Right at the heart of Bukit Ceylon is Verticas Residensi, a condominium property consisting of some rather classy serviced apartments. Built by Wing Tai (which seems to be focused on upmarket properties in the city – see Nobleton Crest in Ampang Hilir, Le Nouvel KLCC and The Meritz KLCC), it was completed in 2011. Wing Tai still manages it actively with leasing arrangements with unit owners.
Verticas occupies a rather strategic spot on Ceylon Hill which is now rife with developments, hotels and serviced apartments (notably the new Lanson Place which is less than 100m away and Somerset Seri Bukit Ceylon further down the road). Its residential neighbours are City Gardens condominium and the for-lease-only Regency Tower.
When it was launched, Verticas Residensi units were sold at RM950 per sq. ft – a premium during that time (at the time of this review, launch prices of comparable developments are frequently at RM1,300 PSF; more for branded residences such as RuMa and Banyan Tree). Currently, asking prices range from RM1,000 to RM1,300 psf. This is comparable to another residential property in Bukit Ceylon, One Residency, which sells from RM890 to RM1,300 per sq. ft. To see if these are fair prices to pay, be sure to download the “How Much Is A Property Worth?” e-booklet by clicking here.
Rental rates are also almost the same for both properties; Verticas Residensi rents out from RM3.70 to RM5.20 psf while One Residency lets from RM3.80 to RM4.50 psf.
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Three blocks of condominium apartments and a block of serviced residences make up Verticas Residensi, which is a freehold property. Nestled on nearly 2.5 acres of land in a quiet spot on Jalan Ceylon, which is one of the places considered as an oasis within the city.
Towers A, B and C of Verticas Residensi are 43 storeys high, while Tower D is only five storeys. All in all these blocks house a total of 423 residential units. Unit types are 2-, 3-, 4-, 5-bedroom and penthouses with the following configurations –
- The 2- and 3- bedroom units are sized from 1,427 to 2,564 sqf.
- The 4-bedroom units are sized 2,433 sqf.
- The 5-bedroom units have a built-up size of 3,820 sqf.
- Garden units are sized from 1,842 to 3,013 sqf.
- Penthouses are sized from 3,799 to 4,452 sqf.
The 2- and 3-bedroom units are the first to fully sell out.
Communal facilities are provided to residents such as leisure, wading and lap pools, children’s play area, meeting and reading rooms, barbecue pit, playground, pool deck, jacuzzi, cafe with terrace, pond, sauna/steam bath, shops, yoga room, laundry room, multipurpose hall, car park and a Sky Terrace on the 27th level with a viewing deck that commands a spectacular view of the city and a reflecting pond.
Every unit at Verticas Residency is airy and bright with natural light because of the windows that come with each bedroom and bathroom. However, not all units are afforded majestic views of the city centre – get your agent to show you around – don’t pick a unit with a dodgy view!
Bukit Ceylon – Yay Or Nay?
Bukit Ceylon seems to be rather unfairly overlooked when one goes shopping for city condominiums, and we PropertyReviews.my editors really wonder why. For one, Bukit Ceylon is within walking distance to the famed Bintang Walk and countless of other amenities. Additionally, accessibility is rather good since there are a number of train (Monorail and LRT) stations which are reachable by foot.
Additionally, Ceylon Hill can be quiet and serene even if it’s located in the centre of the city. The apartments here are aging rather quickly, but Verticas Residensi (and Lanson Place) are probably going to bring the area back to life. We expect more buzz from this area in the future.
We like Verticas because it’s near Nerovivo which serves possibly the best pasta in the whole of Kuala Lumpur. OK, jokes aside, we like it that the Verticas is centrally located, occupying a prime spot on Bukit Ceylon which is one of the best locations in the city.
Wing Tai is a niche upmarket developer with a strong reputation, and Verticas indeed does not disappoint. However, the price remains a contentious point among investors; at prices above the pivotal RM1,000 PSF there’s probably not too much upside at least in the short term. Perhaps it’s rather unfair that Ceylon Hill properties are not deemed to be as prestigious as those at KLCC or on the Ambassador’s Row, but the market prices speak for themselves. A shame, really, because Verticas should do really well for what it offers.
After everything’s said and done, it all boils down to one factor – the price that you pay. Estimate the “fair market price” for Verticas Residensi using this simple method which we share here (do not overpay!) – you’ll thank us later :). Enter your email address below so that we can email you a free copy of the report –