This was announced as Penang state’s first privately-initiated affordable housing project. Not much details were available except that the project is in Mount Erskine in Tanjung Tokong. However, with a price of just RM299,000, I can safely say that the number of registrants would far outnumber the total units available. Per sf basis, it is at RM373. For a condo, within Penang island and in Tanjung Tokong, I seriously think there is no such deals available even today. Oh yeah, I believe these condos should be under the moratorium whereby buyers cannot sell their unit for 10 years.

There’s also another 390 units of low-medium cost apartments of 650sf priced at just RM72,500 each. Actually if you are family members and you happen to be able to get a unit side by side, that's just RM145,000 for a total of 1,300 sf! The GDV for this whole project is estimated at RM400 million and is expected to comment in the third quarter of this year.

Can't search much info about the developer Aspen Group, is it new? By the way, I think i involves collaboration with the state gov, so the screening process should be quite stringent I supposed. Probably for first time home buyer, Penangite, mid/low income group etc.. Any idea where is the site? Somewhere near the cemetery?

Heard its right next to a big cemetery. Anyone can verify?   

Heard its right next to a big cemetery. Anyone can verify?   

now that they have launched it, anyone would like to give your own comment if it's worth buying?
i am lucky enough that i am entitled to purchase a unit. but now i am concerning if it is a good buy, considering that it is high dense and it is combined with LMC, you dont get to choose the unit and you must pay deposit before drawing the lots, you dont get refunded if you don't like unless your loan got rejected. afterall, RM330k (inluding an additional car park-compulsory) 800Sqft with all the concerns listed above is not so "affordable" anymore.
Plus you must go through the state gov (according to aspen) if you would like to sell it 5 years later. Hmmmm...
i can only find as lil information as there is on Aspen group, not sure if they will be like Ivxry.