Penang World City

November 12th, 2011 Leave a comment

penang-worldcity

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

 

Categories: Bayan Mutiara Tags:
  1. SSL
    February 6th, 2013 at 08:36 | #1

    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.

  2. JackPg
    February 6th, 2013 at 08:38 | #2

    If all the buyers stand united, the developer will back down by giving more flexibility to buyers.

  3. Mad
    February 6th, 2013 at 09:15 | #3

    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…

  4. Bryan
    February 6th, 2013 at 10:10 | #4

    topenang :
    I also cannot see much difference between Platino Vs Bayswater .
    That is why i said penang property is towards perceptions. if more ppl think is better deal, then it will appreciate. But whether it can sustain or not, that is another question.
    Few years back when agent recommended me to buy Seri Tg Pinang 3ST at RM1 Mil, i said ” are you crazy RM1 mil for terrace with small car porch ” ? At that time you can buy a semi D at Tg tokong/Tg Bungah area for the same price or even lower. And now , It reaches RM1.8-2.0Mil……is even higher than old semi d in tg tokong/tg bungah.
    The questions now is whether PWC will appreciate better than gold coast or putra place in terms of % in 3-5 years time ?

    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.

  5. PG Guy
    February 6th, 2013 at 10:34 | #5

    800k can get 1500sft Baystar, guaranteed seafront. Low dense. Walking distance to QBM.

  6. PG Guy
    February 6th, 2013 at 10:36 | #6

    I think Ivory is waiting for people working in Singapore to come back during CNY to help to improve the lackluster sales.

  7. Bryan
    February 6th, 2013 at 10:42 | #7

    PG Guy :
    800k can get 1500sft Baystar, guaranteed seafront. Low dense. Walking distance to QBM.

    Really ar? I though >1M? Smaller unit facing west maybe.

  8. topenang
    February 6th, 2013 at 10:44 | #8

    @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….

  9. PG Guy
    February 6th, 2013 at 10:47 | #9

    @topenang

    Still alot of unoccupied units. Do some bargain hunting instead of using mudah as defactor.

  10. topenang
    February 6th, 2013 at 10:55 | #10

    @ 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.

  11. topenang
    February 6th, 2013 at 13:55 | #11

    @ 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"

  12. Kindly
    February 6th, 2013 at 17:52 | #12

    I hope PWC can be the 2nd STP, or The Light IJM.

  13. Kindly
    February 6th, 2013 at 18:04 | #13

    I hope PWC can b the 2nd STP or The Light IJM.

  14. Bryan
    February 6th, 2013 at 21:03 | #14

    topenang :
    @ 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”

    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.

  15. hello
    February 6th, 2013 at 23:17 | #15

    Bryan :

    topenang :
    @ 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”

    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

  16. Kent
    February 7th, 2013 at 00:40 | #16

    Do u all fun think that is a good investment?Only pay 7.5% n will get a good return?

  17. islander
    February 7th, 2013 at 07:39 | #17

    anyone bought 1000sqft unit? how much is it?

  18. JackPg
    February 7th, 2013 at 07:52 | #18

    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.

  19. GreenB
    February 7th, 2013 at 08:37 | #19

    I lost track of this thread, not sure if we still in PWC or other properties in Penang..

  20. Barisucks
    February 7th, 2013 at 18:27 | #20

    i heard the open a show house/office opposite the site (near queensbay), anyone went to check?

  21. Maryl
    February 7th, 2013 at 20:38 | #21

    topenang :
    @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….

    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.

  22. Bryan
    February 7th, 2013 at 21:32 | #22

    hello :

    Bryan :

    topenang :
    @ 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”

    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

    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.

  23. topenang
    February 7th, 2013 at 22:32 | #23

    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. .

  24. F10
    February 8th, 2013 at 09:50 | #24

    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.

  25. islander
    February 8th, 2013 at 10:49 | #25

    F10 :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.

  26. Raymond Yap
    Raymond Yap
    February 8th, 2013 at 11:00 | #26

    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.

  27. Mad
    February 8th, 2013 at 11:51 | #27

    @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..

  28. Raymond Yap
    Raymond Yap
    February 8th, 2013 at 12:34 | #28

    Mad :
    @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??

  29. Tehcb
    February 8th, 2013 at 22:39 | #29

    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.

  30. topenang
    February 8th, 2013 at 22:55 | #30

    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

  31. topenang
    February 8th, 2013 at 23:56 | #31

    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

  32. islander
    February 9th, 2013 at 02:02 | #32

    topenang :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 0.95List price (LP) RM 980,000.00Selling Price less 3% : LP x 0.97 = RM 950,600.00Down 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

    @topenang
    The quoted 1320sf price for which floor?
    3%+5% discount for first few days right? Now they only give 5% discount…..

  33. Penang Homes
    February 9th, 2013 at 07:58 | #33

    Raymond Yap :

    Mad :
    @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??

    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

  34. topenang
    February 9th, 2013 at 09:51 | #34

    @islander

    for very high floor. Above 18 floor

  35. kent
    February 9th, 2013 at 10:17 | #35

    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

  36. wang
    February 9th, 2013 at 10:20 | #36

    Certainly they must be a risk. That is why high risk high gain. But nowaday, no risk also gain@Mad

  37. mr.business
    February 9th, 2013 at 10:46 | #37

    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…

  38. Ken
    February 9th, 2013 at 11:40 | #38

    kms

  39. cbs
    February 9th, 2013 at 12:21 | #39

    @kent
    Summerton is leasehold.

  40. islander
    February 9th, 2013 at 12:38 | #40

    @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.

  41. chin
    February 9th, 2013 at 19:41 | #41

    @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

  42. Kent
    February 9th, 2013 at 19:46 | #42

    @chin
    Agreed with Chin…we are taking high risk despite high price. I just cant understand why some people make such decision.

  43. Kent
    February 9th, 2013 at 19:47 | #43

    Right, it’s leasehold but price reasonable and sustainable. @cbs

  44. mr.business
    February 9th, 2013 at 22:13 | #44

    @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.

  45. mr.business
    February 9th, 2013 at 22:51 | #45

    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?

  46. Pwc
    February 9th, 2013 at 22:52 | #46

    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…..

  47. Ah Dog
    February 10th, 2013 at 13:23 | #47

    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.

  48. Neo
    February 10th, 2013 at 14:50 | #48

    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

  49. Neo
    February 10th, 2013 at 14:51 | #49

    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

  50. Penang Homes
    February 10th, 2013 at 18:02 | #50

    If expensive then dun buy… if cheap buy…. very subjective …. decide… decide… decide

  51. Neo
    February 10th, 2013 at 19:27 | #51

    Yepp, mayb expensive for me. Cheap for others
    :)

  52. smallunitbuyer
    February 10th, 2013 at 20:35 | #52

    wats the price of 600+ sqft in Block C and D?

  53. islander
    February 10th, 2013 at 21:21 | #53

    @smallunitbuyer
    615sgft — 515k~565k

  54. smallunitbuyer
    February 10th, 2013 at 21:41 | #54

    @islander thanks

  55. Jerry
    February 10th, 2013 at 22:29 | #55

    Is my list of panel bankers correct?

    1. Public Bank
    2. UOB
    3. CIMB
    4. Affin Bank
    5. Ambank

  56. Pwc
    February 10th, 2013 at 22:33 | #56

    Which size has more availability currently?

  57. diy
    February 11th, 2013 at 11:56 | #57

    Pls call yourself

  58. JJ
    February 11th, 2013 at 12:30 | #58

    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

  59. JJ
    February 11th, 2013 at 12:31 | #59

    I took photo of the units available but no idea how to load it

  60. oic
    February 11th, 2013 at 18:09 | #60

    @JJ
    can you send to me? quartzcan@gmail.com

  61. islander
    February 11th, 2013 at 18:13 | #61

    @Jerry
    which unit you bought?
    maybank not in the list?

  62. Jerry
    February 11th, 2013 at 19:16 | #62

    Block D high floor 872

  63. Jerry
    February 11th, 2013 at 19:24 | #63

    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?

  64. JJ
    February 11th, 2013 at 20:16 | #64

    Oic

    Sure emailed

  65. PG Guy
    February 11th, 2013 at 20:19 | #65

    JJ :
    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

    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.

  66. PG Guy
    February 11th, 2013 at 20:28 | #66

    mr.business :
    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?

    How much do you think you are able to sell or rent out your GT when complete?

  67. J n J
    February 11th, 2013 at 21:52 | #67

    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

  68. HK
    February 12th, 2013 at 00:57 | #68

    Wats is the price for 1320 ft,block A,D?

  69. fisherMan
    February 12th, 2013 at 03:52 | #69

    HK,
    the price for 1320ft is around 900k.

  70. Penang Homes
    February 12th, 2013 at 06:43 | #70

    fisherMan :
    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!

  71. aah dog
    February 12th, 2013 at 12:48 | #71

    at these price, only fools buy …
    A fool and his money are soon parted

  72. HK
    February 12th, 2013 at 14:12 | #72

    Thanks,fisherMan

  73. Penang Homes
    February 12th, 2013 at 14:32 | #73

    aah dog :
    at these price, only fools buy …
    A fool and his money are soon parted

    Only fools will keep their money in the bank these days!!!!

  74. Telescope
    February 12th, 2013 at 15:00 | #74

    @Penang Homes
    What he mean’t was “only fools buy …” this property, you still have other
    property to buy definitely not this one.

  75. Penang Homes
    February 12th, 2013 at 17:59 | #75

    Telescope :
    @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

  76. Penang Homes
    February 12th, 2013 at 18:00 | #76

    Telescope :
    @Penang Homes
    What he mean’t was “only fools buy …” this property, you still have other
    property to buy definitely not this one.

    Also… do try to invest in island properties instead of mainland

  77. topenang
    February 12th, 2013 at 18:43 | #77

    @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 ? ….

  78. Jerry
    February 12th, 2013 at 21:48 | #78

    Can they do away the bus station? Raather odd to have bus station in this small piece of land.

  79. JR justice
    February 12th, 2013 at 22:11 | #79

    greedy & unscrupulous developers who involve in price manipulations & unethical business practices should be arrested n jailed …

  80. LY
    February 12th, 2013 at 23:20 | #80

    @Jerry

    For the convenient of the residents and reduce traffic congestion in this area. Bus station is a good thing don’t you think?

  81. islander
    February 13th, 2013 at 08:02 | #81

    @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….

  82. Cash
    February 13th, 2013 at 09:38 | #82

    Penang Homes :

    aah dog :at these price, only fools buy …A fool and his money are soon parted

    Only fools will keep their money in the bank these days!!!!

    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 !

  83. F10
    February 13th, 2013 at 09:56 | #83

    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?

  84. Oppa gangnam style
    February 13th, 2013 at 10:15 | #84

    topenang :
    @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 ? ….

    got also don’t want to tell you lah…buy himself first, then only tell you years later :)

  85. PG Guy
    February 13th, 2013 at 11:21 | #85

    @F10

    Good that so many rich people invested in Penang properties. Guess the price will be going up again this year.

  86. PG Guy
    February 13th, 2013 at 11:34 | #86

    @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.

  87. Raymond Yap
    Raymond Yap
    February 13th, 2013 at 11:36 | #87

    PG Guy :
    @F10
    Good that so many rich people invested in Penang properties. Guess the price will be going up again this year.

    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.

  88. zonefinder
    February 13th, 2013 at 12:01 | #88

    @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.

  89. zonefinder
    February 13th, 2013 at 12:05 | #89

    @Cash
    Well you are “half right”. Cash may still be king but question is how much cash?

  90. lluna
    February 13th, 2013 at 12:50 | #90

    @JJ
    Can you email the photo to me as well?
    Thanks ya!

  91. lluna
    February 13th, 2013 at 12:54 | #91

    @lluna
    my email llunaseaz@gmail.com

  92. PG Guy
    February 13th, 2013 at 13:18 | #92

    @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.

  93. PG Guy
    February 13th, 2013 at 13:26 | #93

    @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.

  94. topenang
    February 13th, 2013 at 14:51 | #94

    @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.

  95. test
    February 13th, 2013 at 15:57 | #95

    topenang :
    @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

  96. Cash
    February 13th, 2013 at 16:06 | #96

    zonefinder :@Cash Well you are “half right”. Cash may still be king but question is how much cash?

    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…

  97. zonefinder
    February 13th, 2013 at 16:36 | #97

    @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…

  98. Oppa gangnam style
    February 13th, 2013 at 17:12 | #98

    there won’t be a correction, there will only get a flattening, and then you see your money shrinking lo

  99. Penang Homes
    February 13th, 2013 at 17:29 | #99

    Cash :

    zonefinder :@Cash Well you are “half right”. Cash may still be king but question is how much cash?

    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…

    In long term…cash loses…. history has proven it over and over again…..$$ shrinking by the second…..be wise and invest…. but invest wisely…..

  100. Penang Homes
    February 14th, 2013 at 03:15 | #100

    JR justice :
    greedy & unscrupulous developers who involve in price manipulations & unethical business practices should be arrested n jailed …

    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

  101. Cash
    February 14th, 2013 at 08:49 | #101

    @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.

  102. Bryan
    February 14th, 2013 at 09:21 | #102

    @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?

  103. test
    February 14th, 2013 at 09:51 | #103

    Bryan :
    @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

  104. JJ
    February 14th, 2013 at 10:00 | #104

    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

  105. Penang Homes
    February 14th, 2013 at 10:20 | #105

    Cash :
    @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.

    It will never be enough no matter how much humans have…..

  106. PG Guy
    February 14th, 2013 at 10:47 | #106

    @JJ

    where got argue? they are just sharing perspective. good for novice property buyers.

  107. alfred
    April 5th, 2013 at 23:16 | #107

    any unit left? I’m looking for the smallest studio? price?

  108. Sam
    April 6th, 2013 at 00:39 | #108

    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.

  109. scammer
    April 6th, 2013 at 03:33 | #109

    455sf…. are those units build for dogs? Anything below 700sf is inhumane!

  110. homebuyer
    April 6th, 2013 at 05:18 | #110

    does anyone mind to share why people buy 455sqf unit? curious…..

  111. owner
    April 6th, 2013 at 06:24 | #111

    @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.

  112. Sam
    April 6th, 2013 at 08:36 | #112

    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?

  113. owner
    April 6th, 2013 at 09:10 | #113

    @Sam
    Nope, i didn’t. #3.

  114. owner
    April 6th, 2013 at 09:12 | #114

    But #2 and #3 could be the same group of people. Who knows … at the end, always real buyers suffer.

  115. Bryant
    April 6th, 2013 at 11:58 | #115

    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.

  116. Sky
    April 10th, 2013 at 17:38 | #116

    @Sam

    Which part of Bayan Mutiara?

  117. ZT
    April 22nd, 2013 at 15:54 | #117

    still have any left?

  118. Jason
    May 29th, 2013 at 14:36 | #118

    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

  119. Jen
    June 2nd, 2013 at 19:53 | #119

    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? ?

  120. Bryant
    June 2nd, 2013 at 20:45 | #120

    Low entry is the answer :)

  121. Roland
    June 2nd, 2013 at 23:39 | #121

    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

  122. PPP
    June 3rd, 2013 at 00:51 | #122

    @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.

  123. Jen
    June 3rd, 2013 at 10:27 | #123

    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.

  124. Bryant
    June 3rd, 2013 at 12:35 | #124

    Low Entry is the answer…

  125. Jen
    June 3rd, 2013 at 13:27 | #125

    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!!

  126. Bryant
    June 3rd, 2013 at 19:32 | #126

    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…

  127. Bryant
    June 3rd, 2013 at 19:35 | #127

    @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!

  128. cm
    cm
    June 3rd, 2013 at 20:36 | #128

    @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 …

  129. islander_ori
    June 3rd, 2013 at 21:48 | #129

    @cm
    agree… location….
    even if work in mainland… no need to worry of the traffic…

  130. Jen
    June 4th, 2013 at 00:59 | #130

    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? :)

  131. Bryant
    June 4th, 2013 at 10:29 | #131

    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!

  132. Jen
    June 4th, 2013 at 12:11 | #132

    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…

  133. Jen
    June 4th, 2013 at 12:14 | #133

    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).

  134. Bryant
    June 4th, 2013 at 12:52 | #134

    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.

  135. islander_ori
    June 4th, 2013 at 20:05 | #135

    Any annoucement for Asia Green purchased the front plot of land (Tropicana Bay residence)?

  136. PWC
    June 7th, 2013 at 19:06 | #136

    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..??

  137. sheena
    sheena
    July 11th, 2013 at 12:57 | #137

    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

  138. Bryant
    July 11th, 2013 at 13:48 | #138

    @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…

  139. Yy
    July 17th, 2013 at 22:13 | #139

    It might expensive now but certainly not expensve 10 yrs down the road. @sheena

  140. islander_ori
    July 17th, 2013 at 22:21 | #140

    @Bryant
    how about 615sqft?

  141. Bryant
    July 17th, 2013 at 22:54 | #141

    @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!!!

  142. Bryant
    July 17th, 2013 at 22:55 | #142

    @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!!!

  143. sheena
    July 18th, 2013 at 09:34 | #143

    i think persqfeet is around 900 @ bryant…..

  144. sheena
    July 18th, 2013 at 09:36 | #144

    @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…..

  145. Bryant
    July 18th, 2013 at 10:32 | #145

    sheena :i think persqfeet is around 900 @ bryant…..

    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.

  146. Bryant
    July 18th, 2013 at 10:44 | #146

    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.

  147. Bryant
    July 18th, 2013 at 10:45 | #147

    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.

  148. Bryant
    July 18th, 2013 at 10:46 | #148

    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.

  149. sheena
    July 18th, 2013 at 14:11 | #149

    thx…………… @bryant…

  150. Bryant
    July 18th, 2013 at 14:28 | #150

    Sheena, so you will let go or carry on with your unit?

  151. sheena
    July 18th, 2013 at 14:57 | #151

    still with d intention to carry on

  152. Bryant
    July 18th, 2013 at 19:57 | #152

    Good luck sheena..

  153. Felicia
    July 31st, 2013 at 23:18 | #153

    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.

  154. Felicia
    July 31st, 2013 at 23:39 | #154

    Anyone has statistics on no. of condo units in Penang Island?

    Existing 2012 End-2013 (% increase) 2015 (% increase) 2017 (% increase)
    XXXXX XXXXX (%) XXXXX (%) XXXXX (% )

  155. sheena
    August 1st, 2013 at 15:17 | #155

    @Felicia
    but the condos price also incresing like anything in penang island………….. : )

  156. HUAT
    August 1st, 2013 at 15:29 | #156

    @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..

  157. Dell Executive
    August 1st, 2013 at 17:18 | #157

    @Bryant
    I am targeting 1300 per sq ft…..

  158. Bryant
    August 1st, 2013 at 17:29 | #158

    @Dell Executive
    What do you mean?

  159. Felicia
    August 1st, 2013 at 23:53 | #159

    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

  160. sheena
    August 2nd, 2013 at 12:09 | #160

    @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 ….: )

  161. Felicia
    August 2nd, 2013 at 23:23 | #161

    @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

  162. HUAT
    August 3rd, 2013 at 10:48 | #162

    @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 :)

  163. HUAT
    August 3rd, 2013 at 10:49 | #163

    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

  164. sheena
    August 5th, 2013 at 15:10 | #164

    @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…..: )

  165. HUAT
    August 5th, 2013 at 15:27 | #165

    @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.

  166. Gideon Rajoo
    August 6th, 2013 at 04:54 | #166

    If possible and can afford, buy landed properties better than these boxes in the sky

  167. Gideon Rajoo
    August 6th, 2013 at 04:57 | #167

    @Dell Executive
    RM1300 per sq ft! Penang Island properties are going through the roof. At this level, I will surely buy landed here

  168. Felicia
    August 6th, 2013 at 22:16 | #168

    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

  169. Bryant
    August 6th, 2013 at 22:23 | #169

    @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?

  170. Bryant
    August 6th, 2013 at 22:28 | #170

    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?

  171. Felicia
    August 6th, 2013 at 23:56 | #171

    @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

  172. sheena
    August 7th, 2013 at 14:26 | #172

    @Gideon Rajoo
    im staying in landed now… so PWC is for investment purpose….cant afford for another landed in penang : (

  173. Felicia
    August 7th, 2013 at 22:03 | #173

    @sheena

    Besides PWC, what are some of the good investment in Penang

  174. Felicia
    August 7th, 2013 at 22:04 | #174

    @Gideon Rajoo

    Any good recommendation??

  175. sheena
    August 12th, 2013 at 11:26 | #175

    yes pls share ……………

  176. wai011
    wai011
    September 19th, 2013 at 14:36 | #176

    SNP signing started??

  177. banana
    banana
    September 26th, 2013 at 18:06 | #177

    @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!

  178. lim
    October 6th, 2013 at 22:17 | #178

    true…invest in penang never went wrong. even cowboy town of johor also the pride is quoted at rm1200

  179. sheena
    October 21st, 2013 at 10:14 | #179

    @banana
    agreeeee!!!

  180. CC
    January 12th, 2014 at 21:39 | #180

    What is the withdrawal rates after recent government interventions by imposing several measures to cool down properties speculation activities??

  181. nazza
    October 31st, 2014 at 01:09 | #181

    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

  182. nazza
    October 31st, 2014 at 02:03 | #182

    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

  183. vnn
    October 31st, 2014 at 12:33 | #183

    @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.

  184. tomyam
    October 31st, 2014 at 12:40 | #184

    @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.

  185. LS
    December 10th, 2014 at 13:37 | #185

    what is the price / sqf now?

  186. YL
    January 7th, 2015 at 21:47 | #186

    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

  187. LS
    February 6th, 2015 at 11:33 | #187

    YL, how much ur unt price?

  188. interested
    December 10th, 2015 at 18:27 | #188

    if you are interested kindly email me @ ooichihhua@hotmail.com

  189. Goppal
    December 30th, 2016 at 17:35 | #189

    anyone can comment on penang population. is it increasing at a healthy rate. or slow, or fast

  190. Kelvin
    March 12th, 2017 at 21:32 | #190

    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??

  191. Beach Runner
    June 18th, 2017 at 11:20 | #191

    1,020sqf to let go. Anyone?

  192. JoeX
    August 12th, 2017 at 19:17 | #192

    I got a 1020sqft unit. Let me know if anyone interested. Cheers.

  193. Sh
    August 23rd, 2017 at 23:27 | #193

    Reason to let go, which block and how much @JoeX

  194. NgSoonHeng
    August 24th, 2017 at 13:30 | #194

    I want to buy nice unit la please call me at
    012-6606880
    0103838666

  195. Ann
    October 25th, 2017 at 04:45 | #195

    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

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