Dig this – Binjai Residency has been tagged as “one of the most prestigious condominiums EVER BUILT in the KLCC area” by certain quarters. While that’s rather arguable (I like the majestic Binjai On The Park just a wee bit better!), because its mere stature alone is enough to get your attention.
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Situated in the heart of bustling KLCC and just within walking distance from the Petronas Twin Towers, Binjai Residency is a freehold condominium that offers three layouts for potential residents to choose from. Developer Amity Binjai made sure that the condominium lies in a very strategic location in quiet Lorong Binjai as the area is surrounded with financial institutions and entertainment spots.
Walkability Score (And A Free Map)
Binjai Residency has got a GoodPlace Walkability Score (GWS) of 81. “Walkability” is the measure of how “walkable” it is to important amenities such as transportation points, eateries, schools, police stations, etc. For a more detailed description (and a free downloadable map detailing the walkability scores of KLCC properties) click here. It’s kinda pretty. 🙂
Use this interactive map to see where the closest amenities and attractions to the Binjai Residency are. The sidebar on the right contains icons which can be clicked in order to toggle the hotspots – try it.
[poiautomap address=”Binjai Residency Kuala Lumpur Jalan Binjai Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Binjai Residency[/poiautomap]
Binjai Residency Pricing Trends and Analysis
Prestigious condominiums like the Binjai Residency comes with a rather hefty price tag, as you would typically expect from an upscale KLCC condominium. Its launch prices way back in 2005 was at a low (relative to today’s standards) RM460+ per square feet. Fast forward to six years later in 2012, the condominium’s unit (asking) prices have increased to RM1,000 per square feet. It has been reported that early investors are able to bring in a five figure net gain monthly for renting out its units to tenants. We can’t verify this, but looking at the trended rental rates in the last three years this seems to hold water.
Currently, the average sale price for a unit at the condominium plays in the RM800 – RM1,300 PSF range. Its prices have been increasing every year, starting from 2009, and finally hitting its peak on 2011. Pricing was rather flat due to the completion of Binjai 8 right next door, providing alternatives with smaller unit sizes.
In October 2013, there has been a recorded transaction at RM880 PSF for a unit with build up of 2,295 sq ft; the unit was sold with a tenancy which means that the price was perhaps a little higher than average. The rental yield was approximately 4%.
- If you’re going to value a Binjai Residency unit, remember to factor this in when estimating a fair price. If you need help in that, use our easy valuation guide which you can download here. It’s free.
Below is a collection of “gossips” that we have garnered mainly from agents and potential buyers both online and offline regarding Binjai Residency. We have not independently verified these, and so, take them for what they are – gossips. 😉
Hotel-Like Living in the Heart of the City
While prestige and luxury are both synonymous to Binjai Residency, there’s no doubt how “convenience” should be added on the condominium’s already long list of (good) adjectives. Its location would make it easy to walk around KLCC, as establishments flourish in the area. Also, the abundance of financial institutions, corporate offices, and banks allow the condominium’s residents to go to and from work with ease.
The KLCC LRT station is only within walking distance. Ampang Park LRT station is a mere three minutes away, so one does not need to worry about public transportation. Other modes of public transport—taxi stands and bus stops—frequent the area. The condominium is also accessible via Kuala Lumpur’s major highways and roads.
Exclusivity is one of the Binjai Residency’s trademarks. In terms of facilities and perks, the condominium boasts of units that come with a furnished kitchen, master’s bedroom, and a centralised water filtration system. Residents also have access to a parking bay that makes up of five storeys. In addition, the condominium also lists a wide array of facilities and amenities to keep its residents active, happy, and safe. These include:
- A tennis court
- A reading room
- A multi-purpose hall
- A barbecue area
- A gymnasium
- Swimming pool
- A business center
- Broadband internet
- 24-hour security
Unit Structure, Sizing, and Areas
Units at the Binjai Residency are as follows: executive, premium, and penthouse. Executive units are located from the 6th to the 23rd floor, and its sizes start at 2,096 square feet to 2,208 square feet. The premium units are from the 24th to the 29th floor, and are sized at 2,213 square feet to 2,326 square feet. Penthouses are located on the 30th floor, and its sizes range from 1,951 square feet to 2,326 square feet. Each floor houses only four units, allowing privacy and exclusivity for its residents.
Premium units come with a mini-theatre that includes a plasma television. Penthouses are built with a 42 feet (in length) infinity pool, as well as a pool deck and a rooftop garden that overlooks a spectacular cityscape view.
We like the Binjai Residency because it occupies one of the best spots in the KLCC enclave on Lorong Binjai just off Jalan Binjai, which means that it shares the same address as the prestigious Binjai On The Park and Troika. While the PSF price is fair at around the median RM1,000 point, the larger units means that the entry price could be steep (at least RM2 million).
Comparatively, the newer, spankier Binjai 8 next door features 700+ sq ft units which are more expensive at around RM1,200 PSF asking price. Which would you rather own – a smaller, newer unit at Binjai 8 or a bigger Binjai Residency unit which is more expensive for about RM250,000? Choices, choices… 🙂
On a more negative note, Binjai Residency is now swamped in a rather densely populated area with Binjai 8 next door; the Corinthian is down the road as well as the Troika. This means that traffic congestion is rather inevitable during peak hours, and some of the views are blocked by the other developments.
Finally, with so many choices around the Binjai area inside the KLCC enclave, the question of supply vs demand means that capital yield in the shorter term would probably suffer. Wondering whether your investment would make sense or not? Well, it all depends on how much you pay for a unit obviously. Use GoodPlace.my’s valuation guide to help you nail down the price that you should pay in order for you to make money – enter your details below.