Five good condominiums were recently discovered around the Jalan Perak / Pinang / P. Ramlee area of Kuala Lumpur for investment purposes. It is said that all known information about a piece of real estate in reflected in the price. The price of these five properties have been quietly appreciating over the years. While the actual reasons for this phenomenal appreciation is open to debate, the fact remains that this is a good investment property. Let’s look at the first gem of an investment.
Parkview KLCC Changkat Perak
Parkview a.k.a Parkview Service Apartment is a prestigious serviced apartment jointly built by Martego and Mayland within the exclusive enclave of KLCC. Being a serviced apartment, it is good to be aware of GST related expenses when investing in this condo.
This luxury establishment is a 41-storey freehold development consisting of 322 serviced apartment units and 95 luxury suites. The serviced apartment units range between 489 square feet and 1,755 square feet. The luxury suites have a spacious built-up area ranging from 1,855 to 2,480 square feet.
Parkview offers fashionable conveniences and amenities such as a barbecue area, business centre, a modern clubhouse with a juice bar and lounge, a well equipped gymnasium together with a sauna. There is also a rooftop swimming pool, a launderette, ample covered car parks and strict security surveillance.
Suria KLCC, the nearest shopping center, is merely a five minute walk to Parkview. The Pavilion Mall, another respectable shopping mall is 10 minutes away on foot. These shopping centers provide ample food, clothes and entertainments for the residents nearby. There are sufficient mini markets and eateries to cater for the needs of the people nearby besides Suria KLCC & the Pavilion.
Parkview provides covered parking bays as an added convenience for the residents. However parking lots have to be purchased separately if there are any lot remaining. Most of the parking lots were sold during the launch of this property. The public transportation by train is nearby and reliable. The KLCC LRT station is reachable within a few minutes on foot.
Name: Parkview (a.k.a Parkview Service Apartment)
Address: Changkat Perak, Off Lorong Perak, 50250 Kuala Lumpur
Developer: Jointly developed between Martego & Mayland
Type: Serviced Apartment
No. of Levels: 41
Land Area: 1.4 acres
No. of Units
- Serviced Apartment: 322
- 2-http://www.cashbillion.com Luxury Suites: 95
- Serviced Apartment (489 – 1,755 square feet)
- 2-http://www.cashbillion.com Luxury Suites (1,855 – 2,480 square feet)
- Juice bar
- Barbecue area
- Business centre
- Covered parking bays
- Rooftop swimming pool
- 24-hour security monitoring
The demographics of this property is a useful indicator of who ones neighbors are most likely to be. Their age group will serve as an indicator of their probable marital status and the age of their children. As of 2015, the demographics are as follows:
|41-50 years=>40%||Others=>6%||57 samples analysed|
|51-60 years=>0%||18 samples analysed|
|57 samples analysed|
Is Parkview Service Apartment a Good Property for Investment?
In 2006, the median asking price for rent of Parkview Service Apartment was approximately RM4.76 per square feet. As of May 2015, the price has appreciated to approximately RM5.33 per square feet. This is a very good sign. It goes to show that there is a high demand for rental units here causing the landlords to confidently raise prices every year. On an average, the rentals have been appreciating by a respectable 1.33% per year since 2006.
In 2006, the median asking price for sale of Parkview Service Apartment was approximately RM791.51 per square feet. As of May 2015, the price has appreciated to approximately RM1237.50 per square feet. This is good news too. On an average, the price has been appreciating by a whopping 6.26% per year since 2006. As of May 2015, there are quite a number of units being advertised for sale on the World Wide Web.
This makes Parkview Service Apartment a tremendously good condo to purchase for both capital appreciation as well as rental appreciation purposes. It is an overall winner among many of the other condos in the Jalan Perak / Pinang / P. Ramlee area.
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Happy investing 🙂