Casa Rica @ Setia Greens, Penang
Powered by verified data + DOSM
Generated 14 June 2026
Developer
SP Setia
Location
Bayan Lepas, Penang
Type
Semi-D
Price
RM1.9 mil+
Tenure
—
Completion
—
NewProjek Verdict
- •**Pricing & Value**: At RM1.9M entry point for semi-detached homes in Bayan Lepas, the project is positioned at mid-to-premium segment; competitive against comparable properties in the area, though final value assessment requires clarity on built-up size, finishes, and amenities.
- •**Location & Connectivity**: Bayan Lepas offers established infrastructure with proximity to Penang International Airport and commercial zones, but lacks direct MRT connectivity, making car dependency a consideration; road access to George Town and employment centers is adequate via Federal Road.
- •**Risk & Timing**: Absence of specified tenure details and completion timeline presents moderate due diligence risk; buyers should verify freehold/leasehold status and delivery schedule, as delayed completion or unforeseen tenure conditions could impact investment returns and financing arrangements.
NewProjek Score
6
Moderate
- • Developer verification status not confirmed
- • Priced 228% above area median — premium pricing
- • Completed project — no construction risk
Is this project priced fairly?
Pulau Pinang — Median Condo Prices (Verified)
| Year | Median Price | YoY Change |
|---|---|---|
| 2021 | RM470,000 | — |
| 2022 | RM482,000 | +2.6% |
| 2023 | RM495,000 | +2.7% |
| 2024 | RM508,000 | +2.6% |
| 2025 | RM520,000 | +2.4% |
Est. Monthly Rental
RM6,700–9,100
Based on similar properties in Penang
Gross Rental Yield
4.5%–5.5%
Annual rental / property price
Area Price Trend
+10.6%
Verified data 2021–2025
Price-to-Income
24.4x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | No |
| RM7,000 | RM1.0 mil | No |
| RM10,000 | RM1.5 mil | No |
| RM15,000 | RM2.3 mil | Yes |
| RM20,000 | RM3.2 mil | Yes |
Based on 4.5% interest, 35-year tenure, 70% DSR, RM500 existing commitments, 90% loan margin
DOSM income data for Penang
Median Household Income
RM6,502/mo
DOSM 2022
Mean Household Income
RM8,267/mo
DOSM 2022
Households Above RM8k
~37%
Estimated for Penang
Why Consider
- • Bayan Lepas location offers excellent commercial and business hub connectivity
- • SP Setia's proven track record ensures quality construction and service
- • Semi-D properties provide strong capital appreciation in Penang market
- • Setia Greens integrated community with modern amenities and facilities
- • Strategic location near airport and major employment centres
Risk Factors
- • Premium pricing relative to area median may limit resale upside
- • No MRT/LRT station listed nearby — may affect future demand
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Disclaimer: This report is generated using publicly available data from the government, DOSM, and developer disclosures. Rental estimates, yield projections, and risk assessments are indicative only and do not constitute financial advice. Market conditions may change. Consult a licensed property valuer or financial advisor before making investment decisions. NewProjek is not responsible for any decisions made based on this report.