Rivere Garden, located in the Seberang Jaya township. The tenure of the entire development is freehold, and the developer, CSY Development, expects the development to be complete by Q3 of 2014. The development will consist of 2-3 storey terrace houses, and 3 storey semi-detached houses. All units would have 4-5 bedrooms and 4-5 bathrooms, at the rough price of RM500,000.The location of Rivera Garden is within Seberang Jaya township; therefore, amenities are readily available along with a Carrefour Hypermarket less than 600 metres away from the site. There is also the Sunway Carnival Mall less than 2 kilometres away. The nearest township where amenities could be accessed is the Seberang Jaya township, where 7 bank branches could be found, along with eateries and minimarkets. There are several schools nearby including SK Permatang Pauh, SRJK © Lay Keow, and SMK Permatang Pasir. The area of Seberang Jaya, in which Rivera Garden is situated, allows easy access to North-South Highway (PLUS), Butterworth Outer Ring Road (BORR) and Butterworth Kulim Expressway (BKE). It is well connected as it takes mere minutes to reach said highways. It also takes roughly 20 minutes in normal traffic to reach the township of Butterworth.
Property Details
Name: Rivere Garden Address: Seberang Jaya, Penang Developer: CSY Development Completion Date: Q3 2014 (estimate) Type: 2 & 3-Storey Terrace & 3-Storey Semi-D Tenure: Freehold No. of Storey: 2 or 3 No. of Bedrooms: 4-5 No. of Bathrooms: 4-5 Land Area: 1,540 sf – 5,317 sf Built-up: 2,214 sf – 4,807 sf Launch Price: From RM398,000 Subsale Price: From RM650,000Layouts
Porto Vecchio 2-storey terrace with 4 bedrooms + 4 bathrooms 1,540 sf – 3,983 sf of land (2,214 sf – 2,626 sf built-up) Saint Tropez 3-storey terrace with 4 bedrooms + 5 bathrooms 1,540 sf – 4,230 sf of land (2,933 sf – 3,070 sf built-up) Cote D’ Azur 3-storey semi-detached house with 4 bedrooms + 5 bathrooms 3,541 sf – 5,317 sf of land (4,807 sf built-up)Analysis
What’s on the table is the price of roughly RM250 psf for a piece of Penang mainland’s outskirt. To the east is a large swathe of agricultural land where there several villages are located. It is near an established township of Seberang Jaya, as well as having Butterworth town being 20 minutes away. The price is rather steep considering its location, but could also be considered reasonable given the state of the Penang property market’s current (Q4 2013) situation. The property is ideal for own-stay or for retirement if one is looking for peace and quiet by the countryside.With all that said, there are also a few cons to the property. There are no facilities to speak of within the development, as the developers currently have no plans to include a jogging track or 24 hour security. Certain prospective buyers also surveyed the site and concluded that the area is not very desirable as there are a lot of monkeys currently inhabiting the forest nearby. One person commented that there are some “mat rempit” groups whom frequent the area as well.
