If you need a lot of space for your condo home, but you are not quite willing to pay up so much (on a per square feet basis relative to other Mont Kiara condominiums), then maybe a unit at Kiara 3 (also known as Aston Kiara 3) is suitable for you. You’d be so much happier to know that the there is even more space for you to enjoy on each floor.
You see, Kiara 3 was made to be the only low-density complex in all of Mont Kiara (although we do not know if this is true any longer). The single-block complex that makes up Kiara 3 might not have so much space around it for all the posh amenities like in other condos around it but the whole tower has so much to offer its few residents.
Kiara 3 Prices – Why So… Low?
As the median price per square feet for Mont Kiara condominiums are etching to RM1,000 PSF levels (quite unthinkable even a few years ago), Kiara 3 may seen to be reasonably cheap at RM550-600 PSF (asking prices at the time of the publication of this review here at PropertyReviews.my). At that rate, you can get a pretty big unit of 1,598 sf for less than a million – something you’d have gotten for over a million elsewhere. If you’re wondering why, then chances are that you’ve never been to this area physically… 😉
Now here’s the catch…
Aston Kiara 3 is where Jalan Segambut is (and where Jalan Kiara 3 technically ends), and this means that while other condominiums in Mont Kiara are typically nested together, Kiara 3 (at this moment) stands tall amongst dilapidated houses and squatter areas. This means that for a tenant to get home, he or she would have to drive through the villages. You may not mind this, but some people do. 🙂
Now once you factor this in, then you might understand why prices are below the median, but we are still unsure if this asking price reflects the fair market value. To check for yourself, download this rather handy guide – free courtesy of GoodPlace.my. G’wan, do it 🙂
The following chart shows the trended asking prices for Kiara 3 for the past few months –
Aston Kiara 3 – The Configuration
Now if you can look past the fact that you’ll be in Segambut rather than in “Mont Kiara” proper, then check out what’s in store for you. Kiara 3’s 22-storey building is composed of only 160 spacious units; and only 8 units (except on the 16th floor where there are only seven units) share its floor. If you need privacy, this is the best type of setup for you. The third floor houses all its flagship amenities, including the gym, the swimming pool, and their fancy-sounding reading room. The first two floors serve as the building’s parking bays.
However, as if in perfect irony, Kiara 3 – no matter how spacious it seems on the inside – is actually located in a heavily populated area. It sits at the end of Jalan Kiara, almost at Jalan Segambut which is close to a whole barrage of villages. That could only mean these: traffic and less exclusivity. And these are the exact same things that (may) hinder the appreciation value of these properties from going up. If you can live with all the noise and the congestion in the area, that should not be a problem and the price would be a bonus.
The great thing about Kiara 3, apart from the spaaaace, there are tons of types of units to choose from. That’s 160 really different units – with different views, different dimensions, and different characters all bound to suit whatever lifestyles. Basically, the units here measure 1,518 sf and 1,598 sf – type 1 and type 2 measures 1,598 sf, with an open layout and 3 bedrooms. The master bedroom comes with its own bedroom while the other 2 bedrooms share access to a bathroom. Meanwhile, residents of Type 3 and 5 units get their very own refreshing lanais in their units – a very great way to enjoy the view of the pool and the green hills surrounding the area.
This freehold property has a lot of character and is exclusive for the most part. But you’d have to be willing to contend with the heavy human and car congestion in the public areas. And the sight of, well, squatter areas…
The following table shows Kiara 3’s vital statistics in all the glory you’d expect…
|GoodPlace Walkability Score||61|
|Rental||RM2,800 - RM3,200|
|Subsale||RM544 PSF (Transacted)|
Kiara 3’s location will be one of the factors that will break the deal, unfortunately. There are many prospective buyers which we spoke to who said that they would adopt a “wait and see” attitude, especially if the villages get en-bloc-ed (haha) for new developments to take place. And given that there are just so many choices in the Mont Kiara enclave (and also up north where posh condominiums like Icon Residence, Concerto and Verdana are being launched) Kiara 3 will need a strong differentiator to overcome the “located-in-between-village-shacks” stigma.
Now if you’re a betting man (or woman) then you might want to grab a unit here (while it’s still relatively “cheap”) and wait for the area to be completely transformed into a high end condominium enclave. But that would take years. Or decades. Don’t know, man. If you’re trying to figure out the fair price for Kiara 3, you could be benchmarking against the likes of Kiara 9 and Kiara 1888 which is about 50m away (but located on the “proper” Jalan Kiara 3).