Setia SV2, George Town
S P Setia · Freehold · Selling
From RM 855,000 · 1,087–1,647 sq ft · Completion 2030
- 1Price against the areaRM 787-31% vs new launches nearby+44% vs completed condos
- 2The area+16.6%Change in Penang house prices over the four years to Q1 2026
- 3Other options at this price8other new launches within 15% of RM 787 per sq ft
- 4Cost and risksRM 105,150Cash upfront and RM 3,547 a month after that
Setia SV2 is a freehold condominium in George Town, Penang, by S P Setia. The developer has not published a price we can match to a layout. On PropertyGuru, a 1,087 sq ft unit has an asking price of RM855,000, about RM787 psf. That is 44% above the NAPIC 2025 median of RM546 psf for completed condos in the Timur Laut district. Checked against the developer's website on · Developer's project page
Location
Jelutong, George Town, Penang
Nearby, as listed by the developer
- Han Chiang High School
- Penang Free School
- Lam Wah Ee Hospital
- Penang Bridge
- Komtar
1Setia SV2 price compared with the area
The developer has not published a price we can match to a layout. On PropertyGuru (listed 8 Sep 2026), a 1,087 sq ft unit has an asking price of RM 855,000, about RM 787 per sq ft. That is an agent's asking price. The developer has not confirmed it.
PropertyGuru · 8 Sep 2026 · checked 2026-09-29
NAPIC recorded 9 completed condos in the Timur Laut district in 2025. That area includes George Town. Its entry price per sq ft is higher than three quarters of the prices recorded in the area. New launches usually cost more per sq ft than completed condos nearby.
See the 9 completed condos NAPIC recorded in the Timur Laut district on the area page.
- The WaveRM 598
- Lumina ResidenceRM 731
- Setia V ResidencesRM 753
- Setia SV2RM 787
- Crown PenangRM 1,147
- Merione ResidencesRM 1,496
- Lightwater ResidencesRM 1,780
- G'VintonRM 1,848
Each developer's starting price divided by its smallest layout, unless the developer states a price per sq ft.
2The area
- Timur LautRM 753 · 11 launchesRM 546
- Barat DayaRM 556 · 5 launchesRM 500
- Seberang Perai TengahRM 434 · 6 launchesRM 368
- Seberang Perai UtaraRM 442 · 1 launchRM 362
NAPIC 2025 data. Only areas with at least 5 recorded schemes are listed. Hover or tap an area for details.
Completed condos in Timur Laut changed -2.2% in price from 2024 to 2025 and -1% in the first half of 2026 (NAPIC, median per condo). See the price trend
House prices in Penang rose 16.6% in the four years to Q1 2026P, against 14.2% for Malaysia. See the state price and supply charts on the George Town page.
3Other options at this price
↑ Starting price
| Project | Entry psf | vs this |
|---|---|---|
| M ZenniBayan Lepas | RM 772 | -2% |
| Setia V ResidencesGeorge Town | RM 753 | -4% |
| Lumina ResidenceGeorge Town | RM 731 | -7% |
| MezonBatu Kawan | RM 696 | -12% |
| Nexus Taman PertamaCheras, Kuala Lumpur | RM 786 | 0% |
| Temasya PrismaShah Alam, Selangor | RM 785 | 0% |
| Adison Serviced ApartmentsJohor Bahru, Johor | RM 789 | 0% |
| D'Terra ResidencesPetaling Jaya, Selangor | RM 784 | 0% |
4Cost and risks
Listed asking priceRM 855,000
Monthly instalment
RM 3,547
Cash upfront (down payment and stamp duty)
RM 105,150
- Down payment
- RM 85,500
- Stamp duty on the transfer
- RM 19,650
- Loan amount
- RM 769,500
- Total interest over the loan
- RM 720,235
Based on the starting price, with stamp duty on the transfer only. Legal fees and loan stamp duty are extra. We apply the first-home exemption only up to RM500,000. Confirm it with your lawyer.
Things to check
- In Penang a foreign buyer needs state consent and can only buy a unit priced at RM 1,000,000 or more.
Project details+
- Developer
- S P Setia
- Location
- Jelutong, Penang
- Property type
- Not stated by the developer
- Tenure
- Freehold
- Total units
- 268
- Blocks / towers
- Not stated by the developer
- Storeys
- Not stated by the developer
- Expected completion
- 2030
Setia SV2 floor plans and photos
Setia SV2 layouts
| Layout | Size | Bedrooms |
|---|---|---|
| Type C | 1,647 sq ft | – |
| Type C2 | 1,647 sq ft | – |
| Type C3 | 1,647 sq ft | – |
Our take
- The entry price per sq ft is 44% above the median for completed condos in George Town. A gap of this size is common for a new launch.
- Of the 8 new launches we track in George Town, it has the 4th lowest entry price per sq ft.
- Other new launches at a similar price per sq ft: M Zenni (RM 772 psf), Setia V Residences (RM 753 psf) and Lumina Residence (RM 731 psf).
- House prices in Penang rose 16.6% over the last four years.
More new launches in George Town
Other new launches in Penang
More new launches by S P Setia
Setia SV2: common questions
Is Setia SV2 freehold or leasehold?
The developer lists it as freehold.
When will Setia SV2 be completed?
The developer gives 2030 as the expected completion date.
Can foreigners buy Setia SV2?
Penang sets a RM 1,000,000 minimum for foreign buyers. The developer does not list a full price range, so check the price of the unit you want.
Sources
Project facts come from the developer's website. Area prices and yields come from NAPIC's Laporan Pasaran Harta 2025. State figures come from the MHPI (Q1 2026P) and the NAPIC overhang tables (Q1 2026). No developer pays us.