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drbubb

Mont Kiara & Kenny Heights (KL, Malaysia - MY#4)

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K- Residence - by the same developer

 

kresidence.jpg

 

Some Comments from a chatboard

 

Re:Calling K Residence owners / 1 Year, 9 Months ago

Hi Andrew,

 

1. K Residence is the only residential apartment with an UNDERGROUND direct _link_ to KLCC.

That's the reason I bought it. It has a unique selling point (USP). From a lifestyle point of view, with Malaysian weather, its the only residential unit where you can walk to KLCC regardless of weather conditions. So you really don't need to use the car or go through traffic. Even the Binjai can't claim that. Since I work from home,this is perfect for me.

 

kres-view1.jpg

 

2. The developer has a shaky track record and this project is already running behind schedule. However, I think the location beats the other factors. Property is all about location, location, location at the end of the day. Like I said, the view from 45th floor is awesome.

 

kres-view2.jpg

 

3. The second tower at K-Residence will be launched later this year at $2,300 psf (launch price). Four Seasons Residence (directly opposite) is also rumored to range around this price. I only bought the unit last year just before the RPGT was removed. I think it was a good investment. Yes, I plan to stay there ...depending on the how the finished product turns out.

== ==

 

B/

...well, i finally managed to let mine out - it took almost 12 months to secure a tenant. apparently only 40% of the total number of units are occupied. management presented us with a very nice new year gift by increasing the service fee from RM0.35 to RM0.50 psf. my unit, i think is directly below brian wong's as i am on level 43A.

. . .

I purchased mine for RM1472500. Another RM70000 of furnishings.Am currently letting it out for RM7560/month. For a built up size of 1931 sq ft, I am getting a miserable gross return of 6%

. . .

... if you were to check the performance of KLCC properties, you will find K Residence to be one of the worst performing properties in terms of selling price per square foot- astonishing, considering its proximity to the twin towers, the light railway transit station down below, and the underpass connecting our building to KLCC

 

/More Comments : http://thinkproperty.com.my/realestate/For...nce-owners.html

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SOME MONT KIARA PROJECTS

 

IMG_6710.JPG

 

The Mont Kiara condominium enclave in Kuala Lumpur has long been a favourite choice of residence for both locals and foreigners, due to its ideal location midway between all the popular spots in the city. The Kuala Lumpur City Centre (KLCC), Damansara Heights, Bangsar and the Petaling Jaya township are all within a 15-minute radius on a day when traffic is good.

 

Expatriates, especially Koreans and Japanese, love the area for its swanky cafs, upscale restaurants and the two international schools within the neighbourhood - the Mont Kiara International School and the Garden International School. The French International School is also just 15 minutes away. Local residents love the area for the prestige associated with a Mont Kiara address, although some of the qualities that made the area famous are fast fading. With more condominium units being built, the population is expected to swell beyond what the infrastructure can support. There is no room for road-widening or more road access and peak-hour traffic could sometimes be a hassle.

. . .

At around RM564 per sq ft, capital values in Mont Kiara is strongly supported by both local and foreign investors. At its worst during the global recession when capital values in KLCC fell by as much as 30 percent, Mont Kiara values fared better with only a 10 to 20 percent drop in value, and prices are expected to pick up soon. The ample supply of units will ensure that prices will be more competitive.

/source: http://www.skyscrapercity.com/showthread.p...806&page=13

 

...Following is from another source...

 

The first of the two blocks of the three-acre Ceriaan Kiara, which has a GDV of some RM200 million, was launched in April 2007 at RM350 psf onwards despite the primary condo market being priced then at an average of RM500 psf.

 

The second block, underwritten by CIMB-Mapletree (a joint venture between CIMB Real Estate Sdn Bhd, a wholly-owned subsidiary of the CIMB Group and Mapletree Capital Management Ltd), was put on the market in January 2008 at RM440 psf and above.

 

Opposite Ceriaan Kiara is One Kiara, a two-tower condominium project on a 3.25-acre freehold land in Mont'Kiara with a GDV of RM550 million. The built-up for the condo units is from 2,174 to 3,907 sq ft, while it is 5,059 sq ft for the two duplex units and 6,329 to 7,115 sq ft for the four penthouses.

 

Kiara 1888 was launched in February 2006 at RM480 psf. It has a total of 132 condo units and 52 villas, with built-up ranging from 1,238 to 3,983 sq ft and a GDV of RM140 million. The project has been completed and is waiting for its certificate of fitness (CF).

 

Meanwhile, Kiara 9 is a project comprising 16 units of 2½-storey terraced houses of 2,694 sq ft and 194 condo units that are 1,661 to 2,201 sq ft in size. The project, which has a GDV of about RM230 million, was launched in March last year at RM700 psf onwards. Some 50% of the units were sold before any official launch, and the project is due for completion by end-2010. Driving further up the narrow and winding Jalan Kiara 3, City & Country saw two developments in the midst of the squatter settlements — Kiara 3 and Impian Villas.

 

Table_SegambutvsMontKiara.jpg

 

For example, Wong believes that the DutaLand project in Sri Hartamas (Kenny Heights) to the east of Mont'Kiara will reinforce the attractiveness of Mont'Kiara compared to Segambut Dalam.

 

Segmented into nine land parcels with a total of 88 acres, Kenny Heights will be developed over the next 10 to 15 years. The project by KH Land Sdn Bhd, a subsidiary of DutaLand Bhd, has a GDV of RM2 billion.

 

The land will be developed as commercial real estate, including offices, hotels, retail, food and beverage, entertainment establishments as well as high-end residential property. It will also offer facilities catering to medical and educational tourism.

"In view of the many other more attractive options available, Segambut Dalam is likely to remain a 'shanty town' in the shadows of these competing developments unless the government allocates funds to substantially upgrade the infrastructure in this area," says Wong bluntly.

 

"Mont'Kiara will still remain the choice of investors and expatriates due to the established presence of international schools, shopping malls and active night scene," adds Wong. He expects Segambut Dalam to lag behind Mont'Kiara and Dutamas due to the various ongoing developments in the two areas. He anticipates the land parcels in Mont'Kiara to be fully developed over the next 8 to 10 years, and only then will major developments move north towards Segambut.

 

/more: http://www.metrohomes.com/appmain/hminfo/i...=NOT/2009/00002

 

== == ==

 

EXAMPLE : Kiara 9

v407_1646_condotower(lowres).jpg

Price : 480,000 USD at RMx.xx per USD, that's RM

 

Kiara 9 is a luxury development built by Mitrajaya Holdings Bhd. Our commitment to architecture and quality excellence is evident in Kiara 9, an iconic development with cutting edge design and specifications that successfully combines aesthetics and practicality. Located at Jalan Kiara 3 in the

/see: http://www.property-report.com/property-details.php?id=10516

/and: http://www.propwall.my/mont_kiara/kiara_9

- -

The Kiara 9 freehold project comprise 16 units of three-and-a-half-storey terrace houses and a 41-storey condominium tower with standard, duplex and penthouse types on a three-acre land. It is located right at the edge where the Mont Kiara neighbourhood ends and the small road leading to a Malay kampung (village) settlement starts - for now at least. Looking at the bright side, the kampung road is a shortcut to Segambut and Kepong areas where there are many famous local restaurants. The developer is currently offering a sweetener – only a 10 percent downpayment until 2013. You can also opt for zero installments for 24 months after vacant possession and zero progressive interest payments during construction period.

Developer: Mitrajaya Homes Sdn Bhd. Call +603 6201 0990 or visit http://www.kiara9.com

 

Listed Mt. Kiara properties : http://www.propwall.my/mont_kiara?gclid=CL...CFYYvpAodbyCnag

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MK10 - Sunrise's new completion - August 2009

 

The price of 10 Mont' Kiara condo units has appreciated by almost 30 per cent since it was launched three years ago.

"The units were sold at about RM500 per sq ft then and now they are fetching RM700 per sq ft.

"This track record has made our previous customers come back to buy more Sunrise properties, especially since second time Sunrise property buyers will get a 2 per cent discount (off total purchase price)," said Cheah.

 

Tallest in Mont Kiara area. Another project from Sunrise

viva_tower__47_.jpg

(view from MK10 to KLCC, looks past Kenny Heights)

 

Description:

10 Mont ’Kiara is built on a substantial 7.346 acres of freehold land and comprises 332 units housed within two majestic 43-storey towers. With just 4 units per floor, the Standard Unit sizes range from a capacious 3,478 sq. ft. to a voluminous 4,090 sq. ft., while Penthouses range from approximately 6,500 sq. ft. to 7,500 sq. ft .

 

UP60044.jpg

 

Facilities include:

1)Landscaped conservatory

2)Indoor golf driving range

3)Wireless internet access

4)Infinity pool

5)Pavilion with a grand lobby 6)Concierge services 7)Private lift lobby 8)Full height windows 9)Yoga terrace 10)Lush, contemporary landscaped gardens with water features 11)Private dining room with kitchenette 12)Beach-themed entrance and drop-off area 13)LCD screen for pantry 14)Perimeter CCTV security system at strategic areas within the condominium complex 15)Card and biometric identification system with access code-controlled door to the towers’ ground floor lift lobby 16)Audio/Video intercom to all units, with panic buttons in all living and master bedrooms

The development is targeted to complete by mid 2009. This unit faces KLCC.

/source :

 

+++++

 

Price info, etc.:

No. of Blocks : 2, of 43 stories

Tenure .... : Freehold

Huge flats : 3,478 to 7,500 sf

Launch prices : RM1,788, 000 - 5,043,000 (RM520psf)

Subsale price : RM620 psf

 

/see: http://www.propwall.my/mont_kiara/10_mont_kiara

 

/nearby Kiara Meridan : http://www.propwall.my/mont_kiara/mont_kiara_meridin

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Kenny Heights - is not for us ... Not just yet anyway

==========

 

We planned to fly to KL over Easter to have a good look, but after the detailed research shown on this thread,

I have decided not to go ahead

 

KH_BigMain2.jpg

 

My concerns were:

 

+ The developer (Dutaland) has gone through a financial restructuring 2-3 years ago, and is not yet free from financial stress. As shown above, it seems that one of their bond issues was downgraded to non-investment grade last month;

 

+ The Dutaland share price remains weak, and has underperformed most other major Malaysian developers in recent weeks. One analyst attributes this to "slower than expected sales" (presumably at the KH project.) I always look at a developer's share prices, since it may be a signal to look at deeper issues;

 

+ According to some sources, it appears that the KH-Sanctuary was launched Nov.2009 at a minimum starting price of RM.720 - 750, with a further 10% discount to "early bird" buyers. That is significantly below the levels at which we were being offered, which started at RM.800 for the cheapest flats. The C-units, such as we were considering for purchase are on high floor with an expected good view, but I reckon they went unsold in prior sales approaches to others since November at prices closer to RM.900 - 950. (Both prices are before discounts, which can be negotiated.)

 

+ Why slow sales at KH? I cannot say for certain, but it is possible that some uncertainties about the company's finances may have something to do with it. Another factor may be that K-Residence, the company's recent completion, has had some mixed reviews from purchasers.

 

+ Another K-Residence buyer on the web was complaining that it took him 12 months to find an acceptable tenant, and even then the gross yield was only 6%. This highlights my concern that it may be tough to rent a new flat out at an acceptable yield. There is plenty of new supply coming in the Mt Kiara/KH area over the next few years, so will be very hard to predict what rents may be in 2013 when the KH Sanctuary is scheduled for completion.

 

+ Finally, there is the additional problem that the area will remain a bit like a building site until expected completion of the full KH project in 2020-21. That's a long time to cope with noise and/or an eyesore in one's view.

 

This is only one man's views, at this particular point in time. I remain enthusiastic about the vision behind KH. In the long run, it may one day prove to be one of the most desirable areas to live in the KL area. We knows, I may even want to take another close look at the project at some later stage. But right now, we are not comfortable to go ahead and buy a flat (or flats) there with the uncertainties that I perceive.

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Good for you Bubb! And honestly told. I could see your enthusiasm there in all those posts (even though I prefer the Phillipines rice paddies and chickens option myself) but...

 

remembering the Conran quote about heaven here's another which was floating on the tip of my tongue, from Browning.

 

''A mans reach should exceed his grasp

or what's a heaven for?

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... there is still a lot of "funny money" being handed out by developers ...

(this seems likely to lead to oversupply):

 

Sunrise’s MK28 targeted for launch early 2010

By Wong King Wai

Sunday, 10 January 2010 00:00

 

The popularity of the mainly expatriate enclave of Mont’Kiara in Kuala Lumpur has led to a proliferation of new and exciting residential and commercial developments in the area.

 

With each launch, developers seem to be raising the bar, introducing innovative designs and features that are unique selling points.

 

Targeted for official launch early next year is a six-star condominium project called 28 Mont’Kiara (MK28) by Sunrise Bhd, a high-end developer synonymous with Mont’Kiara. The award-winning developer was placed first in the qualitative category of The Edge Top Property Developers Awards 2009.

 

According to Ang Kee Ping, Sunrise’s assistant general manager (projects department) and the project director for MK28, work on the six-acre MK28 is proceeding well, with the foundations completed and construction of the basement underway.

 

The freehold MK28 will have two 40-storey towers with a total of 460 units. The standard units are between 2,535 and 3,000 sq ft in size and cost about RM1.9 million to RM2.5 million or an average of RM785 psf. The six penthouses of about 5,500 to 6,500 sq ft cost RM5 million onwards.

 

Each tower comprises three wings and passenger lifts that open to the individual lobby space of residents will ensure exclusivity and privacy. As for the fittings, the developer is exploring several international brands.

 

What will be unique about this project is the abundance of water features spread across its open and recreational spaces, taking up about 70% of the land area. The developer has estimated that water will cover some 16,684 sq ft of the site.

 

This will be complemented by an elevated clubhouse and open spaces designed to cater for a wide range of activities. Underground and out of sight is a six-storey car park. The project has a gross development value (GDV) of RM1 billion.

 

Although the economy is on the mend and interest in selective high-end properties has seemingly returned, Sunrise is not taking any chances. Buyers of MK28 units will enjoy an innovative and persuasive mortgage scheme, just like the one it offered for its MK11 project.

 

/more, post #37 : http://www.skyscrapercity.com/showthread.php?p=49929525

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Good for you Bubb! And honestly told. I could see your enthusiasm there in all those posts (even though I prefer the Phillipines rice paddies and chickens option myself) but...

 

remembering the Conran quote about heaven here's another which was floating on the tip of my tongue, from Browning.

''A mans reach should exceed his grasp or what's a heaven for?

 

I am rather careful when it comes to property.

I am willing to get enthusiastic, but that doesnt mean that I wont do my homework.

(The place that I am living now is a bit of an exception. I bought it quickly, because I did not want to miss

out on the high floor, and that has indeed proven to be an advantage.)

 

The Malaysian system has a 14 day "cooling off" period, so you do have time to do your homework

before writing the big cheques.

 

I think the Malaysian approach of propping up the market, by allowing people to risk smaller amounts

of initial money, like only 10% for 12-18 months, is rather dangerous.

 

Many expats left the country, and so rentals are going to be soft, or hard-to-come-by when all these

new projects hit the market. I can see the 2009 softness returning this year, and intensifying in areas

(like Mt.K) when there are waves of completions.

 

As an example, MK10 completed recently, and there seem to be loads of these flats for sale right now.

I wonder how many buyers will wind up losing money?

 

+++++

 

Wow, look !

They even have list of the "Top 10" MK condos for BTL landlords.

(This seems like good evidence of a bubble phenomenom somehow):

 

Are you looking forward to own a luxury condominium unit? Do you know that one condominium unit price in Mont Kiara can be more than a million and even higher? And do you know that you can earn a substantial amount through renting of the condominium?

 

QUOTE

As we are acknowledged, Mont Kiara is a place where you can find luxurious housing area. Apart from that, there are growing amenities and international schools in that area. It is a definitely a dream housing area for all. That's explain the growing community and increment of the housing area.

 

Today, I would like to list the top 10 Mont Kiara Condominiums.

Perhaps, you should really look to the properties analysis for each place.

 

1. Kiaramas Ayuria

2. Kiaraville

3. Tiffani Kiara

4. Kiaramas Cendana

5. Hijauan Kiara

6. Kiara II

7. Kiaramas Sutera

8. Mont Kiara Meridin

9. Kiara 1888

10. / 10 Mont Kiara

 

If you ask which condominium I preferred the most, I will choose MK 10.

Not in list? MK 10 is another name of 10 Mont Kiara. This is because the housing area is within walking distance to Mont Kiara International School. I can dine at food & beverages outlets at Solaris Mont Kiara which is just within 5 minutes of drive.

UNQUOTE

 

Let me repeat that last bit: "just within 5 minutes of DRIVE."

You have to drive everywhere in this place. Therein is another problem, to add to the bubbly feeling.

== == ==

 

 

This one would be my favorite, since it has shopping, and office space:

 

1 Mont' Kiara is an integrated development consisting:

 

5-Storey Retail Mall

20-Storey Office Tower (Menara Ireka)

34-Storey Office Building (BZ-HUB)

Residential Development (i-ZEN@Kiara II)

More than 1,400 car parks for commercial use

Located strategically at 1 Jalan Kiara, Mont' Kiara.

 

/see: http://www.1montkiara.com.my/masterplan/

 

I might be worth a look after completion, when there may be many sellers

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Mont Kiara Condo - secondhand Opportunity

 

Tags: condominium , i-ZEN@Kiara , Ireka Land , JYMS Properties , Kuchai Lama , mantra , Mont’Kiara , Winnie Foo

 

By James Chong of theedgeproperty.com / Friday, 09 April 2010 09:00

 

Address: i-Zen@Kiara 1, Mont’Kiara, KL / Size: 1,297 sq ft / Price RM675,000

002vlm.jpg

 

No of bedrooms: 3 / No of bathrooms: 3 / Tenure: Freehold

 

Sale handled by: Winnie Foo of JYMS Properties (Kuchai Lama) (017-282 9930)

i-Zen is another elegant project by Ireka Land Sdn Bhd that encompasses the i-ZEN 5S mantra – Style, Service, Security, Sophistication and Soul. According to the agent, this unit is located at one of the higher floors and faces the Pines condominium. The unit is fully fitted with built-in cabinets and comes with two car parks. The development is located in one of the most sought after neighbourhoods in Kuala Lumpur, fetching high-yield rentals due to its amenities, prestige and convenience. KL and PJ are easily accessed via various highways and roads.

 

/see: http://www.theedgeproperty.com/todays-hot-...-montkiara.html

 

Example Interior Photo

002r.jpg

 

Example Floorplan

I-Zen%20@%20Kiara%201%20(Floor_Plan_3).J

/more: http://www.malaysiacondo.com/2009/07/i-zen-kiara-i.html

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Condominium, Mont’Kiara

Tags: condominium , Joen The , Kiaraville , MM2H , Mont’Kiara , Oriental Realty

 

Address: Kiaraville, Mont’Kiara, KL / Size: 1,867 sq ft / Price: RM1.1 million

 

No of bedrooms: 3+1 / No of bathrooms: 4 / Tenure: Freehold

Sale handled by: Joen Teh of Oriental Realty (016-222 5689)

 

Kiaraville__8_.jpg

Pool view

 

mont_kiara_kiara_ville_condominium_penth

Penthouse view

 

Kiaraville is another exclusive development in a sought after address. According to the agent, the unit is located just beneath the penthouse and has a good view of the swimming pool. The development is located on the highest point of Mont’Kiara and offers a breathtaking view of Kuala Lumpur's cityscape. The development features modern architecture with a nature's touch. It is also part of the Malaysia My Second Home Programme (MM2H), making it a favourite living space for foreigners and is located just opposite Solaris Mont'Kiara. The unit is partly-furnished with lights, built-in cabinets in all rooms, designer air-conditioners, fans and comes with two parking bays. The master bedroom has a good view of the Kuala Lumpur city-scape and overlooks the Istana Negara.

 

/see: http://www.theedgeproperty.com/todays-hot-...-montkiara.html

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''i-ZEN 5S mantra – Style, Service, Security, Sophistication and Soul.''

 

Soul? You are having a laugh! Montparnasse has soul. You're gonna lose your avatar there by the look of it and will need The Scream to sum up the 5s's.

 

I think it might be walkable, but heart (as in thread title) has long been surgically removed. (in fact it never had one and neither do the people who live there - I'll wager).

 

How about 'techno grandiosity'? Illlusions of (concrete) grandeur?

 

I'll venture that in the future these places will not only lose their monetary value but will lose their reason to be homes.

 

I'm more of the somewhat romantic opinion that a city, when talking about heart or soul, needs its history and strategic, historical reasons for existence. Art and architecture, and how it orchestrates our humanity cannot be magicked up and should not be mistaken by glib, meaningless advertising 'I-ZEN 5s mantra'. Perhaphs 'stupid' or 'sucker' could be sewn into their alliteration campaign?

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''i-ZEN 5S mantra – Style, Service, Security, Sophistication and Soul.''

 

Soul? You are having a laugh! Montparnasse has soul. You're gonna lose your avatar there by the look of it and will need The Scream to sum up the 5s's.

Check the Link

Those arent my words, they are from the advert.

 

This project is only 3-5 minutes walk from Kenny Heights (I reckon),

and so will benefit from the installation of a "walkable heart", if and when it happens.

 

We shall visit the place in about a week or so, and see how feasible.

+++++

 

Re: The KL area Market

Here's my "best guess" on how the 18 year cycle might be applied in Penang, Malaysia.

(added Spring 2010. It seems that KL may have peaked "earlier" in 2008.):

zzzz.gif

 

Comment:

How is KLCC condo market doing? / 2 Months, 3 Weeks ago Karma: 1

Things picking up? I understand that very roughly speaking high-end condos went from 500psf about 5 or 6 years ago, to around 1,500 when they peaked just over a year ago, and now they are around 1,000. Is that right? Just very approximately. Around a third off their peak.

 

And what are rental yield like? I'm not too hot on the KLCC but if prices are really depressed I think it might be a good time to buy. With the property market picking up the KLCC will likely lead a recovery.

/source: http://thinkproperty.com.my/realestate/For...rket-doing.html

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MORE MARKET COMMENTS

 

1/

A client wanting 10% return...!!!

That is the very reason why this market will continue to go south price wise.People expect a return and this market doesn't give a return so why buy ..My area of interest is KLCC and IMO it gives 3 -4% max gross yield in 90% of cases if you use realistic rental rate.(If you use 2 year old rental figures from a long contract started a few years back then you will get a higher yield but when that contract finishes you will be looking at 3%( realistically) -4 gross yield or less in most cases(2% or less nett after maintenance and assessment/quit rent).A friend was getting 7.5k for a KLCC unit from an Embassy on a 4 year contract.The contract finished and after 5 months empty it just got rented again at 5k with new furniture! )Yes unfortunately rents continue to fall around KLCC and so yield Based on todays prices keeps falling too.In fact the yield say 18 months ago when prices were say 1200 psf (and MUCH HIGHER rents)were far more compelling than the situation today.Today prices have dropped but so have rentals and from what I can see the yields 2 years go were far higher EVEN though condo prices were higher than they are today.So yes we all want higher yields to encourage us to buy but prices remain at a level that doesn't encourage any buyers.People buying today clearly need to think harder before parting with their cash IMO.If people think buying today is good value then they must be far smarter than I am because I fail to see any value in the market place and no driver for higher prices!So the wait continues...and continues and we wait for the bailouts to end .

 

So Chong When you find 10% yields..tell us all where!!

 

2/

Yes, 10% is a rediculous return to "expect" or ask for if that is a client of yours.

I wouldn't necessarily be as gloomy as to say 90% of property returns only 3 to 4%. Such numbers are indeed prevalent but confined to the overpriced condos of KLCC golden triangle that reached for the stars a few years back, and where many investors thought indeed that all multinational expat managers had RM 20,000 housing allowances that they didn't care about. It is because of such disparity you find some KLCC properties with such miserly returns.

 

Normally however a smart buy can get you 6 to 8% gross, and slash 1.5% or so for service charges and other costs to get net. It is not uncommon today to pick up a RM750K Mont Kiara three-bedroom that can easily rent for 4K per month. with equipment being new and under warranty, and service charges being under 400 per month, you can net 40,000 per year. Armanee Terrace in Damansara Perdana has many corner units that are selling for 800,000 (forget intermediate units, the back bedrooms are too dark and gloomy), and these are renting at 5000 per month if furnished properly considering they are 4+1 bedroom duplexes at over 3000 sq. ft. with a view. 60,000 per year in net rental after service charges and petties is still decent above 6% net return, and that is without considering a high floor can fetch more. There are also semi-d's that are renting at 8000 per month when they cost less than 1.2 million in the first place, and with really almost non-existent service charge it nets over 7%.

 

Some properties are good buys for long term investment and won't make good rental return, some are good for rent but not great appreciation, you need to study the whole city and open up your options to desirable locations that are undervalued. Seems reasonable though that a property that returns 10% rent will not just be sitting there waiting for someone to want it

 

/source: http://thinkproperty.com.my/realestate/For...tal-Return.html

 

+ + +

 

3/

Re:Do you think Mont' Kiara is a ideal places for investment ? 5 Months, 2 Weeks ago Karma: 0

From point of view, supply over demand. Look at Star Newspaper and you will be surprise that so many property in Mont Kiar for advertise

I viewed one condo before, it's near international school . Selling price is RM 460k and rental is RM 3300. The unit is tenanted to a Japanese family. It give handsome gross ROI of 8.6%. But , bear in mind , if the Japanese family move out, got to wait...good for those who have holding power to pay bank loans. For investor out there , BLR is going up...and will go further up in next year.

Bernard- Damansara Specialist Agent.

 

4/

Do you think Mont' Kiara is a ideal places for investment ? 5 Months, 2 Weeks ago Karma: 0

+ Too congested.

+ surrounded by too many roads/highway.

+ less greenery

 

/more: http://thinkproperty.com.my/realestate/For...investment.html

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Future trends in property market

leecheng@thestar.com.my

PETALING JAYA: High-rise living, security and proximity to amenities and other conveniences are current trends in the property markets, while green buildings are the way to go in the future, several speakers at a seminar said.

 

Contrary to what many believe, Mont’Kiara will continue to grow as a popular condominium enclave after Bangsar, Klang Valley’s first condominium hub, said Ho Chin Soon Research Sdn Bhd managing director Ho Chin Soon.

 

Ho was speaking at the “Future Trends in Property” seminar organised by Sunway City Bhd here yesterday.

 

The three main condominium enclaves in Kuala Lumpur are KL City Centre (KLCC) area, Mont’Kiara and Bangsar.

 

There are today a total of 390 buildings or 24,200 high-rise residential properties (serviced apartments and condominiums) in the Golden Triangle of Kuala Lumpur which includes KLCC area; Mont’Kiara, Damansara Heights, Bangsar, Ampang and Sentul.

 

Despite the thousands of units in Mont’Kiara, the area would continue to grow as it has been doing the past three years, said Ho.

 

“Once a favourite among the expatriate community, Mont’Kiara today is increasingly being occupied by Malaysians who have decided to make that location their home,” he said.

 

Because of security issues and the unwillingness to live in further places like Rawang and Nilai, people would opt to live in high-rise, he said. This would be the trend in thecities and other parts of the country like Penang.

 

 

Ho said as the economic recovery took off, developers preparing to launch must take into consideration three main factors - location, timing and branding.

 

“Demand and supply are not everything about land economics,” he said, adding that the other change to note in Mont’Kiara was the trend towards commercial.

 

“People doing buinesss will want to go into that location,” he said.

 

Veritas Architects Sdn Bhd principal founder and chief executive officer David Mizan Hashim said “green” elements were the other trend in the property market.

 

“Places which have low energy consumption, sanitaryware and faucets which promote efficient water consumption, and sustainable features are increasingly become popular.

 

“People will increasingly want flexibility to convert a three-room unit to two or vice versa. This means the introduction of screens to support the desire and need for flexibility,” he said.

 

He said the popularity of gated and guarded projects would continue to grow and spill over to places like Johor, Perak and Penang.

 

“Even within a high-rise residential development, increasingly buyers will want new elements and features that set it apart from the rest,” he said.

 

Older projects will become the casualties in this demand for better and more innovative residential developments.

 

Not forgetting the need for innovation and technology in today’s lifestyle, Research Inc (Asia) Sdn Bhd managing director Datin Adila Lim Lay Ying cautioned against allowing designs to be defined by technology. She said past examples overseas showed that futurish designs emulating science fiction did not work.

 

“Buildings of the future should allow us to express ourselves, how we want to live and work,” she said.

 

On the KLCC and the various projects ongoing, she said the number of projects there would continue to grow and prices continue to rise, with certain projects to hover between RM2,500 and RM3,000 per sq ft.

 

SA Architects Sdn Bhd director Richard Sau said “green” features would continue to add value to projects.

 

/more: http://starproperty.my/PropertyScene/PropertyNews/3945/0/0

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Other I-Zen flats for sale

 

2 bedrooms, USD 271000 (RMxxx) / 913 sf = RM xxxx psf - 21/fl. (01/27/10)

 

/see: http://www.homesonsale.co.uk/malaysia-b244_0-en.html

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Better not live anywhere, unless you can shop nearby...

 

Village Grocer to serve as anchor tenant for 1 Mont’Kiara retail mall

By Melody Song theedgeproperty.com

Wednesday, 06 January 2010 12:28

 

457vv7.jpg

http://www.thevillagegrocer.com/

 

KUALA LUMPUR: The 1 Mont’Kiara retail mall, slated for opening in the second half of 2010, will see gourmet food supermarket Village Grocer as its main tenant, taking up 25,000 sq ft of space.

 

CapitaMalls Asia marketing and communications manager Doreen Teh told theedgeproperty.com that there were several other big-name tenants set to rent space in the mall, which would be revealed at a later date.

 

The tenant mix is expected to include various lifestyle stores, fashion and accessories, as well food and beverage (F&B) outlets, including concept restaurants that promise to offer new and unusual culinary experiences to patrons.

 

The retail complex will see a gross lettable area of approximately 350,000 sq ft with an estimated 100 stores and serve as the “public face” for the 1 Mont’Kiara integrated mixed development.

 

The mall’s main design feature will be a 6,000 sq ft light-filled atrium with EFTE (ethylene tetrafluoro ethylene) roofing that reacts to lighting and projection which can absorb solar radiation and reduce thermal loss.

 

In an advertorial in the Edge Financial Daily recently, Ireka Development Management president and CEO Lai Voon Hon said he expected the mall to serve the catchment market’s daily needs and wants.

 

“The 1 Mont’Kiara retail mall is set to be the focal meeting point of the Mont’Kiara community for cross-cultural exchange of ideas, understanding, and coming together; a place to be, to see, to be seen and to be heard,” he said.

 

The 5-storey retail mall would be part of the 1 Mont’Kiara development (pictured) which will comprise a 20-storey office tower, a 34-storey office suite block and serviced residences including i-Zen@Kiara I and i-Zen@Kiara II.

 

The goal of the development is to serve as a one-stop centre for young professionals and expatriates from neighbourhoods within a 12km radius such as Bangsar, Damansara Heights, Bukit Tunku and Desa ParkCity.

 

The developers are London Stock Exchange-listed Aseana Properties Ltd, which is managed by Ireka Development Management Sdn Bhd, and Straits Times Index-listed CapitaLand Commercial.

 

The joint-financiers for the project are United Overseas Bank and Maybank.

 

======

http://www.i-zen.com.my/one.htm

 

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K- Residence - by the same developer

. B/

...well, i finally managed to let mine out - it took almost 12 months to secure a tenant. apparently only 40% of the total number of units are occupied. management presented us with a very nice new year gift by increasing the service fee from RM0.35 to RM0.50 psf. my unit, i think is directly below brian wong's as i am on level 43A.

. . .

I purchased mine for RM1472500. Another RM70000 of furnishings.Am currently letting it out for RM7560/month. For a built up size of 1931 sq ft, I am getting a miserable gross return of 6%

 

Update: I spoke with someone working at the building today,

and he confirmed it is now 50% occupied, with about 17% of the owners living there.

 

I liked the standard of finish, and loved the location

 

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Three to See ... in Mont Kiara, the estate agent told us:

 

1/ Kiaraville / August 18, 2005

photos :: http://www.luxury-mip.my/?p=340

Being in Mont’Kiara, it suffers/enjoys the usual problems/perks. First the perks: High class address, expatriate tenants, good return on investment, near to international schools. Near to KL, shopping paradise, gourmet food heaven in Desa Sri Hartamas. Near to Sprint, NKVE, LDP, Jalan Duta. Then the problems: Only one access road at Mont’Kiara at the moment. You cannot even begin to imagine to congestion during peak hour. There is another alternative route planned out to KL, but that’s in the future. Area will suffer from over-development soon.

 

The sales and marketing for this project is handled by an international real estate agent, in association with a local agent.

 

For the record, this is a joint venture between Binaderas with Singapore property giant Capitaland (no relations to the Malaysia company Capital Land) and OCBC Bank, Singapore. Binaderas is owned by the same people

 

 

2/ Tiffani by I-Zen

Video ::

 

3/ Kiara 1888

Video ::

Kiara 1888 is smacked at the very edge of Mont Kiara, the closest to Segambut Dalam. It is a very short distance away from the squatters that has long been haunting the inner part of Segambut Dalam. With the squatter houses extremely close to the side of the narrow road along the way from Segambut to Jalan Kiara, it is not a good sight at all.

With the increasing residential developments in the same area, and also the two international schools nearby, traffic congestion is going to be at its peak. This made Mont Kiara a pretty heavily developed area, and the road systems cannot contain the heavy traffic. This whole area is already crowded with too many condominium projects, there are upcoming developments seems to be sprouting everywhere with rows and rows of small plots owned by private owners and development companies that are yet to be developed.

 

But despite of all that, Kiara 1888 is a beautifully designed development that meets various needs of the residents. Kiara 1888 has all the basic facilities you would see in its competitors, except that the landscape here is quite beautifully laid, especially the entrance and the surrounding of the Zen Garden as well as the pool deck. There is also a nature park that comes with showers that are able to give the residents an interesting experience, living in a space where greens are not lack as well.

 

-Convenient & easy access to KL, PJ, TTDI via NKVE, SPRINT, PENCHALA LINK & other main roads

 

February 27, 2006 / Kiara 1888, Mont’Kiara

(The typical units are priced at RM400,000 to RM1,300,000, which calculates to a slightly cheaper RM320 to 350psf.)

/see: http://propertymalaysia.blogsome.com/2006/...1888-montkiara/

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Tiffani Kiara, Mont Kiara / Freehold condo (40 properties)

========

2,157 sf / ? + 1 BR, ? baths : 03.15 (Kam JY .) : RM ?,???,??? (RM 580 psf)- 23rd fl

1,641 sf / ? + 1 BR, ? baths : 03.13 (Ken Sim) : RM 0,968,190 (RM 590 psf)- hiway view

2,159 sf / ? + 1 BR, ? baths : 04.15 (Kam Bro.) : RM 1,295,400 (RM 600 psf)

others up to 700psf

 

Kiaraville, Mont Kiara / Freehold condo

======

2,495 sf / 3 + 1 BR, ? baths : 02.26 (Eliane Liang) : RM 1,347,300 (RM 540 psf)

1,593 sf / 3 + 1 BR, ? baths : 03.23 (Adrian ...) : RM 0,900,045 (RM 565 psf)

1,593 sf / 3 + 1 BR, ? baths : 02.25 (Ron Tan) : RM 0,923,940 (RM 580 psf)

1,867 sf / 3+1 BR, 5 baths : 04.22 (Joen Teh) : RM 1,100,000 (RM 589 psf)

1,867 sf / 3+1 BR, 5 baths : 03.29 (Vera Hah) : RM 1,200,000 (RM 643 psf)

 

Kiara-1888, Mont Kiara / Freehold condo

=======

1,636 sf / 3 + 1 BR, ? baths : 03.15 (Wm Lee) : RM 0,736,200 (RM 450 psf)

1,636 sf / 3 + 1 BR, ? baths : 04.20 (Kam JY ) : RM 0,750,000 (RM 458 psf) hi floor

2,551 sf / 3 + 1 BR, 5 baths : 02.10 (Vera Ha ) : RM 1,020,400 (RM 400 psf)

2,357 sf / 3 + 1 BR, ? baths : 04.24 (Jay .....) : RM 1,100,000 (RM 467 psf)

various : 1238/1636/1636/1927 ..etc ??? (RM 420 psf)

 

Solaris Dutamas, Dutamas / Freehold condo

======

0,997 sf / 2 + 0 BR, 2 baths : 03.18 (Joey Li ...) : RM 0,558,320(RM 560 psf)

0,672 sf / ? + 0 BR, ? baths : 03.17 (Chris Ng ..) : RM 0,400,000 (RM 595 psf)

1,145 sf / 2 + 0 BR, 2 baths : 03.26 (CK Chong) : RM 0,680,000 (RM 594 psf) corner unit

1,238 sf / ? + 0 BR, ? baths : 01.27 (Eric Teo .. ) : RM 680,900 (RM 550 psf)

1,265 sf / Shop for sale ... : 04.20 (Angela Lee) : RM 2,200,000 (RM 1,739 pf)

Others, up to 650 psf

 

/see: http://www.propwall.my/mont_kiara/tiffani_kiara/classifieds

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Tiffani Kiara, Mont Kiara / Freehold condo (40 properties)

========

2,157 sf / ? + 1 BR, ? baths : 03.15 (Kam JY .) : RM ?,???,??? (RM 580 psf)- 23rd fl

1,641 sf / 3 + 1 BR, ? baths : 03.13 (Ken Sim) : RM 0,968,190 (RM 590 psf)- hiway view

2,159 sf / ? + 1 BR, ? baths : 04.15 (Kam Bro.) : RM 1,295,400 (RM 600 psf)

others up to 700psf

 

tiffani_by_i-zen__6__thumb.jpg

 

The agent showed us... 33A-fl. Flat

1,641 sf / 3 + 1 BR, ? baths : 04.30 (Nat.....) : RM 1,050,000 (RM 640 psf)- hiway view

 

Estimated rent was: RM6,000-6,500/mo. at RM6,000 Gr.Yield: 6.86%

 

Price======= : sq.Foot : Per sf : Rent== : Psf

RM 2,300,000 : 3,700.sf: RM 622 : 14,000 : 3.78 / (19mar10)

RM 1,120,000 : 1,648.sf: RM 680 :- 6,500 : 3.94 / (20apr10) ff

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Condominium For Sale - 10 Mont Kiara or MK10 or MK 10

RM 2,600,000

RM 701.94 psf (built-in)

3704 sqft / 344 sqm (built-in)

Condominium Freehold

4 Beds 6 Baths

Listed on Feb 27, 2011

===

Richmond : RM 1600 / 1938 = RM-825 psf Full Ask

1938 x 700 = RM 1356k : 84.8%

1938 x 750 = RM 1454k : 90.9%

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Malaysian react with breath-taking stupidity when it comes to Mass Transit.

 

Clearly they do not get it, and are hell-bent on ruining their economy and their future, thanks to the "magic elixir" of subsidised low oil prices

 

EXAMPLES:

=========

1: Idiocy:

Dun think there are LRT/MRT going there. Maybe 2nd phase. Anyway, MK is for rich people stay. Why need when you can drive?

 

2: Sense:

That's the problem with Malaysian mentality. If everyone thinks rich must drive car then the world would be clogged. If you go sydney where cars are cheap, people would still take public transport for a whole host of reasons, like environment, expensive cbd parking fees and stress free morning ride.

 

3: Idiocy:

At least it helps investors... If invest low-mid end properties, buy beside LRT. If invest high-end, avoid LRT like the plague

 

/source: http://forum.lowyat.net/topic/1795308

 

When they see gasoline prices hit $10 a gallon, and their air quality is ruined, some of these drive-yourself clowns may finally get it.

All the best cities in the world have excellent transport, and KL will remain a third class place until they do get it.

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