3 Residence is an ongoing mega-project by the renowned Malaysian developer, IJM Land. The development is situated along Lebuh Sungai Pinang 1 at Karpal Singh Drive. Currently, the condominium is still in its planning phase, thus, most of the details about the project are yet to be announced. However, what is known is that the project will be developed in two phases.
The first phase of 3 Residence will feature 2 blocks of 47-storey tall condominium residences, whereas the second phase is a 31-storey building with 6 levels of offices and a 330-room hotel. Homeowners of 3 Residence can expect the common facilities featured in a luxury condominium. Each unit of 3 Residence is estimated to be launched at prices of RM650,000 onwards.
The surrounding area of 3 Residence is very lively, with neighbouring residences such as Ocean View Condominium, The Summer Place, Nautilus Bay, The Spring and The Maritime residence. All of the mentioned residentials are high-end developments, which portray the status of Karpal Singh Drive that hosts mostly luxurious condominiums in the area. Besides that, Karpal Singh Drive is also known for its seaside promenade. Residents of 3 Residence will definitely have the opportunity to enjoy the relaxing breeze of the ocean as they sip on their coffee in one of the cafes along the promenade.
3 Residence is a home which enables complete convenience as most amenities are just minutes away from the residence. There is a mall called The Maritime Piazza Auto Mall located along the promenade. There are also various food and beverages outlets available there and it is starting to become quite a popular location. To add, there is a petrol station, a food court, fast-food outlet, several clinics and other amenities around the vicinity too.
In terms of accessibility, residents of 3 Residence can gain access to Georgetown by the Tun Dr Lim Chong Eu Expressway. The same route can also lead to the first Penang bridge, the Penang International Airport and even the second Penang bridge. Travelling within the Jelutong area via public transport should also not be a problem as the Rapid Penang bus service operates in the area.
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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 (%) |
|---|---|---|---|---|---|
| 3 Residence | 0 |
RM630,000
-
RM1,100,000
RM 539 psf - RM 923 psf |
RM1,800 - RM1,800 | NIL | 3.68 % |
| The H2O | 2016 |
RM735,000
-
RM880,000
RM 443 psf - RM 550 psf |
RM1,800 - RM1,800 | NIL | 2.67 % |
| The Maritime | Feb 2014 |
RM560,000
-
RM1,100,000
RM 666 psf - RM 1,157 psf |
RM1,800 - RM1,800 | NIL | 4.55 % |
| Hexagon Tech Park | 2013 | From RM288,400 | From RM1,540 | NIL | NIL |
| Summer Place | 2011 |
RM615,000
-
RM1,150,000
RM 607 psf - RM 838 psf |
RM650 - RM650 | NIL | 2.48 % |
| Sri Saujana Apartment | 2009 |
RM110,000
-
RM260,000
RM 169 psf - RM 417 psf |
RM800 - RM800 | NIL | 7.14 % |
| Desa Pinang 2 | 2009 |
RM250,000
-
RM265,000
RM 384 psf - RM 431 psf |
RM700 - RM700 | NIL | 3.29 % |
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 494 psf |
| 500 - 1,000 SQ. FT | RM 537 psf | - | RM 645 psf |
| 1,000 - 1,500 SQ. FT | RM 618 psf | - | - |
| 1,500 - 2,500 SQ. FT | - | - | - |
| 2,500 - 4,000 SQ. FT | - | - | - |
| 4,000 SQ. FT and above | - | - | - |
Note:
| Down Payment (10%) | RM 65,000 |
| Loan Amount ( 90 %) | RM 585,000 |
| 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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