The Cove Condominium is a new luxury beach front condominium with full condo facilities including a swimming pool, sauna and gym. Also provided 2 covered car park bays for every unit of condominium. The Cove Condominium is located at Jalan Tanjung Bungah which is a suburb of the middle upper class residential area that perfectly matched your status. The immediate neighborhood are the Dalat International school, Crown Prince Hotel, Copthorne Orchid Hotel and Sandy Bay Paradise Hotel.
Property Project : The Cove
Property Address : Jalan Tanjung Bunga, Penang
Location : Tanjung Bungah, Penang
Property Type : Condominium
Tenure : Freehold
Completion : 2007
No. of Blocks : 4
No. of Storey : 40
Total Units : 160
No. of Lifts : 2
Developer : City Associates Group
Standard Unit
No. of Units : 160
Units per Floor : 1
Built-up Area : approx. 6,000 sq.ft.
Facilities
24-hours security, 2 covered car park, swmming pool, wading pool, putting green, gymnasium, sauna, community hall, landscape garden, tennis court, BBQ-pit, cafe/restaurant, smart security system.
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59 comments
I am waiting for Foreclosure sales... How long will it take?
- GlobalEdgeInvestors Lurker
I notice a unit transacted at $1.35million. Can still get those unit?
Hi there,
Any one have info regarding block D 20 level and above? how is the price?
Thx and have a nice day.
Edgard
Hi, Edgard,
D20 and above is priced at RM2.6mil to RM2.8mil. I have 3 units available. Let me kno if your intrested.
Cheers;
Sam (registered agent)
I heard their maintenance fees every month is a lowly $380++. Is this for long term or only for a year?
Hi
Can you tell me if The cove has a good resident population or is it a ghost project.
I am thinking of buying a unit to live in but dont want to live in an empty building.
Thanks for your replies
Occupation rate is less than 30%
What happen with this project???Can owner share with us?? Why no one is moving into and most owner want to sell their unit?
Can owner tell me what happen?Why no one is staying there??Actually i plan to buy one unit there but now i need to consider again.
I would wait another 3 months as properties prices are falling world wide. Many speculators will be hard pressed to sell as they cannot pay the high mortgage rate in this desperate time. The longer you wait the cheaper it will get.
I would wait for another 3-6 months before moving in for a kill if you have cash. Many buyers are speculators and they could hardly afford to continue paying in such bad economic time. Watch price to drop at least another 20% within the next 6 months.
Hi I am a seriously looking for a unit and would agree that with the current economic outlook the prices will surely drop.Please let me know if any owner who is willing to sell around RM 1 Million.
Wait another 6 months those asking for 2 MIL will be lucky to be sold at 1.2 MIL. There ain't buying because the layout and location ism not that good. Road leading there is narrow and congested beside no shopping around the neighborhood. Since not many have move in unoccupied building(only 30% more then 1 year past taken OC) will run down faster then fully occupied.
I didn't need to get experts to predict prices will dropped 20% but the news follows. Also building that are not occupied like The Cove will suffer more. Less attractive to buyers.
See article:
http://www.apartment-penang.com/2009/01/what-experts-say-about-property-market.html
The Cove to drop at RM1.1 with nice view, higher floor is IMPOSSIBLE. I advise those ppl like "YoungDurian" to wait for Durian Runtuh or wait until neck long like Ziraffe also it wont be happen!!
Pls think twice and wisely, Pg property at nice location, spacious condo, highly demand location: the price can drop to RM180per sqft??
If the unit is nice, with some reno or without and within our budget, y not we consider on it, as buyer we did not suffer any loss? If we keep waiting, i guess until 5years still remain same and u will buy the so called 'Old Property'.
Penang's land is limited nowadays and I believe those highrank property selling price wont drop 20%. But, if for lower rank property such as apartment or flat, it may drop RM10K-RM20K. This is what i guess.
I've viewed few units at The Cove, and the selling price i got the lowest is RM1.35mil but not RM1.1mil as u all waiting for. I think those ppl trying to influence the pricing should stop it.
I do agree with it! If has that price also, we wont be able to purchase it bcoz the agent would purchase it 1st and earn from there again! So, its still same that we buy at price RM1.35mil or above.
Philip Island's unit dropped from 1.6M to 1.35M within 10 days?
I think you better sell it before the CNY or probably it will drop below 1M margin.
Agree dude,I dont mind to wait it drop until 1M or below.Most important is the high end condo having problem to look for buyer due to bad economy.
The economy is predicted to be the worst ever in Malaysia. Save your monies and wait for big sale in luxury condos!!! Speculators will have their rear burnt! High time.
Cove Resident
For all those who think that The Cove is under occupied please note that about 30% are absent owners coming here for holidays only and unmortgaged so not bothered about the short term market. The monthly maintenance is approx 780 ringgits and we are 90% collected so plenty of funds. Those who are trying to sell were being greedy before and now adjusting their sale price accordingly. Probably not more than 15 in total for sale and only 3 or 4 in block D which is the nearest to the beach. The maintenance is being run very well and the JMC is the strongest in Penang! The Cove will end up being a solid and worthwhile investment but as always location,location, location and Block D and high floors will win out.
I disagree with Cove Resident claiming the property is well located. The road fronting it is a bottle neck leading to the Penang swimming club and there is no shopping or supermarket within walking distance. Those people that buy are foreigners and most of them has been badly burnt by the world economic crisis-some might be forced to sell. Look like only investors will be locals only and most Penangites are known to be cheap so unless the price are cheap no one will buy the Cove. 20% dropped in prices is inevitable.
Just to keep everybody up to date on the gossip about The Cove - this condo is now running with good positive cash flow and security and maintenance strictly controlled. It is fast becoming the best place in town to live with terrific social life and wonderful neighbours. Eat your hearts out all those that were trying to talk the price down - you failed!
The developer of The Cove, one Mr. CA Goh is busy promoting his new development 'Centre Park' under yet another one of his companies, registered for the sole purpose of selling the condo and then liquidating so that there is no come back on him and his cronies. Apart from the niggling defects the truly serious part about this man's arrogance is that he sells property by pure misrepresentation. There is no Beach Club at The Cove, no Putting Green, the 'solid timber' floors turned out to be the cheapest laminate rubbish that you can find, shower doors were missing and as for the 'state of the art' security and communications system - haha! Non existent. He needs exposure and he needs to be stopped. The new development with its gorgeous gardens will no doubt disappoint all those people who still believe in the fiction that he puts out. The best part of his development is right there at his showroom on Gurney Drive. You have been warned. Buy at your peril from this man. Frankly I would most certainly not buy a used car off him, let alone an expensive property.
Young Durian is totally wrong - access is very easy to The Cove and there is a good row of local shops just over the road including a 24 hour general grocery store, chemist/pharmacy, baker, 3 restaurants, German bar, organic food shop etc. The little hawker centre serves good cheap food; there are several good restaurants within easy walking distance. The Cove is pleasantly full of a great mixture of residents including American, Australian, Italian, English, French, Canadian, Korean, Taiwanese, Hong Kong & Singaporean, Indonesian, Emiratees, Dutch, Thai, Malaysians (of course), Indians, Japanese, Russian...... Nothing is being reduced by 20% unless it is from those greedy local speculators who only bought to sell on. None of the above various nationalities are the sort of people who find themselves overstretched in today's economic situation. Everybody else is very much enjoying living at The Cove.
By the way Young Durian, on the point of maintenance I am glad to report that The Cove is running with positive cash flow, excellent security and strictly monitored maintenance. There is zero chance of this condo being allowed to deteriorate. There are almost no defaulters and those who are - guess what - those same greedy local speculators! Sad for them now being charged late payment penalty and interest so as usual being cheap will end up costing them more.
Penang Publisher
Make your mind up!1 You would not buy a used car from this man...but you go on about how fantastic the cove is? Please either it is a rip-off or it is the best ...! which?
I have seen prices fall at the Cove and I have only been looking for a few months! I think it will come down a lot more by 3Q 2009.
I will wait and see.
Penang Publisher
First you praised about how wonderful Cove is and then you mentioned of shoddy material used beside the developer's ill reputation and misrepresentation. I am beginning to have doubt about you with all your contradictions. Yes the Cove do not have easy access to shopping. It is only acrossed this ultra busy highway that you have to risk your life crossing it just to buy a tooth brush or roti. Apart from block D with unobstructed sea view the 3 others are much to be desired. Prices has been dropping since Jan. esp. with Condos like the Cove. Anticipate further dropped is eminent! So let's not argue and over time will review as it tell no lies.
I do Property Valuation & dont normally post my comments. However, in this case, i find the perceptions interesting & thought i will provide some constuctive inputs about the The Cove.
The current situation will move the market downwards. The assessment for Penang is approx 10% to 15%. The price drop will be driven by speculators trying to get out of the market. Speculator are rampant investors mid level propoerties. For premium properties like The COVE, most purchasers are real home owners ( either living there, renting it out or keeping them as holiday homes). These folks have the holding power & will typically will not need exit in a downturn. So, while you may get a few units that are going for RM 1.35m or so, it will be an exception. These units will typically be lower floor units.If you are interested, you should buy it. This is why...
As an investment, The COVE is wins top marks as the most well-rounded compound. The location is excellent (next door to the American international school, convenient stores, nice restraurants etc). The compound features are the best compared to any other Super Condo in Penang. The price per square feet is already the most competitive in the market. The management of the property is excellent (& have no cash flow problems)
Blocks A & D would be the best buys. Look for a unit that is higher than the 16th floor, as it offers the best undistruped view of the sea from all bedrooms. D is pricey (> RM 2.1m)as its closest to the sea front. Its seaview is great. Block A is cheaper (>1.6m)but offers a superb view of the sea + the surrounding hills+Tg.Bungah neighborhood. Block B & C are sandwiched on both sides by blocks A & D and would be valued a little lower (> 1.4million).
In summary, if you are looking for a 'cheap unit' any unit above the 16th floor that is priced a about RM1.5m + will be a solid investment. Look out specifically for units in Block A & D. The COVE is the best value for money amongts all the Super Condo's in Penang.
I hope this is helpful info.
Prices for luxury codos are falling:
"Owner and licensed auctioneer Leong Wye Hoong says more high-end condominiums, in the range of RM250,000, in the Kuala Lumpur city centre (KLCC) have been going under the hammer since the beginning of the year.
Many of the owners of the properties are expatriates who are looking to get rid of their properties while the prices are still high, he adds.
Condominiums in the KLCC vicinity are currently selling for RM1,200 to RM1,500 per sq ft versus RM700 to RM800 some three years ago.
“Prices for such properties have gone down by 10% to 20%. We have a handful of condominiums in the KLCC area up for auction next month and more may be coming up as borrowers default,” Leong cautions.
He foresees prices going down by as much as 30% for the condominiums, going forward, as supply currently exceeds demand and prices need to be low enough to attract bidders".
As I predicted. Other experts feel the same too:
Luxury apartment prices may fall as much as 20% this year in Kuala Lumpur, signalling weakening demand for high-end homes amid the global economic slump, CH Williams Talhar & Wong said.
as for youngdurian, he is a firestarter - you can see him in most property blogs, not just here. trust him at your own peril!
he makes the most embarassing comments and if he is penangite, then it's a shame to have him. you can obviously make out statements like foam walls, website not up, other developers do it so why not this developer, price dropping and all sorts of negativity everywhere and in all blogs. what's his motive? I suggest u email to tophill@email.com to find out. this is the email that he uses to SOURCE for property. So that may perhaps explain his modus operandi.
May i also add that websites are marketing tools and if the place is selling, then you don't need it. The developer is graded based on the ability to build properties, not website!
Final words to youngdurian is that your narrow-mindedness, your sense of understanding or perhaps even your IQ is a huge damn disgrace to penang!
Hi guys, you are quite right my comments are contradictory - the developer CA Goh and cronies are a bunch of liars and they cut corners where eve possible. Much of what they advertised never materialized and a lot of things in The Cove were wrong. All that aside, the position is fantastic, the space in the apartments is glorious and the people who live at The Cove are very sociable and friendly. Everybody that I know who lives there enjoys it - that is not to say that they don't complain about the developer - they do. The Cove does have a big advantage - a very strong JMC who has been fighting hard on the behalf of the owners and succeeding. Many of the defects have now been rectified and the rest will be - whether by the developer or the residents themselves. The cash flow is good; the maintenance is thorough and the security and staff excellent.There is an old saying 'bad start, good finish' in the case of The Cove it couldn't be more appropriate. Only 6 real defaulters out of 144 is a good record - most owners are paying their maintenance as soon as the demands go out and that says it all. By the way there are traffic lights which allow crossing the road as safe as anywhere else in the world.
Heard that the land at Tanjong Club next door has been sold and the Developer has intention to build 4 massive blocks of sky scrappers just like the Coves. If that is the case would the Cove's be devalued due to obstructed view by these 4 newer blocks side by side. Any confirmation?
guys, any idea about what will happen to the land next door at tanjung club.Understand they will be building a high rise condo.
Is it true that the land next (owned by the Country Club) to the Cove was sold? Seems 2 high rises was approved but now they are trying to change that to 4 high rises? That will terribly affect The Cove's view. No wonder so many Cove's owner are selling now. Once these 4 blocks are up The Cove Condos will have less of a sea view. Left side will be Hotel Copthorne view and right side "Country club new 4 blocks view. Leaving only the Cove's block D unobstructed. I anticipate that the price of the Cove will drop significantly once the 4 new blocks are up.
Buyers beware when buying any of Cove Condos A,B,C. Only Block E (end block near the sea) will have full sea view. The other 3 blocks will have it's entire right side sea-view blocked permanently once 1 Tanjong Condominiums are up next door.
Still got any block A unit at 1.4 to 1.5 M?
People are talking on The Cove and 1 Tanjung.
I just share my view here,
1 Tanjong selling RM550-RM600 / sqf
The Cove price now average RM300 /sqf
With 1 Tanjung appear, Cove owners are afraid of "slightly" view block and rushing for sale, if you want to invest, you may get best deal in this time or within these 2 years.
I find The Cove is the right time for investment.
Once 1 Tanjung completed, The cove's value will shoot to at least RM400.
What I mean the "slight" blockage is because The Cove has 360 surround view, even 1 Tanjong build, still they are many angle of views. I've checked on The Cove Blk A, and B, with 1 Tanjung's plan on hand, not a problem for me at all.
Just that you might not be used to it, if you are the Cove resident. If you are new to The Cove, you still find it has good view.
Beside that, The Cove has advantages over 1 Tanjung.
The beauty is The Cove has large landed landscape. (after compare with skyhome, springtide and infinity's lanscape), The Cove's Lanscape still the best, every child steps on The Cove landscape, pools or play ground, they sure love that place.
I heard 1 Tg's is planing to build a nice lanscape, but at car park's roof top, there always a discount.
The Cove has 1 floor 1 unit, 1 TG some has 1 floor 2 unit, although seperated by thick wall. But still prefer own floor if ask me to choose.
well it just my point of view
There's no CCTV at the lifts. People pee & shit at the lifts. Morons living at The Cove. Fiber optic installation have been stopped for whatever reason. Management run by people from the dinosaur age.
is there a football field?
Guys,
There is a unit at The Cove up for auction at the Penang High Court. 16th Floor. Block B. Reserve Price - RM2.5Million. Auction Date - 15 September 2015 . Interested , pls contact me at 016 403 1988 or at eugene70@gmail.com
Hi Dear Owners,
I do have a tenant looking for The Cove Block D Fully furnished unit. If any owner have please do drop by me a email or drop by me a call . My email is mycalvinlooi@gmail.com and my personal number is 016-4817926 . Thank you and very appreciate it . Have a good day .
Dear landlords,
I have expat looking to rent urgently at this area, kindly contact Elise 0174899705 for arrangement. Thank you.
The Cove, Tg Bungah, Penang
- Block A
- 6,000 sq ft, 5+1 bedrooms, 4+1 bathrooms
- 2 car parks
- renovated
- furnished
- move in condition
- partial sea view
- luxury facilities
- To Let at RM 7,500 negotiable
Fong Sien
Rich Hill Realty
H/P : (016) 492-7181
For more property listings, please logon to :
http://www.durianproperty.com.my/agent/fongsien
Looking for The Cove unit for genuine purchaser. Please text to 019-4469046. Thank you.
The Cove, Tg Bungah, Penang
- Block D
- 6,000 sq ft, 5+1 bedrooms, 4+1 bathrooms
- 2 car parks
- renovated
- furnished
- middle floor
- beach front
- luxury facilities
- welcome to co-broke
- For Sale at RM 3,600,000
Fong Sien
Rich Hill Realty
H/P : (016) 492-7181
For more property listings, please logon to :
http://www.durianproperty.com.my/agent/fongsien
Hi,
I have some units for sale and rent. Pls call or watsapp Anthony from Popular Realty. 0124333370 or 0124338798. U can also email to intradayman@gmail.com. TQ
Will try my best to negotiate for u. TQ and have a nice day.
high floor
fully renovated
fully furnished
asking 2.8m
more details or viewing ,kindly contact khing 016-4125033 tqvm
Blk C with Fully Renovated asking for RM 3.15mil and can sell with tenancy. Email / whatapps at summercfl84@hotmail.com / 012-5425819
Blk C with Fully Renovated asking for RM 3.15mil and can sell with tenancy. Email / whatapps at summercfl84@hotmail.com / 012-5425819
I hv few unit available for sale
Starting form rm2.5m to rm4mil
blk a, b, c and d i also hv
call Gary for more detail
0164403020
Hi,
I have some units for sale and rent. Pls call or watsapp Anthony from Popular Realty. 0124333370 or 0124338798. U can also email to intradayman@gmail.com. TQ
Will try my best to negotiate for u. TQ and have a nice day.
Owners who are willing to let go or rent can contact me too. TQ
Any Block D unit for sales? Whatapps 012-5425 819 / summercfl84@hotmail.com. Thanks
Hi,
I have some units for sale and rent. Pls call or watsapp Anthony from Popular Realty. 0124333370 or 0124338798. U can also email to intradayman@gmail.com. TQ
Will try my best to negotiate for u. TQ and have a nice day.
Owners who are willing to let go or rent can contact me too. TQ
The Cove, Tg Bungah, Penang
- Block C
- 6,000 sq ft, 5+1 bedrooms, 4+1 bathrooms
- 2 car parks
- renovated
- fully furnished
- sea view
- tenanted at RM 8,300 per month
- luxury condominium facilities
- For Sale at RM 2,880,000 negotiable
Fong Sien
Rich Hill Realty
H/P : (016) 492-7181
For more property listings, please logon to :
http://www.durianproperty.com.my/agent/fongsien
The Cove
- RM 2.45 MIL
- Freehold
- High floor
- 6000 sq ft
- 6 bedrooms, 5 bathrooms
- Fully renovated
- Fully furnished
- 2 car parks
WELCOME LISTING
SELL RENT BUY
ALL WELCOME BUYER OWNER AND TENANT
CONTACT: ALEX CHEAH 011-16551368
Hi Sellers and Buyers , kindly contact me if you have The Cove list for sale or Interested to know more for purchasing. I am an Specialist for this developement and will assist at my best.
Contact me for further discussion
Agent Bill ( Sincere Realty )
0124115228
Billyteh.properties@gmail.com
Www.billproperties.com
Cheers
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