Tuan Pavilion, Condominium @ Air Itam, Penang
Powered by verified data + DOSM
Generated 29 July 2026
Developer
Malton Berhad
Location
Air Itam, Penang
Type
Condominium
Price
RM695k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Pricing & Value**: Entry price of RM695,000 is competitive for a freehold condominium in Penang, offering reasonable value for first-time buyers and investors seeking affordability, though final unit pricing and built-up area specifications require verification for precise cost-per-square-foot assessment.
- •**Location & Connectivity**: Air Itam provides established residential connectivity with access to local amenities and main roads, though the absence of nearby MRT stations limits public transport convenience compared to more centrally-located Penang developments, potentially affecting long-term rental and resale appeal.
- •**Risk & Timing**: The absence of a specified completion date presents scheduling and possession uncertainty, which is a material concern for purchasers; additionally, Malton Berhad's track record and project financing should be verified to assess developer credibility and construction delivery risk.
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
7.8x
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
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 |
|---|---|---|---|
| Tropicana Bay Residences @ Bayan Lepas Tropicana Corporation | Gelugor | RM360k | Completed |
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | Completed |
| M Zenya Mah Sing Group | Kepong | RM420k | Under Construction |
Why Consider
- • Freehold tenure offers long-term ownership security and value appreciation
- • Air Itam location provides established neighbourhood with good amenities
- • Competitive pricing at RM695,000 for Penang condominium market
- • Malton Berhad developer brings established track record and credibility
- • Strong rental potential in popular tourist and residential area
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
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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.