Queens Waterfront, Bayan Lepas · Completed 2022 · Subsale
Queens Residences Q2
A single 24-storey freehold seafront tower by Ideal Property opposite Queensbay Mall, with 450 homes of 950–1,650 sq ft and views of both Penang bridges.
Replies on WhatsApp from Jason himself · No obligation
Answer block
Queens Residences Q2 at a glance
Every figure here comes from the developer, the government housing register or the property records named at the foot of the page. Where sources disagree, the range is shown. Where nobody has published a number, it is not on this page.
Development
Queens Residences Q2
Phase 2 of Queens Waterfront
Address
Queens Waterfront
11900 Bayan Lepas, opposite Queensbay Mall
Tenure
Freehold
Completed
2022
Reported as ahead of schedule
Tower
1 × 24 storeys
Shops on the ground and first floors
Units
450
Layouts
950–1,650 sq ft
2 bed to 4 bed, plus a dual-key unit
Foreign buyers
Many units eligible
Most asking prices are above RM1 million
Why this address
Four things buyers weigh at Queens Residences Q2
A newer seafront tower near Penang’s factory belt. Here is the case, and the catch.
Opposite Queensbay Mall
The mall is across the road, Pantai Hospital is about 3.5 km away and the airport about 8 km.
Close to the jobs
Bayan Lepas Free Industrial Zone is nearby, which supports rental demand from engineers and managers.
Sea and bridge views
The tower looks over the Penang Bridge and the Second Penang Bridge, with a 700 m promenade in the masterplan.
What to weigh: price per sq ft
The recorded median is about RM1,136 psf, high for Bayan Lepas, and current asking prices sit above it. Check recorded sales before you offer.
The development
Queens Residences Q2, decoded
One 24-storey tower with shops at the base, the second phase of the Queens Waterfront masterplan.
Facilities
As listed in EdgeProp’s completion report and on PropertyGuru; floor levels are not published.
Water
Pools and spa
- Infinity pool with sea view
- Kids’ lagoon
- Jacuzzi and spa
- Aqua therapy gym
Active
Fitness
- Indoor gym
- Yoga room
- Playground
Residents
Shared spaces
- Sky lounges
- Rooftop and edible plant gardens
- Hanging cocoon seats
- BBQ area
- Nursery and games room
- 24-hour security
Where the project is now
Layouts
All 6 Queens Residences Q2 layouts
6 layout types, from 950 to 1,650 sq ft. Sizes from the developer’s published plans, checked October 2026. Other layouts may exist; ask for the full list. Tap any layout and the drawing comes to your WhatsApp.
Type A1 — 950 sq ft
2 bed 2 bath · 950 sq ft · smallest layout
Get this floor planAsk price & availability →Type C — 1,200 sq ft
2 bed 2 bath · 1,200 sq ft · 2 bed + study
Get this floor planAsk price & availability →Type E1 — 1,650 sq ft
4 bed 3 bath · 1,650 sq ft · largest layout
Get this floor planAsk price & availability →Price and rent by layout
What each layout is asking at Queens Residences Q2
Asking prices and rents seen on PropertyGuru in October 2026, matched to each layout by size. Asking prices are not sale prices; compare them with the recorded transactions above.
| Layout | Size | Asking price | Asking rent | Listings |
|---|---|---|---|---|
| Type A1 | 950 sq ft | RM980,000–1.15m | RM3,000–3,900/mo | 10 |
| Type B / Type B1 | 1,000 sq ft | RM1.28m–1.4m | RM3,000–4,800/mo | 14 |
| Type C | 1,200 sq ft | RM1.58m–1.75m | RM8,000/mo | 6 |
| Type D | 1,400 sq ft | RM1.98m–2.35m | RM6,500/mo | 4 |
| Type E1 | 1,650 sq ft | RM2.65m | RM8,000/mo | 2 |
| – | about 300–400 sq ft | – | RM1,900–2,000/mo | 2 |
| – | about 600–700 sq ft | – | RM2,600/mo | 1 |
| – | about 700–800 sq ft | – | RM3,500/mo | 1 |
Location & connectivity
Where Queens Residences Q2 sits
Queens Waterfront, 11900 Bayan Lepas, Penang, opposite Queensbay Mall.
The recorded numbers
The price numbers
Recorded sales and asking prices are different things. Transacted figures come from deals recorded with the government valuation department; asking figures are what owners or the developer are listing at.
| Measure | Figure | Source and date |
|---|---|---|
| Transacted price median, last 48 months | RM1,136 psf · typical RM984–1,265 psf | EdgeProp, viewed 2 Oct 2026 |
| Asking price for sale | RM900k–3m · about RM947–1,818 psf | PropertyGuru, Oct 2026 |
| Asking rent 2 bedrooms | About RM3,000–4,800 a month | PropertyGuru listings, Oct 2026 |
| Asking rent 3 bedrooms | About RM6,500–8,000 a month | PropertyGuru listings, Oct 2026 |
EdgeProp estimates the gross yield at about 5.1%. A 1,000 sq ft unit listed at RM1.45 million in September 2026 was well above the recorded median, so check transactions.
Track record
About Ideal Property Group
Ideal Property Group is a Penang-based developer with its main office on Jalan Mahsuri, Bayan Lepas.
Queens Residences Q2 is the second phase of its Queens Waterfront masterplan and was completed in 2022, ahead of schedule according to EdgeProp.
Around the building
What is near Queens Residences Q2
The closest places on the map, measured in a straight line from the building. Driving distances are longer.
🚉 Getting around
- Sungai Nibong Bus Terminal~1.6 km
- Bayan Baru Bus Terminal~3.3 km
🛍️ Malls
- Queensbay Mall~300 m
- Bukit Jambul Complex~2.1 km
- One Precinct~2.9 km
🎓 Schools
- Sekolah Kebangsaan Sungai Nibong~1.3 km
- Sekolah Jenis Kebangsaan (Cina) Kwang Hwa, Sungai Nibong~1.5 km
- Sekolah Jenis Kebangsaan (Cina) Shih Chung Cawangan~1.6 km
- Sekolah Menengah Kebangsaan Sungai Nibong~1.6 km
🏛️ Colleges and universities
- Penang Skills Development Centre (PSDC)~2.6 km
- PPIK~2.8 km
- Anjung Budi~2.8 km
🏥 Hospitals
- Spinecare Chiropractic Penang~300 m
- Pantai Integrated Rehab (Satellite)~3.1 km
- Pantai Hospital Penang~3.3 km
Map data © OpenStreetMap contributors. Names as recorded on the map; check opening and enrolment details yourself.
Is it for you?
Which kind of buyer are you?
The same building suits different people for different reasons. Pick the line that sounds like you.
🏠 Living here yourself
Layouts here run from about 950 to 1,650 sq ft. Ask me which stacks get the better view and the least afternoon sun; that changes the price more than the floor.
💰 Buying to rent out
Compare the recorded rents in "The price numbers" above with the instalment on your loan. Smaller layouts usually rent faster; larger ones hold tenants longer.
👨👩👧 Family with children
Check the school and clinic distances in the location section, the number of car parks per unit and how busy the lifts are at 7.30 am.
✈️ Buying from overseas
Foreigners can only buy above the state minimum price and pay 8% stamp duty from 2026. Ask me which units here qualify before you shortlist.
Straight talk
What I will not hide from you
Every project has trade-offs. These are the ones I would want to know before paying a deposit.
- ⚠️ A newer project, so many owners are renting out at the same time. Expect competition for tenants for the first few years.
- ⚠️ Asking prices are not sale prices. Compare any offer with the recorded transacted price per sq ft above before you commit.
The real cost
What buying here costs in 2026
Worked example for a unit at RM1,450,000, around the typical asking price here. Your figures will differ with the price and the bank.
| Malaysian buyer (90% loan) | Foreign buyer (70% loan) | |
|---|---|---|
| Purchase price | RM1,450,000 | RM1,450,000 |
| Down payment | RM145,000 | RM435,000 |
| Loan amount | RM1,305,000 | RM1,015,000 |
| Stamp duty on transfer (MOT) | RM42,000 | RM116,000 |
| Stamp duty on loan (0.5%) | RM6,525 | RM5,075 |
| Lawyer, sale agreement (incl. 8% SST) | RM17,010 | RM17,010 |
| Lawyer, loan agreement (incl. 8% SST) | RM15,444 | RM12,312 |
| Cash needed before keys | RM225,979 | RM585,397 |
| State consent fee for foreigners | – | Set by each state; ask me for the figure |
Estimates only. Stamp duty: 1–4% tiers for Malaysians and PRs, 8% flat for foreigners from 1 Jan 2026. Legal fees follow the Solicitors’ Remuneration Order 2023. First-time Malaysian buyers of homes up to RM500,000 may get a stamp duty exemption until 2027. Valuation, disbursements and moving costs are not included.
Get these numbers for a real unitCalculate my exact costs →Straight answers
Frequently asked questions
When was Queens Residences Q2 completed?
In 2022. EdgeProp reported in June 2022 that it was completed ahead of schedule.
What layouts are there?
From a 950 sq ft 2-bedroom unit to a 1,650 sq ft 4-bedroom unit, including a 1,000 sq ft dual-key unit.
How much does it rent for?
Listed rents are about RM3,000 to RM4,800 a month for 2 bedrooms and RM6,500 to RM8,000 for 3 bedrooms.
Can a foreigner buy here?
On Penang Island a foreigner can generally buy a strata home priced at RM1 million or more (RM3 million for landed homes), with state consent from the Penang Land and Mines Office. The state charges an approval levy of 3% of the price, reduced to 1.5% for island strata homes priced between RM1 million and RM1.5 million, and a foreign owner may resell only after three years from the SPA date. Stamp duty on the transfer of a home is a flat 8% for foreign buyers from 1 January 2026.
Berapa harga Queens Residences Q2?
Harga transaksi median ialah RM1,136 sekaki persegi (EdgeProp, 48 bulan terakhir). Harga tawaran sekitar RM900,000 hingga RM3 juta.
Queens Residences Q2 在哪里？价格多少？
位于峇六拜Queensbay Mall对面。根据EdgeProp，过去48个月成交中位价约每平方尺RM1,136；挂牌价约RM90万至RM300万。永久地契，2022年完工。
Which schools are near Queens Residences Q2?
On map data, the nearest schools are Sekolah Kebangsaan Sungai Nibong (~1.3 km), Sekolah Jenis Kebangsaan (Cina) Kwang Hwa, Sungai Nibong (~1.5 km), Sekolah Jenis Kebangsaan (Cina) Shih Chung Cawangan (~1.6 km). Distances are straight-line from the building.
Is there a train or bus station near Queens Residences Q2?
The nearest stations on map data are Sungai Nibong Bus Terminal (~1.6 km), Bayan Baru Bus Terminal (~3.3 km).
What is the nearest hospital and mall to Queens Residences Q2?
The nearest hospital on map data is Spinecare Chiropractic Penang (~300 m), and the nearest mall is Queensbay Mall (~300 m).
How much cash do I need to buy at Queens Residences Q2?
For a unit at RM1,450,000,, a Malaysian buyer with a 90% loan needs about RM12,312 before getting the keys, covering the down payment, stamp duty and legal fees. A foreign buyer with a 70% loan needs about RM225,979, before the state consent fee. The full table is in "What buying here costs in 2026".
Compare
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Same area first, then a similar budget. Chosen so you can compare the numbers yourself, not for which one pays the agent more.
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Tropicana Bay Residences
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View project →Get the current price list and units available at Queens Residences Q2
Prices move and the better units go first. Tell me your budget and whether you are buying to live in or to rent out, and I will send back the units that fit, not a generic brochure.
Buying, selling or renting: one conversation, no obligation.
Jason Lim
10 years in Malaysian property · Johor Bahru & Kuala Lumpur · REN 84424 · IQI Realty Sdn. Bhd. E (1) 1584/6
I work with local families, investors and buyers from Singapore and overseas. If a project is not right for what you need, I will say so; that is usually worth more than the brochure.