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Rental in Mont Kiara

Q: How much rental income do you expect for your property in Mont Kiara?

A: On average, the condominium market is RM3.00 psf and service residence at RM3.50 psf per month.

How much is the rental you are paying now? Are you paying below market?

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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.

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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.

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Joint Management Bodies (JMB) – The mini countries

Some of the rants from residents

JMBs – who’s monitoring them? They behave like a mini country, with a lord president residing over all matters of the residents (rakyat), an annual election, politics, they have borders, local police, local taxes and rules and regulations (laws).


Late payment of annual maintenance fees are charged an annual interest fee, with rates specified in the owner-developer residency 1000 page contract, signed in the year 1511. Location of individual contracts : unknown. Might be at Mama’s house, might be at Papa’s house. Which brings to the first question, are JMBs allowed to charge interest? Arent only licensed financial institutions allowed to charge interest? Yes, the contract, where is it? Is it in line with the governing laws of the country?


Next question, for major decisions concerning huge monetary commitments from owners, most JMBs use the AGM to get the final decision where people will obviously lobby for votes to favour their cause. Politics come into play where the numbers count so that the majority can oppress the minority. This is basic democracy rules. Majority will oppress the minority. And people with vested interest will rally their people to attend the AGM to get the desired results.


There is a case where the outcome of an AGM is that each owner are required to puke out blood and pay RM770 one time fee for the guard house upgrade which costs around RM300k. This decision is final and made during the AGM. And there is 10% annual interest on the RM770. Sounds a bit like oppression by the lord president and his hoodlums. The 10% interest, again, aren’t only licensed financial institutions allowed to charge interest? And for a decision this huge, shouldn’t a wider referendum be implemented rather than the normal AGM?


Main question persists, who is monitoring the mini countries (JMBs)? The relevant housing ministry : I can bet my last RM770 that they don’t even know about this, or have the will or process to implement any regulations. As for the local governments, they might have an idea about this. They should be a good point to start ranting to.