Mont’Kiara is a popular place for people who want to live in a high-end enclave with a mix of commercial and lifestyle developments. The township is only 10 to 20 minutes by car from the city centre of Kuala Lumpur, Bandar Utama, Mutiara Damansara, Bangsar, and Mid Valley City. This makes it a great place to live. It is also near well-known and wealthy neighbourhoods like Seri Hartamas and Kenny Hills.
Sarkunan Subramaniam, the managing director of Knight Frank Malaysia, says that Mont’Kiara is home to a large number of expatriates from more than 30 countries, is known for its high-rise living, and continues to grow quickly. There aren’t many homes on land in the area.
“Mont’Kiara is a market niche for lifestyle residences that expatriates want. Foo Gee Jen, the managing director of CBRE|WTW, says that the area is a good place to live because it has a lot of foreign cuisine restaurants, premium/foreign brand grocery stores, international schools, and other things like that.
Sulaiman Saheh, who is in charge of research and strategic planning at Rahim & Co, agrees. “Most of the people who live in Mont’Kiara are from other countries. This has made more people want to move to KL, which helps keep the neighborhood’s population and way of life stable.
In Mont’ Kiara, there are two international schools: the American Mont’Kiara International School and the British Garden International School. Sulaiman says that the French Lycée Franais Kuala Lumpur International School is only 3 km from Jalan Dutamas Raya.
Foo says that there are a lot of large high-rise homes and low-density developments to choose from, and that the rental opportunities continue to attract a small, high-end niche market.
“Even though there are problems on the property market and more new homes are coming on the market, the average price of a home in Mont’Kiara stays the same,” says Sarkunan.
Data from Knight Frank Malaysia reveals the average price for selected schemes such as Kiaraville, 10 Mont’Kiara, Sunway Vivaldi, Verse Suites, Tiffani Mont’Kiara, Sunway Palazzio and Verdana had grown, albeit by a marginal 0.3% and a compound annual growth rate of 0.1 %, from 2013 to 2018 (RM775 to RM777) (RM775 to RM777).
“Mont’Kiara is a popular rental area for people who live outside of their home country. “The gross yield on high-rise properties in the area is between 4.6% and 5.4%,” says Sarkunan.
EdgeProp.my says that a 936-square-foot apartment in Verve Suites by Bukit Kiara Properties Sdn Bhd sold for RM1 million, or RM1,068 per square foot, in March, and a 1,292-square-foot condo in Mont’Kiara Pines sold for RM770,000, or RM596 per square foot, in December.
In October of last year, a detached house in Villa Mont’Kiara built by UOA Group sold for RM4.7 million, or RM1,623 psf. In November of the same year, a terraced house in Villa Aseana built by Ireka Land sold for RM2.85 million, or RM995 psf.
Listings show that high-rise homes with built-ups of 900 to 4,000 sq ft are asking between RM1,500 and RM18,000 per month, while landed homes with similar built-ups are asking between RM4,000 and RM18,000 per month.
The average price per square foot of non-landed property in the area is RM627, while the average price per square foot in the state is RM396. RM4,345 is the median price per square foot for landed property (state: RM2,525).
Sunway Mont Residences by Sunway Bhd will be done in 2020. Trinity Pentamont by Trinity Group will be done in 2022. Residensi Astrea by UEM Sunrise Bhd will be done in 2023. MET 1 Residence @ KL Metropolis by Naza TTDI Sdn Bhd and Inspirasi Mont’Kiara by MKH Bhd will both be done in 2021.
But as more buildings are built in Mont’Kiara, traffic is getting worse. Sulaiman thinks that more work will be done in the next 5 to 10 years to improve the roads and make the area more accessible. This will have a big effect on the area’s chances of becoming a high-end community.
“We think it will stay a well-known, high-end neighbourhood with a mix of international and local residents. “There will be more homes to choose from with the new developments,” says Sulaiman.
Foo wants to see more office buildings built, as well as more places to shop and have fun.
He says, “The rental prospects shall remain an exclusive, high-end niche market.”
Something for everybody
One of the best things about Mont’Kiara is how much food there is to choose from. Go to Kodawari Menya Udon & Tempura in 1 Mont Kiara if you want a steaming bowl of udon. The restaurant’s noodles and dashi soup base come from Kawaga, a Japanese city in the province of Sanuki that is known for its udon.
Here is something for the vegetarians — Real Food Mont Kiara, also in 1 Mont Kiara, and LN Fortunate Coffee in Solaris Mont’Kiara. Their food is full of flavour and good things for you.
There are many ways to get a taste of Korea. At Solaris Mont’Kiara, go to Sae Ma Eul BBQ and Gangnam 88 for everything from BBQ meat to seafood pajeon (Korean pancake).
If steak is your thing, try Beato Dry Aged Beef in Solaris Dutamas and the hidden Casa Rosa in the Aspen Clubhouse of Mont’Kiara Pines. Both places serve juicy, tender cuts of meat like ribeye and Waygu cooked to your liking.
Go to Crust in 163 Retail Park if you want pizza or burgers. The wood-fired dough is light and crispy, and you can put different things on top of it. Try the Carne pizza, which has all the beef you can eat, or the Figaro pizza, which has a lot of mozzarella and goat cheese on it, among other things. There are options for people who don’t eat meat, so don’t worry. For families with kids, there is a play area where the kids can play while the adults eat.
Sarawak D’light Signature, which just opened, is another place you shouldn’t miss. Sarawak Laksa and Kolo Mee are the best things to eat here.
The Majapahit at Arcoris Mont’Kiara in Jalan Kiara is the place to go for something that is very Southeast Asian. Modern Southeast Asian dishes like Balinese fish satay, Thai red beef curry, Indonesian squid curry, coconut butter chicken, and the restaurant’s signature dish, crispy flying fish, are served at the restaurant. And as a bonus for Instagrammers, both the restaurant and Arcoris can be posted on Instagram.
Take a bike ride around Solaris Dutamas on Wheelie Sunday if you want to do something fun with your family. Every Sunday from 7 a.m. to 10 a.m., the inner roads are closed so that people can ride bikes. You don’t have a bike? No worries, there are places to rent. Publika is full of people and things to do. There are art shows, music festivals, a food fiesta, and a traders market.
If you want to see a market, go to Plaza Mont’Kiara on Thursdays for Fiesta Night. It’s open from 3pm to 10pm and sells everything from food to homemade soap.
If you want to play golf, you can go to TPC KL, which has two 18-hole championship golf courses, or you can go to the National Science Centre in Persiaran Bukit Kiara to learn something new.
A source from The Edge Market