Zen6 @ Georgetown, Penang
Powered by NAPIC + DOSM data
Generated 29 April 2026
Developer
—
Location
Georgetown, Penang
Type
Condominium
Price
RM689k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: At RM689,000 entry price for a Georgetown condominium, the project offers competitive positioning within the heritage district's residential market, though final value assessment requires clarity on unit size, finishes, and amenities relative to comparable developments.
- •**Location & Connectivity**: Georgetown's UNESCO status and established commercial/cultural infrastructure provide strong locational appeal, but the absence of nearby MRT connectivity is a notable limitation for commuters, with reliance on bus networks and private transport reducing accessibility compared to KL-centric alternatives.
- •**Risk & Timing**: The unspecified completion date presents uncertainty for buyers; combined with Georgetown's slower market velocity relative to Klang Valley, investors should verify developer track record and demand fundamentals before committing, particularly in the current economic environment.
NewProjek Score
6
Moderate
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced 33% 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
RM2,400–3,300
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
8.8x
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
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 |
| Versa @ Aspen Vision City, Batu Kawan, Penang | Batu Kawan | RM370k | New Launch |
| Havana Beach Residences @ Bayan Lepas, Penang | Bayan Lepas | RM408k | Recently Completed |
Why Consider
- • Located in Georgetown, 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
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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.