Ferringhi Mutiara Apartment

Jalan Sungai Emas, Batu Ferringhi, Penang

About this project

Ferringhi Mutiara is a rather aged development consisting of apartment residences and commercial shop lots located in Batu Ferringhi, Penang. Completed in 1996, there are 4 complexes, each 10 storeys in height encompassing 374 apartment units in total. Shop units make up the ground floor and first floor of each block while the other floors are all apartment units. Standard units at Ferringhi Mutiara are approximately 700 sf in built-up size with a common 3 bedrooms and 2 bathrooms layout. Facilities provided at Ferringhi Mutiara include common parking lots within the grounds of the residence, a community hall, as well as a children’s playground - all commonly found in lower medium cost apartments built in Penang around the same time. The cost of maintaining the property and its simple facilities is about RM70 a month for each unit. Ferringhi Mutiara homes are now valued on the market for about RM230,000 at its least, which is slightly out of the affordability range for lower middle income earners. Rental is also quite high for its age, size and location, at around a monthly RM950. Amenities are within ease of reach for residents of Ferringhi Mutiara, with eateries, sundry shops and other businesses housed within the commercial arcade of the property. Apart from that, there are also food stalls lining the main road in front of the property. Just across is a commercial hub where even more eateries, restaurants, banks, convenience stores, laundromats and more can be found. There is also a McDonald’s just beside the property. The nearest school to Ferringhi Mutiara is SK Batu Ferringhi with more choices requiring almost 20 minutes’ drive to the Tanjung Tokong area. There are no supermarkets or shopping malls in Batu Ferringhi, with the closest ones being Tesco Seri Tanjung Pinang and Straits Quay while Island Plaza is located in the Tanjung Tokong area. Accessibility wise, Ferringhi Mutiara is located along Jalan Sungai Emas, which links to Jalan Batu Ferringhi. Jalan Batu Ferringhi connects the property to other towns like Tanjung Bungah, Tanjung Tokong, and Georgetown (slightly under 30 minutes’ drive) to the south, and Teluk Bahang on the west. Jalan Batu Ferringhi is known to be congested during public holidays and weekends when there is a surge of visitors to the seaside town while Jalan Sungai Emas is also heavily traveled by those living in the other neighbourhoods and high-rise residences up the road from the property. Given its location, living in Ferringhi Mutiara is more suitable for those working in the Batu Ferringhi area. It may not be feasible for those working in Georgetown or even Bayan Lepas to live so far away from the city and travel the winding Jalan Batu Ferringhi to and from work on a daily basis. Credit by : Propsocial ( 30.12.2019 )
Tenure
Freehold
Asking Price (Sale)
RM 230,000 - RM 250,000

Location

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Past Transactions

Transaction DateAddressBuilding TypeFloorsLot SizePrice PsfPrice

Historical Monthly Price Range & Volume

Affordability

  • Down Payment (10%)RM 0
  • Loan Amount (%)RM 0
  • Tenure Years0 Years
  • Interest Rate0%
  • Loan Amount 90%
  • Down Payment 10%
Monthly Installment

RM 0±

Mortgage Provided by Hong Leong Bank

Maintenance Fees

RM 0 ±

RM 0 psf (0 sq ft)

Total Monthly Expenses

RM 0±

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