Island Glades · Subsale Market
Ideal Venice Residency Subsale — Island Glades, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
Ideal Venice Residency is a completed freehold condominium in Island Glades, Penang, completed in 2026 by Ideal Capital Venture Sdn. Bhd. (Ideal Property Group). It has 1632 units. It launched from around RM 428K in 2022 — that is the launch price, not a current resale figure. WhatsApp Zac for live asking prices.
Price at a glance
Prices as at November 2026 — Post-completion transacted prices basis. Last checked 2026-10-12.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 850 | RM428,000 | RM494 |
Zac’s Take
Zac Ong
Ideal Venice Residency is the PR1MA affordable-housing phase at Island Glades in Gelugor (Residensi Bukit Gelugor Phase 2): four 46-storey towers with 1,632 three-bedroom homes of about 850 sq ft, built by Ideal Property Group with a Venice-inspired theme. Keys started going to buyers in mid-January 2026.
Developer prices were about RM428,000 to RM478,000, depending on the number and type of parking bays.
Being a PR1MA scheme, it comes with eligibility conditions and resale restrictions, so this is a home for qualifying Malaysian buyers rather than an investment you can trade freely. It isn't open to foreign buyers.
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy an Ideal Venice Residency 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
Island Glades's noise levels, traffic, neighbour mix, and JMC quality are known quantities at Ideal Venice Residency.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
How Ideal Venice Residency is priced within Island Glades
At roughly RM494 psf, Ideal Venice Residency sits toward the value end of Island Glades's condo band (RM459–568 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
0 years
Completed 2026
This band is derived from the 3 tracked condo projects we hold PSF data for in Island Glades — indicative only, not a published transaction range. Compare against the Penang Price Index for areas with fuller benchmark data. Unit-level pricing varies with floor, view and renovation; ask Zac for the actual transacted comparables in this building.
What to inspect before you commit at Ideal Venice Residency
- 1.Internal pipes and electrical — For buildings past the ten-year mark, ask for a recent plumbing inspection. Full repiping is a five-figure cost you do not want to discover after VP.
- 2.Waterproofing and ceiling stains — Check bathroom floors, balcony thresholds and the ceiling directly under any upstairs wet area. Old stains that were painted over will reappear.
- 3.Lift modernisation status — Lifts have a service life. Ask whether modernisation has been done or is being planned — it is one of the largest special assessments a JMB can raise.
- 4.Original vs renovated layout — Confirm any structural alteration by a previous owner was approved. Unapproved hacking can complicate financing and your own future resale.
- 5.Actual unit orientation — Visit at the time of day you would normally be home. Afternoon west sun in Penang changes both comfort and your electricity bill.
Ideal Venice Residency price 2026
What Ideal Venice Residency trades at on the sub-sale market, last checked 2026-10-12.
| Asking from | RM428,000 – RM478,000 |
| PSF | RM494 – 568 |
| Built-up | 850 sqft |
| Completed | 2026 |
| Units | 1,632 |
Post-completion transacted range. Asking is not transacted — expect movement between the two.
Handed over this year. There is no resale track record yet, so any asking price here is a seller's hope rather than a market rate. The defects liability period is still running — get the developer's defect list and check what has been rectified before you take over the liability.
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.
Ideal Venice Residency for sale & for rent
Asking rents at Ideal Venice Residency ran from about RM1,500–2,500 a month in September–October 2026, for three-bedroom homes of about 850–950 sq ft. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
Ideal Venice Residency key facts
- Developer
- Ideal Capital Venture Sdn. Bhd. (Ideal Property Group)
- Area
- Island Glades, Penang
- Type
- condominium
- Tenure
- freehold
- Completed
- 2026
- Total units
- 1632
- Asking PSF
- RM494–568
- Price from
- RM 428K
Island Glades — area snapshot
Price range
RM 390K – RM 390K
asking prices in area
Active projects
0
selling or under construction
Subsale condos
1
completed projects
Total tracked
2
properties in this area
Other projects in Island Glades
Other projects in Island Glades
The only other project we track here.
- Ideal ResidencyRM390K
Ideal Venice Residency subsale — common questions
What is the price of Ideal Venice Residency?
Ideal Venice Residency runs RM428,000 to RM478,000. That is the post-completion transacted range. That works out to about RM494–568 per square foot. Checked 2026-10-12.
Is Ideal Venice Residency freehold or leasehold?
Ideal Venice Residency is freehold. 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 Ideal Venice Residency?
Not at current prices. Penang Island sets a RM1,000,000 minimum for foreign buyers of strata property and no unit here clears it, so Ideal Venice Residency is open to Malaysian and PR buyers only.
How much is the rent at Ideal Venice Residency?
Asking rents ran from RM1,500 to RM2,500 a month in September–October 2026, for three-bedroom homes of about 850–950 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 Ideal Venice Residency completed?
Ideal Venice Residency was completed in 2026 by Ideal Capital Venture Sdn. Bhd. (Ideal Property Group), so homes here are bought from existing owners.
How big are the homes at Ideal Venice Residency?
Homes range from about 850 sq ft. There are 1,632 homes in total. With that many, expect plenty of similar units on the market when you come to sell.
Substitutes worth comparing
Open full comparison →Same area family, same property type, similar price band — what most buyers actually cross-shop.