Mont Kiara Palma

Located right smack in the middle of Mont Kiara is Mont Kiara Palma, another condominium by “churn-these-Mont-Kiara-condos-out-like-there’s-no-tomorrow” Sunrise. As with the other “older” condominiums inside the enclave, the Palma enjoys a superior location which means that almost every important amenity is reachable by foot. In fact, the Palma scores rather high on GoodPlace.my’s Walkability Score chart, with a score of 88 (on a scale from 0 to 100, with the latter being the maximum). This is comparable to many condominiums in the KLCC area.

The condominium comprises of two towers, each with 36 stories. Residential units are 402 in total. Located off Jalan Kiara, Mont Kiara Palma is within the cluster of condominiums consisting of Pelangi, Sophia, Astana, Damai as well as MK10 and MK11.

The two towers of Mont Kiara Palma, each having 36 storeys and housing a total of 402 condominium units.

In general, the entire Mont Kiara vicinity is attractive to expats, and while Mont Kiara Palma does not distinguish itself appearance-wise, its location is killer. It has been reported that the condominium’ s occupants are mostly foreigners which is not surprising, as the condominium has definitely established itself as one of Mont Kiara’s top choices, despite its age.

Below is the concise datasheet for this condominium –

Condo Champ…?

It’ s interesting to know that the condominium has once been tagged as the ‘Condo Champ’ in 2007‘. I guess these two words are all you have to know if you are still unsure of whether to invest on a unit or live in one. 😉 It’ s easy to see why’ the condominium’ s dedication to cleanliness and environment preservation are much appreciated by its residents.

Mont Kiara Palma was tagged as “Condo Champ” in 2007 and has received recognition from the Kuala Lumpur City Hall under the Beauty and Cleanliness Condominium category.

The condominium’ s commitment to the environment comes in the form of a refuse room’ an exclusive space for residents to get the chance to recycle. It has also received top honours in the Beauty and Cleanliness Condominium category from the local city council (Kuala Lumpur City Hall).

Its surrounding gardens and greenery surely invite tranquil and calm to residents. It also offers a great view that provides the best backdrop for relaxation and unwinding. There is a man-made lake that is surrounded by landscaped footpaths. There are also coconut trees which line the area, as well as pandanas, and birds of paradise. The scene is exquisite, as residents get the best of both worlds’ the beauty of nature and the conveniences of modern living.

Mont Kiara Palma Pricing

It’ s hard to imagine that in 2002, the Condo Champ’ s units were priced at only RM350+ per square feet! With the recent rise of Mont Kiara (after the dry spell starting from 2008 onwards), it’ s not going to be surprising that with it comes the increase of the condominium’ s prices.

A typical unit at the Mont Kiara Palma measures 1,400 square feet. Unit prices had risen to about ~RM450 per square feet in 2007, and stayed within the RM400-450 PSF range from 2008-2010. Prices gradually rose during those years that followed, with it hitting RM500+ per square feet by the end of 2012.

The chart below shows the trend of the asking prices of Palma as we have collected for the past few months –

Activities, Facilities, and Amenities

The Palma seems to have a “resort”-ish feel to it; it definitely packs a whole lot of activities for its residents to enjoy. Its squash and tennis courts could definitely help change lifestyles from passive to active. Its swimming pools can be really tempting during those hot, sunny KL afternoons. There is also a gymnasium to keep active bodies fit, as well as a jogging track, and a barbecue area, a clubhouse, and a cafeteria. Residents are made secure by its 24-hour security system. There is also a covered parking bay exclusive to residents.

Mont Kiara Palma offers its residents a number of activities, encouraging them to lead active lifestyles.

Mont Kiara is one of the best (and most luxurious) places to live because its address is located around many restaurants, cafes, malls, and schools. One could easily get that morning caffeine fix at nearby Starbucks or The Coffee Bean and Tea Leaf. Fast-food chains and international restaurants are within walking distance, making it very accessible to its residents who enjoy fine dining or casual socialising. Garden International School and Mont Kiara International School both provide excellent education, and these two institutions can be reached within minutes.

Some Thoughts…

The Mont Kiara Palma is one of the older condominiums around, but its superior location and well-maintained facilities do compensate for the age and the lack of a polished facade.
This is perhaps reflected in the prices which place the Palma in the mid-upper range despite its age.

Being inside the central Mont Kiara enclave means that tenants battle with the traffic condition day in and day out. So, if being stuck in a Mont Kiara traffic jam is bearable for you, becoming a resident in this property is the right choice. I’ m pretty sure going home to the condominium’ s quiet setting is enough to put you in a relaxed mood right after, no doubt. Or you can opt for a nice property in Bangsar (The Loft?) instead. 🙂

We like the Palma for its unbeatable location; for a maturing area like Mont Kiara the best spots would all be taken by older developments and this certainly rings true for Palma. It should also be easier to rent a Palma unit out than, say, Meridin which is further down the road (despite the latter being a newer condominium). Also, do not underestimate the “Sunrise” factor when it comes to long term value protection and appreciation.

Of course, your investment will hinge on whether you can secure a unit at a GOOD price, and to do this, you will need to know what’s the fair market value for a Palma unit.