Bayan Mutiara · Subsale Market
The Zen Subsale — Bayan Mutiara, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
The Zen is a completed freehold condominium in Bayan Mutiara, Penang, completed in 2024 by Asia Green Group. It has 2016 units. Subsale asking prices currently run about RM488–765 per sq ft (from roughly RM 420K).
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 | 850–1,050 | RM420,000 | RM488 |
Zac’s Take
Zac Ong
Two thousand and sixteen units. Hold that number, because it governs how this building behaves in both resale and rental. Asia Green completed the freehold Bayan Mutiara scheme in 2024 across 46 storeys, with 1,200 of those doors being 850 sqft affordable stock in Tower A and the open-market side at 1,050 sqft, and asking psf runs RM488 to RM765 from an entry around RM452,500. At that scale there will be dozens of near-identical units listed in your exact size at any moment, and tenants know it, so you compete on price rather than product. That is a structural drag on rent and on your eventual exit, not a temporary market condition. The location does real work in return: Queensbay Mall and USM sit about two kilometres away, and Pantai Hospital three, which keeps a deep tenant pool close by. Entry falls far below the island's RM1,000,000 foreign-buyer minimum, so plan on Malaysian and PR demand. Reasonable for an own-stay buyer who wants a 2024 building near Queensbay and accepts the crowd; avoid it if you are buying for scarcity or need a clean, quick sale later.
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a The Zen 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
Bayan Mutiara's noise levels, traffic, neighbour mix, and JMC quality are known quantities at The Zen.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
How The Zen is priced within Bayan Mutiara
At roughly RM488 psf, The Zen sits toward the value end of Bayan Mutiara's condo band (RM488–816 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
2 years
Completed 2024
This band is derived from the 5 tracked condo projects we hold PSF data for in Bayan Mutiara — 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.
The The Zen 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.
The Zen price 2026
What The Zen trades at on the sub-sale market, last checked 2026-10-09.
| Asking from | RM420,000 – RM510,000 |
| PSF | RM488 – 765 |
| Built-up | 850 – 1,050 sqft |
| Completed | 2024 |
| Units | 2,016 |
Verified sub-sale asking prices. Asking is not transacted — expect movement between the two.
Recent prices. 2026 listings about RM420,000–510,000 for 850 sq ft homes. Part of the development is state affordable housing with its own eligibility rules.
The building is 2 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.
The Zen for sale & for rent
Asking rents at The Zen ran from about RM1,650–2,200 a month in September–October 2026, for 850 sq ft homes, partly to fully furnished. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
The Zen key facts
- Developer
- Asia Green Group
- Area
- Bayan Mutiara, Penang
- Type
- mixed
- Tenure
- freehold
- Completed
- 2024
- Total units
- 2016
- Asking PSF
- RM488–765
- Price from
- RM 420K
Bayan Mutiara — area snapshot
Full area guide →Price range
RM 512K – RM 620K
asking prices in area
Active projects
2
selling or under construction
Subsale condos
1
completed projects
Total tracked
4
properties in this area
Other projects in Bayan Mutiara
Other projects in Bayan Mutiara
All 3 others we track here, cheapest first — 2 of them still selling.
- Bayan SuiteRM512K
- The PierRM600K
- QuayWest ResidenceRM620K
The Zen subsale — common questions
What is the price of The Zen?
2026 listings about RM420,000–510,000 for 850 sq ft homes. Part of the development is state affordable housing with its own eligibility rules.
Is The Zen freehold or leasehold?
The Zen 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 The Zen?
Yes, if you are on MM2H. MM2H participants can buy residential property in Penang from RM500,000 (up to two homes), and The Zen 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 The Zen?
Asking rents ran from RM1,650 to RM2,200 a month in September–October 2026, for 850 sq ft homes, partly to fully furnished. 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 The Zen completed?
The Zen was completed in 2024 by Asia Green Group, so homes here are bought from existing owners.
How big are the homes at The Zen?
Homes range from about 850 to 1,050 sq ft. There are 2,016 homes in total. With that many, expect plenty of similar units on the market when you come to sell.
Who developed The Zen?
The Zen was developed by Asia Green Group.
More on the neighbourhood:
Bayan Mutiara 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.