People today pay thousands for a Louis Vuitton or Gucci bag, and pay a few times that amount for something from Hermes. There are those who feel that the LVs and Guccis are not worth it as it is too expensive; some rather go for the Pradas and so on, and some go for the Le Sportsac and so on, or Coach for the matter, for the cheaper ranges.
Then there are people who would pay millions to buy a bungalow in a prime area; some pay millions to buy a luxury condominium in Mont Kiara or Hartamas and some complain about these high prices and go for the more affordable homes elsewhere.
SO... the question is... how much would you pay for a home of your choice?
Residence 8 @ Old Klang Road by Ong Chong Realty.
Launched in late 2010, the units are going from about RM 385k upwards - which translates to about RM320psf for the 1,229 sf units. For RM320psf, what do you get? The trendy infinity swimming pool, multipurpose halls, gymnasium, children's playground etc comes pretty standard today - and the Developer has even added a Tai Chi Deck & Yoga Lawn and a 3 tier security system too. In all - this price seems like a very ideal price for a development at Old Klang Road. The land prices at Old Klang Road, although it has rose a bit recently, it has not hit sky high prices yet - hence the Developer is able to sell it out to you at a competitive price of RM 320psf.
Next, lets look at The Oval at KLCC. =)
Units are going for about RM4.5million for its 3,750 sf units - making it just below RM1,200 psf. Sounds expensive? I think rather not. The units are completed already - so pay this amount and move in immediately - minimal interest costs. What do you get for RM 1,200 psf? You'll get a clear view of KLCC, a super large unit (which makes it more for families and super high net worth individuals) in a low density freehold property. It also features a private lift lobby, a floor-to-ceiling wraparound glass walls, column free interiors and a state-of-the-art security system.
Quality aside, the price of RM1,200psf would sound like a total bargain if you were to compare it to its neighbouring developments, such as Troika and The Binjai... but it is entirely your choice. You get your KLCC views... but how many of you KLCC condo owners stare out of the window and look at KLCC so often?
Next, we look at Verve Suites at Mont Kiara.
The price per square feet... goes from also just below RM 1,200psf. You might think... WHAT? RM1,200 in Mont Kiara? Siaooo.... How many people can afford these units? You'll be surprised that many many different young up and rising individuals who earns about 8-10k or with a household income of about RM12-15k can afford this easily. Why? Because of the quantum.
Although it is priced at RM1,200psf, units are going for RM550,000 upwards - why? Because units are sized at 462 sf upwards. An expensive unit... yes. But affordability.... also YES. Simple reason because the units are really small, ideal for a new family start-ups... or the city dwellers with a small family. But you may ask again... whats so special about Verve Suites that makes it sell for RM1,200 psf?
Check out its facilities... almost like a mini club already with its pool table, foosball area, a chillout area and bar, a jacuzzi, sauna, sky gym... not to mention the sky beach and sky lounge, a jet pool, sunken seater, grill terrace, a wet and dry reflexology path, and a cinema paradiso!!!
So... would this RM1,200psf be worth it? I would say... yes, but it is not for everyone. There are plenty of other choices going for almost half its price within the vicinity... so the Verve Suites is really for the niche. =)
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We have seen the cheaper ones and the expensive ones. If you were looking for a property, where would you put your money? And what would be the ones you'll pick? How much would you pay for a house you'll call a home?
With the constant rise in construction costs and escalation of land prices, I believe very soon we'll be looking at RM3,000psf condominium units in the heart of KLCC. A lot of properties at the fringe of KL, i.e. places like Bangsar, Bukit Damansara and Hartamas/Mont Kiara are testing the RM1,000psf threshold - which I believe would be broken easily very soon.
That being said, with condominiums priced at RM1,500psf upwards and selling for RM2-3million.... some may ask... why not buy a landed property? Landed... or high rise... the risks and luxuries are pretty different. The prices... ultimately could end up similar.
SO... the choice is really yours. How much would you pay for a Home?
