Ideal Venice Residency @ Island Glades, Penang
Powered by verified data + DOSM
Generated 29 July 2026
Developer
—
Location
Bukit Gambir, Penang
Type
Landed House
Price
RM300k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value/Pricing**: RM300,000 entry price is competitive for freehold landed houses in Penang's emerging areas, offering reasonable value for buyers seeking affordable homeownership, though without comparison to similar developments in Bukit Gambir, the pricing competitiveness cannot be definitively assessed.
- •**Location/Connectivity**: Bukit Gambir's position lacks direct MRT connectivity, limiting accessibility to public transport infrastructure; however, the area's proximity to Island Glades suggests potential for future development and amenities, though current connectivity relies primarily on road-based transport.
- •**Risk/Timing**: The absence of a specified completion date presents a significant timing risk and project uncertainty; buyers should exercise caution regarding project timeline, potential delays, and the developer's track record before committing, as unclear delivery schedules can impact investment returns and occupancy planning.
NewProjek Score
8
Worth Considering
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced below area median — potential value opportunity
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
RM1,100–1,400
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
3.4x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | Yes |
| 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 |
|---|---|---|---|
| Vivo Executive Apartment | Penang Property | Seberang Perai | RM270k | Completed |
| TreeO | Bayan Lepas | RM300k | Completed |
| Aston Acacia @ Bukit Mertajam, Penang | Bukit Mertajam | RM319k | Completed |
Why Consider
- • Freehold tenure ensures permanent ownership and asset security
- • Affordable landed house pricing at RM300,000 entry point
- • Bukit Gambir location offers established residential neighbourhood stability
- • Island Glades development provides integrated community living environment
- • Strong property appreciation potential in growing Penang market
Risk Factors
- • 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.