Located in the outskirts of Keramat, some fifteen minutes away from the Kuala Lumpur City Centre, is Gurney Heights, a freehold condominium completed in 2002 by Mampu Jaya. Sitting on Jalan Bukit Keramat, it neighbours Lanai Gurney and surrounded by local villages, apartments and army living quarters. Keramat houses local villages, or kampung, and basically observe local Malay lifestyle.
Gurney Heights is a property that is made up of two 23-storey blocks. Units at Gurney Heights have built-up sizes from 1,118 square feet. Residents are said to be 70% Malays and the rest are a mix of Chinese, Indians, Eurasians, Koreans and Arabs. Standard facilities such as mini market, swimming pool, barbecue pit, business centre, parking, gym and clubhouse are available for use of the tenants. Security is also provided 24 hours a day.
This neighborhood is serviced by 3 LRT stations – Dato Keramat, Damai and Jelatek – and other public transportation so commuting is not a problem. It is also within short distances to a lot of amenities like schools, wet & dry market and shopping centres.
Current listings for Gurney Heights indicate that selling prices range from RM300 to RM620 psf, depending on the size and condition of the units. For comparison purposes, listings for Lanai Gurney are from RM280 to RM390 psf. We cannot image any transactions happening at post RM300+ PSF levels – although a JPPH search would confirm this (for a guide on how to do this, click here). On the average, rental rates for Gurney Heights and Lanai Gurney are RM2.00 psf and RM2.00-RM2.50 psf, respectively.
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What We Think
Because of rampant issues on shoddy developments in Malaysia, developer reputation is a strong consideration among home buyers and property investors in Malaysia. Gurney Heights’ developer, Mampu Jaya is already defunct. Or reincarnated as Tak Mampu Gagal. *snigger*
Jokes aside – we have heard about poor maintenance and also low quality materials used during construction, but these are anecdotal at best. There have been not-so-good reports about Gurney Heights but it is not all that bad. For one, its maintenance fees are lower compared to Lanai Gurney. The parking rentals are also reported to have been reduced by half. Lanai Gurney, on the other hand, has reportedly high maintenance fees. In terms of tenants, both Gurney Heights and Lanai Gurney have mixed tenants, so you don’t have much of a choice in that aspect.
Additionally, if you are expecting to live in an exclusive neighborhood, then Keramat may not be the best place for you. Keramat is for those who are looking into experiencing or are used to living the local lifestyle. If and when you decide to live in Keramat, Gurney Heights and Lanai Gurney are your two best options. Location-wise, both Gurney Heights and Lanai Gurney are centrally-located.
We think that if you are planning to live in the unit that you are purchasing, Lanai Gurney might be a better option. That is, if you are ready to shell out more on maintenance fees. But if you are looking to buy a unit as an investment that would yield income through having it leased, then a good deal Gurney Heights unit would be perfect. However, it all still depends if you can secure a unit below the market price for quick profit. We’ll show you how to do this in this “how to value a property” e-guide which you can download after entering your details below…