Ferringhi Residence 2 @ Batu Ferringhi, Georgetown, Penang
Powered by verified data + DOSM
Generated 29 July 2026
Developer
—
Location
Batu Ferringhi, Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value/Pricing**: At RM789,000 entry price for a beachfront condominium in Batu Ferringhi, the project offers competitive positioning within the Penang luxury residential market, though pricing appears market-aligned rather than discounted, warranting comparison with comparable freehold properties in the vicinity.
- •**Location/Connectivity**: Batu Ferringhi's established beachfront location provides strong lifestyle appeal and tourism proximity; however, the absence of nearby MRT connectivity may limit long-term capital appreciation and accessibility for commuters relying on public transport to central business districts.
- •**Risk/Timing**: The absence of a specified completion date presents a material uncertainty for investors regarding project timeline and delivery risk; prospective buyers should seek clarification on expected handover dates and developer track record before commitment.
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 (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
- • Beachfront location in iconic Batu Ferringhi tourist destination
- • Freehold tenure ensures long-term property ownership security
- • Affordable pricing at RM789k for coastal living
- • Close to Georgetown UNESCO site and amenities
- • Strong rental yield potential from tourism 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 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.