Miami Green

Miami Green is a resort condominium developed by one of Penang's renowned property developers, the Belleview Group. The developer has more than 25 years of experience in property development since its inception in 1984. Miami Green, which is one of Belleview's pride, was completed in 1999 and consists of seven blocks of condo units. It has five 29-storey high-rise blocks and two low-rise blocks with a total of 456 units. There are two types of layouts, namely the standard units and the duplex penthouse units with built-up areas ranging from 1,050 sf to 2,380 sf.Miami Green is located at one of Penang's prominent addresses at Batu Ferringhi. Nestled at Jalan Pantai Miami, Miami Green is accessible via Jalan Batu Ferringhi. There are basic amenities at nearby area namely food outlets, schools (SJKC Pai Chai and Dalat International School), Tanjung Bungah wet market and community hall, shopping malls (Island Plaza, Gurney Plaza) and many others. This freehold condo is also within walking distance to the beach.

Property Details

Name: Miami Green

Address: Jalan Pantai Miami, Batu Ferringhi, Penang

Developer: Belleview Group

Completion Date: 1999

Type: Condominium

Tenure: Freehold

No. of Blocks: 7

No. of Storey

Low Rise: 4-5

High-Rise: 29

No. of Units: 456

Maintenance Fee: RM0.18 psf

Subsale Price:

Rental:

Layouts

Standard

High-rise: 1,050 – 1,060 sf

Low-rise: 1,230 – 1,590 sf

3 bedrooms, 2 bathrooms

422 units

Duplex Penthouse

2,160 – 2,380 sf

4 bedrooms, 3 bathrooms

34 units

Facilities

24-hour security

Swimming pool

Wading pool

Jacuzzi

Gymnasium

Tennis court

Children's playground

BBQ pit

Community hall

Analysis

With five high-rise and two low-rise condo blocks and a total of 456 units, Miami Green is considered to be a high density development. However, with only four units on each floor for the standard units and two units per floor for the duplex penthouse unit, property owners’ privacy is clearly not compromised even though the whole development houses seven residential blocks of condo. Miami Green may be located at a very popular area but there is one major concern that potential property buyers should consider. There is only one access road leading to Miami Green once one exits Jalan Tanjung Bungah and enters Jalan Batu Ferringhi. To certain property owners, this could be a sign of exclusivity of the property but in terms of practicality, it would obviously be troublesome for accessibility to other areas within Penang Island.Miami Green's location provides property owners panoramic views of Penang Island’s beautiful stretch of beaches as well as lush green hills. However, as this condo sits on a plot of freehold land at the foothill / hill side, slope stabilization works were said to have been carried out by the condo's initial property management. The slope stabilization works may be beneficial to owners, as it could prevent unforeseen circumstances like landslides from occurring. However, due to the condo's location, one needs to be further reminded that the slope stabilisation works do not fully guarantee that incidents like landslides would not happen as there are many other factors which take into account for such an occurrence. Previously, there were also reports of water leakage through the pool deck, which has flowed to the car park. This was believed to be a major building defect, possibly caused by the use of inappropriate sealing materials. The drips of corrosive material due to the leakage had damaged many property owners' cars. Apart from that, the lifts at Miami Green are also frequently out of service. As each block only has two lifts, it causes inconveniences to residents each time either one or both of the lifts are out of order.Miami Green's location has made it very popular among expatriates as well as property buyers under the Malaysia My Second Home (MM2H) program. The condo's popularity has definitely become a positive factor for property investment. In view of its pricing, its subsale value is still comparable to that of new developments around the same area. Even though this condo is already 10 years old, there is still high demand on it particularly from expatriates and foreigners under the above-mentioned MM2H program for mid to long term stay. Apart from that, Miami Green is also available for short stays. This may be lucrative to property investors but the high turnover rate of tenants moving in and out could be an annoyance to property owners staying at this condo. From the investment point of view, the condo seems to be a good buy. However, if one intends to buy this property for own stay, the accessibility issue as well as other drawbacks mentioned above should be taken into consideration before any decision is made.