I-Santorini is an upcoming affordable but exquisite high-rise development by Ideal Property Group in Tanjung Tokong, Penang. It was previously planned for a 988-unit condominium project, but has been re-purposed for affordable housing.
Highlights of I-Santorini would be its close proximity to some of Penang’s attractions and destinations. These include the Penang Straits Quay Marina (5 minutes’ walking distance), Queensbay Mall (17km), Georgetown (9km), Gurney Plaza (1km), Batu Ferringhi (10km), Balik Pulau (2km), the Penang International Airport (1km) and the first Penang bridge (2km).
Located between Tesco Tanjung Tokong and Desiran Tanjung, you'll be able to find the place, if you follow the way to Marina Straits Quay or Tesco Tanjung Tokong.
There are three towers making up I-Santorini, comprising 2 parcels. Parcel 1 consists of 2 blocks of 48-storey residential towers (1,320 units) and 52 units of shop offices. Meanwhile, parcel 2 consists of 1 block of 49-storey residential tower (835 units) and 16 units of shop offices.
For residents’ convenience, 10 lifts will be servicing each block. Both parcels come with an 8-level multi-story carpark each and all affordable units have a standard built-up area of 850 sf.
When it comes to exterior, I-Santorini infuses the classy, laid-back Mediterranean architecture, inspired by the beautiful Santorini island of Greece.
As for facilities, the condominium offers a swimming pool, wading pool, jacuzzi, sauna, barbecue area, cafeteria, gymnasium, jogging track, playground, and tennis court.
Safety wise, I-Santorini will put its residents at ease with a guardhouse, access card system and CCTV surveillance. There are also fire safety features and flights of stairs on every end of each floor for escape purposes in case of emergency.
Units are launched at a standard price of RM430,000. To add there are also units priced at RM460,000, which will have better views of the waterfront.
All in all, the I-Santorini development is in line with the Penang State Government’s plan to provide affordable housing for the people of Penang and is a pleasing development with its unique Greek island inspired design.
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Did you know?
Check out the value of surrounding recently completed properties to make the best buying decision.
| Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
|---|---|---|---|---|---|
| I-Santorini | 0 |
RM460,000
-
RM588,000
RM 541 psf - RM 691 psf |
RM900 - RM900 | NIL | 3.73 % |
| Quayside | Apr 2017 |
RM980,000
-
RM26,000,000
RM 666 psf - RM 8,392 psf |
RM2,000 - RM2,000 | NIL | 0.8 % |
| One One Eight | 2012 |
RM465,000
-
RM850,000
RM 731 psf - RM 958 psf |
RM1,800 - RM1,800 | NIL | 4.2 % |
| Fettes Residences | June 2011 |
RM1,050,000
-
RM2,000,000
RM 433 psf - RM 1,000 psf |
RM2,500 - RM2,500 | NIL | 3.19 % |
| The Brezza | 2011 |
RM600,000
-
RM1,250,000
RM 480 psf - RM 912 psf |
RM1,500 - RM1,500 | NIL | 3.08 % |
| Fettes Park | 2011 |
RM690,000
-
RM4,300,000
RM 627 psf - RM 833 psf |
NIL | NIL | NIL |
| Straits Quay | Nov 2010 |
RM660,000
-
RM4,600,000
RM 761 psf - RM 1,422 psf |
RM2,000 - RM2,000 | NIL | 2.05 % |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
| Non-Landed | Landed | Commercial | |
|---|---|---|---|
| 0 - 500 SQ. FT | - | - | RM 645 psf |
| 500 - 1,000 SQ. FT | RM 715 psf | - | RM 348 psf |
| 1,000 - 1,500 SQ. FT | RM 993 psf | - | - |
| 1,500 - 2,500 SQ. FT | RM 728 psf | - | - |
| 2,500 - 4,000 SQ. FT | RM 818 psf | RM 2,566,667 psf | - |
| 4,000 SQ. FT and above | RM 850 psf | RM 4,445,455 psf | - |
Note:
| Down Payment (10%) | RM 43,000 |
| Loan Amount ( 90 %) | RM 387,000 |
| Tenure Years | 35 Years |
| Interest Rate | 4.85% |
| Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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