Penang Property Talk

Launching soon?

Heard going to launch in 1-2 months. Anyone else has more accurate news?

they have done for the pilling stage.
should be very fast for the progress.

Per SQ FT average approx RM500, how to invest

too cheap

the location on the map looks like current Pearl Regency Condo? They rename it and sell again?

ks_rev, i have the same question in my mind too. I was thought that Pearl Regency condo ….

No, if not mistaken it is another block from Pearl Regency. Heard that is is going to be launched in first quarter of 2012, not sure which month yet.

Go there and see buy youe self. It is diff from Pearl Regency.

Heard it will be launched in March. Developer probably changed the concept and design to cater more for local needs. Smaller units with balcony. RM550psft I heard. Mid level pricing considering the location.

Wouldnt the view be blocked by Pearl Regency?

wah…RM550/sqft is too expensive…

see, i told b4fore…pearl regency is a IJM failure…they tried to sell in Korea => failed, then they tried to sell in local market => failed, now no choice, has to scrap another block and rename as Vertiq, hope that people will get away from the bad impression of Pearl Regency name.

good luck to you guys.

kiang li hoe, mai keh kiang lah. Like you are working inside IJM. hahahahaha

550/sqft is reasonable when the property completes in 2015.

not true. Pearl Regency was a good project, just failed as market to Koreas, and the locals just don’t know until it’s built. It is heaps better than Platino and Bayswater.

Both Pearl Regendy and this rename “Vertiq” are too close to the Tenaga station. I’m not sure about how serious is the impact of the electromagnetic to the residents but very sure about the impact of the low frequency noise that produces by the stattion everyday.

This kind of Tenaga station/chimney, and telecommunication tower topics have been heavily discussed round-and-round in the past across different projects, but it seems that it doesn’t carry much impact. Bayswater is located just beside the big christmas tree, some units simply have a full-frontal with it, but who cares? The forever-delayed Lanai Seri pulled so much attention and exitement for years, who cares abut the tenaga #1 chimney?

if yourself dun wish to stay close to tenaga, i doubt it will be good for investment. think as you buy for stay before you think of invest. Else you will ended up like Owner of units with direct facing the “Christmas Tree” in baywater, force to move in as unable to sell with a good price.

Please check to see if the X’mas tree is still there.

All bayswater rise 100% since it is launched and 30% at least for Platino.
Who cares about the Chimney/ Tenaga ? It is confirmed OK and have no pollution, no smoke.

I will be the first one who q on the soft launch …

Too expensive! But the location is good. But in this very small land, wonder if the facilities and garden can be well established? Or, just like normal flat, bath tub size swimming pool….just like Palm Palladium, very confine surrounding area, car park access also very narrow till you can see a lot of scratches which hit and drag by car (driving skills need to be very good to live there).

Beware, last time ppl worry on the Lanai Seri project too close to the chimney, but, this Vertiq is even closer, good luck, just wish the wind will blow the smoke towards see direction.

Believe me even the site is next to nuclear plant, it will still selling like hot cake as long as it in penang island. It become a trend either u buy a grave or u sleep at the road side

Look… RM550psf is reasonable in today’s market for this location but it is not affortable by most Penangites. Are you willing to have a larger unit at a further distance (within the island) or a smaller, more expensive but nearer town center?

I would recommand the units of Vertiq that is not facing the sea to sell at RM400psf for start.
Those facing the sea can sell up to RM600psf because it is a high den block.
If low den, can sell at RM700psf (or more) for those units facing the sea.

Are you listing, IJM?

Current market rate is RM500 psft. The TNB power station is gas turbined based, so emmision is water steam. It is cheaper compared to The Light projects. When completed, it will be cheaper than the market rate assuming RM700 by then. Prime locations in KL are already more than that right now. I feel the demographics of Penang are changing as there are younger generation looking for lifestyle, adjacency to commercial, close to work and accessibility.

Of course one can still buy in BM or Juru or Balik Pulau at cheaper price landed properties and suffer a bitch of commute everyday.

If you have a choice, you will not stay near or at the following.

- Next to cemetery
- On land reclamation
- At hill side
- On top of the hill
- Next to or near a power station (this case)
- Next or near to Indah Water
- Condo next to low cost

But who cares!? The free market in Penang seems to define all the odds.

@Ho
Where is that power station location?

I believed Jeffy was referring to the Tenaga plant opposite IJM tower (across jalan tunku udini). But I don’t see any cabling, not sure if this is a power plant. May be underground cable.

RM520k for the lowest floor with just 1044sf and to be completed in 3+ yrs? IJM gives 2 car parks? I believe only come with one carpark. Crazzy! This is definitely not for general penangites, only for rich people and foreigner.

I think already open for sale, for VIP and bulk buyer.

Smaller unit, lower floor priced from RM570k (come with two carparks). Middle floor will easily above RM600k for 1044sf. RM600k for 1000sf Condo? Completed in 3yrs time?

This crazy price only can be set by IJM, SP Setia and Mah Sing. Guess what, coastal highway and the recent Lebuh Raya Tun Lim upgrade from two lane to 3 lane infront of ‘The View’ are (were) built and paid by IJM, where the money coming from? — their house buyer la….

Pls note that the Pearl Regency is using white brick…under construction now, go and see. I thought IJM always use red brick on their project! and see feng shui like Alpine Tower at Bukit Jambul…..from good comment on their Bayswater, to the bad comment on later project like their Summer Place and Platino (low standard of finishing and fence), and don’t know what will happen on Pearl Regency and this Virtiq? ‘We continue to make good better’? What is that mean? Make it a good and better price?

The opposite is Pearl Piazza commercial shoplot, if open one or two disco or night clubs, then every night can dance at home until 2pm….just stone throw away from them

Is it commercial title?

Any other projects in Penang sold at RM550/sf? This one is very high density, and yet near to power plant and busy roads, very noisy, yet still can sell so high price.

Project with starting price from RM500k++ still can sell like hot cake? Queue for several days?