Springfield Residence, SOHO Apartment @ Tmn Seng Goon, Kuching, Sarawak
Powered by NAPIC + DOSM data
Generated 29 April 2026
Developer
—
Location
Kuching, Sarawak
Type
Serviced Apartment
Price
RM649k+
Tenure
Leasehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: At RM649,000 entry price for a SOHO serviced apartment in Kuching, the valuation appears competitive for the local market; however, the lack of detailed unit specifications and amenities pricing makes independent value assessment challenging.
- •**Location & Connectivity**: Taman Seng Goon offers urban accessibility within Kuching, though the absence of MRT connectivity and reliance on road-based transport may limit appeal to buyers prioritizing public transit convenience compared to major Malaysian metropolitan centres.
- •**Risk & Timing**: The non-specified completion date presents significant execution risk for investors; coupled with the serviced apartment model's dependency on consistent rental demand and management quality, buyers should clarify developer track record and obtain binding completion timelines before commitment.
NewProjek Score
5.3
Moderate
- • Developer verification status not confirmed
- • Leasehold tenure — check remaining lease years
- • Priced 91% above area median — premium pricing
Is this project priced fairly?
Sarawak — Median Condo Prices (NAPIC)
| Year | Median Price | YoY Change |
|---|---|---|
| 2021 | RM310,000 | — |
| 2022 | RM318,000 | +2.6% |
| 2023 | RM325,000 | +2.2% |
| 2024 | RM333,000 | +2.5% |
| 2025 | RM340,000 | +2.1% |
Est. Monthly Rental
RM2,200–3,000
Based on similar properties in Sarawak
Gross Rental Yield
4.3%–5.3%
Annual rental / property price
Area Price Trend
+9.7%
NAPIC data 2021–2025
Price-to-Income
10.9x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | Stretch |
| 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 Sarawak
Median Household Income
RM4,978/mo
DOSM 2022
Mean Household Income
RM6,457/mo
DOSM 2022
Households Above RM8k
~28%
Estimated for Sarawak
Similar projects in Sarawak
| Project | Location | Price From | Status |
|---|---|---|---|
| SouthLake Terrace @ SouthLake Permyjaya | Miri | RM587k | New Launch |
| Ardence Cahya Residence, Double Storey Terrace House @ Miri, Sarawak | Miri | RM666k | New Launch |
| Aurum Pine Residence, 2-Storey Terrace @ Miri, Sarawak | Miri | RM698k | New Launch |
Why Consider
- • Located in Kuching, Sarawak
- • Leasehold title property
- • By Developer
Risk Factors
- • Under construction — completion delays are possible
- • Premium pricing relative to area median may limit resale upside
- • Leasehold tenure may depreciate faster than freehold
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Disclaimer: This report is generated using publicly available data from NAPIC, 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.