Here is a list of condominiums and serviced apartments in Malaysia that have benefited from high property value growth in the past 10 years. Let’s delve into the reasons why these residential properties appeared as winners and what lessons homebuyers and investors can glean from them.
A recent in-depth analysis was conducted by iProperty.com.my on residential high-rise development with the highest capital appreciation growth over the past decade (2012-2022). The article will examine the Top 5 winners in the 4 main Malaysian states – Kuala Lumpur, Selangor, Penang and Johor and outline the rationale as to why these properties have appreciated extremely well.
The 10-year time frame has been selected due to its alignment with the typical duration of an economic cycle, which can span up to a decade. This period allows iProperty.com.my to analyse properties that have experienced the four crucial stages of an economic cycle – expansion, peak, recession, and trough. By doing so, the list showcases assets that have demonstrated resilience over time and experienced steady capital appreciation.
The top residential properties below are ranked according to the highest capital appreciation growth in 2022 versus 2012. Raw data is sourced from the Valuation and Property Services Department (JPPH) and then analysed by PropertyGuru DataSense, the data, analytics and solutions arm of PropertyGuru Group. We have also taken steps to ensure that any outliers have been removed to mitigate data distortion.
Capital appreciation has always been an important element in property purchases or investments as it is a long-term wealth-building strategy. The listed developments in this article have several commonalities and the foremost factor is their fantastic location. Quite a few winners are older condominiums built by developers who had the luxury of purchasing premium land on elevated grounds surrounded by lush greenery. Moreover, these developments feature well-designed landscapes with garden or resort concepts, bringing tranquillity right to the residents’ doorstep.
Another prime ingredient for these well-appreciating properties is its maintenance. Many of these development’s management committee give high priority in ensuring the building and facilities in the property compound is well managed and kept. Often overlooked and undervalued by property owners and investors, property maintenance will surely extend the lifespan of their properties while quickly addressing preventable deterioration which translates to an increase in property value in the long run.
Properties with highest Capital Appreciation in Kuala Lumpur
1. Jamnah View Condominium, Bukit Damansara
Capital Appreciation: 94.4%
- Median PSF in 2012: RM738
- Median PSF in 2022: RM1,435
As one of the first high-rise developments in its area, Jamnah View is a 3-decade old building with the advantage of securing its exclusive location within the lush, green surroundings of Damansara Heights. Known for its gently sloping hillsides and winding roads guarded by shady trees, this affluent neighbourhood is 5 minutes away from lively Bangsar ensuring its residents the best of both worlds. It offers only 101 units – 5 blocks of townhouses (walk-up studios) and a high-rise block with 21 floors (all built in a circle around the pool). Jamnah View also has well-designed expansive grounds, including palm trees to create a resort-style environment.
This freehold development offers 4 types of units, i.e. 1 bedroom, 2-bedroom, 3 bedrooms, as well as penthouses with built-up sizes ranging from 700 – 3,500 sq ft. Jamnah View is easily accessed via Jalan Ara and Maarof in Bangsar and nearby SPRINT Highway, Penchala Link, New Pantai Expressway (NPE) and Federal Highway. In terms of public transportation, Semantan MRT is merely a 5-minute drive away.
Jamnah View’s management committee has given a lot of attention to property maintenance. Exterior wall and corridor repainting, landscaping work and road resurfacing are done to ensure residents’ quality of living. A number of the units have also been renovated, incorporating modern features aligned with the needs of the current homeowners/tenants. However, there are still some units with outdated bathrooms and furnishing. Another appealing factor for this property is its location right behind Bangsar Shopping Centre, with a walking entrance to the mall specifically for its residents.
2. Antah Tower, Jalan Kuching
Capital Appreciation: 87.3%
- Median PSF in 2012: RM252
- Median PSF in 2022: RM472
Antah Tower is one of the few condominiums that enables its residents to reap the benefits of its strategic location in the heart of the city. This freehold development is accessible via many major roads, including Jalan Kuching, Jalan Duta, Jalan Ipoh, Penchala Link and New Klang Valley Expressway (NKVE). This superb network connection allows travelling to places such as Malaysia International Trade and Exhibition Centre (MITEC), Putra World Trade Centre (PWTC), and Petronas Twin Towers, as well as shopping malls like Plaza Damas and Publika Shopping Mall very convenient. However, its residents do experience bad traffic congestion during peak hours as it is situated in a prime residential area.
With only 132 units, this freehold development is a sought-after property by tenants/homeowners who seek more of a quiet environment, compared to other neighbouring condominiums, i.e. Sri Putramas and Royal Domain Condominium, which are more high-dense. The 24-storey high rise offers five layouts with built-up sizes ranging from 680 sq ft to 1,600 sq ft. These layouts are well-designed to accommodate different house household sizes, from a 1 bedroom 1, bathroom unit to a 3+1-bedroom, 3-bathroom unit, which makes this property an excellent choice for both investors and first-time home buyers.
Despite being completed in the early 90s, the development has incorporated all the facilities currently offered by contemporary condominiums. A tennis and squash court, gymnasium, jogging track, swimming pool and wading pool are some of the essential services that enhance the living environment for its residents. The development also includes plenty of visitor parking reserves. With its strategic location and property prices starting from roughly RM400,000, Antah Tower is a worthy subsale consideration for small and medium-sized urban families.
3. Le Chateau 2, Seputeh
Capital Appreciation: 80.2%
- Median PSF in 2012: RM192
- Median PSF in 2022: RM346
Imagine living in an environment surrounded by an abundance of nature. This peaceful setting is precisely why Le Chateau 2’ is a steal for many urbanites. Le Chateau, which means the castle in French, is a freehold, low-rise apartment located at a hilltop in Seputeh. This ‘hidden’ development only has one block with 17 floors, and its unit built-up size ranges between 970 sq ft and 1,300 sq ft. It also provides several basic amenities, which include wading pool, squash court and 24-hour security systems.
Accessibility from Le Chateau is great, as it is connected to several major roads, namely Jalan Syed Putra, Jalan Istana and Jalan Persekutuan as well highways such as Federal Highway, KL-Seremban Highway, SMART Highway, to name a few. In terms of retail and food therapy, the residents can easily drive to Bangsar Village (I & II) and Nu Sentral in about 15 minutes whereas MidValley is just 5 minutes away.
Despite being close to the Hokkien Kwong Tung Cemetery Park, Le Chateau still fits the bill for many homebuyers who want to live in a tranquil, lush environment that is minutes away from the city centre.
4. Villa OUG Condominium, Taman Yarl, Jalan Klang Lama
Capital Appreciation: 69.3%
- Median PSF in 2012: RM264
- Median PSF in 2022: RM447
Another hidden gem, Villa OUG, is one of the earliest low-rise condominiums built at Old Klang Road. The guarded development has 3 blocks of a 5-storey building with 112 units in a townhouse concept (duplex units). Each floor houses only 8 units with built-up sizes ranging from 1,225 to 1,300 sq ft, each providing 3 bedrooms and 3 bathrooms.
Similar to Jamnah View, the blocks are built around the swimming pool and feature expansive landscaped grounds, giving a nice resort living vibe. The condominium is also well equipped with facilities such as a gymnasium, badminton court, swimming pool, and covered parking. In terms of road networks, Villa OUG is accessible via several highways like NPE, Shah Alam Expressway (KESAS), KL – Putrajaya Highway and Federal Highway,
Although the exterior walls look old, the overall building is structurally sound. Even though it’s outdated, most of the units available online are maintained very well, with great lighting and high ceilings. These serve as a worthy consideration for potential homebuyers who wish to live in the city while enjoying the perks of a low-density development with lush green surroundings.
5. Bukit Winner (Winner Heights), Taman Desa Petaling
Capital Appreciation: 58.3%
- Median PSF in 2012: RM180
- Median PSF in 2022: RM285
Winner Heights is a sure winner amongst homebuyers and investors primarily for two reasons, i.e., its excellent location – nestled in the prime area of Desa Petaling and its superb accessibility to major highways. Being neighbours with well-established townships like Kuchai Lama and Sri Petaling, the development is just 3km away from the Seremban Highway, interlinked with other routes such as KESAS, BESRAYA Expressway, Middle Ring Road 2 (MRR2), and East-West Link Expressway. It’s also just 5 minutes away from Terminal Bersepadu Selatan (TBS) and Bandar Tasik Selatan LRT station, making it a gem for public transportation users.
Beautifully situated on elevated grounds, this leasehold, low-rise development consists of four blocks with 18 storeys per block. It offers 427 units with built-up sizes ranging from 886 sq ft to 1,520 sq ft. Considering the size of the project, it’s surprising that Winner Height has most of the condominium facilities, which include a swimming pool, gymnasium, mini market and tennis court.
Despite being an old condominium with a dated exterior and facilities, nothing beats returning home to a peaceful, clean, well-managed environment with a great view of the lush, green forest.
Properties with highest Capital Growth in Selangor
1. Villaria, Bukit Antarabangsa, Ampang
Capital Appreciation: 112.60%
- Median PSF in 2012: RM127
- Median PSF in 2022: RM270
Charmingly situated on high ground with a scenic view of Ampang’s forest reserve, Villaria is one of the highly sought-after condominiums in Bukit Antarabangsa. Its main appeal is its architecture – the low-rise building boasts resort-style living by incorporating tropical designs.
The leasehold property offers spacious units over five blocks, some of which have lifts. The built-up size ranges from 1,239 sq ft to 1,300 sq ft, and each unit has 3+1 bedrooms and 2 bathrooms. Many of these units are renovated with contemporary interior design allowing a ready-to-move-in condition for potential homebuyers. Villaria also ensures its facilities, such as the swimming pool, playground, squash court and sauna are well kept for the resident’s enjoyment.
In terms of accessibility, Villaria is well connected to several major highways like Duta-Ulu Kelang Expressway (DUKE), Ampang-Kuala Lumpur Elevated Highway (AKLEH) and MRR2. It is also near Bukit Antarabangsa commercial area for other amenities and convenience. Despite its old and dated exterior, many residents are happy living here due to its tranquil surroundings and peaceful setting. The available listing online also shows units which are fully furnished and renovated, an opportunity for tenants who do wish to spend large amounts of money to live in a cosy and peaceful environment.
2. Regency Condominium, Klang
Capital Appreciation: 99.30%
- Median PSF in 2012: RM136
- Median PSF in 2022: RM271
Poised as one of the more affordable high-rise properties in Klang, the Regency Condominium is the first to be built in this district. The freehold development has 8 blocks with 11 floors each. There are three types of layouts – studio unit, standard unit and penthouse unit suitable for all ranges of homebuyers – from young professionals to large families. As a bonus, several units have an exclusive view of the Klang River. Although most of the listings for sale and rent show tired units with outdated furnishings, most of its residents express positive reviews online. Regency Condominium also provides several facilities, including a swimming pool, tennis court, nursery, laundromat, badminton court and mini market.
The project’s strategic location provides residents direct access to Federal Highway and entrance to NKVE, while Klang KTM is just a 10-minute drive. For retail convenience and food outlets, Centro Mall is right opposite Regency Condominium (3 minutes walking distance) while Aeon Bukit Raja is a 6 minutes drive away. Despite being more than 2 decades old, Regency Condominium has positioned itself well by offering value-for-money residential properties that come with well-maintained facilities.
3. Casa Mila Tower, Selayang
Capital Appreciation: 79.60%
- Median PSF in 2012: RM186
- Median PSF in 2022: RM334
Completed in 1991, Casa Mila is another hidden treasure built with a resort-style design. Named after UNESCO World Heritage Site in Spain, this low-density development sits on a hilltop amid the Hutan Lipur Bukit Lagong, providing its residents with the exclusive privilege of enjoying serene views and a fresh, breezy environment.
The development comprises only one block, which has 19 floors. In terms of built-up, unit sizes range from 799 sq ft to 1,181 sq ft. The units may be old but have good bones, with marble floorings – The rental units appear to be renovated while most of the units for sale are quite outdated and tired looking.
Despite the exterior walls looking dated, Casa Mila provides its residents the unparallel advantage of a big compound with beautiful landscaping and peaceful surroundings, there are also facilities like a cafeteria, tennis and squash court, a swimming pool, jogging track, to name a few. With a forest reserve as its backdrop and located not too far away from the city (direct access from Jalan Ipoh), this project provides an opportunity for investors to purchase and refurbish the old units to attract potential homeowners or tenants.
4. Menara Indah, Ampang
Capital Appreciation: 67.10%
- Median PSF in 2012: RM216
- Median PSF in 2022: RM361
Surrounded by the natural beauty of the Ampang forest reserve, Menara Indah still holds a strong appeal among many homebuyers due to its proximity to this pristine location. In addition, this low-rise condominium sits right in from of Kelab Darul Ehsan Golf Course and is part of Taman Tun Abdul Razak enclave (TAR), an established and affluent residential estate in Ampang.
This leasehold development comprises 2 blocks with 7 floors per block and offers 2 layout types, i.e. 2-bedroom units as well 3+1-bedroom penthouses. The penthouse is another highlight of the Menara Indah, as it has a spacious balcony and a private garden. The building’s exterior wall does look worn out, but most units are in good shape. Many online listings show well-maintained units with good furnishing. In addition, the residents also enjoy facilities including a gymnasium, tennis court, mini market and swimming pool, along with a landscaped garden.
Menara Indah has a great connection with a few highways, such as AKLEH, MRR2 and DUKE, via Jalan Kerja Air Lama. In terms of access to other amenities, the Ampang LRT station is roughly a 15-minute drive from the development, and the KPJ Ampang Puteri Specialist Hospital is less than 5km away.
5. Sri Permata , Shah Alam
Capital Appreciation: 61.30%
- Median PSF in 2012: RM204
- Median PSF in 2022: RM329
Sri Permata Condominium is a medium-cost apartment in an established, mature neighbourhood of Seksyen 9, Shah Alam. Although over a decade old, this leasehold development is an attractive option for homebuyers as it has a spectacular view of Sultan Abdul Aziz Shah Golf and Country Club, exclusive to its residents.
Its strategic location provides easy access to major highways such as the Federal Highway, KESAS Highway and the New Klang Valley Expressway (NKVE). Sultan Abdul Aziz Shah Airport (Subang Airport) is less than a 20-minute drive for those who frequently travel for work or leisure. There are also several signature landmarks building like Malawati Stadium and Sultan Salahuddin Abdul Aziz Mosque, which are within a 5km radius of the development.
This low-rise development has 4 blocks, housing 9 floors each. The units come with 3 types of layouts (2 bedroom or 3 bedroom) while the built-up sizes range from 950 sq ft to 1,200 sq ft. However, the building itself looks rather old and the residents cannot expect much in terms of condominium facilities as it’s outdated as well. Half the units listed online are old a rundown whereas the other half have had some type of renovation and refurbishment done. Similar to Casa Mila, bears promise and provides investors or owners an opportune time to renovate their units to further entice potential tenants as it’s a peaceful area to live in.
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Properties with highest Capital Growth in Penang
1. Arena Residence @ The Arena , Bayan Baru
Capital Appreciation: 61.80%
- Median PSF in 2012: RM327
- Median PSF in 2022: RM529
One of the newer properties on this list, Arena Residence is the residential component of a mixed development, i.e. The Arena. The immediate appeal of this high-rise building is its architectural design, inspired by the ancient Roman amphitheatre with an emphasis on practicality for its occupants. It is also situated at a prime location easily accessed via Jalan Sultan Azlan Shah, Jalan Kampung Jawa and Tun Dr Lim Chong Eu Highway.
This freehold project offers one block with 19 floors. There are only 6 units per floor, with built-up sizes ranging from 1,250 sq ft and 1,450 sq ft. The units have 4 types of layouts and come with four bedrooms and two bathrooms. Arena Residence also provides several recreational facilities like a gymnasium, swimming pool and barbeque pit.
In terms of conveniences, the residents are spoiled for choice with the numerous eateries and lifestyle outlets situated right below the residential units. Arena Residence is located in a bustling area with a 4-star hotel, the Olive Tree as its neighbour. The Penang International Sports Arena (PISA) and Subterranean Penang International Conference and Exhibition (SPICE) are also within walking distance, making Arena Residence a strategic location for investors who wish to attract tenants looking for short-term accommodations.
2. Desa Golf, Bukit Jambul
Capital Appreciation: 50.1%
- Median PSF in 2012: RM349
- Median PSF in 2022: RM524
Desa Golf condominium is a 3-acre freehold development within a mature residential neighbourhood. This project has appreciated significantly well due to the exclusivity that it offers its resident, with only 148 units. All these units are in a single block over 20 floors with built-up sizes ranging between 850 sq ft to 1,000 sq ft (3 bedrooms, two bathrooms). Despite being completed in 1999, the development is in pretty good shape. Most of the online listings showcase well-maintained abodes.
Another noteworthy attraction is Desa Golf’s location right next to Penang Golf Course where the back-facing units enjoy a clear unbroken view of its green expanse. This property also has an array of well-kept facilities such as a community hall, reading room, sauna, swimming pool, badminton and tennis court. In terms of accessibility, the residents can quickly reach the city via the coastal expressway while the Penang International Airport can be reached in less than 15 minutes.
3. Seaview Garden, Mount Pleasure, Batu Ferringhi
Capital Appreciation: 49.4%
- Median PSF in 2012: RM255
- Median PSF in 2022: RM381
Seaview Garden Condominium is one of the rare residential projects that gives its residents exclusive access to unlimited natural beauty. This freehold development is charmingly nestled among the green hills of Mount Pleasure and offers a splendid view all around as it also fronts the coastline of Penang’s beach.
Completed in 1995, this low-rise property has one tower of 5 storeys with 2-bedroom units and another block of 21 storeys with 3-bedroom units. There are only 160 units with built-up sizes ranging between 1,060 sq ft to 1,400 sq ft. Penthouses are also available in this project with a built-up size of approximately 1,800 sq ft with 4 bedrooms and 3 bathrooms. Although several units are quite old, it is worth noting that most Seaview Garden units are well-maintained and bear ready-to-move-in conditions with residents posting positive reviews online. Other facilities, such as a swimming pool, gymnasium, squash court, community hall, and car wash bay, are also well kept along with a landscaped garden.
Residents can easily travel to any part of Penang Island via Jalan Batu Ferringhi and Jalan Tanjung Bungah, with plenty of buses and taxis available in the development. Located along the famous Batu Feringghi street, many recreational attractions, including Penang Water Sports Recreation Centre and Shamrock Beach, are less than a 5-minute drive away.
Seaview Garden can be considered a gold mine for home buyers and investors as it truly lives up to its name, being surrounded by lush greenery and providing a calm view of the sea.
4. SkyHome, Tanjong Tokong
Capital Appreciation: 49.4%
- Median PSF in 2012: RM397
- Median PSF in 2022: RM593
Skyhome is one of the most desired luxury homes on Penang Island. Its main appeal is an unobstructed view of the sea. This development was completed in 2013 and is built strategically on 1.57 acres of freehold land close to the shores of Tanjung Bungah Beach.
As an exclusive beachfront property, there are only 47 units (including 5 penthouses) within a single building of 32 storeys, offering 2 units per floor. Each unit has a ceiling height of 12 feet and is spaciously designed with a built-up size of 6,300 sq ft, while the penthouse has a larger built-up size of 12,300 sq ft. There are five bedrooms and four bathrooms in each elegantly oriented home, with teak wood flooring and a jacuzzi in the master room. In addition, all units are provided with 3 covered car parks.
Skyhome also provides top-class condominium facilities, including a cascading infinity pool with a 100 ft overflow directly fronting the sea and it comes with speed boat and jet ski storage space. The lobby is also carefully designed to give its residents direct access to the beach. Situated at the northern end of Penang Island, it takes less than 15 minutes for the occupants to reach the city centre, i.e. Gurvey drive via several major roads like Jalan Batu Ferringghi, Jalan Tanjung Tokong, Jalan Lembah Permai and Jalan Gajah.
A haven for many beach and sea lovers, Skyhome has planted its flag as a dream come true for many upscale homeowners and investors.
5. Central Park, Green Lane, Bukit Lanchang
Capital Appreciation: 48.6%
- Median PSF in 2012: RM331
- Median PSF in 2022: RM492
Situated in an established neighbourhood of Bukit Lanchang, a suburb of Georgetown, Central Park is another condominium on the higher end of the mid-range price category. Based on online reviews, many homeowners favour this project due to the many surrounding amenities and its excellent central location between Georgetown and Penang Bridge.
This 12-year old project was built over 10.9 acres of freehold land and consists of 5 blocks with 36 floors housing 326 units. There are 2 layout types, i.e. standard and duplex. Both layouts were built with spacious designs by incorporating full-height glass windows. The standard unit has a built-up size of 2,600 sq ft (4+1 bedrooms and 4 bathrooms), while the duplex has a built-up size of 5,110 sq ft (5+1 bedrooms and 5 bathrooms). Each unit comes with 2 car park bays. Relatively a new development completed in 2011, Central Park seems popular with families and has received great online reviews from its residents.
Another highlight of this development is its 4 acres of park that provides a full range of wet and dry condominium facilities, including an indoor badminton court, basketball court, table tennis, indoor and outdoor gymnasiums and swimming pools. Residents also have easy access to nearby amenities, such as Lam Wah Ee Hospital and Batu Lanchang Market, which is just walking distance from the condominium.
Properties with highest Capital Growth in Johor
1. Octville Condominium, Masai
Capital Appreciation: 335.7%
- Median PSF in 2012: RM56
- Median PSF in 2022: RM244
Located in a well-established township enclave of Bandar Seri Alam, Octville Condominium is a low-density project built on 9 acres of freehold land. The development only has 75 units and was built with a resort setting concept incorporating a garden landscape. It has all the condominium facilities except a swimming pool. Octville was initially part of the Octville Golf Course, which was completed in 1993 by Japanese developer, Hazama Ando Corp. The golf course has now closed down and Octville units are now partly owned by individual owners, where the rest was bought over by a corporation.
Most units are individual buildings of 2-storey walk-ups with a townhouse design. The average built-up size is about 1,582 sq ft and comes with 2 car parks. Many units listed for sale have been recently renovated and fully furnished with some offerings of wet and dry kitchen cabinets with hoods as well as a jacuzzi – a definite appeal to potential occupants who want to live in a peaceful, gated and guarded environment.
In terms of other amenities, the residents can get to the city via Persiaran Seri Alam and Johor Bharu – East Coast Highway. Lotus Seri Alam and Mydin Mall Taman Rinting are less than 10 minutes away for retail convenience.
There is also an opportunity to attract student-based tenants as there are several higher education institutions such as UiTM Pasir Gudang, MARA Junior Science College and Universiti Kuala Lumpur – Malaysian Institute of Industrial Technology (UniKL MITEC) which is about 10 minutes away from Octville Condominium.
2. Jentayu Residensi, Tampoi, Johor Bahru
Capital Appreciation: 39.8.%
- Median PSF in 2012: RM274
- Median PSF in 2022: RM383
Jentayu Residensi is a two-block, 23-storey condominium located just off the Pasir Gudang Highway and within the vicinity of 2 established neighbourhoods, Bandar Uda Baru and Larkin. This freehold development was completed approximately in 2013 and offers 512 units with sizes ranging between 528 sq ft and 1,056 sq ft.
The development is located right next to the failed Capital City Mall project. However, the mall was recently bought by Singaporean retailer Mustafa, which bodes well for its revival. Each unit has 3 bedrooms and 2 bathrooms, with 2 covered car parks. All facilities are available at Jentayu Residensi, including a game room, multipurpose hall, swimming pool, gymnasium and jogging track.
Since the project is fronting Jalan Tampoi, residents are conveniently surrounded by ample amenities (banks, restaurants) and public facilities (post office, police station). Angsana Johor Bahru Mall and Danga Bay are less than 15 minutes drive from the property. Apart from Pasir Gudang Highway, Jentayu Residence can be accessed via the Second Malaysia-Singapore link and Jalan Skudai too.
A relatively new development, Jentayu Residence units are well maintained—many of the available offers full-furnished units allowing potential homebuyers to an easy move-in condition without spending large sums on furniture and fittings. Although there are few dissatisfied reviews on the condo’s property management, the project proves to cater well the middle-income households due to its location.
3. Pelita Indah Condominium, Johor Bahru
Capital Appreciation: 39.6.%
- Median PSF in 2012: RM144
- Median PSF in 2022: RM201
Pelita Indah Condominium is an older high-rise project built on approximately 4.6 acres of freehold land. Its central location is one key attraction to homebuyers and investors as it is in the heart of Johor Bahru city. The Customs, Immigration and Quarantine Complex (CIQ) is less than a 10-minute drive away, making it a favourite for those who commute to Singapore for work, daily. In addition, the upcoming Johor Bahru–Singapore Rapid Transit System (RTS), also known as Bukit Chagar, is situated about 3.2km from the development.
Surrounded by greenery, this freehold property offers rather spacious units with built-up sizes ranging from 1,000 sq ft to 2,000 sq ft (3 bedders and 4 bedders). Although a bit small, the balcony gives its residents a nice view of the coastline. Pelita Indah is a relatively older building, where its available units, as well as facilities, are a bit dated, albeit well-maintained. Residents are privy to a swimming pool, gymnasium, tennis court and jogging track.
In terms of connectivity, Pelita Indah residents can travel to Johor Bahru via Tebrau and Malaysia-Singapore Causeway. For those who utilise public transportation, the Johor Bahru Sentral railway station (KTM) is roughly 6 mins away.
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4. Akademik Suite , Tebrau
Capital Appreciation: 32.7.%
- Median PSF in 2012: RM254
- Median PSF in 2022: RM337
Akademik Suite is a serviced residence built on commercial land and located in Taman Mount Austin, a prime residential area in Johor Bahru City. This freehold project has positioned itself well as an Airbnb option due to its proximity to Austin Heights Water and Adventure Park and Austin International Convention Centre, which are within 10 minutes walking distance. It is also relatively close to other famous spots like Ikea Tebrau (10 minutes drive) and Austin Golf and Hotel Resort (7 minutes drive).
Most of the units in this project have 3 bedrooms and 2 bathrooms. Facilities including a gymnasium, sauna and swimming pool are available on this premises. Its occupants have plenty of retail and food choices available within the vicinity of Taman Mount Austin as well as in the neighbouring area, i.e. Taman Daya and Taman Desa Tebrau. In terms of connectivity, Akademik Tebrau is reachable via the Pasir Gudang Highway.
5. Datin Halimah Condominium, Tampoi
Capital Appreciation: 25.5.%
- Median PSF in 2012: RM220
- Median PSF in 2022: RM276.
Like Pelita Indah, Datin Halimah is a freehold condominium with a central location in Johor Bahru. Surrounded by lush greenery, this leasehold development houses 216 units over a single tower with 19 floors. The units have several types of layouts, i.e. 1,250 sq ft and 1,409 sq ft (3 bedrooms and 2 bathrooms), 1,800 sq ft (3 bedrooms and 3 bathrooms) and 5-bedroom penthouses measuring 3,600 sq ft. This low-density project also offers all the necessary facilities, including a gymnasium, Jogging track, swimming pool and sauna.
According to online reviews, many residents are pleased with how the building and facilities are well managed and maintained, although the project was built almost 2 decades ago. Some occupants have expressed that the maintenance fee is slightly higher, but it’s worth every penny. Furthermore, there are upcoming plans by the management committee to repaint and rejuvenate the building’s premises.
It is also well-connected to major roads and highways. Situated along Jalan Datin Halimah, it can be accessed through Jalan Tun Razak and Jalan Skudai, while the Malaysia-Singapore Causeway link is about 10 minutes away.
As Datin Halimah is strategically situated in the heart of Johor Bahru City, it makes other amenities reachable for its residents. For recreational activities, Hutan Bandar MBJB and Johor Golf & Country Club are less than a 10-minute drive. It’s also nearby to Larkin Sentral (approximately 2km away) for those regular travellers.
Conclusion
It can be clearly demonstrated that the worth of a property in the long haul does not depend on its modern architecture of shiny, extensive facilities but rather on how the property is maintained and managed over the years. Quality management of a strata building lies in the hands of the people elected to represent strata owners, thus homeowners should play an active role in attending general meetings and in appointing their Management Committee members.
FOOTNOTES
1) Capital growth is calculated as = Median PSF in 2022 – Median PSF in 2012 / Median PSF in 2012. Median Per Square Foot (PSF) is used to calculate capital growth due to various built-up sizes being transacted.
2) The data system from JPPH officially records a property transaction in Malaysia once the stamp duty for the Sales and Purchase Agreement is paid. Analytics is based on the data available at the date of publication and may be subject to revision as and when more data becomes available.
This article was co-authored with Praveena Nathesan.