Tuan Pavilion, Condominium @ Air Itam, Penang
Powered by NAPIC + DOSM data
Generated 15 March 2026
Developer
—
Location
Air Itam, Penang
Type
Condominium
Price
RM695k+
Tenure
Freehold
Completion
—
NewProjek Verdict
Tuan Pavilion offers affordable freehold condominium units in the established Air Itam locality, though the lack of MRT connectivity and unspecified completion timeline present considerations for potential buyers seeking convenient urban accessibility and project certainty. The competitive entry price point of RM695,000 may appeal to first-time homebuyers and investors, but prospective purchasers should verify construction timelines and assess transportation options through alternative public transit or personal mobility. Overall, this project represents a moderate opportunity for those prioritizing freehold ownership and location familiarity over proximity to rapid transit infrastructure.
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced 34% above area median — premium pricing
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
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%
NAPIC 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 | Gelugor | RM360k | New Launch |
| Versa @ Aspen Vision City, Batu Kawan, Penang | Batu Kawan | RM370k | New Launch |
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | New Launch |
✅ Why Consider
- • Located in Air Itam, Penang
- • Freehold title property
- • By Developer
⚠️ 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
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.