Casa Residency, Kuala Lumpur

  • Review
  • Pavither
  • ⋅
  • 5 March 2021

Casa Residency is a freehold serviced residence in Jalan Galloway, Bukit Bintang, in Kuala Lumpur. It was developed by Mutiara Johan Project Management (a subsidiary of the Mutiara Johan Group). Nested in the midst of the bustling city centre Casa Residency takes after its sister development known as Casa Mutiara, which is located just next door.

Nested in the midst of the bustling city centre Casa Residency takes after its sister development known as Casa Mutiara, which is located just next door.

Casa Mutiara is also a freehold high-rise development, behind Swiss Garden Hotel. At a glance, one can tell them apart from the colour scheme (Casa Mutiara is purple in colour, while Casa Residency is in grey). As for unit sizes, Casa Mutiara offers smaller units (325 sq ft to 940 sq ft). Casa Residency was completed in 2014, while Casa Mutiara was completed in 2007.

Casa Residency is 27 storeys high, and has 188 units. As the development is in a prime location, strategically located in the pulse of the city, entertainment, shopping and eateries are either a short walk or drive away. Casa Residency neighbours Bukit Bintang, Chinatown (Petaling Street), and Bukit Ceylon.

Address: Jalan Galloway, 50150 Kuala Lumpur

Developer: Mutiara Johan Project Management (a subsidiary of Mutiara Johan Group)

Property Type: Serviced Residence

Land Area: Approx. 1 acre

Land Title: N/A

No. of Blocks: 1

No. of Storeys: 26

Total Units: 188

Tenure: Freehold

Year of Completion: December 2014

Built-up Area: 535 sq ft – 1,066 sq ft

Facilities:

  • Infinity swimming pool
  • Sauna
  • Gymnasium
  • Children’s playground
  • Security system with access card
  • Covered car park (5-storey)

Launch Price: N/A

Launch Price Per Sq Ft: About RM700 per sq ft

Maintenance Fee: RM0.38 per sq ft

Project Details

Casa Residency is a freehold project at Jalan Galloway, in the KL city centre. There are 188 units available, with built-ups from 535 sq ft to 1,066 sq ft. The launch price was about RM700 per sq ft, and it was completed in 2014.

The land area is about 1 acre, and there is only one block at Casa Residency. The 27-storey project has a lobby, 5-storey parking bay (including the basement), a floor each for facilities and shops (3 units), facilities floor, and 20 floors for residences.

Every floor from the 6th to 10th floor has 12 units, and 8 units per floor on the 11th floor and above.

Every floor from the 6th to 10th floor has 12 units, and 8 units per floor on the 11th floor and above. There are 2 lifts to serve residents and tenants, and there is a selection of types, sizes, and layouts.

Casa Residency offers facilities, including an infinity swimming pool, children’s wading pool, sauna, gymnasium, changing rooms, and children’s playground. All units at Casa Residency have good ventilation, natural lighting, and are furnished with porcelain tiles, and timber flooring.

Every floor from the 6th to 10th floor has 12 units, and 8 units per floor on the 11th floor and above.

The units also come with rooms with a kitchenette equipped with a microwave, refrigerator, an electric kettle, bathrooms with a shower, flat-screen TV, a desk, hairdryer, and free parking is also provided.

Unit Types

Built-Up

6th to 10th floor

Type A

·       709 sq ft

·       2 bedrooms

·       2 bathrooms

Type B & E

·       708 sq ft

·       2 bedrooms

·       2 bathrooms

Type C & D

·       777 sq ft

·       2 bedrooms

·       2 bathrooms

Type F & G

·       747 sq ft & 748 sq ft

·       2 bedrooms

·       2 bathrooms

Type H

·       721 sq ft

·       2 bedrooms

·       2 bathrooms

Type J & K

·       722 sq ft

·       2 bedrooms

·       2 bathrooms

Type L

·       650 sq ft

·       2 bedrooms

·       2 bathrooms

Type M

·       535 sq ft

·       2 bedrooms

·       2 bathrooms

11th to 26th floor

Type N

·       1,021 sq ft

·       3 bedrooms

·       3 bathrooms

Type P & Q

·       1,063 sq ft

·       3 bedrooms

·       3 bathrooms

Type R & S

·       1,060 sq ft & 1,066 sq ft

·       3 bedrooms

·       3 bathrooms

Type T & U

·       1,031 sq ft

·       3 bedrooms

·       3 bathrooms

Type V

·       781 sq ft

·       3 bedrooms

·       3 bathrooms
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Location

Casa Residency is located in the Golden Triangle in Kuala Lumpur, close to Bukit Bintang, Pudu Station, and LRT stations. Located along Jalan Galloway, Casa Residency is just about 250m away from the Hang Tuah LRT station (Ampang line), Hang Tuah monorail station, and Puduraya Bus Terminal.

The development is also easily accessible via Jalan Hang Tuah, Jalan Hang Jebat, and Jalan Pudu. The accessibility factor is what makes Casa Residency popular with renters, and short-term tourists. A quick search shows that there are units available for booking on travel-related websites.

Nested in the midst of the bustling city centre Casa Residency takes after its sister development known as Casa Mutiara, which is located just next door.

Besides that, Casa Residency is within a 15-minute walk from the busy Bukit Bintang shopping enclave with a myriad of shopping malls, recreational and entertainment options, hotels,  and of course, restaurants. For families, there are several schools nearby, including  SRJK (C) Jalan Davidson, Victorian Institution, and Methodist Boy’s School are just nearby.

Additionally, Casa Residency is also metres away from Merdeka Stadium, National Stadium, and Kuala Lumpur police headquarters, Al-Bukhary Mosque and Chan See Shu Yen temple. The development is about an hour’s drive to the Kuala Lumpur International Airport (KLIA).

Accessibility

  • Jalan Hang Tuah
  • Jalan Hang Jebat
  • Jalan Pudu
  • Hang Tuah LRT station (Ampang line)
  • Hang Tuah monorail station
  • Puduraya Bus Terminal 

Education

  • SRJK (C) Jalan Davidson
  • SJK (C) Nan Kai
  • Victorian Institution
  • Methodist Boy’s School
  • Confucian Private Secondary School
  • SM Stella Maris
  • Tsun Jin High School
  • Advance Tertiary College
  • Asia e University (AeU)
  • Berjaya University College
  • Edutrain College
  • IHM College
  • SEGi College KL
  • Windfield International College

Medical Care

  • Tung Shin Hospital
  • Prince Court Medical Centre
  • Twin Towers Medical Centre
  • Gleneagles Hospital, Kuala Lumpur

Shopping

  • Berjaya Times Square
  • Lot 10 Shopping Centre
  • Starhill Gallery
  • Pavilion Kuala Lumpur
  • Suria KLCC
  • Sungei Wang Plaza
  • Bukit Bintang Plaza
  • KL Plaza
  • Fahrenheit 88
  • The LINC KL
  • The Weld

Recreation

  • Stadium Merdeka
  • KLCC Park
  • Aquaria KLCC
  • KL Forest Eco Park (previously known as Bukit Nanas Forest Reserve)
  • Royal Selangor Club
  • Royal Selangor Golf Club
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Analysis

Comparatively, the smallest built-up at Casa Residency is 535 sq ft, while Casa Mutiara has 325 sq ft units as its smallest. Casa Residency does not have studio units like Casa Mutiara

Due to its location, there is demand for units at Casa Residency, and most investors and homeowners have probably gained from capital appreciation and/or high rental yield through the years.

Casa Residency offers facilities, including an infinity swimming pool, children’s wading pool, sauna, gymnasium, changing rooms, and children’s playground

The asking purchase price of a 722 sq ft 2-bedroom 2-bathroom unit listed on PropertyGuru in March 2021 is about RM848,000. On the other hand, rent is between RM2,000 and RM2,300 per month. Therefore, for units purchased RM848,000, and rented out at RM2,300 per month, the gross rental yield would be about 3.25% per annum.

As for Casa Mutiara, the 740 sq ft units are listed for sale at about RM550,000, while rental is about RM1,700 per month. Thus, the gross rental yield would be about 3.71% per annum.

Here’s a look at residential properties in the KL city centre.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

Casa Residency by Mutiara Johan Group

Freehold

Serviced Residence

2014

535 sq ft – 1,066 sq ft

About RM700 psf

 

Casa Mutiara by Mutiara Johan Group

Freehold

Serviced Apartment

2007

325 sq ft – 940 sq ft

N/A

 

Swiss Garden Residences by Superville Sdn Bhd (PJ Developments Holdings)

Freehold

Serviced Residence

2011

550 sq ft – 2,700 sq ft

From RM433,880

D’Majestic Residenz @ Pudu by PJD Group

Freehold

Condominium

2015

282 sq ft – 1,380 sq ft

From RM380,000

Kenanga Point by Mahajaya Berhad

Freehold

Condominium

N/A

860 sq ft – 1,065 sq ft

From RM365,200

Dorsett Residences Bukit Bintang by Far East Consortium International Limited

Freehold

Serviced Apartment

2018

652 sq ft – 1,331 sq ft

From RM1.25 million

 

The Robertson Residence by Gamuda Land

Freehold

Serviced Apartment

2018

527 sq ft – 807 sq ft

From RM700,000

Expressionz Professional Suites Tun Razak by EXSIM Group

Leasehold

Residential Suites

2018

643 sq ft – 1,405 sq ft

From RM665,5050
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Summary

Mutiara Johan was established in the 1990s and they have developed more than 3,000 homes and commercial properties in Kuala Lumpur. Among its projects are Casa Mutiara (service apartment) in KL, Binjai Residency (condo) in KL, Residensi Gombak 126 (mixed), Tiara Mutiara (mixed) in Puchong, Mutiara Residency (condo) in Brickfields, Cheras Business Centre, and Mutiara Puchong Business Centre.

Casa Residency offers facilities, including an infinity swimming pool, children’s wading pool, sauna, gymnasium, changing rooms, and children’s playground

Casa Residency is located close to 3 arterial roads – Jalan Imbi, Jalan Sultan Ismail, and Jalan Raja Chulan, whilst being surrounded by amenities such as schools, hospitals, offices, shopping malls, and tourist spots.

Thanks to its prime location in the heart of Kuala Lumpur, it has enjoyed a high occupancy rate, with constant demand from working professionals who are looking for spacious units at affordable rental rates in Kuala Lumpur.

Here are some loan figures for a 722 sq ft unit at Casa Residency, priced at RM848,000.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM84,800
  • Loan amount: RM763,200
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM3,301
  • Approximate required gross annual income: RM132,500*

* Assumptions: No other monthly debt obligations, and 30% of gross income spent on the home loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.

Use these calculators to adjust the loan numbers:

Home loan basics: Know your Debt Service Ratio (DSR)!

DSR is a method used by banks in Malaysia to calculate whether you can afford the loan you’re applying for. To calculate your Debt Service Ratio (DSR), refer to the FREE PropertyGuru Loan Pre-Approval tool. It has a 99.9% accuracy, which helps in minimising loan rejections.

 

Keep browsing Malaysia’s largest property site for more project reviews. 

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Eric Wong

Pavither

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