The Cube, Premium Affordable Residential Condo @ Jelutong, Penang
Powered by NAPIC + DOSM data
Generated 29 April 2026
Developer
—
Location
Jelutong, Penang
Type
Condominium
Price
RM540k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: Starting price of RM540,000 positions this as genuine affordable housing, though "premium affordable" positioning may depend on unit finishes and amenities relative to competing developments in the RM500k–RM700k segment.
- •**Location & Connectivity**: Jelutong offers established residential character and local accessibility, but the absence of nearby MRT connectivity limits transit-oriented appeal compared to projects along Penang's planned rapid transit corridors, though bus networks and road access serve the area adequately.
- •**Risk & Timing**: The lack of specified completion date presents a material risk for buyers requiring timeline certainty; market absorption and resale liquidity in Jelutong depend on developer track record and broader Penang property cycle momentum, warranting due diligence on the developer's delivery history.
NewProjek Score
7.5
Worth Considering
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced in line with area median
Is this project priced fairly?
Pulau Pinang — Median Condo Prices (NAPIC)
| 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
RM1,900–2,600
Based on similar properties in Penang
Gross Rental Yield
4.5%–5.5%
Annual rental / property price
Area Price Trend
+10.6%
NAPIC data 2021–2025
Price-to-Income
6.9x
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 |
|---|---|---|---|
| Ideal Venice Residency @ Island Glades, Penang | Bukit Gambir | RM300k | New Launch |
| Aston Acacia @ Bukit Mertajam, Penang | Bukit Mertajam | RM319k | New Launch |
| La Casa Ara, Courtyard Villament (Townhouse) @ Tasek Gelugor, Penang | Seberang Perai | RM339k | Completed |
Why Consider
- • Premium affordable pricing in established Jelutong neighbourhood
- • Freehold tenure ensures long-term ownership and asset appreciation
- • Strategic Penang location with growing commercial development
- • Residential condo ideal for first-time buyers and investors
- • Competitive RM540,000 price point for quality living space
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 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.