The Setapak Green is a 26-storey condominium is located in one of Kuala Lumpur’s more established (read:older) neighborhoods, Setapak. About five kilometers away from the Kuala Lumpur City Center, Setapak Green has a commanding view of the Petronas Twin Towers on one side and of Genting Highlands on another side. Its proximity to the city center affords residents of Setapak countless options for dining, education, health, recreation and one of Malaysian’s favorite hobbies – shopping. The enclave is well linked to major highways and is easily accessible via private and public transportation.
This freehold property is another upscale development from UOA – the same guys behind Desa Bangsar Ria, Prima Setapak II, The Park Residences, Camellia Serviced Suites (Bangsar South), Desa Eight (Taman Desa) and PropertyReviews.my favorite – Villa Mont Kiara. UOA is also a listed entity which means that they won’t mess up their projects given the high visibility and the propensity to screw up its share price 😉
As of writing this review, asking prices for units at Setapak Green are pegged at a range of RM400 psf to RM520 psf. This range is comparable to 222 Residency, which has asking prices from RM430 psf to RM500 psf. These prices are higher when compared to Heritage, which sells from only RM260 psf to RM320 psf. Rental rates do not differ much, with 222 Residency yielding the highest rates at RM1.40 psf to RM2.50 psf. Setapak Green and Heritage units are let from RM1.20 psf to RM1.80 psf and from RM1.30 psf to RM1.60 psf, respectively. Find out what’s the fair market price for Setapak Green using this 20+ page downloadable guide which you can get for free by clicking this link.
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Living Spaces at Setapak Green
Setapak Green is made up of a single block of 26 storeys that house a total of 445 residential units, spread over some 4.5 acres of land. The units have built-up sizes four built-up sizes:
- Type A units are sized 1,423 sqf and has 3+1 bedrooms and 3 bathrooms.
- Type B has the smallest built-up size at 1,362 sqf. This unit also has 3+1 bedrooms and 3 bathrooms.
- Type C is the biggest, with a built-up size of 1,588 sqf. This has 3+2 bedrooms and 3 bathrooms.
- Type D, at 1,530 sqf, have 3+1 bedrooms, 3 bathrooms and 2 balconies. One balcony is in the living room and the other in the master bedroom.
The bog standard facilities include swimming and wading pools, reflexology path, kids’ playground, garden on the rooftop, gym, games room, function room, multipurpose hall, snack bar, barbecue pit, covered carpark, mini grocery store, and salon. An intercom system is also in use and round-the-clock security is also provided.
If you are looking into investing on a property for your personal use in Setapak, many seem to think that either Setapak Green or 222 Residency will give you the best bang for your buck. These are new and exclusive properties, while Heritage is a bit old (and run down, according to some). However, we are more inclined to the side of 222 Residency because the structure looks more modern, the asking prices are slightly lower and it is less dense (222 Residency has only 222 units while Setapak Green has 445).
If you are, however, looking into buying a property to rent out for an income, Heritage is not too bad a choice. Buying a unit at Heritage does not require you to spend a fortune, but still commands rental rates similar to newer projects. This property is also close to schools and may be appealing to students studying in these schools.
PropertyReviews.my is also a fan of UOA despite its rather unfair tag as a “government-linked slumbering developer”; the fact that it’s listed and its rather strong portfolio puts it miles ahead of your typical small-time developer in the form of Syarikat Pembinaan Lee Soon Huat Dan Rakan Rakan (OK, I made the name up – any resemblance to anyone or anything is purely coincidental).
All in all, it depends on what your investment objectives are, or if you’re buying for your own stay. In any case, the price will be an important factor in driving the returns of this investment. Don’t overpay or pay above the fair market price – use this price valuation method which we will show you for free in this guide prepared by GoodPlace.my –