Reflections Condominium

Reflections Condominium @ Setia Pearl Island is located in Sungai Ara, Penang. Comprising a single condominium block with a total of 315 units. The built-up area ranging from 1,077 to 1,512 sq.ft.

The Reflections Condominium facilities include swimming pool, wading pool, gymnasium room, jacuzzi, sauna, mini basketball court, squash court, children's playground, recreational / fitness platform, reflexology path, BBQ corner, viewing deck, landscape gardens, multi-purpose hall.

Property Project : Reflections Condominium
Location : Sungai Ara, Penang
Property Type : Condominium
Tenure : Freehold
No. of Blocks : 1
No. of Storey : 25
Built-up Area : 1,077 - 1,512 sq.ft.
Total Units : 315
Developer : SP Setia

358 comments«Oldest  ‹Older  1 – 200 of 358  Newer›  Newest»

April 5, 2009 at 11:42 PMprojectupdate

Anybody know the lowest price for the Reflection. If price at RM250k and below for smallest unit, it shall be nice price tag.

April 6, 2009 at 12:16 AMCKLOH

I asked the price in the fair last week,if I'm not mistaken,it should be >RM300,000.

April 6, 2009 at 10:08 AMSdr

When this going to be lauch or it has been launch?

April 6, 2009 at 10:22 AMUnknown

Yes i received similar information, above 330k or something like that. I think it's overpriced for Sg. Ara.

April 6, 2009 at 11:07 AMMy BB

Couple of months ago, I asked the price is starting from 358K. I'm wondering who on earth will buy this overpriced Condo in Sg ara?

Who knows ppl may queue up on launching day like Summer place. Properties in Penang is Hot Hot Hot.

April 6, 2009 at 11:42 AMPenangGuy

I also got the same data. Atleast RM300/sq ft and sometime they mention RM358k onwards and newspaper said RM338k onwards. 1 car park (mostly) and underground car park. I personally feel that this project is overpriced at Sg Ara. Furthermore the junction there always 'flooding' when there is a down pour! The 1048sq ft layout not so fine, if want to have better layout 1200 should be good. And what scenary you can have from there? I feel atleast need to buy 10th floor onwards which mean RM20k more atleast!

April 7, 2009 at 2:07 PMP

Location is quite far and price is higher than other new project eg.Summer Place but this is a freehold land.still consider whether to buy for investment...anyone can advise me?

April 9, 2009 at 1:28 PMUnknown

Hi, anyone compare Reflection with Mutiara Pica? Any +ve and -ve comment for both projects?

April 11, 2009 at 11:36 PMUnknown

Hi Home,i feel that Mutiara Pica is not worth to buy for investment or own stay as it is reclaimed land and also PDC is famous of delaying OC and design is very typical style...look like a low cost design...
I still prefer Reflection than Mutiara Pica and SP Setia is one of the well known developer in Malaysia which can give 18-24 month for defect period.

Althought i did not buy or own any property with SP Setia but visit a few times in their show units.Just my 2 cents thought....

April 11, 2009 at 11:58 PMKK88

but Penang, Sg Ara is lousy location as far as I know compare to Mutiara Pica. My friend also rather buy Southbay than buy SP Setia Pearl Island. Reason: Sg Ara is not preferable.

April 13, 2009 at 12:01 PMUnknown

i think it depends on the individual. Regency Heights also in Sg Ara, but still a lot of ppl staying there...

April 13, 2009 at 12:42 PMPenangGuy

Sg Ara not bad... Now Penang don't have land to build new project already. Mostly will be on reclaimed land, hill slope and Kompar, Sg. Ara...etc. But the problem for Refl is overpriced!!!

April 13, 2009 at 2:15 PMUnknown

Yea..propety price in penang are definite on the up side. Even though with the economy this way, prices are still high...

if wan cheaper property in penang, then go buy in butterworth...

April 13, 2009 at 2:45 PMgwsc

don't be over confident with penang property.
penang has been too dependent on semiconductor industry but now the competitiveness has been lagging behind other countries...
it will not come as big surprise if some of the big semiconductor company decide to move out from penang. by that time i think the property price in bayan lepas and sg ara will be most affected.

April 15, 2009 at 10:43 PMBK

I read somewhere close to 60% of the buyers of The Spring are investors, now cannot sell because OC delayed for few months. Their money are held there. The Summer Place also has many investors. You can see many recently completed projects are very vacant. Many investors are going to get burnt for the over-priced Reflection. I think there is a cemetary at Sg Ara, is it far away from Reflection? Can high floor unit see the grave yard?

April 15, 2009 at 11:07 PMUnknown

the graveyard is just next to setia pearl island. u will definitely have the view. noticed there is some sorts of "high rise" building being constructed behind the graveyard. any idea what is it?

April 16, 2009 at 2:47 PMBK

really??? scarry... eee....

April 18, 2009 at 11:13 PMUnknown

Heard this was a last minute change to squeeze in a condo behind the commercial. My 2 cent sharing: if you look carefully, you can almost use the word 'squeezed in' by looking carefully how this place is 'cut out' from the original commercial.
Just curious to know. Will you pay some premium price for something 'squeeze in' or 'cut out'? I think everyone has their preference. Your choice.

April 18, 2009 at 11:22 PMUnknown

I am a spsetia supporter. I was so full of anticipation for this condo. I thought it will locate in a nice spot at that area. But really disappointed when I saw this :(

May 9, 2009 at 11:31 PMUnknown

This project is better than mutiara pica and freehold...

May 10, 2009 at 9:27 PMBK

Near grave yard? Thank you very much.

May 18, 2009 at 2:39 PMUnknown

The price will start at RM310,000.00 for the smallest unit (1000sqft). will launch in July 2009.

May 18, 2009 at 2:43 PMAnonymous

I personally feel that Mutiara Pica is a much better development than the Reflection. It is becuase Mutiara Pica is in better location, better view, better size.

SP Setie is trying very hard to get cash already.

May 24, 2009 at 1:19 PMal

Hi All,

Just FYI, SP Setia gives out member get member point for introducer & buyer. For example when you buy a ~RM400K of SP Setia property for instance Reflection, SP Setia will gives you ~400 points and if you should put another SP Setia owner as introducer, the introducer will get adiitional ~1600 points. No changes to the owwer's points, still remain at 400.

If you put me as introducer, the points that I get I will give you 85% back. Since the point is not transferable, meaning i will exchange on your behalf for items worth ~1360 points. Each point is worth roughly RM1. The 15% is just a small token i took for my trouble.

This is a win-win situation since if there is no introducer SP Setia will just save those points/money.

If you are interested in any SP Setia property and my proposal, feel free to drop me an email at

Anyway don't worry that i will run away cuz i need to provide u my unit number & name to put me as introducer. moreover i have a few more than have join my plan.

June 3, 2009 at 9:27 PMAnNiE_Ng

anyone has the floor plan??

June 6, 2009 at 2:04 PMsinofi

I like this project, only one drawback, the entire development shares one access road. This includes residents of low cost,
link houses, condo n future commercial lots. Then out to the main road will include residents of the entire pearl residents.

June 13, 2009 at 12:09 AMUnknown

I just called up Setia Pearl Island this morning. This project is still KIV, and tentatively, soft launch on Aug or September. Price is RM350k above. From the above comments, many people dont like Sg Ara and its nearby graveyard. For me, i personally dont feel bad about the location. I have been to Setia Pearl Island twice in last week, the environment created by SP Setia is really peaceful. For those that love peace of mind after hectic day, it is a great place. Never have to worry about security and safeness. Most of those that enter Pearl Island are the residents or relatives, not the croud from the public. No one will disturb us. About graveyard, frankly speaking i also feel that it is scary. BUT, if you believe in feng shui, graveyard locations are the best in feng shui. But as long as dont go and buy those units that see the graveyard face to face la.

June 13, 2009 at 12:13 AMUnknown

If anyone receive any latest news on the launching, please inform ya!
I am considering it, as I love the concept of the lifestyle there.

June 16, 2009 at 8:47 PMBK

I think you get all figured out. Still need other people tell you about launching? If near graveyard, you hear people crying very often, it is just SAD. SAD place would never have good feng fui.

June 17, 2009 at 2:11 AMHAI

BK, do you know that singapore orchard road formerly is a graveyard too.But now is so 'ong' .

June 17, 2009 at 9:49 AMMy BB

This condo selling at almost 350 sqt and 3 story landed house sell at 300 sqt. If my fact is right , as you can see the landed property is much more cheaper that condo. I'm always wondering, why ppl do buy condo and always say that landed property is very expensive!!!

June 17, 2009 at 11:48 AMUnknown

I agree with Belle. chinese are very particular about feng sui when it comes to bury their ancestor back in those days. they would find a good feng sui area n bury their ancestor in believe that it could bring good luck/fortune to their current and next generation...

June 17, 2009 at 1:19 PMPenangGuy

My BB, if you calculated base on per sq ft then landed property is cheaper than condo. But don't forget, you need to times with total sq ft which really a big amouth for many people.
Feng shui is individual one, so hard to comment in general. But if wish to comment in general, the graveyard feng shui is for 'ying' ex-human. But so far, many of the feng shui books only say "try to avoid if possible, if can't then choose old old graveyard also okay". And graveyard is better if compare with temple.

June 17, 2009 at 8:35 PMal

Hi Belle,

wanna use me as your introducer? I will give u back 85% of introducer points

June 25, 2009 at 10:57 PMUnknown

al, so you are one of the purchaser of SP Setia property??

June 25, 2009 at 11:04 PMUnknown

BK, although i have figured out something, but even SP Setia havent finalise the launching, that is why i am asking about the launching date.. And I believe if we are confident that we have not commit any bad behavior to others, then no need to scare so much...

June 25, 2009 at 11:10 PMUnknown

I heard rumours that the reason SP Setia still on hold the launching is because they know that the property price for next year might increase, and the loan package of 5:95 will be end the chance for them to reconsider or reduce the price is not high..
Not sure how true is it.

June 25, 2009 at 11:17 PMUnknown

My BB, I heard that there are still 3 storeys teres at Pearl Island, subsale units available for nice price..i believe should be about below RM680k, i heard bout this from my friend which is one of the owner.

June 27, 2009 at 8:36 PMBK

Active graveyard is place to avoid when buying properties. You don't want to see the "ghost money" flying around your house now and then.

June 27, 2009 at 10:28 PMDrag


When you're considering this property, please check carefully and getting black and white from SP Setia for which is the access road entering the compound. If you're to access through Persiaran Nuri (or so-called Trial of Pritchardia), that means you are going to share the access road not only with 600 units of phase 1 and phase 2 landed, but also 350 units of the low cost apartment. The access road is only 2 lanes with 1 lane each direction, so you really have to ask them carefully how is this going to support the traffic of almost about 1500 units during office hour.

Sp Setia is a reputable developer, but yet, revenue comes first before other thing including your satisfaction after S&P signed. So please check carefully before commit. never trust what the sales person is going to tell you without having black and white as they hold no commitment on what they are telling you, you're warned ;)

July 1, 2009 at 10:36 PMAnonymous

Does anybody know when The Reflection is going to be launched and how much is the selling price?

July 5, 2009 at 11:18 PMal

hi belle,

yes. i am an owner of S P setia property. if u r intereset drop me an email at

anyone else interested drop me a mail as well. i give back 85% of introducer points.

July 7, 2009 at 4:29 PMstanvy

al, when you meant you're an owner, do you meant you own one of the unit for landed property there or working in SP Setia or CEO of it?

July 13, 2009 at 12:43 AMHomeDec Zone

Hi all,

I am an existing SPSetia house owner. I am able to beat all the offers that mentioned here if you put my name as introducer. I am Ms Ng, please email me at to know more about my deal! Thanks.

July 25, 2009 at 1:51 PMUnknown

anyone interested in this project? what r the pros and cons?

July 26, 2009 at 12:10 AMtyler

When this project is going to b launched? And how much the selling price per sf?

August 8, 2009 at 9:34 PMtyler

I plan to buy Reflections condo 1077sf unit. Can anyone pls share with me your opinion? Thanks

August 10, 2009 at 7:58 PMUnknown

1077sf only 1 unit per floor, should be >350k per unit and nothing is free.

August 12, 2009 at 8:26 PMAnonymous

how much?

August 13, 2009 at 7:21 PMtyler

The price is RM330 per sf and maintenance is RM0.20 per sf.. Do u guys think this property is over priced?

August 13, 2009 at 7:46 PMAnonymous

I think this property is over price. Regency Heights 1.28k sf,2 car parks and fully renovated only around RM380k..

August 13, 2009 at 7:48 PMUnknown

but I can tell u guy, the responce is extremely HOT!

August 13, 2009 at 8:18 PMAnonymous

where is the sales office?

August 14, 2009 at 4:15 PMRonnie

hi... i think i'll be booking a unit at reflections ... those who r giving back 90% or above reward points as introducer, pls write to me at

thanks :)

August 14, 2009 at 4:48 PMUnknown

i understand southbay will be previewing their condo by end of this year. low density with only 100 units. i will consider southbay rather than reflection.

August 14, 2009 at 4:56 PMRonnie

hmm.... southbay will have low densed condo by end of yr? does sound better coz that locations kinda better.

August 15, 2009 at 10:47 AMsinofi

Hi, can someone who is visiting, or has visited SP Setia for the Reflections soft launch pl update on the takeup rate? How is the response?

August 15, 2009 at 1:02 PMRonnie

Response wasn't close to IJM type hype but it was pretty good... they had their internal appreciation dinner for their existing customer & together with employees, I think these groups took up 30% of the units. All the smaller 1000sqft condos are finished.. the corner units selling fast but still have intermediate units.

Also heard from the sales dept that they've received a memo from KL to increase the sell price to RM350/sqft already.

August 15, 2009 at 1:12 PMAnonymous

I just visited the office this morning around 10.30am. And to my surprised, most of the units have been booked. When asked one of the sales person of the smallest size(1077sqft), the reply was "fully booked!". Only left 1260sqft which cost around RM450K which is way out of my budget. Is this project so attractive? Somebody please advise. Tq

August 15, 2009 at 2:26 PMJin

yup, was there this morning. Most of the lower floors facing northern side are taken up, except for the bumi units. Heard from the sales personnel that they are planning to increase the price...

August 15, 2009 at 10:37 PMAnonymous

this is over price condo. try 1 world 2, reasonable price, nice layout & right location.

August 16, 2009 at 2:38 PMalex

Went there just now. All corner units facing airport and smallest units are fully booked. What a good responde. It's definately a good sign for economy recovery. Cheers.....!

August 16, 2009 at 7:40 PMUnknown

I was there late afternoon today, and for the non-Bumi units:
a) Almost all the North-East facing units are sold out;
b) All the corner units overseeing the airport are sold out.

More than 50% out of the 70% non-Bumi units are taken up, which means only about 20% (60+ units) are available, and mostly South-West facing.

Economy recovery is on its way?? I'm sure everyone hopes the same.

Ronnie, yes, the price has gone up from 330 (15-Aug) to 340/sqft (16-Aug).

Anybody knows what was the pricing when it was opened for existing customer on 14-Aug?

August 16, 2009 at 11:27 PMMy BB

Today, i visited the sale office. Within 2 days, many units have been taken up. Very impressed.

First 100 units sold at 320/sqt. Now the price has gone up to 340/sqt. For those early bird had booked the unit, they earn at least 20k on the paper. Well done...

Again, as usual. SP Setia had Fireworks on last nite for the celebration..another successful launch....I enjoyed the firework, but not for my BB. TQ SP Setia..Next time, pls have firework event early a bit as my BB is sleeping after 10pm..she isn't like the louse explosion noise...

August 16, 2009 at 11:38 PMsinofi

First 100 buyers paid RM330 per sq ft. Increase of 10rgt per sq ft only for the rest.

I am also impressed, no details on the specs, no brochures and still sold so well.

August 16, 2009 at 11:45 PMBK

Response really that good? Must be from the property investors that cannot get their Light Linear. Anyway, newspaper mentioned Malaysia has oversupplied the houses last year by 10x according to its population growth.

If you are thinking of investing, very risky now.

August 17, 2009 at 11:21 AMUnknown

Ya, I came to know that mostly sold to internal staff who want to make a quick money.

August 17, 2009 at 11:39 AMRonnie

hmm... though i'm guilty of booking a corner unit facing the northeast, i still think it's ridiculously overpriced. Will think hard over this purchase as I still have 2 - 3mths before signing S&P.

August 17, 2009 at 12:09 PMMartinC

I just got insider information (which is reliable) that response for this launching was not even lukewarm, as only a handful of ppl turned up ...

So as to how all the salespeople could come up with "all booked", this and that craps...shows that there must be some kind of sabotaging going on ...

This coupled with the overprice tag totally makes sense...

People...proceed with caution

August 17, 2009 at 3:20 PMUnknown

May I know where the sale office is?

August 17, 2009 at 4:07 PMUnknown

Setia Pearl Island Sg Ara.

August 17, 2009 at 6:22 PMBK

Went to the sales office to check out the design. The smallest 1077 sqf one design abit weird, they put the dinning table in front of the entrance. Where got people want to put dining area in between entrance and sofa one? I guess the shape is out.

The location wise, it is located at the lowest end of setia pearl island, next to the sg ara road, which is not attractive as can only see the plain grass, no sea view for majority of the units. And carpark is from 1st to 3 floor, like N-park, very cramped.

Anyhow, most of the east facing units sold, west facing still got plenty to choose from. I think might be because facing the chinese graveyard.

August 17, 2009 at 9:02 PMUnknown

Hi BK,
i think north-east is the direction that facing the graveyard. Anyhow, this shudn't be a problem as the graveyard is quite far away.

August 18, 2009 at 11:52 AMJin

did anyone else managed to get a unit?

August 18, 2009 at 3:01 PMgwsc

i think the mid to high end property market will be due for correction when most of the people cannot afford it. we do not feel the over-supply now because they have been bought in bulk by investors and speculators.

August 18, 2009 at 3:05 PMUnknown

Mr. Business, you're really talking about Property Business!!

When buy/sell property in Penang, we are mostly fall under the following scenarios (especially landed property)...

1) After you buy and the property is completed, you regret that you should have taken another extra unit;

2) After you sell, you regret that you should have held it a bit longer.

And if you don't buy at all, you will continue to see the price going up.

What to do? The choice is ours.

August 18, 2009 at 3:57 PMBK

RM400 per sqf would not materialize for Reflection once completed due to its location and vast availability of land in this location. I even think the bulk purchaser won't gain much as the price is already too high, some recently completed unit subsell price is even lower than Reflection launching price, somemore in better location.

Look at Putra Marine super condo, directly facing the sea with bridge and pulau jerejak view, only asking for 350 per sft.

August 18, 2009 at 4:09 PMgwsc

hi Mr. Business,
i agree that the price is just getting higher and higher and may need to wait till Intel leave Penang for the correction to come. But the price cannot be sustained if the property price increase at the pace far greater than normal engineer's income increment. those who grad for the last 2-3 years has totally no chance to buy a new condo and they will not have any chance in future if the trend continues. Intel business is not growing so engineers will not enjoy good pay soon. the situation gets even worse when some of the projects especially IJM projects which are mostly bought by bulk purchasers and speculators.

August 18, 2009 at 6:02 PMUnknown

putra marine is cheap bec its leasehold
u can't compare its price with freehold reflections

August 18, 2009 at 9:19 PMBK

Location vs leasehold. Very interesting comparison. Anyhow, if you can go to Putra Marine showroom, you will be mesmerized by its view and build quality. And it is completed, while Reflection is just launched for a few days, risk is still high.

Landed house with sea view under 700k? You might want to check out Sri Tanjung Pinang or The Light, don't know whether any freehold landed house there sell less than $2M or not. Penang mainland maybe can.

August 19, 2009 at 9:20 AMgwsc

developer for putra marine, gold coast, putra place and villa emas is techware...good enough developer (limited to penang).
the 3-storey house from sp setia is not getting much appreciation after OC. i think the main reason is that with mostly small family nowadays, it's not practical to buy a 3-storey house...unless u r damn rich

August 19, 2009 at 10:09 AMgwsc

I think the price and the location is the main weak points.
If I am to buy, my purpose is to buy then sell, i.e. speculate. So it's frightening if 90% of the purchasers are buying with this same thinking as mine.
If I am looking for own stay, I think I have other better choice especially from the second hand property market.

August 19, 2009 at 10:53 AMAnonymous

another weak point is the rental return due to the location is far inside sungai ara, if the renatal is low, the condo appreciation value may not increase.

August 19, 2009 at 12:10 PMUnknown

hardly any expatriate want to stay there. if rent, gold coast and bays water a better place. plenty of supply at gold coast. Reflection, apart from the graveyard, tabung haji and mosque are just around the corner. Unlike Seri Tg Pinang and D' Residence, the access road present a good lifestyle concept with nice street scape and wide road. Those going back home to Reflection will have to pass through Sg Ara town, Kg Perlis = Sepuluh Kongsi. These areas are developed with blocks of low cost housing then in 1980's and 1990's. Also not forgetting that Mutiara Perdana has developed more than 1000 unit low cost flat and sharing the same access road to Setia Pearl Island. So, the 400psf may be realized only MAY BE in 10 years time? Hearsay Mutiara Pica by PDC will be going at 285psf. Cheak it out.

August 19, 2009 at 1:24 PMAnonymous

by considering the location, i would also think that the east of island is a better bet, such as bayan mutiara, the light, metro east area, owner can rent out with higher price. mutiara pica certainly a good buy compare to reflection based on location and price. only 1 weak point is the developer, as PDC tend to delay project, the project keep on delaying since 2007.

August 19, 2009 at 2:03 PMAnonymous

for own stay, i think reflection is nice considering the whole area is setia pearl island residential, with nice lanscape by sp setia. but for investment, dun think it is a good choice with the location far away from town and the slightly higher selling price and maintenance fee.

August 19, 2009 at 2:13 PMUnknown

Pica project keeps delaying. Not sure it will get materialized soon. Reflection is good for residential stay as most of the buyers are from genious buyer. Admiting that the price is little bit higher but it may serve as better residential area as far from town. For rental income generation, you may right that there will not be a lot of expats, maybe the workers from Bayan Lepas FTZ Phase2/3 will rent. But beware the rental rate will not be more than RM2K?

August 19, 2009 at 5:05 PMgwsc

ppl buy sp setia 3-storey house b'cos of gated/guarded concept and have condo facility. normal condo already gated and guarded with facility, so why ppl would want to pay a premium to sp setia for this condo?

August 19, 2009 at 9:53 PMRonnie

lol.. 'brand premium' kononnya... absolute nonsense :P

August 19, 2009 at 10:40 PMUnknown

Mr Business, nonsense business you have. what a "brand premium"!! LOL~

August 19, 2009 at 10:43 PMRonnie

i think mr biz must be on sp setia payroll :P :D

August 19, 2009 at 11:09 PMVoice

If you're really waiting for Pica, you probably can forget about it, as I heard that our CM is not approving the project.

Not sure what's cooking in his mind :(

August 19, 2009 at 11:23 PMBuzzle

Why would one want to pay 20% premium to a self 'branded premium' developer that do not have pool of fans make up by happy Penang based customers with positive testimonial?

August 20, 2009 at 10:42 AMAnonymous

actually, brand premium really exist in this market, we cant deny it.

every product also hv brand, like LV bag, BMW car, this product is selling with higher price, reflect status of riches and of course with quality as well, so rich ppl still willing to buy it with higher premium.

this is also apply to property. project by ijm, spsetia, mahsing certainly price higher than other developer, but still ppl prefer to buy from this branded developer.

it is like buying car.if not afford, then buy proton local car. for rich 1, then buy bmw, simple theory. if continue complain and cant accept this simple theory, then one only will continue become looser in this big fish eat small fish market.

if cannot beat the riches, then join them. haha.

August 20, 2009 at 11:04 AMgwsc

I agree there is brand premium but not too much of it.
Having said that, there are quite a few reputable developers in Penang, for example Techware (Putra Place), Airmas Group (Desa Airmas), Hunza, Chong Company, Palmex (Desa Ria, Regency Heights). So to pay a little more is okay but not too much.

August 20, 2009 at 11:11 AMgwsc

Hi nic,
BMW and Proton are simply two different categories. Totally different qualities.
It's like comparing The Cove to apartment.

August 20, 2009 at 11:13 AMAnonymous

Yes, gree with yo uthey are diff category, just want to give an example on the branded and non-branded.

August 20, 2009 at 11:15 AMgwsc

higer risk higher return. those who bought d'piazza built by X-Scan (doubtful background), will enjoy a lot of gain after OC.
lower risk lower return. so i think reflections is in this category.
i din say which one is better. both got pros and cons.

August 20, 2009 at 11:22 AMAnonymous

own stay, i will choose reflection, but investment wise, d-piazza may hv better return.

August 20, 2009 at 1:45 PMUnknown

I ask the SP Setia Sales what is the selling point and y 400psf for the Reflection, no 1 can answer the simple question. this is becos of SP Setia is Premium Brand?
if 400psf, I perfer Bays Water rather then Reflection. at least the rental for Bayswater is confirmed good and good demand.

August 20, 2009 at 8:40 PMUnknown

Captain, of course SP setia can't give you an answer as the price have not reach rm400 psf yet, it's only rm340psf, up from rm330psft when launch.

August 20, 2009 at 10:07 PMBuzzle

BMW is branded premium because their existing customer agree so, especially on its safety and performance perspective. My friend drove BMW hitting a mature cow on the highway at 120KM/h at night; the cow died on the spot while he got few scratches on his face. Try that with proton.

It's not that you claim that you're premium means you are. It's up to your customer rating to make you premium.

Do we have a group of happy Penang based SP Setia customer whom already received the key would like to share positive testimonial for this developer? Do you think it justify to pay the premium price, and under which perspective you saying so?

August 23, 2009 at 10:56 PMPenang101

I do not mind to pay a premium for developer's good reputation, ability to deliver and good quality of the houses.

August 28, 2009 at 1:31 AMUnknown

SP Setia is a premium brand???? Please don't speculate here, just go and check the current Phase 1 and Phase 2 houses built by SP Setia. There are so many defects, the materials they used even worse than the local developers. Lately the home buyer found out that they don't even have roof insulation for their houses in SPI. I think even some low-cost houses in penang will have roof insulation.
So, i just wonder where is the premium you guys keep talking about here? Pls show me examples

August 28, 2009 at 9:19 AMgwsc

Hi Just,
People said SP Setia is a premium brand based on their past success stories in Klang Valley and JB. SPI is their 1st project in Penang.

August 28, 2009 at 11:37 AMUnknown

Then I guess SP Setia either failed to deliver their "premium" in SPI in Penang, or they so called "premium" just the same as some of the local developers in penang???
In that case, why people want to pay extra for this for nothing ????? Please give me a specific example, not just based on their adviertising.
Example like:
(1) workmanship?
(2) material use?
- main door
- bathroom door
- bedroom door
- main gate
- Brick
- roof structure
- wiring
- Tiles

(3) QC?
(4) Design?
- Practical/friend design?
- TNC meter location?
- copper pumb readiness for hotwater for the whole house, or solar ready?? I heard SP Setia really care about environment. So is the house they sell a solar ready one? or easy to upgrade to solar?

So can anyone here give me a good reason why i should pay premium price for this developer.

August 28, 2009 at 11:42 AMgwsc

they are good in landscaping...create a nice environment (jogging track, recreational area etc) in the residential project, setting up the infrastructure and adding value to the property.
this is their success in KL & JB.

August 28, 2009 at 12:44 PMPenangGuy

I agree with JUST. Should visit P1 and P2 then you will know.

August 28, 2009 at 2:33 PMUnknown

Hi gwsc,
For SPI landed in Phase 1 and Phase2,
(1) Could you help me to identify where is the jogging track? Don't tell me that the road share with the cars is SPI jogging track. Then all the Taman in Penang all have jogging track.
(2) The SPI so called "recreational pond" in the central park is actully just a RETENTION POND !!!!!!!! A ulgy RETENTION POND which is not even owned by SPI. You can't even allow to go in. Many Taman in Penang also have retention pond, just in case you don't know.
(3) Ok, try to be fair, other part in central Park in SPI actually quite nice. But, lately a lot local developpers in Penang also started to do landscaping.

For Reflection:
I think a lot of condo in Penang also have recreation area, such like The Spring, so how would it be different than others?

If someone call a retention pond as "recreational Pond" in their marketing, and you are willing to pay a premium for it. I have nothing more to say here.

August 30, 2009 at 1:49 AMgwsc

hi Just,
calm down. in my comment, i din say SPI is good. i'm just trying to explain to u why some ppl said SP Setia is a premium brand. I'm quoting based on their past projects in klang valley and JB. u can argue but i'm in no mood to argue with u. i have no mood to say good words for SPI also. i am just sharing wat i know.

September 7, 2009 at 9:46 PMpenangkia

does anyone know what is the selling price for Reflection psf now?

And any package like 5/95 available for this project?

September 8, 2009 at 9:05 AMUnknown

Hi Jason, did SP setia allows you to transfer your booking to another person?

September 8, 2009 at 10:47 AMpenangkia

I taught cannot transfer to other owner?
SO pricy for RM340 sq ft. Any promotion during the lauch?

September 8, 2009 at 12:00 PMUnknown

yup, i don't think can transfer, except to immediate family members only. During launch, price is only rm330 sqft and have the option to buy 2nd carpark.

September 8, 2009 at 2:27 PMUnknown

Hi Penangkia and all,

Let's leave the issue on the transfer for the time being, and the key thing is whether you're interested. I'll address the transfer separately.

The deal is definitely subject to the ability to transfer, failing which you'll not have to make the payment.

I think it's a fair deal.

September 8, 2009 at 8:43 PMpenangkia

Hi Jason,

Thanks for your good intention. But i prefer one for investment.
The size is too huge. Ending up it cost more than 500k as what mention above.

September 11, 2009 at 3:54 PMKY

Just to share my view, SP Setia and other developers in Penang, really using "Parang" for pricing. Prices they put all are 3 to 4 years up-front, they knew many Penangites are crazy for house investment, that's why they use "PARANG" to chop and chop, end up all will buyer "RUGI". Next 2 to 3 years plenty of Condo or houses will be build, take your time folk.

September 12, 2009 at 11:56 AMUnknown

Went to the property fair yesterday. All the units facing north are sold out except for about 3 to 4 units at the lowest floor and bumi lots. Not sure whether there's a price increase for the remaining units....

September 12, 2009 at 11:27 PM34 Man

Heard that North-East and South-West facing is not good in feng sui... Some more, the mountains surrounded are 'stone mountain' which is not good in feng sui also. Any idea?

September 13, 2009 at 9:03 AMBK

Wow, so fast already have people wanted to let go their unit. I believe there are many similar people out there want to take quick buck by just transfering name. IJM and SP Setia all same one.

September 14, 2009 at 9:49 AM34 Man

RM360? Worth?

September 14, 2009 at 2:11 PM34 Man

If 1 or 2 years later still launch at RM350 per sq ft, and for me, Teluk Kumbar location is ok... Still cheaper than Reflection.

September 14, 2009 at 8:33 PMUnknown

wow...price went up from RM330 to RM360 per sqft within a month!...penang property prices really sky rocket...

September 14, 2009 at 8:49 PMUnknown

Mr. Business,

Don't forget that the price was 320/sqft before 15-Aug when it was opened to their existing purchaser.

Hmmm...I saw Jason in his offering to transfer his booking. Do you think it's worth considering??

CB, my take is that if the price for Teluk Kumbar 2 years later = price for Sg. Ara now. I think Sg. Ara is a better choice due to it's surrounding. Teluk Kumbar has a lot of low cost flats around.

September 15, 2009 at 9:08 AMAnonymous

Hi Jeremy,
I personally won't take it. For someone else, he/she need to consider if the old price still apply.

September 15, 2009 at 9:30 AMUnknown

where got RM320psf before la. the initial price already RM330psf already. sometime just don't understand why here provide unaccurate information.
i m not at setia side but must fair to the reader here. ppl try to obtain info from this site and if provide unaccurate info here will mislead ppl.
public unable to get old price anymore.

September 15, 2009 at 9:46 AMsinofi

Hi all, I was informed by one of the staff that they allow transfer only if u can prove that that person is related to you.

From the main road traffic lights access to SPI, I was told by Ideal during the property fair that there will be a proposed road cutting across the new Ideal development (thereby making the traffic lights a T junction). This will add easy access to the airport and additional access to town for SPI residents.

September 15, 2009 at 12:00 PMUnknown

yup, checked with them yesterday. As at today policy before signing sale & purchase agreement setia might consider to allow you transfer to your sibling, spouse, children(18 years old onward.

September 15, 2009 at 8:59 PMUnknown

Wint, the rm320/sq ft is true. This price was valid during the soft launch only. For unit with 1260 sq ft, the lowest floor selling at rm403k.

September 16, 2009 at 9:48 AMUnknown

If not mistaken, RM320 psf is for the first few 100 buyers only during the soft launch and after that, SP setia increased the price to RM 330 psf. Those early buyers that got it at RM320 psf is really worth it.

September 16, 2009 at 1:34 PMUnknown


sp price calculation is different than other developer. the initial price of RM330psf is at 11th floor. below 11th floor per floor is minus RM1,500. maybe from there you get RM320psf.

i m one of the 100 buyers, i bought 6th floor. my selling price is 1260sq.ft x RM330-RM6,000=RM409,800. from there you may say that i bought at RM325psf.

September 16, 2009 at 7:59 PMUnknown

Hi Mr Business,

yes, upon completion plus the inflation i estimate the price can reach RM450psf. Hence, what is RM360psf now? eventhough if now the price is RM380psf still can buy for investment.

September 16, 2009 at 11:32 PMpenangkia

Agree..price will sure be up due to appeciate of land in Island, Inflation. What more if economy is on the recovery trend.
But then, there will be more option to opt for instead of only Reflection.

Moreover Reflection is not on a very strategy piece of land comparing to E-gate Bayswater or I-Regency. Just my 2-cent.

September 17, 2009 at 9:41 AMgwsc

rm450/psf is over optimistic. just need to look at the existing SPI 3-storey sub-sale market as ur reference.

September 18, 2009 at 2:03 PMUnknown

Condo overlooking the seafront from Mahsing Southbay is a better bet. Indicative price at only RM300 psf is already 10% lower than Reflection. Visit Setia and Mahsing site and just compared the environment and ready infra. Ask yourself which has better potential?

September 20, 2009 at 8:36 PMUnknown

Are you sure that the indicative price is only RM300psf? I went over to Mah Sing booth during the property fair last week and what they told me is that the condo is still in the planning stage and they don't even have any indicative pricing, lauching date or layout yet.

September 21, 2009 at 8:37 PMKK

jin, i went to g-hotel to check out as well. info given was 1000-1500sf with indicative price from rm300-350sf. preview early next year.

agree with CL, southbay is definitely a better bet than spsetia, even southbay terrace is much much better than setia terrace.

September 21, 2009 at 8:49 PMUnknown

strata landed better than individual landed? is that a new trend?

September 21, 2009 at 8:56 PMDrag

In term of MahSing's location better or Sp Setia's better -- I think it is debatable and mainly depending what your priority is.

In term of sea view: yes, go ahead to MahSing (but this is applicable to high rise only, not terrace).

In term of pollution, no doubt Sp Setia is better. MahSing project at Batu Maung is located at the industrial zone and 2nd link, which means more traffic, on top pollution generated by the factories. In contrast, Sp setia project is located in Sungai Ara residential area.

September 24, 2009 at 6:16 PMUnknown

how does sp setia calculate the price increment per floor? anyone can explain?

September 25, 2009 at 5:14 PMUnknown

they set 11th floor as the base line, RM360/Sq Feet. Every one level down, they will reduce RM2000. Every one level up, they will increase RM2000.

October 5, 2009 at 2:08 PMUnknown

when the layout will officially out?

October 6, 2009 at 2:34 PMPaulz

wow....damn crazy price, nowaday developers is very smart, their goreng by their own like IJM at the spring, before launching i ask the price is around RM230k, when their see have good responds their rocket it to RM300 onwards at launching, the winner is them not small investors like us, so goreng penang house should be carefully, we still have a lot of land to develop, the new projects in penang is overprice since the supercondo can sell at the very good price due to foreign investors, their bring US$ and SG$ money to here, and this make penangites imagine penang house should be expensive.
and this will be a crisis one day like internet crisis, everything goes too fast and too high will be go down again to balance it, good luck , guys.

October 6, 2009 at 2:36 PMPaulz

like low cost house at 90s can sell at very good price but now all die already, now is the apartment and condo turn, what the next?

October 18, 2009 at 1:21 PMAnonymous

So is this Reflection condo sold out?

October 23, 2009 at 9:05 PMAnonymous

hello, SPsetia project buyer.
if you want to purchase any home unit, feel free to sign me as an introducer, we can share the points to redeem electrical and home appliances.

kindly email me at or
mobile: 012-4469880

November 5, 2009 at 9:29 AMMy BB

Anyone know what is SP HomeOwnerShip package for Reflection? What is the offer on this package?

November 21, 2009 at 4:38 PMUnknown

Any body know this project is formally launch yet? Looks like the not much advertisement done on this project.

November 22, 2009 at 8:19 AMUnknown

Not much of advertisement is due to it sell like hot cake during the pre-launch session, not much of unit left now. Wait for bumi units to release in future and the price will be at least 30% more.

November 24, 2009 at 6:10 PMUnknown

Price is high and still sell like hot cake. There must be something very special about this condo. Excellent facilities? Or it is classify as luxury condo?

December 12, 2009 at 5:05 PMAnonymous

To the interested,

If you plan to get my booked unit, lets do it before end of the year as I just received an email from the developer, claiming that 5/95 scheme has been approved by some banks. Please kindly drop me an email as above for further follow-up.

December 18, 2009 at 11:40 PMUnknown

Pls comment on this.....

If Sungai Ara area, Condo with 2000sf-2400sf buying at RM 240/sf is it worth for money?? (with standard facilities like swimming pool, BBQ, sauna, play ground etc).


December 19, 2009 at 12:43 AMUnknown

Dodobird, r u refering to Zan Pavillion Condo which is 2000sqf? I been to that area, it filled and surrounded by lot of low cost flat, I will not want to stay there. If you compare it to Reflection - the SP Setia surrounding area is much more nicer. Pay a visit and you will like Reflection more than Zan Pavillion.

December 19, 2009 at 7:06 AMLeprechaungal

Hi all
Can i have some details on their 1500+ sq ft unit?current price and also what are the available units?any genuine owners willing to let go theirs?

December 28, 2009 at 5:29 PMUnknown

SP Setia just sent a letter to request the buyer apply loan now because the package before 31st Dec 2009 still can offer BLR-2.3% and after 1st Jan 2010 onward will no longer able to get this rate. Anyone already sign the loan offer letter? Any comment on which bank is giving more attractive package?

January 6, 2010 at 11:07 PMUnknown

The developer has just sent inform the purchasers that 2 types of show units will be opened for purchasers on 9 Jan (7pm - 10pm).

The same will be opened to public starting 10 Jan (9am - 6pm) daily.

It's excited to see the layout.

January 10, 2010 at 12:45 AMUnknown

What are the price, Home? And how much has the price been increased?

January 21, 2010 at 5:44 PMUnknown

At RM360 - RM380 psf, better wait for Mahsing Condo which is water front. Here, ppl talking about sea view????? increase by 30% later? Because near Tabung Haji and also mosques? Just wonder whether any highrise coming up across the road?

January 22, 2010 at 10:14 AMUnknown

Good luck to all the Reflection buyers.

January 22, 2010 at 10:50 PMVoice

Do you think Mah Sing will sell lower than SP Setia has reached ???

You can continue wait, and I wish your dream comes thru and comes true.

Penang Developers are different else where, you only see small or unfavorable developers selling lower than the "previous target" to catch the market, and typically by the CA Goh's project.

Mah Sing, SP Setia, E&O... Just continue to wait lah !!!

January 23, 2010 at 9:52 AMKK

reflection - 16 units per floor, typical low cost arrangement. 380psf that is ridiculous given the quality, surroundings, etc

E&O - 12 units per floor, 7 blocks over a thousand units. what is 4acre park, you pay for it, ok! seaview, what can you see at night? 700-800psf, too much!

mahsing - any idea how many units per floor? when will be the launch?

January 23, 2010 at 10:37 AMVoice

MahSing showed some plan during the Property in G Hotel last year, but nothing was firmed up yet. Not even sure whether the plan has been approved hence the launching.

My guess is that it will be another "ridiculous" pricing, don't you think so?

So far, I've not seen any developer in Penang "under-cutting" their price structure just to get the market. Anyway, property market is always hot, what cutting?? Basic business sense, right?

January 24, 2010 at 1:34 PM梹城男孩宝宝


Do you know that why setia has condominium project? if you know why then you won't condemn why Reflections condo has 15 units per floor. setia need highest density to make the commercial development better value. if without commercial development they won't have Reflections. same as french fries comes with chili sauce and not chili sauce comes with french fries.


I heard that mahsing is selling service apartment instead of condominium (anyone here can confirm?), I also heard that the propose selling price is RM400psf

January 24, 2010 at 7:56 PMVoice


I heard about the Serviced Apartment as well as it's on Commercial tariff. But I also heard recently that their plan is under review again to comply with local council.

Unless MahSing is willing to accept the booking fee (thru a stakeholder, like with SP Setia is doing now) you can never be sure.

If you see the Southbay Residence, the booking fee was taken almost 2 years before the official launching to sign the SPA. Price quoted during the initial booking was RM 730k (which was felt as very expensive in "that area"), but now it's almost 900k (like a hot cake).

One thing to learn from Penang property is, NEVER look at the past if you've not bought, otherwise you will always "am tui" (regret), simply because it is always "SO CHEAP BEFORE".


February 21, 2010 at 6:02 PMUnknown

I don't understand why people are so carried away with fully booked condos. Booking is a piece of cake. Anyone can walk in with a post-dated check and book an unit - easy peasy, not even a single cent needed. You can cancel for a full refund later if you want. Fully book is not a sign of how great a condo is going to be. It's just a combination of marketing gimmick by the developer (some units are not even booked, but marked as booked) and the ease of any tom dick or harry to put in a booking. Don't be swayed. Every new launch is fully book, there's nothing special. Evaluate carefully and put yourself in the so-called "waiting list" if you're interested. There's a 99.9% you'll be called up by the developer claiming someone is "letting go" of their unit.

February 22, 2010 at 6:30 PMAnonymous


Can you update us if Mah Sing going to launch Condo as I don't there is demand for service apartment in that area. Personally, I felt they should launch Condo as what other developer did.

February 24, 2010 at 12:11 PMUnknown

Reflections fully booked already??? i still see have units available when i was in setia office last week.

February 24, 2010 at 1:11 PMNEC Andy

Ya. There is still maybe 10-20 unit left (not really sure) when I went to have lunch at SP club House last week. But any how the design is nice and sweet.

February 24, 2010 at 11:17 PMUnknown

I'm comparing between SummerPlace and Reflections. What do you guys think? Reflections seem overpriced. I hate developers taking opportunity to increase price. Yet people like us still buy. *sigh*

February 25, 2010 at 8:36 AMVoice


On your question about Mah Sing, whether Condo or Serviced Apartment, it's depending on the land. I understand that Developer can't put Condo on a commercial land, hence it has to be a Serviced Apartment. Just like the upcoming Bayan City opposite Giant, below is commercial, and above is called as "Elit Heights designer suites with Condo facilities". Notice that it's not called as "Condo", and it's on commercial tarrif.

To KT, Moon, and NEC Andy,
If you're using the mathematical measurement to qualify on the "fully booked" statement, NONE of the project can be fully booked before completion, more so for highrise properties. There is always some left over (sometimes even after the project is completed), but...
a) To developers, the project is as good as SOLD OUT once they hit > 60% sales because the rest are their profit;
b) To buyers, some small remaining units are considered as left over, less ideal, or even unwanted units.

More strategic developers will even keep some good units classified under "Bumi Reserve" so that they can release & sell at higher price after "Bumi Release".

You can hate/dislike the developers, but don't forget that their BUSINESSMAN, and mostly Chinese in Penang Island. Question to you is - Do you like to stay in Penang Island??

February 25, 2010 at 2:49 PMLK Tan

their show units still available for viewing?

February 27, 2010 at 10:03 AMAnonymous

Thanks Voice. Do you think the Service apartment in Southbay is worth for invest ? What about the landed house or apartment/condo, which is better for investment in Penang island ?

February 28, 2010 at 12:04 AMp

is this in front graveyard? or facing any graveyard?

after become like desa golf... no one want to stay n cannot sell

March 1, 2010 at 2:06 PMAnonymous


The SP original land is actually a golf land. The graveyard is further, next to Mutiara School. You can refer to google map for better direction.

March 8, 2010 at 10:34 AMrayn

wouldnt the north east units at high floor will at least have slight view on the graveyard?

March 8, 2010 at 9:54 PMVoice


To me, if I can afford it, Landed is definitely more secured in the long run.

But apartment/condo should be for mid term, and definitely not on serviced apartments :)

March 8, 2010 at 10:02 PMAnonymous

Hi Voice,

What do you think about SP and SB, do you think the price will be much appreciated in the near future ?

March 10, 2010 at 9:15 PMVoice

Hi Stephen,

Only GOD knows the future, more so if you're talking about NEAR future.
Besides, I'm also learning.

Having said that, my observation from the past is that residential property is always good in Penang ISLAND. People started to accept upto Sg Ara and Batu Maung. Relau is upcoming, but Teluk Kumbar/Sg Batu will still take some time. Balik Pulau will be a long way to go.

March 11, 2010 at 1:10 PMAnonymous

Hi Voice,

Agreed with you. Many times thing never work up as we plan. Just do our part, and let GOD decide it. There is always pros and cons in investment but information sharing is a learning process. Thanks for you sharing.

March 16, 2010 at 2:15 PMUnknown

Booked a unit last weekend. Heard that the price will be increased again by 5% next month. Those who purchase during early stage will sure profit. I bought at RM360psf. If 5% will be RM378. No wonder they have a lot of loyal followers. The developer create $ value for their followers. Good job. I expect once it is completed it will fetched RM450psf.

March 16, 2010 at 3:30 PMAnonymous

Hi, guys. Do you all really think that a 1260 sqf condo at Sg. Ara this area will catch up >RM550K, using RM450 per sqft for calculation. Penang condo price at this area is too pricy.

March 25, 2010 at 4:24 PMRoman

Hi all, i went to SB this afternoon for the first time and found that the project is really huge. The 3-storey terrace house is definately worth for money (RM 800k++) in view of its location and quality of work from MS.

March 27, 2010 at 4:22 PMUnknown

Just went to the sales office and was told that the Reflections project will be officially launch next Friday. To secure the pre-launch price, we need to sign by next weekend. They will send out a letter early next week. Finally, no need to wait anymore.

March 31, 2010 at 8:54 PMVoice

You're right Mr. Business.

But one thing you may have missed out is that the Developer will sell at the latest price when it's "re-open" to public.

Don't you think so ??

April 1, 2010 at 2:07 PMUnknown

mr business, bottom line is u n them also want to earn $$ from property, so y u can do it n other ppl cannot ?

u r the third class so call investor that i ever heard.

April 1, 2010 at 10:00 PMUnknown

To the Reflection owner, mind to share the rate of loan interest offerred by your bank?
Is it a must to sign the S&P on 2-4 of April to lock the pre-selling price?
My loan still in processing..don't think will get any news within these 3 days...sigh

April 2, 2010 at 5:24 PMUnknown

Yup, just booked it in Mid of March. Too bad, there is no BLR-2.3% package anymore. Not sure what is the rate the bank would offer me.
What is your loan lock in period?

April 4, 2010 at 9:37 PMUnknown

loan update.. after survey for several loan package in mac 2010 found that pbb is the best...

1) pbb : all tenure BLR-1.9 lockin 3yrs from 1st release 2% pelnaty (almost waive when the property complete)

2) mbb : 1st 3yrs 4.75% thereafter BLR-1.8 lockin 5yrs from 1st release 2.5%

3) cimb : all tenure BLR-1.8 lockin 5yrs from 1st release 3%

now all bank cant offer BLR minus more than they change they lockin priod and pelnaty rate.

i booked my unit on july 2009 and i apply loan during that priod, there is much different:

4) pbb & mbb : whole tenure blr-2.3 lockin 5yrs upon completion for 3%.

after compare i will take 1) pbb offer bcz i bought this unit for investment. 1st 3 yrs interest will absorb by developer, so when its complete i can sell my unit anytime without 3% pelnaty(rm12k) . and the different 0.4% interest is about rm1600/anum(for loan rm400k) hope this info will help u guys...


April 4, 2010 at 11:27 PMUnknown

Are you sure the lock in period start from the 1st release as per my understanding most of the loan, lock in period is starting from the final release. If yes, this is good. Are you able to get the 5-95 package from Pbb? pls share the pbb contact, thanks. :)

April 5, 2010 at 1:10 AMsokohaw

That's how the developers trick all of us in Penang. They always tell us their sale is good, not many unit left, the price will increase after launching, from RM250/sgft to RM350/sqft and reach RM450/sqft in 3 years time....blablabla. So, all of us rush to grab one unit by using 5/95 package, hoping by paying 20k and get 200k after 2-3 years. Please wake up brothers & sisters, it won't happen anymore-lah. Even my SP Setia terrace house also loosing money to sell off, too many people are selling but no demand!!!

April 6, 2010 at 10:23 PMUnknown

So far, I found the PBB offers the better package as compared to the rest. Same package as kenjoe mentioned above. SP Setia offers no interest for the 1st 3 years or until completion and 95% loan. How can I get the extra car park?Can I just add the car park amount into loan amount?

April 6, 2010 at 11:07 PMVoice

Huwan & Kenjoe,

PBB's package sounded more attractive because of the 3-year lock-in from 1st release (if that's true).

But if the 1st year is not 0%, are you sure SP Setia is willing to absorb the interest?? My understanding is that most Developers who "claim" offering "FREE INTEREST" is because they're pushing the bankers to provide 0% initially, then charge higher interest later.

I suggest that you double confirm this with the Developer and Bank.

April 7, 2010 at 3:40 PMUnknown

Seeking advise !!!

For this project, I am an investor.
I have booked 1 unit during the soft launch period.
Approximately RM 400k ~ Type 1077 sq ft, 2 car parks, above Level 15.

I am hunting for clue and confident to get myself sign the S&P.

Good Point about this project
1) Well established developer ~ SP Setia, I suppose the project wont be abandon.
2) Quality ~ 75%, above average lar….. not as expected, though…
3) 5/95 package is affordable at this moment, need not to worry and pay till OC
4) I am the early bird where bought at RM 330 per sq ft and 1 car park with RM 15,000

1) I suppose that is the last development at Pearl Island area; and there is only 1 high rise development which is this project. After this project, SP Setia, walk off already?
2) If there is upcoming 2nd phase and 3rd phase of high rise development. I guess SP Setia will ensure this 1st high rise is reasonable price and ensure the project is being designed with good specification. So that, people will grab for the 2nd phase, ie. Platino is higher class than Bayswater.
3) Was asking the sales person, no one can confirm that, 2 x 2 is given inside the bedroom. Plaster ceiling or Suspended ceiling within the toilet, no idea?
What is the selling point of this project?
What is the range of development, as similar to Super Condo?
Luxury Condo?
2 air cond points provided only?
Air cond ledge for additional air conds?
4) Long corridor which don’t have privacy, no rubbish collection center at individual level.
5) During this 2 years, so many developer offering 5/95 or 10/90 package. By another 3 years, all of these projects, say 50% of the units bought by investor, Penang market able to absorb in another 3 years?
6) Those who stay and work in town, wont be staying at this project. Only engineer who work in MNC factory or the 2nd generation who live in this Sungai Ara shall consider to buy sub sale of this project.
7) RM 400k ~ Type 1077 sq ft, 2 car parks, above Level 15. Any other options of similar range of high rise meant the potential sub sale market. There are a lot, yet cheaper.
8) Completion of 2nd Penang Bridge, any positive impact to this project?
9) Is it over priced? Currently a condo with 2 car park about 1000-1300sf ft selling around RM 350,000 easily available – free hold tenure.
10) No commitment on Security System and access card by SP Setia.
11) Seems like bank is offering ‘speculation package” to the investor where by, pay 5% and sit back, waiting for sub sale buyer upon OC and without paying early settlement forfeit.

Any opinion is welcomed!!!

April 8, 2010 at 12:52 AMsokohaw

For own stay I have no comment. For investment, better think twice as many newly built condos are available around Batu Uban & Bayan Baru areas which are also selling at this range. As I said earlier, even SP landed properties are difficult to sell at this moment due to too many investors are selling.........

April 8, 2010 at 10:26 PMUnknown

I have checked with the banker, they said the first 3 years interest will be totally absorbed by developer. The bank will no longer offer 0% interest. So, I hope the developer will keep their promise.

Until today, no one is very sure whether the proposed commercial building next to Reflection will get launched. The salesperson told me that if the commercial building is not on, then they might have a plan to replace it with another high rise building (condo or service apartment).

I am going to sign S&P this Saturday. I bought it for my own stay, hope this is not a wrong choice.

April 8, 2010 at 10:32 PMUnknown

Loan Package:-

1) PBB - BLR-1.90, 3 years Lock in period.
2) Ambank - BLR-2.1, 4 yeas Lock in period.

Which one would you choose?

The BLR is definately going to increase soon.
The problem is would us be able to get better rate (i mean the minus rate) after 3 years or full release of loan?

April 10, 2010 at 8:33 AMVoice


Since you're going to take it for own stay, there is no diff between 3 or 4 years lock in period. Anyway, even if the BLR reduce, you will still be able to catch it a year later b'cos BLR doesn't just go low for 6 months.

0.2% x 4 years is already a good 0.8%, and BLR changes is typically around 0.25% each time (up or down).

On the non-ZERO for the 1st year by the bank, another banker told me that SP Setia will not absorb that. So I still suggest that you double/tripple confirm with SP Setia. Like I said, Developer is making use of the 0% by the Bankers to "subsidise" their marketing for "absorbing interest".

April 10, 2010 at 8:38 AMVoice


I do share your concern on Point (5), while the rest are less of my concern.

I'm worried about another "sub-prime" especially for the Peanng highrise & condo... Quayside, The Light, etc...

I hope I'm wrong.

April 13, 2010 at 10:10 AMUnknown

Dear all,

Don't make the same mistake that my uncle made years ago. Ever heard of common story a few years after a said property has been completed? 'Ai ya should have bought the unit'. Now the price has shot up to beyond my reach. Let's analyze the Penang market during the so called ' property boom time' back in 92'-96'. Those times where we have N-park, E-park, Sunny Ville and what not...Those were the mass production condo units @ medium cost level which Penangites had ever seen. Look at them today, all the units are occupied but....if the price is cheap, you will have foreigners staying there. Therefore the best is that to buy a unit of condo which is not within reached of bangla, indon etc. Don't get me wrong..they are great people but I just don't like having them as my neighbours, that's all. I have strong believe the price of properties in Penang still have room to increase as our selling price is relatively low compared to other regions. Remember land are scarce but demand is a correlation with population. Everyone needs a shelter. My 2 cents...

April 13, 2010 at 11:09 PMKevin

just to add some points to counter what Chris is saying... agree, price is shooting up at the moment and i myself have heard of that 'ai ya should have bought the unit'.... and since you mention about the property boom during the time back in 92-96, my father almost got screwed by the high BLR... so maybe you have the cash now to pay for downpayment and deposit etc... but if you're only buying because of the mindset or thinking that the price is only going up... then by all means make sure you can afford to pay for it... if you're talking about RM350k or RM400k property, and assuming you are getting 90% loan, pls take note that you are paying about RM800 to RM900 on interest alone every month and after paying the loan for 3-4 yrs, just take a look at your owed amount and see how you feel... i agree with your statement also on everyone needs a shelter, but i want to add... buy within your means... only 1 year ago, when the economy is 'bad' that time, people were fearing for their jobs...and now it's back to buy buy buy? :) good luck!

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