Pearl Residences semidee in Batu Ferringhi sold for RM1.6m to MM2H buyers

A semidee house at Pearl Residences, Batu Ferringhi, Penang, has been sold for RM1.6 million. The buyers, Chinese nationals with Malaysia My Second Home status, plan to use it as their long-term family home due to its quiet location and proximity to the beach.

A semidee house at Pearl Residences in Batu Ferringhi, Penang, has been sold for RM1.6 million, according to Kevin Poh (REN 80525) of PropNex Realty Sdn Bhd. The buyers, who are Chinese nationals holding Malaysia My Second Home (MM2H) status, were drawn to the property’s quiet location and its walking distance to the beach, having holidayed in the area numerous times.

The property had never been occupied, leaving it in pristine condition, which was a distinguishing feature. The buyers view it as their long-term home in Malaysia, with sufficient space for their growing family and visiting parents. The previous owners had wanted to gradually liquidate their assets for retirement, and the property was on the market for six months before the sale.

For comparison, a Jan 6, 2022 transaction saw a semidee home at Lengkok Sungai Emas 1, Batu Ferringhi, with a land size of 2,917 sq ft sold at RM1.05 million, reflecting a price of RM359.96 psf (source: EdgeProp EPIQ). As of end-October, based on five sale listings on EdgeProp of semidee homes at Pearl Residences, the average asking price was RM2,137,600 or RM861.41 psf, based on land sizes ranging from 2,400 to 2,594 sq ft. Based on one rental listing, the asking monthly rate was RM8,799 or RM3.46 psf based on land size of 2,540 sq ft.