So, I've been keeping a tap on one of Klang Valley's favourite place for expats, Mont Kiara. Listening to what people have to say about it.

I hear a lot of mix messages. Some absolutely hated it, some absolutely loved it. Others think it is a thing of the past. Some think it is just the right time!

Let's start a pros and cons list. Please contribute but kindly keep it constructive and informative to expats who are considering to live in Klang Valley/KL.


Pros:

GOOD INTERNATIONAL SCHOOL - GOOD INTERNATIONAL SCHOOL actually says it all because nothing is more important than our kids, expats and locals alike. But I have to point out that I met a really nice teacher at the bakery in Plaza Mont Kiara last week buying two dozens of donuts for her students. My teacher never even bought me nuts! Mom! I wanna go study there!! "It's Cool to School there!!!"

Mont Kiara - The name is associated with prestige and high quality brand of living. You can tell people, I live in "Mont Kiara", and you'd normally get a, "nice" out of them. It's a temptation that hardly anybody can resist!!! Yeap! Luxury is always a good standard to have.

High Yield Rental - 6-8% of gross annual rental return rate is expected from the units there. So, it's good to invest in a unit or two.

5-10% down-payment and nothing until completion - Some projects have a minimal down-payment and won't charge another cent until its fully built. I think it's great to buy now and sell it off once it's completed. Because condos generally have a significant increase in price after completion.

Low occupancy rate - I recently learned that there's only a 30-50% occupancy rate in Mont Kiara. So, it might look extremely packed from the outside with all the tall buildings (thus the nickname "Little Hong Kong"), it's actually pretty low dense in terms of population at the moment. So, it might be an extremely wise decision to live in there for the next couple of years. Because it looks densed, but not really. Actually, for that reason alone, I'll actually start calling agents and go see it for myself. Instead of always staying outside and imagining what's inside.

Sunrise - I just thought that this particular name should be mentioned because after all they are the ones who really created Mont Kiara and defined luxury condominiums. And I used to grow up wanting to buy a Sunrise Condo. Actually, I still do. If only I can get a discount.... Sunrise will you give me a discount, please!! Please!! Please!!!! Please!!!!!! Please!!!!!!! Okay, I suppose that wouldn't work.



Cons:

No privacy - which is a big no no for most expats. Ironically, that's what most real estate agents push the expats to go for (for obvious reasons). Having too many high rise condos literally staring at each other, they should have a morse code guide on the wall of all balconies to further enhance their already open communication. They should also have free baseball gloves, ya know? It'll be cool to play catch with your neighbour from the opposite condo! Wait a minute.... shouldn't this be up there in the pros list? Opps!

Expats continue to leave Mont Kiara - Most expats will only last a year or two in Mont Kiara before they finally get sick of the traffic jam, feeling of high density, no space, no sun because blocked by the new condo opposite, obstructed view, etc. which sums up to more stress for the big money paid. "Better places for cheaper rates out there" - according to many of these expats who used to live there and moved into other places. But unfortunately, it is a minor mistake that all expats would have to make once. It's a temptation too hard to resist at the beginning but relatively painless to remove/switch. Which is not exactly too bad. Many expats came to M'sia for the sun, the space, excellent natural environment, etc. They'll soon find it in many other good developments.

Private traffic jam - If they haven't already, they should have special reports on the radio regarding the traffic heading out and into Mont Kiara during rush hours. Even though they didn't put it on the S&P (sale and purchase agreement), they'd still like to give that one for free! - Your very own private traffic jam! Ouch! (But then again, which part of KL has got no traffic, right?)

Insult to the intelligent and well informed property investor of today - Ten to fifteen years ago, Mont Kiara was undoubtedly one of the best place to live and invest in, with only people of high net worth can afford to stay there. Believe it or not, the leaders probably have long since left Mont Kiara, handing their keys over to average Joes who are able to afford it merely several years out of college. As a matter of fact, a young friend of mine is about to purchase one there. Essentially, you'll risk looking silly for a few of those out there who dislike Mont Kiara because they used to live there and think they know better. If you want to be deemed, "wow, wise investment decision", you might just invest elsewhere for that reason.

Bear behind every bull - Surely there will be a bear behind every bull. Mont Kiara is no different. And Mont Kiara teddy bear is merely a party of greedy folks who was lured-in too late in the game by greed, trying to cut their losses. Ask the top ten property agents of Malaysia and see how many of them would actually buy themselves a property in Mont Kiara now.

Thanks for pointing out the 'Cons' for properties in Mont Kiara area.

Initially, i thought i was the only one who disregard Mont Kiara as a superb location, however i found out that i'm not the only one. At least there's someone else who thinks the same way.I would certainly think that investing in KLCC Luxury properties is worth the cash,since it's in the city & most offices dealing with Oil & Gas,Power Plant, Engineering, and etc, which requires expat to work here. Thus, the rental value is proven to yield!

My list of Cons is that, Mont Kiara has become the talk of the town ever since there was massive development of High end condos in that area. The condos there easily fetched up to Millions of dollars. However, due to the oversupply of condos in that area, how many people would rather buy for investment purposes? Since, Mont Kiara has a low density of occupancy rate,in the mean time.

If you're looking for a higher investment yield, i would rather get one where it's more accessible with, say the one near to the LRT station & Public Transport. Well, personally, i don't think Mont Kiara is easily access to, unless you have a car. Well, most foreigners who comes here, does not own a car. Furthermore, the massive jams in town? Who would rather drive?

Owhh, C'mon, Hop on to any bars or clubs at night in KL City, & there will always be a cab waiting to fetch you back. Ain't it convenient?

In Mont Kiara, you can hardly find a cab or a bus or even LRT?

Thus, i would prefer to invest my cash in places which are easily accessible by public transport.

Well, that's just one of the reason,there's more indeed.

Do call me for advices on properties to invest in, either for own stay with appreciation value or for investment purposes. I will be delighted to assist!

Do call me,or text me on 012-8866569 or email me at jsgurl5@hotmail.com for further details.

I've met with an expert today who seems to know a lot about the inside stories about living in Mont Kiara and has a couple of pros to share. I've invited her to contribute. Let's hope she'll be able to help contributing to this list and give a more accurate view about expats living in Mont Kiara very soon!

Mont Kiara is flooded by many Koreans. Now many of them have moved out and back to the country!

In 2007, Koreans were too crazy about Mont Kiara properties. Now they are selling at original developer price but still can make a huge gain in the investment. They bought at the rate of 1000 Won = RM3.4 in 2007, now they sell MK property at 1000 Won = RM2.5. Still make more than 25% gain in currency even selling at entry price.

The general condo price is about RM450-RM550 per sq ft now!

stephanie, public transport in malaysia is not good. most quite well off people do not care about transport. they have their bmw or merc that they take with them everywhere, often with driver too.

Stephanie

I think you're making a very good point. I met a big property developer in the UK, and he wanted to buy property in KL. And he kept saying that he was buying for the long-term and so he wanted it near public transport. I told him that in Malaysia the rich people don't care about public transport and everyone just uses their cars, so there is no point looking for property near a station.

But he said "Look at the traffic, this is only going to get worse. KL's population is growing fast and lots of people are buying cars. In 10 years time, trust me, if you could save 20 or 30 mins on your commute, you'll use public transport even if you're rich. Most people commute in the mornings and back in the evenings and in those times the weather is ok for walking. And the government is going to have to spend on public transport to get people to stop using their cars."

And I think he's right. In most developed cities even the rich use public transport as it's quicker. One day they will probably do the same in KL, and the way KL is growing it will not take that long.

When there's a demand for it. I don't see why they won't built a rail towards Kiara. But that's besides the point. And it's way too far fetched.
Really appreciate all of your constructive comments!

I have always taken a liking for Mont Kiara since past 3 years although I am staying in Brickfields. The place where Mont Kiara scores over Brickfields is fantastic weather, excellent development, good range of properties in terms of size, quality of construction and quality of residents( without meaning any offence to residents of Brickfields). The poor quality of building management and the tendecy to swindle the building funds in some of Brickfields Condos really pains me.
Brickfields scores in terms of proximity to public transport, Indian expats find it easy to buy things of their interest in Brickfields.

Mont Kiara is a promising investment potential for foreigners. Malaysians would still prefer landed properties in Bangsar or Bandar Utama. Hence everything hinges on the job opportunities for expats in Kuala Lumpur. Currently the oil & gas market is very depressed. American, Euporian and Australian expats are moving out from Malaysia rather than moving in due to the shrinking job opportunities in KL. Hence the property prices in the Golden Triangle has bore the brunt of the falling prices. However Mont Kiara seems to be more stable and prices are less likely to fall further down in Mont Kiara. The most likely investors in Mont Kiara in this subdued market would be the Singaporeans, Indian expata, Middle East expats including Arabs, Iranians, Africans etc.

Developments which fascinates me are the Verve Suites, Meridian by Sunrise, Vista Kiara, Casa Vista, Bayan, Pelangi, Pines, Kiaramas. If one visits these place there are a lot of as for auction and one can definitely try them.

In the next 2-3 years time there will be a massive upgrade in the public transportation in this area. I will not be suprised ifthere are a plethora of commercial development in this area.

There is a tremendous potential in Mont Kiara and lets pray that any change in leadership or government doesnot turn upside down the applecart of Mont Kiara. All future developments of Bandar Utama are also directly or indirectly linked to the growth of Mont Kiara.

I personally see no negative factors retarding the development of Mont Kiara.

Excellent input Bharti! That's the exact insights I was hoping for!!!!!
I can't believe it's coming from a fresh boarder with only one post.

That could potentially mean the current price drop or bad market affecting Mont Kiara is a fantastic golden opportunity for shopping investors!!!

Bharti, what public transport infrastructure is coming to Mont Kiara? An LRT? That would really help the area. It's one of the most dense parts of KL (or Malaysia for that matter) and there is no LRT. Crazy!

I'll probably storm into the Sunrise office right away to get a unit if LRT is confirmed going into the center of Mont Kiara.

Wait a minute, is somebody having some insider information here? Hey! It's perfectly legal in this country! Please share here if you have solid information about LRT about to get approved in Mont Kiara. It'll probably bump it's value up by double digits on the date of the announcement!

Heys,

Let me tell you that, The moment the government announce tat LRT is going to be build in Mont Kiara, I can assure that you can no longer get a condo in Mont Kiara for RM 380k and below.Perhaps it's going to be RM 400k or RM500k and above.

Cause like what you've said. You will be d first one to own a unit. What abt the others? LOL!

So, it's a good opportunity to get one, before the further increment of price, due to popular demand. LOL!

Let's shift our mind to places like PWTC... Properties there has higher investment value,tho...Well maintain and minutes walking distance to LRT.Not too expensive.I think the condos there are the best for investment, at a lower cost.

On the other hand, say for example places like Wangsa Maju and Taman Melati.... How many hours do you have to queue up to get an LRT to your workplace,every morning? Malaysian public transportation is never efficient, in this case. Then it will be more towards 'Human Jam' compared to 'Traffic Jam'. . But it's of course, still cheaper than driving.

Best Regards,

Excellent choice choosing PWTC!! I really hope the rental/sale prices there grow strongly within a few years once the economy picks up!!!

Mont Kiara is beginning to look a lot like Dubai, it's not my taste.

interesting mixed views on mont kiara. overall, for all it's negatives, i love the place. it's expensive, but it's the best place that i know in kl for expat condo living.

i was thinking of buying a place in mont kiara. for investment. there seems to be some advice on this forum advising to buy in PWTC instead.

i know nothing about that area - can someone tell me why i should invest in PWTC? is there an LRT going to be built there.

Paul Barton wrote:
interesting mixed views on mont kiara. overall, for all it's negatives, i love the place. it's expensive, but it's the best place that i know in kl for expat condo living.
i was thinking of buying a place in mont kiara. for investment. there seems to be some advice on this forum advising to buy in PWTC instead.
i know nothing about that area - can someone tell me why i should invest in PWTC? is there an LRT going to be built there.

well, there is an lrt station there..pwtc area is probably booming due to one factor: Tamansari. It's a huge integrated development project, which will transform that side of KL. But, of course, it takes time, it has been delayed, and the the developer has no previous works to refer to.

Owh, hey Paul,

There is an LRT Station connecting Ampang and Sentul Line,namely PWTC Station in PWTC. The condos there which is worth for investment are Bistari Condo, Putra Villa and Puteri Villa. Very hard to get one there. Cause the owner has gotten much rental yield for the areas. The rental yield there is approximately about 8%.

The last time i stayed in Bistari Condo, the security was extremely good. So,no worries abt security features in that area.

Last month,there was an auction for Puteri Villa and guess what? There were approximately 20 bidders waiting to grab that piece of property. See, how much demand they have in PWTC. LRT is only about 3-5 minutes walking disance from the condos. Furthermore, there's 'THE MALL' and most importantly there's this 'Putra WORLD Trade Center' which housed international events and etc. PWTC is also minutes away from Bukit Tunku. Also one of the most expensive development in KL.

Location wise,PWTC is easily accessible. See Google Earth for further information.

Overall,Mont Kiara is not a bad choice either. It also depends on the type of tenant you're targeting.

But to safeguard yourself on investment wise, try PWTC area. It's demand is high and easy to rent out.As for Mont Kiara, try to invest on cheaper ones. At the same time i am constantly looking for properties for sale and for rent for my clients in PWTC areas. Will try to look around for you if you're interesed within PWTC areas.

Bistari Condo, Putra Villa and Puteri Villa..yes, rental yield is great altho historically, capital appreciation is quite stagnant. The tenants are mostly arabs.

Try google Titiwangsa Sentral(under cons); it's one lrt station from pwtc. Huge potential there. It's actually sold out, but developer will release units that failed to obtain loan. Best of luck.

I timed myself and the PWTC LRT is only two minutes walk along the river to the Regalia Luxury Residences (under construction). And when they launched, the Putri and Putra Villas actually got a hike in price. I think there are only several units left. But then again, my view could be completely biased because I have a stake in that area.

So where's the new Mont Kiara? Is it PWTC?

BTW - the con for Mont Kiara is its too overdeveloped now, too much supply as there are a lot of new developments going on, the other poster hit the nail on the head..its becoming like dubai!

Yeah, tall towers and that..

It seems that there is a line of thought which gives more weightage to PWTC area. I have been to one of the condos in Bestari. The buliding looks fine from outside. I have seen only one unit facing the Putra LRT stn. If you stand near the window facing the LRT, I guarantee that you will forget about buying or renting the place.The screeching soung of the LRT wheels as it goes througha kerb is maddening. The layout of each flat is not very encouraging. Bestari is a definite no for people who have cars and prefer quiet surrounding. Likewise I have seen the Puteri residence. The master bedroom is strangely semicircular in shape. Beleivers of fengshui/Vastu will never recommend Puteri. Currenlty a new condo is being constructed adjoining Puteri which is likely to block the view from one side for Puteri dwellers. Units in Puteri are being sold for RM240k-RM275k for an area of about 1200sq ft with 2 bed rooms and hall. The rental is about 2k to 2.2k.People who want to go for this type of budget with proximity to the city would prefer Puteri. Strangely most of the people move out from Puteri after 1-2 years of stay.

I have not seen Putra. However Putra is bigger in size. Still I donot find the logic in comparing Mont Kiara with PWTC. The new construction ongoing near Putra/Puteri is sure to be sold at a price in the range of 600-800 per sq.ft.

We are not comparing apple to apple when we compare PWTC with Mont Kiara

Agreed that comparing Mont Kiara to PWTC is like comparing apples to oranges. But by just looking from an investor's viewpoint which would be a better place to invest in?

Points to consider:
1) Rental yield
2) Capital appreciation
3) Ease of rental/units available for rental
4) Quality of tenants/ease of rental collection
5) Future developments

Cheers!

I think looking at Puteri and Putra condos to judge PWTC is accurate for now. But look at Regalia. Upcoming Luxury Service Residences by Mayland.
They've already increased 23% in prices since mid of last year. And the prices are continuing to hike. Rental yield expected upon completion is RM6/sq ft.

Just walk into the show room next to Putra/Puteri and see for yourselves. It's really not a bad development. So far, most of Mayland completed projects have fetched high percentage appreciation and have good rental yield. So that's #1 and #2 checked!

I've taken a walk from the staircase of the PWTC LRT/The Mall along the concrete river and it took me 2 minutes to get to Regalia's construction site. So, it's seriously a 2-3 minutes walk from the LRT station. And that development is taking the Jalan Sultan Ismail address. That's #3 checked!

#4 is kind of tricky. But given that the entire development is being labelled as Luxury Service Apartments, I don't think rental collection is a major problem in the city of KL. Premium related developments, same as other developments, the quality of tenants rest entirely up to the owner who have a say in choosing its tenants.

#5 There really isn't much land left in that corner. So, The Mall/Legend Hotel revamp could be the only possibility. But that's just my wishful thinking. Don't forget to mention to Mayland that you heard about them through this forum if you're rushing to the Regalia office to buy a unit after this! They should advertise their project here in a big way!

are there a lot of vacant units in mont kiara because of expats leaving?

Somebody mentioned about Regalia by Mayland and here are my comments:

1. Mayland has very strategy landbank and very good marketing brochures

2. The actual delivery does not match the brochures greatly.

3. Many buyers faced delay in getting the keys and Mayland would not pay the late delivery charge. Someone had won the case but Mayland still wanted the others to go through the court to sue them to buy time. What a waste of legal fees for the purchasers!! I have not come across a terrible developer like Mayland before, even though I had bought many properties before including from bad developers as well. Mayland is the worst of all.

4. The workmanship is terrible and I decided to spend about RM10,000 to make my unit look good instead of waiting for Mayland. I am currently having a case against Mayland.

You must be prepared to fork out extra to repair and sue the developer. If you can accept that then Mayland's properties are in good locations

Somebody mentioned about Regalia by Mayland and here are my comments:

1. Mayland has very strategy land banks and very good marketing brochures

2. The actual deliveries do not match the brochures greatly.

3. Many buyers faced delay in getting the keys and Mayland would not pay the late delivery charge. Even someone had won the case but Mayland still wanted the others to go through the court to sue them to buy time. What a waste of legal fees for the purchasers! I had bought many properties before including from bad developers but Mayland is the worst of all.

4. The workmanship is terrible and I decided to spend about RM10,000 to make my unit look good instead of waiting for Mayland. I am currently having a case against Mayland.

You must be prepared to fork out extra to repair and sue the developer. You must also accept that the actual delivery is about 75% of what is mentioned in the brochures. If you can accept that then it is ok to buy Mayland's properties as they mostly in good locations. In addition, they are good at landscaping the common areas.

Indeed, if you take a look at MK area, the supply are more than the demand nowaday.
Hv a unit in Meridin, which sited next to highway, written to the developer, Sunrise, to consider to build a high acoustic wall to ease the unbearable noise from highway for the sake of home owner/investor. Guess what, as a reputable developer, they dont even want to acknowledge the complaint. what a frus

actually i like one of the project i'm handling at the moment which is nearby mont kiara...


but not within my budget. too many commitments....