Zen6 @ Georgetown, Penang
Powered by NAPIC + DOSM data
Generated 15 March 2026
Developer
—
Location
Georgetown, Penang
Type
Condominium
Price
RM689k+
Tenure
Freehold
Completion
—
NewProjek Verdict
Zen6 @ Georgetown offers an attractive entry point for buyers seeking freehold condominium ownership in the heritage district of Georgetown, with competitive pricing starting from RM689,000; however, prospective investors should note the absence of nearby MRT connectivity and the lack of a specified completion timeline, which may impact both accessibility and investment certainty. The project's appeal will largely depend on Georgetown's continued development as a residential and commercial hub, though the absence of key infrastructure details in the listing warrants further due diligence before commitment.
- • 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 | 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 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
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.