Ferringhi Residence 2
Powered by verified data + DOSM
Generated 29 July 2026
Developer
Mah Sing Group
Location
Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Pricing & Value**: Unit prices starting from RM788,584 offer moderate affordability for Penang's condominium market, though the absence of specified completion timeline creates uncertainty regarding actual market value at delivery and potential price appreciation.
- •**Location & Connectivity**: Ferringhi's beachfront positioning provides lifestyle appeal and tourism proximity, but the lack of nearby MRT connectivity limits accessibility for commuters, requiring reliance on personal vehicles or bus networks to reach employment centres.
- •**Risk & Timing**: The undisclosed completion date presents a material risk for investors, as extended timelines may impact rental yields and resale liquidity; buyer protections should be thoroughly reviewed given Mah Sing Group's track record, though the developer's established reputation provides moderate mitigation against delivery failure.
NewProjek Score
8
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
8.9x
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
RM7,386/mo
DOSM 2024
Mean Household Income
RM9,152/mo
DOSM 2024
Households Above RM8k
~42%
Estimated for Penang
Similar projects in Penang
| Project | Location | Price From | Status |
|---|---|---|---|
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | Completed |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
| M Aspira Mah Sing Group | Taman Desa | RM452k | Completed |
Why Consider
- • Penang location offers growing economic opportunities and lifestyle appeal
- • Affordable freehold condominium under RM800k entry price point
- • Mah Sing Group reputation ensures quality construction standards
- • Strategic Penang property market with strong rental demand
- • Freehold tenure provides long-term ownership security benefits
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.