I have been telling everyone that my forte is ultimately and geographically within Klang Valley. Ask me anywhere outside – let it be Ipoh, Kampar, Penang etc… I am perhaps as clueless as you are. But within Klang Valley… I reckon I can give some rather good recommendations on WHERE TO BUY if you are looking for a property.
A personal favourite is always Bangsar area. In my opinion, whether you are buying to stay or to invest, you really cant go wrong with Bangsar. Being in between Kuala Lumpur and Petaling Jaya gives Bangsar a great advantage in terms of location; and ideally, the surroundings, the people… it is a vibrant place, and a vibrant crowd. I would reckon that properties within Bangsar area… should ultimately hit RM700-900 psf for bungalow lands, and within the next 3-5 years, reach a support level of RM1,500-1,700 psf for a new high end condominium.
One Menerung, an upscale condominium development behind BSC
Another favourited location is the Old Klang Road area. Recent launches such as Saville Residence are fetching prices of RM450-500 psf – with units going for at least RM550,000 now – which to me feels like a very good entry level price for a 1,250 sf unit. In my opinion, the prices should shoot up to at least RM800-900 psf within the next 3-5 years, making this a choice investment for investors.
A dark horse location to invest in remains at Mont Kiara. As far as the expat market is concerned, I think that is rather slow though – so dont put too high hopes on the expat market for your rental yields in the area. I would put my money in Mont Kiara in the smaller units; units sized between 500-800 sf remains attractive to investors as the entry costs are still within reach, and the rental yields remain good for the smaller units. Units are going from RM900-1,000 psf for these smaller sized units – so I would think, if you can find units going at below RM800psf for the smaller units with good facilities, it is indeed a no-brainer to snap it up. Once the Bangsar area hits RM1,500psf, I think Mont Kiara properties should comfortably hover around RM1,200-1,300psf.
Cyberjaya, a future investment stronghold
Other dark horse locations include Cyberjaya, as well as places around Damansara Perdana/Mutiara Damansara area. Prices in Cyberjaya would move, but it will take quite awhile before you really experience a massive capital appreciation. Damansara Perdana/Mutiara Damansara remains a choiced location due to its easy accessibility to LDP and the vibrant community living within the area.