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If you’d visited Kuala Lumpur even five years ago, you’d have seen few high-end apartment residences. Among both foreigners and middle- and upper-class Malaysians, the trend was to move away from the city centre. This is no longer the case. New developments are springing up everywhere, and demand seems strong. There is one development where you can only invest by private invitation! Most buyers have seen values rise by at least 15% to 20% per annum in the past couple of years. Rental yields are in the region of 8% to 10%, with an average return of around 9%.
KLCC prices are mostly in the £70.00 to £120.00 per square foot range. Investors who bought into one new luxury property called the Duo Residence have seen gains of 20% in 12 months—the building isn’t due for completion until the end of 2006. Apartments here range from 550 ringgits to 800 ringgits (£80.00 to £110.00) per square foot.
The prime residential condominiums in Bangsar are located at Bukit Bandaraya. See map for details. New residential units are currently transacting at up to RM 850 per square foot, however resale properties are sometimes available at RM450 to RM 500 per square foot. The rise in non-performing loans, over-ambitious local purchasers and changed personal circumstances means that we can often source genuine bargains at well below market value.
Non-performing residential mortgages in Malaysia are almost 10% this year and this means good opportunities for the astute investor. A favourite with both locals and expats, Bayu Angkasa is one of Bangsar’s top condo developments. Facilities include a gym, squash and tennis courts, a resort-style swimming pool, a BBQ area, and children’s play area. Prices start from £75,000 for a 1,500-square-foot apartment, which you could rent furnished for £550 per month. Management charges are around £40.00 monthly.
We can assist you to refurbish, re-decorate and re-model your unit as well as let-out your property and the table below shows typical monthly rental returns for some of the prime Bangsar apartments we have available.
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Typical Rental Returns in Bangsar
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CONDOMINIUM NAME
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ROOMS
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BUILT-UP Sq. Ft
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MONTHLY RENT (RM)
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Araville
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3+1 rooms
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2,100
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7,000
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Bangsar Indah
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1 room
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650
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1,600
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Bayu Angkasa
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3 rooms
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1,400
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4,000
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Casa Vista
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2+1 rooms
3+1 rooms
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1,100
1,300
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2,500
3,500
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Cascadium
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1 room
2 rooms
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750
1,200
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2,500
3,500
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Contessa
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2+1 rooms
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1,400
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6,000
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Desa Bangsaria
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3+1 rooms
4+1 rooms
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1,800
2,100
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6,500
7,000
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Jamnah View
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2 rooms
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1,400
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3,500
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Impian Emas
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3+1 rooms
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2,300
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8,300
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Pantai Hill Park
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3 rooms
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1,000
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1,500
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Park Rose
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2 rooms
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1500
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3,800
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Sri Penaga
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2 rooms
3+1 rooms
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1033
2000
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3,500
8,000
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Sri Wangsaria
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3 rooms
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1,400
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3,800
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Sri Kasturina
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3 rooms
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1,400
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4,000
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Tivoli Villa
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1+1 rooms
2+1 rooms
3+1 rooms
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700
1,200
1,700
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1,800
3,000
4,000
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