Taman Sri Bunga

Taman Sri Bunga is a freehold apartment located in the town of Jelutong in the state of Penang, on the island. It is located north of the capital Georgetown, at approximately 10 minutes drive away. The Penang Bridge which connects the island to the main land is less than 10 minutes away, while the Penang International Airport is approximately 20 minutes away south of the island.Taman Sri Bunga is a medium cost apartment which shares the same name with another condominium in Penang, located in the township of Sungai Dua. This medium cost apartment stands at 12 storeys tall, with a high density of 276 units housed within two blocks. It has a standard layout of 3 bedrooms and 2 bathrooms, with average built-ups of 750 sf. Prices of these apartments are between RM340,000 and RM500,000.Constructed in the 1990s, Taman Sri Bunga is a fully occupied apartment with a number of units for sale. All apartment units that are being sold in the market are already partially furnished, with fan and light fixtures, in-built kitchen cabinets, and the occasional in-built wardrobe. Additional safety grills are also very much amongst the norm, while some of the units have had renovations done on them.Taman Sri Bunga was originally designed to be a medium low cost apartment with prices of below RM150,000, and as such does not offer much in terms of facilities. There are covered parking lots where each unit is allocated one spot, as well as uncovered communal parking lots where the less fortunate residents have their spot at. Taman Sri Bunga is one of the more highly sought after apartments as it is very centrally located. The closest shopping mall is the 1st Avenue Mall, while only slightly further is the high end Gurney Plaza which is less than 15 minutes away. Banks are also within easy reach within the neighbourhood within walking distance.Both primary and secondary schools are widely available in the vicinity of Taman Sri Bunga, as well as eateries and restaurants. The closest medical institution is the Penang Adventist Hospital, which is a mere 10 minutes away while the popular tourist attraction Gurney Drive is only 10 minutes away. Taman Sri Bunga is a very well connected neighbourhood, as is site just off Jalan Perak, which connects directly to Jalan Jelutong, and access to the Tun Dr. Lim Chong Eu Highway is convenient. Public transportation is equally as convenient, as there is a bus stop on Jalan Perak within walking distance where bus number 206 from Rapid Penang passes through.

Property Details

Name: Taman Sri Bunga

Address: Off Jalan Perak, Taman Continental, 11900 Jelutong, Penang

Type: Apartment

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 12

No. of Units: 276

No. of Bedrooms: 3

No. of Bathrooms: 2

Built-up: 750 sf

Subsale Price: From RM340,000

Rental: From RM750

Facilities

Covered parking lot

Market Trends

Analysis

Taman Sri Bunga is one of the many apartments in the area, surrounded by many housing developments. As such, density within the area is on the high side, which affects traffic win the area rather badly. Residents can expect the main road of Jalan Jelutong to be rather congested even during the afternoons, where it significantly worsens during peak hours in the evenings. Taman Sri Bunga was originally intended to be a medium low cost development with prices starting from RM120,000. As such, the original buyers were all of the lower income group, and newcomers may expect many working class neighbours. Other than that, the neighbourhood is relatively safe with no complaints of break-ins and such.Taman Sri Bunga would never have been deemed to be a good investment, however market trends have proven speculators wrong with a price increase of triple to quadruple over the last 10 years. The ceiling price might however have been met, as property speculators have other much better prospects with the new developments. Taman Sri Bunga is rather pricey; however it is rather well maintained and might just be worth its price if the buyer is looking for a place close to the city.