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The Great Appreciation
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Kuala Lumpur’s landed property market is showing signs of recovery with the capital values of prime landed home showing the greatest price appreciation at 60 percent on average in the fourth quarter of last year, according to a research by Jones Lang Wooton (JLW).
JLW’s data shows that luxury homes in RM2 million to RM3 million region in the Bangsar and Damansara Heights areas are now worth between RM3 million to RM5 million, compared to the same period in 2008.
JLW’s findings seem to concur with Savills Rahim & Co’s observation on the city’s landed property market - homes within this range are showing the greatest capital appreciation so far this year. “If you are talking about the RM2 to RM3 millio range, the capital appreciation can be astounding. One example is Beringin Residence in Damansara Heights. A client of ours bought a unit there for RM1.7 million in 2007 and is now being offered RM2.9 million. That is about 70 percent capital appreciation,” says Victoria Chai of Savills Rahim & Co Prestige Homes department. Chai further explains that luxury homes within this price range tend to appreciate more as they are in great demand due to their limited supply and location.
JLW’s findings seem to concur with Savills Rahim & Co’s observation on the city’s landed property market - homes within this range are showing the greatest capital appreciation so far this year. “If you are talking about the RM2 to RM3 millio range, the capital appreciation can be astounding. One example is Beringin Residence in Damansara Heights. A client of ours bought a unit there for RM1.7 million in 2007 and is now being offered RM2.9 million. That is about 70 percent capital appreciation,” says Victoria Chai of Savills Rahim & Co Prestige Homes department. Chai further explains that luxury homes within this price range tend to appreciate more as they are in great demand due to their limited supply and location.
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