Casa Rica @ Setia Greens, Penang
Powered by NAPIC + DOSM data
Generated 15 March 2026
Developer
—
Location
Bayan Lepas, Penang
Type
Semi-D
Price
RM1.9 mil+
Tenure
—
Completion
—
NewProjek Verdict
Casa Rica @ Setia Greens presents a premium semi-detached offering in the established Bayan Lepas enclave, though prospective buyers should note that critical project details including tenure type and completion timeline are absent from available information, which may warrant clarification from the developer. The pricing entry point of RM1.9 million positions this as a mid-to-high-end residential product, though the lack of nearby MRT connectivity could be a consideration for buyers prioritizing public transport accessibility. Overall suitability depends on individual circumstances, location preferences, and the developer's ability to provide complete project specifications and delivery assurances.
- • Developer verification status not confirmed
- • Priced 228% above area median — premium pricing
Is this project priced fairly?
Pulau Pinang — Median Condo Prices (NAPIC)
| 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%
NAPIC 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
- • Located in Bayan Lepas, Penang
- • By Developer
⚠️ Risk Factors
- • Under construction — completion delays are possible
- • Premium pricing relative to area median may limit resale upside
- • No MRT/LRT station listed nearby — may affect future demand
Disclaimer: This report is generated using publicly available data from NAPIC, 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.