The Loft @ Southbay City

May 18th, 2013 Leave a comment

The Loft @ Southbay City, second phase of Southbay City by Mah Sing Group in Batu Maung, Penang. This development comprises two 30-storey towers with only 78 units in each tower. Each floor has only 3 units and served by two dedicated passenger lifts.

Other features:

  • Unique & stylishly design façade with international appeal.
  • 3 design types with built-up area ranging from 1,325sf to 1,615sf
  • Card access security system at the lift lobby
  • High ceilings & large windows translate into airy, radiant interiors.
  • All units’ living, dinning, master and second bedroom have sea view. Type A and B with sea facing balcony.
  • Maximization of sea and second bridges view plus natural greenery at lower level.
  • Approximately 2.5-acre leisure and recreational facilities decks at Level 4, 15 and garden pool level.
  • Uniquely design swimming pool with natural setting.
  • Level four each units with its own private garden.
  • Sky lounge & sky gym connect by sky bridge at level 15 with infinite sea view
Property Project: The Loft
Location : Southbay City, Bayan Lepas/Batu Maung, Penang
Property Type : Condominium
Built-up Area: 1,325 sq.ft. – 1,615 sq.ft.
Land Tenure : Freehold
Developer : Mah Sing Group
Indicative Price : RM900 psf. onwards


Categories: Batu Maung Tags:
  1. Mok
    May 18th, 2013 at 06:57 | #1

    Mah sing is famous to build the house or condo for billionaires….

  2. Bryant
    May 18th, 2013 at 09:35 | #2

    Starting from 1.2mil!! When launch?

  3. Highlander
    May 18th, 2013 at 09:58 | #3

    Is it a sea front project?

  4. AES
    May 18th, 2013 at 14:58 | #4

    Woah, barang naik… why property price skyrocket till so high??

  5. SK
    May 18th, 2013 at 21:57 | #5

    RM900/sqft! Is it worth!??

  6. ykseng
    May 18th, 2013 at 22:49 | #6

    3 year later u will say worth it.

  7. Tambun
    May 19th, 2013 at 09:52 | #7

    lord of the ring hahaahah, i bet 3 years later u will suffer if u are not buy by cash

  8. cm
    cm
    May 19th, 2013 at 10:50 | #8

    That see person finance …

    Like 3 year ago.
    When E&O sale their condo at Tanjung Bunga with RM850/ft2 … who will day worth?

    In coming 10 years, the housing price at penang will increase until which level who know?

  9. Tambun
    May 19th, 2013 at 12:04 | #9

    the current Penang property market is good for rich people, not for average people, anything adjust on interest and downturn, the average people will go down first. very risky to go in as average tom dick and harry now except u are former ‘Penis’ Group Goh cun lai or jho low fat boy haha

  10. Strange1my
    May 19th, 2013 at 17:04 | #10

    House for retiree or 2 home program…. Not for local boys…. Those frm hk, japan, china will say cheap….

  11. jackpg
    May 20th, 2013 at 07:57 | #11

    Sure will hv DIBS, then speculators can buy and flip flip flip

  12. jackie
    May 20th, 2013 at 10:44 | #12

    i think 900 per sq feet is a new high…mah sing is a league on his own…
    this price only will be matched in tanjong tokong area…wonder can it be any new high from there?

  13. jackpg
    May 20th, 2013 at 12:06 | #13

    Nowadays price per sq ft dun matter anymore. What people are looking for is the DIBS package where ppl put down RM50k to book one. In less than 3 years, find another buyer and walk away with some 20%+ gain.

  14. yeahright
    yeahright
    May 20th, 2013 at 12:48 | #14

    jackpg :
    Nowadays price per sq ft dun matter anymore. What people are looking for is the DIBS package where ppl put down RM50k to book one. In less than 3 years, find another buyer and walk away with some 20%+ gain.

    What makes you think that another buyer would want to buy a subsale property from a speculator when there are lots of new properties with dibs around penang that the buyer can choose from? What can attract ppl to buy from speculators instead of directly from developers when the developers can offer so many incentives but the speculators cannot . Less than 3 years can find another buyer for subsale ? I don’t think so .

  15. yeahright
    yeahright
    May 20th, 2013 at 12:55 | #15

    jackpg :
    Sure will hv DIBS, then speculators can buy and flip flip flip

    When everybody just want to buy new properties with dibs for the sake of flipping, then who would want to buy the subsale properties from the ppl who are trying to flip ?

  16. jackpg
    May 20th, 2013 at 13:15 | #16

    Look at Light Linear, RM550k when it was launched and now selling RM850k++. Only pay rm50k to own a unit during launch. If can’t sell within 3 years, sell within 5 years. Sure the market price will catch up by then. As long as the person sell below market price, will find a buyer.

  17. yeahright
    yeahright
    May 20th, 2013 at 13:35 | #17

    jackpg :
    Look at Light Linear, RM550k when it was launched and now selling RM850k++. Only pay rm50k to own a unit during launch. If can’t sell within 3 years, sell within 5 years. Sure the market price will catch up by then. As long as the person sell below market price, will find a buyer.

    You yourself said it before that ppl don’t mind the price because they are just looking for dibs package , so even though below market price still subsale has no dibs package what so how to find buyer ?

  18. yeahright
    yeahright
    May 20th, 2013 at 13:40 | #18

    The light linear got very low occupancy , at night most of its condos are all dark, sold out to ghosts ?

  19. jackie
    May 20th, 2013 at 13:58 | #19

    850k for 1452 sq feet…is only 585 per sq feet. i think it still based on the particular location with certain price per sq feet. Maybe DIBS can help u earn some, but if itself the price already that high, except for foreigners to come in, but why they would want to purchase that area without proper township planning? I would go for Katana-tanjong tokong area instead….so, i think even it can sell eventually 1000 per sq feet, u still earn lesser

  20. yeahright
    yeahright
    May 20th, 2013 at 14:27 | #20

    yeahright :

    jackpg :
    Look at Light Linear, RM550k when it was launched and now selling RM850k++. Only pay rm50k to own a unit during launch. If can’t sell within 3 years, sell within 5 years. Sure the market price will catch up by then. As long as the person sell below market price, will find a buyer.

    You yourself said it before that ppl don’t mind the price because they are just looking for dibs package , so even though below market price still subsale has no dibs package what so how to find buyer ?

    Btw, selling price is not equal to transacted price , ppl can jack up the price as high as they like on mudah.com , but who going to buy at such ridiculously high price ? Where got proof that ppl will buy penang properties no matter how high the prices are ? At night the light linear got very few lights on , sold out but very few occupancy so who actually buy them ? Who would want to pay nearly one million ringgit ( count the interest in laa) for a very noisy condo near a highway like that ?

  21. jackpg
    May 20th, 2013 at 17:17 | #21

    If there is DIBS, ppl will line up in front of developer office and properties will be snapped up quickly. If no DIBS there is always no queue. This shows ppl are buying not out of affordability but out of opportunity. Many people can afford to hold the property until they find a buyer. DIBS enable the developer to charge at a much higher price since they are bearing the interest for the buyers. Sometimes they will throw in a few perks such as discount or some nice landscape or pictures just to attract buyers. In any case, developer is always winning whether it is the 1st buyer or subsequent buyer the moment you sign the contract.
    If ppl want to buy a property with a decent price, ppl can try to abandon the projects for a while and see if the high price can hold.

  22. yeahright
    yeahright
    May 20th, 2013 at 19:12 | #22

    jackpg :
    Many people can afford to hold the property until they find a buyer.

    But there is the possibility of not being able to find a buyer at all right ? Having the longest holding power does not mean the property will be sold in the end . Holding the property forever till death defeat the purpose of flipping for a quick profit in the first place . When ppl buy new properties just because of opportunity and not because of location, location and location, then the failure to flip will become an issue later on , since genuine buyers will not want to spend their hard earn money to buy such expensive properties at an undesirable location .

  23. JackPg
    May 20th, 2013 at 20:18 | #23

    Even knowing there is a risk of not being able to resell, ppl still dun stop buying as long as there is DIBS. Unless we can tell all genuine buyers to boycott subsale, no way anyone can stop this speculation.

  24. Bryant
    May 20th, 2013 at 21:21 | #24

    Anyone know when will launch?

  25. pakpak
    May 20th, 2013 at 23:00 | #25

    @yeahright

    heard quite a number of inteler stuck there…

  26. Crime
    May 21st, 2013 at 09:52 | #26

    Is subsale market really so good now? Look at the linear light then you will know the answer. Keep dream the whole kampung of japanese, korean or singaporean will migrate to here when the political enviroment here so unstable after PRU13, thanks to the illegal gathering.

  27. Hemsley
    May 21st, 2013 at 10:18 | #27

    Those believe the market is collapsing, better stay away from property now, and get ready your cash once it happen. So you can buy 2 units later with 1 unit price right now. But before that happen, enjoy the 3% FD.

    Those brave investor, still think can enjoy a wonderful profit with flipping, you still have a chance to get it but with a much higher risk today. Sometimes, maybe 3% FD is better.

  28. Crime
    May 21st, 2013 at 11:28 | #28

    @Hemsley

    U talk lppl ? Where is ur stand?

  29. Hemsley
    May 21st, 2013 at 11:39 | #29

    @Crime

    I still buying and selling, with more cautions, planing to reduce the property on hand, increase the FD, shift some fund to other investments. Any problem?

  30. yeahright
    yeahright
    May 21st, 2013 at 13:02 | #30

    JackPg :
    Even knowing there is a risk of not being able to resell, ppl still dun stop buying as long as there is DIBS. Unless we can tell all genuine buyers to boycott subsale, no way anyone can stop this speculation.

    When speculators keep raising the prices higher and higher regardless of location , they are actually restricting their own market making it smaller and smaller up to a point where they got no alternatives but to rely solely on foreigners to buy their subsale properties , that’s very suicidal and can rely ruin their chances of making a sale . Actually because of dibs many speculators will end up being a hoarder of unsold properties , for they care only about what they want and fail to understand what their potential costumers really looking for in real estates . Mind you that foreigners are very selective , choosy and when they buy for ownstay, they still cling wholeheartedly to the principle of location location and location , since they are not looking for profit , but rather for enjoyment, relaxation and security which only certain locations in penang that can offer all that such as gurney drive , batu feringhi etc . They want restaurants , bars and pubs or shopping malls and beaches within walking distance . Teluk kumbar, batu lancang, gelugor, batu maung and ayer itam are all out .

  31. grace
    May 22nd, 2013 at 08:51 | #31

    penang a lot siao people, really tao kak pai only invest such property!

  32. JM
    May 22nd, 2013 at 16:26 | #32

    Waiting for fire sale….targetting those who has no cash but speculate on DIBS and hoping to flip in 3 years; those who left stranded because banking on subsale to Korean, Japanese, Singaporean or Taiwanese who may never come in droves and also those “tak boleh tahan” due to greediness and holding too many unsold properties in their stock, couldn’t rent out, couldn’t sell it……..You buy and hold, we pick up the spill over….3 or more years later when the market crash! Hee hee hee! Like someone said…put in FD and enjoy 3% while waiting for the crash……

  33. JackPg
    May 22nd, 2013 at 21:56 | #33

    What is so great about staying near a bridge. It is congested and polluted. The marketing guys make the website look so nice as if it was in tg tokong. Take a look at that place and u know it is not worth rm900 psf. Developers are getting too greedy.

  34. cm
    cm
    May 22nd, 2013 at 22:57 | #34

    When Tanjung Tokong sale RM850/ft2 3 year ago … many people also say very high price already … market will collap … But, now …. Hai … RM1300/ft2 ….. also got Sub-Sale …..
    Just see u can Hold it or not ……

  35. Hemsley
    May 23rd, 2013 at 07:23 | #35

    @JackPg

    It is a do or die for Mahsing. But condo they launched ~2 years ago, still leave some units.

    @JM

    How much you expect the crash will be 3 years later? 20%? Then it is almost the same as you buy a unit today with 6~7% appreciation per year.

  36. Cardevect
    May 23rd, 2013 at 10:26 | #36

    Wow! Nice Project…But I think I will rather wait for Setia V Residences Tower B which is located at Gurney Drive and will be launching soon…

  37. JM
    May 23rd, 2013 at 12:00 | #37

    @Hemsley
    20% is for a depressed market. A fire sale would be >30%. Not so much from a developer but from desperate individuals. Not always….. but a possibility that this occassional opportunity may come by. FD is one option for cash in-waiting but one is not restricted to FD or property as the only form of investment. An opportunist is quite different from a speculator!

  38. yeahright
    yeahright
    May 23rd, 2013 at 13:10 | #38

    JackPg :
    What is so great about staying near a bridge. It is congested and polluted. The marketing guys make the website look so nice as if it was in tg tokong. Take a look at that place and u know it is not worth rm900 psf. Developers are getting too greedy.

    Developers rely heavily on speculators to buy their million ringgit properties at undesirable locations because waiting for genuine buyers to come by would take forever , so they simply let the speculators worry about that.. such a cunning strategy , sold out like hot cakes , but sold out only to speculators , and the developers have managed to create false demand and trick valuers to raise the prices higher and higher based on speculative buyings ! Just look at central park condos in batu lanchang , million ringgit condos in an area like that ?? What foreigner would want to live in an area like that and for what ? Go around penang at night and see for yourself so many million ringgit condos everywhere got very VERY few lights on , there you go “sold out like hot cakes ” ! Is it safe and secure to live in a property where your neighbor is no where in sight but just endless and endless of empty units all around you ? A wealthy foreigner would think thousand times before buying a property with so many vacant units nearby , not safe whatsoever , its like living in an abandoned neighborhood !

  39. yeahright
    yeahright
    May 23rd, 2013 at 13:41 | #39

    cm :
    When Tanjung Tokong sale RM850/ft2 3 year ago … many people also say very high price already … market will collap … But, now …. Hai … RM1300/ft2 ….. also got Sub-Sale …..
    Just see u can Hold it or not ……

    Its not about how long you can hold it, but rather about how long it would take for the right buyer to buy from you at the price that you want when there are so many new properties around with so many speculators all trying to sell at the same time ! Go figure .

  40. Hemsley
    May 23rd, 2013 at 13:46 | #40

    @JM

    I’m not expert but if you expect the market to crash in 3 years, what is the other investment you will put your fund in? Or you believe only the property market will crash, but not others like share?

    My believe is Malaysia market will not crash by itself. If crash, should be lead by a worldwide or region crash. If this is such a case, cash is king, be it RM or other currency.

  41. JM
    May 23rd, 2013 at 16:51 | #41

    @Hemsley
    I think the Malaysian property market boom is very much localised and it has been quite a phenomenon in the last couple of years…..defying gravity! It has become out of reach for the average earner. The result of this buying frenzy is that a lot of these properties will be completed in about 2 to 3 years time. Will there be enough population to sustain all these completed properties? In these forum, some are already sharing about “ghost” properties….no occupancy! Is there enough rental yield or subsale for these properties to change hands? Will these investors/speculators be able to hold on to the stock, for how long and with how much appreciation? I have no crystal ball but there is every likelihood that this could occur even without being led by a global or regional recession. If indeed there is such bad timing that a global/regional recession also happen in 3 years time, that would be a double wammer! Yes, indeed I do agree with you that Cash is King. FD is safe and sure, but even then the rates could fluctuate according to economic conditions. For the opportunist, anything is an opportunity when there is money to be made, anything with returns better than FD. It is the rare gem (like the fire sale)….not easy to find but keep looking.

  42. yeahright
    yeahright
    May 23rd, 2013 at 16:54 | #42

    JM :
    Waiting for fire sale….targetting those who has no cash but speculate on DIBS and hoping to flip in 3 years; those who left stranded because banking on subsale to Korean, Japanese, Singaporean or Taiwanese who may never come in droves and also those “tak boleh tahan” due to greediness and holding too many unsold properties in their stock, couldn’t rent out, couldn’t sell it……..You buy and hold, we pick up the spill over….3 or more years later when the market crash! Hee hee hee! Like someone said…put in FD and enjoy 3% while waiting for the crash……

    To better understand what is really going on with the property market in Penang , we need to look at it from a business perspective : developers nowadays are acting like wholesalers, while speculators are like retailers buying just to resell back , and genuine buyers buying for ownstay = consumers . Just because wholesalers can sell their products like hot cakes to retailers who eagerly grab whatever they can , doesn’t mean the consumers are also going to act the same way as the retailers ! Penang property market are so full of wholesalers and retailers yet so few consumers hence the low occupancy issue is so widespread. To say ” penang properties are in hot demand just because many speculators are buying them like hotcakes and able to hold them as long as they have to” is similar to saying the products are in hot demand just because many retailers are buying and holding them in their shops ! How ridiculous is that ? The deciding force whether a product is in hot demand or not should be the consumers , that is the genuine buyers who buy for ownstay , and how many are they in penang property market ? We seldom hear about them, all we hear are speculators here and speculators there. It’s not sustainable to have so many retailers yet so few consumers !

  43. yeahright
    yeahright
    May 23rd, 2013 at 17:06 | #43

    Hemsley :
    @JM
    I’m not expert but if you expect the market to crash in 3 years, what is the other investment you will put your fund in? Or you believe only the property market will crash, but not others like share?
    My believe is Malaysia market will not crash by itself. If crash, should be lead by a worldwide or region crash. If this is such a case, cash is king, be it RM or other currency.

    If we have so many wholesalers and retailers yet so few consumers to buy the products, then what will happen to the products in the end ? Cheapsale !!!

  44. Believe
    May 23rd, 2013 at 17:17 | #44

    @Hemsley

    This guy is telling everyone the property will crash and pessimistic view
    hoping the price will drop 50% so that he will be able to buy. I will advice
    him to wait long, LOOOOOOOOOOONG !!!!. Don’t give up, keep going.

  45. Hemsley
    May 23rd, 2013 at 21:37 | #45

    yeahright :

    Hemsley :
    @JM
    I’m not expert but if you expect the market to crash in 3 years, what is the other investment you will put your fund in? Or you believe only the property market will crash, but not others like share?
    My believe is Malaysia market will not crash by itself. If crash, should be lead by a worldwide or region crash. If this is such a case, cash is king, be it RM or other currency.

    If we have so many wholesalers and retailers yet so few consumers to buy the products, then what will happen to the products in the end ? Cheapsale !!!

    If no worldwide or region crisis, the “wholesalers” will continue to build and sell, and the “retailers” will continue to buy and keep. To understand the market better, try to look for the indicators of the market performance. Otherwise, talk remains talk.

  46. peter
    May 23rd, 2013 at 22:43 | #46

    yeahright :

    JM :
    Waiting for fire sale….targetting those who has no cash but speculate on DIBS and hoping to flip in 3 years; those who left stranded because banking on subsale to Korean, Japanese, Singaporean or Taiwanese who may never come in droves and also those “tak boleh tahan” due to greediness and holding too many unsold properties in their stock, couldn’t rent out, couldn’t sell it……..You buy and hold, we pick up the spill over….3 or more years later when the market crash! Hee hee hee! Like someone said…put in FD and enjoy 3% while waiting for the crash……

    To better understand what is really going on with the property market in Penang , we need to look at it from a business perspective : developers nowadays are acting like wholesalers, while speculators are like retailers buying just to resell back , and genuine buyers buying for ownstay = consumers . Just because wholesalers can sell their products like hot cakes to retailers who eagerly grab whatever they can , doesn’t mean the consumers are also going to act the same way as the retailers ! Penang property market are so full of wholesalers and retailers yet so few consumers hence the low occupancy issue is so widespread. To say ” penang properties are in hot demand just because many speculators are buying them like hotcakes and able to hold them as long as they have to” is similar to saying the products are in hot demand just because many retailers are buying and holding them in their shops ! How ridiculous is that ? The deciding force whether a product is in hot demand or not should be the consumers , that is the genuine buyers who buy for ownstay , and how many are they in penang property market ? We seldom hear about them, all we hear are speculators here and speculators there. It’s not sustainable to have so many retailers yet so few consumers !

    Spot on ! Fed up of these ‘investors’ saying : oh, so and so project, everyone said so expensive in 2010 but now it’s up 100%.’ The situation now is that every single launch is a luxury project! I don’t think it was like this 3 or 4 years ago? Blatant oversupply. But I think it’s going to take a significant external international market shock to trigger a price crash. These so called long holding power types are staying afloat by taking out a 2nd or 3rd mortgage and playing stocks.

  47. yeahright
    yeahright
    May 24th, 2013 at 11:45 | #47

    @Believe

    I don’t buy properties at undesirable locations no matter how cheap and I don’t intend to hoard unsold and profitless properties. When it comes to real estate i still believe in the principle of location, location , location. Price is not an issue for me if the location is top ten . Million ringgit properties at batu maung, sungai ara, teluk kumbar, gelugor, batu lanchang , ayer itam ?? Give me a break, I would not even consider buying it even if its ridiculously cheap !

  48. Believe
    May 24th, 2013 at 12:20 | #48

    “The deciding force whether a product is in hot demand or not should be
    the consumers , that is the genuine buyers who buy for ownstay , and
    how many are they in penang property market ? We seldom hear about
    them, all we hear are speculators here and speculators there. It’s not
    sustainable to have so many retailers yet so few consumers !”

    Here you said it’s not sustainable but the price keeps rising. Price is not an
    issue but you don’t buy when its up and keep on saying, does it make sense ?

    Are you waiting for the sun to rise in the “WEST” ?

  49. yeahright
    yeahright
    May 24th, 2013 at 12:45 | #49

    @Believe

    Price is not an issue for me if the location is top ten .

  50. yeahright
    yeahright
    May 24th, 2013 at 12:57 | #50

    @Hemsley
    What makes you think the tiny island itself can sustain the never ending unscrupulous land developments ? Build + sell + buy + keep unceasingly , and penang environment will remain pristine regardless ? Come on , with its 3rd world infrastructure, 3rd world mentality of its gov at the state and federal level when trying to solve any kind of problem , and at the rate of the land clearing and reclaiming , it seems to me the worldwide or regional crisis is the least that you need to worry about .

  51. Believer
    May 24th, 2013 at 13:02 | #51

    yeahright :
    @Believe
    Price is not an issue for me if the location is top ten .

    YOU ON TALKING BUT NEVER BUY.

  52. Believer
    May 24th, 2013 at 13:04 | #52

    YOU KEEP ON TALKING BUT NEVER BUY.

  53. Bean
    May 24th, 2013 at 14:01 | #53

    yeahright :@Believe
    I don’t buy properties at undesirable locations no matter how cheap and I don’t intend to hoard unsold and profitless properties. When it comes to real estate i still believe in the principle of location, location , location. Price is not an issue for me if the location is top ten . Million ringgit properties at batu maung, sungai ara, teluk kumbar, gelugor, batu lanchang , ayer itam ?? Give me a break, I would not even consider buying it even if its ridiculously cheap !

    I wonder what was former KL land ? Swam land right, a piece of land that not even worth a cent ? I believe that time surely got same kind of ppl talk same as you or perphaps that was your grandfather or father last 50 years ago before the KL was developed. The fellow was saying ‘ Give me a break, I would not even consider buying the swamp land (now called as KL) even if its ridiculously cheap” heheheheheh you will forever miss the bus.

  54. Hemsley
    May 24th, 2013 at 15:26 | #54

    yeahright :
    @Hemsley
    What makes you think the tiny island itself can sustain the never ending unscrupulous land developments ? Build + sell + buy + keep unceasingly , and penang environment will remain pristine regardless ? Come on , with its 3rd world infrastructure, 3rd world mentality of its gov at the state and federal level when trying to solve any kind of problem , and at the rate of the land clearing and reclaiming , it seems to me the worldwide or regional crisis is the least that you need to worry about .

    What make you think it can’t? The 3rd world gov only started today? Why you think that there are less consumer out there? Do you have any solid fact or data? Otherwise, talk is cheap.

  55. yeahright
    yeahright
    May 25th, 2013 at 11:34 | #55

    Bean :
    I wonder what was former KL land ? Swam land right, a piece of land that not even worth a cent ? I believe that time surely got same kind of ppl talk same as you or perphaps that was your grandfather or father last 50 years ago before the KL was developed. The fellow was saying ‘ Give me a break, I would not even consider buying the swamp land (now called as KL) even if its ridiculously cheap” heheheheheh you will forever miss the bus.

    There are so many ridiculously cheap properties thoughout malaysia mostly at very remote locations where its hard to even find basic amenity , no water no electricity no shops ! But I don’t see people buying there in droves thinking that those locations would one day in 50 years from now could become like kuala lumpur ! Why don’t you go borong those properties laa, you might miss the boat if you keep on focusing on penang properties only !

  56. yeahright
    yeahright
    May 25th, 2013 at 12:16 | #56

    Hemsley :
    What make you think it can’t? The 3rd world gov only started today? Why you think that there are less consumer out there? Do you have any solid fact or data? Otherwise, talk is cheap.

    Does these all look pristine to you – stinky dirty mudflats at once pristine white beach, dirty seawater can’t even swim in it , horrible endless traffic jams, severe flashfloods and landslides .. ? It never used to be that way before , what will happen in 30 years with more buildings and more people live in penang ! You want data ? Just go to google satelite maps and look at the stretch of beach surrounding langkawi and thailand which are crystal white , and then compare them with penang beach which is greyish black, that’s how polluted penang is ! Consumers buy for own stay , the solid proof that less consumers are buying Penang properties is the fact that very few lights on at night in so many luxury properties well years after oc obtained which means speculators are trying to sell them but with little success .

  57. yeahright
    yeahright
    May 25th, 2013 at 13:16 | #57

    peter :
    But I think it’s going to take a significant external international market shock to trigger a price crash. These so called long holding power types are staying afloat by taking out a 2nd or 3rd mortgage and playing stocks.

    Who would have thought that Greece could go banckrupt ? And the reason it went banckrupt according to an article from university of Glasgow’s website : ” The major problem of the Greek society and economy is corruption, both ‘domestic’ and ‘foreign’. Vast amounts of funds have been misused or end up in the ‘wrong’ pockets. The cost for infrastructural development has been reported to be three, four or even six times more expensive than the average European one. Is Greece an expensive country? No. To be assigned large projects, you need to make a ‘special’ payment. It is the same, specific businessmen (and coincidentally media-owners as well) who are assigned these projects.”

    Sounds familiar ? That’s exactly the kind of corruption that has been going on for a long time in Malaysia . When Greece has gone bankrupt because of it , then why not Malaysia ? The once property boom in greece has now become property gloom . Why speculators keep thinking that the same fate cannot befall Malaysian properties ?

  58. yeahright
    yeahright
    May 25th, 2013 at 14:34 | #58

    @Hemsley

    In 2008 the real estates in Greece was booming, but look what happened to it in 2013 ? Price crash big time ! Back then in 2008 no one would have expected a price crash in greece to ever occur ! This article mentioned how the real estates agents over there were very optimistic that property market in Greece would survive no matter what , just the kind of optimism shown by Penang property speculators !

    Greek real estate boom defies market doldrums: By Niki Kitsantonis , Published: Tuesday, July 22, 2008 , ATHENS — Increasing numbers of affluent Europeans are buying or building luxury properties on the Greek islands, even as the market for top-end holiday homes in other European destinations like Spain and Bulgaria remains stalled, Greek real estate agents say.

    Industry experts explain that the range of available properties – from extravagant new villas to bargain plots – has been attracting foreign buyers, some of whom say their investments have doubled or even tripled in value in just a few years.

    “The islands have something for everyone, and they are close to home for Europeans, so foreign interest is strong,” said Yannis Perrotis, head of CB Richard Ellis-Atria real estate consultants in Athens.

    There are about 70,000 foreign owners with property in Greece and, while there are no official records of house purchases by foreign nationals, there is a lot of anecdotal evidence that the numbers are continuing to grow.

    The British and the Germans make most purchases, according to agents, who agree that the slump in the British housing market and a weak pound have had little impact on top-end property sales. Next are the French, Italians and Scandinavians. There have been fewer U.S. buyers since the dollar fell against the euro, but fast-growing interest from newly wealthy Russians is absorbing the slack.

    Agents say most of these customers pay €4,000 to €10,000 per square meter, or $590 to $1,470 per square foot, for new top-end properties, depending on the cachet of the location. These prices, up by about 20 percent since a 2005 real estate boom, are three times as high as those for similar structures in the fledgling second-home markets of Turkey, Bulgaria and Croatia and significantly higher than those for equivalent properties in Spain, where prices have plummeted in the past year.

  59. Hemsley
    May 25th, 2013 at 15:43 | #59

    yeahright :

    Hemsley :
    What make you think it can’t? The 3rd world gov only started today? Why you think that there are less consumer out there? Do you have any solid fact or data? Otherwise, talk is cheap.

    Does these all look pristine to you – stinky dirty mudflats at once pristine white beach, dirty seawater can’t even swim in it , horrible endless traffic jams, severe flashfloods and landslides .. ? It never used to be that way before , what will happen in 30 years with more buildings and more people live in penang ! You want data ? Just go to google satelite maps and look at the stretch of beach surrounding langkawi and thailand which are crystal white , and then compare them with penang beach which is greyish black, that’s how polluted penang is ! Consumers buy for own stay , the solid proof that less consumers are buying Penang properties is the fact that very few lights on at night in so many luxury properties well years after oc obtained which means speculators are trying to sell them but with little success .

    Don’t understand your point. Development always bring traffic and environment issue. Like it or not, you have to deal with it. The time you type long comments already consume energy which the generation created pollution. The electronics devices you used to pose the messages also polluted the environment during the manufacturing. Are you going to stop doing that?

    Lights at night is really a poor tool to measure the the occupancy rate. My condo has more than 90% occupancy rate, can I use it as a reference for all? I sold a freehold condo right after the OC and it took me ~6 months before the transaction done. So, don’t judge the occupancy rate within the 1 year time from OC.

    The more direct data is the Pg island population and the total condo/ flat/ landed available. If you have those data, you may change you thinking because pg island is actually not building fast enough.

  60. Hemsley
    May 25th, 2013 at 15:46 | #60

    @yeahright

    And for the Greece issue, no bubble burst if the 2008 economy crisis did not happen. Another very different thing between the 2 nation is, Greece depth came from other countries, while Malaysia depth…. is from you, me and hims mainly.

  61. Bean
    May 25th, 2013 at 16:45 | #61

    @yeahright

    i like the way you debate alway keep calm and professional from watever form of languages other ppl used

  62. Bryant
    May 26th, 2013 at 21:45 | #62

    yeahright :@Believe
    Price is not an issue for me if the location is top ten .

    So where is top ten to you?

  63. Aah dog
    May 26th, 2013 at 23:29 | #63

    greedy unethical developers are like blood sucking leeches … it is shocking .. the authorities must act against these unscrupulous vultures

  64. islander_ori
    May 26th, 2013 at 23:54 | #64

    @Aah dog

    Government can do something to suspress the price hiking, but it is too gentle just like little massaging. It won’t give much impact.
    Reason is the construction is one of the major contribution to country/state economy growth and it will impact its supply chain.
    Somemore, all the taxes from the property transaction are proportional to the property price. The higher property price, the more income to government.

  65. PGK
    May 27th, 2013 at 00:30 | #65

    Thats the difference between a SJK educated vs SJKC educated. SJKC educated wont be able to defend their point without calling names and personal attack. Just observe.@Bean

  66. Sensei
    May 27th, 2013 at 09:29 | #66

    PGK :
    Thats the difference between a SJK educated vs SJKC educated. SJKC educated wont be able to defend their point without calling names and personal attack. Just observe.@Bean

    Really?

  67. JackPg
    May 27th, 2013 at 22:14 | #67

    @yeahright
    While we are debating to buy or not to buy, bubble or no bubble, peolpe have switched their attention to the new tree sparina@Ideal VP. Starting at rm500 psf, it is perfect for investment. The price can easily hike to rm600 psf in less than 3 years.
    We can continue to debate here until the cows come home.

  68. sp
    May 28th, 2013 at 11:22 | #68

    may i know whether the taxes from the property transaction will go to state goverment or federal government?

  69. yeahright
    yeahright
    May 28th, 2013 at 14:18 | #69

    Hemsley :
    Don’t understand your point. Development always bring traffic and environment issue. Like it or not, you have to deal with it. The time you type long comments already consume energy which the generation created pollution. The electronics devices you used to pose the messages also polluted the environment during the manufacturing. Are you going to stop doing that?

    The polluted sea and river are not a bowl of soup gone bad that can be thrown away anytime we like , the pollution can only get worst with the population increase ! Just look at Gurney drive and Sg . Pinang , no matter how hard the gov tried to clean the area , its still blackish with nauseous stinky smell to it . When it comes to the sea and the river, the best time to deal with it is when it is still in its most pristine condition by preventing any kind of elements that can pollute it from ever come close ! Why the gov let the sewage flows easily into the sea and the river ? Deal with all the sewage in the state professionally and effectively first before even thinking of increasing the population size . An island with its sewage flows into the sea is similar to a house with its sewage flows into the drain , eww that’s dirty !

  70. yeahright
    yeahright
    May 28th, 2013 at 14:45 | #70

    JackPg :
    @yeahright
    While we are debating to buy or not to buy, bubble or no bubble, peolpe have switched their attention to the new tree sparina@Ideal VP. Starting at rm500 psf, it is perfect for investment. The price can easily hike to rm600 psf in less than 3 years.
    We can continue to debate here until the cows come home.

    The subsale property market in penang was described as quiet , weak and lacklustre in 2011 and 2012 ( read the article below) , meaning ppl did not want to buy from speculators . What makes you think this year any better with the prices hike ?

    According to Raine & Horne International Zaki + Partners director Michael Geh, The Penang secondary residential market in 4Q2011 was quiet compared to a very active primary market. Direct sales by developers saw good response in the quarter as well as in 1Q2012. The secondary market is expected to continue with its lacklustre performance.

    Malaysian property market to remain weak until 2013
    According to Siva Shanker, Deputy President at Malaysian Institute of Estate Agents (MIEA) , the weak performance of the property market will continue until next year as high prices continue to deter buyers .

    “Asking prices are too high. The buying frenzy is over. In 2010 and 2011, some residential sectors saw an increase of about 30 percent, which is way too high and moving towards a bubble. This trend has somewhat plateaued,” said Siva.

    “What’s happening now is there is no meeting of minds between the asking and the accepting price. The gap is just too wide and there are fewer transactions taking place,” he added.

    Additionally, the disparity between the asking price and the actual price of a property leads to the abortion of the sale, with funding as a major problem.

    “For example, the asking price of a property is RM1 million but the valuation amount might only be RM800,000. There’s a shortfall of RM200,000 and banks lend you money based on either the selling price or the valuation price whichever is the lower.”

    “So if the valuation price is RM800,000 and you’re eligible for a 70 percent loan based on that amount, you get a sum of around RM560,000. This means the buyer is going to have to top up RM460,000 on his own!”

    Meanwhile, Siva noted that the responsible lending guidelines of Bank Negara, which has been implemented this year, also created an impact on Malaysia’s property market.

  71. yeahright
    yeahright
    May 28th, 2013 at 15:13 | #71

    Hemsley :
    @yeahright
    And for the Greece issue, no bubble burst if the 2008 economy crisis did not happen. Another very different thing between the 2 nation is, Greece depth came from other countries, while Malaysia depth…. is from you, me and hims mainly.

    Why would foreign investors want to buy Penang subsale properties from the speculators when they can get cheap properties in Greece now that Greece has gone banckrupt ? High quality properties on greek Islands surrounded by the mediterranean sea or the low quality properties surrounded by the polluted river and sea of Penang ? I think foreign investors are taking a wait and see approach rather than buy expensive subsale properties in Penang , in case more countries turn backrupt in the near future I’m sure they would rather borong cheap properties from those countries instead !

  72. yeahright
    yeahright
    May 28th, 2013 at 15:20 | #72

    Directors of real estate agencies have admitted to the fact that subsales in penang are very slow and not good at all , but the speculators are in denial thinking that they can make a sale in 3 years , looks like they are living in their own little bubble .

  73. yeahright
    yeahright
    May 28th, 2013 at 15:26 | #73

    Bryant :
    So where is top ten to you?

    Home is where the heart is .

  74. jackpg
    May 28th, 2013 at 15:30 | #74

    @yeahright
    Still, there are more people who’d rather speculate than not do anything with their money.
    You can give 1000 reasons or quotes 1000 articles but speculators just – don’t care.
    May be The Loft is on the high side, but look at Penang World City and all the Ideal projects. The moment speculator see a new launch with “ok” pricing, they will line up in front of the sale office. 1000 reasons or articles are not going to stop them from speculating. As long as there is a 1% chance of re-selling, speculators will just go in.
    There is even an investor’s club that go for bulk purchases.
    Well, save your time and energy in trying to talk them out. It is their money, who cares?

  75. jackpg
    May 28th, 2013 at 15:38 | #75

    @yeahright
    May be you want to give your rationale in the OI, Ideal VP or Penang World City forum. See if you can get the speculators to agree with you and change their mind.
    People do it at their own risk, and why should we be so bothered.

  76. Hemsley
    May 28th, 2013 at 15:42 | #76

    @yeahright

    Nice said! Logical theory. The only thing is, what you mentioned are not new today. You can search some old forums, and you are just repeating what they said years ago.

    Pick up your phone, search through Mudah or other source where you can get the contact of owners selling their property, offer 10-20% lower than their asking price, with your great theory, see if you can close the deal 1 out of 10, 20….. or 30. I tried a few months ago and can’t event get 5% off.

    You need something to spark the fear of the owners that their properties price will going to drop, so groups of owners/ speculators will sell in mass, then you can get 20%, maybe 30% or event 50% off. For this, it must be a worldwide, or at least a region crisis.

    Anyway, I agree that the subsales market is slow. The transaction volume in 2012 is 24% lower than 2011. But the total transaction value only drop 8%. With simple calculation, the average price per transaction is actually increased 21%.

  77. Kai
    May 28th, 2013 at 16:31 | #77

    I also blow the property bubble in Penang.
    Goreng 1 landed in Balik Pulau and a super high end Condo in Bayan Mutiara.
    All bought during super early bird, deal with lawyer stakeholder only, not even approved but guaranteed advantage when comes out newspaper . That s why, by the time official launch, all stickers already.

    Until housing loan now totally at limit with bankers.
    I tasted sweet before, 1 early condo purchase- RM200K increase
    Even that 2 purchase also got paper gain now.

    See, whose goreng will Kena burst the bubble, at last blow!!! Hehehe
    Because, my friend, my family’s friend , every one I think in Penang stay one and goreng one with 1/2 purchase but keep quiet! developer dare to launch project with new price, people dare to buy.
    Every one want to earn RM100K-RM200K easily
    Thanks to young couples who got married and rush to buy house/ condo.
    Bubble will burst? See who Kena first la

  78. PGK
    May 29th, 2013 at 00:44 | #78

    So conclusion, is this project open for booking now?

  79. U3
    May 29th, 2013 at 07:44 | #79

    Not yet. Now is open for registration. Only open for booking on June’13.

  80. Ben
    May 29th, 2013 at 10:35 | #80

    Thanks Ryan for the info.
    If one day, bukit Gambir , touch wood, collapse due to earth quake in Sumatra .
    I can imagine, You will be the busiest guy, photostat A4 news, distributing whole Penang, every house.
    Keep up the good work, don’t forget other forums too

  81. Ana
    May 29th, 2013 at 11:14 | #81

    @Kai
    “Goreng” means “fry” or “get fried”. Have fun!

  82. John
    May 29th, 2013 at 11:33 | #82

    @Ana
    I scored A1 for my SPM.
    Get fried : Digoreng

  83. yeahright
    yeahright
    May 29th, 2013 at 22:23 | #83

    JM :

    Is there enough rental yield or subsale for these properties to change hands? Will these investors/speculators be able to hold on to the stock, for how long and with how much appreciation? It is the rare gem (like the fire sale)….not easy to find but keep looking.

    By looking at these auction properties at propwall.com , looks like some speculators in Penang are not able to hold on to their properties any longer !So much for a long holding power . Slow subsales will cause more speculators to go bankrupt for sure .

    Auction Date 4-Jun-13
    Reserve Price 1,640,250.00
    27, Taman Tanjung Dua
    Tanjung Bungah Pulau Pinang
    Property Type Residential-Detached, Storey 2
    Land Area 4,704.00 Sq Ft

    Bank Lelong / Auction Property : Address~No. 22, Lorong Endah 6, Taman Brown, 11700 Gelugor, Penang ( 2 Storey Terrace House ) , Asking RM 600,000(RM 410 psf) , 1,464 sf

    H Residence ( Formerly one ritz) 46-13-x
    Jalan Kelawai , 10250 penang
    Reserve Price : 2.106 mil
    Est Market Price : 2.6 mil
    Auction Date : 21st May 2013

    Location: No. 5-7-1, Edgecumbe Court, Jalan Edgecumbe, 10250 Georgetown, Penang
    Auction Price: RM 1,150,000.00
    Auction Date: 2013-05-21
    Land Area: 3305 sq.ft

    2 Storey Corner Semi Detached House
    Location: Lorong Sungai Air Putih 5, Bandar Botanica CT, 11000 Balik Pulau, Penang
    Auction Price: RM 842,400.00
    Auction Date: 2013-05-23

    Condominium , Sunny Ville Condo, Jalan Batu Uban, 11700 Gelugor, Penang
    Auction Price: RM 250,000.00
    Auction Date: 2013-05-15

    3 Bedroom Condominium, Gurney Park Condominium, Persiaran Gurney, 10250, Penang
    Auction Price: RM 600,000.00
    Auction Date: 2013-04-23

    4 Bedroom Duplex Condominium , Birch Regency, Jalan Dato Keramat, 10150 Georgetown, Penang
    Auction Price: RM 810,000.00
    Auction Date: 2013-04-22

    2 STOREY SEMI-D -house-, SOLOK SCOTLAND – PENANG, 4 ROOMS, 4641 SQ.FT
    AUCTION RESERVE PRICE: RM 1,600,000.00 MILLION
    AUCTION DATE: 14TH MAY 2013

    Bank Lelong / Auction Property : Address~No. 8A-08-10, Lorong Semarak Api 3, Asia Heights Luxury Apartments, 11500, Penang ( Apartment ) , 786 sf
    RM 300,000(RM 382 psf),
    Auction Date: 29-05-2013
    Closing Date: 28-05-2013

  84. yeahright
    yeahright
    May 29th, 2013 at 22:37 | #84

    Hemsley :
    Pick up your phone, search through Mudah or other source where you can get the contact of owners selling their property, offer 10-20% lower than their asking price, with your great theory, see if you can close the deal 1 out of 10, 20….. or 30. I tried a few months ago and can’t event get 5% off.
    You need something to spark the fear of the owners that their properties price will going to drop, so groups of owners/ speculators will sell in mass, then you can get 20%, maybe 30% or event 50% off. For this, it must be a worldwide, or at least a region crisis.

    I don’t think speculators in penang will all go bankrupt in one go, but they will rather become like rotten fruits falling down one by one from time to time . In the near future more ppl will start to realize that its better to buy auctioned properties in penang because the prices are much more cheaper than market price when more and more speculators go bankrupt . What for in such a hurry to buy bloated price properties from developers or speculators when more and more cheap auctioned properties are up for grabs , right ?

  85. yeahright
    yeahright
    May 29th, 2013 at 22:45 | #85

    For those who keep on thinking that all speculators will keep on buying and holding on to Penang properties whatever the cost , you really are not being realistic at all, do you think money grows from tree that all speculators can easily pluck anytime they like that makes them so immune from bankruptcy ? Retailers that fail to find buyers for their products will simply close shop laa, of course la not all at once but it all will happen gradually .

  86. ABCDE
    May 30th, 2013 at 14:07 | #86

    10 years ago, RM250psf…..crazy!!!!!
    5 years ago, RM500psf…..wait die laa!!!!
    3 years ago,RM800 psf…..see when the market gone laa!!!
    1 year ago, RM1200 psf…bubble surely will come d….
    come on laa all the kapster, the bubble ur previous generation mentioned until today you are still mentioning but it vnr happen….
    for those who think they are pro and feel like market is going to collapse d, stay away from the forum….we do not want to read you -ve comment….we just want to know price psf, how is the overall development…not your act pro argument here….

  87. Bryant
    May 30th, 2013 at 14:13 | #87

    ABCDE :
    10 years ago, RM250psf…..crazy!!!!!
    5 years ago, RM500psf…..wait die laa!!!!
    3 years ago,RM800 psf…..see when the market gone laa!!!
    1 year ago, RM1200 psf…bubble surely will come d….
    come on laa all the kapster, the bubble ur previous generation mentioned until today you are still mentioning but it vnr happen….
    for those who think they are pro and feel like market is going to collapse d, stay away from the forum….we do not want to read you -ve comment….we just want to know price psf, how is the overall development…not your act pro argument here….

    Totally agree, this forum should be utilize to discuss issues or topics on specific property or the developer which may affect buyers. Lets keep all the bubble, speculator price crash topic aside.

  88. tonton
    May 30th, 2013 at 14:20 | #88

    ABCDE :
    10 years ago, RM250psf…..crazy!!!!!
    5 years ago, RM500psf…..wait die laa!!!!
    3 years ago,RM800 psf…..see when the market gone laa!!!
    1 year ago, RM1200 psf…bubble surely will come d….
    come on laa all the kapster, the bubble ur previous generation mentioned until today you are still mentioning but it vnr happen….
    for those who think they are pro and feel like market is going to collapse d, stay away from the forum….we do not want to read you -ve comment….we just want to know price psf, how is the overall development…not your act pro argument here….

    Let’s goreng toward healthy environment.. else too many bangla will become our neighbors..

  89. JackPg
    May 30th, 2013 at 21:58 | #89

    yeahright :
    For those who keep on thinking that all speculators will keep on buying and holding on to Penang properties whatever the cost , you really are not being realistic at all, do you think money grows from tree that all speculators can easily pluck anytime they like that makes them so immune from bankruptcy ? Retailers that fail to find buyers for their products will simply close shop laa, of course la not all at once but it all will happen gradually .

    Let’s not worry for the speculators or the retailers. If people think they can make profit, we should just be happpy for them. People only have to answer to the bank, and not anyone else. So why should u be so hung up. For now, lets feel good for people who can afford it, be it speculating or genuine buying, and lets not hope anyone go into bankruptcy.

  90. yeahright
    yeahright
    June 1st, 2013 at 11:05 | #90

    JackPg :

    yeahright :
    For those who keep on thinking that all speculators will keep on buying and holding on to Penang properties whatever the cost , you really are not being realistic at all, do you think money grows from tree that all speculators can easily pluck anytime they like that makes them so immune from bankruptcy ? Retailers that fail to find buyers for their products will simply close shop laa, of course la not all at once but it all will happen gradually .

    Let’s not worry for the speculators or the retailers. If people think they can make profit, we should just be happpy for them. People only have to answer to the bank, and not anyone else. So why should u be so hung up. For now, lets feel good for people who can afford it, be it speculating or genuine buying, and lets not hope anyone go into bankruptcy.

    Then why should you worry when I mentioned about bankruptcy ? We should be happy for those who can make a profit from buying auctioned properties laa , since the reason the debtors become bankrupt is because of their own doing and not because of the hope and wish of other ppl ! No one goes bankrupt just because someone else hope for it to happen ! Many speculators are urging ppl to buy properties at bloated prices saying that in 3 years they can resell at an even higher price EASILY like hot cakes , well that’s not going to happen with the slower and stagnant subsale market , so the speculators are spreading false hope actually just to get buyers to buy from them , that’s a very dishonest way to do business . Why try to stop information about the real market condition from being discussed openly ?

  91. Feng Shui
    June 1st, 2013 at 11:16 | #91

    I need clarification.
    People said buy landed, dont buy facing T Junction. This is a common knowledge for all feng shui believer. Even offered with discount, believer will never buy because you cannot move in.

    But, correct me if i am wrong, one more thing is your home should not be at the end of the bridge, they said also bad feng shui. Is that really such thing? I mean due to what reason?
    If facing T junction, we dont want Bad Chi, understand.
    How about home should not be at the end of the bridge? Thank you for input

  92. Monkeyman
    June 1st, 2013 at 13:04 | #92

    FYI, the project already sold out in Singapore (it is target for Singaporean instead of poor Malaysian), this project selling price to them is only their Government LMC condo…

  93. ABCDE
    June 2nd, 2013 at 16:44 | #93

    @Monkeyman
    Really? I just asked their sales staff and this project is not even open for preview yet….where you got the news that this project already sold out to singaporean?

    Do you mean that none of the single unit sold to Malaysian? i doubt this statement…..

  94. Monkeyman
    June 2nd, 2013 at 18:29 | #94

    ABCDE :
    @Monkeyman
    Really? I just asked their sales staff and this project is not even open for preview yet….where you got the news that this project already sold out to singaporean?
    Do you mean that none of the single unit sold to Malaysian? i doubt this statement…..

    heard from my fren working in mah sing group…

  95. Steven
    June 3rd, 2013 at 12:34 | #95

    @yeahright
    good highlight…everyday passby…not much car in the carpark..

  96. hk
    June 5th, 2013 at 20:23 | #96

    yeahright :
    The light linear got very low occupancy , at night most of its condos are all dark, sold out to ghosts ?

    got a lot rich people, just buy and hold it.
    my customer bought 2 2nd hand units, just put it there. ppl are rich.

  97. Hkc
    June 6th, 2013 at 17:56 | #97

    Property bibble is now big and bigger

  98. M
    June 7th, 2013 at 14:00 | #98

    Congrats to who still interested to buy a property who closed to collapse bridge.
    900 ? definitely worth it.

  99. Vincent
    June 8th, 2013 at 18:35 | #99

    Mah Sing has always been on the super high end and this is of no difference. However to condemn other projects near the 2nd Penang bridge due to the misfortune is lame. Name me a mega project that didn’t result in some sort of casualty, and I guess some people just missed the write-up on the 1st bridge casualty. When we assess the worth of a project in Penang we measure it against a few factors. First the distance from city zero or magazine circus. It is 17km away and as such placing it under ‘far’ category. Next we look at modern entertainment factor. There no modern day shopping haven at this locale as of now and the soon to be completed SB Plaza doesn’t seem to be of any threat to QBM or GP. Furthermore food choice isn’t aplenty at this area at the moment. Nature attraction isn’t developed well either at this point in time. Strangely the developer doesn’t seem to capitalize on the proximity to the airport with no actual n the work to make the airport accessibility better. In fact lets say, compared to QB / Persiaran Bayan indah area, when taken into the consideration of the above factors. SBC still fall shorts sadly.

  100. Monkeyman
    June 10th, 2013 at 21:36 | #100

    M :
    Congrats to who still interested to buy a property who closed to collapse bridge.
    900 ? definitely worth it.

    THose Singaporean and Hongkie will say worth it! Anyway Mah Sing is totally not look at Malaysian market also… With nice package how those foreigner know it is at Batu Ferringhi or Batu Maung?? lol…

  101. Crime
    June 11th, 2013 at 07:58 | #101

    It a debate betweeb rich and not so rich ppl. I can see not so rich ppl r the majority complaining most in this forum.

  102. sasandra
    June 11th, 2013 at 10:15 | #102

    Recently i attended property fair in of the famous hotel in Penang, One sales guy advise me to buy property in mainland, he said Penang newly launch property mainly target for foreigner.

  103. tonton
    June 11th, 2013 at 11:06 | #103

    sasandra :
    Recently i attended property fair in of the famous hotel in Penang, One sales guy advise me to buy property in mainland, he said Penang newly launch property mainly target for foreigner.

    because the sales guy is selling mainland properties ma.. if i’m selling ipoh prop, i definitely will said whole penang is not for local one.. lol

  104. sasandra
    June 17th, 2013 at 20:15 | #104

    Does anyone observed with me that the subsale market price published by agent recent ly has been reduce abt 5 %. Those property with 520k, now start to see 495k.

  105. Ah_Dog
    June 17th, 2013 at 22:30 | #105

    yes , price drop …. hope those greedy n evil speculators n developers be punished

  106. Ezalor
    June 17th, 2013 at 22:50 | #106

    @sasandra Not at all. Hot spot where got price drop?

  107. Ah_Dog
    June 17th, 2013 at 23:07 | #107

    there should be mandatory jail term for greedy developers and its agents who exploit n manipulate house prices … In china they actually execute these scums of society …

  108. sasandra
    June 26th, 2013 at 19:26 | #108

    BNM is planning to remove DISB, Thats good. One if the developer say this control will cause whole economic suffer!

  109. condomana
    June 26th, 2013 at 22:53 | #109

    Hi sasandra,

    Removing DIBS is not enough to put a stop to excessive speculative buying as developers have other means of encouraging it; offering rebates is one of it. But no doubt, if BNM is willing to stop DIBS, speculative buys can be moderated.

    Nevertheless, we should not forget the impetus effect of foreigners buying our properties, particularly in a land scarce place like Penang Island.

  110. ng
    June 28th, 2013 at 12:42 | #110

    just got their called, recommended me 16th floor , 1300 sq ft, cost 1.6 m, 8% rebate, only pay 2% booking, free snp n loan aggreement. DIBS till VP ( 4yrs).

    worth ??

  111. Bryant
    June 28th, 2013 at 12:49 | #111

    Special Early Bird Sales Package :
    5% Rebate on 1st 10%
    3% Rebate on 1st 10% (conditional rebate subject to signing of Sale and Purchase Agreement (SPA) on the spot)

    DIBS until Vacant Possession
    • Free SPA Legal Fees & Disbursement (Excluding Stamp Duty)
    • Free Loan Legal Fees & Disbursement (Excluding Stamp Duty)
    • Free 1 year Service Charge
    • 24 months Broadband Connectivity

    To secure your dream condo by the sea, please issue a cheque amount of RM20,000 made payable to our stakeholder lawyer.
    This project is expected to be officially unveiled very soon.

    (I received this information today via e-mail for private preview invitation)

    @ng
    Take note on the 3% rebate which is conditional.
    Anyway, I personally like this property too. If can afford for own stay, go ahead. Even for investment is ok, but your target buyers will be very limited due to the price tag.

  112. pwc
    June 28th, 2013 at 13:24 | #112

    this makes pwc and Light collection look really cheap..seaview cannot cost so much more

  113. Calculator
    June 28th, 2013 at 14:59 | #113

    let’s say 1.2m for the cheapest unit

    Stamp Duty

    1% for 1st RM100,000
    2% for the next RM400,000
    3% for the balance 700,000

    At least RM30,000

    Correct me if I am wrong.

  114. sasandra
    June 28th, 2013 at 15:22 | #114

    OMG, terrible and worst area like this selling 1300sqft for One million, hope the property price will crash ASAP who are those ppl want to live in this polluted area.

  115. ttl
    June 28th, 2013 at 17:12 | #115

    Calculator :
    let’s say 1.2m for the cheapest unit
    Stamp Duty
    1% for 1st RM100,000
    2% for the next RM400,000
    3% for the balance 700,000
    At least RM30,000
    Correct me if I am wrong.

    that is for SNP only. On top of that you have loan stamp duty (loan amount x 0.5%= myr6000)

  116. Josh
    July 2nd, 2013 at 11:07 | #116

    @Bryant Wonder what is the profit margin for the developer?

  117. Bryant
    July 2nd, 2013 at 12:48 | #117

    @Josh

    I do not know. What is your profit margin figure if you are the boss?
    After deducting all the expenses (land, raw material, labour, advertisement, DIBS,stamp duty and whatever free stuff+rebate), adding 30 to 50% buffer in case of unforseen circumstances and for repair after O.C, I am guessing at least 100% nett profit margin minimum… So that is where we all contribute to the never ending price hike of every new launch

  118. nd4spd
    July 19th, 2013 at 13:57 | #118

    I like the 1680sq ft layout, the 13xx layout doesn’t look that roomy…

  119. Paul
    August 18th, 2013 at 18:46 | #119

    Wa 100% support you brother!

  120. Paul
    August 18th, 2013 at 18:52 | #120

    ABCDE :
    10 years ago, RM250psf…..crazy!!!!!
    5 years ago, RM500psf…..wait die laa!!!!
    3 years ago,RM800 psf…..see when the market gone laa!!!
    1 year ago, RM1200 psf…bubble surely will come d….
    come on laa all the kapster, the bubble ur previous generation mentioned until today you are still mentioning but it vnr happen….
    for those who think they are pro and feel like market is going to collapse d, stay away from the forum….we do not want to read you -ve comment….we just want to know price psf, how is the overall development…not your act pro argument here….

    Nice said! Thunmbs up!

  121. Rick
    September 1st, 2013 at 20:26 | #121

    I am a foreigner manager who has been doing business in Penang since 2002. I bought a sea view 2 bedroom at Southbay Plaza. I too am worried about a property bubble – we in USA have seen this in many many places here that grow and grow, then crash. As other writers say, when bubbles burst it is very ugly for prices. Here is my logic to buy anyway: The Penang area is growing because of industrial development from sophisticated multinationals – major companies are dis-trusting China, Singapore is too expensive, Vietnam is too backward, Thailand has shown itself to be a bit unstable. As long as Malaysia continues be stable, and being able to handle increasingly sophisticated projects, it will grow. I chose Southbay because it is in a less-developed area, close to the airport, Bayan Lepas, and (with the new bridge) the mainland region targeted for industrial development. So my target customer is businessman who does not want to mess with the terrible traffic each day to and from Georgetown. I could be wrong, and in which case I lose some money if I need to sell. I buy only 1 unit and can afford a loss if it happens. But overall I believe that Penang has a growth engine (multinational business) – and even in the USA crash, cities that had “engines” for economy did not crash (for example, Boston, Washington DC, New York). They did not go up in price, but decline (if any) was quite minor. So I think Batu Muang and other areas far from Georgetown will be attractive to people (foreign and local) who want to be near their workplace. For local, this will enable them to spend more time with family.

  122. Mok
    September 1st, 2013 at 21:10 | #122

    @Rick
    when bubbles happen in Malaysia, the property over million ringgit will be the first to suffer because greedy developers overpriced their property to gain more profit.

  123. do not ask
    September 2nd, 2013 at 03:01 | #123

    they are selling the prices 3 years beyond, every single of them (developer)is doing it.if you wan to crash the market property, few of the developer have to start selling the price whats it now.i dont think they ll, they are businessman.
    when economy crisis happen in malaysia, u planing to get a property, its not that easy, bank loan ll be more tight, u might lost ur job anytimes. if u buying it during economy crisis, someday u ll be one of them having problems as well. unless u buying it with cash.so get ready ur cash if ur target is 1million house.

  124. JT
    September 2nd, 2013 at 03:21 | #124

    Rick :
    I am a foreigner manager who has been doing business in Penang since 2002. I bought a sea view 2 bedroom at Southbay Plaza. I too am worried about a property bubble – we in USA have seen this in many many places here that grow and grow, then crash. As other writers say, when bubbles burst it is very ugly for prices. Here is my logic to buy anyway: The Penang area is growing because of industrial development from sophisticated multinationals – major companies are dis-trusting China, Singapore is too expensive, Vietnam is too backward, Thailand has shown itself to be a bit unstable. As long as Malaysia continues be stable, and being able to handle increasingly sophisticated projects, it will grow. I chose Southbay because it is in a less-developed area, close to the airport, Bayan Lepas, and (with the new bridge) the mainland region targeted for industrial development. So my target customer is businessman who does not want to mess with the terrible traffic each day to and from Georgetown. I could be wrong, and in which case I lose some money if I need to sell. I buy only 1 unit and can afford a loss if it happens. But overall I believe that Penang has a growth engine (multinational business) – and even in the USA crash, cities that had “engines” for economy did not crash (for example, Boston, Washington DC, New York). They did not go up in price, but decline (if any) was quite minor. So I think Batu Muang and other areas far from Georgetown will be attractive to people (foreign and local) who want to be near their workplace. For local, this will enable them to spend more time with family.

    For a manager from US of A, your English is really impressive. Kudos to you.

  125. Colleen
    September 2nd, 2013 at 04:08 | #125

    Haha… You had just said what i had wanted to… Darn powerful English…

  126. J
    September 2nd, 2013 at 08:24 | #126

    Historian : Backward looking – past record

    Businessman/Investor : Forward looking – potential

    Whatever happened in the past is gone. No point to always refer to the past record.

    The question is can the price goes up further vs the affordability.

    Remember, there were once many companies with past strong growth record. Where are they now? Solectron? Komag?

  127. J
    September 2nd, 2013 at 08:28 | #127

    After the strong growth in quantity and price in the past 5 years, the buyer pool is also smaller now.

  128. Sam Chong
    September 2nd, 2013 at 09:07 | #128

    Want to invest but dun want any risk, where to find?

  129. appollo31
    appollo31
    September 19th, 2013 at 12:56 | #129

    I heard the 1600Sqft now goreng to 1.4m ?

  130. ReallyLOL
    ReallyLOL
    September 27th, 2013 at 10:08 | #130

    Before any of you plonk your money into Mah Sing’s projects, go and take a look at their Ferringhi Residences show village and see for yourself what their definition of a million ringgit condo is.

    Mah Sing is not E&O. They are poles apart if we compare FR and Quayside.

  131. sassy
    October 30th, 2013 at 09:37 | #131

    this make people scare and try to buy their property at mainland

  132. Louis Tay
    November 11th, 2013 at 16:00 | #132

    Hi guys , if need any info on Loan and rating , feel free to drop me an e-mail at louis_14_th@hotmail.com

  133. ong
    February 9th, 2014 at 14:07 | #133

    Why Mah Sing advertised “Grand Launch” on 11-12 Jan 2014?

    I thought this project has been launched long time ago.

  134. Kuntakinte
    April 16th, 2014 at 10:27 | #134

    nobody buys perhaps?

  135. Kuntakinte
    April 16th, 2014 at 10:29 | #135

    “So my target customer is businessman who does not want to mess with the terrible traffic each day to and from Georgetown. ” — definitely wrong.

  136. pew
    April 16th, 2014 at 11:09 | #136

    ong :Why Mah Sing advertised “Grand Launch” on 11-12 Jan 2014?
    I thought this project has been launched long time ago.

    Just marketing strategy by developer. In fact you can see “sneak preview”, “preview”, “soft-launch”, “special launch”, “official launch”, but in most cases, they all mean the same, developer already opened for booking.

  137. tew
    April 16th, 2014 at 12:11 | #137

    @pew

    Yes, Mah Sing is really struggling with this project, but it has no choice but to bulldoze on as they have already bought the land. They will have a special launch this weekend, the “Easter Launch”, guests will be entertained with bunnies doing the gangnam style.

    Eh…….sexy bunny, op,op, op, op oppa gangnam style.

  138. lim
    May 11th, 2014 at 06:44 | #138

    Look like the response is not good.

    At this price, I prefer to buy a condo in Gurney/Tg Tokong (already establish) from sub sale market.

  139. JJ
    July 28th, 2014 at 16:22 | #139

    what is the minimum price now? if all RM1mil above, I won’t consider

  1. No trackbacks yet.
(You can also Login/Register to submit your comment using unique ID)

Comment Guidelines
  • Avoid political discussion.
  • Comments with inappropriate wordings or personal attack may be moderated or deleted.
  • Developer must register before comment. All anonymous comments claimed to be from developer without registration will be deleted.
  • Please do not advertise your property here. You may submit your property for sale/rent at PenangPropertySale.com.
  • All advertisement in the comment will be deleted. Please contact us for advertising details.



Property For Sale/Rent

FOR SALE/RENT

Sorry, there is no available unit for sale