Ferringhi Residence 2
Powered by verified data + DOSM
Generated 14 June 2026
Developer
Mah Sing Group
Location
Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: The entry price of RM788,584 offers competitive positioning for a freehold condominium in Penang's mid-range segment, though the absence of specified unit sizes limits assessment of price-per-square-foot competitiveness against comparable developments.
- •**Location & Connectivity**: Ferringhi's beachfront locality provides lifestyle appeal and tourism-adjacent positioning; however, the lack of nearby MRT access and reliance on road-based transportation may constrain connectivity for commuters to Penang's central business districts.
- •**Risk & Timing**: The unspecified completion timeline presents execution risk and potential for extended holding periods before occupancy; buyers should seek clarification on project timeline and any possible delays, particularly given market conditions and developer track record.
NewProjek Score
7.5
Worth Considering
- • Verified developer with established track record
- • Freehold tenure provides long-term ownership security
- • Priced 52% above area median — premium pricing
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
RM2,800–3,800
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
10.1x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | No |
| RM7,000 | RM1.0 mil | Yes |
| RM10,000 | RM1.5 mil | Yes |
| 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
Similar projects in Penang
| Project | Location | Price From | Status |
|---|---|---|---|
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | Recently Completed |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
| M Aspira Mah Sing Group | Taman Desa | RM452k | Completed |
Why Consider
- • Penang location offers strong tourism and economic growth potential
- • Affordable entry price under RM800k for freehold property
- • Mah Sing Group reputation ensures quality construction and management
- • Condominium living provides rental income and capital appreciation opportunity
- • Freehold tenure provides long-term ownership security and value
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
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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.