Zen6 @ Georgetown, Penang
Powered by verified data + DOSM
Generated 29 July 2026
Developer
—
Location
Georgetown, Penang
Type
Condominium
Price
RM689k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Value & Pricing**: RM689,000 entry price is competitive for Georgetown's freehold condominium market, though lacking detailed unit specifications and amenities breakdown makes value assessment incomplete without further information.
- •**Location & Connectivity**: Georgetown's UNESCO heritage status and established commercial/cultural hub status provide strong location fundamentals, though the absence of nearby MRT connectivity may limit appeal to buyers prioritizing rapid transit access compared to newer Penang developments.
- •**Risk & Timing**: Completion timeline not specified represents a significant transparency gap that increases investment uncertainty; buyers should seek clarification on delivery schedule before commitment, particularly given Penang's competitive condo market with multiple alternatives offering defined timelines.
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 (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
RM2,400–3,300
Based on similar properties in Penang
Gross Rental Yield
4.5%–5.5%
Annual rental / property price
Area Price Trend
+10.6%
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 ensures long-term ownership security and asset appreciation
- • Georgetown UNESCO heritage location attracts tourists and boosts rental demand
- • Affordable entry price at RM689,000 for prime Penang location
- • Established Georgetown neighbourhood offers excellent lifestyle amenities and connectivity
- • Strong investment potential in popular tourist and expatriate destination
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.