[Fatin]

What is the safety like? Also, the maintenance fee?

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Which apartment are you looking for?

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I’ve never heard of the project but 1.38 mil is pretty steep. What is the sq ft?

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Hmm, this is a very interesting thread! Keep them coming y’all! 

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Hello Soraya,

This is not the right place to post loan-related questions. Please post this question on our Loan & Financing forum.

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Thought I’d chip in:

So the smallest layout is 2+2 and the biggest is 3+3.

2+2 is at 910 sq ft and 956 sq ft

3+3 is at 1419 sq ft

The rest follows the 3+2 layout with sizes in between those two numbers mentioned above. 

There are amenities and facilities on the ground floor, 7th floor, and 18th floor. 🙂

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Yes, the size is quite tight for 3 + 2. But then again, the area is already priced really expensive. I think for the size, a small family or a group of young professionals might find it beneficial. Also, there are unis in the area. So, can buy the property for investment since can always rent the unit to students? So potentially, there’s the consistent passive income. The investment cost is also not bad since it’s only RM300k

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Hello Edward,

I am not an expert but I made some quick google searches and found this: 

“Requirement by Penang state consent. Foreigners or non-Malaysian will only be allowed to buy condo priced above RM1 million and for landed properties priced RM3 million and above.”

However, Malaysia has also introduced the Malaysia My 2nd Home Program (MM2H). I found this statement, 

“MM2H participants can buy up to 2 units below RM500,000 with good reason & letter of support from the Tourism Ministry.” 

Foreign purchasers are also required to “apply state consent and pay 1.5% to 3% levy fee based on the purchase price after signing the sales and purchase agreement. It normally takes 6 weeks to 8 weeks for the state approval consent.

The following particulars are necessary for the preparation of legal documentations:

1. Copy of passport(s) – owner and co-owner(s), if any

2. Correspondence address

3. Contact – house telephone no, mobile no, office no, e-mail address”

Google “penangproperties[.]com” and you will be guided to the same resources that I just shared with you. 

In terms of other things, you might have to prepare for is the weather honestly. Not sure if you are a fan of the rain/shine seasons, but I know many expats find that as a charming side of Malaysia. In terms of domestic expenditure, the grocery is known to be quite affordable and eating out infrequently is something doable too. However, please note that most buildings are not pet-friendly. You might not be able to keep your pet dogs (or any other animals) in your condominium or any other buildings (even malls and grocery stores)

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I just realized that this project has Ferringhi Residence and Ferringhi Residence 2

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I think the pricing might somehow depend on the current promotion as well as the status of the unit (first buyer or secondhand)