Many factors can affect the property market. In Malaysia, the Home Ownership Program in 2019 facilitated the growth of this sector and many expected this to spill over into 2020. However, this did not happen due to the global Covid-19 pandemic with the Movement Control Order enforced on the 18 of March.
Despite this, the property sector is still active. The News Straits Times reported that the Mah Sing Group Bhd received RM35 million worth of bookings during the Movement Control Order. With some government intervention, it is predicted that the property sector will once again be flourishing by 2021.
Property Appreciation Rate Malaysia
Updated quarterly, Malaysia’s Real Residential Property Price Index Growth averages at 2.885% from March 1989 to December 2019. An all-time high appreciation rate of 25.22% occurred in September 1991 while the lowest, -16.42 was in September 1998, during the 1998 economic crisis.
In KLCC, prices for residential properties continue to soar, with many residential developments here selling for more than RM2,000.00 per square feet. Current prices listed for property in KLCC in July 2020 on iproperty.com range up to RM3,800 per square feet.
Malaysia is Friendly to Foreign Investors
Malaysians are known to be a friendly bunch and Malaysia is a nation that is partial to foreign investors. This can be seen with Malaysia My Second Home (MM2H), a programme that allows foreigners to live in Malaysia for 10 years with a multi-entry social visit pass. Those who want to continue living here after 10 years may renew their pass.
MM2H participants are allowed to purchase an unlimited amount of residential properties. While the Covid-19 pandemic has created a backlog of applications due to the closing of borders, this will no doubt be resolved in the coming months. For more information on the MM2H program, head over to www.mm2h.gov.my
Why is KLCC Good for Property Investment?
KLCC is one of the most coveted locations in Malaysia. Property here is highly sought after and continues to appreciate despite the Covid-19 pandemic. Other reasons that make property in KLCC a good investment include its easy accessibility and good connectivity, in terms of both private and public transportation.
With many job opportunities in this area, there will always be people who are looking for a place to rent in this area. It is close to shopping malls where one will be able to purchase everything that they need and more. Restaurants and eateries are aplenty in this area. KLCC is also close to several international schools, hospitals and home to embassies and financial institutions.
Top 5 Properties in KLCC
Core Residence at TRX
Located in the TRX Financial Hub, Core Residence at TRX is a serviced apartment that is due to be completed in the fourth quarter of 2022. Developed by CCCG, there are a total of 580 units spread across two high rise towers of 50 floors.
Core Residence at TRX strategic location means that it is easily accessible via main roads and major highways such as the MEX Highway, Jalan Tun Razak, and Jalan Sultan Ismail. As for public transportation, there is TRX MRT Station which is practically just next to Core Residence at TRX. This makes it extremely easy for residents there to get around Kuala Lumpur.
Core Residence at TRX is just 1.8km from the Petronas Twin Towers, and for those who need some retail therapy, it is 800 meters from the Pavilion Shopping Mall. Primarily a financial centre, the TRX region is home to well-known companies such as HSBC Bank, IJM Corp, Affin Bank and British Prudential. This creates as many as 40,000 job opportunities in this area alone.
Core Residence at TRX offers its residents full facilities. Units here are fully furnished. With a freehold tenure and a total land size of 1.65 acres, Core Residence at TRX is a property like no other.
IBN Bukit Bunting
IBN Bukit Bintang on Jalan Bukit Bintang will be the next best development in the KLCC area. Developed by Ibn Corp Limited and due to be completed in 2024, IBN Bukit Bintang consists of serviced residential units built on 0.80 acres of freehold land. There will be a total of 339 fully furnished units in a 68-storey tower.
Ranked as one of the top five highest buildings in Kuala Lumpur, IBN Bukit Bintang is at the core of the Golden Triangle. Right in the centre of the Central Business District, IBN Bukit Bintang enjoys uninterrupted views of both the Petronas Twin Towers and the KL Tower.
Jalan Bukit Bintang is accessible via Jalan Tun Razak. Other main roads in the area that gives IBN Bukit Bintang good connectivity include Jalan Pudu, Jalan Raja Chulan, Jalan Sultan Ismail and Jalan Ampang. The Bukit Bintang MRT Station is just a stone’s throw away.
Being located on Jalan Bukit Bintang means that it is just a short walk to numerous shopping malls such as Plaza Sungei Wang, Lot 10, Starhill Gallery, Berjaya Times Square and Pavilion Mall. For food, the Jalan Alor food court across the road offers a large variety of delicious food choices. If medical attention is ever needed, the Tung Shin Hospital and the Prince Court Medical Center are both just a short drive away.
One of the more unique features of IBN Bukit Bintang is its ‘Smart Home Living’ system. This system allows for a first-class AI Security System and also a smart home automation system that allows full control over home using a mobile app. The system also includes a high-tech valet system that saves time spent on finding a parking spot.
Stonor 3 KLCC
Completed in 2019, Stonor 3 KLCC was developed by Tan & Tan with Mitsubishi Jisio. Standing at 41 storeys, Stonor 3 KLCC is a freehold residential condominium that has a total of 400 luxury units.
Stonor 3 KLCC is just a 10 minutes’ walk to both the Petronas Twin Towers and the KLCC Park. With several rail stations nearby, it also enjoys good connectivity to the other parts of Kuala Lumpur. Of course, being in the middle of KL city means that it is accessible via main roads in the KLCC area.
Other amenities that are close by include prestigious schools such as the International School of Kuala Lumpur and the Sayfol International School. It is also just a short walk to the Embassy of Japan and the Singapore High Commission.
With full facilities and services, Stonor 3 KLCC offers investors 1 bedroom, 2 bedroom and 3 bedroom units with build-up sizes ranging from 649 square feet to 1,232 square feet.
YOO8 Serviced by Kempinski at 8 Conlay
Located on Jalan Conlay, 8 Conlay is the latest on the property market in Kuala Lumpur. Setting the record as the tallest twisted twin residential towers in the world, 8 Conlay is KSK Land’s maiden project. Designed by RSP Architects Sdn Bhd, 8 Conlay consists of two towers of branded serviced residences, a 5-star Kempinski Hotel & Hotel Residences, and a four-story lifestyle retail quarters.
Built on 3.95 acres of freehold land, 8 Conlay will be completed in 2021. Easily accessible via the main roads in the KLCC area, 8 Conlay is also close to several rail stations including the KLCC LRT Station, Ampang Park LRT Station and the Raja Chulan Monorail Station.
Being right in the centre of KLCC means that those who live in 8 Conlay will be able to enjoy spectacular views of the Petronas Twin Towers. It is within walking distance to Pavilion Shopping Mall, and there are plenty of restaurants and eateries all around.
Perhaps the best part of 8 Conlay is YOO8 serviced by Kempinski. Residential units in YOO8 are fully furnished and designed by YOO in partnership with world-renowned interior designers Steve Leung and Kelly Hoppen. With four unique concept interiors to choose from, YOO8 combines both flair and functionality.
In addition to this, YOO8 is serviced by Kempinski, Europe’s most well-established hoteliers. Services provided by Kempinski include valet and concierge services, laundry and housekeeping services, a private chef service, residence provisioning, car rental services and car care services. Kempinski’s old school hospitality will please even the fussiest of persons.
YOO8 offers its residents full facilities. There is a water lounge that opens up to a 25-meter lap pool in the Water Lounge on the 26th floor and a Green Refuge on the 44th floor. Other facilities include a gymnasium, a playground, a library and a quirky game room. YOO8 serviced by Kempinski makes 8 Conlay a development that is worth checking out.
The Ruma Hotel & Residences
Located on Jalan Kia Peng, The Ruma Hotel & Residences is a 40-floor skyscraper that is home to a high end serviced residence as well as a hotel on the lower floors. This property was developed by the London Stock Exchange-listed developer Aseana Properties Ltd and Malaysia Stock Exchange-listed company Ireka Corporation Bhd.
Built on freehold land, The Ruma Hotel & Residences is home to 199 serviced residence units and 253 hotel suites units. Units here have 2 or 3 bedrooms and have a build-up size of 915 square feet to 1,830 square feet.
Completed in 2018, The Ruma Hotel & Residences is just 0.7km from the Petronas Twin Towers. This serviced residence offers full facilities and is serviced by Urban Resort Concepts. It also offers undiluted views of Kuala Lumpur’s magnificent skyline.
Those who live here will be able to get around Kuala Lumpur quite easily as The Ruma Hotel & Residences is just a short walk to the LRT, MRT and Monorail Station in KLCC. Those who believe in retail therapy will be happy to know that the Bintang Walk Shopping District is close by. There are also several international schools within the vicinity.
With Malaysia’s good property appreciation rate, it makes sense to invest in one or two properties, especially in the highly sought-after KLCC area. With plenty of residential properties that have sprung up over the years in KLCC, one can start by checking out any of the abovementioned five developments that have made their mark in KLCC.