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...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,...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...read more
Investing in property can be a wonderful experience; however, it all depends on how much research you conduct; especially when it comes to investing in property in Malaysia. Tips and Guidelines when Buying in Malaysia There are some tips and guides that will help if you decide to buy property in Malaysia such as comparing and contrasting local competitor’s prices. This will give you a better idea on the value of property. It is important to check the average of prices between houses or property for sale in the location you’re...read more
[Credit: i-property.com.my] Still have questions? Read these in-depth how to buy property in Malaysia...read more