Marc Residence (or officially known as Marc Service Residence) is located within the KLCC enclave, and has the reputation of being one of the most prestigious real estate developments in the Klang Valley. The prices can be prohibitively expensive, but it’s well worth the investment if affordability is not an issue. The prices have tapered a little over the past year or two, and that could present a window of opportunity for investment.
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Note: It does seem that there are lots of choices of available units if you’d look at the listings at the local property portals, but we do notice that there are lots of “stale” listings which have not been removed by the prospective agents. Since I look at listings and talk to agents everyday, I am able to quickly sift through the “crap” listings in order to identify the legitimate ones for rent or for sale. If you’d like us to do the research for you, get in touch with us using this handy form here. The service is free. 🙂
Now back to Marc Residence…
Launched in the third quarter of 2007 at the price of MYR700 PSF, the price has gone up in the last few years – with some units demanding double the launch price even. A freehold serviced residence, Marc Residences is developed by Beverly Tower Development (in collaboration with Singapore’s CapitaLand) and located on Jalan Pinang – a stone’s throw away from the Petronas Twin Towers. It is directly opposite OneKL – which gets its own review here. Ascott and Kirana Residences is further down the road.
Do You Fit Into The Buyer’s Profile?
Marc Residences is targeted at the higher end buyers – make no mistake about it. Sub-sale prices has gone to about MYR1,200 PSF at the time of writing this article – well above the average even for KLCC condominiums. Correspondingly, rentals can fetch as much as RM18,000 for the upper-range penthouse!
See the infographic below for comparison with some other condominiums in KLCC.
Consisting of two blocks with 35 stories each, there are four layouts to choose from – ranging from one to four rooms per apartment (496 – 3,626 sq ft). The biggest four-room apartments boast of private elevators – a major selling point for some discerning buyers.
Update: According to our industry sources, prices have been going on an upward trend recently with the re-emergence of investors from East Asia. The smaller units now command a higher PSF price of RM1,500+ with the bigger units now getting closer to the RM1,400+ level. Is this, however, fair price to pay? Find out for yourself – use our simple property valuation guide to help you make wiser investment decisions – go here to download your free copy.
The facilities are rather off-the-mill with your usual gyms, (a common) swimming pool, tennis courts, playground and common rooms. They are well-maintained and definitely worth the premium that you’ll pay for in terms of the maintenance fees.
As with any other KLCC condominium, Marc Residence is rife with insider stories and gossips that we continue to receive from our regular readers who come from different backgrounds in the industry: agents, buyers, sellers, investors, developers and property managers. Below are some of these stories which may give you an alternative point of view on the property. Disclaimer: as we have not independently verified the accuracy or the timeliness of the information presented below, we are not responsible for the actions you choose to take resulting from consuming this information. Thank you for understanding.
[to_like id=”1377″]Some of the prospective buyers that we spoke to seemed to prefer investing in the units branded as “Marc Service Suites” even though they are at a +25% premium over the regular units. These branded suites are managed by Ascott (which also manages Kirana Residence), and comes with a guaranteed yield (although this may have changed). With rental yield continue to dip downwards this may be a good proposition for investors although the premium may be hard to justify for some.[/to_like]
Got a “gossip” to share? Email us at: firstname.lastname@example.org 🙂
Location: Near The Nerve of KLCC
Being in the heart of the KLCC enclave could be problematic as far as private transportation is concerned. The KLCC area is somewhat infamous for its massive traffic jams, and if you want to live in the area then it’s advisable that you work here as well. Otherwise you’ll spend lots of time on the road battling the traffic daily…
The typical tenant here at Marc Residences would be a career-oriented person, always on the go, has got the budget to enjoy the finer things in life, single or maybe has a small family, doesn’t mind the hustle and bustle of the city, and probably works within the KLCC enclave as well (perhaps in the Petronas Twin Towers). There is also a rather significant number of expatriates living in Marc Residences. These are typically international executives attached to multinationals on short leases.
There is a Delicious cafe on the ground floor, serving delicious local and Western fare. It’s a great place to have tea on a lazy Sunday afternoon…
If you can deal with the public transport then you’re in luck – the KLCC area is well connected by the major bus lines as well as the LRT and Monorail. It is also just next to the Golden Triangle which may well be the busiest area in the entire Kuala Lumpur (and nay the Klang Valley).
Occupying one of the prime-st locations in the whole of the KLCC enclave, it’s no surprise that many amenities are within walking distance. Marc Residence’s GoodPlace Walkability Score (GWS) is 96, which is one of the highest ever for a KL city condominium. Use this interactive map below to check where the closest amenities to the Marc Service Residence are (toggle the hotspots using the shortcuts in the right sidebar).
[poiautomap address=”Marc Residence Jalan Pinang Kuala Lumpur” zoom=”15″]Marc Residence[/poiautomap]
- For more information on what the GWS means, and to download a beautiful KLCC map complete with the walkability scores of most KLCC condominiums, click here.
Marc Residence has the advantage of occupying one of the best locations in the heart of Kuala Lumpur, and as with any city condominium in a central location, it’s usually a little older than the rest. However, it looks rather well maintained so far, and the Marc Service Suites being managed by the neighbouring Ascott we can perhaps safely assume that the maintenance will continue to be of high standard.
If it’s within your budget the Marc Residence is well worth the investment in our opinion – but only if you are able to procure a unit which is below the “fair market value“. You can find out for yourself how much a unit at Marc Service Residence is worth using a free guide courtesy of GoodPlace.my which we will email you once you filled in this form below –