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Property Review Video Contributed by iherng
Straits Residences in Penang is a serviced residence development by Kerjaya Prospek Property Sdn Bhd. It is situated along Jalan Seri Tanjung Pinang, next to Straits Quay Marina Mall, and offers cosmopolitan seafront living a stone’s throw from Georgetown, further enhanced with privacy features.
The lifestyle development offers 246 freehold units with built-ups from 861 sq ft to 1,356 sq ft. Launch prices for the project ranged from RM1.02 mil onwards to RM1.80 mil onwards, or an average of about RM1,180 psf.
Home buyers and prospective investors can choose from six unit types offering 1-bedroom or 2-bedroom layouts, which have been designed to maximise use of space. All units are equipped with smart home technology such as digital door locks and voice assistance, providing convenience to residents while increasing value of the homes overall.
Leveraging on Straits Residences’ scenic site, unit types A, E and F come with a marina seaview, while type D is beautified by a panoramic seaview of Gurney Drive. Meanwhile, types B and C can choose between a view of the sea or Seri Tanjung Pinang itself.
In terms of pull factors, Straits Residences caters for upmarket sensibilities with its colonial architecture and design, along with amenities attuned to the needs of modern families.
A recreational deck located on the 29th floor of the building features an infinity lap pool, jacuzzi pool, wading pool, function room, gym room, nursery, children’s play area and pool deck. Roof top facilities include a barbeque area and roof garden.
The project’s location is a plus point, as it is situated within the luxurious neighborhood of Seri Tanjung Pinang, reported to be Penang Island’s largest masterplanned seafront project. The 12-acre development is strategically placed between the serene hills of Batu Ferringhi and bustling Gurney Drive.
It also benefits from proximity to the Straits Quay mall-cum-marina, which offers a wide range of attractions from boutiques, bistros, seafood restaurants, seaside cafes and bars to boat rides all set against the backdrop of a scenic waterfront environment.
In addition, the lifestyle shopping mall offers amenities such as grocery and local specialty stores, catering for the needs of residents in the project as well as the surrounding area. Tesco Seri Tanjung Pinang is also just a 10-minute walk away, for added convenience.
For those who want to enjoy the best of both worlds, they can take a 10-minute drive down to Gurney Drive to savour local delicacies at Gurney Drive Food Street, which is right next to the Gurney Plaza shopping haven.
Given the scarcity of land on Penang Island itself, many new developments are concentrated towards Batu Kawan, near the Second Penang Bridge. This positions Straits Residences as one of the few remaining high-rise gems to be found close to Georgetown, with a price tag to match.
Should the Penang Transport Master Plan proceed as proposed, the project also stands to benefit from proximity to the Tanjung Pinang monorail station in the Tanjung Tokong line, providing connectivity to further points of interest.
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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 (%) |
---|---|---|---|---|---|
Straits Residences | Dec 2020 |
RM941,850
-
RM2,200,000
RM 846 psf - RM 1,486 psf |
RM3,000 - RM3,000 | NIL | 3.44 % |
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 % |
Straits Quay | Nov 2010 |
RM660,000
-
RM4,600,000
RM 761 psf - RM 1,422 psf |
RM2,000 - RM2,000 | NIL | 2.05 % |
Avalon | Apr 2009 |
RM4,000,000
-
RM4,000,000
RM 888 psf - RM 888 psf |
RM7,000 - RM7,000 | NIL | 2.1 % |
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 3,050,000 psf | - |
4,000 SQ. FT and above | RM 1,071 psf | RM 5,474,286 psf | - |
Note:
Down Payment (10%) | RM 102,200 |
Loan Amount ( 90 %) | RM 919,800 |
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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