Jelutong · Subsale Market
3 Residence Subsale — Jelutong, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
3 Residence is a completed leasehold condominium in Jelutong, Penang, completed in 2021 by IJM Land. It has 478 units. Subsale asking prices currently run about RM650 per sq ft (from roughly RM 650K).
Price at a glance
Prices as at November 2026 — Subsale asking prices basis. Last checked 2026-10-09.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 845–1,031 | RM650,000 | RM650 |
Zac’s Take
Zac Ong
Leasehold is the first thing to settle here, and it is a large part of why 3 Residence prices where it does. IJM Land handed over this 478-unit Jelutong development in 2021, with layouts running a narrow 867 to 1,050 sqft, and entry sits around RM698,000, or roughly RM650 psf. That psf is not cheap for the floor area you get in return — you are paying for a young building and a long facilities schedule (infinity pool, squash court, sauna, an on-site minimart) rather than for space. Sitting under RM1,000,000, it also falls beneath the island's foreign-buyer minimum, so the buyer pool is Malaysian and PR only. Not for anyone who needs freehold on the balance sheet, or a family looking for 1,200 sqft and up — that unit simply does not exist in this building.
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a 3 Residence subsale (vs a new launch elsewhere)
Immediate occupancy
Move in within months, not years. Most resales complete in four to six months, a little longer if you need state consent as a foreign buyer.
Verified surroundings
Jelutong's noise levels, traffic, neighbour mix, and JMC quality are known quantities at 3 Residence.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
How 3 Residence is priced within Jelutong
At roughly RM650 psf, 3 Residence sits toward the value end of Jelutong's condo band (RM540–900 psf). That usually reflects building age, floor level, or distance from the area's prime frontage — worth checking which, because the first two are negotiable and the third is not.
Building age
5 years
Completed 2021
PSF bands are area-level indicative ranges from our own tracking, cross-checked against NAPIC/JPPH and Brickz transaction data — see the Penang Price Index. Unit-level pricing varies with floor, view and renovation; ask Zac for the actual transacted comparables in this building.
5 things to check before signing the 3 Residence SPA
- 1.Sinking fund health — Confirm the current balance and whether any special assessment is pending in the next 12 months. A thin sinking fund on an ageing building means you inherit the bill.
- 2.Last 3 maintenance billings — Verify payment is up to date and no dues are outstanding from the seller — arrears transfer with the unit, not the person.
- 3.JMC minutes (last 12 months) — Look for recurring complaints, structural concerns, or planned major works. This is the single most revealing document most buyers never ask for.
- 4.Common-area condition — Physically walk the pool deck, lifts, lobbies, gym and parking ramps. Photograph anything concerning — it is negotiation leverage.
- 5.Management track record — Ask who manages the building and how long they have held the contract. Frequent turnover of managing agents usually signals a difficult JMB.
3 Residence price 2026
What 3 Residence trades at on the sub-sale market, last checked 2026-10-09.
| Asking from | RM650,000 – RM950,000 |
| PSF | RM650 |
| Built-up | 845 – 1,031 sqft |
| Completed | 2021 |
| Units | 478 |
Verified sub-sale asking prices. Asking is not transacted — expect movement between the two.
Recent prices. 2026 listings about RM650,000–950,000, mostly three-bedrooms of about 845–860 sq ft.
The building is 5 years old. Still young. The defects liability period has long expired, so anything outstanding is now the management corporation’s problem and, through the sinking fund, partly yours. Check what was actually rectified.
Every unit here sits below the RM1M foreign-buyer minimum, so this building is open to Malaysian and PR buyers only.
Selling rather than buying? The RPGT rates and the 21B retention decide what you keep — and if you are near the five-to-six-year line, the date matters more than the price.
3 Residence for sale & for rent
Asking rents at 3 Residence ran from about RM1,900–2,800 a month in September–October 2026, for three-bedroom homes of about 850–864 sq ft. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
3 Residence key facts
- Developer
- IJM Land
- Area
- Jelutong, Penang
- Type
- mixed
- Tenure
- leasehold
- Completed
- 2021
- Total units
- 478
- Asking PSF
- RM650
- Price from
- RM 650K
Jelutong — area snapshot
Full area guide →Jelutong is a densely populated central-island area. New projects here target first-time buyers and investors rather than the luxury segment, with relatively accessible entry prices.
Price range
RM 400K – RM 969K
asking prices in area
Active projects
6
selling or under construction
Subsale condos
3
completed projects
Total tracked
10
properties in this area
Other projects in Jelutong
All 9 others we track here, cheapest first — 6 of them still selling.
- Artis 3RM400K
- Twin StarRM438K
- Grace HarmonyRM480K
- Urban SuitesRM498K
- Maritime SignatureRM500K
- Central ResidenceRM650K
- Setia Sky VilleRM710K
- Alton SkyvillasRM899K
- Setia SV2RM969K
3 Residence subsale — common questions
What is the price of 3 Residence?
2026 listings about RM650,000–950,000, mostly three-bedrooms of about 845–860 sq ft.
Is 3 Residence freehold or leasehold?
3 Residence is leasehold. I have not been able to confirm the land title class — check it with the developer, because a commercial title changes your utility tariffs and loan margin.
Can a foreigner buy at 3 Residence?
Yes, if you are on MM2H. MM2H participants can buy residential property in Penang from RM500,000 (up to two homes), and 3 Residence is priced above that. Other foreign buyers need RM1,000,000 for strata property on the island, which homes here do not reach. Add the state levy, a flat 8% stamp duty, and 3–4 months for state consent.
How much is the rent at 3 Residence?
Asking rents ran from RM1,900 to RM2,800 a month in September–October 2026, for three-bedroom homes of about 850–864 sq ft. These are asking rents on the main property portals, not signed leases. Short-term holiday letting isn't allowed in condos on Penang Island, so think in one- or two-year tenancies.
When was 3 Residence completed?
3 Residence was completed in 2021 by IJM Land, so homes here are bought from existing owners.
How big are the homes at 3 Residence?
Homes range from about 845 to 1,031 sq ft. There are 478 homes in total.
More on the neighbourhood:
Jelutong area guide — schools, transport, PSF, lifestyle scorecard →Substitutes worth comparing
Open full comparison →Same area family, same property type, similar price band — what most buyers actually cross-shop.