PETALING JAYA (May 22): Kuala Lumpur City Centre or KLCC is known as the country’s most expensive address, with current average price psf hovering above RM1,000 psf. However, based on transactions analysed by theedgeproperty.com, the average price psf of condominiums in the area was RM1,052 psf in 3Q2014, down 2.2% from a year ago.
For some, this may signal an opportune time to look out for some good buys in the area. Pricing depends on location and proximity to KLCC, views, unit size, age, branding and the developer. Those closest to the Petronas Twin Towers command a premium while those further away are generally priced lower.
Real estate consultants told The Edge Property that they don’t expect to see prices drop significantly despite the current challenging market environment, which they expect to pick up in the next half of the year.
For the full report, read the Cover Story in the May 22, 2015 issue of The Edge Property, the property pullout of The Edge Financial Daily here. Read the full pullout here. View the video. For a quick and brief analysis of the property market in KLCC:
PROPERTY SNAPSHOT Prices in KLCC stagnate
PROPERTY SNAPSHOT What’s affordable in KLCC?
PROPERTY SNAPSHOT What are developments priced in KLCC?
PROPERTY SNAPSHOT What’s hot in KLCC?
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