Tropicana Bay Residences @ Bayan Lepas
Powered by verified data + DOSM
Generated 29 July 2026
Developer
Tropicana Corporation
Location
Gelugor, Penang
Type
Condominium
Price
RM360k+
Tenure
—
Completion
—
NewProjek Verdict
- •**Pricing & Value**: Entry price of RM360,000 is competitive for Penang's mid-range condo market, though value assessment is limited without confirmed unit sizes, amenities, or completion timeline; pricing power may be affected by the absence of MRT connectivity.
- •**Location & Connectivity**: Gelugor/Bayan Lepas offers good accessibility via road networks and proximity to commercial zones, but the lack of MRT linkage is a notable disadvantage compared to emerging transit-oriented developments in Penang; car-dependent living remains necessary.
- •**Risk & Timing Factors**: Absence of specified completion date and tenure type presents material uncertainties for investors; recommend requesting these critical details from the developer before commitment, as delayed delivery or unclear freehold/leasehold terms could significantly impact investment returns and long-term holding costs.
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
4.1x
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
RM7,386/mo
DOSM 2024
Mean Household Income
RM9,152/mo
DOSM 2024
Households Above RM8k
~42%
Estimated for Penang
Similar projects in Penang
| Project | Location | Price From | Status |
|---|---|---|---|
| Vivo Executive Apartment | Penang Property | Seberang Perai | RM270k | Completed |
| TreeO | Bayan Lepas | RM300k | 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.