Alright, we all know that despite its growing reputation as a high density enclave, a concrete jungle and a congregation of greedy developers milking every acre for maximum profits, the Mont Kiara address is still synonymous to prestige, class, and luxury. For this reason, we can forgive its shortcomings even though apparently the glut situation is getting worse as we type this…
The newer projects in Mont Kiara seem to be better built with distinct differentiation (which is a markedly different approach compared to the approach of an earlier generation developer – no, I won’t name it! – where churning out condominium buildings in record speed was the order of the day). One of these condominiums is the Verve Suites Mont Kiara, a residential apartment that is built on nearly six acres of freehold land, right in the heart of Jalan Kiara 5 in Mont Kiara. This makes the editors of PropertyReviews.my love Mont Kiara even more 🙂
Verve Suites is developed by Bukit Kiara Properties, a well-established property developer responsible for many luxurious residential and commercial buildings and properties. Properties developed by Bukit Kiara Properties (also known popularly as BKP) include Hijauan Kiara and Aman Kiara, both also in the Mont Kiara enclave. Incidentally, Verve Suites is just next to Hijauan Kiara on Jalan Kiara 5.
Residential development is indeed BKP’s bread and butter – at the time of writing this review, there are plans to launch a “sister” development on Jalan Tun Razak, dubbed the Verve Suites, KLCC. There’s already “another” Verve Suites on Old Klang Road (dubbed “Verve Suites KL South” which perhaps is more marketable than “Verve Suites Old Klang Road”) – which we have also reviewed here.
Unit Size, Design, and Structure
The Verve Suites is composed of four towers, interestingly named Viva, Vibe, Vogue, and Vox. There are 881 units in total. Each tower has different storeys – 36, 27, 41, and 37, respectively.
Built-up areas are as follows:
- Viva Tower – One bedroom units start at 633 square feet. Two bedroom units range from 826 square feet to 861 square feet.
- Vogue and Vox Tower – A typical one bedroom unit at these towers starts at 462 square feet. For two bedroom units, sizes start at 926 square feet to 932 square feet.
- Vibe Tower – This tower houses larger and more spacious one bedroom units. A one bedroom unit measures for about 633 square feet to 672 square feet. On the other hand, two bedroom units measure at 861 square feet.
Viva, Vogue and Vibe have been fully sold, and enjoys a rather high occupancy rates (by Mont Kiara standards at least) between 70% and 80%. Vox is the last tower to be built and as it stands (during the publication of this review), 95% has been sold. Not too shabby considering that the glut condition of Mont Kiara is not getting better by the day. 🙂
Another Verve Suites’ “selling point” would be its furnishings. All appliances that come with each furnished unit are made by Bosch. We have also personally visited the units, and they are indeed quite tastefully designed.
The table below summarizes Verve Suites’ vital statistics –
|Name||Verve Suites Mont Kiara|
|GoodPlace Walkability Score||70|
|Rental||RM1,700 - RM7.000|
|Subsale||RM1,043 PSF (Transacted)|
Here’s a breakdown on the apartment’s facilities and amenities:
- Sky beach! Rather unique, I must say. 🙂
- A panoramic view of Mont Kiara for units
- A wet and dry reflexology path
- A 4,000 square feet sky viewing terrace
- A massive sky garden
- Outdoor cinemas
- Indoor and outdoor gymnasiums
- Tennis, squash, and badminton courts
- A heated swimming pool, a jet pool, and a children’s pool
- A landscaped garden
- Covered car parks
- Jacuzzi sundecks
- 24 hour security complete with access cards
Phew. My eyes got tired after rereading all that. 😀
There’s also a 6,000 square feet penthouse that is built exclusively for residents. This lounge, called Vertigo, a theatre, a gymnasium, a Jacuzzi, sauna, games room, and a pool table. Comfortable and plush seats are available, as well as a reading room. The lounge is located on the 35th floor.
Verve Suites Pricing Schemes and Trends
After listing all those facilities, it’s safe to assume that with it comes a price tag that’s off the charts. When the first tower was launched (that was way back in 2006), the price as RM600 psf – almost unimaginable today. This price remained steady until mid-June 2011, wherein prices skyrocketed to ~RM1,200 per square feet. Early 2012 saw prices dropping to RM850 per square feet, then hitting the RM1,000 mark by the end of 2012. Currently, its listed sub-sale price starts at RM950 to RM1,250 per square feet. This is comparable even to the condominiums in the KLCC area.
Rental yields are reportedly 7-9% with rates ranging from RM4.50 to RM6+ PSF depending on furnishings, level height and views. However, from what we gathered on the ground by talking to some agents, there’s a considerable amount of available units as you can also probably see from the proliferation of ads in the local property portals. As any experienced buyer would tell you, not all listings are legitimate, and so please do exercise caution when you actually “shop” around at those sites.
The chart below tracks the asking price for the Verve Suites for the past few months –
First things first; Verve Suites firmly entrenches itself in the upper tier as far as pricing goes (in terms of PSF at least); there are not many Mont Kiara condominiums which breaches the RM1,000 PSF point (no, not even the likes of MK10 and MK11). However, given the small-ish sizes of the units (less than 1,000 square feet) the total prices are still sub RM1 million which means that the flippers may turn out in full force for this project. Something to bear in mind.
Quality-wise, we are happy to report that BKP has indeed spared no expense (and effort) to incorporate bells and whistles into the project. Indeed, Verve Suites has a strong differentiating factor (small units, nice trimmings and a sky beach!) which means that it may have the upper hand in the sub sale and rental market.
Despite its location away from what’s deemed to be the “first tier” of Mont Kiara properties along Jalan Kiara, Verve is rightly claiming its place among the upper tier properties in this high end enclave, having priced exceeding the RM1,000 PSF price point. Your investment will hinge on how much you pay for a unit here in the first place. To find out the price that you SHOULD be paying (and this will give you the facts to BARGAIN DOWN the asking price), you must know what’s the latest transacted prices are.