Ferringhi Residence 2 @ Batu Ferringhi, Georgetown, Penang
Powered by verified data + DOSM
Generated 14 June 2026
Developer
—
Location
Batu Ferringhi, Penang
Type
Condominium
Price
RM789k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Pricing & Value**: Starting price of RM789,000 positions this project in the mid-range segment for Penang beachfront properties; however, without specified completion timeline or detailed unit specifications, valuation assessment is constrained and end-buyers should seek comparative analysis with similar freehold developments in the corridor.
- •**Location & Connectivity**: Batu Ferringhi offers established tourism infrastructure and beach proximity with inherent lifestyle appeal, though the absence of nearby MRT connectivity limits public transport options and accessibility to Georgetown's commercial core, relying primarily on vehicle or taxi-based mobility.
- •**Risk & Timing**: The lack of specified completion date presents execution and market timing uncertainty, particularly relevant given Penang's competitive condo market; investors should obtain detailed project timelines and developer track record before commitment to mitigate delivery and absorption risks.
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
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
- • 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.