During its heydays, it would seemed that Sunrise couldn’t run out of tricks to pull out from its hat. After a string of rather successful high-end condominiums in the Mont Kiara vicinity comes The Residence at Mont Kiara, a low-density development located in Jalan Kiara 2 (between Mont Kiara Aman and Mont Kiara Damai).
This landed and gated residential development made up of 47 bungalow units and twelve condo villas. It is also known as one of the two landed projects in central Mont Kiara (the other being the exquisite Villa Mont Kiara). The Residence At Mont Kiara is freehold property.
Among a very small handful of landed development in Mont Kiara, The Residence consists of bungalows and villas. Bungalow lots have built-up areas that range from 6,811 to 9,827 square feet. Yep, size does matter, kiddos.
Like other Sunrise developments, The Residence offers a high-profile style of living. Amenities and facilities, all neatly wrapped in a neat package, will keep residents busy and active. Residents can enjoy gatherings and parties at the clubhouse. There is also a swimming pool and a wading pool. Some units would come with a private swimming pool, as well as an entertainment deck, and water features. Amenities seem to be a notch higher than that found at the condominiums at the area.
Being a gated community will only increase the property’s take on security which is a notch higher than the usual cookie cutter Mont Kiara condominium. In fact, it has one of the best security systems for gated and guarded communities in the Mont Kiara vicinity. The Residence has a 24-hour security system which includes CCTV monitoring, Strict Card Access Control System, home security alarm system, and a video intercom system.
The table below outlines The Residence’s most salient details –
|Name||The Residence At Mont Kiara|
|GoodPlace Walkability Score||68|
|Rental||RM23,500 - RM30,500|
|Subsale||RM1,150 PSF (Asking)|
If Ringgit Grew on Trees…
Make no mistake about it – The Residence definitely targets the more affluent individuals and families. Mont Kiara, as we all know, has established itself as an upmarket enclave over the years and properties which are located in the area mostly carry a hefty price tag.
In The Residence’s case, it’s pretty evident. Transacted prices that were recorded on an earlier date showed an increasing price trend for the past few years, circa the $1,000 PSF level (which is of no surprise, being landed, freehold, and in the middle of Mont Kiara).
The entry point (pricing wise) is definitely high; with the smallest units around 7,000 square feet we are looking at a whopping RM7 million even for its “entry level” units. Not for the beginner investor, that’s for sure. The PSF price is also comparatively high compared to other landed properties in Mont Kiara (notably Villa Mont Kiara, the semi-d units at Lumina Kiara, Villa Aseana). To estimate the fair market value of a unit at The Residence, use our handy little valuation guide. Click here for your free copy.
For a trended analysis of the asking prices for the last couple of months, use the chart below –
What We Think
Gated communities are becoming a hit nowadays – this is evident in the rising number of developers opting to develop luxurious bungalow units or link houses in the Kuala Lumpur vicinity. However, while the concept is appealing to most Malaysians, not many will be able to afford to live on landed properties in upmarket enclaves like Mont Kiara, KLCC or Bangsar. The market will remain niche.
The Residence seems to be fulfilling the needs of a particular niche, as not every potential Mont Kiara prospect would like a condominium setting and would instead opt for a more homely ambiance and a traditional style of living. There are not a lot of choices when it comes to Mont Kiara landed properties (other options that come to mind immediately are Villa Mont Kiara, Lumina Kiara and Villa Aseana), which means that those who want The Residence @Mont Kiara will need to fork out a small fortune.
Finally, it’s worth noting that the potential prospect for The Residence (both for sale or for rent) will also likely to consider other places such as Duta Tropika or Duta Nusantara in the eastern side of Mont Kiara, or out of the enclave altogether (Damansara Heights and Kenny Hills come to mind). As such, pricing will be pegged at a relative rate to these places.