Dear Yan,
St Mary is a quality project by a reputable E&O developer.Their other popular project is Dua Residency along Jalan Tun Razak, opposite the US Embassy.However, demand is primarily driven by location while quality is expected for that price range.
I have conducted a research for some buyers on existing condominiums around KLCC and embassy area. The range of prices varies from RM850 per sq ft to RM1,200 per sq ft and top notch condominiums at RM2,000 per sq ft. The popular sizes are still the mid range ranging from a 2 bedrooms 1,000 sq ft to 3 bedrooms 1,600 sq ft.
There is generally an oversupply of condominiums in KL especially the bigger unbits of 2,000 sq ft and above where the demand to rent is much lower. Some of the popular locations are nearer KLCC or Pavilion shopping centers.eg. Marc Residence, Hampshire area, Pavilion Residence, Binjai, Dua Residency etc.
If you get a gross yield of 5% to 6% is considered good in current market. Some older and established condominiums are with existing tenancies of 5% yields, if you know how to hunt for it. In a perceived crisis there are always opportunities but need to constantly look out. Please provide me with your contact details and I will advise you further. my email is davidwong@quantumrealestate.com.my Thank you
David Wong
Principal
QUANTUM real estate
+60193330573
Read More
