Idaman Lavender is a freehold development by Koperasi Tunas Muda located in Sungai Ara, Penang. The development which consists of medium cost apartments was completed in June 2011. Neighbouring apartments include Idaman Cempaka, Sri Abadi Apartment, and Zan Pavillon.Within Idaman Lavender, there are 2 blocks, each block having 12 storeys, making a total of 352 units of apartments. Each apartment has 3 bedrooms and 2 bathrooms, with an average built-up of 750 sf. The price at launch was from RM165,000. Sub-sale prices since then have risen to at least RM310,000 as of Q3 2013.As Idaman Lavender is a medium cost apartment, facilities are sparse. Idaman Lavender has a 24-hour security patrol, and the nearest police station is 3.2 kilometres away at Sungai Nibong Police Station. A community hall is available for the residents upon notifying the management. There is a nursery located at the ground floor, along with a playground. Surau facilities for males and females are available as well. The shopping complexes nearest to Idaman Lavender are the Bukit Jambul Complex and the Sunshine Square. The nearest community market is the Sungai Ara Wet Market located at the junction between Jalan Tengah and Jalan Dato Ismail Hashim. The township of Bayan Lepas is less than 1.5 kilometers away where a wide array of amenities are available, including eateries, banks, and mini-marts. The nearest schools are SRJK Sungai Ara, SRK Seri Relau, and SJK (C) Chong Cheng. The nearest tertiary institution is the Universiti Sains Malaysia(USM), less than 5 kilometers away; and the nearest hospital is Hospital Pantai Mutiara, which is less than 2 kilometers away. Traffic along Idaman Lavender’s main road, Jalan Dato Ismail Hashim, varies between moderate and very heavy throughout the day. In terms of public transport, the nearest bus stop is in the town of Sungai Ara, which is roughly 15 minutes away by foot. There is an airport nearby, which is the Penang Airport (PEN) located in Bayan Lepas, some 6 kilometers away.
Property Details
Name: Idaman Lavender Address: Jalan Dato Ismail Hashim, Sungai Ara, 11900 Penang Developer: Koperasi Tunas Muda Sungai Ara Completion Date: June 2011 Type: Apartment Tenure: Freehold No. of Blocks: 2 No. of Storey: 12 No. of Units: 352 No. of Bedrooms: 3 No. of Bathrooms: 2 Built-up: 750 sf Maintenance Fee: Approximately RM77 Launch Price: From RM165,000 Subsale Price: Rental: Facilities
Community hall Nursery 24 hour security PlaygroundAnalysis
The developer is Koperasi Tunas Muda Sungai Ara, is involved in several controversial incidents with regard to the developments in Penang. There have been allegations that the developers are unscrupulous in their ethical practices of development, marginalizing sects of the society in favour of their own. The cooperative, having been established since 1966, has been active in the developing the area of Sungai Ara for decades. Workmanship on their part has generally been regarded as satisfactory. Purchasers are drawn by the fact that the apartments are relatively low-people-density, low monthly maintenance, and pretty good looking given the price.The appreciation of price for the units in Idaman Lavender was 40-50% within 2 years of obtaining the Occupancy Certificate (OC). At the time, the market was cautiously optimistic due to new housing guidelines released by Bank Negara. Furthermore, many developments set to take place within the immediate area have attracted further investors. The area is ideal for own stay as it is a strategically located area where people density is low, a fact especially important in the small island of Penang where there the population is estimated to be at 1.5 million as of 2013. Despite the relatively low density, traffic congestion at the area is inevitable. With the market being so optimistic about the developments in the area, the units are suitable for investment purposes as well.
