PROPERTY SNAPSHOT 2: What’s affordable in KLCC?

•    KLCC remains the most exclusive address in the country, with prices here reflecting the prestige of living in the heart of the city. 

•    Based on TheEdgeProperty.com’s analysis of transactions in the 12 months to 1Q2015, the average transacted price per square foot (psf) was RM1,167 psf in 1Q2015, while the average transacted price per unit was a cool RM1,605,000.

•    A breakdown of transactions by price range reveals the concentration of luxury condominiums around KLCC. A quarter of secondary transactions were for units priced over RM2 million. Another 24% of transactions were for units priced between RM1,000,001 – RM1,500,000. Only 30% of transactions were for units sold under the RM1 million threshold.

•    The most expensive project is The Troika, with an average price per unit of about RM3,025,000. This figure remains a mere guideline as unit sizes at The Troika vary widely. In the period reviewed, units here had transacted for prices between RM1.8 million to RM5.1 million. 

•    The Troika was developed by Bandar Raya Developments Bhd who had contracted the internationally renowned firm Foster + Partners as architects. When it was completed in 2011, the project became the tallest residential building in Malaysia, with one of the towers reaching 204m. However, this record is soon to be surpassed by the upcoming Four Seasons Place whose tower will reach 320m.

•    Next is Stonor Park (RM2,928,000) by Beneton Properties Sdn Bhd. Completed almost a decade ago in 2006, this exclusive residence consists of only 71 units. With units measuring between 2,000 square feet (sq ft) to 8,000 sq ft, prices here remain only for the wealthy.

•    In the review period, the most expensive unit transacted in KLCC was for a penthouse unit here. The 6,329 sq ft unit was sold for RM5.3 million in June 2014.

Click here to check out the price trends at The Troika.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.