Condo market KL? Not awesome currently. However, for the luxury segment, when the super wealthy likes it, they will buy. Perhaps this is what SP Setia is targeting with their latest launch which will set new benchmark pricing per sq ft. As per reported by Theedgeproperty.com, SP Setia’s KL Eco City divisional general manager Tony Ling said that the ViiA Residences within the KL Eco City would be setting a new benchmark pricing of RM1,600 per sq ft. Of course this is not the highest in KL city centre but for the Mid Valley and Bangsar areas, this is the new benchmark. The starting price would be RM1 million and the launching date is end-August 2016.
Total units would be considered low density. A total of only 326 units with built upsizes ranging from 650 sq ft and 1,300 sq ft. This is the second serviced residence after the 708-unit Vogue Suites which has been fully taken up at an average selling price of RM1,300 per sq ft. It will be connected via pedestrian bridges to the Light Rapid Transit (LRT) station, Mid Valley City as well as The Gardens shopping Mall. Ling added, “We are targeting high-income young professionals aged between 30 and 45 years old who want a vibrant city lifestyle and are looking for a home in an integrated development, which offers various facilities and amenities within walking distance.” Yes, his target market is definitely the senior management in companies operating within the area.
It will be completed by 2020 and construction starts end 2016. Currently, a sneak peak is being offered for the ViiA Residences through a mobile gallery which has been making its round in the Klang Valley since June 17 and will continue till next week, 23 August. As per Ling, the total registration has reached 3,000. It meant that even if just 10 percent decided to take up, it should be fully sold? 🙂 In terms of loan approvals, I seriously do not think there are too many young adults looking to over-stretching just to book a unit. Somehow I have yet to view that mobile gallery. I think they are not looking at me as a potential buyer. Haha. To those who qualify, happy viewing and deciding.
written on 14 Aug 2016
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