Prai Β· Subsale Market
GEM Residences Subsale β Prai, Penang
Current asking prices, floor plans, and what to inspect before signing the SPA. Live subsale shortlist sent direct to your WhatsApp.
GEM Residences is a completed freehold condominium in Prai, Penang, completed in 2024 by Concrete Idea Sdn. Bhd.. It has 978 units. It launched from around RM 352K in 2017 β that is the launch price, not a current resale figure. WhatsApp Zac for live asking prices.
Price at a glance
Prices as at September 2026 β Developer launch prices basis. Last checked 2026-07-21. A negotiation floor, not what it trades at today.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 441β1,445 | RM351,800 | RM797 |
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a GEM Residences subsale (vs a new launch elsewhere)
Immediate occupancy
Move in within 3 months of SPA. No 36-month construction wait.
Verified surroundings
Prai's noise levels, traffic, neighbour mix, and JMC quality are known quantities at GEM Residences.
Established maintenance
Sinking fund history is visible. You can read the last 12 months of JMC minutes before committing.
5 things to check before signing the GEM Residences SPA
- 1.Sinking fund health β 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 β Verify payment is up to date and no dues are outstanding from the seller β arrears transfer with the unit, not the person.
- 3.JMC minutes (last 12 months) β 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 β Physically walk the pool deck, lifts, lobbies, gym and parking ramps. Photograph anything concerning β it is negotiation leverage.
- 5.Management track record β Ask who manages the building and how long they have held the contract. Frequent turnover of managing agents usually signals a difficult JMB.
GEM Residences price 2026
What GEM Residences trades at on the sub-sale market, last checked 2026-07-21.
| Asking from | RM351,800+ |
| PSF | RM797 |
| Built-up | 441 β 1,445 sqft |
| Completed | 2024 |
| Units | 978 |
Developer launch price. This is what the developer charged at launch, not what the building trades at today. Treat it as a floor for negotiation, not a guide to current value.
The building is 2 years old. Still young. The defects liability period has long expired, so anything outstanding is now the management corporationβs problem and, through the sinking fund, partly yours. Check what was actually rectified.
Every unit here sits below the RM600,000 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 β and if you are near the five-to-six-year line, the date matters more than the price.
GEM Residences for sale & for rent
Looking to buy or rent a unit in GEM Residences? Asking prices and rents move with the market and with the specific unit β floor, facing, condition β so rather than quote a stale number, message Zac for the current listings and a straight read on what is realistic today.
GEM Residences key facts
- Developer
- Concrete Idea Sdn. Bhd.
- Area
- Prai, Penang
- Type
- condominium
- Tenure
- freehold Β· residential
- Completed
- 2024
- Total units
- 978
- Asking PSF
- RM797
- Price from
- RM 352K
Need the full project profile? Specifications, floor plans, nearby amenities, and Zac's take on GEM Residences:
View full GEM Residences profile βPrai β area snapshot
Prai is an industrial and port-linked area on the mainland. Residential development here serves the industrial workforce segment.
Price range
RM 560K β RM 846K
asking prices in area
Active projects
1
selling or under construction
Subsale condos
1
completed projects
Total tracked
3
properties in this area
Other projects in Prai
Other projects in Prai
All 2 others we track here, cheapest first β 1 of them still selling.
- Elevate @ GravitasRM560K
- Altus ResidencyRM846K
GEM Residences subsale β common questions
What is the price of GEM Residences?
GEM Residences runs RM351,800 and up. That is the developer launch price, not what the building trades at today. Treat it as a floor for negotiation. That works out to about RM797 per square foot. Checked 2026-07-21.
Is GEM Residences freehold or leasehold?
GEM Residences is freehold, on a residential title. Those are two separate facts and only the first usually appears in marketing.
Can a foreigner buy at GEM Residences?
Not at current prices. Seberang Perai sets a RM600,000 minimum for foreign buyers and no unit here clears it, so GEM Residences is open to Malaysian and PR buyers only.
When was GEM Residences completed?
GEM Residences completed in 2024, developed by Concrete Idea Sdn. Bhd.. Units here trade sub-sale.
How big are the units at GEM Residences?
Built-ups run 441 to 1,445 sq ft. There are 978 units in total. At that density, expect to compete with a lot of near-identical units when you sell.
Substitutes worth comparing
Open full comparison βSame area family, same property type, similar price band β what most buyers actually cross-shop.