Tag Archives: property
With a modern exterior, the Idaman Residence contains 250 apartment units. The development company that created this apartment complex is Orchard Park, which is a subsidiary of TA Global Berhard. Construction of the building finished in 2008. The high-rise building contains units that are affordable in price compared with other exclusive high-rises in the area. Each apartment unit also features a roomy balcony that provides a stunning view of Kuala Lumpur Community Center (KLCC).
A benefit of living in this gorgeous building is access to the plentiful amenities within and surrounding it. These amenities include an in-house gym, two swimming pools, gorgeous garden and lobby. Some of the amenities are accessible by foot, but the GoodPlace Walkability Score (GWS) has ranked the Idaman Residence with a 93 out of 100 for the walkability of its amenities. The lobby is a great place to hang out, read a book or sip one’s coffee in the morning. It has an impressive look, and numerous modern sculptures and art pieces can be found in the area. The current asking prices for Idaman Residence units is an average of 1 million Ringgit Malaysia (see Idaman Residence Listing here).
The condo building is nestled in one of the hottest nightlife areas of KLCC. In just minutes, residents can walk to their favorite restaurants and bars. Upscale boutiques and shopping centers also surround the condo building. Residents live in an urban setting with a dense population. However, the plentiful space in the Idaman can give residents the refuge that they need to get away from the city.
The units in the Idaman may be a great investment for real estate investors. These apartment units are poised to grow in value in the upcoming years. As international clients continue to flock to Malaysia for a getaway, they are increasingly seeking chic living arrangements like those offered by the Idaman.
The Idaman is also a great place for families to consider. The complex contains a swimming pool designed for children. Children can also enjoy playing in the outdoor park maintained by the Idaman. The condo building also maintains 24-hour security, so families can feel safe residing in a unit within the building.
The building is conveniently located near public transportation options. Those who work in the city will find it easy to get to work for their daily commute.
Overall, the modern and sophisticated appearance of the Idaman makes it a great place to live. Residents also love the numerous amenities available in the building. Whether residents want to hang out in the rooftop garden or enjoy the view of KLCC from their private balconies, the Idaman offers it all. This luxury high-rise is located across from Menara TA and also directly faces KLCC.
The rising costs of building materials, combined with the rampant speculation, has driven property prices beyond the reach of many Malaysians, especially young working couples. A check on Malaysian property portal, HomeGuru.com.my, revealed that even the prices of condominiums along Jalan Ipoh in KL is hovering around the RM400/sq ft range.
Under the My First House Scheme, first-time house buyers in Malaysia will not have to pay the 10% down payment and will be able to obtain a 100% loan. However not everyone will be able to enjoy this scheme as mentioned, it is only for those with a household income of less than RM3000 per month.
Besides this, there are also other requirements which must be met by the home buyers such as the property having a maximum price of RM222,000, stamp duty exemption of 50% on transfer on a house RM350, 000 or less, and stamp duty exemption on 50% for loan agreement instruments to finance first time buyers.
Also, in conjunction with the scheme other projects were also announced to assist the poor and low-income group such as the Projeck Bantuan Perumahan Bandar where 300 units of affordable homes will be built, the Program Perumahan Rakyat of which 79,000 units will be up for sale and Bantuan Rumah Sewa where 8000 units of property will be rented out.
These recent moves by the government are certainly a commendable effort in assisting the lower income group in obtaining their first home, however, it also comes with its drawbacks. For example, if a buyer who takes a full 100% home loan will end up paying a higher monthly instalment than average, due to the higher loan amount. Hence, instead of helping this particular group of people it could also potentially cause financial burden as well.
While the response has been lacklustre so far, it is the government’s responsibility to convince the Malaysian public that is not a publicity stunt to garner votes and that they truly care about the welfare of the people. Like Iskandar Malaysia, the My First House Scheme requires a lot more follow through for it to be truly successful.