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Continue Reading ⋅ 19 February 2022
Ritze Perdana 1 is a leasehold apartment located in Damansara Perdana, Petaling Jaya. It was developed by Usaha Hartamas Sdn Bhd and completed in 2006.
At its launch, it introduced the tagline, “Declare your independence, live the life as you desire”. That referred to its target market, the young and urban community, which also explains why the developer offered studio units in Ritze Perdana 1.
Ritze Perdana 1 offers green landscape, and facilities include a swimming pool, playground, park, gymnasium, sauna, squash court, and barbeque area.
Following, Ritze Perdana 1, there is also Ritze Perdana 2 that is located about 5 minutes’ drive away. Younger adults might prefer Ritze Perdana 1 as the Damansara Perdana commercial centre is located right in front of the project.
Address: Jalan PJU 8/2, Damansara Perdana, 47820, Selangor
Developer: Usaha Hartamas Sdn Bhd (MK Land Holdings Bhd)
Property Type: Condominium
Land Title: Residential
No. of Blocks: 3
No. of Storeys:
Total Units: 997
Tenure: Leasehold
Year of Completion: 2006
Built-up Area: 382 sq ft – 634 sq ft
Facilities:
- Swimming pool
- Barbecue area
- Business centre
- Squash court
- Barbeque area
- Gymnasium
- Jogging track
- Mini market
- Nursery
- Playground
- Sauna
- Covered parking
- 24-hour security
Launch Price: From RM96,500
Launch Price Per Sq Ft: About RM250 per sq ft
Maintenance Fee: RM0.26 per sq ft
Project Details
Ritze Perdana 1 consists of 3 blocks and it comprises studio and 1-room units, with built-ups of 382 sq ft, 406 sq ft and 634 sq ft. In total there are 997 units, and the launch price of the units started from RM96,500.
Ritze Perdana 1 features quite a few facilities. Apart from the regular facilities found in high-rise developments, it also includes a business centre, mini market, nursery and a cafeteria – all of which provide added convenience for residents. The development also has 24-hour security.
Ritze Perdana 1, at a glance:
- Leasehold
- 3 blocks
- 997 units
- 380 sq ft, 406 sq ft, 634 sq ft
- Studio or 1 bedroom
- Launch price: From RM96,500
- Selling price as at March 2021: From RM200,000
These studio or small apartment units are targeted at those who want smaller entry-level starter homes, as well as investors who want more affordable property.
These include singles, newly married couples, expatriates who are here without their dependants, college students and retired senior citizens who do not want the hassle of maintaining a large home. These units also appeal to those who want to live near their office.
Location
Ritze Perdana 1 is surrounded by a good variety of amenities. For malls, there are several options such as IKEA, The Curve, IPC, 1Utama, Tesco, and all the choices there are available in the PJ locale within a short 10- to 15-minute drive.
Food choices are aplenty, and if one is feeling lazy, then they know there are also plenty of choices that can be delivered to them as well. Plus, Jaya Grocer is within walking distance for residents as well.
As for accessibility, Ritze Perdana 1 is accessible via the Penchala Link or Lebuhraya Damansara-Puchong (LDP). The fastest route to the KL city centre would be via Penchala Link, which 3 minutes’ drive from Ritze Perdana 1. So that puts residents about 20 to 25 minutes from the city centre.
That route also gets residents to Mont Kiara and Jalan Duta. Residents can also reach Kepong, Kelana Jaya, Sunway, Subang, and Puchong by travelling on the Damansara-Puchong Expressway (LDP). It is also just 5 minutes from the Mutiara Damansara MRT Station.
So, residents can check off their daily to-get list rather easily either on foot, by car, or public transport.
Accessibility
- Lebuhraya Damansara-Puchong (LDP)
- North Klang Valley Expressway (NKVE)
- SPRINT Highway
- Middle Ring Road 2 (MRR2)
- Penchala Link
- Persiaran Surian
- Mutiara Damansara MRT station (SBK08)
Education
- SEGi College Kota Damansara
- Sri KDU / KDU International Schools
- The British International School of Kuala Lumpur
- Garden International School
- Mont Kiara International School
- The International School @ Parkcity
- SRJK Puay Chai (2)
- SMK Taman Tun Dr Ismail
- SK Bukit Lanjan
Medical Care
- Thompson Hospital Kota Damansara
- KPJ Damansara Specialist Centre
Shopping
- Damansara Perdana commercial centre
- Metropolitan Square
- IKEA Damansara
- The Curve
- IPC Shopping Centre
- Lotuss (Tesco Extra Mutiara Damansara)
- Courts Mammoth
- 1 Utama Shopping Centre
- Strand Mall
- Sunway Giza Mall
- Decathlon Sri Damansara
Recreation
- Kidzania
- Bentley Music Academy
- KL Golf & Country Club
- Tropicana Golf and Country Resort
- Sri Selangor Golf Club
- The Club Bukit Utama
Analysis
Ritze Perdana 1 has had its share of drama in the past. There has been cases of fire incident and explosion in the car park, burnt car. These were way back in 2007 and 2008. There has also been reports of break-ins.
So, it would be good to check on the maintenance and how it is present day, just to be sure. Despite it all, the capital appreciation has been good and the property has consistently fetched decent rental yield through the years.
Ritze Perdana 1 features an open concept bathroom. This means that the interior of bathroom can be seen from the living area. That would be perfectly fine, until you have visitors, and someone needs to use the bathroom.
Ritze Perdana 1 was succeeded by Ritze Perdana 2, which was completed in 2010. It is another studio apartment development by the same developer. Ritze Perdana 2is closer to Lotuss (Tesco Extra), which is about a 5-minute walk away, and that puts residents slightly closer to the shopping malls there. This itself could make Ritze Perdana 2 preferred over Ritze Perdana 1.
The sale price of a 406 sq ft unit listed on PropertyGuru in March 2021 is from RM220,000 to RM260,000. On the other hand, rent is between RM950 and RM1,600 per month. Here’s its gross rental yield:
- Purchase price: RM230,000
- Rent out: RM1,000 per month
- Gross rental yield: About 21% per annum
Here’s a look at residential properties in Mutiara Damansara / Kota Damansara.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Ritze Perdana 1 by Usaha Hartamas (MK Land) |
Leasehold |
Condominium |
2006 |
382 sq ft – 634 sq ft |
From RM96,500 |
|
Ritze Perdana 2 by Usaha Hartamas (MK Land) |
Leasehold |
Condominium |
2010 |
420 sq ft – 849 sq ft
|
RM297,150 |
|
Leasehold |
Condominium |
2005 |
915 sq ft – 1,259 sq ft |
From RM160,000 |
|
|
Perdana Emerald by Saujana Triangle (MK Land) |
Leasehold |
Serviced Residence |
2005 |
875 sq ft – 1,185 sq ft
|
N/A |
|
Flora Damansara by Saujana Triangle (MK Land) |
Leasehold |
Apartment |
2005 |
646 sq ft – 1,776 sq ft
|
N/A |
|
Leasehold |
Condominium / Serviced Residence |
2014 |
Condo: Serviced Apartments: 452 sq ft – 2,702 sq ft |
From |
|
|
Freehold |
Condominium |
2015 |
1,092 sq ft – 1,705 sq ft |
From RM940,000 |
|
|
Empire City Halo Sunday by Mammoth Empire Group of Companies |
Leasehold |
Mixed commercial |
2015 |
426 sq ft – 952 sq ft |
From RM500 per sq ft |
|
Leasehold |
Serviced Apartment |
2018 |
560 sq ft – 1,100 sq ft |
About RM500 per sq ft |
Summary
Damansara Perdana used to be an orang asli village until developer MK Land bought most of it and started developing the area in 1996.
Since then, Damansara Perdana has become one of the more popular township in Petaling Jaya, as it is located within the “golden triangle” of Petaling Jaya, consisting of Bandar Utama and Mutiara Damansara.
MK Land Holdings Bhd is listed on Bursa Malaysia, and it has developed The Rafflesia (3- & 3½-storey semi-detached hilltop villas) at Damansara Perdana, Armanee Terrace II at Damansara Perdana, Residensi Suasana @ Damai at Damansara Damai, Taman Bunga Raya (2-storey house) at Rawang, Ombak Villa Langkawi, Bukit Merah Laketown Resort (theme park, convention & hotels) in Perak, and Lake View College, Bukit Merah.
If you’re interested in a 406 sq ft unit at Ritze Perdana 1 that’s priced at RM230,000, here are its estimated loan figures.
- LTV / margin of finance: 90%
- Down payment (10%): RM23,000
- Loan amount: RM207,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM895
- Approximate required gross annual income: RM36,000*
Want to change the loan figures? Use these calculators:
Want to find out your Debt Service Ratio (DSR)? Use the FREE PropertyGuru Loan Pre-Approval tool. It has a 99.9% accuracy, which greatly helps in avoiding loan rejections.
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. The basic rule is that banks usually loan up to 30% of your gross annual income.
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