Having a budget of only RM500,000 to buy a property in Penang Island? Consider these 10 attractive projects in 8 different locations (in no particular order)…

The Zen Condominium (Bayan Mutiara)

Undertaken by Asia Green at Bayan Mutiara. This development is just a short drive away from Penang World City integrated development, offering more than 1,200 affordable units from RM300,000 onwards. One of the most active affordable housing projects in 2018.

Grace Harmoni (Jelutong)

An affordable housing by Nova Land Development at Jelutong, easily accessible via Tun Dr. Lim Chong Eu Expressway. This development comprises a 44-storey skyscraper, featuring a mix of affordable housing and LMC units. The LMC unit starts from RM100,000 onwards.

SenzVilles (Sungai Ara)

A freehold condominium located in Sungai Ara. This is probably one of the lowest density high-rise residential development in the South East District of Penang Island, with a low starting price of RM200,000 for LMC units. Undertaken by Corfield Development, featuring 397 condominium units. Since this is not a fully affordable project, it’s open for non-Penangite.

Sunsuri Residences (Bayan Lepas)

This is a purpose-built residence by Ideal Property with Airbnb in mind. Strategically located along Jalan Tun Dr Awang, less than 2km away from Penang International Airport. It features 770 serviced residences with three different sizes – 500 sq.ft., 600 sq.ft. and 800 sq.ft. Indicative price from RM330,000 onwards.

PR1MA @ Batu Ferringhi

Penangites who are interested to stay near beaches, PR1MA affordable housing projects at Batu Ferringhi is now open for registration. It is located along Jalan Sungai Satu in Batu Ferringhi, offering a total 1,248 affordable units in two phases. Indicative price is RM300,000.

Fairview Residence (Sungai Ara)

A joint venture affordable housing development by BSG Property and VST Group in Sungai Ara. Located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. The development comprises 750 affordable units, with standard built-up size of 970 sq.ft.

M Vista @ Southbay (Batu Maung)

A low-density residential development by Mah Sing Group, part of the company’s Southbay township development at Batu Maung. It is located just a stone’s throw away from Free Trade Zone, less than 5 minutes drive to Penang Second Bridge. This development featuring a 23-storey serviced residence, offering 237 units of residential suites with unit size ranges from 534 sq.ft. to 1,201 sq.ft. Indicative selling price from RM364,000.

Sandilands Foreshore (George Town)

Strategically located along Lintang Macallum 2 in George Town, this is one of the few popular affordable housing projects in Penang. it is undertaken by Tah Wah Group, comprises a 48-storey building featuring a mix of affordable houses, LMC and commercial suites.

PR1MA @ Gelugor

This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah, undertaken by Ideal Capital Venture Sdn. Bhd. It’s only less than 2km away from University Science Malaysia (USM). Featuring over 1,000 units of affordable and LMC units. The official launch of this project is expected to be in early 2019.

Urban Suites (Jelutong)

Commercial suites by Cosmopolitan Homes located within an established township at of Jelutong, Penang. It is easily accessible via Dr Lim Chong Eu Expressway and surrounded by an abundance of amenities. Lowest selling price starts from RM360,000 for the smallest unit.

Yet another affordable housing development proposed at Relau. Undertaken by Chong Holdings Sdn. Bhd., this development is located along Persiaran Paya Terubong 5, just a stone’s throw away from Sierra East Condominium. It is only 10 minutes away from Bayan Baru town centre, under 20 minutes drive to Penang Bridge.

Interestingly, this seems to be a very low-density affordable housing, consists of only 57 condo units in a 17-storey residential building. It is still pending for approval, we shall find out more details upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location : Relau
Property Type : Affordable Housing
Built-up Size: (to be confirmed)
Total Units: 57
Indicative Price: RM300,000
Developer : Chong Holdings Sdn. Bhd.

Location Map (approximate location):

A newly proposed freehold affordable housing development by Taraf Ria Sdn. Bhd. (a subsidiary of WHH Land) at Bukit Minyak. It is part of the company’s BM Permai development located along Jalan Bukit Minyak, less than about 10 minutes walk from The AEON Big hypermarket.

This development will see the construction of a 19-storey high-rise residential building, featuring 160 affordable condominium units. There will also be 7 units of 2-storey shop offices located at the ground level.

This is still pending for approval. More details to be available upon project launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location : Bukit Minyak
Property Type : Affordable Housing
Built-up Size: (to be confirmed)
Total Units: 160
Indicative Price: RM250,000
Developer : Taraf Ria Sdn. Bhd. (WHH Land)
Last Update: Dec 2019

Location Map (approximate location):

Mah Sing Group is set to become the first developer in South-East Asia to sell its properties online under a partnership with e-commerce company Lazada Malaysia.

To attract buyers, the company is also offering cash incentives of up to RM30,000.

“Over half of the Malaysian population are shopping online, so being the first developer to sell units online on an eCommerce platform such as Lazada, gives us a competitive edge against other developers in Malaysia,” Mah Sing CEO Datuk Ho Hon Sang said.

Mah Sing home buyers who shop for their homes on Lazada will receive an exclusive 5% Lazada Incentive, worth between RM20,000 and RM30,000 which is the biggest online incentive ever to be offered on Lazada.

Lazada Malaysia CEO Christophe Lejeune said: “We are ramping up our efforts to anticipate the changing demands of the constantly evolving and increasingly fearless mobile consumer.

Malaysian shoppers are looking for more digital solutions for all their lifestyle needs, and we believe that this collaboration will make affordable homes more accessible to young homebuyers.

The 5% incentive is one of the biggest incentives a property developer can offer.

The Mah Sing projects that will be listed in Lazada for the 12.12 sale include M Vertica in Cheras, M Centura in Sentul, Sensa Residence @ Southville City in KL South, M Aruna in Rawang, M Vista in Penang and Meridin East in Johor.

Interested buyers can preview homes beginning Nov 28 and can add to cart and purchase from Dec 10-12.

Prospective buyers are also encouraged to contact their banks to check for loan eligibility before booking their unit on the Mah Sing Flagship Store on LazMall during the campaign period.

A fee of RM3,000 needs to be paid by interested buyers as registration fee to Lazada Malaysia to secure the unit before purchase.

Booking fees are fully refundable if the homebuyer decides not to proceed with the purchase.

Once the unit selection, documentation and loan application are finalised, buyers can sign their sales and purchase agreement.

Source: TheStar.com.my

Utility companies will have to pay for the building of their respective facilities at affordable housing schemes, and bear the costs, under a guideline of the upcoming National Housing Policy (NHP) 2.0.

Housing and Local Government minister Zuraida Kamaruddin said there will be a guideline under the affordable housing sub-policy of the NHP 2.0 that requires utility companies to take over the cost of building utilities such as water, electricity and telecommunications from developers of affordable houses for the B40 group.

“The compliance cost will be taken by the different [utility] agencies. The cost of [providing] water, electricity and telecommunications should be borne by the respective agencies instead of property developers who then pass on the cost to home buyers,” she said, during a question and answer session at the Real Estate Seminar 2018 at University Malaya (UM) today.

“We do this in order to give more opportunities to build lower-cost houses so that our people, especially the B40 group can have access to homeownership,” she elaborated.

She noted that the new NHP has been approved by the Cabinet and will be launched soon.

Housing accessibility, together with home quality, facilities, financial accessibility and laws and regulations are the five key areas that the new housing policy will be focused on, she added.

Hence, a standard housing design will also be determined under the policy to ensure that there is a space of no less than 900 sq ft for affordable homes, she noted.

“At the moment, [the standard size] is only 750 sq ft. How can a family live comfortably? It will create a lot of social problems. So we need to invest now, otherwise we would need to spend more later,” she said.

The NHP 2.0 will also include the National Community Policy, which aims to inculcate good habits and mindfulness among the people, especially the lower income groups to be more empowered and responsible in taking care of their home and neighbourhood.

“Community empowerment is very important in this policy. We want the community to be responsible for their property and avoid vandalism. We want to make them understand that if you take care of your property well, the value of your property will definitely rise, thus giving you a good selling price if you sell the property,” she explained.

Jointly organised by UM’s department of estate management and the faculty of business and information science of UCSI University, the seminar themed “New Governance: Shaping The Real Estate Industry” has attracted close to 180 participants from a variety of backgrounds, such as undergraduates, academics as well as professionals in the real estate industry.

Also present at the seminar was Rahim & Co International Sdn Bhd executive chairman Tan Sri Abdul Rahim Abdul Rahman, Faculty of Built Environment dean Prof. Yahaya Ahmad, Malaysia Institute of Estate Agents (MIEA) deputy president Eric Lim and TRX City Sdn Bhd CEO Datuk Azmar Talib.

Source: EdgeProp.my