Right across Pantai Medical Center is the high-rise low-density condominium Pantai Tower. Perched atop the Bukit Pantai hill, it gives residents a superb view of the Kuala Lumpur city skyline, Mid Valley City and neighboring communities.
Pantai Tower is a freehold property is made up of a single block of 13-storey building on a 1.5 acre land. It was developed by Metroplex and was completed during the 1980s (so it’s kinda old). Some of its neighbours include Bintang Pantai across the road and Zehn Bukit Pantai further down Jalan Bukit Pantai. Metroplex was famous for its tussle over Putra Place with Sunway back in 2011, and it got delisted from Bursa Malaysia soon after. #firstworldproblems
Recent listings for Pantai Tower indicate an average subsale price of RM460 psf. Rental rates are from RM1.25 to RM2.65 psf, depending on the condition of the units (unfurnished, semi-furnished or fully furnished). If we are to compare the asking price for sale with its neighbors Zehn Bukit Pantai and Bangsar Heights, Pantai Towers is the cheapest, as Zehn sells from RM680 to RM800 psf while Bangsar Heights ranges from RM550 to RM700 psf. To check if these are valued fairly, check out this free guide on valuing a property and determining its fair market price – click here to download.
As for rentals, Pantai Towers is in the middle while Zehn is the most expensive at RM2.90 to RM3.40 psf. Bangsar Heights is lowest in rental rates and are let from RM1.90 to RM2.20 psf.
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Units at Pantai Tower start from 1,200 sqf with three bedrooms and three bathrooms. Bigger sized units have a built-up size of 1,600 sqf and have four bedrooms and three bathrooms. There are only two units on each floor, providing residents privacy. Although the property is low-density, residents enjoy full condominium facilities such as a gym, swimming pool, tennis court, basketball court and squash court. Additionally, round-the-clock security is also provided.
Living in the Bangsar area in general is very convenient. Amenities are close by and the vicinity is easily accessible via public or private transportation. The Bukit Pantai area is a viable alternative to Bukit Bandaraya which does seem to be bursting at its seams with skyscraper condominiums and commercial buildings.
Pantai Tower has been coated with fresh paint, giving it an instant facelift. Its lifts were also replaced with new ones, as the old ones went bonkers for months, and residents complained about it. Its garden is also well-kept with regular maintenance. We do note that unlike in Singapore, condominiums here rarely go though refurbishment like this, and so the management of Pantai Tower should be credited for this. However, the property is undeniably old, which is obvious from its building design. Newer ones seem to be more angular with a good blend of steel and glass (taking notes from Zehn Bukit Pantai and Ken Bangsar).
However, old is not always synonymous to ugly, and there are many investors think that Pantai Tower is a worthy investment due to several reasons:-
- A unit may be purchased at a reasonable price and yields a good rental rate. PropertyReviews.my reader and seasoned investor, Cliff ‘Burt’ Tan from Kajang, remarked, “It is also a good investment if intend to live in it, if you are not bothered by its age!” We tend to agree.
- It’s low density factor is a winner.
- Bangsar is running out of new development land.
- Bukit Pantai is fast shaping up as a good alternative to the frequently congested Bukit Bandaraya.
All in all, Pantai Tower’s prices may seem to be low, but fair given that it’s going to get older and maintenance costs will only go up. Remember to factor these considerations into the price if you decide to invest in a unit here. For a guide on how to do this, use this downloadable e-booklet on “How To Value A Property” which we will email you once you filled in this handy little form below.