SP Setia
Setia V Residences
Kelawai, Gurney Drive
From
RM 2.70M
RM 1000–1400 PSF · Completion 2017
Tenure
freehold
Title
TBC
Total Units
178
Completion
2017
- From
- RM 2.7M
- PSF
- RM 1000–1400
- Tenure
- freehold
- Total units
- 178
- Status
- completed
- Completion
- 2017
Zac’s Take
Zac Ong
Setia V Residences is S P Setia's Gurney waterfront project — twin towers (48 and 43 storeys), 178 units, freehold, completed in 2017. As a listed-developer product, build quality and management are relatively dependable.
Subsale asking sits around RM1,000–1,400 psf, with total prices from roughly RM2.7M. You're paying for a front-row Gurney position and larger luxury layouts, in a building young enough to feel current.
My honest take: this is a solid own-stay or long-let luxury unit on one of the island's best stretches. It's not a bargain play — Gurney rarely is — but the developer pedigree and the address hold value. Ask me which units have the cleanest sea aspect; on this stretch, facing is what separates a good buy from a fair one.
Facilities
What's nearby
🏥 Healthcare
- Gleneagles Penang1.2km
- Island Hospital2.0km
- Penang General Hospital3.5km
🎓 Schools
- SMK Convent Pulau Tikus1.0km
- Tenby International School1.5km
- PTPL College Penang1.5km
🛍 Shopping
- Gurney Paragon Mall500m
- Gurney Plaza800m
- Midlands Park Centre1.5km
💎 Premium tier — what actually matters
At this price tier, buyers care about a different set of numbers
Most Setia V Residences buyers pay cash or use private banking — so monthly instalments aren't the metric. The questions Zac gets asked are:
- · Resale liquidity — how long to find a buyer in 5 years
- · Capital appreciation — what the area has done over 3, 5, 10 years
- · Carrying cost — maintenance + tax + utilities, not loan
- · Estate planning — title structure, inheritance handling
- · Foreign buyer levy & consent — true total cost basis
- · Lawyer / private banker network — who handles transactions well
Gurney Drive — area snapshot
Full area guide →Gurney Drive is Penang's prestige address for high-end residential. Limited land and consistent demand from local professionals and overseas Malaysians keep prices elevated.
Price range
RM 800K – RM 3.3M
asking prices in area
Active projects
1
selling or under construction
Subsale condos
7
completed projects
Total tracked
9
properties in this area
Total Cost Breakdown
Every cost you'll pay — stamp duty, legal fees, loan documentation, foreign levy. Real Penang numbers, not generic Malaysia estimates.
| Downpayment | RM 270,000 |
| SPA stamp duty | RM 92,000 |
| SPA legal fee | RM 24,850 |
| MOT stamp duty (at VP) Tiered 1–4% on transfer value. Paid at Vacant Possession stage. Buyer's cost — rarely absorbed by developer. | RM 92,000 |
| Loan stamp duty (0.5%) | RM 12,150 |
| Loan agreement legal fee | RM 12,150 |
| Valuation fee | RM 3,500 |
| Search, admin, misc | RM 1,000 |
| Gross upfront total | RM 507,650 |
New launch — typical developer savings
Toggle what the developer is absorbing. Confirm the actual package before signing.
Net upfront (after savings)
Based on typical 2026 new launch package
Estimates based on 2026 Penang state rules. Actual costs vary by bank, lawyer, and case complexity. Confirm exact figures with Zac →
Frequently asked questions
Is Setia V Residences freehold?
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What are subsale prices at Setia V?
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How many units and towers?
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Is it a good building for own-stay?
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Can foreigners buy at Setia V Residences?
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Substitutes worth comparing
Open full comparison →Same area family, same property type, similar price band — what most buyers actually cross-shop.
From
RM 2.7M
Setia V Residences