What the property market has been like and what to expect in three of Kuala Lumpur's most exclusive neighbourhoods
Kuala Lumpur, the bustling capital city of Malaysia, is home to some of the most sought-after and expensive neighbourhoods in the country. From the luxurious high-rises of the Kuala Lumpur City Centre (KLCC) to the trendy and vibrant streets of Bangsar and the upscale developments of Mont Kiara, these neighbourhoods offer an unparalleled lifestyle and exclusivity that is highly coveted by many.
Despite their high prices, these areas continue to attract a diverse mix of affluent locals and ex-pats who are willing to pay a premium for the exceptional quality of living, top-notch amenities, and prime locations. In this property story, we'll explore the unique features and allure of these expensive neighbourhoods in Kuala Lumpur and why they remain a top choice for those seeking the ultimate urban living experience.
Experts from Knight Frank Property Hub share some insight into what the property market has been like and what to expect in three of Kuala Lumpur's most exclusive neighbourhoods.
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Mont Kiara
Known for its luxurious high-rise condominiums and landed properties, Mont Kiara is popular among expats and affluent locals due to its strategic location, modern amenities, and international schools.
According to Knight Frank Property Hub resident manager Iszac Lim Fei Yang, this could have been why the property market in Mont Kiara has remained resilient despite the pandemic, with overall sales and rental prices not impacted much.
"In general, some properties have seen a price drop of around five to ten per cent during the pandemic, especially after the first MCO in 2020; they quickly adjusted to pre-pandemic levels in 2021. For example, the average transacted price for a 2,400 sq ft high floor unit with a KLCC view in Seni Mont Kiara Condominium is around RM2 million to RM2.1 million. During the pandemic, the transacted price dropped from RM1.8 million to RM1.9 million, but by the third quarter of 2022, the transacted price had returned to the RM2.1 million mark," he states.
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