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Ideal Venice Residency

ideal-venice-residency

Ideal Venice Residency, the second phase of PR1MA affordable housing development by Ideal Property Group at Island Glades. Strategically located near the intersection of Jalan Bukit Gambir and Jalan Lembah, next to Ideal Residency. It’s just a stone’s throw away from University Science Malaysia (USM), about 5 minutes drive to Penang Bridge.

This development comprises two blocks 46-storey residential towers, featuring 1,632 affordable housing units with six levels of car parking podiums and two levels of facilities.  They are two different layout types with a standard built-up size of 850 sq.ft. Indicative price starts from RM300,000 onwards.

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name: Ideal Venice Residency
Location :
 Island Glades, Penang
Property Type : Affordable housing
Built-up Area: 850 sq.ft.
Total Units: 1,632
Indicative Price : RM300,000
Developer : Ideal Capital Venture Sdn. Bhd. (Ideal Property Group)

Register your interest here

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.
LOCATION MAP

 

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  1. Tan Meiyi
    January 24th, 2022 at 13:50 | #1

    is this same project as ideal residency ? how to apply for affordable house for this project ?

  2. Lin
    January 25th, 2022 at 13:21 | #2

    Anyone have further details for this project? Is it worth for investment? Thanks ya!

  3. Ice Kacang
    January 25th, 2022 at 23:06 | #3

    Now everyone can stay Venice in Penang, thank you Idealah

  4. Sing
    January 26th, 2022 at 01:37 | #4

    @Ice Kacang

    Now got Santorini and Venice, next waiting for Hawaii, Paris, London, Bangkok, Tokyo, etc…

  5. Chendol
    January 26th, 2022 at 07:43 | #5

    @Sing
    I want Barcelona affordable house or Milan affordable house.
    Thank you Ideal to deliver a great quality of affordable house as usual. Looking for more great project up coming specially PIX.

  6. Bak kut teh
    January 26th, 2022 at 15:14 | #6

    Is is better than previous phase Ideal Residency in terms of layout & view ?

  7. Xoxo
    January 30th, 2022 at 00:01 | #7

    More high dense compare to ideal residency @Bak kut teh

  8. Chendol
    January 30th, 2022 at 07:16 | #8

    Xoxo :
    More high dense compare to ideal residency @Bak kut teh

    Affordable house still want to see density. Actually this project consider cheap & big already if compare to SP cheliah.

  9. Sing
    January 30th, 2022 at 23:08 | #9

    @Bak kut teh

    Venice layout type B is good.

  10. Nixon
    January 31st, 2022 at 12:31 | #10

    Anyone who bought seaview units at Ideal Residency are screwed by this project, no more seaview but instead you get twin tower view..

  11. jack
    January 31st, 2022 at 19:32 | #11

    Nixon :
    Anyone who bought seaview units at Ideal Residency are screwed by this project, no more seaview but instead you get twin tower view..

    Good things won’t last forever, especially seaview units in Penang 😀

  12. Sea
    February 1st, 2022 at 07:39 | #12

    @jack
    Unless you pick an unblock seafront project like Quayside, 1 Tanjung, The cove/10 Island/The light city or Queens waterfront residence with premium price. If you expect this project with this seaview please forget it.

  13. Max
    February 1st, 2022 at 10:23 | #13

    This project is worth to invest? I think the location consider good since it is located at the center of penang. Type B layout also seems not bad bcz having privacy at the entrance.

  14. Sea
    February 1st, 2022 at 13:26 | #14

    @Max
    Personally, i think the density quite high for this project not to mention for Ideal residency yet. How many unit total actually? And the accessibility/traffic congested really a concern once all these project completed. Those 300k are under affordable house catergory. If invest open market for public i guess will be 400k & above same as I-Santorini. If 400k above how much to sell in this location in future? 500k with 850sqf? And we have so many similar product unit surrounding this area. Just my personal thoughts.

  15. jack
    February 1st, 2022 at 14:34 | #15

    @Sea
    Can see Penang is going into this direction already, truly seaside view is for the riches.

    @Max
    Penang properties especially in Penang island are hardly invest-able anymore. If you rent, your rental collection can’t even cover loan installment, can only subsidize. If you buy to sell, good luck, many developers creating virtual demand and later sell at the same price you bought after getting keys, you will be competing with the developers unsold units.

  16. serena
    February 1st, 2022 at 18:40 | #16

    This is a Pr1ma project, not the usual affordable, so be careful. Also, with 7 lifts serving 22 units per floor at a total of 800+ units per block, there will be a “traffic jam” at the lifts during peak hours of going to and coming back from work, given the composition of residents here will mostly be working people around Bayan Lepas area. And last but not least, too many high density apartments in an area with mostly working class residents will definitely result in traffic jam, no doubt.

  17. Aunty Seow
    February 3rd, 2022 at 07:20 | #17

    420k-1cp, 453k-2cp (tandem), 473k-2cp (side-by-side). Only Tower 2B open for registration and ETA completion is 2026. 420k nd 453k variants only available at less desirable units such as underneath the viewing decks, around the waterpump, beneath the top floor (water tank maybe?), and near the facilities. The rest are charged a flat rate of 473k.

  18. Andy
    February 4th, 2022 at 15:43 | #18

    Wow… Pr1ma house at 473k ! This is called ‘affordable house’ on Penang island… more expensive than kl Pr1ma… speechless.

  19. Jamy
    February 4th, 2022 at 18:09 | #19

    @Andy

    Agree, nowadays Ideal affordable projects. can say more than half are public units which cost 400K above, near to 500 psf, not really affordable lol.

  20. mark
    February 5th, 2022 at 07:50 | #20

    @Jamy
    How can the state gov allow that to happen? I was told if developer build “affordable house”, they pay less development charges to state gov, and they get higher plot ratio to build more units. But if the “affordable house” are being sold to open public at non affordable market prices, essentially that means they are cheating!!!!! And the state gov just let that happen??????

  21. parmeswary
    February 9th, 2022 at 10:06 | #21

    I’m interested, how is the purchase process.
    how to apply for affordable house for this project ?

  22. James Tay
    February 21st, 2022 at 10:19 | #22

    there is another block C not stated in the plan which is almost fully booked except those unfavorable units left over (see aunty seow’s comment).

  23. Thomas Chuah
    February 25th, 2022 at 16:20 | #23

    @mark
    No money to buy then dont talk cock here.

  24. EK Tan
    February 25th, 2022 at 21:06 | #24

    @mark
    Ideal is the best developer for affordable house.
    You can compare between other developer. It’s great in facilities & spacious unit.
    Imperial Grande is a good example. And now recently they switch towards luxury development..

  25. Max
    February 25th, 2022 at 23:30 | #25

    Be careful what you wish for, just like what Ideal’s Google Review says

  26. Max
    February 25th, 2022 at 23:32 | #26

    @EK Tan
    Are you working for Ideal? Because clearly you have not read their Google Reviews online.

  27. jack
    February 26th, 2022 at 13:07 | #27

    If EK Tan compares Ideal projects with the Rise collections projects only, then the statement is true lah

  28. Gilian
    February 26th, 2022 at 14:03 | #28

    @jack
    Not only The Rise. The stone also one of the project..& plenty more.

    Don’t just google review. Go & see the actual unit & consider.

    @Max
    You should digest what google give to you. Go and see actual unit. If that’s the case you’re right then all buyers are consider blind because they knew poor quality but still buying?
    Some review in google are given by their own developer staff or haters also. Let’s check the actual unit of their past history record then personal judge but not from others. Even if you go for branded developer that’s not perfect. Non of property is perfect. Even you paid a million property doesn’t guarantee your satisfaction upon received goods.

  29. Max
    February 26th, 2022 at 15:04 | #29

    @Gilian
    I don’t think all developers are perfect but sometimes, reviews tell a lot of story especially when the good reviews are not really about the units after being built. Some people might consider Ideal because it’s cheaper than the rest.

  30. jt
    April 6th, 2022 at 11:26 | #30

    This area is Gelugor, please kindly change the info. Thanks.

  31. Geetha
    April 7th, 2022 at 08:29 | #31

    Hi, i’m first home buyer. Need some advice, do u think this would be a better place to buy? Im quite confused on which one to buy. I like the venice but the density is high. In future will this be a better place for investment.
    And need some review on the terraces too.

    Thank you. Please give suggestion yeah

  32. Honey Khoo
    April 7th, 2022 at 08:36 | #32

    May I know how many carpark bay provided?

  33. GV
    April 7th, 2022 at 09:29 | #33

    my personal view the type A layout not so nice due to the toilet facing bed, But type B is nice. Location very good also, just this project is next to ideal residency mean future surrounding will full of illegal park. Plus future have fly over beside it also.

  34. Geetha
    April 7th, 2022 at 09:35 | #34

    @GV
    Thank you GV. How about The terraces and grace harmony please

  35. Tailo
    April 7th, 2022 at 12:34 | #35

    @Geetha
    You want cheap & big. And also good for own stay & also for investment. FYI. Non of project are perfect. Even the project is perfect but the price probably beyond your reach also.
    It’s all depend on your preference. Some people mention paya terubong is good to buy but for other perhaps is a poor location. Depend on you actually. Set your own expectation & criteria & budget then go for it. That’s all. All project got pro & cons. If for myself i definitely won’t go for this area as i stay in town. So it depends… Usually if affordable house you can get 2 carparks then consider ok already with proper brand of developer.

  36. Chee Eng
    April 7th, 2022 at 12:40 | #36

    @Geetha
    For me i will go for Grace harmony as easy accessibility & much strategy location. Location will define your future appreciation price..
    Terrace, you may get a bigger space cozy environment as nearby mountain side. But poor accessibility with leasehold.

  37. Geetha
    April 7th, 2022 at 12:54 | #37

    @Chee Eng
    Thank you so much for the info Chee Eng. If compare between Venice and Grace which one is good to by?

  38. Chee Eng
    April 7th, 2022 at 19:47 | #38

    @Geetha
    I will go for grace harmony as lower density & if afford try to grab for 2 cp units. And easily to sell off also if come to subsale. Currently even a non furnish house in that area fetch about 300k to 400k for 650 to 700sqf unit subsale.
    Venice is good because by branded developer compare to Nova land small developer. Facilities for Venice will be better off course but accessibility & density & amenities will be minus point in that area.

  39. Geetha
    April 8th, 2022 at 09:50 | #39

    @Chee Eng Ok. Thank you so much Chee Eng.

  40. GV
    April 8th, 2022 at 10:32 | #40

    For me :
    The terraces
    – layout is very perfect big master bed room and living room
    – some got 3CP.
    – Near INTI and USM
    – very convenient to access to bayan baru and relau.
    * this not my choice to choose this due to some facing relau cemetery but my recommendation facing hill side better. .
    * Lease hold

    Grace harmony
    – The location is very strategy and very convenient too to access to town area.
    – The view also excellent if you like the city view.
    – High possible and potential for rent out/ subsale.
    * The toilet facing master bedroom.(But is not a big problem.)
    * high density.

    Is depend on your self which unit you prefer and like. Is hard to find a project that 100% perfect. The most important thing is which location, layout you like and where you work at. (For own stay)

  41. Jamess
    April 8th, 2022 at 12:47 | #41

    @GV

    Grace Harmony is also leasehold is not mistaken.

    Terraces maintenance fee will be higher due to low density.

  42. GV
    April 8th, 2022 at 12:53 | #42

    @Jamess
    Ya.is lease hold.

    Is depend on the person which environment they like,

    Grace Harmony is more happening
    Terrances is more peaceful

  43. JustinLeong
    June 3rd, 2022 at 14:02 | #43

    Where is the affordable unit launch? Almost half a year since the project launch. But developer close the affordable units??? Keep for executive’s relative? Or keep for makan duit???

  44. JustinLeongg
    June 4th, 2022 at 17:25 | #44

    Where is the affordable unit launch? Almost half a year since the project launch. But developer close the affordable units??? Keep for executive’s relative? Or keep for makan duit???

  45. JustinLeong99
    June 4th, 2022 at 17:26 | #45

    When is the affordable unit launch? Almost half a year already, since the project launch. But developer close the affordable units??? Keep for executive’s relative? Or keep for makan duit??? Hello?

  46. ThePotato
    June 6th, 2022 at 17:45 | #46

    @GV

    wawawewa!

  47. ONG SEE LOON
    June 10th, 2022 at 09:55 | #47

    Kindly let me know where to apply or buy .

  48. JustinLeong
    June 12th, 2022 at 09:59 | #48

    No need to buy d. All the state unit is closed until their relatives and makan-duits is done. For the time being, go buy the overpriced 470k Pr1ma project for 850 sqft condo.

  49. Zen6
    June 12th, 2022 at 13:27 | #49

    @JustinLeong
    This is not overprice project. Soon all unit will go up to 500k+ due to material price & others increased. Overall new project expected to increase by 20% at least.
    Better to grab or book first then waiting for boat to go away again. And also if you able to get state government house with 300k please don’t expect with quality finishing & expect chapalang neighborhood. What you pay that’s what you get.

  50. Zen 6 Resident
    June 14th, 2022 at 10:47 | #50

    @JustinLeong
    Zen6 is the best development. Go grab go grab

  51. Quaywest
    June 15th, 2022 at 13:23 | #51

    @Zen 6 Resident
    Zen6 is good for 1st time home buyer too as similar like affordable house with better location.

  52. Apple
    July 7th, 2022 at 11:09 | #52

    Would like to know if anyone has successfully applied the state government units?

  53. Alexander
    July 11th, 2022 at 17:14 | #53

    @Apple
    I have been waiting for so long for the state unit. In the end I go for Public unit 473k.

  54. Brian
    July 12th, 2022 at 12:02 | #54

    @Apple
    Yes but not this project. I got the project beside Venice, which is Ideal Residency. But at the end also top up to get another carpark. Sigh

  55. Brian
    July 12th, 2022 at 13:48 | #55

    @Brian
    How much bro after top up? And what is total cost for your unit?
    Actually i’m looking for 1 unit also since house all price increase even affordable house. Worry about 300k house quality also.

  56. ThePotato
    July 12th, 2022 at 15:46 | #56

    300K can buy mercedes, I prefer mercedes

  57. Brian Again
    July 12th, 2022 at 16:44 | #57

    @Brian
    After top up and total cost is the same, 403k. But my layout is Type A (Upgraded Unit) with 2 carparks side by side, same with Venice Type A. 300k is original unit price without yard and planter area. Plus the units facing not so nice la, direct sun which I scared in future will cost high a/c fees.

  58. QY
    July 12th, 2022 at 16:48 | #58

    @Brian Again
    When is the project completion date for ideal residency?

  59. Brian Again
    July 12th, 2022 at 17:00 | #59

    @QY
    End of 2024. But I expect first quarter of 2025 only can get the key ba. Since my SPA give them til end of 2025, so..

  60. QY
    July 12th, 2022 at 18:19 | #60

    @Brian Again

    Okok thanks for the info. Cuz i also wait state unit ideal venice residency until cannot wait d. January launch until now state unit not open. Thinking maybe just go for Public Unit.

  61. ThePotato
    July 12th, 2022 at 21:26 | #61

    QY :
    @Brian Again
    Okok thanks for the info. Cuz i also wait state unit ideal venice residency until cannot wait d. January launch until now state unit not open. Thinking maybe just go for Public Unit.

    don’t give up
    keep waiting keep it up

  62. Apple
    July 13th, 2022 at 02:54 | #62

    Thanks all for sharing the info

  63. Apple
    July 13th, 2022 at 03:01 | #63

    @QY
    Did u apply it at komtar? I have submitted my application at komtar a month ago with an official letter stated the wish to apply this project (the gov officer asked me to write the letter). But I did not receive any news until now. It’s weird though as one of the property agent told that the package for state unit is not ready but another agent asked to submit form at komtar and wait for the result.

  64. QY
    July 19th, 2022 at 23:08 | #64

    @Apple

    Yes, did the same. But too long already… This project launch more than half a year already. Pretty tired of waiting endlessly. They don’t even have a dateline latest by when it will become open.

  65. B for Brian
    July 21st, 2022 at 11:23 | #65

    @QY
    Did you check the status from LPNPP? The “Semakan Status” there. Try key in your details and see whether your name on the list or not. If its on the list means still got hope.

  66. QY
    July 21st, 2022 at 22:00 | #66

    @B for Brian

    I asked them about this. They said the Ideal Venice project not even in the system, once it open for state unit, then only will start have names with it

  67. Apple
    July 22nd, 2022 at 01:07 | #67

    My current status is “dalam senarai menunggu” with this project. But wonder is it because they haven’t launch for state unit or I need to wait for the rejected unit.

    @B for Brian

  68. DV
    July 22nd, 2022 at 08:35 | #68

    Same here, submit the application and letter at Komtar on March but until now still don’t have any news. Check with e-rumah they always said still waiting for APDL but don’t have dateline. Feel like hopeless

  69. QY
    July 22nd, 2022 at 09:28 | #69

    Yea, rather disappointing. Project already launch since January 4th. Half a year they still cannot open state unit and shortlist the name of applicants eligible. Maybe like some people said, they are keeping for insider, under table and etc.

  70. Brian
    July 22nd, 2022 at 14:08 | #70

    @Apple
    If your status is “Dalam Senarai Menunggu” with Projek “Ideal Venice Residency” Pemaju “Ideal Capital” blablabla, which means got hope la. Mine also the same. From this status and it will become “dalam process tawaran”. You will only received letters from LPNPP and Ideal on this stage. Then with these letters only can go to book an appointment to do ballot. I believe they have few batch because all of us apply in different time. For my project, they even separate in few batches. They will definitely serve the public unit buyers, and then govn unit buyers that agree to go for upgraded units, then the last will be pure govn unit with no upgrade (300K). Be patience guys, we all know that they want to earn money, with public units and upgraded units, they will earn more so they have priority.

    But for my opinion, if you guys really interested with this area and project, may go for public units. I have my own budget and I’m ok with the Type A layout so I willing to wait for my turn. My friend even got patience to wait for govn units that some buyers fail to get housing loan lol.

  71. QY
    July 22nd, 2022 at 22:37 | #71

    I have the budget too for the public unit. But the timing is just bad. I came to know this project way too late, around April. Which all the good units has been booked. All that’s left now is the awkward ones. I would rather get state unit and get lucky with the drawing. Since it wouldn’t be any worse than the current available public unit choices.

  72. Brian
    July 22nd, 2022 at 23:16 | #72

    @QY

    Same. Same with my project that 70% take up rate within a month since they launched. I heard that they informed their investors about this project before they open to public. But ya, make sense. No kang tao how come ppl will treat you so good.

    But I have same mindset with you. So good luck for you. Hope you can be shortlisted soon and get a good unit. You may discuss with your family that whether want go with upgraded unit or not. So once you get your offer letter you may make your decision immediately. Gambateh.

  73. QY
    July 24th, 2022 at 23:44 | #73

    @Brian

    Yaya. Decision will be made after that, be it shortlisted or not. Maybe there are good units where loan was rejected, then I can also take the public unit ones. Anyway, thanks and look forward to being neighbour :D.

  74. Bystander
    July 26th, 2022 at 13:58 | #74

    @JustinLeongg

    I heard the rumors about this project too. This project’s Pr1ma state allocation is for the executive’s relative and selected buyers they would personally offer. Those who apply the traditional way for affordable housing project can say goodbye to their chances. No need wait for nothing if you do not have connection with the insider. Better look at D’starlington. Price is okay, and the facilities is enormous. Better option I would say.

  75. Popia
    July 27th, 2022 at 22:43 | #75

    Open unit cost up 483k.
    Wtf, better add bit to take non prima project.

  76. cindy woo
    July 28th, 2022 at 09:33 | #76

    Bystander :
    @JustinLeongg
    I heard the rumors about this project too. This project’s Pr1ma state allocation is for the executive’s relative and selected buyers they would personally offer. Those who apply the traditional way for affordable housing project can say goodbye to their chances. No need wait for nothing if you do not have connection with the insider. Better look at D’starlington. Price is okay, and the facilities is enormous. Better option I would say.
    </blockquw

    Bystander :
    @JustinLeongg
    I heard the rumors about this project too. This project’s Pr1ma state allocation is for the executive’s relative and selected buyers they would personally offer. Those who apply the traditional way for affordable housing project can say goodbye to their chances. No need wait for nothing if you do not have connection with the insider. Better look at D’starlington. Price is okay, and the facilities is enormous. Better option I would say.

    if your rumors is true, then congratulation to the executive relatives because the younger generation will not borther to buy sub sales unit of the affordable housing. Nowsaday who still want to buy Bata brand when everyone is fancy for MK or couch brand. you will not get the sub sales market buyer for the affordable housing, so who will take up the unit to flip ?

  77. Bystander
    July 28th, 2022 at 09:47 | #77

    Different people different perspective. You are right for your perspective. People are right about their perspective. Those who go for prima project perspective is like, you’re buying Vios high spec means including all accessories. Might as well buy lowest spec, and modify accessories by yourself with ultimately lower cost and to your own’s liking rather than follow generalised favoritism. Ultimately, you are still buying Vios, the building is Ideal Venice Residency no matter how much you pay. Just the modifications.

  78. HB
    August 19th, 2022 at 12:47 | #78

    This project gone already? Launch since January, until now no signing. I booked since April. Now also august liao loh

  79. chill
    August 21st, 2022 at 23:08 | #79

    Hi all, I already owned the affordable house at i-Santorini. can i still buy Venice? I like the location also.

  80. jack
    August 21st, 2022 at 23:50 | #80

    chill :
    Hi all, I already owned the affordable house at i-Santorini. can i still buy Venice? I like the location also.

    You can buy at normal price

  81. andyyy
    August 22nd, 2022 at 10:16 | #81

    chill :
    Hi all, I already owned the affordable house at i-Santorini. can i still buy Venice? I like the location also.

    u cant but affordable but i think u still can buy the public units

  82. CY Chew
    September 19th, 2022 at 14:15 | #82

    Now September going October liao lo. Almost a year since launch already still the state unit no finalize. Is it really as rumored they sell insider and keep for under table? My agent say it is impossible to get state unit. Is it mean impossible to buy without connection?

  83. Kuzvo
    September 24th, 2022 at 20:38 | #83

    Hi,

    Need some advice here.

    I went to the showroom and its like selling hotcakes. But I really don’t see the appeal, its so high dense and its deep inside an old area. The price for affordable housing is not affordable at all at my pay level.

    What am I missing? Is it because its Ideal? Or Greenlane or something else? It cannot be sold for years too.

  84. Balan Andy
    September 24th, 2022 at 20:43 | #84

    Kuzvo :
    Hi,
    Need some advice here.
    I went to the showroom and its like selling hotcakes. But I really don’t see the appeal, its so high dense and its deep inside an old area. The price for affordable housing is not affordable at all at my pay level.
    What am I missing? Is it because its Ideal? Or Greenlane or something else? It cannot be sold for years too.

    no need to advice, just go padang tembak flat and see yourself of the 1970s affordable housing. what is you comment after see the future ?

  85. CC
    September 24th, 2022 at 21:03 | #85

    @Kuzvo
    Over the years, many of the new projects combining affordable and public unit have settled at 400-500k range. To give you a few examples, think Santorini (another Ideal project), TheStone, Tri Pinnacle and etc. Ideal projects at Sg Ara also fetches around that range. That price range is ‘affordable’ for white-collars, but not affordable for someone on minimum wage.

    I don’t see the appeal of Venice either, but the location is quite strategic. It’s sits somewhat at the central point of Penang. Barring traffic congestion, you can reach both Gurney Plaza / Queensbay Mall within 20 minutes. If you don’t see it as an investment and purely for own stay, it’s a good first house as you progress through your career ladder and earn enough to get your dream house later on. And if you work in Bayan Lepas, you have easy assess to FIZ thru the coastal highway.

    However, my other concern for this project will be the road leading towards the Venice and Ideal Residency. It’s a very narrow road. Venice and Ideal Residency will total up to have 2850 density. The road is not sustainable for even half of the population. Traffic will be an issue. Keep this in mind as you are considering this project.

    PS: There will be other subsale projects (~20 years of age) around the vicinity of Gelugor/Jelutong/Greenlane which is of lower dense and cheaper; albeit you have to fork out some money for downpayment, legal fees and renovation.

  86. Kuzvo
    September 24th, 2022 at 23:25 | #86

    @Balan Andy

    Sorry Boss I don’t understand. You mean Venice and all those so called RM400k+ affordable house will gradually become like Padang Tembak in 50 years time (or even sooner)? If that is the case, its a scary future.

  87. Kuzvo
    September 24th, 2022 at 23:33 | #87

    CC :
    @Kuzvo
    Over the years, many of the new projects combining affordable and public unit have settled at 400-500k range. To give you a few examples, think Santorini (another Ideal project), TheStone, Tri Pinnacle and etc. Ideal projects at Sg Ara also fetches around that range. That price range is ‘affordable’ for white-collars, but not affordable for someone on minimum wage.
    I don’t see the appeal of Venice either, but the location is quite strategic. It’s sits somewhat at the central point of Penang. Barring traffic congestion, you can reach both Gurney Plaza / Queensbay Mall within 20 minutes. If you don’t see it as an investment and purely for own stay, it’s a good first house as you progress through your career ladder and earn enough to get your dream house later on. And if you work in Bayan Lepas, you have easy assess to FIZ thru the coastal highway.
    However, my other concern for this project will be the road leading towards the Venice and Ideal Residency. It’s a very narrow road. Venice and Ideal Residency will total up to have 2850 density. The road is not sustainable for even half of the population. Traffic will be an issue. Keep this in mind as you are considering this project.
    PS: There will be other subsale projects (~20 years of age) around the vicinity of Gelugor/Jelutong/Greenlane which is of lower dense and cheaper; albeit you have to fork out some money for downpayment, legal fees and renovation.

    @Kuzvo
    Thanks CC.

    As someone that had stayed on the third floor of a low dense RM175k 8 story actual affordable house (at least for me) for ages, I really worried about the “crowd” for Venice. I mean, 1000+ units, 8-9 floors of car park and 15 units per floor, rush hour might be hectic and frustrating,

    So people are indeed attracted by the Gelugor center point location. I passby the place after visiting the showroom and the road is indeed small. Will Ideal or any other developers going to build more condo at that area?

    Those super high end condo like Raffel Tower and Middleton are not far away. Hope they won’t get impacted.

    I try to get myself up-to-date again on Penang properties after MCOs and Covid. I now Penang economy on certain area are doing fine. But do we really have such demand? When I was at the showroom, I heard a family telling the agent – wah RM473k…where to find???? For someone earning RM3500 a month, I felt small, really, really small….

  88. CC
    September 25th, 2022 at 00:14 | #88

    @Kuzvo
    I agree to your point on the density. And to make things worse, if developer don’t widen the road, it will be quite congested during rush hour. But I didn’t take time to understand the infrastructure plan by Ideal so not sure if they might have a plan to open up more access road towards the two projects.

    Middleton and Raffel Tower have their own problems. Raffel Tower still have a few unsold units and you can still get it from BSG (~RM800psf). Middleton is worse where the unsold units are even more (also ~RM800psf). But BSG has very strong holding power so they are not in rush to dispose off the units.

    My humble opinion on Penang market is we have oversupply of condo and I don’t think the demand is there. RM473K for a 850sf condo translates to ~RM556 psf, which I think is too high for affordable house. There will be new developments coming up around Jalan Perak but judging from Sky Ville, SkyView, Artis 3, I predict the development to price around RM550-RM600psf.

    My hunch is all the developers seem to think that anything below RM500K is affordable. A RM500K house (assume 100% loan with 3.6% interest rate) would translate to RM2k mortgage per month. This, when combined with quit rent + assessment fee + others, is equitable to RM30k of liabilities per year. Based on the median Penang household income (as of 2019) of Rm6k/month, a household would spend ~40% of their gross income on housing.

    Can we afford it? Yes, but it would mean we are stretching it very thin and leaving us with little savings…

  89. jack
    September 26th, 2022 at 09:49 | #89

    @Kuzvo
    It’s been a dog-eat-dog world all along. State and federal gov introduced affordable housing schemes but to be honest, it’s just another PPR for those trapped in middle income. Don’t hope for handout from gov already, empower yourself and break out from the middle income trap to buy better property, or else just be satisfied and thankful for being able to afford a property when many more people are still poor.

  90. Kuzvo
    October 11th, 2022 at 21:55 | #90

    How much is middle income in Penang anyway?

    I considered myself as low income as my bring home pay is barely over RM3500. That is why my RM175000 house is such a blessing for my family. Yes, we have some saving and other half is working. Thats why wanted to get something before we retire in 10-15 years time.

    Ps after two days of thinking, argument for a couple more times, we decided not to consider further for Venice.

  91. Lee
    October 12th, 2022 at 01:18 | #91

    Do you know in Ideal’s plan, there’s still 2 more condos yet to pop up? Currently there is Ideal and Venice, after completion, be prepared for 2 more buildings to pop up.

  92. Fengshui
    October 12th, 2022 at 07:54 | #92

    @Lee
    Pop up meaning is good. Something happening soon which bringing more positive energy to this area & business opportunity. This area is super high demand.

  93. Jk
    October 15th, 2022 at 01:13 | #93

    @lee may I know where did you get these information. Any reference or source? Thank you

  94. JunCW
    November 7th, 2022 at 16:22 | #94

    @QY

    You can go check erumah now already. All the state unit now already allocated. Those get a call this week means get. If no, then unlucky d. Just wait for other project.

  95. QY
    November 8th, 2022 at 07:46 | #95

    @JunCW

    Yaya. Already get a call from perumahan yesterday asking me if i’m interested. Few of my friends also received call by them oredy. You also apply Ideal Venice?

  96. JunCW
    November 9th, 2022 at 08:51 | #96

    @QY

    Nope. I bought The Stone (which I extremely regretted). Congrats to you

  97. JH
    November 10th, 2022 at 08:54 | #97

    @JunCW
    Why stone regret? I thought The Stone is one of the well planned development in Paya terubong?

  98. jack
    November 10th, 2022 at 11:37 | #98

    @JH
    TBH many affordable housing projects tender given to developers are not really well planned, except for Ideal and Asia Green who delivers slightly satisfactory outcome.
    If you got money to buy property without assistance (apply affordable housing, HOC, Prima, etc), then there are better properties than Ideal and Asia Green projects

  99. Joki Nasi kandar
    November 10th, 2022 at 12:00 | #99

    @jack
    Don’t pusing here & that acting. The Meg la..ideal la..Asia green la..prima la…Buy a land build la better or go for landed. Otak udangm.

  100. jack
    November 10th, 2022 at 12:09 | #100

    Joki Nasi kandar :
    @jack
    Don’t pusing here & that acting. The Meg la..ideal la..Asia green la..prima la…Buy a land build la better or go for landed. Otak udangm.

    Just stating opinion, sorry la not property expert feel free to shoot me. Next time I retire and no more working then can buy land and build house, stay far far away from busy city 😀

  101. JunCW
    November 14th, 2022 at 09:12 | #101

    @JH

    Yup. well planned. Try staying there for yourself then you start seeing the doom. You will slowly lose hope as you see your surrounding. Impossible for development in this area. Also, this project in particular, developer is scammer and irresponsible. The material promised versus reality is totally different. Now I just trying to sell out my unit and write it off as loss. Forget about it.

  102. LK Hong
    November 14th, 2022 at 10:28 | #102

    @QY

    I applied since January, still not allocated. Very disappointed. Called perumahan this morning, they say it has been fully allocated for the state units, ask me to check with developer for public unit. I don’t know should I go for the public unit. I like the location

  103. richard
    November 15th, 2022 at 10:32 | #103

    Get ready for Hong Kong style super dense condo with ‘traffic jam’ within the building and water leakage all day everyday

  104. Phoebe
    November 21st, 2022 at 08:19 | #104

    pintu belakang developer and perumahan… applied for so long. Perumahan just said fully allocated. No explanation given, ask us to apply other project. Wasted my time.

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