Pretty convenient location if you know Jelutong well, so damn convenient that almost everything within walking distance. You have the morning market nearby, convenient store and so many food stalls around within short distance drive.

So if you were gonna ask me whether is it good for own stay / own usage, what I can comment is only location and convenient, good for own stay or not it is very subjective considering the price and you will find some people will complain about foreign or factory worker or hostel later. What to say?

In short, this is low medium cost and affordable category property, if you want to complain, raise your budget and buy somewhere else nearby like Sandilands, Grace Residence, Platino, Bayswater and etc.

It’s definitely ok for investment if you are able to secure the LMC (low medium cost) unit and also the cheaper affordable units. You might be wondering: Leasehold wor, can meh? Well my answer to you is: I don’t know.

Quite a few completed properties are able to convert from leasehold to freehold in Penang and if I’m not mistaken some examples are D’Piazza and Batu Kawan EcoWorld’s project successfully converted to freehold status. So, I only want to say anything can happen.

If you’d like a conservative answer, ask yourself if you’re able to rent it out at a rental rate that can offset your interest payment. If you think yes, then you’re good to pick up a unit here at Grace Harmony.

If you like a high ROI in terms of rental return you can consider getting a unit here which I think the ROI should be around 3% onward and if you’re lucky you can get 4% depends on the purchase price you get.

Again, ROI is a very subjective question. You buy early at the price of RM 450k and get a rental rate of RM 1,000 per month and your ROI will be 2.6%. If you buy later when the price increase let’s say to RM 500k and you get a rental rate of RM 1,000 per month your ROI of course will be lower i.e. 2.4%

If you’re ok with minimum rental rate of RM 1,000 then I think you’re safe to pick up a unit here. 

If you’re taking bank loan for sure it will be net cash outflow every month but as long as you can offset your bank interest with your rental income then should be fine.

And please don’t ask me can affordable or LMC rent out? The answer will be legally cannot but we all know Malaysia boleh.

There’s 444 units of affordable & 310 units of LMC so I presume around 50% will be for own usage / own stay purpose. 

Also, if you buy early you can sell early too due to the restriction of 5 years and 10 years for the affordable category projects.

What I like about Jelutong is location, super convenient and if you’re lucky you might be able to convert from leasehold to freehold in the future. 

Travelling distance of Grace Harmony to Georgetown and Bayan Lepas also within short distance.