MONT KIARA, Dutamas and Hartamas are the talk of the town, catering to the discerning urban populace looking for residences that not only offer comprehensive amenities that cater to their lifestyle, but are within proximity to the rest of Kuala Lumpur.
That said, Jalan Ipoh, Jalan Kuching, Segambut and Kepong are long-standing areas, primed to meet the needs of middle-class buyers looking for a home away from the hustle and bustle, according to Henry Butcher Malaysia.
We take a look at the upcoming supply of condominiums and serviced apartments in these four areas.
Developments that are located in these areas have a selling price in the range of RM440 to 860 per sq ft — mostly catering for the middle-income group. These developments are expected to be completed within the next four years (2018 to 2021).
Unit sizes are generally smaller as well - future condominium developments that are situated specifically in Kepong and Jalan Kuching tend to offer 3+1 bedroom for smaller unit types ranging between 800 to 900 sq ft. The largest offering one can find is in Segambut, measuring 2,942 sq ft (Residensi Harmoni 2). Note that studio and duplex configurations are available in the area but in very limited quantity.
Meanwhile, most of the serviced apartments located in Segambut and Jalan Ipoh are medium high-end serviced apartments (RM500 and RM800 per sq ft). These future developments add 2,497 units in Segambut, 5,133 units in Kepong and 2,276 units in Jalan Ipoh (including 660 units of RUMAHWIP — Residensi Sri Wahyu). All in all, there are 3 developments in Segambut, 5 in Jalan Ipoh and 5 in Kepong.
NEW SUPPLY
The outlier of the future supply is Residensi Sri Wahyu, at RM372 per sq ft — priced significantly lower than the rest, as it is earmarked as affordable housing.
Unit offerings amongst the future supply of serviced apartments are: 1 bedroom, 1+1 bedrooms, 2 bedrooms and 2+1 bedrooms. To target families and investors, some developers offer service apartments with 3 bedrooms and above. For the projects listed, developments that offer units with 4 bedrooms are located in Jalan Ipoh and Kepong.
In general, the facilities provided in serviced apartments are very similar to a normal condominium development. The main difference appears to be the provision of facilities to suit the needs of the business travelers e.g. business centres etc, which are normally not available in condominiums. Aside from business-oriented niceties, services such as housekeeping and launderette are also provided on per use basis for some serviced apartments. Common facilities that both condominiums and serviced apartments feature include swimming pools, gymnasiums, sauna, 24-hour security, and an F&B presence.
Of the areas listed, Segambut is considered an up-and-coming address. With upcoming developments in KL Metropolis (most notably MITEC (Malaysian International Trade and Exhibition Center), existing infrastructure (easy access to KTM Komuter and MRT), as well as good connectivity to expressways, it stands to reason that prices within it and the surrounding area will grow.