The Wave, George Town
Ivory Properties Group Berhad · Serviced residence · Freehold · Completed
From RM 750,000 · 1,255 sq ft
- 1Price against the areaRM 598-48% vs new launches nearby+10% 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 598 per sq ft
- 4Cost and risksRM 91,500Cash upfront and RM 3,111 a month after that
The Wave is a freehold serviced residence in George Town, Penang, by Ivory Properties. Prices start from RM750,000 for a 1,255 sq ft unit, about RM598 psf. That is 10% 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
Penang Times Square, George Town, George Town, Penang
Nearby, as listed by the developer
- KOMTAR
- UNESCO World Heritage Site (George Town)
1The Wave price compared with the area
Prices start from RM 750,000. With the smallest layout at 1,255 sq ft, that works out to about RM 598 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 in the middle half 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 |
|---|---|---|
| Goodwood ResidenceBayan Lepas | RM 556 | -7% |
| Setia Sky VistaRelau | RM 553 | -8% |
| ForescapeSeberang Perai | RM 551 | -8% |
| Pinnacle Bukit GambierBukit Gambier | RM 547 | -9% |
| Ferringhi Residence 2Batu Ferringhi | RM 653 | +9% |
| Altus ResidencySeberang Perai | RM 654 | +9% |
| M AmayaBayan Lepas | RM 666 | +11% |
| VersaBatu Kawan | RM 526 | -12% |
4Cost and risks
Starting priceRM 750,000
Monthly instalment
RM 3,111
Cash upfront (down payment and stamp duty)
RM 91,500
- Down payment
- RM 75,000
- Stamp duty on the transfer
- RM 16,500
- Loan amount
- RM 675,000
- Total interest over the loan
- RM 631,785
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
- The project is completed. The price shown may be the launch price, so ask for the current price list.
- 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
- Ivory Properties Group Berhad
- Location
- Penang Times Square, George Town, Penang
- Property type
- Serviced residence
- Tenure
- Freehold
- Total units
- Not stated by the developer
- Blocks / towers
- Not stated by the developer
- Storeys
- Not stated by the developer
- Expected completion
- Not stated by the developer
The Wave photos
Our take
- The entry price per sq ft is close to the median for completed condos in George Town (+10%).
- Of the 8 new launches we track in George Town, it has the lowest entry price per sq ft.
- Other new launches at a similar price per sq ft: Goodwood Residence (RM 556 psf), Setia Sky Vista (RM 553 psf) and Forescape (RM 551 psf).
- House prices in Penang rose 16.6% over the last four years.
- The project is completed, so you can view a finished unit before you buy.
More new launches in George Town
Other new launches in Penang
The Wave: common questions
Is The Wave freehold or leasehold?
The developer lists it as freehold.
Can foreigners buy The Wave?
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.