Monday, February 23, 2009

Sri Raja Chulan @ Bukit Ceylon

Here's another property in the Bukit Ceylon series. It is situated at the top of Changkat Bukit Bintang, the well known playground and drinking holes of many KL expatriates. And it is directly opposite Menara Bukit Ceylon. Similar to Menara Bukit Ceylon, Sri Raja Chulan consists of only 3 bedroom units or 2+1 bedroom units (the +1 being the small-ish study room) about 1500sf each. So, Sri Raja Chulan is the direct competitor of Menara Bukit Ceylon.
So, I will start by making a direct comparison between the 2:
1. Although facing each other, Menara Bukit Ceylon (MBC)'s location is a lot better. Sri Raja Chulan (SRC)'s entrance directly faces Jalan Ceylon and it is snap bang in the middle of the cross junction - this is not so good feng shui wise
2. MBC has unblocked views while SRC's views are mainly blocked by Seri Bukit Ceylon and Downtown condo
picture above: Units facing Somerset are dark and gloomy

3. MBS has better facilities - bigger swimming pool, squash court etc. SRC's swimming pool is tiny. Both have terribly equipped gyms.
picture above: The very tiny swimming pool
4. SRC is lower density - 4 units per floor compared with MBC's 6. SRC has 2 serving lifts while MBC has 3. 2 lifts serving 92 units vs 3 lifts serving 138 units makes a world of difference
5. SRC has formed a management committee while MBC is still struggling to do it

6. The lift lobby on the residential floors of MBC is dark and gloomy while SRC's is bright and breezy - SRC is open concept

In terms of price, both MBC and SRC's prices ranges from RM500k to RM700k. Rental ranges from RM3500/month to RM4500/month for both MBC and SRC. The cheaper units are usually those with worse views. Also, most owners are 1st buyers who have settled their loans ages ago. They would have also bought their units for less than half of what it's worth today. So, there is less chance of finding a fire sale here although 1 nice unit at MBC was released at RM480k just last month. Those facing Downtown condo and Seri Bukit Ceylon are really dark and gloomy as all natural light is blocked by the 2 buildings. The best units are those facing Jalan Alor with views of Times Square.
There don't appear to be many vacant units in both buildings. I think as long as the rental stays low, there is less competition from big 2 -3 bedroom units in other newer properties who are asking for > RM5000/month.
Below are some rare pictures of the Penthouse unit. The Penthouses are duplex units almost 3000sf in total. The lower floor consists of the bright and airy kitchen, living room, a large study and dining. Upstairs houses 3 large bedrooms. There are 4 penthouses, each of them normally rented for about RM10,000/month.


Syamsulfaiz said...

I stumbled onto your blog whilst surfing for real estate articles. You are the man bro !

Keep up the passion. I am a fan now.

fyi I am a young guy who is interested to start on property investment.

Anonymous said...

sinleong - came across on your excellent blog. in your opinion what would be a good entry price into seri raja chulan now given current market condition. The unit I am eyeing is infair condition mid floor facing changkat raja chulan.