Setia Pearl Island


Setia Pearl Island is a township development located at Sungai Ara, Penang by SP Setia. Setia Pearl Island is well located at the heart of modern conveniences with linkage to network of roads, bridges and expressways. Conveniences are further enhanced with the availability of landmarks such as Penang International Airport, Free Industrial Zone, shopping complexes, colleges, golf course, Penang International Sport Arena.

Setia Pearl Island comprises 6 Isles, each with its individual style & theme.

The Isle of Life
Alstonia, Ardisia, Carica, Eugenia, Carallia

The Isle of Aroma
Angelica, Jasmine, Lavender, Rosemary, Plumeria

The Isle of Conifers
Aura & Caria, Cedar, Cypress, Juniper, Caribea, Casuarina, Pearl Villas

The Isle of Palm
- Semi-Detached Show Village

The Isle of Discovery
- Future Development

The Isle of Views
- Future Development

Property Project : Setia Pearl Island
Location : Sungai Ara, Penang
Property Type : Terrace, Semi-Detached
Tenure : Freehold
Developer : SP Setia

38 comments

July 17, 2011 at 7:35 AMAmin

Should wait. Don't buy yet.

50% of the total units are still in the hand of investors.

Let's see how long they can hold.

The macro-economic outlook is not on thier side.

 
July 17, 2011 at 8:42 AMTIMAS

wait long long

 
July 21, 2011 at 3:31 PMDD

It has been more than 2 years since OC obtained for Phase 1 & 2. Those who can hold for last 2 years highly likely can hold for another few years.

 
July 21, 2011 at 4:10 PMcondomana

Is there any point holding something that you cannot sell and don't intend to use? Who is the ultimate beneficiary? Of course, the developers and banks...:)..Well, if you guys keep insisting on stuffing money into their pockets, not much can be done...:D

 
July 21, 2011 at 4:29 PMM

Hello everyone,

I know this is not the site, but can someone tell me about houses in Taman Pekaka - how is the area? and what are the prices for the terrace houses there now? thanks. M.

 
July 26, 2011 at 3:06 PMsara

the pearl villas that going to build by the slope along the access way, do you guys think will it make the whole SPI better, or make thing worst like congested, ...

 
August 1, 2011 at 12:55 PMAnonymous

not many post lately... very boring... and quiet... what happen to investors or house buyers or agents? nothing to post about SPI? ZZZzzzzz....

 
August 1, 2011 at 4:58 PMjc

Is there any SP Setia blog where we can get some info related to SP Setia??

 
August 6, 2011 at 11:15 PMAnonymous

Looking at the current property market, SPI is no doubt one of the most affordable good place to stay in Penang.

 
August 14, 2011 at 3:53 PMBryan Tan

A genuine buyer who opts for stay would prefer SPI over other new launch projects that tends to be speculative in its nature. I would agree its sub-sale price is still affordable to many working couples.

 
December 31, 2011 at 5:08 PMbeehui

Recently not much "on sale" stickers seen in Phase 1 anymore.... is that a good sign?

 
January 6, 2012 at 5:18 PMrayn

To SPI owners, is the tv reception good with tv antenna? Or do I need to opt for astro?

 
February 7, 2012 at 1:04 PMtan

SPI speculators will face tremendous pressure from One Residence, Two Villas and Tree Residency.

There are still many units around in SPI.

Be ready to hold for another 2 yrs at least.

 
February 7, 2012 at 4:29 PMBryan

Hi tan, i think it's too naive to assume there would be no speculators in one residence projects. Any property launched before last year tends to be highly specuative due to easy loan and little down payment. lucky thing is SPI went thru that phase and has come out from the selling pressure 2 years ago. If I were to be future buyer for own stay, I would prefer SPI not only from ready units perspective but also from investment risk perspective. Just my 2 cents.

 
April 13, 2012 at 1:56 PMBryan

I believe many "seaside property" investors must be praying very hard during April 11th earthquake and Tsunami Alarm. This should send them a strong reminder on the supreme risk for such property investment and I believe more to appreciate the solid granite rock and high round that SPI builds on.

 
April 15, 2012 at 10:46 PMHAI

According to American media, within this 10 years there will be another strong earthquake in the same area.But Seri tanjung pinang is selling at a crazy price.

 
May 1, 2012 at 4:21 PMBryan

HAI, it seems that putting a few yatchs and getting few pubs does help to lure more investors there and pay rocket high price for the property...and surprisingly no one bothers to talk about the abnormally low occupancy in Sri Tanjung Pinang...whether the high price of Sri Tanjung Pinang can be sustainable or just a market hype, we shall see in the next round of market correction...

 
July 3, 2012 at 9:52 AMBrenda Ooi

Jazzel & guys,

<RM800k will be hard for SP Setia. Perhaps you can buy the Persiaran Kelicap double storey houses with around 1400sqft - 3000sqft land size and 1800sqft build up with <RM800k. I can still see some on sale at www.mudah.com.my.

I think they won't be there for long when people realise that area since more and more people know about Sg.Ara now with SP Setia + One Residence projects.

 
July 29, 2012 at 5:42 PMKevin

Lavender selling for RM850k... is this considered a good price?

http://www.mudah.my/SP+Setia+Terrace+1400sq+Lavender+Sg+Ara-16915337.htm

 
July 31, 2012 at 7:39 PMlim

Do not buy yet.

The investors are facing a lot of competition (due to oversupply of Landed Hse in Sg Ara/Relau) from One/Two/Three Residences, Sunway Merica, Setia Green, Sentral, Bayan Residence, Setia Vista ...etc.

 
July 31, 2012 at 9:23 PMDD

@lim
Wow. This is the first time in last 5 years I have heard Penang landed property is over supplied. Anyway, since Setia Setia OC in 2009, we have seeing lots of comments of oversupply of landed in Sg Ara area. Hoping price to drop. Unfortunately, prices continue to climb. Especially for Phase 1 and 2, owners without holding power have already disposed/sold their properties. Remaining are those for own stay and those with holding power. So do you think SPI houses will drop in price? I wish too. But doubt my wish will come true.

 
August 1, 2012 at 1:30 AMStanley

My advise to all property owners be it Setia projects or others. House are roof over our top. It doesn't matter whether the price goes up or down. If we like the house we bought, we will stay there for the rest of our life. We never have to sell it just to earn that extra thousands in exchange for another smaller house in a different neighbourhood or a bigger one in a place where we lost touch with neighbours we know for many years. For those who buy to invest, just ask how much you earn when you buy at 500K and sold it for 700K, then buy it at 800K to sell it for 1000K. It's better to hold it and never sell it because in the end of the day, the value will still keep on increasing. Be wise and think hard before making any move. The price of the house is based on the value we get when we stay in that neighbourhood, not what the price set by the market. If it's difficult for you to find a replacement, why should you worry so much about the market value? Hope you can see the wisdom in my comments.

 
August 1, 2012 at 7:23 PMtan

We see a few investors renting >$1M Semi-D in Sg Ara (Zan Villa) to foreign facotry workers with 20 people per house.

They are frustrated and desperate because they cannot find buyer and tenant.

Does it mean oversupply?

 
August 2, 2012 at 9:48 AMDD

@Tan
there are owners/investors who wanted to wait for even higher price. Thus, not wanting to let go for the time being. Fearing not able to get a landed house after sold the current ones. Thus, renting out to any tom, dick and harry to get some passive income for time being. Sad but it is the fact. Ghee Hiang Residence will be selling >1.6m for 20x69 terrace, and >1.9m for 20x80 in Batu Lanchang. IMHO, ridiculous price, but it is developers' market now.

 
August 2, 2012 at 1:23 PMUnknown

Shouldn't support this type of developer. It spoil the whole market. When there is no demand the price will drop.

Let the developer sell to their own relatives and friends

 
August 2, 2012 at 3:21 PMDD

@Unknown
Problem is, there are always people with tonnes of $$ in Penang to snap up properties especially landed houses in prime, limited land area. :(

 
August 2, 2012 at 3:44 PMUnknown

Terrace house 1.6 million definately is too expensive cannot untung anymore. People who snap the properties all is the developer themself. The real buyer is very few. Just immagine in the market how many people can effort to buy a terres house for RM1.6 Million. Graduate salary only
3K .
Bussiness man also not so stupid to get a house for this wonderful price
Southbay in Batu Maung want to sell 1 Million also so susah already don't talk about 1.6 Million in Batu lanchang

 
August 3, 2012 at 6:10 AMlim

房貸萎縮12%
分析員表示,儘管商業貸款維持健康,但卻不足以抵銷家庭貸款申請疲弱利空,其中6月房貸申請按年萎縮12.2%,顯示銀行業者依據國家銀行推行的責任放貸指南,轉而實施更嚴謹放貸活動。
聯昌研究也表示,受到消費貸款項目走低影響,特別是6月房貸按年挫跌12%,整體的貸款成長潛在放緩,加上賺幅受壓抵銷投資銀行收益強勁利好
但提醒住宅貸款面臨的下滑風險最大
http://biz.sinchew-i.com/node/63488?tid=23

 
August 3, 2012 at 8:33 AMSTCY

Bro, southbay cant even get 1mil already. At least 1.2m or 1m facing TM station.

Tg tokong EnO terrace, last transaction 1.9m. SemiD 2.8m.

 
August 3, 2012 at 9:07 AMUnknown

Go to Mudah.com You can easily get 1 million or 1.03 million for southbay.
1.2 Million wait long long loh got price no market.
ENO terrance transaction is for people who refinancing. Anybody also can refinance their house at higher price to get done the transaction.

 
August 3, 2012 at 9:19 AMSTCY

Did you call the agent who post in mudah ?
They will say, they have.
You told them, you dont want jalan southbay 7.
If they have unit below 1.15m.
You can just chop my head down ...
*Peace

Dont just see, please call and ask.
I dont like mudah advertisement.

Fyi, a lady from alor setar just bought 1 unit in southbay 1.2m and 2 units sold at 1.15m last mth

How you will refinance, if the value is not there. Right?
U have condo, currently 500k. You walk in for refinancing, will they finance or you at 600k ?

 
August 3, 2012 at 9:46 AMUnknown

STCY the message you post seem like you are one of the southbay owner.

There is a few units of southbay which would like to sell below 1.15 Million. You can call any agent they are happy to help you.

The bank will mark up the market value of the property just to get the bussiness. 500K condo can also refinance at 600K lah this is the banker who told me.

 
August 3, 2012 at 9:53 AMSTCY

Sorry, im an agent.
And my client looking for it.

Already call the agent, thats why im so sure.

 
August 3, 2012 at 9:56 AMSTCY

Bank can fo it, its all depend on valuer.
My senior is a valuer for 20years, they have license. And they cant simply quote its illegal.

 
February 26, 2015 at 8:42 PMAnonymous

http://www.epbt.gov.my/osc/Borang_info.cfm?ID=235608&NoForm=Form2
Permohonan Kebenaran Merancang Bagi Cadangan: a) Merobohkan Rumah Kelab Dan Struktur-Struktur Sedia Ada b) Cadangan Untuk Mendirikan 3 Blok Pangsapuri Kos Sederhana Yang Mengandungi: i. Pangsapuri (Blok A) 25 Tingkat (173 Unit) ii. Pangsapuri (Blok B) 26 Tingkat (181 Unit) iii. Pangsapuri (Blok C) 26 Tingkat (181 Unit) Dengan 1 Tingkat Ruang Rekreasi Dan 6 Tingkat Bawah Tanah Tempat Letak Kenderaan Di Atas Lot 11930 & 70046, Mk 12, D.B.D., Persiaran Kelicap, Pulau Pinang
SPI phase 3 jialat dy

 
May 24, 2016 at 5:37 PMAnthony

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.

 
December 2, 2016 at 1:11 PMkevin lim

Setia Pearl Island semi-d for sale: Rm 1.7mil

3-Storeys Semi-Detached Houses Aura type @ Isle of Conifer, Setia Pearl Island

Land size 32' x 80' sq ft (2,560 sq ft)
Built-up approximately 3,214 sq ft

new and original
Auspicious house number, road number & the house faces north-east.

New and original unit with a balcony on mid-level.
Gated and Guarded area.

For more information or To view the unit, kindly call Kevin 017 4987068

 
December 7, 2016 at 5:22 PMAnthony

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