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).
Searching for properties can be an exciting experience, but with so many properties on the market it can also be an overwhelming process. It doesn’t have to be. Arm yourself with these seven tips for finding your dream property and you will find the right place for you. 7. Location, location, location! Location is the most important factor in real estate. Nearby improvements, such as a new shopping centre or widening of the road, can greatly affect the value of your property. Keep in mind that a property in a great location is much easier to sell later on. Search the best property location here. 6. Short term vs. Forever Home Do you plan to own this property for at least a few years, or longer? If you know you’ll only be in the area for a short time, renting might be a better option for you. Closing costs and a rapidly changing market might mean you’ll owe money on the sale, but if you stay put for a few years, you are more likely to come out ahead. 5. Commute Time Commute time is an important factor. While it might not seem like a big deal when you first move in, it can become a hassle over time. Ask yourself, will I be willing to drive this far a year from now or will I grow tired of it by next month. 4. Children If you have school-aged children, buying in a good school system will be an important factor for you. In addition, good school systems help increase property values. Likewise, if you plan to start a family in the future you will need ample room for your children to sleep and play. Consider that teenagers take up quite a bit more space than toddlers, and plan accordingly. 3. Price Don’t let your eyes get bigger than your wallet. Talk with a lending professional about how much you can realistically afford. It is recommended that you get pre-approved before you start looking for homes, that way you won’t exceed your housing budget. You’ll need to set aside some funds for taxes and basic upkeep as well. 2. Look Beyond the Wall Colour Sometimes it’s difficult to imagine yourself living in a space that someone else has decorated. Look beyond the wall colour and the drapes and try to imagine your belongings in that space. If that proves to be too difficult, there are apps on the market that allow you to take a picture of the offending wall and change the wall colour in your photo, making it easier to imagine your dream home. 1. Needs vs. Wants We’ve all done this at some point. It’s hard to ignore the bells and whistles sometimes, but ask yourself if you really need a three-car garage or an industrial kitchen. Keep a list of what you need, also called ‘deal breakers,’ and focus on those. Everything else is icing on the cake. On the flipside, if something about the property bothers you before you purchase it, it is likely to bother you after. Listen to your gut about what you can and can’t live with. Now that you know what your dream property needs to have you can start finding new properties for sale in the UK. The Internet...read more
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
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 interested in. Be sure that the information you gather is current. Finding a nice townhouse is an options some consider when buying in Malaysia. Realtors and Real Estate Agents can make a Difference! Another tip that is important is to realize that real estate agents and realtors can be quite helpful with the buying process. Real estate agents and realtors have access to online information that will add to your research and in most cases, will give you an upper-hand toward success in finding good property in Malaysia. Look Carefully at the Location Most importantly, evaluate the location you’re interested in as being suitable for development. Look for hospitals and schools that may be under construction. Find out if the roads have been paved or in the process of being reconstructed. If the location you’re interested in has good growth potential, then you may have found a good area for buying property. Buying Near a School or University is a Plus! It is important to note that any location that is near a university or school; will bring success. Most families will consider buying or renting property if the property is near a school or university. So, be sure to keep this one important fact in mind. Other tips to keep in mind when buying property in Malaysia are determining what kind of house or property you want, the percentage of the first payment, obtaining a certification from an architect, finding out the interest on late payments, the Termination of the Sales and Purchase Agreement, Infrastructural Maintenance Fee and the maintenance and management fee. To conclude, buying a property in Malaysia can be a wonderful experience; however, with good research and knowledge about the area, you will make an effective and good choice in this area of the world....read more