Pulau Tikus · Subsale Market
Moulmein Rise Subsale — Pulau Tikus, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
Moulmein Rise is a completed freehold condominium in Pulau Tikus, Penang, completed in 2016 by Belleview Group. It has 84 units. Subsale asking prices currently run about RM1178–1402 per sq ft, with the typical unit asking around RM 2.40M (from roughly RM 2.10M).
Price at a glance
Prices as at November 2026 — Subsale asking prices basis. Last checked 2026-10-12.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 1,787–2,228 | RM2.1M | RM1,178 |
Zac’s Take
Zac Ong
Moulmein Rise is Belleview Group's completed boutique high-rise in Pulau Tikus — 84 units, low-density, sitting in the most established premium residential pocket on Penang Island. Verdict: worth visiting on the subsale market if you value Pulau Tikus address density, mature amenity, and low-strata-population living. Not a launch-cycle buy. This is the closest you get on the island to 'walk everywhere' premium living. Developer track record: Belleview Group has built consistently in the Pulau Tikus and Tanjung Bungah areas — solid mid-tier delivery record, build quality on Moulmein Rise has held up post-completion. Unit configuration sweet spot: the 1,400-1,600 sqft 3-bedroom is the unit to shortlist — large enough to function as a long-term own-stay, in a low-density 84-unit building where lift waiting times stay civilised even at peak. Target buyer: Penang upgrader trading out of larger landed who wants Pulau Tikus walkability with high-rise convenience; mature own-stayer downsizing; HK/SG semi-retiree who wants premium central address. Not for: yield-only investor (Pulau Tikus PSF doesn't deliver headline 6%+ gross); families with young kids who need landed garden space. Genuine concern: commercial-title strata means slightly tighter loan margin and a different stamp duty calculation versus residential title. Mitigation: confirm financing structure with bank upfront before signing booking form; the deal can still work, you just need to size the equity correctly.
Reviews and comparisons
- Moulmein Rise Penang Review 2026 — Pulau Tikus Freehold Luxury, Full Honest Read
- Scots Pavilion Review 2026 — A Small, Elderly-Friendly Condo on Scotland Road
- Cantonment Residence 2030 — Why Landed Downsizers Are Choosing This 4,540 SqFt Layout Over Every Peer
- Arcadia Pulau Tikus Review 2026 — 36 Years, 30 Neighbours, One Layout
- Cascadia Pulau Tikus Review 2026 — The Low-Rise Anomaly in a Tower Neighbourhood
- Chinese Indonesian Buyer's Penang Property Guide 2026 — Coming Home to the Diaspora
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a Moulmein Rise 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
Pulau Tikus's noise levels, traffic, neighbour mix, and JMC quality are known quantities at Moulmein Rise.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
How Moulmein Rise is priced within Pulau Tikus
At roughly RM1178 psf, Moulmein Rise sits mid-band for Pulau Tikus (RM850–1440 psf). This is the range where unit-specific factors — floor, view, renovation, facing — matter more than the address itself when you negotiate.
vs NAPIC median
+230%
Area median RM357 psf (all residential)
Building age
10 years
Completed 2016
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.
What to inspect before you commit at Moulmein Rise
- 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.
Moulmein Rise price 2026
What Moulmein Rise trades at on the sub-sale market, last checked 2026-10-12.
| Asking from | RM2.1M – RM3M |
| PSF | RM1178 – 1402 |
| Built-up | 1,787 – 2,228 sqft |
| Completed | 2016 |
| Units | 84 |
Verified sub-sale asking prices. Asking is not transacted — expect movement between the two.
The building is 10 years old. Old enough that the sinking fund and the state of common property matter more than the finishes. Ask for the MC accounts and the last AGM minutes — arrears across the building are the number that predicts your future maintenance bill.
A foreign buyer can purchase here — the RM1M minimum is cleared. Add the state levy, a flat 8% stamp duty and 3–4 months for state consent.
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.
Moulmein Rise for sale & for rent
Asking rents at Moulmein Rise ran from about RM7,500–10,000 a month in September–October 2026, for three- and four-bedroom homes. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
Moulmein Rise key facts
- Developer
- Belleview Group
- Area
- Pulau Tikus, Penang
- Type
- mixed
- Tenure
- freehold · residential
- Completed
- 2016
- Total units
- 84
- Asking PSF
- RM1178–1402
- Price from
- RM 2.10M
Pulau Tikus — area snapshot
Full area guide →Pulau Tikus is a mature, low-rise residential neighbourhood favoured for its quiet streets and proximity to international schools. Low new supply makes completed units here relatively scarce.
Price range
RM 699K – RM 3.9M
asking prices in area
Active projects
0
selling or under construction
Subsale condos
5
completed projects
Total tracked
7
properties in this area
Other projects in Pulau Tikus
All 6 others we track here, cheapest first — all trading sub-sale.
- CascadiaRM699K
- ArcadiaRM850K
- Codrington ResidenceRM1.4M
- Cantonment ResidenceRM2.6M
- The AntonRM3.9M
- The Cantonment—
Moulmein Rise subsale — common questions
What is the price of Moulmein Rise?
Moulmein Rise runs RM2,100,000 to RM3,000,000. These are verified sub-sale asking prices, not transacted figures — expect movement between the two. That works out to about RM1,178–1,402 per square foot. Checked 2026-10-12.
Is Moulmein Rise freehold or leasehold?
Moulmein Rise is freehold, on a residential title. Those are two separate facts and only the first usually appears in marketing.
Can a foreigner buy at Moulmein Rise?
Yes. Penang Island sets a RM1,000,000 minimum for foreign buyers of strata property. Add the state levy, a flat 8% stamp duty, and 3–4 months for state consent.
How much is the rent at Moulmein Rise?
Asking rents ran from RM7,500 to RM10,000 a month in September–October 2026, for three- and four-bedroom homes. 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 Moulmein Rise completed?
Moulmein Rise was completed in 2016 by Belleview Group, so homes here are bought from existing owners.
How big are the homes at Moulmein Rise?
Homes range from about 1,787 to 2,228 sq ft. There are 84 homes in total.
Is Moulmein Rise a good investment in 2026?
For capital preservation in the most established premium central address on Penang Island, yes. For pure yield, no — Pulau Tikus PSF doesn't support 6%+ gross. The case is location quality plus low-density living.
More on the neighbourhood:
Pulau Tikus 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.