Buy Properties As Close To City Center
All About Ampang
Several years ago it looked like Ampang would continue to gradually slip, relative to the other exclusive residential suburbs of Kuala Lumpur such as Bangsar and Damansara Heights. The area's traffic and the potential relocation of the embassies there to Putrajaya were concerns.
However, what we have instead seen is a remarkable revival due to a number of factors.
The economic activities and demand for luxury condos in the KLCC area, for one, have directly benefited neighbouring Ampang and encouraged the building of lowrise luxury condominiums benchmarks against the KLCC. And then there is the up-and-coming Duke Highway that will make access from suburbs of Mont' Kiara, Damansara and Petaling Jaya significantly easier.
Traffic is still the issue, but with Ampang becoming increasingly vibrant, people are prepared to accept it. With regards to the embassies moving to Putrajaya, there is still no sign of it happening and they do not play as influential a role as they once did since the KLCC has further fused with Ampang, making demand for properties in the area increasingly KLCC-centered.
Despite recent price increases, rental yields in Ampang are still very strong due to largely to the presence of its growing expat community.
Ampang Hilir and U-Thant - the closest of Ampang's enclaves to the KLCC - are in short of supply of residential units and in my view, this will remain for some time to come. Their closeness to the KLCC and the embassies, the presence of the Duke Highway, the fact that these enclaves cannot expand, and their demand from the expat market which support rents make their properties great long-term investments.
Damai and Titiwangsa are a little further out but now becoming sought after as Ampang Hilir and U-Thant become increasingly expensive.
Deeper down Jalan Ampang are Ukay Heights, Taman TAR and Hillview. In normal traffic, these places area around 20 minutes from KLCC, but are supported by their proximity to the International School of Kuala Lumpur.
Finally, Kemensah Heights and Zooview had a very slow start but are now picking up with number of gated communities springing up in them. Rental yields are excellent, supply is limited and demand looks set to grow.
For investors, the tip is to buy as close to the city centre as your budget allows.
Source: thinkproperty.com newsletter 15th Sept 2008
Several years ago it looked like Ampang would continue to gradually slip, relative to the other exclusive residential suburbs of Kuala Lumpur such as Bangsar and Damansara Heights. The area's traffic and the potential relocation of the embassies there to Putrajaya were concerns.
However, what we have instead seen is a remarkable revival due to a number of factors.
The economic activities and demand for luxury condos in the KLCC area, for one, have directly benefited neighbouring Ampang and encouraged the building of lowrise luxury condominiums benchmarks against the KLCC. And then there is the up-and-coming Duke Highway that will make access from suburbs of Mont' Kiara, Damansara and Petaling Jaya significantly easier.
Traffic is still the issue, but with Ampang becoming increasingly vibrant, people are prepared to accept it. With regards to the embassies moving to Putrajaya, there is still no sign of it happening and they do not play as influential a role as they once did since the KLCC has further fused with Ampang, making demand for properties in the area increasingly KLCC-centered.
Despite recent price increases, rental yields in Ampang are still very strong due to largely to the presence of its growing expat community.
Ampang Hilir and U-Thant - the closest of Ampang's enclaves to the KLCC - are in short of supply of residential units and in my view, this will remain for some time to come. Their closeness to the KLCC and the embassies, the presence of the Duke Highway, the fact that these enclaves cannot expand, and their demand from the expat market which support rents make their properties great long-term investments.
Damai and Titiwangsa are a little further out but now becoming sought after as Ampang Hilir and U-Thant become increasingly expensive.
Deeper down Jalan Ampang are Ukay Heights, Taman TAR and Hillview. In normal traffic, these places area around 20 minutes from KLCC, but are supported by their proximity to the International School of Kuala Lumpur.
Finally, Kemensah Heights and Zooview had a very slow start but are now picking up with number of gated communities springing up in them. Rental yields are excellent, supply is limited and demand looks set to grow.
For investors, the tip is to buy as close to the city centre as your budget allows.
Source: thinkproperty.com newsletter 15th Sept 2008
KLCC IS A GREAT LOCATION TO BUY PROPERTIES
Determine Your Requirements
Whether you look for property online or through an estate agent, having a precise idea of your requirements will greatly assist in finding your dream home. The main criteria are:
1) budget
2) location
3) type of property
4) property size
1) budget
2) location
3) type of property
4) property size
Budget
Your initial budget is the amount of money you are prepared to spend to acquire your property.
Your budget should include:
1) Down payment: the proportion of the purchase price not covered by financing (banks will typically lend 80-90% of the purchase price)
2) Legal fees: 1% for the first RM100,000, 0.5% for the next RM4,900,000
3) Property stamp duty: 1% for the first RM100,000, 2% for the next RM400,000
4) Loan agreement stamp duty: 0.5% of loan amount transfer
5) Disbursement fees include fees for registration of charge, land search and bankruptcy search (RM300–700 in Wilayah Persekutuan and Selangor)
6) Processing fee: one-time fee charged by the financial institution for loan processing (RM50-1,000)
6) Processing fee: one-time fee charged by the financial institution for loan processing (RM50-1,000)
You will also need to think about ongoing costs following acquisition of the property, such as financing costs. As a guide your monthly commitments on paying instalments for your house, car and other payments should not exceed 1/3 of your gross monthly household income. The Base Lending Rate (BLR) is currently 6.75% (most banks offer a small discount to BLR). The length of a loan can range anytime up to 45 years.
Location
Location is critical to your decision so get to know the area properly before buying. You may consider renting for a few months before buying in a new area. The following considerations will affect your choice of location:
1) proximity and access to work
2) proximity and access to schools
3) amenities including shopping, leisure, religious facilities, parks
4) safety
5) prestige
2) proximity and access to schools
3) amenities including shopping, leisure, religious facilities, parks
4) safety
5) prestige
Type of property
The main distinction is between landed and non-landed property. Landed properties include detached, semi-detached, and link houses. Non-landed include condominium units and flats. Apart from your personal preference it is worth bearing in mind that landed properties tend to appreciate more than non-landed properties while non-landed properties tend to give higher rental returns. You should also consider whether you want a basic home which you may want to renovate yourself, an already-renovated home or a new home. You will also need to consider whether you want a freehold or leasehold property. Freehold properties tend to appreciate more and are easier to sell, but if you wish to stay in your property for many years you may prefer a leasehold property as you will be getting a better house for the same money.
Property size
Make a checklist of your requirements:
1) land area
2) built up area
3) number of bedrooms (do you require a bedroom on the ground floor?)
4) number of bathrooms
5) reception rooms
6) size of kitchen
source:www.thinkproperty.com.my
2) built up area
3) number of bedrooms (do you require a bedroom on the ground floor?)
4) number of bathrooms
5) reception rooms
6) size of kitchen
source:www.thinkproperty.com.my
More Arabs Coming To KL
RM35mil to develop Arab City to woo Middle East tourists
By CHRISTINA LOW
MOST major cities of the world have specific exotic areas with the attraction of a strange or foreign cultural environment, with enchanting eating places and charming shopping stalls.
Such places are tourist attractions and are usually designated with nomenclatures like Chinatown or Little India, reflecting the descriptive appellation of activities in the areas. Read more..
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