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WITH inflation expected to have surged to 6% in June from 3.8% in May and looming recession, investors are unsure whether to enter the property market.
TAMAN Desa, off Jalan Klang Lama, is experiencing a mini property boom as developers zoom into this much-sought-after neighbourhood in Kuala Lumpur.
United Malayan Land Bhd (UMLand) will launch two more high-end condominiums in Kuala Lumpur this year following the launch of its Suasana Bangsar condominiums over the weekend. All three projects will have a gross development value of over RM1bil.
THE success of the Kuala Lumpur City Centre (KLCC) enclave has raised the profile of Kuala Lumpur on the world map, but much still needs to be done for it to reach the status of other world-class cities such as New York, London and Singapore.
Infrastructure around the KLCC area has seen much improvement over the years with better road accessibility and public transport facilities such as the light rail transit and the monorail.
Under the Kuala Lumpur Structure Plan 2020, the city has five goals to achieve in order to assume its place as a major global city. First on the list is to enhance the role of the city as an international commercial and financial centre.
Property consultants are cautiously optimistic that the local property sector would remain healthy despite a possible recession in the United States.
IS the KLCC area already saturated with high-end condo developments?
CONDOMINIUM prices in the famed KLCC neighbourhood seem to be in a state of flux, with foreign investors and fund managers zeroing in only on prime developments that offer potentially good returns.
Viva Residency, a condominium-cum-commercial development by the Beneton Properties group, has sold about 30% of its condominium units within a month of its launch recently.