KUALA LUMPUR (March 20): Due to land scarcity in Kuala Lumpur, the city has increasingly been built vertically. Besides commercial buildings, residential high-rises of all shapes, sizes and attributes compete to offer the best values in the market.

So, among more than 1,000 condos in KL, which ones have experienced the greatest appreciation in value in the 2024 market?

To find out, we have conducted desktop research by using EPIQ Monitor and picked the top five condominiums that appreciated the most in median transacted price psf in 2024. The five projects are 18 Madge, The Estate, Rimbun @ Embassy Row, Three33 Residences and Endah Regal.

Topping the list was KSL Holdings Bhd’s 18 Madge, a freehold condominium located in Ampang Hilir. This single 12-storey block was completed in 2022 and only offers a limited supply of 50 units, with built-up areas ranging from 2,234 sq ft to 2,776 sq ft.

Located in the KL city centre, it is not only surrounded by vibrant facilities and amenities, but also notable landmarks, such as the Petronas Twin Towers, Pavilion KL, and The Exchange TRX, among others. Its median transacted price increased by 14.6% year-on-year (y-o-y) to RM1,253.90 psf in 2024, bringing its median absolute value to RM3.2 million.

The runner-up was The Estate, a freehold condominium located at Jalan Pantai Prima in Bangsar. Developed by Bon Estates Sdn Bhd, it comes with two blocks of 46 storeys, comprising 328 units, with built-up areas ranging from 2,346 sq ft to 7,057 sq ft.

Home prices in this premium KL city centre location have consistently appreciated since its completion in 2020. In 2024, the median transacted price culminated to 12.4% y-o-y to RM1,000 psf, translating to an absolute value of RM3.1 million.

Located at Jalan Ampang Hilir, Rimbun @ Embassy Row is surrounded by high-end developments and embassies from around the world. Since its completion in 2015, the project has become one of the most luxurious condominiums in KL, housing mostly expats, particularly diplomatic officers.

Developed by Amphil Corporation Sdn Bhd, this freehold building has 17 floors with 52 units of 3,500 sq ft to 4,500 sq ft. Median transacted prices here saw subdued rates in the post-pandemic years of 2021–2023 before jumping 11.3% y-o-y to RM1,286.6 psf in 2024, or a median absolute value of RM5.5 million.

Ranked fourth, Three33 Residence was completed in 2020 by TSI Domain Sdn Bhd. This 23-storey leasehold development, so named for its 333 units, offers built-up sizes from 760 sq ft to 912 sq ft, catering to the needs of small families.

Located in Kepong, a mature neighbourhood in the Batu district of KL, the median transaction price of this project experienced slight drops in 2022 and 2023 before chalking up a significant increase in 2024. With a 10.8% y-o-y increase, the price reached RM697.90 psf in 2024, translating to an absolute value of RM605,000.

If you think an older condominium might lose its value in a competitive high-rise environment, Endah Regal will prove you wrong. The project, completed in 1995 by Soon Teik Development Sdn Bhd (a subsidiary of PJ Development Holdings Group), is located in Sri Petaling, a vibrant suburban neighbourhood. It consists of three blocks of 19-storey buildings, with built-up space ranging from 1,107 sq ft to 1,141 sq ft.

With 85 years remaining on its lease, the development has demonstrated strong appreciation in recent years. After experiencing a 26.3% spike in its median transacted price in 2023, its value further increased by 10% y-o-y in 2024, reaching RM482 psf, resulting in an absolute value of RM550,000.

Tam You Sheng / EdgeProp.my 

March 20, 2025 | Updated 6 days ago

Full Article:  http://www.edgeprop.my/content/1912111/which-kl-high-rises-beat-competition-2024