Ferringhi Residence 2 @ Batu Ferringhi, Georgetown, Penang
Powered by NAPIC + DOSM data
Generated 15 March 2026
Developer
—
Location
Batu Ferringhi, Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
Ferringhi Residence 2 offers competitive pricing in the established Batu Ferringhi beach locality with freehold tenure, appealing to buyers seeking coastal living in Penang. However, the absence of MRT connectivity and unspecified completion timeline present notable limitations for investment and occupancy planning. Prospective buyers should request clarification on project timelines and assess transportation accessibility against their lifestyle and investment requirements.
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced 52% 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
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%
NAPIC 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 | New Launch |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
| M Aspira Mah Sing Group | Taman Desa | RM452k | Under Construction |
✅ Why Consider
- • Located in Batu Ferringhi, Penang
- • Freehold title property
- • 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.