Rented for: RM4,600 (RM6.41 psf)
Concluded by: Eugene Pang (REN 30525, 016-272 4228) of MIP Properties Sdn Bhd
When: November 2019
● Built-up size: 718 sq ft
● 1 bedroom and 1 bathroom
● Fully furnished
● Mid floor
● Facilities: Infinity pool, water jets, wading pool, gym, spa room, indoor Jacuzzi, function room.
● Several shopping malls, public transportation and night life at its doorsteps
Pavilion Suites Kuala Lumpur is a high-end freehold serviced apartment project right next to Pavilion Kuala Lumpur mall and facing Jalan Bukit Bintang. Pavilion Suites Kuala Lumpur was completed in 2018 by the Pavilion Group.
Located within KL’s Golden Triangle, the 51-storey, low-density development houses retail spaces, parking lots as well as 383 serviced residences spread over 38 floors.
The development is directly linked to the Petronas Twin Towers and Suria KLCC via the KLCC pedestrian bridge. It is within the Bukit Bintang shopping belt which offers several top-class shopping malls such as Pavilion KL, Starhill Gallery, Lot 10 and Fahrenheit 88.
Raja Chulan and Bukit Bintang Monorail stations as well as the Bukit Bintang MRT station are within walking distance from Pavilion Suites KL while the Free GO KL city buses are also available nearby.
Eugene Pang of MIP Properties Sdn Bhd, who found a tenant for the fully-furnished unit, said the tenant from the US liked that the units came with brand new and good quality furniture.
“The tenant was also very happy with the rental rate of RM4,600 per month, which is lower than market price,” added Pang, noting that the owner is a foreign property investor.
He explained that the owner had been waiting for a tenant for six months and hence was willing to rent it at that price. Pang reckons that competition for tenants is intense and it is not easy to secure a tenant there.
Based on EdgeProp.my’s data, as at end December 2019, there were 40 rental listings at Pavilion Suites KL asking for an average rent of RM6,990 per month or RM 8.28 psf. Meanwhile, there were 14 sales listings asking for an average price of RM2.95million or RM3,226 psf. There was no sale transactions in 2018 and 2019.