How much and the build up? Is it beside Shell petrol station?

Is it commercial title for the residential condo as well?

How much?Near jelutong where?
Thanks.

i highly suspect the company, since it was launching too many project in mainland and Penang.
How could it finish all the projects on time?

the sales person told me that their boss really rich, don’t worry….and told me that they need 5k for deposit where it is very low….then she won. hahaha

May I know around how much per sqft?

sure their boss is rich, but how fast they could built it all up is another matter….
they could build it in 3…4…5….6years and yes, their boss still would be rich

another thing is how much construction workers their boss have anyway…..to have all the projects up simultaneously would require a HUGE amount of laborers.

Heard 1 block of LMC on that location as well? Is it true?

this is high density development. commercial block, medium cost condo and apartment and block for low medium cost (LMC). This developer very good coz they always like build mix development for all ‘miskin and kaya’ people. I heard on this site has many squatters and 1 temple.

Tambun Indah has already proposed right issue & warrant, so cash for them should not be a problem. If got money then workers will come.

If switch the map above to “satellite”, sea view unit will have a spectacular view of “rubbish hill”…

I heard that many squatters has not decided to move out yet, they are still sorting out on this issue.

yes got money got workers….but will they prioritize this project over the other projects they have in the mainland?? I see this project will get delay as well…..

The earliest also end of the year. Let’s focus on other projects that going to launch within next 3 months.

There are two methods for the squatter settlement. First cash them, second relocation them in LMC. The info above does not state any number of LMC units.

Hi Admin, ur info quite up-to-date. Good job!!!!

@suzanne

the temple problems had been solved…..
all the old house will be demolised on october if not mistaken.

@Ken (Admin)
ken are u working for the development or the Architect?

@Joanne Tang

opposite the last time sunshine…behind the shell…
i was aiming for the project 2010…..

tq ken…Max Tay i think ken work for developer. Let me test him. Are the existing temple will be maintained or relocated?

is there will be LMC there as well?

@ksgoh

for sure will be LMC…..83 units for sales, 69 units for alocated, compensate for the old house demolish.

@suzanne

十三太宝 will be moved to tambun, the other one still maintain….^^

ok Max tq..ksgoh this is mixed development project. all kinds of people will live here

Any issues all kind of people will live together?

No issue just inform

May i know the apartment/condo price? start from how much?

Is the Block A1 commercial suite and Block A2 Condo totally in 1 stand building? How much for Block A2? Is there a unit of less than RM200,000 (not LMC unit)?

Will the Indah Water waste treatment plant just next to this project? Got a ‘big pool’ view

thankq MaxTay1208, so LMC will be biside of this project?
suzanne, staying with anyone is doesn’t matter, just don’t stay with selfish ppl…heheh

that right ksgoh. dont stay with selfish and foreigners…LMC inside of this project. all LMC and squatters in 1 block i think 28 storey.

example: bj court condo and its LMC…hehe

@suzanne
i don think gt under 200k….i jz get informed the price will be incresed….
last year the 1000sq rm280k…now not sure….

there are 4 different blocks..as stated above
A1 suites 1300 sq if i am not mistaken…..if i can get chance to take a look of the floor plan then i jz inform u all ^^

@MaxTay1208
under Pakatan they come out the new guideline to increase the density. If this developer use this new guideline they can build more and more unit condo but 5% unit they must sell below RM200K. Means in condo block there have some small units (not LMC). I believe the developer is using new guidelines based on the number of units they proposed compared to the size of the land. I dont know coz only developers have the answers. Correct me if I’m wrong…

i won’t be surprised if they build some studio units just like the ones in Sungai Nibong Residence from PLB to fulfill the 5% requirements.

@Lady Gogo
i think u r right..becoz they told me got small units….400 sq?i am not sure yet
but i am prefer to get the 1300sq and 1100sq…don know how much it sell.

Any facility ? Got swimming pool ?

When will it launch and price? I’m interested to buy a unit

May i know when will it be launch? What is the Price about?

what is the size for typical type? as what i get from sales person last few months ago, she said will be rm400-500 psf.

rm400-500psf? what the hack? increase so fast?
have to wait unitil april only can know….

Can any person explain why the property price in island and mainland increase so fast……? and When the price will going down…..?

The price won’t going down in Penang , unless u buy BM or sungai petani house ….

the price given rm400-500 psf is not confirmed. just the sales person told me. that time still no document to show me and no plan submitted to government yet.

I believe planning application has been approved. Maybe now they wait for building plan approved to confirm the price…Jane -block A2 & block B has swimming pool

i had saw the plan….but the price is not yet fixed…
i have been told it will be announced on april….

got plan already? u mean floor plan?

Lady Gogo : thanks for ur info , that good got swimming there hahahahaha
How much per sq ft for the condo ? Can I know the sq ft for smaller unit of condo ?

smaller unit of condo of course under 1000sq ft maaa….

Hopefully the price not expensive lo …. Hehehehehehe

@ksgoh
not the floor plan…
jz a plan of where the building should be located, and the facilities, entrance….and etc

is it near/opposite Symphony Park?

I would like buy the low medium cost hse

I would like to look for a plan on Condo and how much the selling price with how many sq

@SL

opposite symphony park……….

i wan house……pls let me no all hav approved pls…..

Studio Suites open for registration but the selling price is crazy. <RM300K for 400 sqft Studio and fully furniture

commercial title for the suites, cannot tahan the electric/water bills.

i received the early bird registration invitation sms. only for studio suites? how is the price?

<RM300K for 400 sqft Studio. They will having booth in Straits Quay Conventional Centre next weekend for another Propoerty Fair that held by iProperty. Please attend and check with them on more detail infos.

Estimate price 300K for 400sqft furnish studio with 1 bedroom; 400K for 600sqft furnish studio with 2 bedrooms;

Crazy 走火

@YK
the price is over…
i am afraid when is condo come out….many ppl cannot afford..the price is rm280k 1000sq for 2010 and now…don know what to said………..

300K for a furnish 1-room 400 sq ft unit ???!!!! this is outrageous … daylight robbery !!!

time for the state goverment and LGE to step in … to stop this nonsence …

for new projects beside the no. of units (density), are the selling price subject to approval of the state authorities before issue permit/licence ???

the penang goverment need to enforce a price control mechanism to counter those greedy and unscrupulous developers …

@Penangites Raped
totally agree…this is really over….

@Penangites Raped
can not stop. state government has implemented a new guideline with increased density. the state government now encourages developers to build more houses subject to the payment of the technical contributions. Now developers can build more house with a high density. The conclusion is state government will get a lot of technical contribution if the developer build more houses (win-win situation). Build more, pay more….But the victim may be a buyer

what about the greedy and unscrupulous speculators ?

sound the price quite high, but i think the speculator will accept this concept…

i called the sales yesterday, they said fully renovated with furnished n electrical items, waived all the interest………

My frens just registred 10 units for china market, he want mark up n sell to china man…….crazy but profitable……

china market ??? dun understand…….dax ???

bcoz of fulllly renovated n waived interest, so can mark up later n sell to china man for second home…

oh……………so i know how the penang properties price can rise like singapore

now if you want a house with a low price, you only can purchase LMC unit. i heard maybe in future low-medium cost houses will not be available on the Penang island (DTL area) but will be transferred in mainland especially Batu Kawan.

agreed with ladygogo

i think the reasonable price is about 550 to 600 psf, becoz the suits u r aim to future market not now

1 of the reason behind proposed second penang bridge is to transfer the low medium cost or low cost to mainland. So in future only rich ppl will stay at island..

if that is the price set…faster go sapu other old apartment nearby in jelutong..

@Penangites Raped

I have clarified with the developer. The proposed price is aroudn 270k and fully furnished(works out to be around 600 psf).I do agree with you that property price in penang has gone through the roof. However, we cannot ignore the fact that new laucnhes for the Light and E&O are selling above Rm1000psf

270k for 600sqf one room apartment?

almost 300K for a tiny 400 sq ft one-room apartment in a lousy jeluton area is beyond justification and ridiculous

penangites … pls wake up … dont be fooled by the developers sales staff

dont so easy throw your hard-earned money and life savings into the deep pockets of unprincipled greedy developers a.k.a blood-sucking leeches

in US the goverment will charge them with unfair price manipulations

There will b lmc which launch later.

house price is gone crazy in penang….been ‘cha’ like hong kong already…

If 270K with 600 sqft fully furnish & electrical products still can consider. Or else just ignore on this project.

what’s that mean by commercial suite ?

i think the price is kind of crazy for this small unit in term of size la. Property price in penang is now extremely expensive compare to other as sal is not that comparative with those city like SG, Hk.
With the estimation of the studio type 300k for 400spf.. wow 750 psf.. 400 spf for only a room.. crazy..

Heard that will be open for register on next fri,sat n Sunday at straits quay

@Jane
register only for the studio unit…
the condo price only will come on at least on april….
or by june

Any idea how much is the maintenance fee for suite? More expensive than condo or by build up size?

is this consider service apartment? residential title or commercial title ?

what is the different betweeon residential title and commercial title ?

quit rent, electrical, water, all using commercial rate. which is higher. and if it is service apartment, they will not be car park included. and not under the housing act.

No car park? Then where do we Park our cars?? What is housing act?

service apartment use more to hotel. This project is for residential and commercial, 1 block for commercial, 2 block for condo and 1 block for LMC. No service apartment. 1 block commercial (block A1) and 1 block condo (block A2) will stand together in 1 podium car park. I think this block A2 condo will be more expensive than other blocks.

Lady go go,
Do u know why they split for commercial n residential titles? Both also hv shops underneath right?

service apartment does not provide car park. You need to rent monthly car park from management. If the condo is under residential title then it is ok. Hope it will not be another birch time square.

http://www.tambunindah.com/html/projects_mainCat.aspx?ID=6&PID=716

Already updated from developer website. I went to the site and seems like all the kampung hse still there without moving. When is the completion date, 4 or 5 years from now onwards? Developer locked the selling price based on projected price on year 2016?

I really do not understand why people compare the property price in penang with HK and singapore. Penang is an island but is not a country. People can travel to KL, JB, Melacca, Singapore for better career opportunity.

@Tan
Good point there, they are comparing apple with orange. Singapore and Hong Kong is different… Penang is just fully depending on the foreigner island. No them, no penang island.

@YK
the news confirm the old house will be demolised by october

@MaxTay1208

Thanks for the update. That’s mean earliest completion for this project should be around end of 2015. Should be good project for fresh graduate because affordable and low downpayment (only RM8.8K posted in newspaper) but superb small sqft

@YK
maybe the downpayment is lower. can choose unit before tat ^^
i am not sure yet…once i get confirm will let u know

400sf, Rm268,000
600sf, Rm399,000
maintenance fee = $0.25/sf

Wa lau.. more expensive than IJM project ah ..

@House buyer

Please don’t compare with E&O. Who is the major population in Jelutong? Who willing to pay high rent for a suite in Jelutong?

Back is highway + Indah water. Noise & smelly. Watch’up yourself.

CBS :
400sf, Rm268,000
600sf, Rm399,000
maintenance fee = $0.25/sf

wow, the pricing is crazy !!!!!!

Wah, really crazy

Yes. The pricing is crazy. I think if the developer gets an encouraging response (which i think they will, with the support of speculator), the Jelutong area will become another “high Class” area in Penang. And you bet, other upcoming project will be selling at higher price and the existing units in this area will also experience price hike.

If the price not crazy now, when will it be? All the developers are launching their projects at higher price now since the steel is still hot, once the make people crazy and not able to afford and not enough residence to fill up the vacant, then will be another story. Now, the steel is hot….hot for speculator, while those medium to low income people will put a hope on LMC, hope on the government to build so called affortable houses.

I am 100% penangite, but I am no longer able to buy my dream house in Penang Island, need to move to mainland. RM700psf?? What is next??

If PG continue to be still under PR, high chances property in PG will never go down. When government is not corrupt, more investor tend to come in. For rich people in SG, China and other Asian country, they will come to invest in PG either for own needs or investment needs. There is one time I visited IJM office and guess what, a load bus of Chinese from China came for buying the property. So the high land price is not caused by Malaysian only. I suspect it is from foreigner also. When you buy an apt/house, buy per your needs by looking 4-5yrs ahead. Ask this question:
1. Do you plan to get married and have children?
2. If yes for 1st question: can you afford to have baby sitter? if not get somewhere near your parents/in-laws house. You will need help. Your increment by “makan gaji” will never beat the inflation rate.
3. The place you stay, is it near to school?
4. Is it near to work?
5. Is it near market and clinics?

Based on the questions above you will buy wisely without following the herd mentality people. There are a lot of apartments in PG still selling cheap at < RM400/sqft with semi/fully furnished unit. An old apartment can be brand new with a new coat of paint. I find that many youngsters only want to buy newly launched apartment but forget to assess the above question. One logical fact: Ivory Group bought the reclaim land in Bayan Mutiara for RM240/sqft. Do you think they have not assess the potential value of the land before buying. Future land prices will use this as benchmark. Future apt price per my assessment will not be less than RM400/sqft in current trend. Only way for the price to drop is for Penang to lose manufacturing business, heritage status removed, choose BN and let corruption to restart until no investor dare to come to PG or reclaim the land to connect PG & mainland.

the price is really crazy especially this project is in Jelutong area!!

I think it is not a good idea to just sitting out there and keep complaining about the escalating property prices. You should start to take action to start “investing” your own future. Just try to grap a unit for own stay so that you will not be kicked out of the Penang Island. Keep complaining will be useless. Take action to overcome it is a wise way to secure your own future.
If cannot afford a new project, go for subsales. There are a lot of them in the island. If cannot afford 400k, go for 300k or 200k or even lower. Just invest one unit to ensure you have the so called “HOME”. This will at least put a safety net for your future. If the property prices keep increasing in the future, you will have no worry. Your “HOME” price will also increase by then. Who knows maybe your income also increase in the future and you can afford a bigger “HOME” for your family members.
So my opinion is to “invest” your “HOME” now to secure your future. There are lots of units in the subsales market. Just spend some time to do the research and you will find the jewels. No point to keep complaining. Take action to solve your problem.

Too crazy price……

Well said CBS. Penang is land scarce and property prices will not come down for sure. Take Singapore for example. Psft already at 2k and i am very sure Penang in 5-10 yrs time, we will all see that kinda prices. As long as the economy doing good and population in Penang keep increasing, prices will steadily go up.

After shopping around during this 2 weeks property fair, I personally think off this is the “HOTTEST” project in Pg island (in term of affordable price). Really scary the pricing Let’s wait and see the upcoming show room and decide GO or NO GO.

Suite is too small. Any idea how much is the condo price? Most probably will be non-furnish else I can’t imagine the price.

starting price 500/sqf for straigt garden at Jelutong, the price is getting crazy.

@NG
if not mistaken is at least rm350 or rm400 psf..
damn..it was rm280 one and half years ago

Ah Dog and CBS are u try to politicize the price of the house? Choose bn to down the prices???

Crazy man!

may i know have show unit…

Lady Gogo, I am just trying to encourage people to start taking action before it is too late (age grows) for them to own a shelter(house) in this lovely Penang island. Both BN and PR will do little help to cool down the property prices in Penang. This is because both of them will try their best effort to develop the country. Once development takes place, it is unavoidable for property prices to rise.
Both BN and PR played their role in the current high property prices in Penang. For BN, Najib cut the prices for oil and sugar, setting low RPGT…….For PR, LGE implemented good policies that encourge investment……. These are all good stimulants for higher property prices.
So, my opinion (I think wont be wrong) is such that property prices in Penang will even go higher in the future. So people out there especially Penangites should try to grap a house for themselves so that they wont be “kicked” out of this lovely island.
We know that:
Medical expenses becoming more expensive so we buy medical insurance.
Education is becoming more expensive so we buy education plan insurance.
Housing is becoming more expensive so we buy or dont buy property now?
For those who cannot afford landed property, buy high rise.
For those who cannot afford new project, go into secondary market. There are still jewels in it.
For those who cannot afford 400k, go for 300k, 200k or even lower prices.
At least, we as a Penangites, own a house that we can call ‘HOME” in this lovely Island.

the condo price will be 600k for 1.3k sq ft….

@CBS
Ok in my opinion house prices increased under PR. They already increase rezoning fee, density fee and plot ratio fee. For example before this density fee is RM5 sqfeet and then up to RM15 sqfeet and developer allowed to build more houses. So between the developer and the state there is a win-win situation, state get more money(contribution) and developer can build more houses.

We need to know Federal maybe less or not providing funds to State because of political difference. So State must find their own funds through investment and development fee collection from the developers. For developer they may be able to comply with the increase in development contributions but at last they will claim from buyers under housing prices.

Yes property prices in Penang will even go higher in the future and we will see a variety of housing projects will be develope soon and there is no limit. Good for development but at that time the right words for some of us is “no money no talk”. For middle-income group, now is the best time to buy a house before price increase.

@Lady Gogo
True. This is why those people who keep complaining about high property prices should take action now. They may want to wait until the prices to drop or the bubble to blow. But This may not happen. Even there is a correction, the prices may not drop drastically. At the end, they will be a loser.

Even buying 2 flats and then join them together will not be too bad. You will get >1000sqft at price of less than RM150k. So buy a HOME now. A place where you want to raise your family. Raising family doesn’t mean need to have new apartment, new banglo or new terrace house. You need a place where it is convenient, schools are nearby, and near your parents if needed. After getting your HOME then only plan for others for investment or upgrade once you can afford. Those who complain of too expensive apt in last 4-5yrs, now can only buy small apartment. If now you miss the boat again, next target will really be LMC units. In 10-15yrs, majority of makan gaji people can only rent a house/flat.

@Wince
confirm already?
how about the 1000sf one?

Tambun indah the developer is crazy, how can this kind of selling price be approved?

@Palm Villa n @CBS
Thanks for the detail explainations. Very good advice.

@Lady Gogo

Exactly. I heard that some developers are paying millions in terms of extra contribution to MPPP compared to the BN days as a result of the increased density fee. A development of this size will probably cost the developer millions in extra contribution as well. As a result , is it realistic to expect prices not to go up? . You can keep complaining but the problem is developers are probably the biggest source of revenue for the state govt now. How much can they collect from assessments alone when all income and sales tax go the the fed govt

@House buyer
for small and medium developer they may have problems but for big developers like SP Setia, Mah Sing, IJM, Ivory, Hunza and maybe this Tambun Indah they able to pay the high financial contribution especially rezoning fee. Now to convert zoning from ‘Tanah Bukit’ or ‘Pertanian’ to residential or commercial involve millions of ringgit. Only change of zoning, developers need to pay millions ringgit to MPPP/State. How much if local authority allow Penang Turf Club land convert to development zone??

Unlike the situation in mainland, the payment of contributions is not too massive and small or medium developer have the opportunity to plan projects here. If not mistaken I think big developer like SP Setia and Mah Sing do not have any projects at mainland.

All these elements which affect house prices. Developers pay more to build housing schemes and finally buyer also had to buy a house with an expensive price.

under the state gov. revised guidelines where developers need to build a certain percentage of affordable units priced between 200k and 300k
shouldnt these affordable units be a decent 3 bedroom with a built-up area of around 700 to 800 sq ft for the average size family ?
here we see developers coming out with tiny 400 s.f. pigeonhole with one bedroom priced at 300k !
and how can this ridiculous selling price be approved ???

LGE has placed rich investors interests above that of the well-being of the people allowing developers to take control of the state .

social chaos coming …. ?

KL and johor even Melaka also have a lot of this small expensive pigeonhole launch since years ago. Is that situation have something to do with LGE also??

@tata
Yes no matter who. But only different types of houses provided. Can you find a new single storey terrace in Penang? Even at mainland i think only Bertam Properties (private company) build new single storey terrace.

hi tata, check out Balik Pulau. still affordable now.

Anyone know how “fully furnished” the studio unit will be? Does it come with timber flooring, plaster ceiling, kitchen cabinet, built-in wardrobe/tv rack, fridge, washing machine, tv, sofa, bed frame, mattress etc etc…. ???

@MaxTay1208
I checked with Tambun Indah salesperson in strait quay property fair, she said it is 1300sf onwards and around 600k++

I check with MPPP for new guideline. Developers need to build a house costing :
5% from all units need to sell below RM200,000
10% from all units need to sell below RM300,000
5% from all units need to sell below RM500,000
Another units they can sell with a crazy price..I believe this development subject to this condition but I do not know which unit.

MPPP should also specify the built-up area to be sold below RM200K, RM300K ….
or else we get tiny pigeonholes from greedy unscrupulous developers !
rules & guidelines must be well thought out & planned to be strictly enforced with any possible loopholes plugged …

BTW, where are the below RM200K units for tis straits gdn … ???

@Wince
damn, the price is too over……
i am interested about the 1000sf….

anyway, i heard news said near harmony view there is going to biuld a new condo units which is rm300k++ on 1000sf…but don know is correct or not

@MaxTay1208
yeah, it is overpriced…..

300k++ for 1000sf??? where you get the news?

@Wince
i heard from my neighbour there..but i am not sure is correct or not?……
becoz straits garden is really over price la if 600k…couldnt be afford to get it
any how there is still some project allocated near jelutong…hope the price is reasonable

Central park at nearby Batu Lanchang are asking for less than $800k for 2000 sft condo unit, should be more worth than this.

how was the sales in Straits Quay last month for the Studio type.
Anyone visited and felt the soft launch? Mind to share

262K for a fully furnished studio@404 square feet…..

@MaxTay1208
straits garden already tagged condo in jelutong area for such high price, i don’t think other projects not going to follow, unless nobody is queuing when they launch the condo….

The land price in Jelutong is very expensive now, so regardless of its a “huan nah” kampung previously. The new price from developer will wow all of us from now on.

unbelievable for studio also with so good demand.
It’s too expensive with such a small size.
Penang still with a lot of choice why go for such small size and price is not cheap..i cant believe.

The Jelutong roundabout will be very congested once all these highrise completed in 2015. There are at least 4 condo being built within 1km radius from the roundabout – Vertiq, Pearl Regency, Straits Garden, Grace Residence, Nova Place. Not to mention those at Bukit Gambier.

not sure if people can accept this kind of studio concept living in penang…
i know it is normal and quite popular in singapore where land is very limited for bigger units, and expatriates without family prefer this type as long as location near cbd area and mrt which makes them more convenience to travel for work and food…

exactly the point i agreed with Jo.
I dont think penang will have the trend.
Furthermore the location is important for expatriates to rent, if facing sea like tanjung bunga or batu ferringhi or near to industrial area maybe still got hope.

But Jelutomg area a bit hard la to me.. unless they have very good plan for whole project with theme then ok lor… if not think twice for Studio.. where got local people rent this single room type of house ler..

Anyone received SMS for priority booking from today till Sunday?

Heard that poor response on this project. Really overpriced by developer.

@YK
ya…i am thinking to give up……i been wating for so long becoz i live at jelutong for more than 25 ++ yrs….i insist to buy this area becoz i was born here…but i think i have to give up..if the price is over 450k for the 1000sq condo

If the condo costs only RM450K for 1K sqft, may can consider because only RM450 per sqft. Right now is the studio already costs RM600+ per sqft.

serve them righ for getting poor response! Selling at 700psf is crazy for such a small unit. They simply want to earn money from buyers with so called fully furnished. Pg people are not stupid now! let them keep those small units unable to sell.

thanks to pakatan rakyat, want to earn earn earn but forget the basic needs of rakyat

another look a like “bj court condo” project?

expected reactions la….1000sft at least ok..some not even reach 500sft..wanna become SOHO also not enough big…good try tambun indah..

there is simply no market demand by penang residents for such ridiculously overpriced small suites in jelutong
what was originally supposed to be a affordable housing project for the masses ( 3 rooms wt a decent 700 s.f. area) in line with the state goverment guidelines has been obviously ‘hijacked’ by unscrupulous developers

sheer corporate greed at its ugliest

its time the state authorities step in and take stern actions against these errant developers …

@YK
we will see how 1st, let see how the price going….if too high then have to give up…….

i already gave up and finding sub-sale condo now….

We as Penangites should freeze the market of new condo for 1 year and the price will drop!
I too believe soon new condo will be more expensive then sub-sale, both have pro and cons.
New condo will have more below 5% down payment, which suits new couples.

I think the best is to let economy takes its course. Over supply, then the price sure will drop. Then the developer will be quite for a while. This is what happened in Sri Hartamas area in KL, so many vacant units for sale/rent. Now no new condo launched already.

it is hard for it to happen as everyone know penang is also out of spaces soon…

@Wince
this mentality contributes what happened today….penang out of spaces, limited land and so on…seriously if you think carefully and check how many population penang have? penang’s density is not that high yet like hongkong and singapore where land is really like golds to them…don’t say silly things like land is limited, penang is just an island of course land will definitely limited la…but you need to see the fact, supply is more than demand now for properties….drive around you will see houses for sale, apartments for sale, condos for rent/sale…so does all those sub sales prices justified? definitely no, 500K++ for 1000sft condo is really too much to ask for…middle class are the main driving force in the market but most of them are just employees, how can they afford a 2k installments per month with 10% downpayments? primary prices of properties in penang are driven by misleading info like limited land and sub sales prices are driven by developer’s new project selling prices…people sure die lar like that…things will surely end one day because you could not expect this to continue forever even government failed to stop them, naturally the truth would be revealed themselves..the true prices of properties in penang if the whole market could not sustain…just a crisis will lead to domino’s effects on everyone…

@Wince
ya…thinking to get symphony park…..

symphony park also gone crazy already…

@jerry
Do you mind to advice what kind of mentality i should have?
Penang island land is not limited and the property price will be coming down soon because supply is more than demand?

Tambun Indah ad in newspaper and this coming Sunday have another round of function at Pearl City. If their sales for Straits Garden remain the same, then pretty sure the launching price is overprice for time being.

What kind of mentality? If you are looking for long-term own staying, just go ahead as long as the property fits for you, and financially affordable. Historically trend shown price will definitely goes up in the long-run so need not worry of short term potential havoc. However if you are looking for investment, then it is a different ball-game. Do not over-commit, and don’t be over kiasu as well. Choose carefully, only those matured location which have more proven subsale or rental market only can buy. Theworst things which can happen with a investment property are that you cannot sell unless with a loss, or cannot rent out. Positive cash flow is everything. ‘

If you are looking for property >=500k, areas you should consider are those along the coastline with seaview, bayan indah all the way to tg bungah. Areas such as Air itam, relau, teluk kumbar, sg ara you should avoid as no high rental market, mainly locals, no foreigners.

If you are targeting at 300k-500k range such as Sierra residence, i don’t think the return will be high. You can only flip to local and in this area there are plenty of choices.

If you are targeting <300k, then look for property around USM, these are always safer, such as n-park, u-height, u-place etc.

heard inside sources, sales response for straits garden very poor
lets see how the greedy developer going to sell ..
people are not stupid

@stk

Good investment strategy. The price might be higher than we think it should be now. Assuming you take 90% loan, rental market in Penang unlikely to generate positive cash flow if you buy now. It is still positive if you bought 4-5 years ago.

i don’t like the sf… 400sf & 600sf…. even medium low cost apartment bigger than this project..

tambun indah doesn’t do survey in penang island as they used to build in simpang ampat…hehehe

@ksgoh
I think Tambun Indah has made a good effort. Usually they are buying a piece of land like forest land, isolated land, farm land and etc. They will begin development in the area and will be followed by other developers. Only hope for Tambun Indah please do not use the word “HEIGHTS” title in name of Taman and luckly this development not use that title.

Tambun Indah will file for bankruptcy after its failure in Straits Garden!

@KC
how to go bankrupt? issue more shares then people buy and help them build this kind of big studio condo with so low of selling prices….clever people go and buy their projects lor…haha

@KC

Wah. You works scarry lar. I stay at 950sft condo only.

Come on guys, this project isn’t so bad except the sellng price. The smaller built-up is cater for those single working individual who do not need a bigger space. There is always a choice for everyone.

another problem is the title , under commercial title . Since this is service suites, its not and ideal place for home stay. But in terms of investment, I don’t think Penang ppl is ready to accept the concept of service suites yet. Jelutong is most seek place for rental for medium income ppl with its strategic location. So, we just need to wait and see..

i dont think we need service apartment in penang for now and this is yet the trend for penang people. this is more like people to char the price PSF.
we will have very good and reasonable price of 2nd hand aprtment … why service apparment with such a small sqf… furthermore Jelutong also not the hot location or attractive to me.

@ThinkThink
totally agree with u

hi guys, just came back from WismaPantai – Tambun Indah sales office.
If you doubt on the sales of this project, just visit WismaPantai and see their response.
Even without DEMO unit, already 50% sold.

@ProspectBuyer

Wondering how much is the booking fees and whether will be fully refund if cancel. If fully refund, then the actual sales might be much lesser.

but where else to get ~RM300K condo in Penang Island nowadays?
The quantum of the entry price is affordable for Engineers with few years experience that wants to own a unit in the island.

though if you get RM550/sq feet elsewhere and with a unit of 1000 sq feet, it will cost RM550K and higher maintenance fee too. And that is almost double from RM300K.

location is not ideal as got reclamed rubbish hill at 1 side of the area. But that is fact in land scarce area. Even Batu Maung area was deemed “not so perfect” 10 years ago. And now, look at SouthBay – which is also near rubbish collection point. =)

Maybe or maybe not, the rubbish hill in 5 yrs later will have more and more expensive condo nearby in the future.

My 2 cents to ponder.

@wbk
Booking Fee is RM5K
Refund is only RM4K (they will forfeit RM1K)
If you got rejected by 3 Banks, they will refund all – RM5K

Unit comes with 1 car park, fully furnished (2 aircons, fridge, washing mch, kitchen cabinet, sofa, tv console, tv and etc)

SPA is expected end of the year, completion period is end of 2015. Zero interest during construction period. And banks financing rate is BLR-2.4 (some up to BLR-2.6).
Only 3 panel banks ; Public, HongLeong and OCBC.

Waited there for 30mins before a sales person entertained me. Damn busy. And i saw lots of enquiries on Straits Garden than their other BWORTH projects.

oh by the way, they are removing the RM20K rebate soon-according to them.
I try to ask when is the exact removal date from sales person, and she avoided answering my question. I think it could be their sales tactic.

Maybe once they reach certain % sales of their unit, they will take the rebate away.

@ProspectBuyer

I think if they remove the rebate with only 50% booked, the sales will be stagnant lor. Is a big risk at this point. Should wait until 80%.

@wbk

all the nice view units/medium floor (585 + 610 sq feet) already booked/sold. Only left those 400sq feet units – i dont see any 1 took up those. Even those 411 sq feet is partially taken.
I wanted to buy now because i want to lock down the BLR-2.4 to BLR-2.6 financing package. Maybe when our Bank Negara cool down the market and bank started tightening, we wont see such attractive rate anymore.

Another point is if i wait till Demo units available, i wont have the choices to choose and RM20k rebate anymore.

On the other hand, like all said per sq feet is expensive and this is commercial. But if i
wait-and-buy rather than buy-and-wait, i will be in worse shape afterall. Im in dilemma now….

Any suggestions from readers here?

PS: I work in BayanLepas factory and married. Single room for me is okay. And this is furnished, so i can just pack my luggage and move in and stay. No renovation or buying electrical stuff and whatsoever. =) And bworth is not an option to me as i DO NOT want to stuck in jam in the morning and after work hours. I just cannot tolerate the JAM. I will go crazy. hehehe.

this is like a hotel, soon become motel and become red light district – pay per shot room

KC :Tambun Indah will file for bankruptcy after its failure in Straits Garden!

Do you think its that easy for the company to go bust when the both the boss children have MBA from highly reputable schools such as London Business School. The boss family may be low profile but that doesnt mean that bosses that flaunt their wealth in clubs every week are more cash rich.

What’s MBA got to do with it? So farny…..

will go to the property fair to see see. who wanna join me?
let see how Straits Garden’s promotion in the property fair this weekend…………….

Hi..may i know the price of A2 n the sqf?n the condo complete in what year?got any show units?

Any condo less than 700SF is actually a medium cost flat. I think Straits Garden should change its name to Bangala Garden or Indo Garden.

Remember the Emporium family. They are bankrupt now. Tambun Indah S/B of the Teh family will not survive cometh year 2020.

I went to the sales office in Tambun and I found out the following :-
The smallest unit of 404 sqft costing around RM300K is fully furnished with RM70K with RM10K of electrical items. If we minus off the renovation, it will be around 220K for a 400 sqft suite, RM550 per sqft. Some smaller corner units with 400+ sqft all snapped up and if I wait and see, I believe I will miss the boat again.

The showroom will be ready by end of May and I heard that they are withdrawing the RM20K this week. Gosh, I am dreadful of not signing up a unit yet. Still in the doldrums.

I just obtained my keys for my landed property and having headache of either renovate or just left it with simple lighting and fan. Cost of renovation has increased and I doubt I can renovate like the one I see in the showroom originally. My mistake is that now, I do not know whether to renovate for own use or rent it out. Renovation will cost me hundreds of thousand for a double storey house, that means more debt with the bank.

The straits garden comes with what we see, what we have concept. Even the renovation in every unit the same, I don’t really mind it because the flooring and everything is done, just like a hotel. There are including a television as well now.

The price of RM300K for 400 sqft and RM440K for a 600 sqft is indeed on a high side but we have to know that it is fully furnished which it will be a great ease of mind to those lazy bugs like me. Committing the price seems high but since the project is going to complete only in 2015 (heard is end of 2015), the second link, road widening and standard of living will be very different from now. Population will increase by another 1-2 percent, cars will increase by thousands and Laksa will cost more than RM5 in 2015-2016. By then, is RM300K for a 400 sqft really expensive ? Anyway, we do not have to pay any interest until completion.

I am really on the tip of an iceberg. Can anyone advice me, should this garden be a great investment or for own occupancy ?

how’s the respond? looks like tambun indah did it again…we are going for ‘shoebox’ trend now in penang…