KLCC has been a home to a lot of residential condominiums and serviced apartments. It’s safe to say that it has become a convenient retreat for both locals and expatriates; the number of planned developments in the area to accommodate the high demand is definitely a tell-tale sign although development land is fast running out in the enclave. New launches are few in KLCC, and investors are well advised to look at the current inventory to look at buying opportunities which can be abundant given the flatness of the market.
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One successful development that has been making waves in the KLCC area is Crown Regency, a popular choice among the young and hip, a freehold serviced apartment located along Jalan P Ramlee. Its target is mainly tourists, who plan on staying for short-term – if you’re planning to invest in a unit for short term lets (a la AirBnB) then Crown Regency might just fit the bill for you.
It’s easy to live the life of luxury when one resides at the Crown Regency. Each unit has free internet connection, as well as a fully-equipped kitchenette that comes with a full-sized refrigerator and a microwave oven. Bigger units come with cooking utensils and hot plates. There are also walk-in closets in master bedrooms.
Complimentary newspaper is also offered to guests and residents. Rooms also come with a safe, telephone lines, iron and board, and toiletries. Rooms are accessed through electronic key cards and have an intercom system to enhance security. Limousine and car rentals are also available upon request, as well as maid services.
The serviced apartment boasts of complete amenities, facilities, and luxuries one could ask for. For starters, there is a café called Peter Pan’s Café, sitting conveniently for its residents on the serviced residence’s lobby. There is also a swimming pool, a self-service launderette, a baggage store, a business centre, and a fitness centre. A covered car park is also made available for its guests and residents.
Crown Regency Prices
Below is a chart depicting the trend of asking prices of Crown Regency – averaged monthly. Do note that these are asking prices – if you are looking to value the property then you’ll be advised to look at transacted prices instead. For more information on how to value a property, download this guide.
The data above was sourced via publicly available resources as well as from KLCCcondominiums.com.my’s internal pricing tracker database.
Crown Regency is located along Jalan P Ramlee. It is known as KL’s “clubbing street”. For one, the noise pollution can be extreme, especially during at night, when Jalan P Ramlee becomes a strip of nightclubs, pubs, and restaurants. This is one reason why the serviced apartment comes off as attractive for tourists, or for locals who would go the distance to have fun and unwind after a long, tiring night of partying at the nearest club.
Crown Regency’s GoodPlace Walkability Score (GWS) is a high 93. For more information on how to interpret this score, go here. You will also get a freebie high resolution PDF map.
It’s easy to go around—public transportation is accessible in Jalan P Ramlee. Train stations nearby include KLCC LRT and the Bukit Nanas Monorail stations and both can be reached conveniently by foot. Shopping will be breeze, as Suria KLCC can be reached by foot within ten minutes, while Pavilion KL is just fifteen minutes away by foot. Check out this map below to see where the nearby amenities are (click on the shortcuts on the right to toggle the features):
[poiautomap address=”Crown Regency And Apartment Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Crown Regency[/poiautomap]
We gave you a heads up on Crown Regency’s Jalan P Ramlee location — now it’s time to state the obvious. Given the fact that the serviced residence is located along a “clubbing street”, it’s safe to assume that its location will be vulnerable to noise and traffic jams especially during peak hours and weekends.
While tourists won’t see this as a problem, persons with a low tolerance for noise (and yes—brawls, as alcohol is served endlessly on this side of town) might find it difficult to relax or even get proper sleep while staying at the Crown Regency. However, if one is prepared or is accustomed to loud party noises and the crowd, the serviced residence’s five-star amenities and facilities at reasonable prices are enough to reel in guests and residents.
Additionally, what you pay for a unit here at Crown Regency will largely determine how much returns that you will get from this investment. Average sale prices for the Crown Regency have experienced a slight drop this year, but as with many other KLCC condominiums the prices seem to be slowly creeping back up. Mid 2013’s average sale prices were listed at around RM800 per square feet. To estimate the fair price to pay, rentals for Crown Regency’s serviced apartments roughly cost around RM250 a night. What would this make for rental yield? Check out this property valuation guide which we can email you once you submitted your details below.