Tropicana Bay Residences @ Bayan Lepas
Powered by verified data + DOSM
Generated 14 June 2026
Developer
Tropicana Corporation
Location
Gelugor, Penang
Type
Condominium
Price
RM360k+
Tenure
—
Completion
—
NewProjek Verdict
- •**Value & Pricing**: RM360,000 entry price is competitively positioned for the Penang market, though pricing appears moderate relative to the lack of specified tenure clarity and absence of detailed unit specifications, which may affect long-term appreciation potential.
- •**Location & Connectivity**: Gelugor offers established residential appeal with proximity to local amenities, but the absence of MRT connectivity limits access to rapid transit infrastructure, relying instead on road-based commuting which may constrain accessibility for working professionals in George Town.
- •**Risk & Timing**: Material project risks exist due to missing completion timeline and unspecified tenure (freehold vs. leasehold), creating uncertainty for buyers regarding investment horizon and property longevity; the absence of these critical details warrants clarification before commitment.
NewProjek Score
7.5
Worth Considering
- • Developer verification status not confirmed
- • Priced below area median — potential value opportunity
- • Completed project — no construction risk
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
RM1,300–1,700
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
4.6x
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 |
| TreeO | Bayan Lepas | RM300k | Recently Completed |
| Ideal Venice Residency @ Island Glades, Penang | Bukit Gambir | RM300k | Completed |
Why Consider
- • Prime Gelugor location with excellent accessibility and connectivity
- • Affordable entry point at RM360,000 for Penang property
- • Developed by reputable Tropicana Corporation with proven track record
- • Coastal living opportunity at Bayan Lepas waterfront area
- • Strong investment potential in growing Penang real estate market
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 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.