Menara Bangsar, Bangsar

Menara Bangsar is an old high rise condominium nestled in Bangsar vicinity. It is situated within minutes of walking distance from Bangsar Shopping Centre, which houses numerous cafes, restaurants and bars, as well as The Actors Studio that serves plenty of plays throughout the year. The condo is located nearby Sri Penaga, One Menerung and Taman SA, along Jalan Maarof.

One can also have a short drive to other prime shopping centres including Bangsar Village, Mid Valley Megamall, Tropicana City Mall and 1-Utama Shopping Centre. For nightlife, there are plenty of pubs and clubs residing in Telawi enclave, such as Finnegan’s, Flames, Ronnie Q, and The Social. As for golf enthusiast, KGPA and KLGC are located nearby along SPRINT highway.

There are a number of prime neighborhoods surrounding Bangsar, including Damansara Heights, Bukit Tunku, Petaling Jaya, Bukit Damansara, Brickfields and even the city centre of Kuala Lumpur is just within minutes from Bangsar. One can utilize several route options to reach these places such as SPRINT highway to access Mont Kiara and Sri Hartamas, New Pantai Expressway (NPE) to reach Sunway and Subang, and Federal Highway that connects to Klang and Shah Alam. In addition, Bangsar Putra LRT and KL Sentral is only few kilometres away from Menara Bangsar.

Property Details

• Name: Menara Bangsar
• Address: No 299, Jalan Maarof, 59000 Bangsar, Kuala Lumpur
• Developer: BRDB
• Completion Date: 1985
• Type: Condominium
• Tenure: Freehold
• Built-up: 1,650 and 1,750 sf
• No. of Blocks: 2
• No. of Storey: 24
• Subsale Price: RM680,000 – RM750,000
• Rental: RM2.00 psf

Facilities

• Barbecue area
• Sauna
• Covered car park
• Gymnasium
• Tennis court
• Jogging track
• Swimming pool
• Mini market
• 24-hour security

Analysis

Menara Bangsar resides next to Jalan Maarof, a very busy road all around the clock. The road caters thousands of motorists who commute to work in the commercial centers and office towers around Bangsar, residents in the neighborhood, and others who come to Bangsar for leisure. You can find the road really congested during peak hours. Besides that, if you come from Jalan Semantan, you will find the access road to Bangsar is badly congested during these hours.

There is a study made in 2002, comparing old condominiums and landed terrace houses in Bangsar, that shows some interesting facts:

• The study shows that back in 1986, a double-storey terrace-house in the Bukit Bandaraya or Bangsar Baru area of Kuala Lumpur could be bought for an average of RM190,000, and its price escalated to around RM550,000 to RM600,000 in 2002, an increase of 150% or a compound interest of 7.5%.

• As for a good condominium within the same area (including Menara Bangsar), it would cost RM340,000 back then in 1986 and would have fetch around RM600,000 now, an increase of 150% or a compound interest of 2.75% per annum within the same period.

• In terms of rental gain, the same terrace house would have rented for RM850, while the same condominium rental would have fetched RM2,000 per month back then in 1986.

• In today’s market, the condominium would fetch a selling price of RM650,000, and RM3,400 in rental. Meanwhile, the same double-storey terrace house has breached the RM1 million price tag, but rental is only around RM3,000.

Most people think that older Bangsar condominiums deliver the worst rental yield comparing to Mont Kiara and KLCC condominiums. For instance, for a RM600,000 condominium, one should only expect around RM3,000 for its rental gain.

Tenants and buyers would prefer the upper hill area like Bangsar Peak, Bangsar Puteri, Sri Penaga and Tivoli Villas than the downhill area. Besides having better views, these condominiums also offer homely feel as being within the residential enclave, unlike Menara Bangsar which located next to a busy road and meters away from Bangsar Shopping Centre.

Investment wise, Menara Bangsar’s price is stagnant and its rental does not seem to escalate much further. But due to the current economic slump, perhaps you should grab a unit if the price drops to RM250 psf. Only if this is possible.