KLCC Condominiums | KLCC Condominiums & Apartments – Sitting On Top Of The World
/KLCC Condominiums & Apartments – Sitting On Top Of The World
KLCC – The Playing Ground Of The KL Elite
KLCC is one of the most sought after commercial and residential address in Kuala Lumpur. A favorite among expatriates and the rich, the capital appreciation is said to be high with above average rental returns.
Widely recognized as perhaps the best planned integrated developments in Malaysia, the KLCC enclave boasts world-class amenities in the form of a landscaped park, convention centre, world-class hotels (notably Mandarin Oriental and Shangri-La’s Trader’s Hotel), the world-renowned As Syakirin Mosque, an upmarket shopping centre in the form of Suria KLCC and a host of A-grade commercial buildings (the iconic Petronas Twin Towers, Menara Maxis, Menara Carigali and Menara Exxon Mobil).
Some of the more well known residential developments within the KLCC area:-
&# service apartments built by the Hong Leong Group. Tastefully designed (“Neo Classical” according to the developer, no less), it does look quite jaded from a distance.
– Not to be confused with “The Binjai On The Park”, the Binjai Residency looks handsome and simplistically (is that a word?) elegant. Completed in 2007, the asking price has exceeded RM1,000 PSF since early 2001.
– Main selling point – each unit has got its own swimming pool. Design looks especially unique, and not to everyone’s taste for sure. I once asked my favorite real estate agent, “How much is One KL?” to which he replied, “If you need to ask, then it’s probably not for you, bucko.” Cheeky fella.
– My personal favorite. Super close proximity to the Twin Towers (literally a stone throw away). I probably a post-modernism statement. Designed by Foster + Partners.
&# units located in two towers. Delicious cafe on the ground floor. Some of the units are managed by Ascott (branded as “Marc Suites”), and these are sold at a premium.
– Seven towers with twenty floors each. Only one unit per floor so there’s lots of privacy, which is a major plus. Nice view of the landscaped park as well as the Twin Towers. One of my personal favorites!
Pavilion Residence – Located right on top of the Pavilion shopping centre, so it’s super convenient if shopping for luxury handbags is your cup of tea. Twelve acres integrated development with offices and a hotel to boot. Located at a prime spot of the trendy Bintang Walk, so it’s pretty unmissable.
– Private lifts… the epitome of luxury surely. Completed in 2011 by Malton. It’s located at a spot which has got less traffic than the rest of the KLCC vicinity, which is a definite plus. Launched at about RM900 PSF, it has breached the RM1,000 mark eons ago.
More reviews of KLCC condos and apartments can be found by clicking on the “Which Condo” links on the right.
2015 Occupancy Rates
The average occupancy rates for luxury apartments and condominiums in the KLCC enclave have been slightly declining since late last year.
There have been some new launches since then which have been received well, especially those with a good proportion of units with smaller areas. Correspondingly, developments with bigger units tend to have lower occupancy rates. There have been perpetual signs of oversupply in the area, with some developments registering low occupancy rates (some as low as 50%). Good thing to ask the agent when you go around scouting for properties in this area. ?
2015 Secondary Market Prices – What You Need To Know
Competition has increased tremendously for the last two years, and going by the classical supply-and-demand theory prices should be coming down accordingly. However, from looking at both asking and transacted prices of properties here in the KLCC enclave, pricing seems to be comparatively inelastic especially when analyzed side-by-side with Mont Kiara and Bangsar properties. We have received anecdotal feedback that prices are slowly creeping up now with the return of the expatriates (still not in droves) as well as overseas investors.
The asking price is currently between RM800 to RM1,500 new, branded developments such as the
are launching at RM2,000 PSF and above, thus setting a new pricing benchmark. Comparatively in Mont Kiara, asking prices is around RM600 to RM1,000 per square feet. Newer condominiums in the Mont Kiara enclave such as VERVE and MK11 are reaching KLCC levels in terms of prices.
The actual transacted prices have a smaller range, and this
outlines the steps on how to get property transaction data in order to calculate the property’s “true market value“. . ?
Exceptions To The Rule?
The savvy buyer will realize that there exists different “tiers” in terms of prestige and value perception even between closely located developments within the KLCC enclave.
The Troika, located just right next to the Petronas Twin Towers, is known as one of the most prestigious residential addresses in Kuala Lumpur. Its launch price was around RM1,000 PSF in 2005 but has risen to more than RM1,700 PSF in 2009 (and has remained at that level since). The Troika does seem to be “in a class of its own”, and may be immune to pricing fluctuations which affect the other developments in the KLCC area.
Another development which could be classified as the upper tier is the Binjai On The Park – known mainly as the most expensive piece of real estate in PSF terms in Malaysia. Indeed, the asking price hit as high as RM2,500 in 2001.
Possibly “Negative” Factors You Must Consider
Due to its location (touted as the nerve centre of Kuala Lumpur the capital city), you should expect a significant degree of traffic congestion in the area. KLCC is a densely populated area, and the heavy traffic discourages its tenants to venture out of the area (although most amenities are well within walking distance for most developments).
Also, KLCC could be an obvious turnoff to people who prefer less hectic lifestyles. Packed with both residential and commercial buildings, it’s definitely not for those looking for a little peace and quiet!
Transport & Connectivity
The KLCC LRT station stops underneath Suria KLCC. Public buses (RapidKL) congregate at the bus hub near the entrance to the Petronas Twin Towers. There is also a tunnel link which connects the Kuala Lumpur Convention Center with the Bukit Bintang shopping district.
Being literally at the heartbeat of Kuala Lumpur, you can opt to walk to the Bukit Bintang shopping area (about 7-10 minutes by foot) or get a cab at the stop at the Twin Towers entrance.
KLCC Properties – Worth The Asking Price?
OK, let’s face it. Figuring out how much a KLCC condominium is truly worth its asking price is kinda tricky. Being a “prestige” product, the price of a KLCC property is not governed by the same dynamics as, say, an apartment in Keramat. However, the principles remain the same – you’ll need to check the transacted prices (NOT the asking prices), the trends, and how to compensate for current market conditions, etc. This may sound complicated, but trust me, it’s not.
If you’ve been looking at some of the listings at our local property portals, you’ll see an unbelievably wide range of asking prices. It could be one of these two reasons:-
The asking price is set arbitrarily by the seller or the agent just to “gauge” market interest. “Let’s just put this out and see if anyone bites…”
The plain old bait and switch trick. “I’m sorry, but I’ve just sold the last of the twenty
soho units that I had over the weekend! May I offer you a similar soho unit at ?”
Knowing the property’s “true market value” will let you quickly eliminate these scammy listings and easily identify a good deal. And you can use this method that we are going to share with you to value any property – and not just KLCC properties.
Click on this link below for the free report, courtesy of our chums at GoodPlace.my –
(Link comes up in a new window)
Got questions? Leave ’em down below!
We like KLCC condos because they are beautiful to look at, reassuringly expensive and simply all-around awesome! We are not real estate agents, but we can hook you up with one if you like.
Enjoy the site!
How Much Is A Property Worth?
Newly updated - learn how to value a property using a simple valuation method in this mini-guide. Use it to know much a KLCC property is truly worth!
Download your free copy by clicking .
New Property Launches In KL
Want to know what's up and coming in the city? Visit our frequently updated database on new property launches in Kuala Lumpur.
Free KLCC Walkability Map
New! Our high resolution KLCC "Walkability Score" map is both informational and pleasing to the eye. And it's free, too!
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