Bayan Lepas · Subsale Market
Tropicana Bay Residences Subsale — Bayan Lepas, Penang
Current asking prices, Zac's honest take, and what to check before you buy. Ask for the current shortlist on WhatsApp.
Tropicana Bay Residences is a completed freehold condominium in Bayan Lepas, Penang, completed in 2017 by Tropicana Ivory Sdn. Bhd. (Ivory Properties & Tropicana Corporation JV). It has 1248 units. Subsale asking prices currently run about RM568–1100 per sq ft (from roughly RM 315K).
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 | 400–1,945 | RM315,000 | RM568 |
Zac’s Take
Zac Ong
Tropicana Bay Residences is the first phase of Penang World City in Bayan Mutiara, built by Tropicana Ivory, a joint venture between Ivory Properties and Tropicana Corporation. It's four 22-storey towers with 1,248 freehold homes on residential title, completed in 2017, on a 10.55-acre site close to Queensbay Mall.
The range is wide, from about 400 sq ft studios to 1,945 sq ft duplexes. In September 2026, three-bedroom homes of 872–1,320 sq ft were listed at about RM590,000–735,000, and a four-bedroom duplex at around RM1.3M.
It suits people working in the Bayan Lepas industrial zone or at the airport who want a big, well-equipped building near the mall. With 1,248 homes, expect a busy development and plenty of competing listings when you sell. Most units are below Penang Island's RM1M minimum for foreign buyers; only the largest duplexes may clear it.
Reviews and comparisons
Available Listings
No listings currently on file. Zac may have off-market units available.
Ask Zac about availabilityWhy buy a Tropicana Bay 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
Bayan Lepas's noise levels, traffic, neighbour mix, and JMC quality are known quantities at Tropicana Bay Residences.
Established maintenance
The building has a track record. Ask for the management accounts, sinking fund balance and recent meeting minutes before you commit.
How Tropicana Bay Residences is priced within Bayan Lepas
At roughly RM568 psf, Tropicana Bay Residences sits toward the value end of Bayan Lepas's condo band (RM440–1100 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
9 years
Completed 2017
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.
The Tropicana Bay 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.
Tropicana Bay Residences price 2026
What Tropicana Bay Residences trades at on the sub-sale market, last checked 2026-10-04.
| Asking from | RM315,000 – RM1.3M |
| PSF | RM568 – 1100 |
| Built-up | 400 – 1,945 sqft |
| Completed | 2017 |
| Units | 1,248 |
Verified sub-sale asking prices. Asking is not transacted — expect movement between the two.
The building is 9 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.
Tropicana Bay Residences for sale & for rent
Asking rents at Tropicana Bay Residences ran from about RM1,200–2,600 a month in September–October 2026, from studios to three-bedroom homes. Rents depend on the floor, view and furnishing, so message Zac for what is actually available to buy or rent today.
Tropicana Bay Residences key facts
- Developer
- Tropicana Ivory Sdn. Bhd. (Ivory Properties & Tropicana Corporation JV)
- Area
- Bayan Lepas, Penang
- Type
- condominium
- Tenure
- freehold · residential
- Completed
- 2017
- Total units
- 1248
- Asking PSF
- RM568–1100
- Price from
- RM 315K
Bayan Lepas — area snapshot
Full area guide →Bayan Lepas is the island's industrial and tech hub, home to the Free Trade Zone and Penang International Airport. Condo demand comes primarily from professionals working in the area.
Price range
RM 342K – RM 930K
asking prices in area
Active projects
5
selling or under construction
Subsale condos
9
completed projects
Total tracked
15
properties in this area
Other projects in Bayan Lepas
All 14 others we track here, cheapest first — 5 of them still selling.
- Avion ResidenceRM342K
- One ForestaRM395K
- London PavilionRM418K
- Forest VilleRM420K
- Havana Beach ResidencesRM450K
- Maldives ResidencesRM498K
- Solaria ResidencesRM500K
- Tree SparinaRM540K
- SummerSkye ResidencesRM597K
- Lucerne ResidencesRM599K
- The AmareneRM620K
- Goodwood ResidenceRM678K
- SENZE @ PICCRM705K
- Tierra ResidencesRM930K
Tropicana Bay Residences subsale — common questions
What is the price of Tropicana Bay Residences?
Tropicana Bay Residences runs RM315,000 to RM1,300,000. These are verified sub-sale asking prices, not transacted figures — expect movement between the two. That works out to about RM568–1,100 per square foot. Checked 2026-10-04.
Is Tropicana Bay Residences freehold or leasehold?
Tropicana Bay 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 Tropicana Bay 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. Add the state levy, a flat 8% stamp duty, and 3–4 months for state consent.
How much is the rent at Tropicana Bay Residences?
Asking rents ran from RM1,200 to RM2,600 a month in September–October 2026, from studios to three-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 Tropicana Bay Residences completed?
Tropicana Bay Residences was completed in 2017 by Tropicana Ivory Sdn. Bhd. (Ivory Properties & Tropicana Corporation JV), so homes here are bought from existing owners.
How big are the homes at Tropicana Bay Residences?
Homes range from about 400 to 1,945 sq ft. There are 1,248 homes in total. With that many, expect plenty of similar units on the market when you come to sell.
What is Tropicana Bay Residences?
A freehold condominium by Hunza Properties Berhad in Bayan Lepas (Penang World City), completed in 2017 with 1,248 units.
More on the neighbourhood:
Bayan Lepas 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.