Queensbay · Subsale Market
Queens Residences Subsale — Queensbay, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
Queens Residences is a completed freehold condominium in Queensbay, Penang, completed in 2022 by Ideal Property Group. It has 950 units. Subsale asking prices currently run about RM1100–1679 per sq ft (from roughly RM 890K).
Price at a glance
Prices as at November 2026 — Subsale asking prices basis. Last checked 2026-10-04.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 950–1,400 | RM890,000 | RM1,100 |
Zac’s Take
Zac Ong
Queens Residences sits on reclaimed seafront land directly opposite Queensbay Mall, built in phases by Ideal Property Group. The first phase alone, Q1, is a 21-storey building of 500 homes of about 950 to 1,650 sq ft, with later phases Q2 and Q3 alongside it.
Across the phases, listings run from around RM890,000 to RM3M, with the smaller two-bedroom homes in Q3 starting near RM890,000, roughly RM940 per sq ft. Rents vary widely by phase and size.
It's the most prestigious address in the Queensbay area: sea views, the mall across the road and easy access to the bridge and the industrial zone. When comparing listings, check which phase a unit is in, because finishes, sizes and prices differ. Units at RM1M or more are open to foreign buyers.
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a Queens Residences 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
Queensbay's noise levels, traffic, neighbour mix, and JMC quality are known quantities at Queens Residences.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
The Queens Residences pre-purchase checklist
- 1.Remaining lease (if leasehold) — Ask for the exact expiry year. Banks tighten lending as the remaining term shortens, which affects both your loan and your future buyer's.
- 2.Outstanding charges and caveats — Your lawyer should run a full land search for caveats, charges or restrictions in interest before you release any deposit.
- 3.Genuine transacted comparables — Ask for recent transacted prices in the same block, not asking prices. Asking prices tell you what sellers hope for, not what the market pays.
- 4.Exit tax position — Model your RPGT before you buy, not when you sell. Holding period changes the maths substantially, especially for foreign owners.
- 5.Vacant possession terms — Agree in writing what stays — air-conditioners, built-ins, curtains, lights. Fixture disputes at handover are entirely avoidable.
Queens Residences price 2026
What Queens Residences trades at on the sub-sale market, last checked 2026-10-04.
| Asking from | RM890,000 – RM3M |
| PSF | RM1100 – 1679 |
| Built-up | 950 – 1,400 sqft |
| Completed | 2022 |
| Units | 950 |
Verified sub-sale asking prices. Asking is not transacted — expect movement between the two.
The building is 4 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.
A foreign buyer can purchase here — the RM1M minimum is cleared by the larger units, though not at the entry price. 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.
Queens Residences for sale & for rent
Asking rents at Queens Residences ran from about RM3,500–4,500 a month in September–October 2026, for homes of about 950–1,200 sq ft. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
Queens Residences key facts
- Developer
- Ideal Property Group
- Area
- Queensbay, Penang
- Type
- condominium
- Tenure
- freehold
- Completed
- 2022
- Total units
- 950
- Asking PSF
- RM1100–1679
- Price from
- RM 890K
Queensbay — area snapshot
Price range
RM 890K – RM 890K
asking prices in area
Active projects
1
selling or under construction
Subsale condos
0
completed projects
Total tracked
2
properties in this area
Other projects in Queensbay
Other projects in Queensbay
The only other project we track here.
- Queens Residences Q3RM890K
Queens Residences subsale — common questions
What is the price of Queens Residences?
Queens Residences runs RM890,000 to RM3,000,000. These are verified sub-sale asking prices, not transacted figures — expect movement between the two. That works out to about RM1,100–1,679 per square foot. Checked 2026-10-04.
Is Queens Residences freehold or leasehold?
Queens Residences 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 Queens Residences?
Yes, on the larger units. Penang Island sets a RM1,000,000 minimum for foreign buyers of strata property, which the entry price does not clear. MM2H participants have a lower minimum of RM500,000 (residential, up to two homes), which opens the cheaper units too. Add the state levy, a flat 8% stamp duty, and 3–4 months for state consent.
How much is the rent at Queens Residences?
Asking rents ran from RM3,500 to RM4,500 a month in September–October 2026, for homes of about 950–1,200 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 Queens Residences completed?
Queens Residences was completed in 2022 by Ideal Property Group, so homes here are bought from existing owners.
How big are the homes at Queens Residences?
Homes range from about 950 to 1,400 sq ft. There are 950 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.