells easy, subsales difficult. For those who want to go for investment must have holding power if not one day will get burnt.
For those who got million millon dollar’s people will buy from developer not subsales unit

Agreed with you, but what im trying to convey here is that the price will eventually cool down. Dont you think that the property built in Penang is already surplus with so many upcoming projects. Bubble is no where to be seen cause most of Malaysian is cash rich and i believe they have the holding power.

This situation will benefit the developer and the speculator later will get burnt .

Penang property for investment look for unit below 500K offcouse for own stay you can buy any price any where which you like

But for Ghee Hiang Terrace 1.6 Million in Batu lanchang is over value.

@Soulheal3r
Yes, i agree already surplus now. Also agree that market seems a little cool down in the subsale market but it is far from alarming. Thats why I always advice my friend and relative around me, to invest one by his/her budget.

@Funny
if it is over value, how will someone get the bank loan? 20X82 , 3 storey, a flat land among residential area. I think this is not reasonable, but acceptable price at this moment, at least for those 27 potential buyer.

If Singapore can have property burst, let alone Penang. Is all depends on the goverment now. i heard they are going to introduce MOP(minimun occupation period) for ppl who purchase 2nd or 3 rd properties onwards or foreigner. within this period they cannot sell (eg for 3,5 or 7 years). I believe they will implement some cooling measures for this upcoming budjet. Singapore gov already increase the stamp duty and other measures, I believe our goverment will follow soon. The bottom line, no government can survive if they let the property prices uncheck.

And i notice many developer lauching their projects for the pass few weeks, i guess they know better, sell before upcoming budjet. chinese 7th month coming, then budget..they need to sell now.

@VanPersie
You know how the market price is established . Nobody can juide the market price until got transaction done. The valuer will judge the market price base on last transaction done The developer can just sell one unit to themselve for one transaction done then that is the market price .

Anyhow good luck for this 27 potentional buyer.

Base on my experience Batu lanchang is not a good price.

Further more the project is small and the developer name not even seen before.

Let put it this way. The developer Ghee Hiang owns the land. Very limited units of 27 only. Thus, the developers’ total cost is very little. They can jack up the price and wait for buyers. No hurry. Just like BSG. Buyers for this project will be either own stay and wanted the location badly or those with too much money, dunno where to put. Just buy and keep.

@Funny
No body can judge, then why you said its over value? Valuer does not value one place base on last transaction only, but also surrounding area. Then you think this price should @ what price?

@VanPersie

Different people got different judgement. To me it is overvalue. To you it is reasonable.
If it is and the price you feel is comfortable just grap it and I wish you good luck.

@Funny
for you what price is comfortable? Just out of my curiousity..no offence

I think it will be a nice buy if it’s <1.4mil? Kinda like the place with small pockets of greenery…

some people got no brain between their ears … simply buy at whatever outrageous price those greedy developers ask … pity these stupid ignorant fools
mm2h foreigners and tourists especially japanese are much smarter … ha ha

Haha @Ishihara,

It will be easy to response to your no brainer…

You’ve got a problem if we have plenty of cash to indulge in our hobby? If you could not afford to buy/or aka means you have no money.. The least you could do is to at least be more receptive and polite to others ppl comments.. Understand?

Yeah, please ignore these ppl and concentrate in discussing on this project. They just hope that the property price go their way but it just couldn’t, so they keep saying about crazy price and stupid buyer.

this is what you call ‘No Money No Talk’…

if you want to get a nice, try Kulim where you can get a big house without spending a fortune… as well as reduce the population in the already crowded penang…

– real rich fellows (multi-multi millionaires) want more classy place & bungalow.
– MNC executives prefer Gated & Guarded project of Soutbay, Setia Pearl Island, The Light, & Sg Ara.
– Hawkers & small-business men near Batu Lanchang not likely have RM15k income per month. RM15k/30days = RM500 per day. Let say the NET profit is 50% per plate of RM4 char-koayteoh/hockien mee/Jawa mee/etc. Hawkers have to continuously sell 1 plate every 3 minutes for 12 hours per day, 30 days non-stop to get RM15k monthly income.
– Foreigners will not buy there.
– So the project is mainly targeting those middle-man business like direct sales and property agents (They just need to sell 2x RM500k house per month to earn RM20K). But just wonder banks willing to loan such amount to them…hahaha..

I tot char koay teoh profit is 80%. No?

Char Kota toes people how to get bank loan I don’t think they declare
their income 100% in ea. Further more to loan 1.6 million
monthly repayment need 7k to 8k that means they had to declare 24k
income per month.
In this case we just watch whom will buy.

The developer is unknown . To buy a property the developer background is important.
Small developer small project this type of location the value is only 1 million. 1.2 million another 3 years after complete

My god…still got ppl dreaming of 1M landed..and 1.2m 3 years later..hahaha…
Jelutong areas, new project all selling 1.2m above now, greenlane very old 1storey selling 700~800k. This type of location? Ghee hiang garden 1 storey selling 800k, 1.5 storey selling 1.3m now. I do not know why got ppl keep calculating others income, and keep convincing themself that no one will buy it. no offence, but really, you guys need to change your mindset and not keep blaming and complaining.

@Coco
Hahaha, we just who will be the targeted buyers for this project. Seems like mostly targeting property agents lah.
Sometime property market also like stock market…when you see everyone rushing for it, may be it is time to get out..recent month so many projects rushing to launch, something is already going on…if not developer can hold the land longer for more price appreciation.

I agree with ZC .Developer also play a role for the house price. We must buy property with
the developer which we wellknown. This type of market A, B and C also want to become
developer so that can get huge sum of money.
If market downturn the developer stop the project who is suffering?
Coco seem like you are targeting on this project. You are the property agent ah?

@Coco
Not dream it is true. Plenty of landed property below 1 million in Peneng. SP setia 3 storey terrace only 800K+
Batu maung Bien Venue also selling around 800K. white lily in glugor also around 900+
somemore 0ne residence in sungai ara.

ready house no risk. don’t need to wait 3 years, don’t need to scare developer run away.

Shouldn’t support this type of developer.

I agree that ready house has no risk but if you like to stay near to
Georgetown, this area is anytime better than Island Glade & Island
Park. Sometime you have to pay extra for a better location nearer to
town.

@As For Me
Yes, agree with you. sure ready house no risk, but your neigbourhood and surrounding is all old design houses even you spend some money to convert to 2 storey or reno. Depend on individual.
Dear sst, of course, batu maung, sg ara area, landed has gone up a lot, but hasnt really catch up with the price of landed near to georgetown yet. Landed in georgetown is very limited and therefore, price is higher.

@kolar
This project only 27 units not a big project. location wise Batu Lancang not a good place.

We can go for white lily or SP setia Reason is:-
1)New house
2)Neighbourhood also new
3)Big project
4)cheaper price.
5)No risk.

Hey sst, i agree if you are trying to say this project is overpriced, but location wise batu lanchang is definitely more strategic than sg ara/batu maung/or your white lily.

Yes. Everyone knows batu lanchang is better place. Sst, unless you work in factory or student than that area I better for you

Yes, batu lanchang is better place for sales people, cause a lot of cash rich hawkers/elder/senior citizen stay around there who need their service most. The Southern region is for younger generation which is new township with modern facilities & more organize in roads & infrastructure.

Batu lanchang majority is hawker people. Just wonder how many hawker people can effort this million property. Just like what sst mention they don’t have ea how to get loan.
Hawker people can count better cos their money is hard earn money.

anyway, 27 unit already sold out. KKK Zc sst, you can continue to talk..

Haha, that’s the point… While i doubt it’s been fully sold out, it will still sold out end of the day. That’s the beauty isn’t it?

I do 100% believe, like many other project there will definately be some units being kept for own investment or for sub-sale market.

Anyway, still think the location is superb… Just the price a little steep…

Congradulation! I think the developer sold wrong price
. They should sell at 2 million.

Must be sold to all the agent and developer themselves.
Coco you get the news so fast you must be one of the developer staff or developer agent

yeah….price is little expensive but if sell below 1.3m sure finish within second. 😉 location wise really superb!! greenlane 88 new project leasehold also snubbed before launching

@Funny
haih…..i really dont like to talk anymore. you think what you like la. bye

Wo! Sold out Liao like selling kuih and kacang Putih

Faster then selling kacang Putih . I also want to become sell agent and developer.

New 3sty Super Terrace House (Greenlane) :

-Total 44 unit Terrace House
-Land Area 20′ x 80′ @ 1600sf
-Built up 20’x50’x 3 @ 2791sf
-4 extra bedrooms + 1 guest room
-All Bedrooms with walk-in closets and hv attached bathrooms
-Study room attached to master bedroom can be converted to family area
-Bedroom on first floor opens to a large covered and open balcony to enjoy the vistas
-Void on the 1 st floor with very high ceiling enhances the coolness of the home
-Extra large porch / driveway and backyard

SALE 1.338 Mil onward

For more detail email me ur contact to : moh_loon@hotmail.com. will get back with u asap, TQ

@New Greenlane
leasehold or freehold?

Even with money, you still need to submit 10% cheque to draw lots. No guarantee you can get a unit. Amazing.

The area is definitely good cause its in Georgetown thus near to every corner of PG, but the price a bit steep, wonder will it sell well?

I don’t think it’s too exp, if you look at the prices yes it’s almost RM2M, but they offer a built up area of more than 4500sqf! For a terrace.

We can’t compare SP Setia, One Residence with this project, the location is different. The accessibility of the area is important when one consider the value of a property. Even SP Setia at sungai ara now is more than a million.

Remember the project is on a flat land, not hilly area, or any grave yard.

That location is in the middle of cramped and overwhelmed old housing with plenty of 2nd hand cars shops. Car are parked every where along the roads. You dont even have an easy and unblocked access road to your so called high end living home. Out of no where, they squeece in 2 rows of terrace houses and claim luxury, high end, prime, style, etc etc so that can sell to you exorbitant price. Hahaha….

You paid so much money to get into this sort of neighbourhood. What a joke
I travel to Bayan Lepas every morning, and the cars from that area always stucked as the heavy traffic wont permit them to enter the main road.
Some more, that area is much lower than the main road. From Feng Shui perspective, it is very bad. I dont even want to elaborate on that part because it is really that bad until could be offensive to the already purchasers. Good luck.

With more than RM1million, you have plenty of options/choices.
True, i definitely could not afford. It is out of my budget but i really hope those who can afford, think carefully.

Today is the draw lot day…. Sold out?

no more draw lot just go pay n choose

Any idea how’s the sales, don’t see much advertisement by the developer, but went to see the actual site, constructions has started.

Guys is this project sold-out already?? don’t see any advertisement from the developer!

@Khor

left bumi lot but have not release yet. if interested pls call 04-659 3659 to register for bumi lot. tq

Thanks @Janelle

the bricks are the same like other states, it is built on gold land. 😛

Common :Called up the office. >1.6m for the smallest 20×69 land area. >1.9m for 20×80. Corner units go for more than 2.2m. Penang landed properties are built with gold bricks.

Any unit still left for this property n do the developer offer any promotion???

@hehe
Agree with you, because +/- 2.0mil is equivalent to sell off all my parents + my own zero debts properties only able to get one unit so call 1.6mil terrace landed, what for?? I rather get one unit with 900k landed new house at sg. ara + RM 200k renovation and furnished, the rest $$ keep in bank earn interest even better, on the other hand also got moderate income 3-4k, is enough right?

@Anson Lim Sungai Ara got 900K for built up 4000 plus sqf??

@Khor
To be advice… hehe

The developer has surely priced this project way out of whack, based on the not-so-prime location. But the question is this……”is the developer not afraid of not being able to sell it in the market?” The answer is, yes they don’t bother. Why? Cos this is a very small project with 27 units only. Points to take note :- (1) land cost – almost zero, this is a piece of land left over from previous ghee hiang development donkey years ago (2) cost of building 1 terrace house is only about ~350k (3) With so many relatives amongst the ghee hiang clan, i bet they are fighting each other to get their hands on some units, at “developer price”.

So this is what they did. (1) Cost of project : 27 x 350k = 9.45mil. (2) Get 9 “investors” (relatives) to fund at 1.05mil each. (3) 27 units with 9 investors meaning each investor will get 3 units. By now, the project is already FULLY SOLD!! (that explains why no advertisement is needed) RM1.05 mil for 3 units with RRP RM1.69mil each!!! So the “investors” can take their own sweet time to sell, can’t get buyer also never mind, can keep for their children…..:)

This is not a commercial project, it’s a family boutique project. Only fools would pay them RM1.69mil…:)

Are you one of the disgruntled member of Ghee Hiang who was excluded from the “9 Members”?

Whether the land has a cost to them or not does not concern affect the price. Why shouldn’t they incorporate the land cost even though there no cost to them? Maybe Boon Siew Group houses are all overpriced also cause their land cost nothing to them.

Hopefully you are not in actg profession if not I pity your company.

Went pass the location n saw this property, now discussing with wife cause its a little over my budget. But we really love the location and size of it. The type B is really long with almost 100sqf. And the build up of 4000 plus sqf impress me

@HC Ong
Wow terrace with 4000sqf! Anyone know still available and when will be completed?? looking for a new property.

HC Ong.. I will keep you up to date on the project build progress as the project is right in front of my house. They are building in progress and every morning when I am out from my house to work I able to see it, some more very clear and near! haha ^^

Anson :
HC Ong.. I will keep you up to date on the project build progress as the project is right in front of my house. They are building in progress and every morning when I am out from my house to work I able to see it, some more very clear and near! haha ^^

So…. what’s the progress today, Anson….

Anson :
HC Ong.. I will keep you up to date on the project build progress as the project is right in front of my house. They are building in progress and every morning when I am out from my house to work I able to see it, some more very clear and near! haha ^^

Yup what’s the progress like?

@HC Ong
The progress super slow.. like never ending build. you gotta be patience. lol

Anson :
@HC Ong
The progress super slow.. like never ending build. you gotta be patience. lol

Yea wen to see the site slow already, last time i did ask them when can complete, they did say Jul/Aug? I doubt it may be completed by then.

Progress has improved, the first row is now at plastering stage, the row behind still slow though. Lets see when they can complete it. Observe that they have also started to demolish the old houses for their phase 2 of another 20 units or so. I think they have sold out the first phase.

The price looks cheap now with its location and size….even Sg Ara area the latest launch TST with condo facilities is RM1.5 mil…..However, phase 2 will be more expensive….then again…property investment in the long run will be a good hedge against inflation……preserve wealth…

I think their phase 2 is RM1.9m same price I suppose, but built up I’m not sure

Soon…. penang island triple storey terrace will hit the historic milestone RM2.0 mil….. surely will be this year…..

Li ka shing just adviced that affordable buy for stay n dun tink of goreng….

Almost RM2m how to goreng, i think those who buy r mainly to stay. They might want to consider bcos of the size of this TST

@HC Ong
If can afford I think better do not hesitate anymore, just buy TST will be around RM2.5 mil end of next year…..just imagine 2011…TST were selling at 900k and everyone already screaming ‘Expensive’ ‘Expensive’ ‘Cannot go up anymore’….so those who bought then must be really laughing now….they have so much margin of gain……so if you hesitate (I assume you can afford)….. then watch this opportunity slip through your fingers…..

@Toby Lim

Yup I’m interested but their 27 Green Terrace already sold out, need to wait for phase 2, further I’m going to commit for RM2m purchase without seeing the show house which is still not ready, or should I say take ages for them to complete.

The million dollar house is now progressing fast its going to be ready soon, installation of window is in progress already. Lets see when it will be ready for preview.

HC Ong :
The million dollar house is now progressing fast its going to be ready soon, installation of window is in progress already. Lets see when it will be ready for preview.

Anymore units left?? when is the expected completion looking for something to be completed withing this year

@Ryan Ong

Are you staying in a house facing T-junction now ?

@Ryan Ong
But translating to today’s situation practically tjunction is still not desirable due to on coming traffic shining lights into the house causing unwelcome intrusion/annoyance. Who can guarantee in today’s modern technology that brakes will not fail so cars ramming into houses at t junction. are still a very real threat.

Went to see this one, the show house take forever to build!

This could be PG first housing project on build then sell concept BTS

Guys can anyone enlighten me what can a developer gain under the Build Then Sell System, cause this developer is going for it, just curious. Cause I can’t see the logic why should they when selling first is better

I only know that if BTS good for purchaser as what u see is what u get

Not bad from the video of the show house.
https://www.youtube.com/watch?v=yxlInLcOT0U&feature=player_embedded
I think the Type B RM2m pun sudah habis that one bigger built-up about 4,000 sqf
Left the Type A i think now RM2m already.

Got phase 2 coming up next 23 more units, 10 more semi D no hurry

Useless developer. Cannot be trusted. Avoid at all cost

This Developer houses all leaking wan, useless.

Maybe the developer got leaking issue everyday wet his pants so he sell house must also leak. Six Eleven is a leaky company

Hi is there any unit left?