Fettes Residences

Fettes Residences is situated in Tanjung Tokong, a new condominium project by IOI Properties. It is just located opposite the Prima Tanjung Business Centre and only a walking distance to Penang Island Plaza.

Fettes Residences consists of a single 35-storey condominium block and has a total of 195 units with average built-up area 1,800 - 2,000 sq.ft. There are also 4 penthouses of 4,000 sq.ft. Most of the condominium units will have seaviews.

The neighbourhood apartment blocks of Fettes Residences include Tanjung Park, Desa Tanjung and The Brezza Condominium.

Property Project : Fettes Residences
Location : Tanjung Tokong, Penang (Property for sale & rent in Tanjung Tokong)
Property Type : Condominium (Condominium for sale & rent)
No. of Blocks : 1
No. of Storeys : 35
Total Units : 195
Built-up Area : approx. 1,800 - 4,000 sq.ft.
Developer : Palmex Industries Sdn Bhd (IOI Properties)

Photo taken by KP - 1st Jan 2011

Photo taken on 31 Aug 2009

Photo taken on 15 Feb 2009

To upload your photo here, please email your photo to apartmentpenang@gmail.com

Site Plan

Floor Plan Type A

Floor Plan Type B

Floor Plan Type B3

Floor Plan Type C

Floor Plan Penthouse Type A

Floor Plan Penthouse Type B

Location Map

«Oldest ‹Older 1 – 200 of 368 Newer› Newest» 368 comments:

November 10, 2008 10:31 AM Rowen said...: May I know what is the price from?
And is it opened for sale already?
November 10, 2008 10:32 AM Rowen said...: Is the project started?
How much is the price?
November 10, 2008 11:38 AM Faryna said...: Fettes Residences construction already reach the 3rd floor. Not even launch yet. But I hear its its ard RM700K+-.
November 17, 2008 4:13 PM Hsiens said...: 800k ++
November 24, 2008 1:09 PM smart said...: I'm waiting eagerly to buy one unit here. When does IOI launch this project ? And the starting price from and square ft ?
November 24, 2008 1:55 PM oasis said...: i heard selling around three quarter millon 2 millon
November 26, 2008 12:08 PM Hsiens said...: how big is type B3 ?? Anyone know?
December 15, 2008 8:46 PM Faryna said...: There are 3 sizes here. 2000SQF , 2007SQF AND 2470SQF. Six units per floor. Price range from RM808K and above.
December 19, 2008 10:45 AM Felix The Cat said...: According to the sales personnel. On the 19th Dec. The showroom might be ready for viewing. At the moment, only the invited guests by the boss's close friends know about the showroom.
December 21, 2008 9:16 PM Anonymous said...: I went to see the showroom. 6 units per floor. Around RM400/sq ft. Unit 5 is by far the best unit. Prices are unexpectedly reasonable given the good location and their solid reputation.
January 28, 2009 2:49 PM pp kaki said...: free or lease hold?
February 18, 2009 1:37 AM tan said...: it's a free hold land
May 3, 2009 6:58 PM elearnblog said...: Anyone know when the condo will be open for sale?
June 10, 2009 11:03 PM jean said...: hi
may i know how much for d penthouse ? tq
June 12, 2009 10:48 AM gabriel said...: I am panel banker of this project any enquires of the mortgage consultation pls give me a call...

012-4415321 gabriel yeap

aishitema09@hotmail.com
June 23, 2009 6:23 PM king said...: any units avaiable ?

looking for a units with high floor

please reply.

thanks
June 24, 2009 10:27 PM am said...: Possible that developer will drop price to stimulate the sales of Fettes?
July 1, 2009 3:24 PM Lim said...: am interested in the studio. is it a good buy? i intend to buy for rental or 2nd home. i'm comparing between this project and tanjung park. 1 bedroom vs 3bedroom. or should i buy landed in sg ara, SP Setia? any advise? by the way, i'm not buying for own stay.
July 6, 2009 12:17 AM Hsiens said...: Hi Lim, you are staying alone or with family?
July 6, 2009 1:39 PM Lim said...: Hsiens,

with family. i plan to rent out the hse for now. not sure how is the demand for 1 bedroom studio.
July 8, 2009 9:06 AM Hsiens said...: Lim, is the studio sufficient for you and your family? As i know there are still some studio units left.
July 8, 2009 10:55 AM Lim said...: Hsiens,

my budget is around 400k. i plan to buy for rental as of now and keep it for future retirement home. preferably near gurney or tanjung tokong area. not batu ferringhi. do u have any proposal? or no way to get such price condo besides tanjung park and gurney park?
July 8, 2009 10:56 AM Lim said...: Hsiens,

only left few units with better view. the rest are facing car park. just like E&O suites. all car park facing. selling at 525k.
July 8, 2009 2:02 PM Hsiens said...: hi,

i see... 400k investment to collect for rental, there are a lot of other places out there but if considering keeping for future retirement, a good view is a must...
July 12, 2009 1:58 PM Citysleeker said...: Lim -

Suggest you take a look at The Brezza. It is just right in front of Fettes Res. As it is priced as a leasehold development (though convertible to freehold anytime soon), it will offer great rental yields.
July 14, 2009 1:29 PM Lim said...: Citysleeker,

I know Brezza is cheap for this kind of location. But i don't like to invest in leasehold property. by the way, r u sure they can convert to freehold? est when? what's was the price when they were having soft launch? and what's the price now?
July 14, 2009 3:03 PM Hsiens said...: i went to see Brezza after viewing Fettes Residence, you feel the difference ... :)
July 14, 2009 4:23 PM Citysleeker said...: Lim -

Suggest you drop by UDA's office at Prima Tanjung (GF). They will answer all your questions. I guess it is best you hear directly from the horse's mouth.
July 14, 2009 4:25 PM Citysleeker said...: Hsiens -

The Brezza is going for RM300+ psf and Fettes about RM500+ psf for the better facing. The former is in a better location compared to the latter. Am not condemning Fettes but just look at the surrounding areas.
July 14, 2009 4:33 PM Lim said...: is there any showroom for brezza? what's the density?
July 14, 2009 4:33 PM Hsiens said...: we pay peanut and we will only get monkey... : )

dont know y i dont have good feelings for lease hold properties.

so sleeker have you heard of seri tanjung pinang is launching new terres at 1.1 mil? Is that true?

Tanjung Tokong has a TESCO coming up?
July 14, 2009 5:12 PM Citysleeker said...: Hsiens -

The entire side of housing from UDA to Tanj Pinang is slated to be freehold.

Part of the deal UDA had with govt is to convert the leasehold title to freehold eventually. I heard it has been approved and now just pending for UDA to settle the payment. If you ask UDA, they will tell you the full story.

Yes! Am aware of the new terraces at Tanj Pinang. All sold out within a morning. Intermediate starts from RM1.1mil and sea fronting corner unit sold in a ballot for a cool RM2.9mil. Amazing isn't it? This place is slowly but definitely turning into a playground for the well to do.

E&O has sold a plot of land with building to Tesco but this project is delayed for the time being as Tesco is requesting for a later opening. It will be there eventually.
July 14, 2009 5:15 PM Citysleeker said...: Lim -

go to

http://www.apartment-penang.com/2008/01/brezza.html

not sure if the showflat is ready yet. there is supposed to be one soon in actual site.
July 15, 2009 5:44 PM Hsiens said...: hi sleeker, thanks for the info. I am still prefer confirmed free hold land and the trust of IOI Prop... wish me luck... i am buying 1 units at Fettes Residence.
July 15, 2009 6:10 PM Lim said...: hsiens,

i agree with u. i also prefer confirm freehold land. did u buy the 2400sq ft? they have done away the free MOT package. which i have missed 8k++ promotion. they will increase the price in 24 jul. i have not purchased any yet cause studio is not so practical, although the concept is nice. i think i should swith to 3 rooms condo eventhough i will use it as weekend stay. the price 800k-900k for tanjung tokong area. i also considering gurney area. by the way, what's the assessment for tanjung and gurney area?
July 16, 2009 9:18 AM Hsiens said...: Hi Lim,

800-900k at Gurney, we can only get either a lease hold or a super old condo. 1 of the reason that I picked up fettes residence is because it is new and room of price appreciation is still there.

You are using for weekend stay? Ermm... You are not malaysian?
July 16, 2009 9:46 AM Lim said...: u r right. pg1 is around 700k ++ to 800k but old building. i prefer to invest in something which i can use it when i need it in future. i don't want to invest in something which i can only rent out but i don't like to stay there. yes, i am malaysian.
July 16, 2009 9:52 AM Hsiens said...: so... come and be my neighbour :)
July 19, 2009 12:10 AM Faryna said...: Can see that FR is gonna be a good place to stay.
July 24, 2009 10:31 PM Lim said...: i heard they r going to increase the price effective 24jul. is it true? how many %?
August 22, 2009 12:23 AM angeline said...: People at this side very calm and write nicely. (Unlike some of the side I visited). Hee.. I presume if you buy property Fettes are friendly neighbours. Anyway if you happen to look for Flexi Housing loan don't forget to call me at 019-4721704 or email to kooieng.quah@cimb.com.
August 22, 2009 9:43 PM Lim said...: I'm looking into type 2B and 3A. Any comment on this 2 units?

How about type 5B and 4A, does the unit has cemetery view from the bedroom?

Any advise on the best unit to choose?
August 25, 2009 12:02 PM Sue said...: Are there any sea view units left. If so,which of the above floor plan would that be and how much are they? When will the project be completed? Am a genuine buyer. Any info and advice would be much appreciated. Thanks.
August 28, 2009 5:10 PM Hsiens said...: Hi Lim and Sue

I think type B unit 2 & 5 is good but unit 5 already sold out.

Reason being is that it is corner unit (more sun light emmited into the house) and balcony & some of the room has sea view.

I think we wont notice the cemetery and it will be blocked by various of buildings and the view of the mountain is nice.
August 31, 2009 2:05 PM Sue said...: Thanks Hsien for your info. Do you work for IOI or are you an agent? I'm interested in getting more information especially about available units, on which floor, sea view, how much and payment schedule. I'm finding it difficult to get info from the company. By the way, I have seen the showroom in January. Is it Type A? I live overseas. Any info from you would be much appreciated. Thanks.
August 31, 2009 4:48 PM Hsiens said...: hi Sue,

I am just a buyer. what kind of information that you need? Understand that the office only serve people who walk in. But i think it is still ok that u can ask them to fax some details to you as well.
August 31, 2009 9:38 PM Sue said...: Thanks Hsien for volunteering info. I just want to know whether there are any sea view units left and on which floor and how much? I understand that the higher you go, the more you pay. Type A looks good if it's the same as the show room. I think I might have to put all these enquiries off until I get to Penang early next year. By then, all the units may be sold. So be it!
September 20, 2009 10:32 AM Michelle said...: Went to see the show unit yesterday, I personally like unit 1, it's quieter and the kithen is brighter...
October 14, 2009 5:45 PM chew said...: The entry and the exit from this condo is only via the Tanjong Tokong main road.
This is very inconvenient.
October 22, 2009 10:30 PM Hsiens said...: went to the sales office (which will be the entry/exit in future) more than 20 times, never felt inconvenient... but i feel very convenient because it is near to shops and shopping complex, and there are more shop lots coming up. further more, in that area, there are many nice "hidden" restaurant :)
October 26, 2009 10:50 AM Michelle said...: The lower floors of unit 3 & 4 are still available, guess they are too big, i.e. around 2300sf and the price is > RM900K
November 3, 2009 7:46 PM Catherine said...: Can anyone advise me how much the maintenance fee psf?
November 4, 2009 9:16 AM Hsiens said...: RM400 per month, all units same price.
November 4, 2009 1:01 PM Catherine said...: Hsiens

Thank. Wow, avg 0.2psf, what a bargain! What's facilities provided?
November 5, 2009 1:30 PM Darrel said...: Anyone interesting in landed house behind Fettes Residences can look for Magaret Tan contact: 0164425518
November 16, 2009 10:04 PM Michelle said...: FR provides full condo facitilies. Details on FR are provided in http://www.palmex-property.com/ppreview/fettes1.php
December 4, 2009 10:47 AM gregory said...: I am looking for a studio unit at the FR, any seller, please contact me at 0124020288 ? prefebably from 8 floor up. Thanks
February 27, 2010 8:08 PM Robert Low said...: I wonder anyone who can live with graveyard view & evening sun @ Unit 6 =.=
March 24, 2010 12:35 PM Tan H.H. said...: Attn Owners:

Those who plan to sell their unit upon completion, please send me an email, sms or call me. Our company will advertise it in the newspaper and online classified.

Thanks in a million!

Tan H.H.
Pen Properties
012-4945211
04-2208932
tan.hh85@gmail.com
June 9, 2010 2:38 PM Onini Sakamoto said...: hi! we have potential buyer n seller.

feel free to contact me jason 012-4297310
June 30, 2010 8:54 PM Peter said...: Super expensive for not really good environment at a busy junction. Must be dreaming to expect RM500/sqft.
July 5, 2010 8:03 PM cheng said...: any comment for type B3?
July 26, 2010 11:04 PM gene said...: I'm actual buyer, interested to buy studio type. pls contact mr.wong 0194807886
August 11, 2010 4:56 PM Fer said...: Dear Owner,

I was looking for your property to sale, it's any owner would like to sale, please do not hesited to contact me via my contact number / Email add as below:

Tel:016-4400003
Email:feliciagoy@yahoo.com

Thank You for your information.
August 12, 2010 4:55 PM Rick said...: ----For Sale----

-2400sf
-High Floor
-Direct Seaview
-Only Selling 1.4mil(nego)
-For More Detail Pls Call Mr Goh
012-4105400
August 20, 2010 10:38 AM Rick said...: ~~~~Fettes Residence For Sale~~~~

Medium Floor 1000sf 2c/p Seaview 650k

High Floor 1600sf 2c/p Seaview 750k

High Floor 2400sf 2c/p Seaview 1.4mil

For More Detail Pls Call Mr Goh
012-4105400
August 20, 2010 4:58 PM teng teng said...: Fettes Residence for sale
-price ranging from 595k to 1.22M

Nikki
017-4716608
nikkicheah@edbidproperties.com
August 25, 2010 6:51 AM Hsiens said...: what happened to Fettes Residence official website??
August 30, 2010 4:24 PM Adda said...: Dear Owners,
Please feel free to contact me if you wish to sell/rent your unit at Fettes Residence.
Look forward to work together with you!

Regards,
Adda Lee (Wawasan Properties)
Tel: 012-4008810
Email: adda.wp@gmail.com
September 9, 2010 1:58 PM condomana said...: Dear teng teng,

May I find out from you how big is the unit that's for sale at RM 595k?

Thanks
September 9, 2010 2:06 PM Tim said...: It is 1,000 sqft. It has been posted on Mudah.com for some time.
September 15, 2010 3:35 PM Rick said...: High Floor
1600sf
2c/p
Seaview
Only Selling 730k(nego)
Urgent Sale!!!
Mr Goh(Agent)
012-4105400
September 15, 2010 5:37 PM Lim said...: ~~~~Fettes Residence For Sale~~~~

Medium Floor 1000sf 2c/p Seaview 650k

High Floor 1600sf 2c/p Seaview 750k

High Floor 2400sf 2c/p Seaview 1.4mil

Peach Lim
0164013696
September 18, 2010 12:39 AM condomana said...: Hi Rick,

Is your 1600 sqft really 1600? or 1000 + 600??
September 18, 2010 9:27 PM Michelle said...: I saw a few ads above on Fettes Residences with 1600sf for sale, however, when I check the IOI property website, there is no 1600sf unit. Further, the ad on mudah.com (http://www.mudah.my/Fettes+residence+1600sf-7176873.htm) says the unit is fully furnished, as far as I know, construction of FR has not even completed, did I miss out somethine?
September 22, 2010 8:15 AM Hsiens said...: Michelle: yes, not in the website, they did not post everything on website. I checked last round about 2/3 months ago it is almost sold out and fully reno should be the show unit? I am not too sure.
September 22, 2010 9:36 AM tedd said...: michelle , do not listen to those housing agent . there is no 1,600 sq ft . the size is only 1,000sq ft + 600 sq ft of common area . there is no fully furnished . Only got air con .
September 22, 2010 11:13 AM eight said...: Any owners intend to sell their unit immediately or upon CF obtain, please feel free to text, email or call me.

Thanks.

Mason Tan
012-4951126
tan.hh126@gmail.com
September 22, 2010 5:34 PM Property talk said...: Not fully furnish. Only got aircon. Aircon is less than 1k for 1 horsepower. Not significant compare to total cost for a unit. It should not fetch more than RM400 per square feet. RM380 per square feet is also damn expensive.
September 22, 2010 6:27 PM tedd said...: Guys you can buy from Property talk . He does own many units for sale below the market price . He is one who is ranked under the top 10 forbe ... billionaire.... in the world. He is an expert in penang Property . If you guys have any problem do consult him . He is a magician and also a sweet talker. But he cant even commit a performance bond because he talk more than action. He always think that he the greatest in the world.He do provide private funding on houses . If you need money you should look for him . He claim that he do manage merger or take over for banks and telco . If bank cant lend you fund for buying property . He may help . He had the capability to lend money to the banks as well . He is hanging around with Jeremy Tan and Lightning.
September 26, 2010 8:31 AM house said...: Tedd, i was thinking to get either brezza or fettes residence a year ago. but I didnot make any purchase. So far, you are the few who favour fettes residence over brezza. I like fettes residence because of the amenities surrouding it and from a reputable property developer, ioi. I was laughed at by friends who bought brezza saying that i m brand consious. My thought is I put a lot of many in it, i m not going to risk myself for "no track record developers". As for uda, they wont die but i have my reservation as it links to government i.e. slow progress, other negetive things. When I went around to look at brezza few days ago, it looks like " a bit better than medium cost house", it doesnot look "RM500-600", whereas fettes residence definitely has the look which reflected in its price. however, when i saw tesco being built beside it, i am not sure I have missed the boat of not buying brezza,despite the look n price, it does has a decent size and location (except it was surrounded by low cost tempo houses). As for fettes residence, reasons I didnot buy as it was surrouded by low cost flat and it was selling at 420psf, now 450psf???it is still worth buying Please comment. When you invest in fettes residence, is it more for its yield or capital appreciation? would you also like to comment about gurney paragon, would like to hear from you. i have 1 condo tg tokong and 1 landed in tgbunga, 1 soon under construction(the peak, probably not so good a bet), I just sold my condo lately, i have cash i want to put my money in landed property due to its capital appreciate, any location/project which you like to recommend, my budget is around 1.1 mil. would appreciate your input.tq
September 26, 2010 8:37 AM house said...: tedd,
just want to clarify, my landed tg bunga, my condo tg tokong are being rented out currently. would you also share your thoughts both fettes residence and brezza are also surrounded by low cost houses. I have bad experience with housing agents, they can tell you all sort of things to get buy/sell your properties, not professional at all.tq
September 26, 2010 3:59 PM house said...: ANYONE HAS ANY IDEA HOW MUCH IS 2000SF TYPE OF FETTES RESIDENCE SELLING NOW? MY COMMENTS ABOVE WERE NOT INTENDED TO PUT DOWN ALL HOUSING AGENTS, PERHAPS SOME ARE REALLY PROFESSIONAL, UNFORTUNATELY, THOSE WHO I HAVE MET ARE NOT SO PRO.....
September 27, 2010 6:46 PM tedd said...: House , if you really know about UDA business history then you wont consider the BREEZA. Frankily speaking i do have 2 units of BREEZA, i will not hold them once i get the keys simply because i dont feel good with these project .The surrounding is real sad. Fortunately , i bought the BREEZA below Rm 300 per sq ft. UDA will take at least 5 to 10 years to settle the village matter . It is very complicated issue which is not easy to be resolved . Further more there will be more and more temperary homes built beside the BREEZA and the land status will be unlikely to be converted to FREEHOLD . Recently , another 80 units of temperary homes were built. I do own 1 unit of Fettes Residence . Do not compare the quality between FETTES Residence and The BREEZA . It is like comparing Metal with silver. If you really do a survey the property in Tanjung tokong area such as Tanjung Park you will feel that Fettes Residence is not overpriced. The return of rental and capital appreciation should be good . If you are talking about long term investment , landed property will be still the best choice . You can consider E & O 's courtytard terrace ( Phase 2) if you manage to get below RM 1.2 million .
September 27, 2010 11:48 PM condomana said...: Dear tedd,

*wave*. Don't forget me when you get your keys for the Brezza, ok! Since you value it below RM300/sqft in your previous comment, I will buy from you at RM 330 /sqft provided they are in Block A-medium to high floor.

Dear house,

My opinion is, in terms of proximity to Tesco, I don't think there is any difference between Brezza & FR. You are not going to walk there anyway.

It is a fact that reputation wise, IOI beats UDA. However, IOI priced it's "reputation" into the selling price, resulting in higher price for FT / sqft wise. Now, I was told that the actual building contractor for Brezza is not UDA, but a sister company of IOI's contractor, as UDA is only a "facilitator", they don't actually build.

Now, low cost flats. I am not too concern about that, for both Brezza & FT. Why? If you had lived in this area long enough, you would know that the low-cost neigbourhood here is made up of pretty decent people, who are mainly your friendly hawkers around this area. If you go slightly inside near the pepper estate, you start to have gangsters. If you go to Jelutong low cost flats, you have drug pushers & robbers. You go to Paya Terubong, you have organized crime who run brothels & "Ah Longs". But Tanjong Tokong, its cool. You only get rascals who refuse to wear a helmet when they ride their motorbikes around the area.

The owner of a 2000 sqft FT with a nice seaview on the higher floors would probably be asking for RM 1 mil now. If you ask me, any condos with a price tag of RM 1 mil and above in Penang is pretty illiquid in the resale market.

Property agents? Yeah, you can definitely do without them. Looking for a property, just go to Mudah.com. Plenty of listing by owners.
September 30, 2010 12:12 AM Fer said...: This comment has been removed by the author.
September 30, 2010 12:15 AM Fer said...: FOR SALE!!!!!!!!!!!!!!!!

SEAVIEW
1600 SFT
2CAR PARK
HIGH FLOOR

SELLING PRICE RM 750K

INTERESTED PLEASE CONTACT ME:

FELICIA
016-4400003
October 19, 2010 7:15 AM love said...: 1high floor unit with seaview sell at 740k
kindly contact 012 4088 430 if interested
dear owners, if u wished to let go your unit
pls leave me a message / email
lovepenangproperty@gmail.com
thanks
October 21, 2010 6:28 AM Jack said...: Studio unit for urgent sale
High floor 1000+600 sq ft
Facing E&O
Direct owner
RM645K nett pls call iris 0124812011
October 24, 2010 12:04 AM law said...: I'm looking for a Fettes Residences unit of abt 2,400 sq ft. Prefer unit of high floor. Pls email details to: dhl.udnc@gmail.com or sms to 0124855371
November 2, 2010 8:46 PM janeching said...: Few units for sale

-studio type 1000sq + 600sq
-asking RM595k-RM630k

pls call 012-4298816 Jane
November 8, 2010 5:24 PM Lim said...: for sale

1000sf + 600sf
ori unit
high flr
645k nego

Peach Lim
0164013696
November 9, 2010 11:53 AM Fer said...: This comment has been removed by the author.
November 9, 2010 11:54 AM Fer said...: FOR SALE!!!!!!!!!!!!!!!!!!!!!!!

SELLING PRICE RM640k
1600SFT
2CARPARK
HIGHER FLOOR

CONTACT ME ASAP:
016-4400003
November 30, 2010 11:45 AM UNF said...: Fettes Residence For Sale

- 1900 sq ft
- high floor

Asking for RM 1.2mil

Intrested please contact

LIM
012-450 0223
(Real Estate Negotiator)
E-mail: unfproperties@gmail.com
December 1, 2010 11:22 AM Lina said...: Unit to Sale

Please call for confirmation.

Mobile No.: 012-454 3432 Ms Ong
E-mail : lynaong@yahoo.com.sg

Thank you~
December 7, 2010 7:35 AM eight said...: For Sale :

high floor
2000sf
Balcony facing Island plaza
Asking RM1.2Mil

Mason Tan 012-4945211
December 10, 2010 12:16 PM Lina said...: UNIT FOR SALE !

~ Fettes Residences ~

* RM 1 mil
* 2002sf
* 3+1 rooms, 3 bathrooms
* 2 car parks
* Facing E&O
* Type B
* High Floor

Interested please call -
Lina 016-4141233

Thank you.
December 10, 2010 2:36 PM Ronz said...: For Sale

Rm999k
Type - B
High Floor

Contact : 016-4757775 Ronald
December 19, 2010 10:12 AM jks said...: Private Sale: 30+ flr 2400+ sq.ft. sea and Gurney facing unit upon OC (July 2011)
Contact : jks.heng@gmail.com
December 28, 2010 4:15 PM Grace Ngooi said...: Dear Owner,

I have immediate buyers urgently looking for this property.

Grace (019-4777 966)
grace.ngooi96@gmail.com
January 6, 2011 1:03 PM eight said...: This comment has been removed by the author.
January 11, 2011 1:49 PM eight said...: For Sale :

- Unit above 30th floor

- from balcony can see Island Plaza

- 2 car park

- Asking RM1.2Mil negotiable

- Only RM600psf for a freehold and good quality property

- Compare to "The Brezza", asking price around RM480psf, leasehold and average quality, Fettes Residence is much more worthy to buy (my 2cents opinion)

Mason Tan
012-4945211
agent

***** Owner who wish to sell their property, please call or sms me with details. Thx very much and appreciated*****
January 14, 2011 8:46 PM ooi said...: Dear lovely owners,

who got units for sale at Fettes Residence, please email me.

Thanks

Email: ooi.choonkuan@yahoo.com
January 20, 2011 3:57 PM Season said...: Attn Owners:

Those who plan to sell their unit upon completion, please send me an email, sms or call me

TEL: 0124332229
Email: seasoning888@gmail.com
January 20, 2011 4:01 PM Season said...: >>>>>>>>>>>>>FOR SALE<<<<<<<<<<<<

*High floor Sea view unit
*come with 2 car park
*2441sf
*Asking 1.5Mil

Call for more info 0124332229
January 24, 2011 12:16 AM Elsa said...: Dear Owners,

I have immediate buyers looking for this property (2002sf/2400sf)

Elsa Chong
012-4311838
elsa864@gmail.com
January 24, 2011 7:43 PM Tan H.H. said...: For Sale:

Unit above 30th floor
2000sf approx
RM1.2 Mil
2 car parks

Unit above 20th floor
2000sf approx
RM1.12 Mil
2 car parks

All direct, welcome co-broke

Mason Tan
012-4945211
012-4951126
tan.hh85@gmail.com
agent
January 26, 2011 2:58 AM Season said...: >>>>>>>>>>>>>FOR SALE<<<<<<<<<<<<

*High floor Sea view unit
*come with 2 car park
*2441sf
*Asking 1.48Mil

Call for more info 0124332229
January 26, 2011 3:25 PM popular management said...: fettes residence for sale

.type-B

.2002sf

.seaview

.higher floor

selling price: rm1mil

_______________________________
calvin ooi
0 1 6 4 4 0 1 1 9 9
February 6, 2011 5:48 PM propertypenang said...: Hi

Can anyone tell me whether it is ok to get units below 12 floor... thanks.
February 7, 2011 2:57 AM mchanney1 said...: I am interested in a high floor, sea view, preferably B2 layout. Please contact

mchanney1@aol.com
February 7, 2011 8:22 PM Peter said...: 2000sqft selling above RM1mil, serious ah ?

Somemore located at a junction where vehicles will be speeding away.. think about the noise, which can go all the way to high floors.
February 8, 2011 3:36 PM Hsiens said...: the cars are not driving at high speed as there are traffic lights. i went to 25th floor and couldn't notice any annoying vehicle sound.
February 8, 2011 10:06 PM ID PRO INTERIOR DESIGN said...: I am interested buyer for Fettes RESIDENCES. Pls call me 017-4886891. Studio or any type? I am a genuine urgent buyer.
February 9, 2011 2:17 PM Peter said...: I stayed at another Condo with a traffic light besides it. Trust me, it will be noisy. I practically have to close the window all the time. No need to mention the Mat Rempit at night, especially on weekends.

Anyway, RM1+mil for 2000sqft is still ridiculous for a so-called high-end condo (that has a low-cost flat besides it - which luckily just repainted, mostly likely by Fettes Residence developer, just imagine 5 years down the road when it deteriorated).

At Balik Pulau, new Focus Height bungalow going for RM1.2~1.4mil with 4100+sqft build-up, 5700sqft land area, 3-storey.
February 9, 2011 3:39 PM Hsiens said...: :)
February 9, 2011 7:13 PM Michelle said...: Dear Peter,

I'm quite keen to buy a good condo for own stay and was seriously considering Fettes Residences, if RM1+mil for 2000sf is considered high at the north-east area, then is there any good recommendations?
February 9, 2011 8:17 PM Michelle said...: Btw, Focus Height at Balik Pulau is a more appropriate comparison to Legenda@Southbay rather than Fettes Residences Condo. Legenda@Southbay is new bungalow development at Batu Maung area, cost RM3.8mil onwards, with land area from 6830sf.
February 10, 2011 12:36 PM Fong said...: Fettes Residences, Tg Tokong, Penang

- low denisty (1 block only)
- Type C2 (Studio Unit)
- 1600sf, 1 rooms, 2 baths
- 2 car parks
- below 10th floor
- OC expected to obtain June 2011
- RM 630,000

Fong Sien - H/P : (016) 492-7181
February 10, 2011 1:53 PM Kelvin said...: I think you cannot compare a property in Tanjung Tokong to one at Balik Pulau....it is all about location. With regards to the noise, I think it will not be a problem unless there are many blocks close together at the traffic junction...noise reflection!
February 10, 2011 2:04 PM M said...: There appear to be more apartments/condos for sale these days in Penang. Is this an indication of too many units chasing fewer buyers? Will prices per sq ft come down?
February 10, 2011 2:08 PM BM said...: Drove past the condo today. I must say the architecture is impressive, very different from the rest of the luxury condos on the island. I like the open concept perimeter fencing whereby passers-by can get a glimpse of the water fountain and other facilities inside.
February 10, 2011 3:01 PM Felix The Cat said...: M : The market is going thru a digestion period. Prices has increase significantly for the 3rd and last quarter of 2010. As for your question of whether the prices psf will drop...well all i can see is that the real property investors have not step-in to Penang yet. Hope Mr Lim Guan Eng will open the big front door to this bigtime investors when they come. When that happens, most middle class Penangites will be driven away from strategic location in the island.
February 10, 2011 3:38 PM Peter said...: The View condo going for RM700+, 2068~2088sqft.
Iconic landmark (twin tower) with view to another iconic landmark, the Penang bridge.

5min drive to Tesco or Queensbay Mall.

Is'nt it a better choice ?

However, do note that there is a Malay kampung besides it, close to Tower A. Which probably will take long time to redevelop (just think Tg Tokong or Kampung Buah Pala and the political issue).

So choose Tower B instead.

That said, I'm not agent nor seller. Just a bit disgusted by the RM600/sqft touted here.
February 10, 2011 4:09 PM Tan said...: << Fettes Residence >>

UNIT FOR SALES!!!

- Higher Floor
- Facing gurney and seaview
- BU : 2000sft
- 2 carpark
- Brand New unit
- Under construction
Selling Price : RM1.1Mil(Neg)

Regards
Jaycus 017-2262899
February 10, 2011 6:12 PM Hsiens said...: Peter, good luck.
February 10, 2011 11:00 PM Kelvin said...: Peter,

In terms of feng shui, the View is definitely not located on an ideal location, right at the tip of a bridge. That may explain the falling prices over the years.

Even though the design is superior to many other condos on the island, the location (feng shui wise) is not ideal.
February 11, 2011 7:57 PM Peter said...: errr.. and a Condo besides a Junction have better Feng Shui ?

Better take heed from the failing Island Plaza, even Metrojaya also looks like moving out with less and less goods everyday, which is located just opposite Fettes Residence across the junction.

Wah, now even better, just besides all the water features, they are building a new row of commercial units. Somemore facing their backside.

Really poor choice of location. If low to medium cost apartment still oklah.

If wanna charge RM600/sqft, better give at least beachfront, like The Quayside Condo, The Infinity, 1 Tanjong, so many beachfront condos.
February 11, 2011 9:57 PM Michelle said...: IOI has increased the price for the unsold units yesterday. After viewing the condos around north-east area for almost a year, still think that FR is a good buy and booked a unit just before the increment. If most of you who posted to this forum are future residents, then I would foresee we shall have nice neighbourhood in FR...
February 12, 2011 12:57 AM Bm said...: Hi fellow residents,

I like the constructive arguments presented by all parties so far....at least we don't see really nasty people here. Well, I am also a future resident of FR. The things that I really like about this property is:

Location, location, location: Peter may not agree with me on this. I like the convenience of having a shopping mall right across the street from my house although it may not be the biggest or best in town. The food court right opposite the block serves me well coz I don't cook at home. I can also run my errands by just going across to the shop offices nearby. So what if we have a few shophouses beside us? I see that as a plus point. Bus stops are just at our doorstep, how convenient! We are not too close to the sea (like Quayside) to fear about future tsunamis, yet close enough to enjoy a good view! We are not right at the heart of Gurney Drive to enjoy the good food and great shopping, but close enough to take a nice stroll or drive and far enough to avoid the traffic jam during festive seasons!

So I think it is good value for money as compared to other luxury properties in the area.
February 12, 2011 8:00 AM Michelle said...: Totally agree, one more important point: Adventist Hospital is nearby in case of any emergency...
February 12, 2011 8:54 AM Kelvin said...: Totally agree with Bm. And Michelle, Tanjung Hospital is even closer....Bear in mind, the new shopping complex at Seri Tanjung Pinang. Just like how Bm put it, not too close to encounter traffic jam but close enough...haha
February 12, 2011 10:17 AM Kelvin said...: With regards to feng shui, having a bridge just outside your house (eg the View condo) is like having a drain taking your wealth away.

Having a junction is not that bad after all...name me any major developments that do not have a nearby junction...even our famous Petronas twin tower is located beside a junction! How about our very own Mutiara Ville and Persiaran Gurney 1 at Gurney drive! Even the nation's biggest bank, Maybank headquarters in KL is located at a major junction! It is all about connectivity.
February 14, 2011 12:35 PM Peter said...: 2000sqft also not big enough to be considered Super Condo, but selling at Super Condo price at RM600/sqft.

Ya, right, Super Condo, sandwiched by low-cost flat and commercial 3-storey building. Somemore, opposite Island Plaza that MetroJaya also cannot sustain and moving out. Previously it was Super Tanjung that failed.

Hmmm.. for 2,000 sqft other places can buy for RM700k~RM800k. The balance RM400k, wow, can do extreme renovation, with balance left over.

Better buy landed property at E&O for the price. Have better capital appreciation.
February 14, 2011 12:49 PM Peter said...: Funny buyer here.

People buy low, sell high.

It seems buyer here wanna buy high, and expect to sell higher ?? Must be dreaming that a 2,000sqft apartment can worth more than RM1mil.
February 14, 2011 2:27 PM tedd said...: i dont think you can get any landed property at E & O at RM 1 million . the market price is around RM 1.45 million .. for terrace . the price you are talking about is in the year of 2008 . If you can get at RM 1 million , do contact me . I dont mind paying you commision . thanks in advance Mr. Peter
February 14, 2011 3:29 PM Peter said...: Ya, and they are offering Fettes Residence for RM1.2million and above now, at RM600/sqft.
Not even RM1mil.

2,000sqft versus terrace house at Seri Tanjung Pinang. Even 200k difference also I'll take terrace house anytime.

Let's do some simple calculation.

RM1.2mil for 2,000 sqft
+1% for agent fee
+3% Stamp Duty

That is RM1.25mil just to start.
Have not include lawyer fee, valuation fee and Penang property you most likely need renovation, and furnitures.

Easily come up to RM1.4~RM1.5mil for move-in condition.

Better buy existing fully-renovated, fully-furnished condos, which are still a bargain below RM1mil for 2,000sqft.

What is special about Fettes Residence, I really wonder ?
Location wise, View-wise, the Brezza also better at a lower cost.
At least the Brezza is priced reasonably, although also on high side. No wonder it has hot sub-sell value.
February 14, 2011 3:45 PM Tanner said...: It is sellers market now folloiwng the standard Property cycle. Current economics and outlook looking positive, further fueled by factors such as low bank interest, attractive packages from financial institute, and also lack of better and safer mean of investment option to hedge against inflation which really push for the upswing for property demand. In terms of the selling price it is never too high or to low but merely base on the supply v.s demand involving both willing parties. By giving some comparison on the existing new or subsale property price (not transacted price,non super condo), Seri Tg Pinang service apt are asking >800psf, bayswater >500psf, The light linear >500psf, the light collection >600psf, platino from >450psf, pearl regency > 500psf, baystar > 450psf, even a leasehold putra marine is asking for >400psf therefore RM1mil for a 2000sqft fettes residence may not yet be ridiculous
February 14, 2011 3:59 PM Hsiens said...: Hi Peter, i somehow agree with you. Fettes residence is just like Taiwan famous pop star Jay Chou, i really dont know what he is singing but yet was the best for past 10 years. what a weird world. I really wonder?
February 14, 2011 4:05 PM tedd said...: life is like that, you can take red wine or durain as good examples. some people is willing to pay for Rm 20,000 for a bottle of red venegar and RM 150 for a durian . Some people can even pay for RM 150K for a crystal or rock . Some mat salleh can even pay for a pre-war shop house for RM 1.65 million . so dont say you wonder this and wonder that . As long you are happy with it . It will be good enough .So dont argue
February 14, 2011 4:40 PM Tan said...: << Fettes Residence >>

UNIT FOR SALE!!!

- Higher Floor
- Facing gurney and seaview
- 2 carpark
- Brand New unit
- Under construction
Selling Price : RM1.1Mil(Neg)

Regards
Jaycus 017-2262899
February 14, 2011 10:25 PM Michelle said...: This forum gives us a chance to voice our very own opinions and views to the property. We shall use it as a reference and whether the comments are right depends on our own judgements. Please bear in mind that there is no definite right or wrong so long as the buyers think it is worth buying: individual requirements and needs are different.

Some said FR is over-priced which is true if compare to The View, and I may prefer The View to FR if I want to stay close to Penang bridge. However, my preference is to dwell at Tj Tokong area and thus The View is a wrong property to look at as far as I'm concerned. And I think compare to the new condos nearby, FR's price isn't exorbitant, I don't mind the low cost flat beside, don't mind the sound from the busy junction; but I do mind if there aren't any eating place nearby. Whether or not FR will appreciate to > RM600/sf soon, it doesn't really matter to me as I'm not going to sell it in the near future. I guess some will have the same preferences like I have and that's why we bought FR!

Having said that, speculators may have different opinions. Any speculators out there? mind sharing?
February 14, 2011 11:45 PM Bm said...: Michelle,

My sentiments exactly. I don't really care if the price goes above 600psf....I won't sell it anyway. It is the location that I was going after. Having grown up in Rifle Range Flats, I don't think noise will be a problem for me, if it exists in the first place. I like the convenience of having multiple food and entertainment outlets within walking distance fr my house. I can hop on a bus to town or to Batu Feringhi whenever I don't feel like driving.
February 14, 2011 11:51 PM Bm said...: And i bought my unit quite some time back, before the surge in price. Was actually considering Baystar and Platino, which are in the same price range. But chose FR for its location. In the end, it boils down to where u work and where u want to spend most of your time.
February 15, 2011 2:04 PM san said...: Whether it is a buyer market or seller market....depend on which condo you are talking about.

For sure, Platino and Delima Palace belong to the buyer market category. Investors can ask for high price but only limited potential buyers.
February 16, 2011 7:05 AM Michelle said...: Bm,
Great minds think alike... :D
February 16, 2011 11:06 AM Faryna said...: Fettes Residence

Size 2400sqf
High Floor

FOR SALE

Interested pls call Faryna Ooi 012-493 3960
or email faryna@hotmail.com
February 16, 2011 11:07 AM tedd said...: When E & O first launched the Seri Tanjung Pinang project , the market response was so poor until it had to knock the bell to sell the terrance and Semi- D .I did recommended many of my friends to buy the terrace and Semi-D but all of them thought i was insane . People in Penang are very funny . When the prioce is low they will not buy . But when the price is getting higher they will start chasing after the crazy price . When i bought my SEMI-D at Seri Tg Pinang, the price was only RM 1.4 M and the demand was so low . But now the price become RM 2.5M and the people are still chasing after it . So no one know what will happen until the whole project is completed. But i believe FR owners will not be disappointed. The location is good . The fair value should be around RM 550 per sq ft for a freehold condo base on the location and land price per Sq ft in that area. Dont compare the VIEW with FR . The developer of the VIEW is keeping too many units for themselve and recently they start dumping the price for quick sale . You can verify this info. One of my friends bought it at RM 580k last year . The main problem is the road access to the VIEW is very poor.
February 16, 2011 1:18 PM Peter said...: Tanjung Park, penthouse, 2260sqft, fully renovated, going below RM1mil.

Same location, actually a bit better location in that it is off the noisy main road and not facing backside of 3-storey commercial building with noisy aircond compressors.
February 16, 2011 1:38 PM Peter said...: If one were to fall in love with a property, then it doesn't matter what the price is. Some people can live in the forest by themselves as long as they are happy with the "location".

But we are talking about the general buyer who goes by common sense (and economics).

I would believe general buyers are one who cares about their property as a long-term investment, also one who do not have RM1.2mil on hand on a fancy purchase.

We can discount the speculators, as they just want to inflate the price and off-load.

Let's just talk about the typical buyer/investor, some hard questions I would ask:

1. Buying for own-stay. Condo and apartments are not a good hedge against inflation. Landed properties are. Furthermore, FR already at super high price at purchase, do you think it will appreciate that much more ?

I know buyer of condos/apartments around Northam Rd (now Sultan Ahmad Shah Rd), which was "prime" area decade ago. The price have hardly budge, bcoz, back then they already paying the price that it fetches today.

2. Buying for investment/rental. At RM1.2mil, you are looking at at least RM7,000~8,000 rental a month just to cover your loan payments and other expenses.

How many locals will pay this kinda rent ? They'd better buy their own if they can afford this and get a better and larger property at that.

Then it is back to expatriate. Do you think expatriate will like to stay in a condo that sandwich between low-cost flats and the backside of 3-storey commercial, with its noisy aircond compressor and besides noisy main road ?

There are so many more supercondo that has beachfront along Tanjung Bungah, not 5min drive away.

The Infinity Beachfront Condo, 3,700sqft supercondo, renting out at RM7,500 per month only. It was selling for RM1.7mil just half year ago.

3. Housing loan. For investors, 2011 onwards, you can only loan upto 70%, that means big capital upfront.

That will further trim down the pool of buyers.

4. Maintenance, I learn here that FR residence are suppose to pay only RM400 per month, which is RM0.20 per sqft.

That is medium cost apartment service charge rate, but to maintain a super-condo facilities (or do you really get super-condo facitilies here) ??

Common sense tells me, you will get medium-cost apartment level of service.

5. Occupancy rate. At such high super-condo price, what do you think of the occupancy rate ?

A quick check at Infinity Beachfront condo, 3,700sqft was selling RM1.7mil back then, now after more than half year since OC obtained, only about 5~6 units are lit up at night.

Which translate into less maintenance paid,
and you may pay apartment rate now, do you really think it is sustainable ? Unless the property developer is super rich and pay full amount for their unsold units.

But developers have a lot of tricks up their sleeve, like giving themselves a lower rate for unoccupied units, delaying the Strata Title application (so that they remain in charge of management), and adjusting the accounts to minimise their debt before handing over to the residence committe (if and when they actually issue the Strata Title).

All-in-all, for the majority of investors out there, THINK TWICE, even THRICE, before investing in a hyper-inflated property, as this will only benefits Speculators and the Developers.
February 16, 2011 6:19 PM Michelle said...: This comment has been removed by the author.
February 16, 2011 7:52 PM Michelle said...: Thanks Peter for the heart-warming advices, I bet you must be one of the few caring Penangites who bothers to make the long typing.

Just a few notes,

- I used to stay at Tj Park, but it doesn't provide the env I am looking for, hope FR will provide me with prefered env, do pray for me please...

- you'll be surprised how rich Penangites are nowadays, many of them can afford the multi-million dollar "real super condos" as dubbed in your comments, not to mention FR. Further, more and more people are receptive to the high-rise stay espcially those with tight security, in view of higher potention target for theft and burglary at the landed properties. I used to stay in a landed property but always feeling unsecured and had unpeaceful of mind when away from home. My pet dog was kidnapped from the garden in front of our eyes. If it could happen to a dog, it could happen to anyone in my family too, that thought freaked me out!

- I was an expat at a foreign country before, somehow I'm aware of how expats think. My advice is, try to avoid expat area if you are local, thus I don't hope for FR to be an expat area, but dwelled by decent locals.

Afterall, in terms of property price, only God knows when the ceiling will be reached.....
February 16, 2011 8:08 PM Peter said...: As I said, if you already love the property for your own stay, it does'nt matter. You lose money also does not matter.

I'm a property investor looking for long-term investment (not hit-n-run type), and this is one Condo that I cannot figure what would allow it to command RM600/sqft, nor how will I recoup the investment.

I can only conclude that the developer and the early speculator will be the one laughing all the way to the bank.

Obviously the real-estate agents is encouraging it too, as they make money either way you buy or sell.

So, it is a "syok sendiri" property sale.
February 16, 2011 9:52 PM Faryna said...: Fettes Residences

Size 1600sqf
3 Rooms
Fully furnished

FOR RENT AFTER OC

Interested pls call Faryna Ooi 012-493 3960
or email faryna@hotmail.com
February 16, 2011 10:54 PM Michelle said...: You are not making fair and appropriate comparisons among all the properties, e.g. condos vs landed, middle cost vs high value, Tj Tokong vs Gelugor/Balik Pulau; and your outdated pricing information is misleading; that won't make you a wise investor...
February 16, 2011 11:34 PM Kah Seng said...: hi all, i read thru all the post here and i am glad that i will be having good neighbours in future. Friendly, polite, educated and knowledgable. Quality neighbours! booked my units few weeks ago, my family wanted to move to tj tokong as earlier as possible but within that budget we found fettes is the best (to avoid criticism,"the best" here refer to our family needs) :) , so we decided to wait for few more months for it to obtain OC.
February 17, 2011 10:13 AM tedd said...: Peter , wat about Seri Tanjung Pinang ? How come the price is above the market price in Penang Island . The developer and speculator are also laughing as well . Pls comment .
February 17, 2011 10:49 AM Anthony said...: Unit for Sale!!

Fettes Residences, Tg Tokong, Penang

- low density (1 block only)
- Type (Studio)
- 1900sf, 1 room, 2 baths
- 2 car parks
- High floor
- near to Tesco Tg Tokong Penang

Please call Anthony Liong 0124333370 or email intradayman@gmail.com
February 17, 2011 11:30 AM Hsiens said...: Tedd, in 2009, i was quoted seri tanjung pinang terrece for 900k, asked a agent yesterday the price is now 1.4m. 500k hike in price for less than 2 years. at that time i do not know strait quay can be so beautiful and also dont know there will be tesco and other leisure centers development. And now even island plaza is more crowded these days. I can only blame my poor vision.
February 17, 2011 12:12 PM Peter said...: Seri Tanjung Pinang, I would say it can command such high price, due to its rather forward looking development.

Nice, beautiful surrounding (although on reclaim land), also look at all the premium tenants at the Straits Quay. You can judge by the throngs of crowd visiting there, even it not fully occupied.

However, I can't say the same for Fettes Residence.

You can't tear down the low-cost flats (and luckily they repaint it recently, probably just to encourage sales at FR, previously it was so old and moldy), neither can you relocate the 3-storey commercial building that is under construction there. Imagine you will be relaxing within your compound, to the accompaniment of noisy compressor from the commercial building and vehicles from the main road.
I can only bid the FR buyers good luck and get a pair of good earplugs !

Going back to similar comparison with Fettes Residence, let's take The View.

Orignal purchaser bought it around RM470k~RM500k 5+ years ago. Today, it is selling for RM700k above. Not to shabby 50% increase.

Penang average is doubling of property price in 8~10 years.

If at the point of purchase you already lose money, then you will have a hard time gaining back later. Of course, you can always hold on to it for decades, it will sure go up one.

But as smart investor, you want your investment back as soon as possible.

That said, if you looking to buy for own stay,
and already in love with the property, and have cash on hand. It does not matter.
February 17, 2011 12:42 PM bryan said...: Peter, all the way back in June you were complaining about the junction and the high price of 500psf, and how people must be crazy to buy, now you're still complaining about the junction and the price of 600psf. It sounds to me that the boat has left the harbor and you're still in the terminal complaining about price of a ticket. What may be a lot of money to you, may be very little to someone else.

Michelle, Congratulations, you have managed to insult about 20% of the future population of Fettes Residences with your comments about expats. The sales people at FR would have been happy to share with you the amount of foreigners that have purchased units, and even which countries they're from, just incase you have a particular distaste for certain countries or cultures. One day, you might even have to share a lift with one of us.
February 17, 2011 2:19 PM Peter said...: Err... Mr bryan, you must've mistaken me for another Peter. I did'nt even go into this thread until a week ago.

But then again, I would agree with the other Peter...ha..ha... even if it is 6 month ago, as you mentioned.

This boat can leave no problem, there is no value to get into it even at 500psf.

Actually I was expecting for this location to be build medium-cost apartment. Such a poor choice of location.

Also funny is the service charge also based on medium-cost apartment rate. Must get you thinking whether it is really super-condo facilities you guys getting.

Or it is another bait-n-switch tactics by the developer. Cheap now, but increase later.
February 17, 2011 3:24 PM Meng Tze said...: Apparently, Peter needs to attend economy101.
February 17, 2011 3:26 PM Meng Tze said...: and, personal advice, read some worldwide news and do some tour, open up your eyes; jump out from the well.
February 17, 2011 4:07 PM Peter said...: Well, on the home page of this blog:

http://www.apartment-penang.com/2011/02/few-takers-for-super-condos.html

It shouts "Fewer Takers for Super Condos" by REHDA chairman Dato Jerry Chan himself.

So, it is like a musical chair, and the music stops now with those people stuck with Fettes Residence purchase and nowhere to offload.

Apparently, someone else needs to attend Economy101, stupid!
February 17, 2011 4:24 PM Tan said...: << Fettes Residence >>

UNIT FOR SALE!!!

Higher Floor
Facing gurney and Seaview
2 carpark
Brand New unit
Under construction
Selling Price : RM1.1Mil(Neg)

Owner who plan to sell your unit, welcome to drop me an email.

Regards
Jaycus 017-2262899
February 17, 2011 4:32 PM tedd said...: well, when E & O first lauched its project , everyone is thinking like what expert MR.Peter . But now everyone is changing their view on Seri Tanjung Pinang . Why ah ? No can know about the future . The market forces will determine the price after OC. From the reliable info i get , when FR lauched 2 years ago , the market reponse was so poor . But the demand suddently picked up in mid 2010 . People begin to realise the real value of FR . Anyway , people is penang is very funny . They just love to chase after the crazy price when the price go up.It is like stock market . When people start goreng many auty and uncle will join the game . The BREEZA also the same , when UDA first lauched the project , no one is intereted to buy . That time the price was so cheap. And luckily , i did opurchase 2 units regardless wat other people say . Unfortunately , UDA still cant give a definite answer on the FREEHOLD conversion status . Base on the history of these company , it will never happen . But there are still many crazy buyers chasign after the stupid price .
February 17, 2011 4:47 PM Meng Tze said...: Dear Peter, ignore my advice if you are not stupid. Drink some cold water and take a deep breath if you need to. We are all discussing and learning here and hope you have the patience to listen to me just like others having patience listening to you too.
February 17, 2011 4:48 PM Peter said...: Mr tedd,

Yes, it is always a good time to buy.

The developer knows it, the speculator knows it, and they goreng and goreng, so that there will be the last sucker who bought the unit when the musical chair stops.

What I'm saying, no one here counter with any kind of anylysis, just giving me "I luv FR, so you should too. And by the way, buy from melah, so that I can offload with bundle of money" reasons.

So, let's put some maths into it.

Again, we go back to The View. Even you buy today at RM700k for 2068sqft, with supercondo facilities, mind you. Rental offered now at RM5,500, but lets be conservative a bit, lets just expect RM4,500.

That translate into almost 8% rental yield, which is pretty decent for Penang.

Now, we work the reverse on FR, purchase price at RM1.2mil. You need RM8,000 per month just to get 8% rental yield.

To put it into perspective, Infinity Beachfront Supercondo, with true supercondo facilities and an actual beachfront.
3,700sqft renting out at cheap cheap RM7,500 only !

You think FR can get RM8,000 rental... ?

You can cannot put any maths into your Economics, then you are just uncle-auntie speculator, syok-sendiri goreng-goreng the price here.
February 17, 2011 4:56 PM Peter said...: Ah, and even at 500psf, that translate into RM6,800 per month to get rental yield 8%.

2,000sqft not really to big for those paying this kind of money, it is not small for average Penangites either.

There are so many other choices in Penang for rental and at much cheaper price (like The View at RM4,500).

That is why I don't mind "missing the boat" at 500psf, bcoz it is not worth it even at that price...

So, do you Math101 first !
February 17, 2011 5:21 PM Meng Tze said...: Hi all, is me again. A story teller. I want to tell a story of my friend whom I helped him to discover that his tongue actually less complex compare to normal person. Last year, whenever I brought him to a fine dining, he is upset. "Do you know how much is this piece of meat? 2 dollars, how much are they charging us? 20 dollars. Why must I pay extra 18 dollars for the meat?" then I said "it taste better than our own cooking", he says "No, it is the same. I can cook like the 5 star chef in this restaurant". I was surprised and started to investigate. "Can you cook?" I asked. "Why not???" he answered confidently. And then 1 day we all went to his house. He cooked and then serve each of us a piece of steak. Then he started to calculate, "with all the ingredients, this piece of meat with the same weight cost me only 3 bucks." He was so proud. We all tried the steak he cooked. "OMG" we screamed and spit the meat out from our mouth. He was stunned and tried the meat himself, slowly he starred at us and said "why you all vomit? It is the same taste ah?” Immediately we sense something serious. We brought him to check and found that he couldn’t differentiate most the taste of the food. To him, 2 pieces of meat is the same, so he has no idea why 1 of it cost higher, because he has no taste. But I think it is good for him. He is happy with a 3 bucks steak but I have to pay 20 bucks because I have taste.
February 17, 2011 5:21 PM Peter said...: Frankly, I could'nt be bothered about Fettes Residence, it is an open-n-shut case for me. Already conclude it is a poor buy even at 500psf.

Unfortunately, I have to drive past it every day.

So, it is really "Ting Teh" in my eyes...ha..ha..ha..

A pseudo-supercondo rising from midst of low-cost flat and cheesy commercial building.

Oh, somemore I notice there is an illegal hawker food-stall just besides the entrance. Alamak...

Just like in India when I last visit, stay in 5-star hotel, but got slums all the way until its entrance gate.
February 17, 2011 5:26 PM Peter said...: Oh, Mr Meng Tze.

Obviously you have very good taste, buying pseudo-supercondo but have illegal hawker food-stall next to its entrance.
February 17, 2011 5:32 PM Meng Tze said...: Everyone, clarification on Peter's FALSE STATEMENT on me. I am not staying in a condo. I am just a story teller. Just like Peter.
February 17, 2011 5:37 PM Peter said...: Everyone, clarification on Meng Tze's FALSE STATEMENT on me.

It is he who needs to attend Economics101, on top of that also Maths101.

Because he only know how to tell story, but flunk his maths when pressed to give his justification on FR worth.
February 17, 2011 5:50 PM Meng Tze said...: Peter, you are cute and funny la :). Nice to meet and chat with you. Am happy today that Peter helped to kill some of my boring time. Happy Chap Gou Meh to everyone.
February 17, 2011 10:55 PM Michelle said...: Meng Tze, your tasty story cheered up my chap goh meh, if you were a future resident, I look forward to better stories from you with varieties of spices.... how I just love this community, can't wait to move in.

For Bryan, I do apologise if making you feel insulted unintentionally, don't understand why you interpreted it that way but it was the cost of living that will also be "upgraded" in an expat area, which I was referring to, instead of dislike to any certain countries or culture. Fyi, I'm a peace-lover and was brought up in a well-disciplined environment which taught me to respect others, I've never critised others on purpose but unfortunately my words are interpreted differently. Anyway, if you are a future resident and a foreigner regardless of your nationality, as long as you are kind hearted and a peace-lover, you are most welcome to be part of the community... but sorry to say that I still avoid to stay in an area consists of > 50% expats, though the expat environment could be pleasant (like alila horizon I must agree), I just can't afford the daily cost!

By the way, hope this forum won't like other forums which always ended up with negative criticsms and personal attacks.... please let the subject of discussion stay on situation instead of human. The future and potential residents are more interested to know things like
1. the progress of FR, will we get OC earlier than the contractual date
2. how is the quality of finishing work
3. what are they going to do with the basement carpark as the carpark are not opened for the residents during reservation (am I right?)
4. how's IOI's reputation in managing other condos like SpringField
5. are they builing linkways to all car park levels
6. is there a small door at the back of FR leading to the existing shop houses? that'll really be convenient to us
7. Will IOI plant more trees in the garden? I passed by FR today and see only a few trees

I'm not an investor nor speculator with major concern in property appreciation, from a resident's perpective, my major concerns are the above as of now. Input from anyone?
February 17, 2011 11:49 PM condomana said...: Hi All,

*wave*. Can I comment, or should I just shut up, just like what i've been told in Breeza blog?
February 18, 2011 2:28 AM tedd said...: Peter, why not you compare THE SANCTUARY with Seri Tanjung Pinang . since it is near to your favourite ..THE VIEW . How come the price of the SACTUARY is not moving much ? You can purchase it through auction at below market price easily. If you are talking about rental yield . E & O 's semi D can only generate a return of RM 7000 to RM 8000 per month and the price is RM 2.5 million onward and the terrace can generate RM 4,000 to 5,000 per month rental and the market price is RM 1.5 million. How do you explain about these ? how come still many people are hunting .... for these property even though the rental cant cover the loan interest ?
February 18, 2011 10:35 AM Peter said...: Hi tedd,

It is a known fact that landed property have low rental yield. Those who invest in landed property is investing because of capital appreciation, mean the price of the property will go up faster than condo/apartment.

If you are cash rich, then you invest in landed property.

But for most of us mere mortals, we are borrowing money from banks to finance our investment.

Therefore, we looking for high rental yield to cover our bank loans.

Which is why condo/apartment is still favourite choice.

Frankly if I have a lot of money I won't plonked it down on one single property either, but rather I use my leverage to borrow money, to make money ! What better way to no need to come up with capital, but you still earning money, right !

But that is provided it is not priced out beyond ability even to secure tenant, like FR.

I'm not familiar with the Sanctuary... hmm... it seems to be landed property, not too much in my radar.

Oh, last night, while driving past. I see people taking teh tarik in front of Fettes Residence entrance, since there is a convenient teh tarik stall there. It must be part of the super-condo facility...ha..ha..
February 18, 2011 10:41 AM Peter said...: condomana,

This is the Internet, you can comment whatever you want. But if you poke the wrong hornet nest, be prepared to get flamed...ha..ha..
February 18, 2011 10:46 AM Peter said...: Dear Michelle,

Since you prefer to listen to story. Here's one.

Well, IOI no doubt a strong company. Their major bread-n-butter is in Palm Oil, and with Palm Oil now above RM700+ per tonne, I'm sure that they expect the rest of Malaysian to be equally loaded as well.

Yesterday newspaper somemore listed their group chairman, if my memory serves me correctly, #3 or #4 richest man in Malaysia with like RM30bil to his worth.

So, I'm not surprise they expect equal windfall from the property venture they get into.

Only thing is that, they still can't change the fact that there is a teh tarik stall next to your entrance... ha..ha.. (or maybe they can, proof me wrong ;-))
February 18, 2011 12:05 PM Meng Tze said...: All of us has the right to comment, express own opinion dieregards a good or bad comments. We all should take it positively. Everyone has different needs. Someone wants to buy low sell high and someone wants to buy low and obtain good rental yield.

Personally, I like to debate with Peter because he is cute and energetic. As you can see, teh tarik pun keluar now.
February 18, 2011 12:12 PM tedd said...: well Peter , it seems that you hate IOI so much . Property development business is not IOI's bread and butter . People just follow the market trend . Too bad when FR first lauched , the palm oil was only RM 350 ++. Peter if you want to use palm oil price as an indicator for FR. It will be a little too much for that . It is too early to comment on FR before OC . It could be good or it could be so so only. no one know. The BREEZA is the best example. Many buyers are chasing after the crazy price blindly regardless of the land conversion status and OC . But you cant blame them , FR and the BREEZA are 2 different classes of condo which attarct 2 different type of investors . The buyers are also from different segments. Condo like FR attracts long term investors and the BREEZA attracts short term speculators. I relly hope that MR. Peter can stay calm and cool. Dont take it too personal. Even Warren Buffet also can make wrong projection . You can ask all of of seri Tanjung Pinang owner, they never expect the price can go up like crazy when they purchase the property . I am one of the owner there. Pls dont comment too early . Who knows.. u could be wrong. Pardon me .
February 18, 2011 1:13 PM bryan said...: Michelle, It sounded to me as though you were saying that you know how ex-pats think and you don't want to live near them.. anyway, no harm, no foul..

About FR, I was there 2 weeks ago to make payment and to inspect my unit. I noticed on a lot of these condo message threads, many people are unsatisfied with their developers, and they didn't feel that they got what was promised. The first thing that I noticed about the FR building was that it looks exactly as it does in the brochures and in the marketing office, which in my opinion is very good. The lobby was almost completed, and they were doing landscaping, the lobby also looked good, very spacious. I then went to see my unit which was almost finished including the 7 A/C units. The wood floors and doors still needed finishing. I noticed that the bedroom walls, in a certain light, looked slightly pink, not my personal taste. They even removed a wall that I requested taken out during the original signing. So far, I would say that this developer is living up to its good reputation. The marketing people say that everything is on schedule for a June O.C.

Somone mentioned a price increase to 600 psf, from 450psf? I very much doubt that. Can anyone confirm that?
February 18, 2011 2:25 PM Peter said...: Dear tedd,

Hate is such a strong word, why all these hate and anger. Come on. Cool down.

I have no feeling towards FR or IOI, except that it is "ting teh" in my eyes, as I have drive past it everyday, as I've mentioned it before.

Actually I already wasted too much time here, except that there are some interesting personality here like our story-teller, Meng Tze, and our sweet "I luv FR" Michelle here that keeps me going...ha..ha..

Cool down, kick back and relax in Fettes Residence compound, to the accompanying music of compressor for 3-storey commercial unit (coming soon), oh, and don't forget to go for Teh Tarik at your entrance.

Let's start calling the Teh Tarik join the Fettes Residence Teh Tarik, shall we... ;-)
February 18, 2011 2:48 PM jeremy tan said...: This comment has been removed by the author.
February 18, 2011 3:07 PM tedd said...: Do check the price of palm oil seed in the year of 2008 . it was only rm 350 +++ that time most of the estate owner can't even cover the cost. So far i never advertise for any party behalf. These is a forum to make comment and sharing the views but not personal attack like you do . even the price go up or down , it is not a big issue to me . I only buy and never sell . since i dont need the rental return ton pay off the loan . As long as the rental return is higher than the FD rate , it will be good for me .If you are a real educated man you should talk nicely and a little polite . I also dont know why you are so sensitive when i comment something here . Pls read carefully all my msg here.
February 18, 2011 3:11 PM Peter said...: Hmm... gleaning more information from actual buyers here, we can deduce that some actually bought it for RM450psf.

Althought a bit on the high side, I suppose if they bundle in a lot of other stuff, like A/C etc, it may be still worth it.

Therefore, those offering for sale at RM600psf, this must be the speculator trying to offload and making sweet noises here. Not genuine owner.

It is not even the developer inflating the price. Only the speculator trying to goreng-goreng.

Busted !
February 18, 2011 3:25 PM tedd said...: Peter , That 3 storey shop lots beside FR are highly demanded. I did contact the developer last year . From the info i get there are more than 100 ready buyers waiting to buy . Previously he is asking for RM 1.8 million min . Now he say he will only make offer after OC .
February 18, 2011 3:55 PM Meng Tze said...: Tedd, it is true. I am 1 of the hundreds. Gurney to TJ Bungah is my target investment area. I switched my investment area from Greenlane to here. I bought Bayswater few years ago and there was a teh tarik store infront of it and some of my friends were actually complaining bout that. I was actually worried but nah... i am still alive. Somehow I do not agree on this as there are alot of super high end condos in KL with mamak store attached, Malaysia ma. But 1 thing i do agree with Peter is that the high price properties of Island is no longer a good rental yield properties. Be it Singapore or Penang, hmmnn but not a bad thing thou, looks to me it is just a change of rules of the game. No matter you like it or not, this is a fact. For good rental return, I am now looking in Vietnam and Australia. Peter and those who are "long term investor", you can keep an eye on that. Good timing to buy Australia properties now, you know why. If i buy fettes residence then you guys will have added a half expat as your neighbours. Am i welcomed?
February 18, 2011 6:41 PM Peter said...: I have to agree that commercial unit at that location will be hot, especially the ground floor. Upper floor only so-so, look at Tanjung Park also not fully occupied on the upper floors. But I guess this is normal for multi-storey commercial unit here. Nobody bothers to walk up the stairs.

Fettes Park has always been the focal point for Tanjung Bungah area, for commercial, that is.

Although Island Plaza still fail somehow. Maybe bcoz ppl just need another 5min drive to Gurney Plaza.

Aiya, Meng Tze, I already had trouble managing my tenants within Penang Island, how to manage it overseas.... maybe you can teach us.
Also what abt financing ? Unless you are Australian PR.

Penang is an island, it is just a matter of time it go the way like Hong Kong and Singapore. I think it is still good investment here. Prices still double every 8~10 years.

But have to make sure buy lowlah, FR at 600psf too high liao, which is my original point.
If all new property also this range, then perhaps better invest in Palm Oil...and Rubber... ha..ha..
February 18, 2011 10:44 PM Meng Tze said...: Peter, goto consult Citigold. They will teach you. All my friends hire an assistant to manage tenants. My accountant offer me his assistant to manage my tenants so I only need to pay half of market price only :) a tips for you - go and negotiate with your accountant, I know most of them has assistant or maybe a runner.
February 19, 2011 7:35 AM Michelle said...: Meng Tze, Your are a nice person: humourous and sound positive; come be our neighbour and cook more stories for us (make sure their are tasty ya) :-D

Though location of a condo is a key factor, capital appreciation of a condo also depends largely on how we upkeep the place and the quality of the residents... not saying I am the one (to avoid the flame) but am trying to be with quality people so I can behave like one :-D
February 19, 2011 11:57 AM Meng Tze said...: There are 3 condos in my mind right now, at this area. Will place my chips by next month. FR price is high, or is high? Or is high!!! Ppl might have different expression to it. I had an experience on few of my family's properties, 1 of them u folks should know, bayswater. There was once my friend shouted infront of me, the price is high!!! It was few years back. Well, I don't care, bought a 2nd unit after the price hike 45%. Any now I am happy with my crazy idea. Believe it or not, this is a matter of taste. The other 2 condos I am looking at also very "high" price. Hmmnn high, or high?
February 19, 2011 12:33 PM taphie said...: MT, as long as u like it and you can afford it, there is no such thing as high price!
Like wise, sky is the limit, if you are willing to pay 2million for a unit in FR. Nobody will say anything, sum may say you are D...d but who cares when you have loaded of cash to throw around, its your money. The profited owner will be lol with your loaded cash and you are happy with your puchase of the luxurious FD.
The conclusion is as long as in the end, both the onwer and seller walk away happily with the deal.
February 19, 2011 12:35 PM taphie said...: sorry a small typo,I meant owner and buyer. hehe..
February 19, 2011 1:20 PM Meng Tze said...: U got the point. Like Warren buffett said, when a deal is done, there are 2 people think they made the right choice. I think the owner who sold his unit to me with 45% profit was laughing at me. But he missed another 300%. who should lol now? I won't, because the price might drop tomorrow. No one should lol at others decisions.
Just learned the word "lol" from my son.
Taphie, let's lol together for better tomorrow and for our happy family.
February 21, 2011 11:49 PM condomana said...: Hi Michelle,

Care to elaborate on your definition of "quality people"?

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