Terrace houses, town houses, condominiums, semi-detached, bungalows. What else do you want and what more can you get? Besides a variety of choices, quiet and pristine hills, verdant green and high connectivity are all in the package!

 

The lure of Ampang seems irresistible. Gently tucked away in the pockets of green, this district is so close to nature, yet, still not out of reach from the city center.

 

Carved into two, Ampang consists of the Federal Territory side which is more commonly known for housing the embassy row, and the Selangor side which is divided into many smaller townships such as Ampang Jaya, Taman Dagang, Pandan lndah and many more, says Lee Wei Yen, Real Estate Negotiator of Reapfield Properties Kuala Lumpur.

 

But as to where the real estate hotspots are in this part of Klang Valley, Wei Yen points to Ukay Heights and Taman TAR as the darling choices.

 

"Some say it is for the elites when it first started off, but now you will also find a whole range of mix development here from apartments, link houses to bungalows," she says, attributing the housing preference to the old adage in real estate: location, location, location.

 

"Plus, it's a lifestyle choice - the way the houses are built around the greenery, easy for walks, access to golf course (in Taman TAR), the cooler and fresher air, and the peace and tranquility; it's the perfect place to call home."

 

A combination of location and way of life, these two areas are known for having good value in properties and it is not merely another baseless claim. With infrastructures such as the Ampang Kuala Lumpur Elevated Highway going to the city center (only takes 10 mins) and the just completed Duta-Ulu Kelang Expressway (it is a much shorter distance) going to Damansara and Mont' Kiara to boast of, Ampang will be "central and will increase in value", she attests.

 

Apart from the convenient access, she adds that basic amenities are also within its reach as it is surrounded by schools, shopping complexes and hospitals. And, the best part is, "it is just a fraction of the price for a similar property at Kenny Hills. Where land here was last transacted for about RM200 per sq ft in 2008, they are asking for double the price at Kenny Hills. Even in the land appreciation here, we saw a 30% increase from 2007."

 

As for the property type, landed properties are prime investment choice as they command better capital appreciation according to Wei Yen.

 

"Landed properties also fetch good rental yield, especially the ones refurbished and later rented out to expatriates. We are looking at 6 to 7% in rental yield."

 

"What is important to know is that the refurbishment has to meet expatriate requirements in order to fetch good rental yield."

 

"Some of the properties have been refurbished with exquisite decor. You can find spacious Balinese havens, five storey home equipped with its own bowling alley, newly renovated condominiums with stunning views of the city."

 

As she recalls from one of the recent transactions in Ukay Heights, "a recently refurbished exclusive condominiums - Puncak Ukay where some of the owners even preached of getting returns of more than 8%."

 

Being mindful of the current economic situation, Wei Yen opines that 2009 poses a challenge, as the demand in this area especially on the rental, will also depend on the number of expatriates coming in this year, and whether the continuing ones will retain the same housing budget. But when the market starts to turn around, the trend shows that they will return.

 

However, Ampang still has lots to offer. You can still find available plots of land in Ukay Heights for new self build homes or create a new home by extending the existing property on sale, she chimes.

 

On top of that, new developments are spicing up the area such as the Mutiara Upper East located behind the Selangor Polo Club in Ampang Hilir, and the new housing project, Kemensah Mewah in Kemensah, she adds.

 

With the spring of new developments, will the older properties in Ukay Heights and Taman TAR continue to shine in terms of returns?

 

According to her, a 5 bedroom, 8,000 sq ft bungalow in the new Kemensah Heights can fetch a return of about 6% in today's market; an 8,000 sq h, 20-year-old bungalow in mature Taman TAR can expect the same too.

 

With charm of nature at your backyard and highway to the city at your doorstep, the lifestyle and quality living that Ukay Heights and Taman TAR have to offer could only position you for the better. Furthermore, "who could resist living at the border of the rainforest and yet be so close to Kuala Lumpur?"







Published in the New Year Edition (Jan-Feb) 2009