4. It's a testing time for condos around KLCC

WITH the weakening property market, the next six months will be an interesting period for luxury condominium developments in the Kuala Lumpur City Centre (KLCC) area as investors, speculators, developers and property agents assess whether the market can sustain current prices and maintain projected yields. According to SK Brothers Realty Sdn Bhd general manager Chan Ai Cheng, buyers of KLCC condos belong to a very specific segment of the property market. They would only be marginally affected by economic conditions. They would have the necessary “buffer” against any market uncertainties and sail through. Cheapest in the region Condo prices within the KLCC area are still the cheapest in the region, and with construction costs having gone up 30%-40%, prices are very unlikely to fall. Some units are going to be owner-occupied,... [read full story]