Pavilion Residences

August 19, 2013 — 6 Comments

Standing on what used to be Bukit Bintang’s all girls’ school is the six-star (pardon the hyperbole – that’s like saying 110% which is mathematically impossible!) condominium on top of the Pavilion mall – you guessed it, the Pavilion Residences.Β Fancy living on top of an upmarket mall right smack in the heart of Kuala Lumpur’s premier shopping district? Then look no further. πŸ™‚

Pavilion Residences, Bintang Walk

The twin towers of Pavilion Residences as viewed from Fahrenheit, Jalan Bukit Bintang

Located on one of the prime-st spots of Jalan Bukit Bintang (or known by its trendier, slightly more pretentious name of Bintang Walk), Pavilion Residences is right at the heart of shopping action. Bintang Walk is famous for being Kuala Lumpur’s “high street” – the area is lined with shops with all kinds of merchandise. You name it, we’ve got it!

Click here
(and scroll down if needed) if you are looking for property listings for Pavilion Residences.

When launched and completed in 2009, available reports claim that the property sold like hotcakes, with foreigners as the majority buyers. We are not surprised by this at all; Pavilion was marketed rather brilliantly as one of the first branded residences (this was then followed by RuMa, Four Seasons, St Regis amongst others), and its rather unique proposition at that time (residential suites on top of luxury shopping outlets) completely hit the proverbial spot. Pavilion Residences is a leasehold property.

Pavilion’s Walkability Scores

The advantage of being right on top of a shopping mall means that most amenities are reachable by foot. Unsurprisingly, Pavilion Residences enjoy superior walkability; in fact, its GoodPlace Walkability Score (GWS) is 99 out of a possible 100. For more details on how walkability is scored, and to get a free downloadable map of KLCC and the city with the walkability scores mapped out, go here.

You can also use this map below to check where the closest amenities to the Pavilion Residences are. The map is interactive – click on the shortcuts on the right to toggle the location of the amenities.
[poiautomap address=”Pavilion Residences Jalan Bukit Bintang Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Pavilion Residences[/poiautomap]

Pavilion Residences Pricing Details

Below is a bar chart of the average asking prices for Pavilion Residences for the past few months (when available). Use the chart to see the pricing trend (since there is a high correlation between asking and transacted prices – although these is a lag period).

Gossips!

The section below is a collection of what we call “insider gossips” – these are unvalidated information that we have received from industry insiders (agents, negotiators, builders, contractors, buyers, sellers) regarding the Pavilion. Do exercise caution and never base your investment decision based on this information! To access, simply unlock with a Facebook ‘like’.

[to_like id=”1377″]

[/to_like]

Pavilion’s Standard Configuration

View of the Pavilion from Bintang WalkPavilion Residences is made up of two blocks, with Tower 1 having 43 storeys and Tower 2 standing at 50 storeys tall. The 43-storey Tower 1 houses a total of 163 units while Tower 2 has 205, bringing the grand total of 368 units in all. There are 6 types of units that buyers may choose from based on the average built-up size and number of rooms:

  • 1-bedroom units – there are only six (3 in Tower 1 and 3 in Tower 2) of this type which has a built-up size of 700 sqf.
  • 2-bedroom units – there are 147 (63 in Tower 1 and 84 in Tower 2) of this type which has a built-up size of 1,358 sqf.
  • 3-bedroom units – this type has a built-up size of 2,310 sqf and there are 153 units of these (66 in Tower 1 and 87 in Tower 2)
  • 4-bedroom units – there are 48 (24 each in Tower 1 and Tower 2) of this type which are sized 3,854 sqf.
  • Duplex penthouses – this type has a built-up size of 6,347 and there are only 12 (6 in each tower) units.
  • Penthouse – there are only two penthouse units (1 each for Tower 1 and Tower 2). These are humongous units with built-up size of 12,326 sqf).

Residents of this posh condominium are provided topnotch facilities that include sundeck, tennis court, swimming and wading pools, barbecue area, function room, aerobics/yoga room, multi-purpose hall with kitchen, laundry room, changing room, spa treatment area, children’s playground, landscaped garden, reception area, car park and business center. Security key cards are provided to residents on top of the round-the-clock security.

The roof deck of Pavilion shopping mall serves as Pavilion Residences’ facilities floor.

Our Analysis

When it was launched in 2009, Pavilion Residences was a resounding success and it was not hard to see why – a strong brand with a unique positioning. Some would compare it to K Residence for some marked similarities (premium location, being on top of an upmarket mall), but this comparison is not that apt because of the following reasons:-

  • Avenue K is nowhere near the stature of the Pavilion mall in terms of prestige and traffic
  • Branding is becoming a strong driver of sub sale value, and again K Residence is not in Pavilion’s league. Branded residences like RuMa and Four Seasons are now exceeding the RM2,000 PSF point and this is where Pavilion is headed to.

Pavilion Residences, KLCC

Therefore, if we are to compare it with K Residence side-by-side, the latter seems to give better value for money, but we would prefer Pavilion for its sub sale value and also for the rental yield. There is a market for short term lets (popularized by the likes of AirBnB), and if this is the objective, then the better comparison properties would be Bintang Fairlane (down Bintang Walk next to Lot 10) and Crown Regency (on Jalan P Ramlee).

[dc]S[/dc]tanding on what used to be Bukit Bintang's all girls' school is the six-star (pardon the hyperbole - that's like saying 110% which is mathematically impossible!) condominium on top of the Pavilion mall - you guessed it, the Pavilion Residences.Β Fancy living on top of an upmarket mall right smack in the heart of Kuala Lumpur's premier shopping district? Then look no further. πŸ™‚ [caption id="attachment_1608" align="aligncenter" width="557"] The twin towers of Pavilion Residences as viewed from Fahrenheit, Jalan Bukit Bintang[/caption] Located on one of the prime-st spots of Jalan Bukit Bintang (or known by its trendier, slightly more pretentious name of Bintang Walk), Pavilion Residences is right at the heart of shopping action. Bintang Walk is famous for being Kuala Lumpur's "high street" - the area is lined with shops with all kinds of merchandise. You name it, we've got it! [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for Pavilion Residences. [spotlight role="target"][feature_box title="Listings For Pavilion Residences" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] When launched and completed in 2009, available reports claim that the property sold like hotcakes, with foreigners as the majority buyers. We are not surprised by this at all; Pavilion was marketed rather brilliantly as one of the first branded residences (this was then followed by RuMa, Four Seasons, St Regis amongst others), and its rather unique proposition at that time (residential suites on top of luxury shopping outlets) completely hit the proverbial spot. Pavilion Residences is a leasehold property. Pavilion's Walkability Scores [dc]T[/dc]he advantage of being right on top of a shopping mall means that most amenities are reachable by foot. Unsurprisingly, Pavilion Residences enjoy superior walkability; in fact, its GoodPlace Walkability Score (GWS) is 99 out of a possible 100. For more details on how walkability is scored, and to get a free downloadable map of KLCC and the city with the walkability scores mapped out, go here. You can also use this map below to check where the closest amenities to the Pavilion Residences are. The map is interactive - click on the shortcuts on the right to toggle the location of the amenities. [poiautomap address="Pavilion Residences Jalan Bukit Bintang Kuala Lumpur Federal Territory of Kuala Lumpur" zoom="15"]Pavilion Residences[/poiautomap] Pavilion Residences Pricing Details [feature_box title="How Much Is Pavilion Residences Worth?" title_color="fff" header_color="f96e5b"] Current market prices for Pavilion Residences indicate a range of RM1,300 psf to RM2,000 psf. Rental rates are pegged at a range of RM4.20 to RM7.90 psf. What would be the ideal price to pay for a unit at Pavilion given these rates? Find out using this property valuation guide which you can download for free courtesy of GoodPlace.my.[/feature_box] Below is a bar chart of the average asking prices for Pavilion Residences for the past few months (when available). Use the chart to see the pricing trend (since there is a high correlation between asking and transacted prices - although these is a lag period). [chart csv='http://klcccondominiums.com.my/data/pavilionresidences.csv' type='bar' category='Month' value='PSF' format='string, float' color='orange' title='Pavilion Residences Asking Prices (PSF…

SherpaScore: Pavilion Residences

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

A high class residence that shines around the Jalan Bukit Bintang area thanks for its strong brand backing and ideally unique location

User Rating: 4.08 ( 7 votes)
75

Pavilion Residences is leasehold and this may also put it at a disadvantage against most city and KLCC condominiums which are largely freehold. However, we have not seen drastic differences in performance in the sub sale market between leasehold and freehold city condominiums, and so this matter may well be irrelevant. πŸ˜‰

If you’d like us to research for available Pavilion Residences units in the sub sale market, let us know and we’ll help you. This service is free for now.

For an easy way to determine the fair market value for a unit at Pavilion Residence using the “comparative property” method, use GoodPlace.my’s property valuation guide. For your free copy to be emailed to you, simply enter your name and email below.

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Khai Yin

Posts

Apart from looking at and writing about nice apartments, I enjoy eating out (enchiladas!), working out (#beastmode!) and rocking out (Trivium rules!). My daughters Daphne Wenyi and Chloe Qinyi keep me sane. Visit my other blog at GoodPlace.my :)

6 responses to Pavilion Residences

  1. Downside is that this is a 99-year leasehold property.

    • Harry – yeah, but that’s not a big driving factor nowadays, at least from what I gathered qualitatively. Most KL city condos are freehold though and so this does put it at a slight disadvantage. πŸ™‚

  2. I think most buyers don’t mind if it’s a 99-year leasehold property in an upmarket. But if the market is stagnant or on a downtrend, they will be hit harder.

    When the first buyer takes over from the developer, a few years would have elapsed, in essence he is buying a 95-year leasehold property. If he wants to avoid paying the RPGT entirely, he holds it until there are 90 years left, which I think is still fine. But the second buyer might be left holding the can ….

    In any case, I never consider 99-year leasehold. Guess I am old fashion that way πŸ™‚

    • You’re in for the long haul. Now with more and more speculators flooding the market, I can see why the leasehold status is fast becoming a non-issue. πŸ™‚

      • If you’re in it for the long haul you definitely wouldn’t want leasehold. Imagine if a comparable freehold building gets built nearby.

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