M Zenya
Powered by verified data + DOSM
Generated 29 July 2026
Developer
Mah Sing Group
Location
Kepong, Penang
Type
Condominium
Price
RM420k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value and Pricing**: RM420,000 entry price is competitive for a freehold condominium in the Kepong area, offering reasonable value for first-time buyers and investors seeking affordable urban properties, though the absence of premium finishes may justify the positioning.
- •**Location and Connectivity**: Kepong's established infrastructure and proximity to commercial hubs provide decent accessibility; however, the lack of nearby MRT connectivity limits long-term appeal compared to newer developments along rapid transit corridors, potentially impacting future resale demand.
- •**Risk and Timing**: The unspecified completion date presents uncertainty for buyers regarding possession timelines and market conditions; developers should clarify this urgently, and purchasers should assess their holding capacity and the broader Penang property market's maturity before committing capital.
NewProjek Score
9
Strong Buy Signal
- • Verified developer with established track record
- • 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
RM1,500–2,000
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
4.7x
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 |
| Ideal Venice Residency @ Island Glades, Penang | Bukit Gambir | RM300k | Completed |
| TreeO | Bayan Lepas | RM300k | Completed |
Why Consider
- • Kepong location offers established amenities and neighbourhood stability
- • Mah Sing Group reputation ensures quality construction and completion
- • Freehold tenure provides long-term ownership security and value
- • Affordable RM420k entry price in sought-after Penang market
- • Strong rental demand potential in residential Kepong area
Risk Factors
- • Under construction — completion delays are possible
- • 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.