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City Residence is an Ivory Properties Group project located at Tanjung Tokong, Penang (a highly promising area) said to be completed by the end of 2017.
City Residence comprises of 202 residential units on two 39-storey towers built above City Mall retail outlets. There is only approximately five units to a floor. The built-up area ranges from 460 sf to 5,600 sf, with choices of studio units, condominium units and penthouse units.
The facilities provided at City Residence are the basics such as a swimming pool, gymnasium, sauna room, children’s playground and barbecue area. Security will be taken care of with 24-hour protection. Other than that, the higher floors will have gorgeous views of the Penang city line, which will be a view worth paying for, especially in the evenings and nights.
The location of City Residence is considered strategic as well. Not only is it situated on top of its very own resident shopping mall, it is also just a stone's throw away from the food paradise of Georgetown and the highly sought after sea fronting restaurants at Gurney Drive.
Amenities like schools, banks and medical centres are all close on hand and residents will be highly contented living at this paradise as they will be well connected to town and the rest of the island by both Jalan Tanjung Tokong and Jalan Fettes outside their homes, of which the former connects to Jalan Bagan Jermal, Jalan Kelawei and Gurney Drive.
Public transportation is convenient as many busses and cabs pass through the main road outside the condominium. The only downfall to this property is that residents may have to go through congested traffic on Jalan Tanjung Tokong because it is a highly used road by Penangites.
All in all, though the price is rather steep, this beautifully designed mixed development, City Residence, would surely be appealing to individuals and young couples who are looking for cosmopolitan-styled homes and convenience.
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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 (%) |
---|---|---|---|---|---|
City Residence | 2017 |
RM970,000
-
RM1,800,000
RM 648 psf - RM 1,178 psf |
RM2,500 - RM2,500 | NIL | 6.51 % |
The Latitude | May 2015 |
RM700,000
-
RM1,200,000
RM 465 psf - RM 750 psf |
RM1,700 - RM1,700 | NIL | 3.01 % |
Taman Bukit Erskine | 2014 |
RM215,000
-
RM310,000
RM 328 psf - RM 476 psf |
RM650 - RM650 | NIL | 3.77 % |
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 % |
The Peak Residences | 2011 |
RM298,000
-
RM1,900,000
RM 389 psf - RM 718 psf |
RM1,200 - RM1,200 | NIL | 1.86 % |
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 649 psf | - | RM 348 psf |
1,000 - 1,500 SQ. FT | RM 504 psf | - | - |
1,500 - 2,500 SQ. FT | RM 573 psf | - | - |
2,500 - 4,000 SQ. FT | - | RM 2,566,667 psf | - |
4,000 SQ. FT and above | - | RM 4,325,000 psf | - |
Note:
Down Payment (10%) | RM 34,500 |
Loan Amount ( 90 %) | RM 310,500 |
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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