Categories
Analysis Condominium House Malaysia Property Public Transport Rental Serviced Apartment Urban

House rental rates nearby the Kelana Jaya LRT line

Reading time: 3 minutes

Some of us may wonder how the Kelana Jaya light railway transit (LRT) line has affected the rental rates of nearby houses.

Our team at RED ANGPOW has performed an analysis on that subject matter recently.

We have gathered data on rental prices of more than 90 residential areas along the Kelana Jaya LRT line that covers the distance of 46.4 kilometers and 37 stations.

Then, by using our very own tool, we formulated some graphical analyses to describe the patterns of rental rates along that LRT line.

The first analysis

Kelana Jaya LRT line

Firstly, we have detected there are 39 residential areas with the rental rates lower than RM2,000 per month.

On the contrary, tenants in 58 residential areas need to fork out more than RM2,000 every month to pay for their rents.

The second analysis

Kelana Jaya LRT line

Secondly, we have also analyzed the range of rental rates for apartments, condominiums, link houses, and serviced residences and compared their distances from the Kuala Lumpur city center.

For houses located in residential areas within the distance of 19 km from the city center, the rents range from RM900 to RM8,500 per month.

Most of the houses in those residential areas are rented out at the rates of between RM1,000 and RM5,000 per month.

Only two residential areas have rental rates of below RM1,000 per month while five residential areas comprise houses with rents higher than RM5,000 per month.

The third analysis

Kelana Jaya LRT line

Thirdly, we will take a look at rental rates for houses nearby stations along the Kelana Jaya LRT line.

From the chart, we can see that a 4-bedroom house nearby Ampang Park LRT station can be rented out at a rate of about RM7,000 per month.

On the other end, tenants are expected to pay the monthly rent of RM1,300 for a 3-bedroom house nearby Wawasan LRT station.

If you think a single bedroom house can be rented at a lower rate, then you are in for a surprise.

A single bedroom house located in the vicinity of Kerinchi LRT station may contribute around RM4,000 to the landlord’s income every month.

The final analysis

Lastly, let’s find out the median rental rates for 3-bedroom houses in residential areas located nearby the Kelana Jaya LRT line.

Altogether, there are 19 residential areas with 3 bedrooms around 11 LRT stations which comprise 16 condominiums, 2 apartments, and 1 serviced residence.

Those LRT stations are Wawasan, Lembah Subang, Kelana Jaya, Taman Melati, Wangsa Maju, Gombak, Ara Damansara, Sri Rampai, Universiti, Bangsar and Dato’ Keramat.

Any unit at The Haute condominium which is located about 1 kilometer from Dato’ Keramat LRT station can be rented out at the rate of RM2,000 per month.

The second place goes to Menara Pelangi apartment (about 10-minute walk from Bangsar LRT Station) with the rental rate almost equalling The Haute.

For those who plan to rent a 3-bedroom house with the rental rates lower than RM1,500, they may look around somewhere near Wawasan LRT Station.

Rhythm Avenue, The 19 USJ City Mall and Goodyear Court 10 will be the right places for them to start searching.

All those three residential areas are conveniently located about 1 kilometer away from the Wawasan LRT Station.

Before we go…

In the future, RED ANGPOW will perform similar analysis on Sri Petaling and Ampang LRT lines.

Please follow our Facebook page and Twitter to keep abreast of our latest article.

Other articles:

Locating the Damansaras on Malaysia map

What does RED ANGPOW do?

Categories
Analysis Community Condominium House Malaysia Malaysian Property

What is the most popular word in housing project names?

Reading time: 2 minutes

Some of us may wonder what is the most popular word in housing project names all over Malaysia.

Could it be Precinct, Heights, Mont, Vista, Seksyen, Perdana, Saujana, Permai or Damai?

And the winner is…

To find the answer, RED ANGPOW has recently analyzed that area of interest.

Guess what? The word Indah came out on top of the list.

Overall, more 500 housing project names contained that word in the period spanning nine years from 2010 to 2019.

Some examples include Taman Senawang Indah (Negeri Sembilan), Taman Indah Jaya (Teluk Intan, Perak) and Taman Kencana Indah (Padang Nanas, Terengganu).

housing project names

Consequently, the second most popular word was Desa followed by Jaya, Bandar, Seri, Bukit, Sri, Permai, Perdana and Impian.

Well, the next 10 words that made it into top 20 were Alam, Utama, Saujana, Heights, Putra, Mutiara, Damai, Setia, Villa and Baru.

Johor

housing project names

Our analysis also discovered that Indah was the most popular word among housing project names in Johor.

Besides Indah, these 19 words spelt out below had also caught the attention of developers when it came to naming housing projects in the southern state.

They were Bandar, Jaya, Seri, Sri, Bukit, Impian, Utama, Putra, Mutiara, Desa, Setia, Pulai, Perdana, Puteri, Permai, Harmoni, Saujana, Heights and Emas.

Pulau Pinang

The word Indah was also the most popular for naming housing projects in Pulau Pinang, succeeded by Seri, Permai, Bertam, Villa, Bukit, Tanjung, Perdana, Jaya and Park.

Other words were Emas, Pinang, Sri, Desa, Mutiara, Garden, Sungai, Vista, Setia and Oren.

Kuala Lumpur

For Kuala Lumpur, the word Kiara topped the list, followed by Bukit, Desa, Sentul, Sri, KL, Jalil, Setapak, Damansara and Villa.

Next in line were Seri, Park, Bangsar, Platinum, Petaling, Laman, Sunway, One, Damai and Alam.

Selangor

Bandar has been the most popular word among housing projects in Selangor.

Trailing that word were Desa, Alam, Bukit, Seri, Saujana, Impian, Indah, Putra and Heights.

The rest of the popular words were Sri, Salak, Jaya, Meru, Utama, Sungai, Permai, Villa, Perdana and Bentara.

Looking forward

In foresight, we may ask ourselves this question: Will Indah still reign on the top of the list for the next 10 years?

Honestly, we don’t know.

When the time comes, RED ANGPOW will perform another analysis just like this.

Certainly, we will do that with tools more advanced than what we have now.

Other articles:

What does RED ANGPOW do?

Neighborhoods in (Peninsular) Malaysia

Categories
Condominium Elite Finance House Lifestyle Malaysian Mortgage Property Serviced Apartment Urban

5 New Year’s resolutions that may help you buy a new home in 2020

It is less than a week left before we say goodbye to 2019 and greet welcome to 2020. Now maybe a good time to think about what your New Year’s resolutions will be.

If buying a home is at the top of your list, it will be helpful to have resolutions that can keep your financial health in shipshape

Cut down on monthly subscription services
Photo: Pexels

Yeah, it surely seems convenient to have monthly subscription services especially when the payments are automatically deducted from your credit cards.

But, one of the downsides of doing that is you may not realize those payments can hurt your credit rating.

To make things worse, the guy from the bank’s credit risk department may pull your report before you settle your credit card balance in full at the end of the billing cycle.

To avoid that kind of unpleasantness, only subscribe services that you need and better still, settle your bills by paying in cash via debit cards.

Pay your debts on time
Photo: Pexels

Easy to say but hard to do, all the more so for bad paymasters. Please keep in mind, nothing makes lenders happier than loans paid on time by borrowers.

Your ability to pay loans, credit cards, and bills on time will reflect positively on your credit history.

Anyhow, some people may think that it will be easier to secure loans if they haven’t borrowed money from any financial institution or made purchases using credit cards.

That is considerably untrue because your home loan application may be rejected due to your nonexistence in the credit realm.

Always monitor your credit
Photo: Pexels

You never lag in paying your loan installments and bills. So, you think your credit rating is OK. Then, you go and apply for a home loan.

All of a sudden, you find out the bank rejects your loan application because your best friend defaults on his business loan and of course, you are his guarantor.

You can save yourself from this unpleasant situation by checking your credit frequently. At least, do so once a year.

For Malaysians, you may get your credit scores from rating agencies like CTOS, Central Credit Reference Information (CCRIS), and Experian Information Services Sdn Bhd (Experian).

Resist the temptation to take big fat loans
Photo: Pexels

Forget about buying a new car or taking your family overseas on an expensive vacation. In any case, hold your horses until your home loan is approved.

Lenders are also particular about your debt-to-income ratio or to put it in layman’s term, the amount of your debt payment divided by your gross income.

Your loan application has a greater chance to be approved if you have a lower debt-to-income ratio.

The lower your debt-to-income ratio, the less likely you will face trouble in repaying the home loan in the event of financial hardship.

Don’t change jobs
Photo: Pexels

Although it sounds old-fashioned, the saying ‘a rolling stone gathers no moss’ always rings true.

Potential homebuyers should stick to their current jobs as a career move especially to a different industry may raise some alarm to lenders.

Job loyalty can be a positive factor in backing your home loan application as it allows financial institutions to forecast your future income easily.

Besides, the job market in Malaysia doesn’t look good these days due to unfavorable economic conditions which began last year.

On a final note, we at Red Angpow would like to take this opportunity to wish you a Happy New Year. May 2020 will bring success and happiness to all of us.

Categories
Condominium Elite Finance House Insurance Lifestyle Mortgage Property Rental Urban

5 questions you must ask before buying a house

So, you want to buy a house. Unless you have stacks of cash at your disposal, purchasing a home requires a long-term financial commitment that may last until the next generation.

Be it a landed or a high-rise property, it is highly recommended for you to gauge your state of readiness before sealing a deal with the developer or the real estate agency.

To make life simpler, we have compiled five questions potential homebuyers must ask themselves as part of their homework prior to making the great leap forward.

1. Do I have the financial capability to purchase a home?

Well, maybe you have saved up enough money to pay the downpayment and all other costs related to the purchase. Or, you may just withdraw some money from your Employees’ Provident Fund (EPF) account.

Thinks look quite good for now. But, after signing the sales and purchase agreement, you find out that you may have to fork out more extra money to install iron grilles on doors and windows. Perhaps, the house needs some repairing to be done.

Besides, don’t forget to calculate other monthly financial commitments like a car loan, an education fund for your kids, study loan repayment and personal loan.

Finally, please make sure you have enough money to cover your expenses and the most important of all, to support your living and family.

2. Buy or rent?

Most of the time, it can be cheaper to rent a house rather than buying it. Of course, owning a house provides you with an indescribable sense of accomplishment (although technically, the bank owns the house until you have the loan in full).

Renting is practical when you don’t intend to stay for a long time, the rental rate is lower than the monthly loan installment, houses are ridiculously overpriced in the area you plan to live or you will inherit your parents’ house.

However, renting too has its downsides. Maybe you are unlucky enough to encounter ‘the landlord from hell’ who shirks from the responsibility of forking his or her own money to pay for the maintenance of the house.

Worse still, the landlord may bring a potential buyer to take a look at the house while you and your family can only stare in horror at the unwelcomed guests.

3. Should I sign up for a home mortgage insurance plan?

The only certainty in life is death. Grim as it may sound, every homebuyer needs to consider this fact, especially for those who are above 40 and planning to pay for their home loan installments for the next 30 or 35 years.s

Yes, you have to pay an additional sum to insure your home loan but at the same time, it bestows peace of mind to yourself and your loved ones.

Financial institutions in Malaysia offer two types of mortgage life insurance namely, Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA) and Mortgage Level Term Assurance (MLTA).

Please consult your friendly banker for further information on MRTA/MDTA and MLTA to help you choose which one is the most suitable for you.

4. Does the house have a good resale or rental value?
Photo: http://www.pexels.com

Some people buy houses for the sake of reselling or renting them. Nothing wrong with that as it is not illegal making money that way.

Since cheap houses are hard to find these days, please perform an evaluation to ensure the prices will not plummet in the long run.

Find out the resale and rental value of other houses within the same locality and other factors that may influence the prices such as the availability of amenities, public transportation system, or crime rates.

If the forecast looks gloomy, find a house somewhere else.

5. Do I really need to buy a house at the moment?
Photo: http://www.pexels.com

Most of the time, newlyweds get pretty excited about buying a dream house to shelter themselves and their yet-to-be-born children.

The trend has always skewed toward homeownership especially among those with a higher level of education.

Still, always think about the future because you may need to relocate due to a change in jobs or business locations.

Don’t simply jump into the bandwagon just because everyone else is doing it. The road lies ahead is full of uncertainties and you may be in for a rocky ride.

Categories
Analysis Condominium Mortgage Rental

Rentals near Schools

People are willing to pay 40% higher rental to be near school. This is the rental psf vs distance to school for Apt & Flat, housing for the poor in cities. See the orange line. RM1.40 near school vs RM1 psf if >3km from school Who says the poor don’t care about education?

If you look at condominium and serviced residence market, the distance to school has no bearing to condo rental rate. We suspect that the condo are for the singles and young families. In fact, serviced residence has direct relation with distance to school. the further, the higher. interesting.

Categories
Condominium Elite

Most Expensive Residences In Kuala Lumpur City Center

You probably belong to top 1% of socioeconomic pecking order if you can afford a place in the prime locations in Kuala Lumpur City Center. It is an address that belong to the high society.

Generally speaking, many of the exclusive residences in KL City Center are in close proximity to KLCC Twin Towers.

Units that has the view of KLCC Twin Towers, will fetch higher premium.

What we have charted here is price per square foot of the property. Those that are in the list are mostly serviced residence. Of course the size may vary from place to place with most of the recent development built with smaller sizes to keep the selling price per residence within the affordability.

Stay tune for more.

Categories
Analysis Condominium

Venice Hill Condominium – The Most Transacted Condo In Secondary Market

In the last 5 years, Venice Hill Condominium has the highest number of transaction in the secondary market compared to all other condominiums in Malaysia. The condo price has undergone a long period of volatility. The condo price went down after the launch in year 2000 from RM120 per square feet ( PSF ) to lowest point about RM 70 PSF per square feet. In 2013, after about 14 years, it recovered to launch price level and has since showed steady rise to RM 160 PSF.

Venice Hill Condominium overview

Venice Hill is a high density condominium nestled in Batu 9, south of Cheras. It sits on the uphill ad offers lush greenery and Kuala Lumpur city center skyline views. Venice Hill was developed by a bankrupt developer, Li-Foong Group and designed by Australian-based Ehrlich Layton International Architecture. All units were reported sold out within six months over five stages. It comprises of 12 apartment blocks. There are from 17 to 30 floors per block and each unit has built-up area ranging from 1,200 sf to 1,600 sf with 5 different floor plans to choose from. More details on the property:

  • Address: Persiaran Puteri 1, Taman Puteri, Batu 9, 43200 Cheras, Selangor
  • Date of completion: 2000
  • Tenure: Leasehold
  • No. of Blocks: 12
  • No. of Storey: 17 – 30
  • Built-up: 1,200 – 1,600 sf
  • Maintenance Fee: RM 0.15 psf
  • Rental: RM 1,200.00 – RM 4,300.00

Venice Hill price movement is quite peculiar. It is very unusual a for property price went down after launch. So we did further investigation online and found out that Venice Hill Condo was negatively featured in local news headline for quite a number of times. Below are news and blogs that talk about Venice Hill.

What can we learn?

We can sum it up the learning from Venice Hill to the following:

  • Highly transacted property in secondary market is not necessarily a good thing. It might indicates negative trend
  • Know your future neighbors before buying a property. You do not want
  • Research on ongoing issues and developer’s reputation
  • Investigate on workmanship, news on structural issues and pay site visit
Categories
Analysis Condominium Property Public Transport

Moving 5 train MRT stops away from a KL Sentral train station can strip more than RM500K off property prices

It is not hard to see why residential property located near to train stops is highly demanded. Among the benefits living near to MRT stops are convenience, cutting short travelling time and, saving money from paying tolls and car parking fee. However, like many other great things in life, it cost money.

As per our previous analysis suggests the closer the property to train station, the higher the price is (click here). Nevertheless, what is more important to home price is the distance of the nearest train stations to the city center. The closer the stations to the transportation hub of KL Sentral, much higher the price is. It carries far greater influence to home price. In these article we will focus on distance of the stations to the city center rather than the property distance to nearest train stations.

What we cover in this analysis is how property price within one kilometer to train station changes according to distance and time taken to travel to KL Sentral. For this purpose, we have divided MRT SBK lines into two parts- Muzium Negara to Kajang and, Muzium Negara to Sungai Buloh. As for now, we only cover property price near the stations of south-east bound MRT SBK line from Muzium Negara station to Kajang station.

*Note: Muzium Negara station is connected to KL Sentral station by short walking distance. First, let’s look at the overview of MRT SBK line.

MRT SBK (Sungai Buloh – Kajang)

MRT SBK line started its operation on the first alignment from Sungai Buloh to Semantan on Dec 2016. The entire alignment was completed and started its full operation from Sungai Buloh to Kajang on Jul 2017.

Source : https://www.mymrt.com.my

Highrise residential property price near MRT stops.

We have gathered the current asking price of residential properties within 1 kilometer radius from MRT stations for this analysis. In order to make comparison easier, we put all property units into a common denominator of 1,000 square feet unit and we calculated the median price. Why we use 1,000 square feet is because it is a reasonable size of a decent sized dwelling of 3 bedrooms.

Unlike Singapore or Hong Kong, Malaysia is not land-scarce nation, where options for housing aren’t that many. In Malaysia, we have many land banks and increased in transportation connectivity has given us many more options to choose from.

The analysis

As depicted by the chart below, it is clear that the price of property near MRT SBK stations is strongly correlated to the distance of nearest station to Muzium Negara.

Click chart to enlarge

Total travel time from Muzium Negara to Kajang is around 51 minutes and cost you less than RM4 for one way. Along the the train line, the prices reduce relative to the distance to Muzium Negara. You can rarely find 1,000 feet homes with price below RM800K around city center stops ( Muzium Negara, Merdeka, Bukit Bintang and Tun Razak Exchange ). As you travel further down south to Cochrane station the price drops to below RM700K. If you go further to another stop to Maluri, the price starts to drop around RM500K. All it takes is 19 minutes from Muzium Negara and cost you RM2.60 before discount for one way. If you don’t mind adding more time to your commuting, you can see 1,000 square feet homes price at below RM300K at some of the stops at the end of the MRT SBK line.

Everyone wants a better life. Being closer to work place is convenient and give you more personal time. The question is, how much additional premium would you pay to have that? Or, should I put it the other way around, how much additional time you can spend commuting in order to save a lot of money? We leave it to you to ponder. Good financial management or live the most convenient life or anything in between?

The map

Map below illustrates MRT SBK stops in the analysis. Click on the link for interactive map.

Map of property near train station. Click her to view dashboard

As such, that’s it for now. We are a social entrepreneurs that aims to help home buyers to make smarter decision. Our articles are data driven, factual and transparent. We promise to deliver you more in depth analysis. Please subscribe to our newsletter to receive future articles in your mailbox.

Categories
Condominium Elite Property Serviced Apartment

5 Exclusive Penthouses For Sale In Ampang Hilir – Mar 2019

Ampang Hilir, also known as Embassy Row, is an exclusive neighborhood in the heart of Kuala Lumpur. It is one of the most expensive area in Malaysia. It is the place for the high society. In this article we curate top 5 penthouse listings in Ampang Hilir.

Madge Mansion

https://www.iproperty.com.my/property/ampang-hilir/madge-mansions/sale-6509617/
  • Price : RM 11.67 million
  • Size : 8,019 sq. ft.
  • Bedroom : 4+1
  • Bathroom : 6

Madge Mansions is designed by Gamuda Land to exude an aura of luxury which is limited for the privileged few with discerning tastes. Each unit at Madge Mansions is articulately designed, maximizing living space for comfort, functionality and entertainment. All the en-suite bathrooms are very spacious, bright and airy, and beautifully designed with a touch of Zen.

The Concierge at Madge Mansions works from 8 am to 8 pm, and performs all kinds of amazing services for the residents of Madge Mansions – from booking your hotel stay to booking a private jet, from arranging concert tickets to arranging hospital check-ups, from dinner reservation to organizing a poolside party. It is almost like having the concierge service of Amex Centurion Card, right at the door step of your residence at Madge Mansion.

The 50 meter lap pool is beautifully designed and is a salt-water pool, something which is a luxury in Malaysia today.

Brunsfield Embassy View

https://www.iproperty.com.my/property/ampang/brunsfield-embassy-view/sale-6965545/

Price : RM 9.75 millions

  • Price : RM 9.75 million
  • Size : 7,500 sq. ft.
  • Bedroom : 4+1
  • Bathroom : 5

Covered Parking, Gymnasium, Playground, Swimming Pool, 24hr Security

Nobleton Crest

https://www.iproperty.com.my/property/ampang-hilir/nobleton-crest/sale-6785487/
  • Price : RM 6 million
  • Size : 5,833 sq. ft.
  • Bedroom : 4+1
  • Bathroom : 6

Nobleton Crest is the latest luxury development to make a mark in the distinguished Ampang Hilir postcode. Developed by Wing Tai Asia, the freehold apartment is set to nestle in the midst of lush and mature green leafy trees in the serene upper class Kuala Lumpur neighborhood, despite being minutes away from bustling Jalan Tun Razak and Jalan Ampang.

Emphasizing on quality, rather than quantity, Nobleton Crest offers a limited number of 25 individually cared for units. Each apartment unit are the brainchild of intelligent architecture and innovative interior designers who insist on not sparing the minute details. Therefore, every haven has an expansive and open living and dining area with airy space, complemented by 3’ x 3’ slab cut imported white marble flooring in living, dining, entertainment areas, powder room and all bathrooms. Meanwhile the bedrooms are decked with white oak timber flooring.

The bathrooms in Nobleton Crest are fully fitted with Kohler sanitary wares and fittings, vanity cabinet, toilet accessories, reflective mirror and tempered glass screen(s), ensuring the residents comfort while getting ready for a day or night out. Hot water system is installed in the dry and wet kitchen, powder room and all bathrooms, except maid room to ensure comfort and convenience.

Dedaun

https://www.iproperty.com.my/property/ampang-hilir/dedaun-condominium/sale-5965866/
  • Price : RM 5.8 million
  • Size : 7,128 sq. ft
  • Bedroom : 4+1
  • Bathroom : 6

Dedaun is a low rise development of 38 limited edition luxury residences intimately set in two interlocking ‘L-shaped’ blocks encircling an inner courtyard. Dedaun exhibits discreet simplicity, a perspective of luxury living with spacious living room that flows seamlessly into dining, dry kitchen with exquisite white marble floor.

Spectacular rooms with 3 metre ceiling height, 2.7 metre indoor balcony, with 270 degree view and admit natural light and fresh air. Thicker walls ensure better sound insulation, privacy and accommodates luxurious suites, walk-in wardrobes finished with designer cabinetry.

Amarin Wickham

https://www.iproperty.com.my/property/ampang-hilir/amarin-wickham/sale-6510948/
  • Price : RM 4.75 million
  • Size : 7,128 sq. ft
  • Bedroom : 4+1
  • Bathroom : 5

Low density of 21 units, with rooftop private pool, 4 car park bays, walking distance to ISKL new international school, prestigious location in Taman U Thant, Embassy Row, Ampang Hilir

If you need more options, please click here to view.

That’s all for these month selected high-end property and please subscribe to our newsletter to receive future news in your mailbox.

Categories
Analysis Condominium Elite Property Serviced Apartment

The Neighborhoods Of Kuala Lumpur & Selangor, And How Much You Need To Earn To Own A Home

Neighborhood and addresses greatly influence property prices. Your address is a status symbol and gives others perception that you belong to certain socio-economic group. Isn’t this the reason why we often ask someone when we meet them, right after we learn their name – “where do you live?”.

To many discerning buyers, neighborhood plays important decision point on where to buy their houses. Great neighborhoods will make you rub shoulders with the elites and it might turn into business opportunity. Great neighborhoods most likely offer good amenities such as good schools for your children, exclusive community malls, public transportation and lifestyle that fits the elites.

As Malaysia economy progresses, the income level rises with it. Consequently, there are more people that can afford to buy homes with exclusive addresses. This has been driving the demand. In order to fill up the demand, housing developers have been building high-end condominiums and serviced residence aggressively.

Fueled by the availability of credit, low interest rate environment and increased transportation connectivity Malaysia has seen a housing boom that stretch to more than a decade. We have seen a rapid increase in supply of high end high-rise property everywhere. To certain extend it has lead to oversupply in certain areas. So, buyers please be vigilant in this overhang market as it is buyers market, and you deserve a bargain.

The most exclusive addresses

We illustrate below top 20 most expensive neighborhood in Kuala Lumpur and Selangor. Jalan Ampang Hilir, Bangsar, Bukit Tunku, KL City Center, Damansara Heights and Mont Kiara stand out to be the most elite addresses in Malaysia. You can hardly find mid-size property priced 1.25M and below. Furthermore, the built up size of the property in these areas are relatively larger than the rest. In term of income level, the neighborhood belongs to people or family with monthly income of RM 20,000 and above.

KLCC View (Kuala Lumpur City Center)

The median price and qualifying income bracket for each neighborhood

Chart below shows the expected monthly income that you need to earn if you want to own a home in respective areas.

In this analysis we are using asking price and have excluded super house with value more than 5 millions. For installment and salary calculation, we are using prudent financial rule that 1/3 of income should be for housing need. Further assumptions made are loan duration of 25 years and housing loan interest of 4.5%.

Kuala Lumpur, Putrajaya and Selangor median price by neighborhood

Below is the table format of the neighborhood data. We have included built up size and estimated monthly installment as well.

[table id=1 /]

We hope you get good insights form this article and as a sign of encouragement for our work, please follow our social media or subscribe to our newsletter.

Categories
Condominium Property

Sri Putramas 3 (Royal Regent) Condominium Price Drop

We monitor asking price and transacted price movement for property in Malaysia and found put that some developments prices are under pressure. Sri Putramas 3 is one of it.

Asking Price

Here is the summary of Sri Putramas 3 asking price:

  • Number of units on sale is more than 100
  • Average asking price 700K
  • Average asking Price RM 530 per square feet
  • Developer : Mayland
  • Completion Year : 2013
  • Number of units : 654
  • Maintenance Fee Per Square Feet : RM 0.35
  • Developer Interest Bearing Scheme : Yes

From Nov 2018 to Dec 2018, asking price of for Sri Putramas 3 has drop. Of those property listing that drop their prices, the average drop is 7% from the previous month.

Transacted Price

Chart below, illustrates transacted property price. Price and number of units for the development peaked in 2014 and decrease thereafter.

Like many property that was financed under developer interest bearing scheme, Sri Putramas attracted speculators which have the intention to flip the property upon completion or after expiry of loan lock-in period . Can Putramas sustain price per square feet above RM500 ? Interested to know? Subscribe to our newsletter for future updates.

Categories
Condominium Property Rental Serviced Apartment

Overview Of Rental Price Per Square Feet For Residential Property In Malaysia

It is important to have the right set of market number to guide you as a reference when making decision before you rent or buy property for rental investment.  By knowing what is the average price per square feet for the same property type in the same location with similar facilities and amenities helps you to filter worst deal quickly from your search list. This should help you narrow down the pool of your selection to smaller list of good deals to search.

Charts and data provided here are for industry wide number and are not representing any specific location or development. This should serve as guide only as the numbers varies based on many other additional factors. Nevertheless, it should give you a good intuition of what is happening in the property market.

Histogram shows asking rental price per square feet of homes to rent. Condominiums and serviced residence are the type of properties that has the highest available number to rent. They also command the highest rental price per square feet in the region of 2 RM per square feet and 3.1 RM per square feet respectively. Landed property such link house and bungalow & semi-d  ask for lower rental price per square feet generally lower in term of supply.

Notes: Rental price per square feet is defined as asking rental price divided by built up per square feet.

House rental per square feet by property type in Malaysia

Rental Price Per Square Feet By Type Of Property

Asking rental price per square feet for landed property is about half of non-landed property.  Highrise, especially condominium and serviced residence  per square feet is mostly higher due to the facilities available and located nearby train stations, malls, shops, schools and workplace.
Table - Highrise house rental per square feet by property type in Malaysia
Table - Landed house rental per square feet by property type in Malaysia

Rental Price Per Square Feet Vs. Built Up Size (Square Feet)

We found something interesting by comparing built up size and rental price per square feet as per charts below.  The trend of rental price per square feet is higher for smaller unit of the highrise (condominium, service residence, apartment and flat). It was a trend in the last couple of years that developers have been building smaller size units of highrise to keep the property selling price lower. Their aim is to make the properties affordable to a wider middle upper income segment of buyers between 400K to 800K as the selling price per square feet has increased significantly (property price = price per square feet x builf up size). These properties are typically built at prime areas and most of it are nearby train stations, malls and business centers.

Generally, for landed property, rental price per square feet is relatively similar across all built up size with exception to bungalow and semi-d type where data is showing that for built up of 3,000 square feet and above is asking for significantly higher rental price per square feet. We have found out that for  3,000 square feet and above bungalow and semi-d, the ultra rich society are willing to pay premium for the exclusive units in the affluent neighborhoods.

Highrise house rental per square feet and build up size by property type in Malaysia
Landed house rental per square feet and build up size by property type in Malaysia

Map Of Highrise Property By Rental Price Per Square Feet

Note: Size and color of the circles represent price per square feet.Distribution of Malaysia Rental price per square feet

Map Of Landed Property By Rental Price Per Square FeetDistribution of Malaysia Rental price per square feet

 

This is just an overview of rental property price. Please subscribe to our newsletter to get more detail insights on which areas or property development that offer great deals.