There’s anticipation building up in the air somewhere in Jalan Kia Peng — for Vipod Suites, the latest property being developed by Monoland, is set to rise here end 2013. Vipod is flanked by rather “old” KLCC apartments – being next to the for-rent-only Menara Pinang and across the road from 3 Kia Peng.
Click here(and scroll down if needed) if you are looking for property listings for Vipod Suites.
We’d like to share a lot of details about the Vipod Suites, but it seems like Monoland is keeping them all to themselves. There are some illustrator graphics at Monoland’s website, but they are rather, well, simplistic. If this is Monoland’s way of building up the hype, then it’s really, really working 🙂 We have made a recent trip to the construction site and it seems that everything is at full swing, and we hope that it will meet its end of the year completion target.
Monoland’s previous KLCC project, the Quadro has received positive to mixed reviews; according to a purported Quadro buyer, buying from Monoland is akin to buying Mercedes from a Perodua dealer! Not too flattering, I must say.
There’s also a blog post somewhere which mentioned that the units were sold to bulk purchasers even when the S&P has been signed with an individual buyer. This remains unverified of course (and nobody should believe anything on face value the stuff they read on the Internet – this blog included!). Also, according to our favourite Malaysia real estate blogger Sin Leong, there was a case of a burst pipe which flooded many floors in Block A – see here (“Wet, Wet Vipod“).
Given Monoland’s rather rich portfolio (the upcoming SoHo Suites also in the KLCC enclave near Fraser Place, Oval Residences, 8 Gurney and Gurney Park up north in Penang) it seems a little hard for it to screw this up… but we shall see. 😉
What We’ve Gathered So Far…
One of the best qualities about the Vipod Suites is its very convenient location. Slated to rise in between the Pavilion and KLCC, it’s almost sure how this freehold condominium will attract both locals and expatriates alike. It’s quite central even by KLCC standards, and it does seem that everything is available on foot. Suria KLCC and Pavilion on Bintang Walk are both available at short walking distance. A winning proposition, for sure.
There are also some “insider gossips” that we have gathered from the people in the industry which you can read by unlocking the section below with a Facebook like. Disclaimer: these are not verified, and so “use” them with discretion.
There will be several blocks that would comprise of either 38 storeys or 41 storeys. As far as its total number of units would go, we were told that the condominium is expected to have either 367, 418, or 440 units, spread over three wings that have access to four private lifts and one service lift.
Now since information about Monoland’s latest development seems hard to come by, we’ve researched really hard in order to give out details to interested buyers and investors. Here’s what we know about Vipod’s units so far..
- Vipod’s Price: One bedroom units are slated to sell at around RM670,000, and an estimated RM900,000++ for 2+1 bedrooms. While our resources might be limited when it comes to giving out detailed pricing information about Vipod Suites, we can tell that its prices are still quite reasonable and would be a perfect score for any investor who would like to invest on a fairly upmarket property from a developer with a track record without having to burn holes in their pockets. To check out how much you should pay for a Vipod unit, use this guide (click here). Additionally, see our analysis below for more pricing information.
- Built-Up Areas and Layouts: Vipod units are expected to have layouts that comprise of a 2+1 bedroom unit, a two bedroom unit, and a one bedroom unit. The smallest unit is measured at 653 square feet. Every floor would house a total of 11 units, and every floor would also be divided into three clusters that would comprise of three to four units.
- Other Good Things to Know: Residents are expected to get one parking slot. For views, 2+1 bedrooms would get a glimpse of KLCC. Facilities and amenities would include a sky bar, a swimming pool, a business centre, concierge services, a sky lounge, and a sky gym.
- More Good Things to Know: Luxurious living awaits residents, because each unit at the Vipod Suites would come with a water heater, kitchen cabinet, designer sinks, air conditioner inverter system for bedrooms, microwave ovens, hot and cold water mixer, and hot water piping. Designer brands that are used to furnish every Vipod unit include Daikin, Lifeness, Toshiba, Teka, Soverign, Hansgrohe, Toto, and Dedon.
As far as amenities are concerned, it’s easy to notice how Monoland made sure how Vipod’s units would cater to everyone with a distinct taste for quality and class. Exclusivity and privacy are also bonuses, as each floor is divided into three clusters. There will also be concierge facilities at the reception as well as some small offices, meeting rooms, business centres as well as a handful of retail outlets.
Location & Walkability Details
Walkability is a strong selling point for urban condominiums, and particularly for apartments located in the KLCC enclave. Vipod’s GoodPlace Walkability Score (GWS) is 82 – which is very good even among KLCC condominiums. To find out what this means, and to download a free KLCC Walkability Map click here (comes up in a new window).
Use our interactive map below to check where the closest amenities to the The Vipod Suites are.
[poiautomap address=”KLCC Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Vipod Suites[/poiautomap]
Update: Yield Decline To Continue
When Vipod was launched a few years back the advertised price was at RM900 PSF; with rental around the RM3,500-RM4,500 point this translates to about 5% yield. However, the asking prices have been breaching the RM1,500 PSF point (see the accompanying pricing chart), the rental stays more or less the same, resulting in the decline of yield to about 2.5%. We expect this trend to continue as long as the capital appreciation outpaces rental growth.
What We Think
We like Vipod for a couple of factors – its prime location (of the entire KLCC enclave, we have a soft spot for Jalan Kia Peng – serene while still central to the action) and particularly for the low density factor. Privacy remains a concern for many of these high density KLCC apartments, and thankfully Vipod has got this sorted out rather nicely. Each segment per floor (containing either three or four units depending on the configuration you choose) is serviced by three lifts – a real treat. Additionally, the furnishing is fantastic and represents rather good value for money.
If you’re getting a unit here, be sure to check out the views as not every unit faces the premium Petronas Twin Towers. As it is surrounded by office blocks (notably UOA) and the rather ugly Menara Pinang, you’ll have to clear at least 20+ floors before getting a view of the Kuala Lumpur skyline. There’s also minor tracts of land available next to it which means that if you get a lower unit, you might risk waking up one day and facing somebody’s loo at your window.
Finally, about the price. The average launch price was at RM850 PSF in 2010, and with asking prices etching towards RM1,000 PSF even at that time it could be seen as a bargain. If one would track Monoland’s history of launches he or she would notice this “practice” of pricing the launch at slightly below market prices in order to drive demand. Same thing here with Vipod. Also, apparently there’s a “pairing requirement” where smaller units are only available for buyers who purchased bigger units. Many may scream foul at this, but the developer is holding the trump card in this case.
True enough, the price appreciation kicked in and the sub sale market for Vipod has now gone full retard (pardon the rather vulgar term, but blame Hollywood for popularizing this term) with asking prices reaching as high as RM1,600 PSF as we checked Property GooRoo this morning. Branded residences like RuMa sold for RM2,000 PSF, but which could well represent the high bar for Vipod, and personally here at KLCCcondominiums.my we DO NOT see it reach that levels, although we may be forced to eat your words later this year when it does. *praying hard*
Meanwhile, you can estimate the fair market price for Vipod yourself using this GoodPlace.my guide by filling in your name and email below. Good stuff. Go read it.