Medan Ria is a medium low cost apartment in Georgetown, Penang located along the road of Jalan Samak. Neighbouring it is a new development, also a medium low cost apartment called Silverdale, as well as a few other apartments of the same kind which are Seri Kota, Medan Samak and Sri Pelangi. Medan Ria is freehold, and its completion date and developer are unrecorded; although if looks were an indication of age then it is a rather old apartment that is in bad need of a new coat of paint. Density is rather high here with 2 blocks of apartment, one of which is 6 storeys in height and the other 9 storeys. With a total of 158 units there are approximately 10 units to a floor. Each unit has a 3 bathrooms and 2 bathrooms, and the general built up for these homes are 700 sf. Units here are selling for about RM320,000 while rental starts from RM750 a month. Most of the units on sale here are pre-owned therefore many of them are partially if not fully furnished as well as renovated. Most of them already have kitchen cabinets, hoods and hobs, while others have built in cupboards and the like. Being a medium low cost apartment, it does not offer much in terms of facilities. Each unit is allocated 1 parking lot, whether it is at the uncovered communal parking lot or at the highly limited covered parking lots. The general safety of the apartment is taken care of by the 24-hour security.Although not much is offered in terms of facilities, Medan Ria nevertheless has its prime location to offer to its residents. Set only 1.3 kilometres from the Magzine Circle, this apartment is almost literally surrounded by eateries, mini marts and shops. Schools in the area include the Penang Japanese School, SMK Abdullah Munshi and SJK Sum Sun. Within a short driving distance is Penang Times Square as well as other shopping malls. The Penang Bridge and Jelutong Express are also easily accessible. It is highly accessible via Jalan Dato Keramat which is a major trunk road.
Property Details
Name: Medan Ria Address: Jalan Samak, 10150 Georgetown, Penang Type: Apartment Tenure: Freehold No. of Blocks: 2 No. of Storey: 6 & 9 No. of Units: 158 No. of Bedrooms: 3 No. of Bathrooms: 2 Built-up: 700 sf Subsale Price: Rental: Facilities
Covered parking Communal parking 24-hour securityAnalysis
Medan Ria is a centrally located home with convenient access to town, the Penang Bridge and the Jelutong Express. The advantages of being so well located are obvious, but the consequences are that the residents will need to face daily traffic congestion that never seem to let up. The neighbourhood is thick with residential areas, and most of them are similar to Medan Ria as medium low cost homes. No break ins and snatch thefts have been reported within the vicinity therefore it may be safe to say the crime rate here is low.Buyers and speculators alike might be wary of purchasing a home in Medan Ria because with the price that units here are selling for, buyers will be able to get better homes at maybe not so central locations; but nevertheless homes that do not look old and decrepit with moulding paint. The price is clearly overestimated and investing here might or might not bring good returns. Buying a home here does not seem to bode well either as the building does not seem to be very well well maintained; an issue that speaks volumes about the management.
