Located in downtown Kuala Lumpur, KLCC is a highly-sought after area for work and stay – especially among professionals and expats. This comes as no surprise as the area is densely surrounded by commercial buildings, which are home to MNCs like Citibank and GUESS. While for leisure, there is the sprawling 20 hectares KLCC public park, the up-scale Suria KLCC shopping mall. The Petronas Twin Towers, once the tallest building in the world, is also located in the vicinity. There are also a number of international schools in the area and a hospital, Prince Court Medical Centre, which comes complete with a helipad. All these speak volumes of the profile of the people living in the area.
The KLCC area is also well-connected by major highways like AKLEH, which takes you to Ampang, and SMART highway, which takes you to Sungai Besi, etc. One can even opt for public transport via the KLCC LRT station located in the mall. However, traffic is relatively bad during peaks-hours, especially along Jalan Tun Razak.
KLCC Property Overview
Properties in the KLCC area, whether commercial or residential, is relatively expensive to the rest of Kuala Lumpur and even Malaysia. Commercial buildings in this area are Grade A and rental rates are from RM6.50 per sq ft.
(Binjai On The Park apartment at KLCC)
The same goes for residential properties in KLCC, which are mostly apartments. The average going rate for rental is RM2.60 per sq ft, while condominiums are being sold at an average price of RM1,100 per sq ft. Infact, the most expensive property price ever transacted was the two penthouses at Four Seasons Place at a whopping RM3,096 per sq ft, smashing the previous record of RM2,900 per sq ft for Binjai On The Park. The latter still holds the record for the most expensive property though, at a whopping RM38 million for the 14,300 sq ft triplex that was sold in 2010. Even the old Desa Kudalari condominiums, build by Tan & Tan Development in 1985, currently have an asking price above RM900 per sq ft (Source: KLCC Condo).
You are at an exciting time in your life right now with buying your first new house. There are many things that might feel overwhelming to a new home buyer; things like property taxes and homeowners insurance seem foreign to an apartment or condo renter. But there are plenty of Malaysian property resources and tools for to help you keep your sanity. First, check out house real estate prices in your local area to get a feel for the general selling prices for both new and existing prices. Use sites such as StarProperty Malaysia Real Estate Listing to get the overall trend in your area of interest. It is also a great idea to visit your area’s property appraisal website to get a rough estimation of the taxes there as well. Secondly, you want to tally up your assets and debts on the financial side to see what you can realistically afford to buy. You don’t want to be kicked out of your house before you got to hang those drapes up on the walls! Spend some time paying down any outstanding credit and remember to factor in any emergency items that may come up as well in your life. Use this online home loan calculator to help you tally your budget. Next, you want to visit new communities in your area and check the schools and general retail environment there. If the schools are top rated; then it can help with the resale value of the home. You want to be in an area that is growing with young professionals and young kids because house prices will tend to rise and stabilize there as opposed to a deflated area of town with not much new house selection at all. Furthermore, when you find the house that you like make sure to work with a local broker agent to get the best deal on things like closing costs and additional incentives from the builders. Finally, after closing on your new house make sure to plan for installing a top grade alarm system. Also make plans for new furniture and house upgrade projects you would like to do with a home improvement loam before those hefty mortgage payments kick...read more
Marc Residence is a freehold serviced residence is situated along Jalan P Ramlee, Kuala Lumpur, a preferred address among the elite Malaysian and experienced investors. There are 2 towers (A & B) is only a stone’s throw away from the Mandarin Oriental Hotel and Petronas Twin Towers (KLCC). Consist 35 stories and 635 units, these development is jointly developed by Capitaland, the largest developer in South East Asia. It comes with amazing facilities such as infinity swimming pool, lap pool, wading pool, gymnasium, tennis court, reading room, playground, barbeque area, function hall, Cafe (Delicious), etc. Size ranges from a mere 497sf for a studio up to 3,000 sf. Marc Residence is very popular among the working expats especially those in the KLCC area. Rental has pick up recently and some unit has touched RM8psf on rental. The selling price is holding very well with most unit transacting around RM1100psf to RM1200psf. Great potential for further price appreciation. Marc Residence Quick Facts Property Name: Marc Service Residence (also known as Marc Residence) Location Address: Jalan Pinang, 50088 Kuala Lumpur GPS: 3.155818 N, 101.710325 E Property Developer: Beverly Tower Development (Contact) Type: Serviced Residence Tenure: Freehold No. of Blocks: 2 No. of Storey: 35 Built-up: 409 – 3,300 sf Maintenance Fee: RM0.40 psf Launch Price: RM700 psf Subsale Price: RM930,000 – RM3,680,000 Rental: RM2,700 – RM10,000 View Photo Gallery Contact Property Agent Specialized in Marc Residence KLCC. Info Source: Marc Residence @ KLCC Living ...read more
Real estate investment does not need to be frightening. Were you the person who won every game of monopoly you played? Are you ready to play monopoly in real world standards? Buying and selling real estate is a great way to move up the ladder of success. These are top tips for real estate investment beginners: LLC The wise real estate investors do not buy property in their own name. When buying property in Malaysia, protecting your personal assets is the most important first tip. Have your attorney draw up the necessary paperwork and create a Limited Liability Corporation. If anything happens, your own assets will be protected. Research No wise investor just throws their money at something without researching. Before investing in real estate, you need to study and learn everything possible about the types of Malaysia property you plan on investing in, the market, and all other aspects. You don’t need to be an expert, but you should have an ample amount of knowledge about what you are diving into. Network Get to know other investors; hang out where they hang out. By listening to others who are investing in similar properties, you can learn many great pieces of advice to help you. Start Small When you are first starting with real estate investing, a large apartment complex probably will not be the wisest purchase. By starting small, you can “learn the ropes,” and if you make a slight mistake, it will not cost you dearly. Learn The Terminology Real estate investors use terminology that normal people do not understand. When someone mentions debt service or cap rates, real estate investors know what they are talking about. Knowing the real estate lingo will give you a advantage. Read One of the greatest ways to learn is to read. There are many books on the market that teach aspects of real estate investing. It is also a great idea to read books on managing small business, and even positive mental attitude books. Reading is one of the best teaching mechanisms there is in existence. Keep Your First Job One of the biggest mistakes that new real estate investors make is quitting their first job. It is wise to keep working until you build your investing business to the point that you know all your bills will be paid. Yes, it is good to jump in with both feet, but using wisdom in when to leave your original job is important. When you see income from investing that matches or exceeds your income from your job, that may be the time to resign. Following these tips will help you in your start as a real estate investor. You can win at real time...read more
[Credit: i-property.com.my] Still have questions? Read these in-depth how to buy property in Malaysia...read more
If you want to invest your money and enjoy solid returns, you need to consider real estate in Kuala Lumpur. While it’s easy to buy a new place in your own country, you can find better deals when searching the globe. While true, it’s still not enough to convince some buyers. With this in mind, here are five reasons why you need to consider investing in Kuala Lumpur properties. Price: As mentioned, when you want to invest in real estate, you will want to see your money go further. It’s not easy if you live in the United States or another expensive country where a small house can cost close to half a million dollars in major cities like San Diego, New York or Miami. Instead, if you want to buy a home and not send in massive mortgage payments, you can buy a place in Kuala Lumpur. When doing so, you aren’t relegated to buying tiny condos or houses in need of major repairs. No, with a small investment, you can purchase an excellent house in a safe area. Friendly government: It’s annoying when you buy a house and are stuck dealing with an overzealous local government. All too often, a buyer will end up in a seemingly great house only to discover that the local zoning regulations are draconian. Other times, when buying a house in a major city, an owner can’t raise rents or kick out unruly tenants. For this reason, if you want to earn an income as a landlord, consider Kuala Lumpur properties. Otherwise, if you stick with properties in the United States, Canada or the UK, you will deal with a mountain of local and national regulations. Economy is booming: When buying a house, people often look for low prices and head to areas where the economy is not performing well. While you can find an excellent price on a home with this method, you won’t experience the benefits of investing in real estate. No, you need to buy property in areas where people work and enjoy decent incomes. If not, you will watch as you can’t fill your house with tenants. Other times, if you want to hold for the long haul, you won’t receive a decent offer on your place if you buy in an area where the economy is performing poorly. Exciting place to visit: Often, when looking to buy an investment property, a buyer will want to find a place he or she could settle down and retire in. Other times, a young family will buy a place to use as a vacation home. Fortunately, in Kuala Lumpur, you can enjoy an excellent investment opportunity and a fun place to live. Think about it, when coming to Kuala Lumpur, you can head to the beach and enjoy amazing year-round weather. So, if you want to enjoy solid returns and a fun place to live, check out Kuala Lumpur. Infrastructure: Finally, when you want to invest money and enjoy long-term gains, you will want to look at places with surrounding infrastructure. Sadly, buyers will find low prices but end up with a house in the middle of nowhere. Fortunately, an investor of Kuala Lumpur real estate can find a place with adequate surrounding infrastructure. With all the services included, you...read more