The median sale at KLCC, Kuala Lumpur, Malaysia is RM 1,400,300

RM 1,001,000
RM 811 (PSF)
RM 1,400,300
RM 980 (PSF)
RM 2,300,000
RM 1,360 (PSF)


Known as ‘The City Within A City’, Kuala Lumpur City Centre (KLCC) is the pride and joy of Malaysia. Like its namesake, it is conveniently located right in the heart of Kuala Lumpur where the city is always abuzz with activities – be it night or day. The lights in the city burn around the clock, as KLCC is the focal point for tourist attractions and commercial, entertainment and business districts within the spaces of its many landmarks, shopping malls, office buildings and hotels that suit every class of society.

The city was designed in such a way as to ease its entry as much as possible, for both tourist and residents of Kuala Lumpur and its neighbouring areas. Plenty of public transportation options are available – connecting the city to many areas around Kuala Lumpur and suburbs via train, buses and taxis. There is a train station located directly within KLCC by the Kelana Jaya Line – the KLCC light rail transit (LRT) station - making it the most convenient access into the city. The same station also has a dedicated taxi stand with a coupon system for easy payment.

In 2018, a free bus service – Go KL City Bus – similar to the Smart Selangor was introduced in the KL city area (around the Central Business District) plying seven routes or lines. Specifically, the green line serves the KLCC-Bukit Bintang route.

With the Petronas Twin Towers as the focal point, KLCC serves as the country’s major financial and business hub and is home to many Grade A office buildings that house multinational corporations (MNCs) and large corporations. Among these buildings are Petronas Tower 3, Menara ExxonMobil, Menara Carigali and Menara Maxis.

National oil and gas company, Petronas’ real estate arm, KLCC Property Holdings Bhd alongside KLCC Real Estate Investment Trust (KLCC REIT) own and manage several offices, retail and hotel properties in the KLCC area.

Those with cars can enjoy the ease of AKLEH (Ampang-Kuala Lumpur Elevated Highway) which links Ampang and a major region of Klang Valley straight into KLCC’s basement parking. Other main road access points include the SMART Highway, Putrajaya-KL Highway, MEX Highway (Maju Expressway) and Jalan Sultan Ismail, to name but a few. Of course, as the city is filled with all sorts of attractions, some would prefer to walk and take in the scenery on foot. The KLCC-Bukit Bintang elevated walkway was built for exactly that purpose, providing a direct and safe passage between KLCC and Pavilion (one of the major shopping malls in Kuala Lumpur) that is protected from the elements of nature, with a number of convenient exit points throughout the walkway.

Prime and central location

It is not surprising that KLCC is home to the country’s many high-end residentials due to its strategic location. Examples include Binjai On The Park, Marc Service Residence, SoHo Suites, ViPod Suites, The Troika, St Mary Residences. And this makes it suitable dwelling choices for the affluent and expatriates.

Prices of serviced apartments in KL city area (Hampshire Residences, Pavilion Residences, Platinum Suites) showing a slight downward trend (5% to 14%) due to high supply, according to the Valuation and Property Services Department (JPPH) 2019 Property Market Report.

Although overall prices are stable, the significant new supply has caused luxury serviced apartment owners to cut asking prices. In terms of serviced apartment transactions, KL contribution most to the national market with 48.5% or 2,029 transactions in 2019.

Rental market was generally stable owing to great location. In general, serviced apartments and SoHo averaged rental yield are between 1.4% and 10.4%, the report said.

High-rise properties also have investment value especially projects in prime locations such as KLCC. As shown in Savills’ data as of late 2018, condominiums in the KLCC area (such as Corinthian, Marc Service Residence, Park View Service Apartment and Stonor Park) had an average selling price of RM500,000 in 2001. Subsequently, their transaction prices exceeded RM1 million in 2008 and reached RM1.12 million in 2017, equivalent to a capital appreciation of 123%.

In 2018, MIEA’s Lim Boon Ping said KLCC and other areas in KL city such as Mont’Kiara and Bangsar are mature and established areas. The housing prices in these locations are perceived as at high levels currently (late 2018) but he believed the uptrend will continue as these locations are major commercial hubs.

MIP Properties’ Freeman Woo pointed out that the KLCC residential property market has dipped since hitting their peak in 2013. Price growth of non-landed residential property on the secondary market has slowed, thus offering investment opportunities to cash-rich investors.

However, for owners who are looking to realise their investments, the near term will not be a good time as the asking prices in the secondary market have declined.

KLCC has strong advantages that could support future price growth and demand, Woo said. “For KLCC, which is in the capital city of Malaysia, it will definitely be the first choice when foreigners consider visiting Malaysia or to settle down in this country. In addition, land scarcity is also another factor that will support price growth,” he elaborated.

As for commercial properties, the office rental market remained stable in 2019. For example, the Petronas Twin Towers charged the highest rental ranging between RM9 to RM12 per sq ft. As for retail, Suria KLCC sustained its prominence, fetching the highest rental range from RM10.31 to RM192 per sq ft for the retail category.

Amenities and Facilities

Being the capital city of Malaysia, KLCC is filled with awe-inspiring and breath-taking landmarks, and the most prominent one being the KLCC Petronas Twin Towers – being the tallest twin towers in the world. At the foot of the tower houses Suria KLCC shopping centre which offers a wide selection of luxurious brand and a view of the KLCC Park.

The city is also famous for its iconic Kuala Lumpur Tower, known for its revolving restaurant and captivating view of the entire Kuala Lumpur. Other popular attractions nearby include Petaling Street (also known as Chinatown), Brickfields (Little India), Aquaria KLCC, Central Market and KLCC’s close proximity to the Bukit Bintang shopping belt that houses several notable malls such as Pavilion Shopping Centre, Lot 10 and Berjaya Times Square means there is no shortage of retail offerings – enough to satisfy any shopaholic.

The KLCC area also has a 1.3 million sq ft convention centre known as the Kuala Lumpur Convention Centre. The total function area is around 216,000 sq ft. The convention centre is directly connected with the Traders Hotel. The Impiana Hotel, which is owned and operated by KLCC Properties, developer of the KLCC area, is connected via a walk bridge.

This busy city never sleeps, and its populations can always occupy themselves with plenty of nightlife activities – be it for food, entertainment or simply sight-seeing, as the city ‘fully blooms’ with millions of lights in the absence of sunlight. One can find no shortage of food, as there are plenty of ‘mamaks’ that are open for 24 hours, food stalls with every sort of delicacy, and of course the thousands of restaurants with various culinary options. For the lively ones, there are dozens of bars and clubs along Changkat, Jalan Sultan Ismail, Jalan Ampang, Jalan Doraisamy and Jalan P.Ramlee that turn the streets alive with its merry atmosphere.

For the travellers that are passing by, or simply for a weekend get-away, KLCC is dotted with hotels that will suit every budget. Most hotels are merely a stone’s throw away from the heart of the city – the closest and luxurious being the Mandarin Oriental Hotel, Trader’s Hotel, Grand Hyatt Hotel and Impiana Hotel, as they are within the vicinity of KLCC Petronas Twin Towers.

KLCC is truly a city of wonder, constantly providing new excitement with its endless development and constructions. Owing to its many perks and advantages, properties in KLCC are some of the most sought after in Kuala Lumpur – by the expatriates and locals alike –even though they are well-known for their high price.

Boost from upcoming Putrajaya MRT Line (from The Edge Malaysia 17 Aug 2020 issue)

KLCC is expected to get an added boost with the Putrajaya Line, the second line of the Klang Valley MRT project. Previously known as the Sungai Buloh - Serdang - Putrajaya Line, the Putrajaya Line is set to enhance the property values in the areas and developments near it, say property consultants. 

Phase 1 of the MRT line is due to be completed in July 2021 and Phase 2, in 2023. The MRT line will serve as a corridor for about two million people between Kwasa Damansara and Putrajaya, with 35 operation stations (of which 11 are interchange stations) and an overall alignment of 52.2km.

Savills Malaysia director of research and consultancy Amy Wong opines that the Putrajaya LIne will boost the level of activity in KLCC, Ampang Park, KLCC East, Conlay and TRX. "The conenctivity will improve with MRT Line 2, which connects TRX (integrated with MRT Line 1), the Jalan Conlay area (which will have several exits), Persiaran KLCC and Ampang Park. These areas are currently not pedestrian-friendly. However, walkability will improve upon completion of the MRT Line 2," she says. 

"The KLCC area is currently served by the LRT Putra Line along Jalan Ampang while MRT Line 1 serves the Bukit Bintang area, TRX and the Cochrane/Maluri area. With the improved walkability, it is expected that higer footfall will bring traffic to the commercial developments in these areas."

In addition, the level of liveability will be improved in these areas. "The areas will bemore liveable (with the integration of commercial, residential, public rail connectivity, amenities and facilities). Take the Jalan Conlay area, which is predominantly residential but surrounded by commercial precincts such as KLCC and Bukit Bintang. Once the connectivity by rail and walkways is ready in this location, it should attract more homebuyers and investors," says Wong. 

LaurelCap Sdn Bhd executive director Stanley Toh concurs that the areas will become more attractive because of the Putrajaya Line. "Having the convenience of an MRT station close by gives a premium to the developments because in the long run, occupants are able to save time and money," he says.

"From the perspective of owners of land near an MRT station, their land value will have a premium because the local council will give additional plot ratio and a reduction of car park bay requirements if their land falls under the category of transit oriented development (TOD), that is, within 500m of an MRT or LRT station."

Meanwhile, Metro REC Sdn Bhd head of agency Terence Yap opines that proeprty values in the areas will go up even more if plans for the high-speed rail (HSR) are realised. "Businesses in the KLCC, Ampang Park, KLCC East, Conlay and TRX areas will benefit from the new Putrajaya Line. We anticipate higher human traffic and potential spending in these areas," he says.

"Also, employment opportunities in retail and offices will improve tremendously for potential candidates living along Line 2 [from areas as far as Putrajaya Sentral or Damansara Damai with the direct connection]. These areas will definitely get a lift as the economic and financial centre of the coutnry if the proposed HSR project between Malaysia and Singapore is revived and carried out, as the strategic Bandar Malaysia main rail transport hub is the meeting point of MRT Line 2 and the HSR."

Steady Values

The property values of developments in KLCC, Ampang Park, KLCC East, Conlay and TRX have been steady in the last few years, despite the economic downturn and disruptions. "The ratio of foreign to local buyers for newly launched projects in the KLCC area is roughly 70:30," says Savills' Wong.

"The prices of existing high-rise residential properties are in the range of RM1,000 to RM2,000 psf. The gross rental yield in the KLCC area is currently sub-4%. In tandem with the slow economy, the prices and rents of high-rise residences in the KLCC area noticeably declined in 1H2020 compared with last year."

According to Toh, the homebuyers and investors targeted in KLCC, Ampang Park, KLCC East, Conlay and TRX are those from the upper and upper-middle class as well as foreigners. "The properties in these areas are notably expensive. The majority of buyers would be investors," he says. 

The demand for non-landed residential or commercial developments in these areas is higher than that for landed residential projects. "There are hardly any landed properties in those areas. The vast majority of properties are high-rise, non-landed ones. At the moment, demand is still pretty much stagnant and the vast majority of purchasers are either foreigners or local investors (compared with owner-occupiers)," notes Toh.

For non-landed residnetial developments in KLCC, Ampang Park, KLCC East, Conlay and TRX, the average rent ranges from RM2.50 to RM4.50 psf per month, he says, adding that the yield ranges from 4.5% to 5.5% per annum.

In terms of price, the average price psf for non-landed properties in KLCC, Ampang Park, KLCC East, Conlay and TRX may vary. "The new projects under construction or just launched - such as 8 Conlay, E&O Residence, TRX Residence, Core Residence and Embassy Garden - range from RM1,700 to RM3,000 psf. Those that have been completed in the last 10 years - such as Troika, Suria Stonor, Ampersand, Trillion, The Pearl and Horizon Residence - range from RM700 to RM1,300 psf.


While property values in KLCC, Ampang Park, KLCC East, Conlay and TRX have been consistent, there are still a few challenges. "Most of the land use in these areas - such as the Embassy Row area in Ampang Hilir, U-Thant and Imbi, Bukit Bintang - has been converted to non-landed due to the high plot ratio given by the local authority. Major developers are building up their land bank in these areas," says Metro REC's Yap. 

"The demand fr non-landed property has taken a dive in recent years due to the high existing supply and new supply in the market. But we foresee the take-up rate for non-landed properties to increase with the completion of the Putrajaya Line."

He maintains that there is a significant disparity in the pricing of developments there. "There is a huge mismatch in pricing between new and existing supply. New launches can go for RM1,500 to RM2,000 psf on average, whereaas existing supply can go for a low as RM600 psf despite being located less than 100m away," he notes.

"The average price for existing developments hovers around RM800 to RM900 psf, generating a yield of 3% to 3.5%. Rent has also been on a downtrend, especially during the pandemic. Some tenants were asked to leave the country and landlords are more flexible on rent."

Savill's Wong says, "The residential property market in KLCC, Ampang Park, KLCC East, Conlay and TRX areas is highly dependent on foreigners and inbound tourists. The lack of local home occupiers in the KLCC area is due to high property prices. The extensive rail connectivity will offer more options to homebuyers."

KLCC, Ampang Park, KLCC East, Conlay and TRX are also notable for their residential oversupply. "The oversupply of residential properties and low occupancy in the surrounding developments are due to the global economic crisis," says Yap.

The demand for high-rise residential and commercial projects in KLCC, Ampang Park, KLCC East, Conlay and TRX has also dwindled. "Due to the Covid-19 pandemic, the demand for residential properties has taken a hit. In terms of the commercial segment in these areas, there is a huge supply of office space given the new norm of working from home and a massive reduction in demand for office space. The new norm of online shopping has also led to retailers struggling to keep afloat," Yap says.

Apart from that, traffic congestion and noise pollution are concerns as well, says Toh.

Future Outlook

Despite the challenges and disruptions, property demand and values in KLCC, Ampang Park, KLCC East, Conlay and TRX are expected to remain solid with the addition of the Putrajaya Line.

"We are optimistic that prices will remain stable and demand for properties will increase in these five areas after the completino of the MRT line and post-economic recovery. We need to create value for investors to put their money in. We foresee that the properties in these areas will be safe, sustainable, innovative and connected," says Yap.

"Millenials wil form the majority of our population - and they are more likely to use public transport. In addition, land available for developent is scarce along those stations. As a result, property values in those areas will increase." says Toh.

He advises investors and homebuyers to take the opportunity to seek out good deals. "The current overall sentiment is weak due to the pandemic. It is a good time to look for projects that are within walking distance of the stations," he says.

Past Transactions

Project / TownShipsTypeMedian Price PsfMedian PriceFiled Transactions
Soho SuitesHotel/Service ApartmentRM 1,255RM 1,008,81398 Transactions
ViPod Residences (6 Kia Peng)Hotel/Service ApartmentRM 1,527RM 1,592,13495 Transactions
Hampshire ResidencesHotel/Service Apartment,Condominium/ApartmentRM 1,024RM 1,643,67289 Transactions
Dua ResidencyCondominium/ApartmentRM 764RM 1,888,58769 Transactions
The OvalHotel/Service ApartmentRM 1,060RM 4,808,29667 Transactions
Parkview Service ApartmentHotel/Service ApartmentRM 1,051RM 556,82663 Transactions
Banyan TreeHotel/Service ApartmentRM 2,022RM 3,050,13961 Transactions
Fraser Place (Lot 163)Hotel/Service Apartment,Condominium/ApartmentRM 1,227RM 855,36351 Transactions
Quadro ResidencesHotel/Service ApartmentRM 1,167RM 2,399,34149 Transactions
Vortex SuitesHotel/Service ApartmentRM 2,573RM 1,226,55848 Transactions

Rent and Sale Prices in KLCC

BedroomsSale PriceMonthly RentRental Yield
1RM 1,263,047RM 3,5983.42%
2RM 1,651,868RM 4,5363.3%
3RM 2,752,751RM 7,3493.2%
4RM 3,420,314RM 9,4493.32%
5RM 5,219,282RM 11,8712.73%

Price per Square Foot

SectorPrice Psf (Non Landed)Price Psf (Landed)
Area AverageRM 1,043RM --
State AverageRM 475RM 509