City & Country: Condo values holding up

The Klang Valley high-end condominium market, though improving, is quiet against the current enthusiasm over landed homes.

Real estate agents and negotiators contacted by City & Country say high-end condo secondary transactions remain slow despite the improving economy.

However, while there may be fewer prospective investors, sellers are not dropping prices either. Rather, condo prices in some areas have gone up, albeit gradually, from 5% to as much as 15%, according to Chester Properties Hartamas head of project development and property David Lye.

“There are no more value buys in the prime areas,” Lye tells City & Country.

Starcity Property negotiator Brian Gerald, who specialises in Mont’Kiara and Petaling Jaya properties, says low expatriate numbers have left vacant many units in some areas. He notes that units in just completed projects in good locations are enjoying capital appreciation of 20% to 30%.

There may be little action seen on the ground, CB Richard Ellis (Malaysia) Sdn Bhd managing director Allan Soo told participants at The Edge Investment Forum on Real Estate 2010 in April, but expatriates are returning to Malaysia although not all are willing to pay high rents.

Soo said there are now 9,444 high-end condos in Mont’Kiara and 5,671 in the Kuala Lumpur city centre. The supply will be expanded in a few years by another 3,853 units in Mont’Kiara and 4,769 in the KL city centre.

While Soo had expected a major drop in values during the downturn, such as those in Singapore and Hong Kong, it didn’t happen. “We experienced a mild drop but prices in places like Bangsar even went up. Mont’Kiara saw a minor drop, but prices at some projects are still relatively high,” Soo said.

In Kuala Lumpur’s affluent Bangsar, unfurnished units at One Menerung are now going for about RM950 psf.

Read on for current asking prices of condominiums in the Klang Valley.

Note: All the properties mentioned below are freehold unless stated otherwise.

BANGSAR/BUKIT PANTAI
• At One Menerung, behind Bangsar Shopping Centre, an unfurnished corner unit is going for RM3.11 million. It has a built-up of 3,282 sq ft, 4+1 bedrooms and 6 bathrooms.

• Another unfurnished unit at One Menerung is going for RM3.12 million. It has a built-up of 3,282 sq
ft, 3+1 bedrooms and 4 bathrooms.

• At Sri Wangsaria on Jalan Ara is a partly furnished unit going for RM1.05 million. It has a built-up of
2,250 sq ft, 3+1 bedrooms and 3 bathrooms.

• At Bangsar Peak in Jalan Medang Serai, a partly furnished unit is going for RM3.39 million. It has a
built-up of 3,570 sq ft, 4+1 bedrooms and 6 bathrooms.

• Another partly furnished unit at Bangsar Peak is going for RM3.57 million. It has a built-up of 3,570
sq ft, 4+1 bedrooms and 6 bathrooms.

• A fully furnished Th e Loft Bangsar unit on Jalan Ara is going for RM4 million. It has a built-up of 4,000 sq ft, 4+1 bedrooms and 4 bathrooms.

• A fully furnished unit at Bayu Angkasa condominium on Jalan Medan Kapas, Bukit Bandaraya
is going for RM650,000. It has a built-up of 1,600 sq ft, 3 bedrooms and 2 bathrooms.

• At the low-rise Palmyra Bangsar on Jalan Medang Tanduk, a fully furnished unit is going for RM3.25 million. It has a built-up of 3,800 sq ft, 4+1 bedrooms and 6 bathrooms.

• Another fully furnished Palmyra Bangsar unit is going for RM3.35 million. It has a built-up of 3,628
sq ft, 4+1 bedrooms and 6 bathrooms.

• A partly furnished leasehold Zehn Bukit Pantai unit on Jalan Bukit Pantai is going for RM1.42 million. It has a built up of 1,905 sq ft, 3 + 1 bedrooms and 4 bathrooms.

• Another partly furnished leasehold Zehn Bukit Pantai unit is going for RM 1.3 million. It has a built-up of 1,905 sq ft, 3+1 bedrooms and 3 bathrooms.

• A third partly furnished leasehold Zehn Bukit Pantai unit is going for RM1.79 million. It has a built-up of 2,644 sq ft, 3+1 bedrooms and 4 bathrooms.

KUALA LUMPUR CITY CENTRE
• K Residence on Jalan Ampang has an unfurnished unit that is going for RM3.04 million. It has a built-up of 2,739 sq ft, 3+1 bedrooms and 4 bathrooms.

• At Park Seven on Jalan Kia Peng, a partly furnished corner unit is going for RM4.3 million. It has a built up of 4,426 sq ft, 3+1 bedrooms and 4 bathrooms.

• At ONE KL on Jalan Pinang, is a partly furnished unit going for RM4.27 million. It has a built-up of
3,285 sq ft, 4+1 bedrooms and 6 bathrooms.

• At St Mary Residences on Jalan Tengah, a partly furnished unit of 1,131 sq ft is going for RM1.39
million. It has 2+1 bedrooms and 3 bathrooms.

• At Binjai Residency on Jalan Binjai, a partly furnished unit is going for RM1.96 million. It has a built-up of 2,208 sq ft, 3+1 bedrooms and 5 bathrooms.

• At Suria Stonor on Jalan Stonor, a partly furnished unit is going for RM2.8 million. It has a built-up of 3,303 sq ft, 3+1 bedrooms and 5 bathrooms.

• At Stonor Park, also on Jalan Stonor, a partly furnished unit is going for RM2.1 million. It has a built-up of 2,314 sq ft, 4+1 bedrooms and 5 bathrooms.

• At 2 Hampshire condo in Persiaran Hampshire, a partly furnished corner unit is going for RM2.65
million. It has a built-up of 3,316 sq ft, 4+1 bedrooms and 5 bathrooms.

• At Dua Residence on Jalan Tun Razak is a partly furnished unit going for RM1.85 million. It has a
built-up of 2,098 sq ft, 3 bedrooms and 3 bathrooms.

• At Marc Residence on Jalan Pinang, a fully furnished unit is going for RM752,400. It has a built-up of 627 sq ft, 1 bedroom and 1 bathroom.

MONT’KIARA
• At MK10 on Jalan Kiara 1 is an unfurnished unit going for RM2.3 million. It has a built-up of 3,662 sq ft, 4+1 bedrooms and 4 bathrooms.

• At Ceriaan Kiara on Jalan Kiara 3 is an unfurnished unit going for RM915,000. It has a built-up of 2,036 sq ft, 3+1 bedrooms and 4 bathrooms.

• At Kiaramas Ayuria on Jalan Kiara 9, a partly furnished unit is going for RM960,000. It has a built-up of 1,722 sq ft, 3+1 bedrooms and 4 bathrooms.

• At Gateway Kiaramas on Jalan Kiara 5, a partly furnished unit is going for RM430,000. It has a
built-up of 743 sq ft, 1 bedroom and 1 bathroom.

• Another partly furnished unit at Gateway Kiaramas is going for RM880,000. It has a built-up of
1,658 sq ft, 3+1 bedrooms and 4 bathrooms.

• At Mont Kiara Meridin on Jalan Duta Kiara, a fully furnished unit is going for RM800,000. It has a
built-up of 1,787 sq ft, 3+1 bedrooms and 4 bathrooms.

• Another unit at Mont Kiara Meridin is going for RM835,000. Unfurnished, it has a built-up of 1,985
sq ft, 3+1 bedrooms and 4 bathrooms.

• At Verve Suites on Jalan Kiara 5, a fully furnished unit in Block A is going for RM537,600. It has a builtup of 672 sq ft, 1 bedroom and 2 bathrooms.

• Another fully furnished unit at Verve Suites Block A is going for RM680,000. It has a built-up of 827
sq ft, 2 bedrooms and 2 bathrooms.

• At Mont Kiara Bayu on Jalan Kiara 2 is a fully furnished unit that is going for RM650,000. It has a
built-up of 1,280 sq ft, 3 bedrooms and 2 bathrooms.

• Another fully furnished unit at Mont Kiara Bayu is going for RM430,000. It has a built-up of 1,068 sq ft, 2 bedrooms and 2 bathrooms.

• At Vista Kiara on Jalan Kiara 3, a fully furnished unit is going for RM450,000. It has a built-up of 1,400 sq ft, 3+1 bedrooms and 2 bathrooms.

PETALING JAYA
• At Ara Hill along Jalan PJU 1A/31, Ara Damansara, is a partly furnished unit going for RM1.3 million. It has a built-up of 1,927 sq ft, 3+1 bedrooms and 3 bathrooms.

• Another partly furnished Ara Hill unit is going for RM720,000. It has a built-up of 1,312 sq ft, 2 bedrooms and 2 bathrooms.

• A partly furnished duplex unit at Ara Hill is going for RM3.2 million. It has a built-up of 4,600 sq ft,
4+1 bedrooms and 6 bathrooms.

• At Desa Kiara on Jalan Damansara is a partly furnished penthouse duplex unit going for RM710,000. It has a built-up of 3,800 sq ft, 5 bedrooms and 4 bathrooms.

• Another partly furnished duplex penthouse at Desa Kiara is going for RM700,000. It has a built-up of 3,800 sq ft, 5 bedrooms and 4 bathrooms.

• A third partly furnished Desa Kiara unit is going for RM330,000. It has a built-up of 1,200 sq ft, 3+1 bedrooms and 2 bathrooms.

• A fourth partly furnished Desa Kiara unit is going for RM330,000. It has a built-up of 1,257 sq ft, 3+1 bedrooms and 2 bathrooms.

• At Riana Green on Jalan Tropicana Utara, PJU 3, is a fully furnished leasehold unit going for RM218,000. Th is studio apartment has a built-up of 518 sq ft and 1 bathroom.

TAMAN TUN DR ISMAIL
• At TTDI Th e Plaza is an unfurnished unit going for RM680,000. It has a built-up of 1,800 sq ft, 3+1 bedrooms and 4 bathrooms.

• In Pinggiran Kiara on Jalan Datuk Sulaiman 6 is a partly furnished unit going for RM475,000. It has
a built-up of 1,609 sq ft, 3 bedrooms and 3 bathrooms.

• In Kiara Park on Jalan Burhanuddin Helmi is a partly furnished unit going for RM490,000. It has a builtup of 1,330sq ft, 3 bedrooms and 3 bathrooms.

• At Kiara Park, a fully furnished penthouse is going for RM1.2 million. It has a built-up of 2,600 sq ft, 4 bedrooms and 3 bathrooms.

• In Th e Residence, a fully furnished unit going for RM2 million. It has a built-up of 3,443 sq ft, 4+1
bedroom and 5 bathrooms.

PUCHONG
• At Koi Legian in Taman Kinrara 5 is a partly furnished leasehold unit going for RM333,000. It has a built-up of 1,575 sq ft, 4+1 bedrooms and 3 bathrooms.

• At Kinrara Mas is an unfurnished unit going for RM248,000. It has a built-up of 1,091 sq ft, 3 bedrooms and 2 bathrooms.

• Another unfurnished Kinrara Mas unit is going for RM293,000. It has a built-up of 1,231 sq ft, 3 bedrooms and 2 bathrooms.

• A smaller Kinrara Mas unit, also unfurnished, is going for RM263,000. It has a built-up of 1,091 sq ft, 3 bedrooms and 2 bathrooms.

• At Desa Impiana in Puchong Prima is a partly furnished unit going for RM238,000. It has a built-up
of 1,068 sq ft, 3 bedrooms and 2 bathrooms.

CHERAS
• At Mentari Kondominium on Jalan Permaisuri 3 is a fully furnished leasehold unit going for RM280,000. It has a built-up of 1,025 sq ft, 3 bedrooms and 2 bathrooms.

• At Prima Midah Heights on Jalan Midah is a partly furnished unit going for RM415,000. It has a builtup of 1,476 sq ft, 4 bedrooms and 2 bathrooms.

• At D’Alamanda condo, off Jalan Cheras, is an unfurnished leasehold unit going for RM295,000. It
has a built-up of 1,093 sq ft, 3 bedrooms and 2 bathrooms.

• At Warisan Cityview on Jalan Cheras is an unfurnished leasehold unit going for RM250,000. It has a builtup of 910 sq ft, 3 bedrooms and 2 bathrooms.

• At Vista Perdana is a partly furnished leasehold unit going for RM210,000. It has a built-up of 1,001 sq ft, 3 bedrooms and 2 bathrooms.

• At Mont Bayu condominium, an unfurnished leasehold unit is going for RM288,000. It has a built-up of 1,135 sq ft, 3 bedrooms and 2 bathrooms.

• Another unfurnished leasehold Mont Bayu unit is going for RM230,000. It has a built-up of 830 sq
ft, 3 bedrooms and 2 bathrooms.

SEGAMBUT
• At Menara Duta 2 on Jalan Dutamas Raya is a partly furnished unit going for RM350,000. It has a built-up of 1,473 sq ft, 3+1 bedrooms and 3 bathrooms.

• At Rosvilla Condominium, a partly furnished unit is going for RM400,000. It has a built-up of 1,381
sq ft, 3+1 bedrooms and 2 bathrooms.

• Another partly furnished Rosvilla unit is going for RM670,000. It has a built-up of 2,468 sq ft, 4 bedrooms and 4 bathrooms.

• At Anggun Puri condo on Jalan Dutamas is an unfurnished penthouse going for RM457,800. It
has a built-up of 1,630 sq ft, 3+1 bedrooms and 3 bathrooms.

• Another unfurnished penthouse at Anggun Puri is going for RM509,800. It has a built-up of 1,790 sq ft, 4+1 bedrooms and 3 bathrooms.

• A third unfurnished penthouse at Anggun Puri is on the market for RM534,800. It has a built-up of
1,850 sq ft, 5+1 bedrooms and 4 bathrooms.

• An unfurnished Anggun Puri unit of 800 sq ft is going for RM216,000. It has 3 bedrooms and 2
bathrooms.

• An unfurnished 1,000 sq ft Anggun Puri unit is going for RM280,000. It has 3 bathrooms and 2
bedrooms.

This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 810, June 14-20, 2010