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• Most of the condominiums and serviced residences are located near nature with peaceful surroundings. 
• Some of the properties feature well-designed garden landscapes and resort-style environments. 

• Good long-term property maintenance is a key factor in capital growth.  

KUALA LUMPUR, 23 JULY 2023 – iProperty.com.my has unveiled residential high-rise properties with the highest capital appreciation in 2022 compared to 2012. These developments in Kuala Lumpur, Selangor, Penang and Johor experienced positive long-term growth mainly due to their first-mover location, connectivity, low-density feature and impressive property maintenance. These projects provide insights into the viability of acquiring older high-rise properties for homebuyers and investors. Raw data was sourced from the Valuation and Property Services Department (JPPH) and analysed by PropertyGuru DataSense, the data, analytics and solutions arm of PropertyGuru Group.  

The 10-year time frame has been selected due to its alignment with the typical duration of an economic cycle, which can span up to a decade. This period allows iProperty.com.my to analyse properties that have experienced the four crucial stages of an economic cycle – expansion, peak, recession, and trough. By doing so, the list showcases assets that have demonstrated resilience over time and experienced steady capital appreciation. 

Sheldon Fernandez, Country Manager, PropertyGuru Malaysia (PropertyGuru.com.my and iProperty.com.my), said, “In addition to being strategically located, these well-appreciating developments have several commonalities. Most projects are decades-old condominiums surrounded by greenery, with some situated on elevated grounds. Moreover, these low-density developments feature well-designed landscapes with garden or resort-style concepts, providing a tranquil living experience. Another key element is that these properties are well-maintained by their respective management committees. This clearly showcases that a property’s long-term value does not just depend on its architecture and extensive facilities, but on how it is maintained over the years.”  

Below is a rundown of the top high-rise residential properties in Kuala Lumpur, Selangor, and Penang with the highest capital appreciation in 2022 versus 2012:   

Top high-rise properties in Kuala Lumpur – Well-maintained, resort-style properties appeals to homeowners. 

Two properties in Kuala Lumpur, Jamnah View (94.4%) and Villa OUG (69.3%), are known for their resort-style environment with expansive landscape grounds, luxuriously shaded palm trees, and facilities akin to a resort. Their strategic location also gives residents access to major roads, highways and some MRT nodes for residents to easily commute to main attractions in the city. Another contributing factor to both properties’ long-term capital growth is that they are well-maintained by their respective management committees. The 30-year-old Jamnah View in particular, underwent a major refurbishment exercise last year, resulting in a fresh look and feel. 

Aside from facilities and a convenient location, many urbanites tend to look for properties within tranquil settings. Both Le Chateau 2 and Bukit Winner feature flourishing greenery encasing its vicinity with the former overlooking a stretch of undeveloped forest land Meanwhile, Antah Tower offers a quiet living environment in the heart of the city. Despite being built in the 90s, it has facilities similar to contemporary condominiums and provides an affordable entry point of around RM400,000, making it suitable for small and medium-sized urban families. 

Top high-rise properties in Selangor – Older suburban developments near forest reserves remains evergreen. 

High-rise properties in Selangor surrounded by or close to nature have appreciated well in the last decade. Two condominiums near the Ampang Forest Reserve, Villaria (112.60%) and Menara Indah (67.10%) appeal to urbanites who prefer green living environments, spacious units and contemporary facilities. Both these buildings may be dated, but online listings depict well-renovated and homely abodes, making it perfect for homeowners who priotise a conducive surrounding.    

Casa Mila Tower (79.60%), is another resort-style condominium set against the backdrop of the Hutan Lipur Bukit Lagong National Forest, providing its residents with the exclusive privilege of enjoying serene views and a breezy environment. Despite being built in 1991, this hillside development offers beautiful landscaping, peaceful surroundings and modern facilities, giving investors the opportunity to purchase and refurbish dated units to attract potential homeowners or tenants. Meanwhile, Regency Condominium (99.30%) and Sri Permata (61.30%) offer very attractive price ranges, easy access to amenities, direct connection to major highways and multiple layout options for both homebuyers and renters. 

Top high-rise properties in Penang – Ocean proximity drives capital appreciation on the island. 

As a tourist destination, Penang offers sought-after properties that provide access to the state’s natural offerings – beaches and sprawling green landscapes. Properties like Desa Golf (50.1%), Seaview Garden (49.4%) and SkyHome (49.4%) are near this coastal paradise allowing residents to relish the calm and relaxing atmosphere. Desa Golf offers a captivating view of Penang Golf Course, while Seaview Garden is nestled among the verdant hill of Mount Pleasure that overlooks the picturesque Penang coastline. Meanwhile, SkyHome has a specially designed lobby with direct access to the beach.   

Other developments, such as Arena Residence (61.80%) and Central Park (48.6%), have favourable access to the state’s prime destinations, major roads, recreational venues, outlets, facilities, and local markets. Eateries and lifestyle outlets surround Arena Residence and are within walking distance from a large indoor stadium and an integrated convention centre. Its strategic location benefits investors who plan to welcome tenants looking for short-term accommodations. Central Park is conveniently located between Georgetown and the Penang Bridge, a good indication for investors looking to attract buyers and tenants in this central location. Furthermore, the project is near key amenities such as a hospital and a wet market complex. As a relatively new development completed in 2011, Central Park is a popular choice among homebuyers with families.   

Top Properties in Johor – Prime location and accessibility boosts long-term property value. 

Johor Bahru properties also offer a range of amenities, easy access to major roads, and various facilities catering to different preferences. Octville Condominium (335.7%) is a resort-like development in the well-established township enclave of Bandar Baru Seri Alam. Many of its units have been recently renovated and fully furnished with modern offerings — a potential opportunity for homebuyers and investors. Octville Condominiums could also attract a wider pool of tenants who work at the nearby public universities. Meanwhile, Jentayu Residensi (39.8%) is a relatively new development with well-maintained and fully-furnished units. This project caters well to middle-income households due to its location near two established neighbourhoods, Bandar Uda Baru and Larkin, and it can be accessed via the Second Malaysia-Singapore link and Jalan Skudai. Akademik Suite (32.7%) is a project located in another prime location, Taman Mount Austin, where it enjoys proximity to a water-themed amusement park and a convention centre. This has positioned the service residence as a short-term stay option for travellers.   

Two properties near the Johor-Singapore border, Pelita Indah (39.6%) and Datin Halimah Condominium (25.5%) have also appreciated well over the past decade. Pelita Indah is 10 minutes from the Customs, Immigration, and Quarantine Complex (CIQ) and 3.2 km from the upcoming Rapid Transit System. Datin Halimah Condominium is a mere 10 minutes away from the Malaysia-Singapore Causeway link and is near a KTM station and Larkin Sentral. Although completed in 1999, this project has been received highly by its residents for its excellent maintenance. Furthermore, there are upcoming plans by the management committee to refurbish the building’s premises.  

Sheldon added, “Effective property maintenance is integral to enhancing the value of a property. The comprehensive upkeep of a property not only elevates its livability but also ensures its durability over time. This is why strata homeowners should be cognizant of their duties and responsibilities. By actively attending annual general meetings and appointing credible management committee members, homeowners can greatly influence the direction and efficacy of property maintenance. This level of involvement ensures that the high-rise home receives the attention and expertise required for its upkeep, resulting in a well-maintained and attractive property. 

FOOTNOTES:

1. Capital growth is calculated as = Median PSF in 2022 – Median PSF in 2012 / Median PSF in 2012. Median Per Square Foot (PSF) is used to calculate capital growth due to various built-up sizes being transacted.  
2. The data system from JPPH officially records a property transaction in Malaysia once the stamp duty for the Sales and Purchase Agreement is paid. Analytics is based on the data available at the date of publication and may be subject to revision as and when more data becomes available.   

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