One of Bandar Raya Development Bhd (BRDB)’s earlier developments in the luxury residential niche is Contessa in the affluent Bangsar enclave. A low-density freehold property that has that certain “old world” charm, the Contessa is made up of two seven storey blocks and sits on Jalan Kapas in the heart of Bangsar. Its neighbours are The Loft (review), Impian Emas, Sri Bayu and Sri Bidari.
BRDB is one of the country’s most reputable property development firms. Among their most notable projects include Bangsar Hill, CapSquare Residences, One Menerung (review), The Troika in KLCC and Verdana in the Mont Kiara enclave. The other notable BRDB project in Bangsar which is fairly new is Serai Bukit Bandaraya – barely 500m away from Contessa.
On the average, current asking price for units at Contessa is pegged at RM500 psf. This is relatively low, comparing it to other properties in the enclave, which sells from RM650 to RM1,000 psf. Even compared to older properties, Contessa still has the lowest asking price. Bayu Angkasa, on the average, sells for RM590 psf while Impian Emas goes for an average of RM600 psf. To determine if these are “fair prices”, check out our valuation guide.
As for rentals, Contessa’s average rate is RM2.60, which is the same with Bayu Angkasa. Rental rates at Impian Emas are slightly higher and are pegged at an average of RM3.30 psf.
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Living in Contessa
Units at the Contessa have built-up sizes from 1,571 sqf.
Quite recently, major refurbishments had been done on common areas such as the corridors and lifts. The landscaping was also upgraded. The condominium’s management is a very active group that ensures house rules are followed strictly to maintain the integrity of the property. The group has come up with a website of their own where they post bulletins and the website is updated regularly – check it out here.
Amenities are located close by. In fact, if you are fond of walking, you can go to Bangsar Shopping Centre on foot! Other basic amenities within short distances from Contessa are schools, hospitals and clinics, restaurants, shopping centres, the Bangsar Sports Complex and the Kuala Lumpur Golf Club.
Contessa’s asking price may be lower compared to other properties in the area, but this may either be a disadvantage or an advantage for the buyer. If anything is priced too low or too high, one should be asking why. In the case of Contessa, it is said that unit owners are selling their units at low prices because of the hefty dues of the condominium. We could not really blame Contessa for the high dues because that is what it takes to be living in a low-density property, lest maintenance of the facilities (or worse, the security) is compromised.
If you are planning on investing on a property that you would later on rent out, then you can take advantage of the low asking price of Contessa. However, if you are planning on buying and living in it long-term, you should be willing to shell out extra for high condominium dues.
BRDB seems to have totally shifted into some really high end residential property designs after Contessa. As of writing, BRDB’s online portfolio does not have Contessa in it. Either it has sold it to a new owner or it is veering away from the ‘stigma’ of high maintenance costs that Contessa carries with its name.
Overall, we think that Contessa would be an okay choice if you are considering to have it rented out, as it would generate income for you (but still, you have to take into consideration that getting a tenant may be a challenge). Otherwise, you should be looking into other properties in the area which are priced slightly higher but give you the best value for your money.