PROPERTY SNAPSHOT 3: Central KL, city of price extremes
The strata market in Central City Kuala Lumpur is dominated by transactions of high-end condos and low-cost flats, with few middle-class products. In the 12 months to 1Q2015
The strata market in Central City Kuala Lumpur is dominated by transactions of high-end condos and low-cost flats, with few middle-class products. In the 12 months to 1Q2015
While addresses in Central City Kuala Lumpur carry less prestige than KLCC ones (analysed in a separate article), most properties here still fall into the high-end segment.
The areas covered include Bukit Bintang, Bukit Ceylon, Chow Kit and Pudu. Geographically, the study area is bounded by Lebuhraya Sultan Iskandar and Jalan Tun Razak to the north and extends south, up to Jalan Istana.
The most expensive condominium was M Suites by Mah Sing Group. Since its completion at end-2013, the studio units (502 sq ft to 527 sq ft) have been the most popular, hence the high average transacted price of RM1,238 psf.
Long established as the expatriate and embassy enclave of Kuala Lumpur, Ampang is home to among the city’s most exclusive addresses.
Ampang is one of Kuala Lumpur’s most elite neighbourhoods and embassy enclaves and its strata market aims high
The local rental market is partly supported by the student population from Tunku Abdul Rahman University College.