Market News: High Residential Re-Sale and Rental Market in KL City Centre, from 2012 to 2016

TIn general, the average re-sale of non-landed high-rise residential properties in KL City Centre with price tag higher than RM 1 million and above has dropped since 2014. This partially due to the economy slow down in particular related to the plunge in the oil price as the oil and gas companies may have downsized their workforce in the KL offices that directly reduces the number of expatriates. Hence, reducing the market attractiveness demand. Local buyes have been cautious when evaluating the prospect of the high-rise properties while foreign investors were almost absent from the market considering the underlaying risks.

   

                 Data Reference: The Edge Property

Asking Prices and Rentals of Existing High End Condominiums (1H 2015):

Location	Asking Gross Rental (RM psf/month)	Average Asking Price (RM psf)
KL City Centre*	2.70 - 5.30	650 - 1,600
Ampang Hilir / U-Thant	2.00 - 4.00	500 - 1,100
Damansara Heights**	2.50 - 4.00	650 - 950
Kenny Hills	2.20 - 3.40	520 - 900
Bangsar	2.50 - 4.50	650 - 1,200
Mont Kiara***	2.20 - 3.30	450 - 750

Notes:

* Excludes The Binjai On The Park

** Includes Twins @ Damansara Heights

*** Excludes Verve Suites which comprises mainly fully furnished small units

Data Source: Knight Frank