Bayan Lepas, Penang • Condominium
Queens Waterfront 3 (Q3) is a freehold seafront condominium in Bayan Lepas, Penang by Ideal Property Group, 100m from Queensbay Mall. Market reference RM 997K-3.33M for 950-1400 sqft, 532 units…
Foreign buyers judge value in the units they buy at home. Convert the asking price and the price per unit of area.
Price from
S$312,061
Price per unit of area
S$328.49 / sq ft
Indicative only, at rates as of 12 August 2026 · Bank Negara Malaysia and market mid-rates
The short answer first — then dig into photos, price and risk below.
Queens Waterfront 3 (Q3) is a freehold condominium in Bayan Lepas, Penang, by Ideal Gim Venture Sdn Bhd (Ideal Property Group), priced from RM 997,000 (950-1400 sqft), completing Q4 2027, with an estimated gross rental yield of 3.4%–4.0%. Lewis Chong rates it 6.9/10 — a conditional buy. Worth studying, but only after confirming transaction evidence, rent, supply and unit selection.
Shortlist comparison. Long-term holding.
Check the floor plans first, then use the photos to judge facade, facilities and surroundings before you commit to a viewing.
Gallery
Project visual reference.
Select Floor Plan Type
Type A • Floor / layout plan
Queens Waterfront 3 Dual Key layout Type A — confirm exact built-up and orientation with Lewis.
Request current layout options, size range, facing, floor level, and available unit stack.
Check the practical details first before reading the deeper investment view.
Cross-check these details against the developer's brochure before you book a viewing.
Project Name
Location
Developer
Tenure
Completion Year
Price From
Built-up Range
Bedrooms
Total Units
Nearest Mall
| Project Name | Queens Waterfront 3 (Q3) |
|---|---|
| Location | Bayan Lepas, Penang |
| Developer | Ideal Gim Venture Sdn Bhd (Ideal Property Group) |
| Tenure | Freehold |
| Completion Year | Q4 2027 |
| Price From | RM 997K-3.33M |
| Built-up Range | 950-1400 sqft |
| Bedrooms | 2-3 |
| Total Units | 532 |
| Nearest Mall | Queensbay Mall (100m) |
A clean first scan of the project before you compare package, layout and risk.
Bayan Lepas, Penang seafront location
Condominium project, 100m from Queensbay Mall
Use these numbers as a shortlist guide for unit comparison.
A simple stress test factoring in vacancy buffer, rental guide and monthly holding guide.
Scenario
Monthly Rent
Cash Gap
Gross Yield
Vacancy Buffer
Monthly Holding
What it means
Scenario
Monthly Rent
Cash Gap
Gross Yield
Vacancy Buffer
Monthly Holding
What it means
Scenario
Monthly Rent
Cash Gap
Gross Yield
Vacancy Buffer
Monthly Holding
What it means
| Scenario | Monthly Rent | Gross Yield | Vacancy Buffer | Monthly Holding | Cash Gap | What it means |
|---|---|---|---|---|---|---|
| Conservative | RM 2,800 | 3.4% | 2 months / year | RM 4,567 | -RM 2,234 | Stress-test case. Use this when you want more buffer for vacancy, furnishing and rental competition. |
| Balanced | RM 3,050 | 3.7% | 1 month / year | RM 4,567 | -RM 1,771 | Base planning case. Useful for checking whether the project still feels comfortable after normal vacancy buffer. |
| Optimistic | RM 3,300 | 4.0% | 0.5 month / year | RM 4,567 | -RM 1,404 | Upside case. Only use after checking strong furnished rental evidence and tenant demand. |
This is a decision guide, not a guaranteed return. It excludes personal tax, insurance, special assessment and future rate changes.
Rent figures are benchmark estimates pending verification against current nearby listings and Brickz / EdgeProp / NAPIC transaction evidence — this site does not invent transacted prices.
Confirm nett price, rebate and booking terms before paying.
RM 99,700 down payment + RM 69,790 upfront buffers
The cash buffer figure shown in the calculator below already includes these upfront buffers.
Instalment assumes 90% margin, 4.2% p.a., 35 years — indicative of the current Bank Negara OPR environment; confirm actual rates with your bank.
Quick guide only. Lewis can help check a more realistic bank package before you book.
Estimated instalment
RM 4,081
Maintenance guide
RM 333
Sinking fund guide
RM 33
Assessment & quit rent guide
RM 120
Monthly holding guide
RM 4,567
Cash buffer guide
RM 144,565
Instalment assumes 90% margin, 4.2% p.a., 35 years — indicative of the current Bank Negara OPR environment; confirm actual rates with your bank.
Compare asking prices of nearby new launches in the same area and state for market context.
| Project | Property Type | Tenure | Price From |
|---|---|---|---|
| Queens Waterfront 3 (Q3)Current | Condominium | Freehold | RM 997,000 |
| Goodwood Residence | Condominium | Freehold | RM 700,000 |
| Lucerne Residence | Condominium | Freehold | RM 664,000 |
| Bayan Suite | Serviced Residence | Freehold | RM 511,000 |
| Skyline Penang @ Bukit Jambul | Condominium | Freehold | RM 500,000 |
Use this as a viewing checklist. Confirm exact travel time with Google Maps or Waze on your actual viewing day.
Nearest mall
Queensbay Mall (100m)
Lewis's honest take: overall score, realistic rental yield, the main risks, and which alternatives to compare before you decide.
Worth studying, but only after confirming transaction evidence, rent, supply and unit selection.
Suitable for
Avoid if
May not suit buyers who need confirmed walking distance to rail transit.
May not suit buyers who need to move in immediately or inspect the exact completed unit.
May not suit families who prioritise school and park convenience above all else.
Risk
Medium-High
Holding Period
5-8 years
Confidence
7.1/10
Lewis's screening model
6.9/10
Scored by the same model across every project on this site — price, tenure, location and rental demand. A screening aid, not a personal valuation.
Relative Value
Whether the entry price is justified by location quality, rental support, supply risk control and resale audience.
6.6/10
Location Score
Area strength, amenity depth, maturity and daily convenience.
7.1/10
Rental Demand
Tenant depth from jobs, lifestyle, education, medical, rail and city demand.
6.5/10
Accessibility
Rail, road, commute and practical access signals from public information and maps.
6.5/10
Future Growth
Infrastructure, commercial development, township maturity and growth catalysts.
7.0/10
Supply Risk Control
Higher score means healthier control against nearby competing supply.
7.7/10
Liquidity
Estimated resale audience depth and ability to exit later.
7.1/10
Score is a value-first Lewis framework using brochure facts, public map/infrastructure signals, rental-source checks, supply-risk control and market-source verification. A low price alone does not create a high score.
The score is not a decoration. Each factor points to what must be verified before booking.
Factor
Score
Why it matters
What to verify next
Factor
Score
Why it matters
What to verify next
Factor
Score
Why it matters
What to verify next
Factor
Score
Why it matters
What to verify next
Factor
Score
Why it matters
What to verify next
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Score
Why it matters
What to verify next
Factor
Score
Why it matters
What to verify next
| Factor | Score | Why it matters | What to verify next |
|---|---|---|---|
| Relative Value | 6.6/10 | Whether the entry price is justified by location quality, rental support, supply risk control and resale audience. | Compare price against location quality, rent support, supply risk and resale audience before treating it as a good deal. |
| Location Score | 7.1/10 | Area strength, amenity depth, maturity and daily convenience. | Check daily route, surrounding amenities, road access and actual neighbourhood feel. |
| Rental Demand | 6.5/10 | Tenant depth from jobs, lifestyle, education, medical, rail and city demand. | Compare current PropertyGuru, iProperty and SPEEDHOME rental listings before relying on the estimate. |
| Accessibility | 6.5/10 | Rail, road, commute and practical access signals from public information and maps. | Verify Google Maps or Waze travel time during peak hour, not only brochure distance. |
| Future Growth | 7.0/10 | Infrastructure, commercial development, township maturity and growth catalysts. | Check MRT Corp, DBKL, developer masterplans and latest area development news. |
| Supply Risk Control | 7.7/10 | Higher score means healthier control against nearby competing supply. | Compare nearby launches, completed stock, rental competition and density before booking. |
| Liquidity | 7.1/10 | Estimated resale audience depth and ability to exit later. | Check Brickz, EdgeProp and comparable resale supply so the exit audience is realistic. |
Expected rental
RM 2,800 - RM 3,300
Estimated yield
3.4% - 4.0%
Tenant profile
Shortlist comparison
Estimate only. Confirm current furnished rent, vacancy buffer, maintenance fee and competing completed supply before booking. Updated: August 2026 · brochure completion reference: Q4 2027.
Bayan Lepas, Penang seafront location Freehold tenure Condominium project, 100m from Queensbay Mall
Bayan Lepas, Penang seafront location
Freehold tenure
Condominium project, 100m from Queensbay Mall
RM 997K-3.33M
Built-up: 950-1400 sqft
May not suit buyers who need confirmed walking distance to rail transit.
Traffic and actual travel time should be checked during weekday peak hour.
Final package, rebate, car park allocation and legal fee support can change without notice.
Rental estimate should be checked against current completed supply nearby.
Construction timeline and VP date should be reconfirmed with the developer.
Likely target audience: local own-stay families, upgraders or practical renters in the surrounding area.
Common buyer questions, related projects and a shorter enquiry form for next-step checks.
The current market reference lists Ideal Property Group (via Ideal Gim Venture Sdn Bhd) as the developer. Queens Waterfront 3 (Q3) is in Bayan Lepas, Penang, 100m from Queensbay Mall, with completion reference Q4 2027.
Queens Waterfront 3 (Q3) may suit buyers comparing seafront condominium options in Bayan Lepas from RM 997K-3.33M with 950-1400 sqft built-ups and 2-3 bedroom layouts, including a Dual Key concept unit. Lewis can help compare the latest package, layout, rental angle and holding cost before you decide.
Queens Waterfront 3 (Q3) is a freehold condominium in Bayan Lepas, Penang, by Ideal Gim Venture Sdn Bhd (Ideal Property Group), priced from RM 997,000 (950-1400 sqft), completing Q4 2027, with an estimated gross rental yield of 3.4%–4.0%. Lewis Chong rates it 6.9/10 — a conditional buy. CONDITIONAL. Worth studying, but only after confirming transaction evidence, rent, supply and unit selection.
Queens Waterfront 3 (Q3) has a Lewis Investment Score of 6.9/10 based on relative value, rental demand, supply risk control, liquidity, location quality, accessibility and future growth. Low price alone does not make a project top tier.
Ask Lewis to verify current nearby rental listings as the starting rental check, then compare maintenance, vacancy and furnishing cost before making an investment decision.
The current framework labels the project risk as Medium-High. The final risk depends on latest nett price, unit selection, competing supply and rental evidence.
Queens Waterfront 3 (Q3) is most suitable for Shortlist comparison.
Queens Waterfront 3 (Q3) may not suit Short-Term Flipper, Buyer needing immediate move-in.
The exit strategy is to buy a unit with clear resale audience, practical layout, sensible entry price and rental demand that can still compete with nearby completed projects.
Buyers comparing Queens Waterfront 3 (Q3) usually also look at Skyline Penang @ Bukit Jambul (from RM 500,000), Lucerne Residence (from RM 664,000) and Goodwood Residence (from RM 700,000). The better choice depends on budget, area and purpose — compare by Lewis Score, commute, rent evidence, maintenance and layout.
Check Brickz, EdgeProp and NAPIC evidence for actual transaction range, completed comparable prices and supply trend before relying on asking price.
The suggested holding period is 5-8 years, subject to loan comfort, vacancy buffer, market cycle and personal exit plan.
Partially — the Penang foreign-buyer minimum is RM 1,000,000, so foreign buyers must choose units priced at or above that level; entry units from RM 997,000 are below it. State Authority Consent and the flat 8% foreign stamp duty still apply.
Foreign buyers pay a flat 8% stamp duty on the purchase price (effective 1 January 2026 under Budget 2025/2026, replacing the graduated 1%–4% citizen scale) — on an entry price of RM 997,000 that is roughly RM 79,760. Malaysian permanent residents (PR) continue to enjoy standard citizen rates.
Queens Waterfront 3 (Q3) can suit own-stay buyers comparing Bayan Lepas because it offers condominium options RM 997K-3.33M, with freehold tenure and layouts around 950-1400 sqft.
For investment, compare Queens Waterfront 3 (Q3) against nearby completed rental supply, realistic furnishing cost, maintenance fee and tenant demand before booking.
Ask for latest nett price, rebate, package validity, available unit stack, car park allocation, maintenance estimate, floor plan and loan comfort check.
Lewis Chong, REN 69566 under IQI Global, can help compare latest package, floor plan, loan comfort, rental logic and alternatives.
WhatsApp Lewis to verify the nearest MRT/LRT station and walking distance. Confirm actual walking distance and any covered link before relying on transit access.
The nearest mall reference is Queensbay Mall (100m), along with Queensbay Mall (100m) and Bayan Lepas, Penang. Confirm current retail, school and healthcare access before booking.
Yes. WhatsApp Lewis to request current layout types, size options, facing, floor level, available unit stack and floor plan images where available.
Ask for the latest nett price, rebate, car park allocation, legal package, booking terms and availability before paying any booking fee.
Yes. Share your budget, income range, commitments and preferred loan margin so the monthly instalment and cash needed can be estimated before viewing.
Get price list, floor plans — or book a viewing
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