Exploring Real Estate Investment in Mont Kiara, Malaysia
A visit from a cousin in Shanghai, interested in Malaysian real estate, leads to an exploration of properties in Mont Kiara, a well-known expat area. This article will cover the key features of the area, and take a look at specific properties and their amenities.
Mont Kiara: An Overview
Location and Demographics
Mont Kiara (Magala in Chinese) is a sought-after residential area known for its international schools and high concentration of expatriates. It is considered a rich area, with many skyscrapers.
International Schools
Mont Kiara is particularly famous for its top-tier international schools, attracting many overseas buyers. Two prominent schools mentioned are:
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Garden International School
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Mont Kiara International School
These schools offer both English and American curricula.
Property Visit: Condominium Features and Amenities
Location and Surroundings
The showroom is located near Garden International School, atop a hill, providing a quiet and serene environment. The area is likened to a "half-mountain" setting, similar to areas in Hong Kong.
Transportation
An upcoming MRT subway station will be located approximately 750 meters from the property. The completion date depends on the government.
Swimming Pool and Recreational Facilities
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Large swimming pool surrounded by landscaping features.
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An Olympic-sized (50 meters) swimming pool.
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Jacuzzi.
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Kids' play area with a slide into the swimming pool.
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Tennis court.
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Indoor badminton court (located inside the car park).
Parking
Each house provides two to three free parking lots. This is a significant benefit compared to cities like Shanghai, where parking spaces can be very expensive.
Sample Unit: 2+1 Rooms
Size and Layout
The sample room has over 1,300 square feet (approximately 120 square meters). It features an open-plan kitchen.
Kitchen and Bathrooms
The kitchen will have it, and the master bedroom is quite big and it includes a bathroom. However the mirror cabinet only has the top, but not the bottom one.
Foreigner Investment Requirements
Foreigners need to invest more than 1 million yuan to participate in the second family reunion program.
Pricing and Features
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The sample unit is priced at 1.1 million yuan, which translates to approximately 1.8 million RMB due to exchange rates.
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The developer provides a washing machine and kitchen cabinets. A refrigerator space is available, but the appliance itself is not included.
Rental Yield
The estimated rental income for this size unit is around 8,000 to 10,000 RMB per month, resulting in approximately 6,000 RMB a year for management fees.
Larger Unit: Private Lift Lobby
Features and Space
The larger unit has more than 200 square meters and a private lift lobby providing exclusive access. It includes a powder room and a spacious living/dining area.
Kitchen and Storage
The kitchen is well-equipped, including an oven, storage room, and separate wet and dry kitchen areas. The wet kitchen is designed for heavier cooking (e.g., Chinese stir-fry) to contain oil and smoke.
Bedrooms and Bathrooms
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Three bedrooms in total.
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Bathrooms attached to the rooms.
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Closets provided by the developer.
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Ceiling height of more than three meters.
Master Bedroom Suite
The master bedroom is spacious, featuring a writing desk, bathroom, and a dressing room area with a window and a dressing table. The bathroom includes a bathtub and a shower.
Pricing and Value
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The larger unit is priced at 2.2 million yuan (approximately 3.8 million RMB, depending on the floor).
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Three free parking spaces are included.
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Property prices in Mont Kiara have appreciated, but they are still considered cost-effective compared to areas like Delta Park City.
Payment Plan
The initial payment is 4% of the SPA price. This allows for the building of a second home.
Location
The property is located approximately 500 meters (a 10-minute walk) from Garden International School.
Concluding Remarks
The real estate in Mont Kiara offers good value. The presentation concludes with a visit to 163 Retail Park, highlighting the business and lifestyle amenities in the area.
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