Investment bucks in luxury properties here have been slow in coming especially since the implementation of the property cooling measures. But what about overseas property investments? Are there worthy fodder out there for the willing investor?
Not too far away, in Kuala Lumpur, Malaysia, GuocoLand Malaysia has launched a whole new mixed-use development in Damansara City, just 5km way from the city centre. It will feature 2 residential towers, 2 office tower, a five-star hotel and a mall. The residential property is named DC Residency and will have 370 units in total.
Prices of these one- to three-bedders are starting at RM1,600 psf and will be occupancy-ready by the end of 2015. For the coming weekend’s pre-launch sale, they are offering up 60 units in one of their tower blocks with special incentives. Before their launch, the developers have already sold half of the units in Tower 1, with Singaporeans making up 30 per cent of the buyers.
The project seems promising, with its proximity to the the city centre, and being the only high-rise development built in the Damansara Heights area over the past 3 years. It also helps that the new Sungai Buloh-Jalan Semantan MRT line will be nearby.
And with news about the Singapore-Kuala Lumpur high-speed rail being able to transport passengers between the 2 cities in 90 minutes, Singaporean investors may see even more promise in the new property.