Two good condominiums were recently discovered in the Jalan Gurney / Semarak 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 two properties have been steadily 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. In Part 1 of this report, the identity of the first gem was revealed. If you missed it, search this website for Lanai Gurney Investment Condo Jalan Gurney / Semarak. Now in Part 2, the second gem is unveiled.
The Palladium Condominium Jalan Gurney 2 Kuala Lumpur
This is an overall “champion” for both rental & capital gains. The Palladium Condominium is a medium-end high density condominium situated in Keramat, Kuala Lumpur. It consists of four 9-storey blocks. Three blocks are situated next to each other, while the other block can be found across Jalan Gurney 2. The Palladium contains 320 units with built-up sizes spanning from 930 square feet to 1,200 square feet.
Prominent buildings nearby include Balai Felda, Sri Perlis flats, University Teknologi Malaysia 5th College, TM Multimedia College and Wisma Felda. Other nearby amenities include SRK Jalan Gurney 2, Surau Al-Ikhlasiah, General Hospital, National Heart Institute (IJN) and Respiratory Medical Instutute. Prime shopping malls are located a short drive away. These shopping malls include Avenue K, Suria KLCC and The Pavilion.
The Palladium Condominium is easily accessible from KL city center. It is connected to the city center via Jalan Tun Razak or Jalan Ampang, which in turn is accessible via Jalan Semarak and Jalan Jelatek respectively. Besides that, The Palladium Condominium is adjacent to Ampang-Kuala Lumpur Elevated Highway which connects to the Ampang neighborhood and Middle Ring Road 2 (MRR2).
Name: The Palladium (a.k.a The Palladium Condominium)
Address: Jalan Gurney 2, Keramat, 54000 Kuala Lumpur
No. of Blocks: 3
No. of Levels: 9
No. of Units: 320
Built-up: From 930 square feet
Covered car park
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=>25%||Indian=>8%||706 samples analysed|
|Others=>6%||575 samples analysed|
|705 samples analysed|
Nearby New Development
There is a new condominium called Havalla located at Jalan Gurney 2, Kampong Dato Keramat in Keramat, a few minutes away from the RapidKL Jelatek and RapidKL Damai. It is close to the Sekolah Menengah Perempuan Putri Ampang and Sayfol International School. This appears to be a freehold condominium. However, looking at the latest Google Streetview image as of October 2013 below, there does not seem to be any construction taking place nor are there any signboards advertising Havalla. There is not much information about Havalla on the World Wide Web too as of 2015. Therefore, the presence of Havalla will probably not affect the value of The Palladium adversely for the time being.
Is The Palladium Condominium a Good Property for Investment?
Despite being an old condo, “old is gold” so they say. In 2003 the median asking price for rent of The Palladium was RM1.42 per square feet. In 2014 the median asking price for rent appreciated to RM1.82 per square feet. This equates to approximately 2.56% appreciation per year. There are hardly any units being advertised for rent as of may 2015. This is probably an indication of a very stable area in terms of tenant movement. This situation will augur well for landlords who are looking for long term tenants. Among the various sizes, the best performer appears to be the 1100 square feet units. This category appreciated by approximately 5.9% per year from 2003 – 2014.
In 2003, the median asking price for sale of The Palladium Condominium was RM146.43 per square feet. In 2013 the price went up to RM485.36 per square feet. As of May 2015, There are hardly any units being advertised for sale on the World Wide Web. Obviously this is due to the tremendous capital gains enjoyed by the owners of this condo. This is a whopping 23.14% appreciation per year.
This makes The Palladium Condominium a good condo to purchase for capital appreciation as well as rental appreciation purposes.
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Happy investing 🙂