Penang Property Talk

I see, mine is 17-07. So you bought 2 units of level 9 & 10? I think this is a good buy looking at Penang Properties price keep increasing since I can’t remember when, when I bought my last property 3 yrs ago and everyone keep telling me I’m stupid to buy it at x price but look at it now.The price never stop increasing, just the matter of increasing fast or slow.
@Queenie

Do u think Unit 7 and Unit 8 , 1200 sf is a bit small in size. Only 2 rooms + 1 Study room.

If according to sf it suppose to be big but somehow I don’t understand how it can only allocate 2 rooms and a study without door. Anyway, for me it’s just holiday home so it should be fine kut Bcos all I wanted was the seaview and the location. But if for own stay permanent house day to day, yes I do think it’s a bit small.
@Queenie

Anyone can share what’s the price different between Phase 1 and 2?

Is this property commercial or residential title?

@Penang Lang
Residential title

Any update on this project? How is the reclamation work going on? What’s the schedule?

If buy for investment, forget about it. Queensbay area too over supply and pricing there already hit the peak, no more appreciation. Future sure hard to get buyer / tenant, at least 3,000 of unit are my competitor. No value for investment purpose.

Hi Lol, you seem to be very familiar and knowledgable with prop.
Can you share more what is the best place for investment now, with value and why and places with room for appreciation.. will appreciate and thank you….

Any buyer who wish to know more bout queens residences u may

call / whatsapp me @

SK Ch’ng

It has been very quiet for this project after the phase 11 launched, what happen ?

Still any unit available?

Anyone receive SMS from Ideal to sign the SnP?

Hi all, last week I pass deposit 20k to sale person, he told me the deposit can refund if I want to quit the project any time before sign S&P. He say all IDEAL project can refund without question before S&P.
Is that true? How come IDEAL so confident or the sale person mislead me?
Please share your thought. thanks.

Yes, as long as u have not sign the SPA, they should refund u.
My 20K have been given 6 months ago and the cheque already expired already.

Just signed the SPA last week but the sales person told me, this project not approve yet. Ideal asking for 10% payment and return the 20k deposit cheque to me. They call this is Pre-SPA while waiting approval from State. Anyone sign the SPA too?

I just call to IDEAL PROPERTY GROUP CARELINE : +604-645 6888
Customer service staff told me, all deposit can fully refund without single question before SnP, this is IDEAL policy. Sound good and feel confidence to this company. Thanks for the good policy.

Ideal asking for 10% payment by cheque with dated 30/Nov. SPA & Loan Agreement will not send for stamping at this moment while waiting project approval. If failed, cheque will return accordingly. I’m surprise the project not approved yet. Anyone can try to ask and see what the sales person reply.

buyer913 :
I just call to IDEAL PROPERTY GROUP CARELINE : +604-645 6888
Customer service staff told me, all deposit can fully refund without single question before SnP, this is IDEAL policy. Sound good and feel confidence to this company. Thanks for the good policy.

Dude, nothing special, no need being too 大惊小怪
Many developers do the sameeeeeeeeeee

from now the state gov have to check properly.
is the plan approved by all department?
if not Hill land already fall, reclaim land tenggelam / flood

Many developers require banks loan reject letter, otherwise no full refund, please take note.

Few developers want you to give reason for cancellation if without loan rejection and need management approval.

Ideal is exempted on all cases as at now.

All above conditions apply on SnP not yet signed.

I think they worry about The Mezzo @ The Light.
They are trying to lock down purchaser.

It is not legal to ask buyer to pre-sign SPA and collect 10%.
Buyer have all the right not to sign and pay, until they obtain APDL.

The lawyer said the SPA will not go for stamping until IDEAL obtaion the approval (APDL) and the 10% will not going to bank in too. That why, they ask to put the cheque dated on 30/Nov and they believe IDEAL will obtain the approval very soon. Is it legal?

Is it the normal practise for developer to ask buyer to Pre-sign SPA? Looking for advice.

@Buyer 100

Normal lah dont worry.

@practical
Thanks for inputs

Queens Residences Phase 1 – estimated APDL to be out within Dec 2017 if everything goes smoothly. Phase 2 will be slightly later. Showroom available for viewing, those keen may contact/whatsapp me :
Ewen HP (Marketing Agent)
Tqvm

ES :
Queens Residences Phase 1 – estimated APDL to be out within Dec 2017 if everything goes smoothly. Phase 2 will be slightly later. Showroom available for viewing, those keen may contact/whatsapp me :
Ewen HP (Marketing Agent)
Tqvm

Construction duration is 36 or 48 mths ? That means completion date is 2020 or 2021. So late…

@BBB

Dear BBB,

Construction Duration is 48 Months from Your SnP date .
Still have Good Unit for Booking,

For More Info/ Showroom Viewing Appointment ,

U May Whatsapp / Call Me , SK Ch’ng
[ QUEEN RESIDENCES MARKETING AGENT ]

~ Thanks alot for your fully Support ya ~

GOOD NEWS !!!!

QUEEN RESIDENCES 2 END FINANCING OBTAINED !!!

For Those Already booked Q2 , Can now apply their loan

For Those Still Not Yet Place A Booking,

Now U Can Whatsapp / Call Me @ SK Ch’ng , Queen Residences Marketing Agent

Thanks a lot for your support ya

This is ridiculuous.. investor must really look at this carefully.. their project suck.. people bought a new property at 600k, but eventually only able to sell at 495k after completion. Strategic location, urgly outlook.. make the market price drop 100k. Take the risk to buy.. dare to loose… good luck buyer.

Queens Residences Phase 1 – estimated APDL to be out within Dec 2017 if everything goes smoothly.

Hi all, called from Ideal, project approved. SPA will start stamping on 15/Jan/18 onwards. Anyone received call from Ideal too. Looking for sharing.

Project APDL approved and now going to stamping Spa by next Mon onwards. Looking for sharing if u received the call from Ideal

GOOD NEWS !!! APDL START STAMPED d on 15 Jan 2018 For Phase 1,

So for Those still wish to Invest or Buy for Retirement home , u may Whatsapp or Contact me :
SK Ch’ng
[ Queen Residences Marketing Agent]

My Contact can get at Upstair Marketing Agents column

Hi Buyer,

Just sharing Bank interest rate.
Hong Leong Bank.
1-24 months BR + 0.37% p.a.
Thereafter BR + 0.52% p.a.

Anyone get better offer from others bank? Please share. Thanks.

Hi Buyer,

Any update for the project, looking for sharing?

Thanks

Latest update,
Bank disagree IDEAL SPA by put completion in 48months. To them, any project completion more than 36months must get approval from JPN (Jabatan Perumahan Negara). Now, the Bank asking IDEAL to provide approval letter from JPN for extended the completion period from 36months to 48months.
Looking for sharing from others buyer…

@NG

price from 805k ++, still have available units for booking

950sft
1000sft
1200sft
1400sft
1650sft

all size have also bro

u may whatsapp me so that i can sent u the sale chart

Hi, Keen in this project. Still have available units? can email sale chart?

any low costs or affordable units in Queen’s residence? as now all projects need to hv that right? so need to know where will it be ? thx

What’s the special promo now?

@Sk Ch’ng

Special Promo is Saving Interest part as Rebate for selected unit

@SK CH’NG
I’m interested. Can send me more info? Couldn’t find your no. in this page?

@Jay

Dear Jay,

What is your contact ? or U can Call / whatsapp me direct , MY contact can be found at above marketing agent column, thanks ya

GOOD NEWS & TIPS !!!

Queens Residense Phase 1 & 2 Estimated can be Completed by End 2020 Year

Pulau Jerejak Will Be Become New Attraction Theme Park Soon !!! A New Tourist Attraction Which Can Bring the Value Up in Future !!!

For Those Who Still wish to grab a unit here ,

Fast Call / Whatsapp me to View Our showroom

SK Ch’ng , My contact can be found @ Marketing Agent Column, Thanks ya

Hi SK CH’NG,

Whats the current offer and promotional packages?

heard that ideal property had sold off Q3 AND Q4 to another party, so they will only complete Q1 and Q2. in that case, the whole masterplan might be affected, such as who is going to build the small stadium and the sports centre.what about the access 6 lanes road? anyone got answer?

GOOD NEWS !!!

CRAZY OFFER NOW FOR QUEENS RESIDENCES @ QUEENSBAY !!!

NOW , U CAN GET A UNIT FROM RM 645K++ ONWARDS !!!

VERY WORTH TO BUY NOW !!!

NEW PACKAGE JUST LAUNCHED !!!

FOR MORE INFO / BOOKING ,

FAST WHATSAPP / CALL :

SK CH’NG

My Contact Number Can be found at above Marketing Agents Collumn, Thanks alot ya

When is the completion for Q1 &2 . Some said end 2022 , some end 2021 and end 2020. Good buy now ? See price drop and booking fee from 20K to 5K ?

i m lost too. when I first visited the showroom, the sales person told me this project will be ready end 2020, and mostly sold out, especially Q2. later, when I took my GF to visit again 1 month later, the other sales person told me it will be ready end 2021. (1 year delay). then, last week,when I took my parents to visit the showroom for the third times, another sales told me this project will be ready end 2022. WHAT….. (2 years delay). what is happening ??

my conclusion … those sales are from some agencies , so they do not really understand this project. SO… when you asked them, they just simply bla… bla… bla… USELESS AGENT.

for ideal project, be prepared for inferior quality product as they can produce low/medium cost housing only. never expect a low cost housing developer to build a good and nice high end condo for you. also, be prepared to face the gangster contractor when you move in , so never be happy when you got it cheap….. cheap thing will never be good because you have to compromise for the quality, service,depreciation ….

@lost
At the end , did you place the booking after 3rd visit ? Just wondering in SnP , 36 months or 48 month? I heard some buyer need to sign the consent letter to follow developer bank in booking date , instead of follow SNP date if want to enjoy the HOC.

@lossss, the completion date is 45 months from SnP, the buyer needs to sign a consent letter to follow developer bank in-date a few months later. You can enjoy interest-free for a few months also. Win-Win situation.

@lost
ideal is a good developer, give cheap n stayable housing for poor penang people. their projects are good but sometime come with quality problem. if u wan quality house, pls look for quality developer like E&O, IJM . they will not hav inhouse contractor.

Any whatsapp group for buyer Q2?

anymore seaview unit ? when Q3 open ?

why all seaview unit facing pulau jerejak ? why price drop so much ? cannot sell ??

@P_buyer

Q1 Estimated Completed End of 2020 , take key early of 2021

Q2 Estimated Completed End of 2021 , Take key Early of 2022

YES NOW IS REALLY GOOD BUY ,

BECAUSE We Giving HOC Discount , Under HOC Programme,

for Non Seaview Unit Booking is RM5K ONLY

for Seaview unit Booking is Rm 20k only

We Can make appointment for showroom viewing 1st , then only u decide later ,
Now is Really A Good Buy time if u compare this Waterfront project with sungai nibong , sungai ara & etc , coz psf also quite same the price

My name is SK CH’NG , My Contact @ Above Marketing Agents Column

Thanks alot for your fully Support

@lossss
finally, I have decided to book 1 unit , facing q’bay, cost around 700k. since I m working at bayan lepas FTZ, I think it is easy for me to get to work. (now staying at farlim).

my friend told me that the gangster contractor is actually not gangster, but just indoor contractor. if you let them do some renovation, then everything will be OK. their price is quite reasonable and unlike some bad comments. if you do not choose them as contractor, then just pay them some rubbish collector fee, which I think is quite reasonable.

@lost your friend too young or you are too young! hos many of your friends ald purchased idea projects and you get the right information. The currently just completed project one foresta, affordable house, you know how much sampah fees they collect? The fees are totally notnecessary because the jobs should be done by own contractors. Imagine how many units there how much extra they collecting. The practice of sampah fees only happened in Penang island (most area but not all) and not other places and states.

Also, the cements price are higher then outside and not reasonable. If they are not ganster, then they should give onwer to use own contractors without the sampah fees. I wonder why the ganster always like to bully chinese and poor people even the affordable projects. Authorities can’t do anythings. If you are from their side, sincerely hope you can think about it. we should helping each other instead of bullying the poor and citizen, right?

@ckII
what is your problem..??? if you can buy a 700k–1 mil condo,but you cannot pay the 500–1000 sampah fee, what a joke !!!

outside contractor also charge very expensive now, some even cut your throat if you did not make comparison . as long as the contractor behave themselves, what problem do you have ??

@lost

Can or cannot pay is not the main problem, the problem is about why need to pay the extra?

happy just buy, unhappy then go for other projects. I just bought one too, facing QB (where to find so cheap freehold project and comes with 2 side by side car park), even Triuni Residence also comes with tandem car park for the smallest size.

Just bought one under the HOC.

Very good deal

I just bought a unit too.Full unobstructed Seaview. I think it’s a perfect location with amenities easily accessible as well.

How many units left? Any idea?

@Brig
May I know what is d unit size and how much you paid for it?

@Brig
My budget only go for 950sqft facing QB mall.

@Brig
Not only the location but the concept of waterfront with marina cum commercial under, that is rare.

i bgt 1 too, better choose Q1 than Q2, bcos it is nearer to QB. also. wen Q1 ready , Q2 is almost done, so not so much of noise n dust. But, for Q2, some units facing Q3, will hav to bear the piling noise n dust. therefore, it is better to choose Q1.

my unit is semi sea view, better discount and looking towards penang bridge. there r a lot of units facing pulau jerejak, not a good view to me.

Hello everyone, i am new to here.

Hello everyone

Any fb group for Queens Residences?

Seems like hot selling and almost fully sold. No wonder my China client like to say Penang people hogiak… Then their buying ideas really totally different and make more senses. Just a one day trip and really learn a lot by listening 3rd party point of view, it’s clear and straight to the point. #pigs Property Insights Go Simple

Yes, pls check and send the request

Is there a FB group for q1 resident?

Pls search in FB.
Queens Residences (Q1 and Q2)

@Ownstay

hi, the group seem like not active and not much owner join in.

Pls follow, i will add u after verified u are buyers.
0ll-lll00720

Potential Buyer

Is it still worth to get 1 from this project?

now the cheapest unit 650K ?? worth to get a unit

Cheapest units are with afternoon sun. Facing north 700K+ onward, and sea view close to 1M onward.

Any issue on the reclamation land?

@Bryan, it would be impossible for us to know whether there is any issue on the reclamation land right now. Time will tell… But I believe many people had considered this project because of the strategic location, future aspect and QW marina.

I feel it is rather expensive to get a 2 bedroom for nearly 900k.. with the current unknown virus outbreak, not sure we can still survive through. Keep our money and see how.. there is always new project around.

Beautiful project.Eagerly waiting for the completion.Indeed very Excited!Its a dream come true.

Hi! Does anyone know, from the 23rd floor (top floor) of Queens Residences Q2, what will the view be? Without tilting the head downwards, can a person see the water or only Pulau Jerejak and the sky?

@G2020
You may pay a visit to their on site show room which locates on Q1 7th floor sea view unit.
BY appointment only.
.

you may cry if u bought for seaview purpose, coz in future fully blocked by new development, which is reclaim land. same thing happened at tropicana bay block by quaywest, and quaywest blocked by future reclaim land project.

Heng :
is a good project.

Thanks Ranee! I’m a purchaser, and I’ve visited the on-site showroom already. I was wondering whether my unit on the 23rd floor would be able to see the water or not. However, I’ve calculated that, 100m above sea level (expected height of 23rd floor), with a human eye lower vision field of 70 degrees, it would be possible to see the water in between Penang and Pulau Jerejak (which is 1km away). However, even at the 23rd floor, it would not be possible to see “over” Pulau Jerejak as its highest point is around 200m. Another tip is to consider furniture placement carefully. When you are seated on the sofa or being on your bed (which are both seat against a wall), you are not looking straight out the window but at an angle. For some units, it may be better to flip your furniture arrangement so that you get a better/unobstructed view when seated on the sofa or being in bed.

Is it a good time to enter at this time? Seaview units are selling at around RM900psf. Plus, Ivory is planning to build another 1000unit service apartment nearby. Traffic congestion will be an issue?

that place is super traffic jam when comes to weekend especially Dec year end holiday. @QR

It’s a very bad idea to buy this property.

First of all, why would anyone want to live at the waterfront? Isn’t it better to live amongst other high rise apartments where you can look into other apartment units? This way, you feel more connected to other people. This is so much better than looking at an untouched island, the blue water and the sky.

Secondly, it makes no sense to live next to one of the largest shopping malls in Penang. You see, you bought a car for a reason right? You would not be maximizing the value of your car if you don’t drive at least 20 minutes to a shopping mall. Also, you won’t achieve the “family outing” feeling if it is so convenient to go to the mall.

Thirdly, do you really think you will enjoy using the infinity pool with uninterrupted views of the water? I mean you are already *in the water*, duh, why do you also need to see more water? So much better to have a swimming pool near the city center where the soundtrack of city life (e.g. cars honking) can be better appreciated.

Lastly, why do you want a marina and food and beverage waterfront promenade concept at your doorstep? It is too luxurious! I mean do you really want other people to say that you are so spoilt that you can just take the lift down from your condo and enjoy a Frappuccino ice blended? What happened to hard work and perseverance? People, we were not put on this Earth to enjoy ourselves!

@G2020
pls be reminded to take your daily dosage.

Alamak. So you really didn’t get it? Read again.

@G2020
Any reason why you chose Q2 over Q1?

@QR

Some reasons I selected Q2:

– Lower density in the development (500 vs 450) for very similar land size as well as lower density per floor (Q2 has more floors)

– 1200sq ft “-07” and “-08” units in Q2 have better sea views (less obstructed by other units); however, for 1400sq ft units, the Q1 “-08” units have the best views for both front and side

– Pool in Q2 is more impressive: it is larger and has unobstructed views, being at the edge of the building

– Developer/contractor can improve Q2 based on lessons learned in Q1

This project still selling at 1000+ psf? Not sure if it is a good idea to buy now during COVID especially at that price, we are on global recession soon. Btw, heard there is a rooftop at highest level? This is a private rooftop anyone know and how big is it?

@QR

I think the facilities are very similar. You can see the website here. Why not speak to a property agent or visit the Ideal showroom?

https://www.idealproperty.com.my/project/queens-residences-q1/

https://www.idealproperty.com.my/project/queens-residences-q2/

Advantages of Q1 over Q2:
– Faster completion (and therefore safer investment)
– Closer walking distance to Queensbay
– Some units might better; for example, west facing units that face the to-be-built serviced residences may be protected from afternoon sun

@Looking around

It is expensive per square foot, no doubt. I am buying for personal stay, so financial returns are less of a consideration. I might think twice if buying for investment. Some people say that for such prices, better invest in the North. However, there will be some wealthy people who want to stay in this area, and this is at the moment the only premium apartment building in South of Penang. Prices per square feet are higher than Putra Marine, but the units are large, so those start from RM 1.2 million, but I’d rather have a smaller, and higher-spec unit in Queens Residences. Putra Marine has risen in value, but when constructed, it was not a luxury development, so the material and facilities are not the same level.

@QR
Queens Waterfront is not fully develop yet, the price surely will rise in the future for Queens because the seaview will always be there. Unlike some other seaview projects, mostly have plans or already reclaiming the land right in front of them – sorry for seaview unit buyer. But there is not much space between Jerejak island and Queens waterfront, that;s why they will not reclaim there. Jerejak Island will develop though. Contact me if you want view showroom, I can provide more information. Cheapest unit starts from 750k+.

@Looking around
They are selling at around 750-800psft for some units.

@QR
Queens Waterfront is not fully develop yet, the price surely will rise in the future for Queens because the seaview will always be there. Unlike some other seaview projects, mostly have plans or already reclaiming the land right in front of them, sorry for seaview unit buyer. But there is not much space between Jerejak island and Queens waterfront, that’s why they will not reclaim there. Jerejak Island will develop though.

@G2020
I see, so what you’re saying is “It is expensive per square foot, no doubt.”, and not a good buy for investment. I strongly agree with you.

@QR
Haha, you are right. Seaview is around 800+ psft hehe. But also considered one of the cheapest confirmed seaview you can get around. Many seaview condos only promising in the first 10-20 years.

@teoh

It is expensive per square foot, just as Rolex watches are expensive. Whether it is worth the price is a bit more subjective. When I said I would “think twice” as an investment, I meant it literally. I meant I would think carefully, I didn’t mean that I would avoid it.

Especially for personal stay, the reality is that the proposition is very attractive. It’s not just next to a major mall. It’s not just on the waterfront. It’s both, and the sum is more than the individual parts. Also, waterfront is not the same as sea view. Waterfront means you are directly in front of the water, not even having a road between you and the water (in the case of Queens Residences, I guess technically there is a pedestrian promenade). There aren’t a lot of waterfront apartments in Penang. Also there are very few premium apartments where you can walk to a major shopping mall. If this were to be in Sydney and Melbourne, I cannot imagine what the price would be!

@QR

Queens Residences is on the waterfront and is within walking distance to Queensbay Mall. Quaywest has sea view, but is not on the waterfront, and it is more likely to lose its view to future reclamation works. It is not really realistic to walk from Quaywest to Queens Residences. Queens Residences is also freehold and residential title (not sure about Quaywest). Queens Residences does not have affordable housing integrated into the development; Quaywest does.

Can you tell us a bit about your views too? Did you buy or past over Queens and QuayWest?

@G2020
Hahaha, the way you hard sell it, it definitely does not sound like “you’re buying for own stay”. But anyway, to be honest, based on pass experience, a “luxury” property located next to a shopping mall in Penang almost never ended up being sought after. If at all a condo adjacent to a mall is valuable, it is due to other reasons rather than the location. However, a medium cost condo/apartment located near a mall is always popular as it can easily be rented out to those people working at the mall, therefore a good investment.

@G2020
Projects I have viewed so far:
Triuni – Poor transport connectivity, dual key concept with tandem car park (heck don’t know what they are thinking)

Zen 6 – Small hallway, low cost design floorplan, afforable units next tower makes it comparably much expensive, high density per tower. PWC wholly sold to Hemat who?

Muze (PICC) – no comment. don’t like the location.

Quaywest – not much choices (units) left to be considered. So far the masterplan do not show there will be reclaimation work at the seaside directly infront of Quaywest. Commercial title, but no commercial lot below. Nice floor tiles.

Queens Residences – QB mall within walking distance, traffic congestion after completion is a concern. If the sports center having weekly event it will be even worse. Sales person claimed there won’t be any future reclaimation work, but who can guarantee? I know there will be a marina there, government can just compensate and move the marina further out and give right to reclaim to any developer willing to pay the price.

Waterside residence – ghost town? Basically nothing there, yet.

@QR
I had similar situation as you at end of last year.
End up I took Queens cos Ideal slashed price from 800k to 600k plus for smaller units.
During that time there was also having HOC package.
Till today no regret on my decision.

@teoh

I’m buying for own stay / holiday home. Of course Queens Residences has disadvantages too such as (a) relatively high density (and full maximization of plot size), (b) wide range of pricing (RM 650k – RM 2m) leaving a possible question mark on the quality of the overall development and common facilities, (c) not in a true premium area like Seri Tanjung Pinang and (d) as QR said above, might suffer from congestion due to the proposed sports center.

Do you have a theory on why luxury apartments near malls tend not to do well? Do you think because it is not considered exclusive enough, being near a big mall? For me, Queens Residences is not in the luxury category but is below that, in the “premium” category.

I would have gone for Gurney Paragon or other supercondos near Gurney Plaza but unfortunately the prices there are too high for me. I wonder if the reason for the low demand that you mentioned relating to luxury properties near malls is the size and price of the units, taking the supercondos near Gurney Drive as an example. (There aren’t many other other examples?)

In Kuala Lumpur, the equivalent might be Pavilion Residences (expensive but successful) and Four Seasons Residences (RM 3 million for 1,000 sq ft)

Overseas, I think luxury / premium city center condos are highly sought after, even when they don’t benefit form being simultaneously on the waterfront. In Sydney, the Park Hyatt Sydney is an incredibly successful and expensive hotel because it is in the city centre and is at the waterfront, facing the Sydney Opera House.

@QR

Thanks for your thoughts and analysis. I agree the sports center is a bit of a red flag. Hopefully the additional roads that they build will somewhat alleviate the issue. Maybe the sports center will not be built for another 10 years? You are right that no one can guarantee future reclamation work in front of Queens Residences but I think the likelihood is low. Firstly, there will hopefully be a popular waterfront promenade there (enjoyed by the public), and they are building the marina there. Secondly, the government appears to be claiming land immediately south and adjoining Queens Residences. They are claiming almost exactly as much further out to the water as Queens Residences. The shape will be odd if they claim further in front of Queens Residences. https://www.penangpropertytalk.com/2020/07/linear-waterfront/

On Quaywest – I believe there are affordable units in the development. I am not sure whether the facilities are shared or not.

Zen 6 – can you elaborate on what do you mean by “low cost design floorplan’? Are you referring to things like the kitchen window facing the corridor? What other red flags should I look for?

@Jensen
Are you sure full seaview unit only RM800+ psf? I think full seaview unit only for those 1400 sqft and above units? I was quoted nearly RM1200 psf for those though.

@G2020
Quaywest – Yes there are affordable units for that project, some even without car park so night time will have a lot of cars parking at the road side. Facilities are not shared. Commercial rate for assessment.

Zen 6 – Small living room & dining area make it seems like LMC flat.

@Looking around
RM800+ psf is side seaview, means you will have to turn your sight about 45° to see the sea water.

@G2020
So when I said “a luxury property located next to a shopping mall in Penang almost never ended up being sought after”, I meant if you were to compare luxury condos next to a mall vs one far away from a mall (eg. tanjung bunga), there is almost no difference in demand, therefore drawing the conclusion that being adjacent to a mall does not give a condo any premium in terms of value.

And when you said “Queens Residences is not in the luxury category but is below that”, then the price tag of RM1000psf average certainly does not reflect that, in other words, overpriced?

And my friend, don’t talk about what Sydney lah, what Opera House lah, and Pavillion lah, they are all irrelevant lah. This is Penang, a small town in Boleh land where roads are full of potholes.

@teoh

It isn’t luxury in the sense that the development is dense and the unit is small. It would be luxury if it was RM 1000psf but the unit sizes are 2500 sq ft and above, for example. In my mind anyway….

@QR

Thanks for your thoughts.

I remember MBI wanted to acquire Ideal, Guess that didn’t happen as MBI boss on the run Liao? 😀 Why Ideal wanted to sell this project to MBI in the first place though. How strong Ideal as a company? Don’t want later the developer cao Lor…Cham!! LOL

@G2020
If you have a choice to choose between Queens vs Setia V at Gurney…assuming at the same price, which one will you choose. Sorry if the question sounded a bit dumb. 😀

@teoh
Why sounded so agitated? Cool lah…luxury or not is subjective lah…like me staying in cheap and small flat…to me, Queens is already Super luxury but to some people, it is not lah…depends on what one perceive as luxury.
To me, to be able to eat hawker food is luxury compare to fine dining…again, sorry for the dumb analogy. Chill… 😉

@Looking around

Do you mean total price (not price per sq ft)? If total price, of course Setia V!

@Looking around

I think Setia V units are at least 2500 sq ft, and some of the units have private pools attached. So if they cost the same amount as Queens Residences, I would certainly go for Setia V.

@Looking around
Agitated? You mean this –> “And my friend, don’t talk about what Sydney lah, what Opera House lah, and Pavillion lah, they are all irrelevant lah. This is Penang, a small town in Boleh land where roads are full of potholes.”???

Of course agitated lah! Hahaha…you have any idea how many potholes and bumps we have to drive over everyday in our short drive from Pulau Tikus to Georgetown?? It’s a serious embarrassment whenever I have to bring friends from out-a-town around sightseeing in Georgetown, not to mention the safety hazard for the many motorcyclists in PG.

@G2020
Ohh, then no need to see already…can’t afford! lol

For real SPA name owners, if u wish to join our Queens Residences’s WhatsApp group.
Pls whatsapp to ol2-4l84834

@teoh
Haha, always take the positive lah…with the potholes, it actually train you to be a better driver/rider. Although small, Penang is renowned globally leh, that’s why a lot of gwai lo wants to retire here.

@QR
Ohh, what they call part seaview, not full seaview…but seaview at night very dark leh…at night city view is better but that’s just my personal opinion lah

@Ownstay
Meaning only for those Queens owner right?

want but buy, dont want buy dont kap

If same price I’d go for Queens for the view, Setia V for the location

Be careful of this developer esp. if you are buying 100% cash. They have a few ongoing legal cases involving multiple transactions on the same units (i.e. selling the same unit a few times to different buyers). Very ungrateful developer …father and son team…..if don’t believe, check with people in legal industry.

@truth, I don’t think its going to happen whereby many buyers are paying for the same unit, not to mention this purchasing process need to witness & approved by bankers, lawyers and stamp duty waiver for MOT. Your point of view does not make sense. By the way, I’m the purchaser for this project too and proper documentation had been prepared, approved and also certified by their external auditor.

Reading back at all these comments. It was fully sold out back in 2017? How come now people still get to buy? And why the prices has gone down so much?

The price didn’t drop, and those units that are sold out in 2017 are mostly 950sqft units. If you’re looking for bigger size, 1000sf onwards still available.

@Laura
Just left few units available for phase 1&2 only.
Any idea on phase 3 launching date? Possibly this year?

Can :
@Laura
Just left few units available for phase 1&2 only.
Any idea on phase 3 launching date? Possibly this year?

Still plenty of unsold units. Not much different when last view on CNY last year vs. last mth visit to Ideal Sales Gallery. Normally price will maintain but after construction is finish, we will see new special discounted package.

QR :
Mind to share what makes you think that there will be more discount after completion? As far as I know price will appreciate after completion.
And I heard they are launching phase 3 this year.
Tq.

Mind to tell us why the price will appreciate after completion? Any projects that completed in the last 3 yrs got price appreciate? I am asking about actual sub sale transaction price not asking price. TQ.

@Tim
I see. I paid a visit yesterday. Not much unit available & choice to choose. All sold out. Few units left only. We decide to wait for phase 3 instead. Hopefully the price won’t increase much.

@TR
Actually if you look around on current market, actual value transaction VS asking price not tally. Got value & no market as of now. Anyway, property is a long term investment project.

Nowadays, all sold out does not mean price appreciation as you have a lot of purchasers out there buying for investments, and not for own stay. The factor that keeps price from appreciating is
(1) market sentiment (which is bad, and will be worse)
(2) you will see many owners desperate to sell after completion (bad for price appreciation)
(3) rental market is ridiculously bad, which makes situation worse.

A good example is The Tamarind by E&O. In spite of almost all sold out before OC, the resale price after OC was terrible with many owners selling at a lost, and rental was the worst I have ever seen in recent history compared to the price owners paid when buying (meaning the rental yield was super low).

Also, Ideal has the habit of keeping a lot of units for itself, so the so-called “almost sold out” does not reflect the actual market demand at all.

If you are still thinking of buying properties for investment, then God bless you. Based on PG state policy and market situation, your chances of making money out of property investment would be as high as the chances of Dr M becoming the PM for the 3rd time. Well, you make your own judgement.

Can :
@TR
Actually if you look around on current market, actual value transaction VS asking price not tally. Got value & no market as of now. Anyway, property is a long term investment project.

I do agree all property is for long term investment. Current market is a sure no for short term flipper. Latest housing loan is about 2.9% PA. If I hold this property 10 yrs, do you think this property can appreciate more than bank interest cost? Unless one is paying by cash then shouldn’t be a problem for investment.

@TR
I believe it is the same whether you take a mortgage loan or buy with cash. You have to pay 2.9% interest if you take loan, but you also have to forego a 2.5% pa fixed deposit interest if you buy with cash. Even worse for cash buyer, the opportunity cost could be higher as you might be able to make 10-20% pa from stock market with that cash, instead of having your money sitting idle with that property.

In summary, property is the worst investment. DON’T BUY!

@fiona
@Bing
Good advice. Thank you! I believe the worst yet to come.

All dont buy, go back home sleep and sweet dreams

@TR

Absolutely agree. New launches/phases by developer will be priced higher than their previously completed project but that is primary market. As an investor you want to make money from secondary market and from what i see, prices in subsale market is weak. Gone are the days for flippers to flip their property at high price after completion.