Current economy situation has forced the city centre (KLCC) and mont kiara properties' price dropped by 25%-30%. The price will further dropped if the confidence in new government do not improved over next few months (in first 100 days of Najib's administration).
However, the price in suburban of KL remained stable and only dropped about 5%-10% due to purchasers' "wait and see" attitude. Some of the location still moving upwards slowly if the location (people said the 1st strategy to invest in property is Location, the 2nd is still location 3rd is also location ) is right especially properties near LRT, Highways, Chinese School, College/University, ready infrastructure and gov't facilities.
Even though dropping 30% in price, the first buyer still make about 40% profit, as the price near KLCC and Mont Kiara was almost doubled from 2003 to 2008.
For the first time investor, it is advisable to invest in existing property with known price and returns in a mature township.
For example:- Menara Alpha condo is about 11 years old, and average selling price is RM200 psf (average condo price is RM200,000), if the rental return is between RM1300 to RM1500, then you will have gross return about 7.80%-9% (which most investors are expecting average 8% ROI).
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