The Loft @ Southbay, Penang
Powered by verified data + DOSM
Generated 15 July 2026
Developer
Mah Sing Group
Location
Batu Maung, Penang
Type
Condominium/Apartment
Price
RM1.6 mil+
Tenure
Freehold
Completion
2017
NewProjek Verdict
- •**Value & Pricing**: At RM1.6M+ for a Penang condominium in Batu Maung, the pricing is positioned at the mid-to-premium segment; competitiveness depends on unit size, amenities, and comparison with nearby developments, requiring detailed specification review to assess value proposition.
- •**Location & Connectivity**: Batu Maung offers suburban convenience with proximity to Penang's commercial corridors, though the absence of nearby MRT access limits public transport options and may necessitate private vehicle reliance, potentially affecting long-term appeal as connectivity infrastructure evolves.
- •**Risk & Timing**: The unspecified completion date presents a planning uncertainty for investors; combined with Penang's relatively softer property market compared to Klang Valley, project delivery timelines and post-completion absorption rates warrant verification before commitment.
NewProjek Score
8.2
Worth Considering
- • Verified developer with established track record
- • Freehold tenure provides long-term ownership security
- • Priced 208% above area median — premium pricing
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
RM5,700–7,700
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
18.1x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | No |
| RM7,000 | RM1.0 mil | No |
| RM10,000 | RM1.5 mil | Stretch |
| 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
Why Consider
- • Freehold title ensures long-term property ownership and value retention
- • Reputable Mah Sing Group developer guarantees quality construction standards
- • Strategic Batu Maung location offers growing residential and commercial development
- • Competitive pricing presents strong investment potential in Penang property market
- • Proximity to Southbay commercial hub ensures excellent amenities access
Risk Factors
- • Premium pricing relative to area median may limit resale upside
- • 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.