Foreign Buyer · Full Cost Sheet
The Foreign Buyer's Full Cost Sheet — RM2.5M in Penang
Every ringgit above the purchase price. Printable, saveable, and honest about what nobody else shows you.
RM2.5M is the tier where the units stop cutting corners — bigger balconies, deeper carparks, private-lift lobbies. It is also the tier where the above-price costs cross RM330K and quietly reset your budget. Here is what actually clears at signing.
The full cost stack
Every line item a foreign buyer clears at RM 2,500,000, in the order it hits your bank account. This is what you will actually pay — not what the sales gallery told you.
| Line item | Amount (RM) | Running total |
|---|---|---|
| Purchase price | RM 2,500,000 | RM 2,500,000 |
| SPA stamp duty (foreign: flat 8%) | RM 200,000 | RM 2,700,000 |
| Loan stamp duty (0.5% on RM 1,750,000 at 70% LTV) | RM 8,750 | RM 2,708,750 |
| Legal fees (SPA + Loan) ~1% | RM 25,000 | RM 2,733,750 |
| Valuation fee | RM 3,000 | RM 2,736,750 |
| Foreign buyer levy (Penang Island: 3%) | RM 75,000 | RM 2,811,750 |
| State consent (COSA) fee | RM 10,000 | RM 2,821,750 |
| MOT / disbursements | RM 6,000 | RM 2,827,750 |
| Cash to close (100% cash buyer) | — | RM 327,750 above purchase |
| — with 70% bank loan option — | ||
| Down payment (30%) | RM 750,000 | |
| Above-price costs | RM 327,750 | |
| Cash needed at signing (70% LTV) | — | RM 1,077,750 |
Loan stamp duty and legal fees assume 70% LTV; a cash buyer drops the loan stamp line and pays roughly two-thirds of the legal fees. COSA is a Penang state fee — foreign buyers only.
Year-1 holding costs
What you pay just to keep the keys in your pocket for the first twelve months. Modelled on a typical 1,800 sqft unit at this price band.
| Item | Annual |
|---|---|
| Assessment (MBPP) | ~ RM 1,500 |
| Quit rent | ~ RM 250 |
| Maintenance (RM 0.35 / sqft × 1,800 sqft × 12) | ~ RM 7,560 |
| Home insurance | ~ RM 700 |
| Total year-1 holding cost | ~ RM 10,010 |
Exit RPGT preview (foreign owner, +20% hypothetical)
If you sold this RM 2,500,000 unit at RM 3,000,000 (a hypothetical +20%), your gain would be RM 500,000. The Malaysian RPGT bill by holding year:
| Sold in | RPGT rate | RPGT bill | Net after RPGT |
|---|---|---|---|
| Year 1 | 30% | RM 150,000 | RM 2,850,000 |
| Year 3 | 30% | RM 150,000 | RM 2,850,000 |
| Year 5 | 30% | RM 150,000 | RM 2,850,000 |
| Year 6+ | 10% | RM 50,000 | RM 2,950,000 |
This is a preview. The RPGT calculator has the full grid — including allowable costs and the year-5 vs year-6 comparison for your exact numbers.
Penang Island projects worth seeing at RM2.5M
A short list of Penang Island projects that price in at or around RM2.5M today.
gurney drive
W Residence Gurney Bay
Macrovest Sdn. Bhd. (VST Group)
From RM 2.370 mil
W Residence Gurney Bay is a 69-storey freehold tower of 498 branded residences opposite Gurney Plaza by Macrovest (VST Group), due in 2028. It's on residential title, which is unusual for a hotel-branded residence and makes running costs and loans behave like a normal condo. Homes run from about 1,033 to 3,670 sq ft, priced from about RM2.37M, up to roughly RM1,700 per sq ft, and about 75% were taken up at launch. Each comes with two parking bays. It suits buyers who want the brand, the height and the Gurney address, and can carry a premium price and service charges. It's not a short-stay play: residential strata on the island can't be licensed for homestay, and owners can't list on Airbnb themselves. Every unit clears the RM1M foreign-buyer minimum, so foreign buyers can choose any layout.
pulau tikus
Cantonment Residence
BSG Property and VST (joint venture)
From RM 2.600 mil
Cantonment Residence is BSG Property's boutique high-rise on Cantonment Road in Pulau Tikus — a single 34-storey tower of just 128 units, freehold, residential title, with completion around 2030. Pricing opens from about RM2.6M (roughly RM1,294 psf). The pitch is a scarce Pulau Tikus address at low density, in one of the island's most walkable expat pockets. The trade-off is a long runway: at a ~2030 completion, this is for buyers comfortable holding through a multi-year build. My take: the location and density are the assets here. If you want to lock a Pulau Tikus unit early and can wait out the construction period, it's worth a look. If you need something to move into soon, look at completed stock instead. Ask me for the current price list and payment schedule.
tanjung tokong
Andaman @ Quayside
E&O Property Development
From RM 1.280 mil
Andaman is the tower pair I point to when a buyer says "I want Quayside but newer." E&O built the Andaman series as the second phase of its seven-tower Quayside development: towers 1F and 1H (169 homes each, launched in 2012) and the final tower, 18 East, all complete by 2017. Freehold on residential title, next door to Straits Quay marina, sharing the resort deck and private water park that made Quayside famous. Asking PSF sits around RM1,100–1,950, below what new seafront launches in this area ask, so you're buying a proven address at yesterday's pricing. Pick the stack for the view: sea-facing and water-park-facing units price very differently.
Want the full sheet as a printable PDF + Zac's notes on the 3 specific projects at this price band?
I'll send you the RM2.5M sheet as a proper PDF, plus my private notes on the specific units, floors and stacks that are worth looking at right now — including what I'd skip.
Send me the RM2.5M sheet on WhatsAppZac usually replies within a few hours during Penang business hours.
Bottom line at RM2.5M: cash buyer clears RM 2,827,750 in total. With a 70% bank loan, cash needed at signing is RM 1,077,750. Year-1 holding around RM 10,010. If you sold at +20% in year 6, RPGT bill would be RM 50,000.
FAQ — RM2.5M foreign buyer
Does RM2.5M qualify for MM2H Platinum?
Yes. The MM2H Platinum tier requires a minimum RM2M residential property purchase in Malaysia. An RM2.5M Penang Island property clears that threshold with room, alongside the fixed deposit and income requirements.
What is the total above-price cost at RM2.5M?
About RM327,750 above the purchase — RM200,000 stamp duty (8%), RM75,000 levy (3%), RM25,000 legal (~1%), RM10,000 state consent fee, RM8,750 loan stamp duty (0.5% on RM1.75M loan), RM6,000 disbursements, RM3,000 valuation. Cash buyer at 100% clears RM2,827,750 total.
How much cash at signing for a 70% LTV loan?
Down payment RM750,000 plus RM332,750 above-price costs = RM1,082,750 cash at signing. Bank funds RM1,750,000 as the loan.
Is 70% LTV realistic at RM2.5M for a foreign buyer?
Yes, provided your DSR clears and the property is bank-panel. At this price the banks scrutinise offshore income more carefully — expect to submit two years of overseas tax returns, employment letter, and sometimes a professional reference.
What does year-1 holding cost look like at this tier?
Typical 1,800 sqft unit: maintenance ~RM7,560/year (RM0.35/sqft × 12), assessment ~RM1,500, quit rent ~RM250, insurance ~RM700 = about RM10,010 year-one holding. Rent one out and RM4,000/month gross clears holding easily.