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Continue Reading ⋅ 9 June 2021
Palm Spring Condominium is a high-density condominium in Kota Damansara, and it was developed by Muafakat Kekal Sdn Bhd. Located along Jalan PJU 3/23, residents have access to amenities in Kota Damansara such as Sunway Giza Mall, Strand Mall, 1 Utama shopping centre, The Curve, IPC, Tesco, IKEA, and more.
Within its compound, Palm Spring also offers a wide range of amenities to its residents. With these facilities, residents will be able to enjoy leisure time within familiar surroundings.
There is a row of shop lots next to Palm Spring, which were also built by the developer, Muafakat Kekal. It is indeed convenient living for residents due to the strategic location and various amenities in its neighbourhood.
Address: Jalan PJU 3/29, Section 13, Kota Damansara, 47810, Selangor
Property Type: Condominium
Land Title: Residential
No. of Blocks: 6
Total Units: 2,180
Tenure: Leasehold
Year of Completion: 2005
Built-up Area: 915 sq ft – 1,259 sq ft
Facilities:
- Clubhouse
- 7 swimming pools
- Children’s wading pool
- Indoor badminton court
- Gymnasium
- Sauna
- Jacuzzi
- Tennis court
- Nursery
- Children’s playground
- Mini market
- Golf-putting ground
- Multi-level car park
- 24-hour security with smart card access system
Launch Price: From RM160,000
Maintenance Fee: 17sen psf
Project Details
Palm Spring Condominium has 6 blocks, with a total of 2,180 units. The units feature different layouts, with built-up sizes ranging from 915 sq ft to 1,259 sq ft. Every block features a U-shape design.
The condo’s amenities include 7 swimming pools, wading pool for children, sauna, in-house badminton, clubhouse, gym, sauna, tennis court, nursery, playground for kids, mini market, car park and a golf-putting ground.
The project was completed in 2005 and the launch sale price of its units started from RM160,000.
Location
Palm Spring is accessible via Jalan Damansara, New Klang Valley Expressway (NKVE), Lebuhraya Damansara-Puchong (LDP) and the Penchala Link. Kuala Lumpur city centre (KLCC) is about a 15 to 30 minutes’ drive away via the Penchala Link.
There are several popular shopping malls close by, including The Curve, eCurve, AEON BiG, IPC (IKANO Power Centre), 1 Utama shopping centre, IKEA, and Tesco Extra.
Located in Sunway Damansara, Palm Spring’s residents are located just a few short minutes’ drive to these prime neighbourhoods – Damansara Indah, Bandar Utama, Tropicana and Mutiara Damansara.
Schools and higher learning institutions near Palm Spring include SK Seksyen 11 Kota Damansara, SJK Damansara, SJK Effingham, SK Bandar Utama Damansara, SMK Seksyen 4 Kota Damansara, First City University College (formerly KBU International College), Wawasan Open University and SEGi University College. Additionally, Thomson Hospital Kota Damansara is short walk away.
There are also hotels such as One World Hotel and The Royale Bintang Damansara within the vicinity.
Accessibility
- Jalan Damansara
- New Klang Valley Expressway (NKVE)
- Lebuhraya Damansara-Puchong (LDP)
- Penchala Link
Education
- SK Seksyen 11 Kota Damansara
- SMK Seksyen 4 Kota Damansara
- SJK Damansara
- SJK Effingham
- SK Bandar Utama Damansara
- Joseph’s Institution International School Malaysia
- First City University College (formerly KBU International College)
- Wawasan Open University
- SEGi University College
Medical Care
- Thomson Hospital Kota Damansara
- Alpha Specialist Centre
- Tropicana Medical Centre
Shopping
- The Curve
- eCurve
- AEON BiG
- IPC (IKANO Power Centre)
- IKEA
- Courts Mammoth
- Tesco Extra
- Sunway Giza Mall
- Strand Mall
- 1 Utama shopping centre
- Centrepoint Bandar Utama
Recreation
- Sri Selangor Golf Club
- Tropicana Golf and Country Resort
- The Club Bukit Utama
- Bandar Utama Golf Driving Range
- Central Park Bandar Utama
Analysis
Palm Spring has had some value appreciation. A unit with a built-up of 936 sq ft was sold at RM260,000 in 2011. In January 2021, the same unit size is advertised for sale in PropertyGuru between RM313,000 and RM400,000.
When driving by Palm Spring, one will see cars parked along the roadside (which is not uncommon for most high-rise residential buildings). Residents would have to bear the risk of their cars being vandalised or compounded.
There are 2,180 units, but only 329 additional parking lots in addition to the 1 car park per unit quota.
Located in a strategic spot, also means having to deal with heavy traffic. Persiaran Surian can be massively congested as it connects Kota Damansara and Lebuhraya Damansara Puchong (LDP), a popular route among motorists.
Connectivity to KL and Shah Alam will be greatly enhanced via Damansara–Shah Alam Elevated Expressway (DASH). Plus, the new underpass near Sunway Giza Mall at Persiaran Surian in Kota Damansara has helped to alleviate the traffic along Persiaran Surian, especially during peak hours.
There’s a MRT line that runs along Persiaran Surian to Sunway Damansara, and a station is less than a km away from Palm Spring. The LRT Line 3 (Bandar Utama-Klang) commenced construction in July 2017 and is expected to be completed by 2024. This will allow Kota Damansara to be further connected to the south-east and south-west of the Klang Valley.
Here’s a look at residential properties in or close to Kota Damansara.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Palm Spring by Muafakat Kekal Sdn Bhd |
Leasehold |
Condominium |
2005 |
915 sq ft – 1,259 sq ft |
From RM160,000 |
|
|
Leasehold |
Serviced Residence |
2020 |
750 sq ft, 880 sq ft, & 1,047 sq ft |
From RM592,000 |
|
Encorp Strand Residences by Encorp Berhad |
Leasehold |
Condominium |
2015 |
734 sq ft – 1,462 sq ft |
From RM739,600 |
|
Cascades Residences by Mitraland Group Sdn Bhd |
Freehold
|
Serviced Apartment |
2014 |
561 sq ft – 1,138 sq ft
|
From RM428.000 |
|
Opal Damansara by Sunway City Sdn Bhd |
Leasehold |
Condominium |
2007 |
1,140 sq ft – 3,605 sq ft |
From RM309,000 |
|
Cita Damansara by Sunway City Sdn Bhd |
Leasehold |
Condominium |
2005 |
1,220 sq ft – 1,260 sq ft |
From RM650,000 |
|
Challis Damansara by Sunway City Sdn Bhd |
Leasehold |
Townhouse |
2010 |
2,350 sf – 2,472 sf
|
From RM645,888
|
Summary
It has been reported that high-rise residential properties in Kota Damansara have shown significant capital appreciation due to the strong demand for apartments and mid-range condominiums.
For residents, transportation to the Kota Damansara township is easily available as the town is serviced by MRT lines, and major roads and highways. The MRT lines to the township are served by namely the Kota Damansara MRT and Surian MRT stations. There are also feeder bus services leading to the township areas and the neighbouring Kwasa Damansara township.
Here are some estimated loan figures for a 936 sq ft unit priced at RM350,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM35,000
- Loan amount: RM315,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM1,362
- Approximate required gross annual income: RM55,000*
These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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