Tuan Pavilion, Condominium @ Air Itam, Penang
Powered by verified data + DOSM
Generated 14 June 2026
Developer
Malton Berhad
Location
Air Itam, Penang
Type
Condominium
Price
RM695k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: Entry price of RM695,000 is competitive for Penang's mid-range residential market, though without specified completion date and unit specifications, long-term value appreciation potential remains unclear relative to comparable developments.
- •**Location & Connectivity**: Air Itam offers established residential appeal with proximity to amenities and Penang's city center, but the absence of nearby MRT connectivity limits public transport accessibility compared to future transit-oriented developments, potentially affecting resale demand.
- •**Risk & Timing**: The lack of specified completion timeline creates uncertainty regarding delivery and investment returns; buyers should verify project status and developer track record with Malton Berhad, as delays can impact financing costs and market conditions.
NewProjek Score
7.5
Worth Considering
- • Verified developer with established track record
- • Freehold tenure provides long-term ownership security
- • Priced 34% 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
RM2,500–3,300
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
8.9x
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 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 |
|---|---|---|---|
| Tropicana Bay Residences @ Bayan Lepas Tropicana Corporation | Gelugor | RM360k | Completed |
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | Recently Completed |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
Why Consider
- • Freehold tenure ensures long-term ownership and asset appreciation
- • Air Itam location offers vibrant neighbourhood with local amenities
- • Competitive RM695k price point for Penang condominium market
- • Malton Berhad developer brings established track record and credibility
- • Strategic location near Georgetown with growing commercial potential
Risk Factors
- • Under construction — completion delays are possible
- • Premium pricing relative to area median may limit resale upside
- • No MRT/LRT station listed nearby — may affect future demand
Sign in to view full review
Free forever. Get rental yield, loan eligibility, comparable projects and risk assessment.
Google sign-in or magic link • No password needed
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.