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Continue Reading ⋅ 30 January 2023
Sunsuri Residences is part of the Ideal Vision Park masterplan, a mixed development project by Ideal Property Group that will comprise 80% residential projects and 20% commercial projects.
This freehold serviced residence is located in Sungai Tiram in Bayan Lepas, Penang. The family-centric project features three towers, with 773 residential units in total. Given its smaller built-up sizes, the project would suit individuals, couples, and smaller families. It has been highlighted that the developer placed emphasis on making maximum use of space in its layout.
The largest unit is 800 sq ft and it offers a dual-key design, allowing owners and investors to maximise the value of their unit by renting it out, or converting it into an adjacent home office.
Address: Jalan Sungai Tiram 1, Bayan Lepas, 11900 Penang
Developer: Ideal Homes Properties Sdn Bhd
Property Type: Service residence
Land Area: 3.787 acres
Land Title: N/A
Tenure: Freehold
No. of Blocks: 3
No. of Storeys:
- Tower A1: 42 storeys, 11 units per floor
- Tower A2: 34 storeys, 14 units per floor
- Tower B: 24 storeys, 8 units per floor
Sales Office: No. 71, Ideal @ The One, Jalan Mahsuri, Bayan Lepas, Penang.
Year of Completion: 2023 (estimated)
Built-up Area: 480 sq ft – 800 sq ft
Facilities – Level 7:
- Multi-purpose hall
- Management office
- Open lounges
- Discussion rooms
- Reading rooms
- Male & female sauna
- Landscaped garden with seats
- Children’s playground
- Game room
- Multi-function hall
- BBQ pavilion
- Outdoor gym
- Swimming pool with jacuzzi
- Gym room with viewing deck
- Kid’s pool
Launch Price: From RM253,000
Launch Price Per Sq Ft: About RM790 per sq ft
Maintenance Fee: RM0.22 per sq ft + 10% sinking fund (indicative)
Project Details
Sunsuri Residences sits on 3.787 acres of freehold land, and it comprises three towers, with four built-ups. All units come semi-furnished with fitted kitchen cabinets, hood and hob, two to four units of air conditioners (depending on unit size), and a digital smart lock at the main entrance. This helps purchasers as it makes units tenant-ready, and there’s also housekeeping services.
Depending on the unit type, units are allocated either one parking bay or a tandem parking bay. Facilities are located on Level 7, featuring a variety of facilities, including a swimming pool, gym room with viewing deck, multi-purpose hall, game room, children’s playground, and more. Do refer to the ‘Introduction’ section above for the full list.
Sunsuri Residences features three towers with these views:
- Tower A1 (Type A, B & C): Pool view / Airport view
- Tower A2 (Type B & C): Pool view / Bayan Lepas view
- Tower B (Type B & D): Pool view / Sungai Ara view
The type A dual-key units feature 2 bedrooms and 1 bathroom, and the master bedroom in all units feature an en-suite bathroom. The indicative maintenance fee for Sunsuri Residences is RM0.22 per sq ft, plus 10% sinking fund. The developer is also offering free maintenance fee for the first year. Sunsuri Residences’ units start from RM253,000.
|
Unit Types |
Built-Up |
|
Type A |
· 800 sq ft · Dual key · 3 bedrooms · 2 bathrooms |
|
Type B |
· 640 sq ft · 2 bedrooms · 2 bathrooms |
|
Type C |
· 480 sq ft · 1 bedroom · 1 bathroom |
|
Type D |
· 700 sq ft · 3 bedrooms · 2 bathrooms |
Location
Sunsuri Residences enjoys accessibility to other parts of Penang via Jalan Sungai Tiram 1, which is connected to major roads such as Jalan Sultan Azlan Shah and Tun Dr Lim Chong Eu Highway. Served by these network and two bridges, it’ll take a few short minutes for residents to get to reach George Town or the mainland. Additionally, Penang International Airport is about a 3-minute drive away.
One key point is that the proposed Bayan Lepas LRT line is set to service this area via two stations – Sg. Tiram station and Penang Airport station. Plus, it is within the designated feeder service catchment area.
On top of being in a mature neighbourhood and self-sufficient township, Sunsuri Residences is close to a plethora of amenities such as international and local schools, universities, hospital, banks, airport, shopping malls, eateries, golf courses, and many more.
Sunsuri Residences is also close to many schools, including SRJK Heng Ee and SMJK Heng Ee (Cawangan Bayan Baru), which are located right across the street. Other schools close by include SJK (C) Chung Shan, SJK (C) Chong Cheng, SMK Sungai Ara, and Straits International School.
Accessibility
- Jalan Sungai Tiram 1
- Jalan Sultan Azlan Shah
- Tun Dr Lim Chong Eu Highway
- Penang International Airport – 1.4km
- Penang Second Bridge – 8.4km
Education
- SMJK Heng Ee (Cawangan Bayan Baru) – 230m
- SMJK Heng Ee – 10km
- SJK (C) Chung Shan
- SJK(C) Chong Cheng
- SMK Sungai Ara
- Straits International School
- PSDC (Penang Skills Development Centre) – 4.6km
- USM – 7.5km
Medical Care
- Pantai Hospital – 3.6km
Shopping
- Sunshine Square – 4.2km
- Queensbay Mall – 6.9km
Recreation
- Setia SPICE Arena – 4km
- Penang Golf Club – 6.2km
Analysis
Sunsuri Residences has a location on its side as it’s near Bayan Lepas Free Industrial Zone, Penang International Airport, commercial hubs and SPICE Arena. For investors, the potential tenants could be employees of multi-national companies there. For short-term rentals, the property could gain interest from business travellers on short visits, tourists on holidays or those attending special events.
Sunsuri Residences is also just a stone’s throw away from Tree Sparina by Ideal Property Group, and Mpire Residences development by Paramount Solaris Sdn Bhd. According to the PropertyGuru Malaysia Property Market Index (MPMI) Q3 2021, Penang’s long run of gradual quarterly price contractions came to an end in Q2 2021, registering an upward tick of 0.95% QoQ in asking prices for the first time since Q4 2018. Bayan Lepas is one of the areas that registered a QoQ% increase in asking prices.
Here’s a quick look at residential properties in Penang.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Sunsuri Residences by Ideal Property Group |
Freehold |
Serviced Residence |
2023 |
480 sq ft – 800 sq ft |
From RM253,000 |
|
Summerton by GSD Land |
Leasehold |
Luxury Suites |
2014 |
1,733 sq ft – 2,694 sq ft |
From RM600,000 |
|
Fiera Vista by Ideal Property Group |
Freehold |
Condominium |
2014 |
1,450 sq ft – 1,655 sq ft |
From RM350 psf |
|
Tree Sparina @ Ideal Vision Park by Ideal Property Group |
Freehold |
Condominium |
2016 |
800 sq ft – 1,650 sq ft |
From RM500 psf
|
|
Imperial Residences @ Sungai Ara by Ideal Property Group |
Freehold |
Condominium |
2016 |
1,100 sq ft – 1,200 sq ft |
From RM500,000 |
|
Tropicana Bay Residences @ PWC by Tropicana Ivory Sdn Bhd |
Freehold |
Condominium |
2017 |
455 sq ft – 1,945 sq ft |
From RM359,900 |
|
The Clovers by Asia Green Group |
Freehold |
Condominium |
2017 |
776 sq ft – 2,907 sq ft |
From RM638,000 |
|
i-Condo @ One Foresta by Ideal Property Group |
Freehold |
Affordable Condo |
2019 |
900 sq ft |
From RM300,000 |
|
Forest Ville @ One Foresta by Ideal Property Group |
Freehold |
Condominium |
2019 |
1,000 sq ft – 1,050 sq ft |
From RM450,000 |
|
Golden Triangle 2 by GSV Development Sdn Bhd |
Freehold |
Condominium |
2019 |
1,161 sq ft & 1,238 sq ft |
From RM600,000 |
|
Setia Sky Ville by SP Setia |
Freehold |
Condominium |
2020 |
1,036 sq ft – 1,424 sq ft |
From RM758,000 |
Summary
Ideal Property Group has more than 6,000 completed residential and commercial development units and 15,000 more in the pipeline. Some of the group’s ongoing projects include Havana Beach Residences in Ideal City, Ideal Residency in Island Grades, Queens Residences Q2 in Queensbay, and The Amarene in Bayan Lepas. As for completed projects, they include Imperial Grande in Sungai Ara, ForestVille in Bayan Lepas, I-Santorini in Tanjung Pinang, One Foresta in Bayan Lepas, SummerSkye Residences in Bayan Lepas, Solaria Residences in Bayan Lepas, Tree Sparina in Bayan Lepas, and several more.
So, if you’re interested in a unit at Sunsuri Residences that’s priced at RM255,000, here are its estimated loan figures based on the PropertyGuru Home Loan Calculator and PropertyGuru Home Loan Eligibility and Affordability Calculator.
- LTV / margin of finance: 90%
- Down payment (10%): RM25,500
- Loan amount: RM229,500
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM1,031
- Approximate required gross annual income: RM40,000*
* Assumptions: You have no other monthly debt obligations, and 30% of gross income is spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
Can you afford the loan for this property?
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