On our quest for low density properties in sprawling green estates, we have found Bangsar Putri. It's one of those grand old places like Kampung Warisan and Desa Kudalari. Like both these green icons, Bangsar Putri is around 20 years old. For sure, there will be nothing like this with this kind of space going to be built in KL anymore.
Bangsar Putri sits on about 5 acres and consists of a tower and low rise 4-5 storey condominiums. It is extremely low density with only 200 odd units, majority of which are 1000+sf 2 bedroom units and some bigger units. Most of those available in the subsale are the low rise units facing the highway and Damansara Heights. They are valued at around RM450k. As you can see from below, the views from these units aren't fantastic and there is some amount of noise as well but those in the lower units aren't affected as much as the higher ones.
At RM450k, it is still pushing one's luck to try and rent these out for at least RM3000/month since they are only 2 bedrooms. The maintenance fees are high here, set at RM414/unit irrespective of size. The larger 3 bedroom units here are mainly in the tower and they are priced from RM650k onwards, which makes more sense economically - that is if you can find a reasonable unit for sale. Some owners are even asking for RM800k!
These 2 bedroom units don't look and feel like they have 1000sf of space. The kitchen above feels a bit cramped. The space is likely to be taken up the large balcony below.
The dining and living area also feels a bit small and the ceiling is low.
The master bedroom however feels a little bit more spacious than the 2nd bedroom below, which have only as much space for a double bed and a large wardrobe..
There is an adjoining bathroom to the master bedroom with a very cosy shower booth. It might be a big struggle to put a large person in there and without windows, can get extremely stuffy.
Interestingly, the 2nd bathroom feels a bit more spacious..
I think the stuffy feel owes much to the design. Although low depnsity, as you come into the lift lobby, you find only 4 units per floor but as you come in through your door, there is that claustrophobic feel and darkness due to the entrance being blocked by the kitchen.
In Bangsar Putri, the space is outdoors...
The popular units are those that faces inside, with fantastic greenery and a community feel.
I hear these units are snapped up as they come into the market. While agents tout prices starting from RM450k and rentals start from RM3000/month, I suspect the RM450k are those quoted for units facing the highway and the higher rentals are for those facing the gardens. I think unless with some major renovations done, it will be extremely difficult to fetch anything higher than RM3000/month.
Facilities are good, though looking a bit tired. It feels a bit like a country club with a nice old classical bar complete with snooker table and swimming pool - but it's actually more like a paddling pool...
Despite the small-ish pool, not many condos these days can boast of a tennis court due to the lack of space..
...and there're plenty of space for young children to run around. With the hefty sum in maintenance fees, the grounds are very well maintained.
And a population coming from only 200 odd units, I am curious how the big restaurant make it...
Facilities are mainly located downstairs of the tower block below and there are even shops, including a laundreatte within to serve this small community.
There's another place like this close by in Bangsar called Bangsar Indah. We'll pay a visit next time we can find a unit for sale there. But unlike Bangsar Putri, Bangsar Indah is leasehold...
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a friend of a friend who lives there had his apartment burgled during office hours. although there were people in the neighboring units, no one heard a thing. the job was professionally executed and well timed. apparently there is a spate of such burglaries in the development. the good thing was that the management was able to make a claim on its insurance to compensate the owner. but i don't know if this can be repeated if there are other break ins over time.
sinleong, do you have any experience investing in Bangsar area? Are there still enough expat tenants here, because I doubt local tenants want to pay RM3k and up for rent here.
i dont have anything in bangsar but im sure there will still be a market. i remember 2 years back a french guy responded to my ad with a budget of RM3k and above. i showed him everything i've got in KL city center but he still insisted he wants bangsar... so there u go...
I was talking to some agents and they let out 1 slip, that expat tenants move around. After staying 1 year in 1 condo, they then look for another one nearby to move, either for better rent or just to change the look and feel. And because Bangsar condos rent out fully-furnished, all they have to do is pack their clothes and books and voila! a new home. Gives me the impression that occupancy is way below capacity.
i know some agents who are into this game. few years ago, i got a tenant from this agent. after staying for less than a year, the tenant wants to move. the agent was helping the tenant to persuade me to refund the deposit with all sorts of excuses. apparently the tenant had to go back to his home country for some reason. luckily i didnt because later i found out he just moved to another apartment which the agent found for him. i asked the tenant why dont he just get the deposit back from the agent's fees
sinleong, I am looking for condo in KL/PJ below 400k, with good potential for appreciation within 2 years (100k). Seems impossible right? Appreciate any advice, if you don't mind?
if u dont mind leasehold, there are quite a few picks around kelana jaya ss7. when the paradigm mall opens, the profile of the place should go up. i think kelana putera is one of the few better ones priced below 400k...
Hmmm, I have never touched leasehold. No confidence on the resale as many investors would be like me. You mean Paragon mall, right? Wonder if there is anything freehold around there.
Or any other freehold options?
Hi sinleong, just did a prelim check, Shang Villa and Kelana Sentral are freehold.
not sure about kelana sentral but shang villa is definitely leasehold
try gcb court in jalan ampang...somewhat similar in terms of space and density.
Just went for a viewing last Saturday 05/05/2012... The asking price is RM880k! Would you believe that??
Sure it's nice and boast 1700 sqft, furnished and kitchen + bathrooms done up real nice but it still faces the highway. Really noisy - and this was Saturday morning 10:30am!
It cannot hide its age on the outside but inside was tastefully done, modern and new... But even at RM800k I would still think long and hard about this place. I think Bangsar Puteri is only worth RM400 psf at most. So if it was RM650k ish or thereabouts I would've taken it.
Everything's just so overpriced these days. With expats are leaving the country, loans are harder to get and all... I think it's worth waiting until the market realises these silly prices are not viable anymore.
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