|Apartment / Hotel
|Amber Court Villa D’Genting Resort (Also known as Amber Court Apartment)
|Number of units
|747 residential units
|624 sq ft to 2,390 sq ft
Amber Court in Genting Highlands is famous for the rumours of it being haunted and abandoned, but many may not know that more than RM1.4 million has been spent to give the apartment a facelift and to make it a desirable place to live! Let’s take a look at what happened to Amber Court and its current state today.
One of the buildings that is often associated with such stories is Amber Court Villa D’Genting Resort, an apartment project located 1km away from Resorts World Genting.
Amber Court has unfortunately courted a stigma that refuses to leave its side. It is often described as eerie, with many stories of hauntings.
It opened in 1996, and started gaining its infamous reputation when red algae began growing on its exterior and parts of the car park, which was also home to many rusting cars. The streaks of red algae, combined with weary paint, gave Amber Court’s exterior the perfect look of despair.
Despite this, Amber Court has a silver lining.
A Quick Review Of Amber Court
Amber Court is about 3km from Resorts World Genting. It was intended to be a resort. However, based on an article by The Rakyat Post, Amber Court was sold as apartment units due to the Asian financial crisis in 1997.
Amber Court is about 53km (approximately 1 hour 15 minutes’ drive) from Suria KLCC, in the heart of Kuala Lumpur. Within Genting Highlands itself, Amber Court is about a 13-minute drive from Resorts World Genting. It is at the end of the road, and it offers a breathtaking view of the mountains.
Amber Court is often mistaken as abandoned. It isn’t. As its reputation precedes itself, that has taken a toll on the property’s value. However, things could be turning around for Amber Court. In 2019, parts of the building were refurbished in efforts to dispel horror stories.
At the main lobby today, residents and visitors are greeted by a brightly lit 24-hour KK Mart. There also a reception for a homestay business.
Some businesses closed down during the pandemic, but that is slowly changing as the economy has opened up and tourism is returning to this popular destination. Most of the commercial lots are located on the 4th and 5th floor of Amber Court.
The Investment Potential Of Amber Court Apartment
Vivahomes Realty (Cheras) team manager Jimmy Kan, who has several Amber Court Apartment units listed for rent in iProperty Malaysia said that as people return to holiday destinations such as Genting Highlands, there a return demand for properties in there, including Amber Court.
“Basically, the tenants there are mostly foreign workers. With the new management in place, the boss of KK Mart, Datuk Seri Dr. KK Chai, is the Management Corporation’s chairman, and there have been improvements made,” he told iProperty Malaysia.
“There’s also a limit to the number of foreign workers living in a unit. Amber Court has been attracting more contract engineers, supervisors and managerial level personnel in as well. Mostly, there is a target for long-term rental, and on-and-off there are owners who rent out as Airbnb,” he added.
According to the rental and sale listings on iProperty Malaysia, apartments at Amber Court have an indicative average rental yield of about 7.58%, which was derived from the average asking rental of RM2.02 per sq ft and the average asking price of RM320 per sq ft as of 28 July 2022.
Here’s the calculation for the gross rental yield:
[(RM2.02 x 12 months) / RM320] x 100 = 7.58%
Kan shared, “There are more and more rental deals when Genting opened its doors post-pandemic. As the area comes to life again, the rental for studio units to 3-room units ranges from RM1,400 to RM3,700.”
Check out listings on Amber Court
Could you get passive income from purchasing and renting out a unit at Amber Court Apartment?
Let’s do a quick and rough calculation. For example, if an investor purchases a 930-sq-ft Amber Court unit at RM340,000 and rent it out partially furnished at RM1,900 per month, the gross rental yield would be 6.71%. Would there be passive income for an investor?
Let’s take a look at loans, and assume that an investor puts a down payment of 10% to purchase the unit.
- 10% down payment: RM34,000
- Loan amount: RM306,000
- Interest rate: 3.5%
- Loan tenure: 30 years
- Monthly installment = Approximately RM1,374 (calculated with the iProperty Mortgage Calculator)
As for the maintenance charges at Amber Court, Kan shared with iProperty Malaysia that it is RM0.32 per sq ft.
So, if the property investor deducts the maintenance fee of an approximate RM297.60 per month for the 930-sq-ft unit, then the investor has about RM228.40 (RM1,900 – RM1,374 – RM297.60) cash in hand per month.
Pros And Cons Of Investing In Amber Court
Based on data from iProperty Transactions, however, the median transacted price of Amber Court Apartment is only RM224 per sq ft over the period of March 2021 to February 2022.
Commenting on the claims that Amber Court is haunted, Kan opines, “Rumours are just rumours, nothing supernatural. The motive behind the rumours can vary. When the price (of Amber Court) drops, some people come in to grab it as a cheap property.”
So, Amber Court could be an entry for property investors to snatch a freehold property in Genting Highlands. Plus, it is one of the buildings which is just about 10 minutes from the lively hub of Resorts World Genting.
On the other hand, Amber Court is an older property, and that means investors might need to spend on renovations and repairs. Of course, there’s also the stigma, which could hinder Amber Court’s capital appreciation potential and rentability.
If you’re looking to sell or purchase a property, remember to check on recent transacted prices. You may do so at the iProperty Transactions Section. You’ll be able to make better decisions based on 12-month sub-sale property transaction data.
iProperty Transactions: Get the latest subsale property transaction data for FREE to help you make the best-informed property decisions. No sign-ups required!
A Quick Backstory: How Did Amber Court Get Its Poor Reputation?
Once Amber Court’s exterior reached its full eerie and creepy look, the building’s infamy grew as vloggers started documenting their stay there, and a local film titled ‘Haunted Hotel’ was filmed there.
In recent years, parts of the building were refurbished in efforts to dispel the rumours. Under the Amber Court Management Corporation, the building has been repainted and the abandoned cars were removed. However, parts of the car park are still covered with red algae.
Despite this facelift, the Amber Court stories still persist. A reporter from Insider noted, “Amber Court was developed to be the go-to hotel for a nearby theme park. The theme park, however, was never completed, and has since been abandoned.
“The hotel’s developer, Villa Genting Development, was liquidated in 2000. The hotel fell into disrepair, with red algae coating its exterior and a parking lot full of rusting cars.”
Amber Court In The News In 2022
In a press conference in June 2022, Amber Court’s management committee pushed back against the haunted rumours and threatened to take legal action against content creators and conmen who spread false information about Amber Court.
Amber Court Management Corporation chairman Datuk Seri Dr KK Chai, who is also the founder of KK Group of Companies, highlighted that the allegations are baseless, and none of them has encountered any supernatural activity or disturbances at the Amber Court apartment.