Living the Life: The Avare
Clearly, The Avare is aimed directly for the rich and famous, the wealthy businessmen and up-and-coming yuppies with a lot of ringgit to burn. We cannot blame them for spending at least RM3.9 mil to RM11.9 mil the most for a condominium that boasts of pure elegance and class. Indeed, the Avare is one of Kuala Lumpur’s high-rise condominiums that has the word “luxury” written all over it, and with its 6-star facilities and amenities, you would definitely know where your extra RM1 mil went. 🙂
Click here(and scroll down if needed) if you are looking for for-sale listings for the Avare.
Below are the aggregated for-sale listings found at our local property portals (good as in the last 24 hours); click on the links to go to the respective portal:-
Remember that if you don’t like going through the listings (can be quite tedious sometimes – especially when you find yourself calling multiple agents) then you can also utilize our DealMatcher service – we will do the due diligence for you and send you only good, verified units for sale or for rent. This is a free service (we are not agents – only researchers and bloggers). Click here for more information.
Now back to the review… 🙂
The Avare Kuala Lumpur is becoming one of the most prestigious addresses in the Kuala Lumpur district (specifically, the KLCC enclave), and if you want to scribble the words “The Avare” every time you have to write down your address on forms and such, you better act fast because units are selling fast. Apparently, there ARE a lot of wealthy people in Kuala Lumpur—and you have to do something about it quickly if you want to be included in The Avare Rich Persons Clique immediately.
The Avare is next to the Singapore High Commission and Dua Residency. It’s also part of the Tun Razak cluster of KL city condominiums, although it is markedly closer to the KLCC enclave than, say, Orion and Setia Sky Residences.
You can view the “insider gossips” that we have collated from people in the industry (negotiators, buyers, property managers) by liking our Facebook page. We do, however, have to caution you NOT to rely on these “gossips” when making your investment decisions – they have not been independently verified in any way.
Magna Prima’s Grandest Offering Yet
Magna Prima Bhd is the developer of The Avare, whose other stellar properties include lifestyle condominiums such as U1 Shah Alam in Selangor and Desa Mentari located downtown of Old Klang Road. The Avare is a 41-storey condominium that houses 78 units. Magna Prima Berhad valued The Avare at RM309 mil.
Designed by Hong-Kong based architects David J. Clarke and Robert N. Kessler, The Avare offers a spectacular 360-degree view of the world-famous Petronas Towers, the KLCC park, and the entire KLCC skyline. The Avare is the first ever condominium in Malaysia that features glass curtain walls. Kinda innovative, but also justifies the hefty price tag somewhat. 🙂
Going, Going, Gone
Within months after its launch, the wealthy public began to recognize The Avare’s luxurious features, and as of this writing, almost 80% of The Avare’s 78 units have been occupied. Its occupants are mostly expatriates—ranging from Indonesians to Americans. Locals also contributed to The Avare’s rising number of residents—40% of its units were sold to Malaysians.
The Avare: Synonymous to Luxury and Class
Take a look at The Avare’s 6-star amenities and features and you’ll see why it’s becoming one of Malaysia’s sought-after properties:
- Standard units measuring 3,800 sq ft
- Super Deluxe units measuring 7,600 sq ft
- Two-Level Duplex Penthouse units measuring 7,600 sq ft that includes a private swimming pool
- World class security systems
- Wifi and broadband access
- 3 covered parking slots for each unit
- Centralized air conditioning system
- Fully-equipped social kitchen
- A residential butler
- Lounge and gym for residents
- Outdoor pool
- Personal Limousine services
Being so centrally located means that the Avare enjoys superior “walkability” to nearby amenities. In fact, GoodPlace.my assigns it a “Walkability Score” (more information here) of 87 – which is above average even by KLCC standards. To download a free high resolution map with Walkability Scores of most KLCC properties, go here.
Use this interactive map below to check where the closest amenities to the Avare are (click on the shortcuts on the right).
[poiautomap address=”The Avare Lorong Kuda Kuala Lumpur” zoom=”15″]Avare[/poiautomap]
Avare Pricing Details
Because of the size of the individual units which is bigger than the typical KLCC condominium (standard units at 3,800 sq ft), the price entry is steep. The launch price was some RM3 million for the standard units, and went up to as high as RM8 million for the penthouses. JPPH (the Property and Valuation Department attached to the Ministry of Finance) reported rather flat prices for Avare units in 2012 which remained much at the same level as 2011 – the standard units transacted at around RM3.5 million. The price per square feet has since dropped to sub RM1,000 levels.
Wondering what’s Avare’s fair market price? Click here for our free “How Much Is Your Property Worth” digital guide.
Culled from GoodPlace.my’s pricing tracker database, below are the asking prices of the Avare for the past few months:-
The Avare promises a life of luxury and class for its residents. If you vie for the finer things in life, The Avare is truly a great addition to your list of all the good things life has to offer. The bigger-than-your-average-KLCC-condo size may be a turnoff for some (and which may also pose a challenge for those who want to rent their units out), but there are some bargains to be had with the flat or slightly declining price per square feet.
If the market of luxury condominiums above 3,000 sq ft continues to be soft, expect fire sales to happen this year or the next. While you wait, check out what’s the fair price to pay for a unit here at the Avare using this nifty little guide which we will email to you –