Ferringhi Residence 2 @ Batu Ferringhi, Georgetown, Penang
Powered by NAPIC + DOSM data
Generated 29 April 2026
Developer
—
Location
Batu Ferringhi, Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: Unit pricing from RM789,000 is competitive for beachfront residential in Batu Ferringhi, offering reasonable value relative to similar freehold developments in the area, though pricing power may be limited by the growing supply of competing projects.
- •**Location & Connectivity**: The beachfront location at Batu Ferringhi provides strong tourism and lifestyle appeal with direct beach access, though the absence of MRT connectivity means reliance on road transport; proximity to Georgetown is approximately 30km, limiting commuter convenience for those working in the city center.
- •**Risk & Timing**: The absence of a specified completion date presents execution and delivery uncertainty, which could impact investment returns and occupancy timelines; market absorption risk exists given Penang's oversupply of condominium stock, potentially affecting rental yields and resale demand.
NewProjek Score
6
Moderate
- • 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 | Recently Completed |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
| M Aspira Mah Sing Group | Taman Desa | RM452k | Completed |
Why Consider
- • Premium beachfront location in popular Batu Ferringhi tourist destination
- • Freehold tenure ensures long-term ownership and asset appreciation
- • Affordable pricing at RM789,000 for coastal property
- • Close to amenities, dining, shopping in established area
- • Strong rental yield potential from tourist and expat demand
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 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.