Setia V Residences, George Town
S P Setia Bhd Group · Condominium · Not stated
From RM 3,100,000 · 4,118 sq ft · 4 bed
- 1Price against the areaRM 753-34% vs new launches nearby+38% 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 753 per sq ft
- 4Cost and risksRM 418,000Cash upfront and RM 12,860 a month after that
Setia V Residences is a condominium in George Town, Penang, by S P Setia. Prices start from RM3,100,000 for a 4,118 sq ft unit, about RM753 psf. That is 38% 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
Gurney Drive, George Town, Penang
Nearby, as listed by the developer
- Gurney Wharf
- Gurney Plaza
- Gurney Paragon Mall
- Island Plaza
- Penang Plaza
- Gleneagles Medical Centre
- Penang Adventist Hospital
- Island Hospital
- Penang Hospital
- Loh Guan Lye Specialists Centre
1Setia V Residences price compared with the area
Prices start from RM 3,100,000. With the smallest layout at 4,118 sq ft, that works out to about RM 753 per sq ft.
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 | +3% |
| Lumina ResidenceGeorge Town | RM 731 | -3% |
| Setia SV2George Town | RM 787 | +5% |
| MezonBatu Kawan | RM 696 | -8% |
| M AmayaBayan Lepas | RM 666 | -12% |
| Altus ResidencySeberang Perai | RM 654 | -13% |
| Ferringhi Residence 2Batu Ferringhi | RM 653 | -13% |
| Wave Serviced ApartmentJohor Bahru, Johor | RM 753 | 0% |
4Cost and risks
Starting priceRM 3,100,000
Monthly instalment
RM 12,860
Cash upfront (down payment and stamp duty)
RM 418,000
- Down payment
- RM 310,000
- Stamp duty on the transfer
- RM 108,000
- Loan amount
- RM 2,790,000
- Total interest over the loan
- RM 2,611,380
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
- Tenure is not stated: ask whether the land is freehold or leasehold.
- No completion date is published: ask for the vacant possession date and the late-delivery terms in the SPA.
- 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 Bhd Group
- Location
- Gurney Drive, Penang
- Property type
- Condominium
- Tenure
- Not stated by the developer
- Total units
- Not stated by the developer
- Blocks / towers
- 2
- Storeys
- Not stated by the developer
- Expected completion
- Not stated by the developer
Jacuzzi dipping pool · 11 levels of exclusive facilities
Setia V Residences photos
Our take
- The entry price per sq ft is 38% 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 3rd lowest entry price per sq ft.
- Other new launches at a similar price per sq ft: M Zenni (RM 772 psf), Lumina Residence (RM 731 psf) and Setia SV2 (RM 787 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 V Residences: common questions
Can foreigners buy Setia V Residences?
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.