M Zenya
Powered by verified data + DOSM
Generated 14 June 2026
Developer
Mah Sing Group
Location
Kepong, Penang
Type
Condominium
Price
RM420k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: Entry-level pricing of RM420,000 is competitive for a freehold condominium in the Kepong area, offering reasonable value for first-time buyers and investors seeking affordable residential units, though pricing competitiveness depends on built-up area and amenities relative to comparable developments.
- •**Location & Connectivity**: Kepong offers established residential infrastructure and road connectivity via major arterial routes, but the absence of nearby MRT access may limit long-term appreciation potential and appeal to commuters prioritizing public transportation, particularly as Penang's transit network expands.
- •**Risk & Timing**: The lack of specified completion date presents execution risk and uncertainty for purchase planning; investors should clarify delivery timelines with the developer, and broader consideration should be given to Penang's property market maturity and potential oversupply in the mid-range condominium segment.
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
5.4x
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
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 |
|---|---|---|---|
| Vivo Executive Apartment | Penang Property | Seberang Perai | RM270k | Recently Completed |
| Ideal Venice Residency @ Island Glades, Penang | Bukit Gambir | RM300k | Completed |
| TreeO | Bayan Lepas | RM300k | Recently 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.