Studio apartments invoke mixed emotions in the context of the Malaysia market. There are those who find it preposterous to live in a small unit that makes no distinction of the bedroom and living area. And there are those that find it is the perfect solution to current lifestyle trends. Essentially, you love it or hate it.

Smart investors that have been able to separate their negative feelings from the business case for studio apartments are making money in this niche.

There’s a whole lot of opinion on investing in studio apartments but unfortunately many of these opinions are based on nothing more than sentiment. Sometimes, there’s no sense in sentiment. So let’s separate the wheat from the chaff and see if there is a strong business case for investing in a studio apartment.

Fact #1: Demographic Changes

Firstly, as in any business case, there has to be a demand for your goods and services before you can turn a profit. If you’re savvy, you’ll also look at trends. Data from the Department of Statistics (Malaysia) indicate that Malaysia is slowly becoming an aging population. This means, the number of young people are decreasing. The median age in 2000 was 23.6. In 2010, this had increased to 27.6.

There are approximately 3,284,551 people between the ages of 20 – 29 who are unmarried. This is a large significant segment and it demands housing that is small, easy to maintain and reasonably priced.

Fact #2: Lifestyle Changes

As the cost of living continues to rise, we’re seeing more career focused individuals working long hours to escape the gravity of inflation. The typical urban professional is out of home most of the time either working, stuck in traffic, or socializing.

Work and social commitments demand that she eat out most of the time. She has little time to cook or clean. Her home is one of many transit points. She needs a place that is secure, small and practical.

The individual does not socialize like a family would. In a typical family setting, it is very common to invite friends over for lunch or dinner. Most husbands and wives enjoy playing host to visitors, the kids love to have friends over. The home for the typical family is an assortment of things central to their lives.

The young urban professional on the other hand does most of her socializing outside of her home. She explores new restaurants with friends and prefers to invite them to her favorite joint for teh-tarik (tea). She does not have the time to play host to visitors and prefers to savor the quiet time at home. Add to this that marriage is not something she’s considering in the next few years, and the studio apartment becomes the perfect solution to her living needs.

Fact #3:  Household Income

The average household income in Malaysia (2007) is RM 4,300. Escalating property prices in Malaysia make it very difficult for the average young professional to buy property. Landed property prices in urban areas are very much out of league for them. In a an October 2011 interview with BFM 89.9, Goh Seng Toh, Vice-President of the National House Buyers Association, stated that there is a gross mismatch between property prices and income in Malaysia.

Affordability of a home is considered in relation to household income. Generally one can safely afford a home that is up to 4 times the annual income. If a young professional earns RM 4,300 a month, her annual income is RM 51,600 and she could theoretically afford a home under RM 210,000. According to a Star Property report, 2011 housing prices in the Klang Valley have gone up as much as 11 times the average annual household income. It reports that some areas have sky rocketed to 20 times. This report is based on an average household income of RM 6,000 per month.

All trends seem to indicate that affordability of homes in urban Malaysia, especially in the Klang Valley, Johor Bahru, and Penang island areas, is a problem. Many young professionals will look at renting (instead of buying) good quality homes that meet their lifestyle demand and affordability. This presents an opportunity for investors.

If you need further convincing, there are approximately 4.1 million people in urban Malaysia between the ages of 20-29.

Based on the facts above, it would seem that the case for studio apartments is strong.

Investing in studio apartments and renting it to young professionals is a viable business model. However, investors should be realistic in their expectations and aim to provide feasible solutions to this situation. They should understand their market, and make their investments attractive to the market.

For example, many young professionals would prefer fully furnished units but this does not mean that they would be attracted to any fully furnished unit. They prefer tastefully decorated units. At the end of the day, investors stand to gain in terms of higher occupancy and rental rates when they invest in good deco.

Investors should also be sensitive to affordability and plan their financing appropriately. To illustrate, if your target market has an average household income of RM 5,000, it would be unwise to rent at prices beyond RM 2,500. You may have to increase your capital outlay when purchasing a unit for this market such that you monthly financing installments plus the monthly aggregate of your renovation costs do not exceed RM 2,500.

One pertinent question often asked by property investors is “how can I maximize my return on my investment property?” Does mere furnishing an apartment justify a higher rental, or is there more to it? How it is that the owner of an identically sized property is able to command a higher rental than another? Well the owner receiving the higher rental is able to do so because he has invested in Interior Design (ID) work. Research and studies in the property market indicates that a property with ID, can fetch a higher rental or sale price compared to one without. To understand what ID really means to investors and home owners and how it impacts a property, I set out to look for an expert in the subject of Interior Design.

After much scrutinizing, I found the perfect man for the job. You may already know him as he has been featured many times in the media which includes The Edge, Cleo, Her World and other leading magazines. For those that don’t, meet the interior guru; Kennedy Raj, a man with a passion for ID. Kennedy runs a multi-disciplinary consultancy that encompasses Architecture, Interior Design, Interior Fit-Out Works, Landscaping and Lighting Consultancy and consults on projects throughout Malaysia and Indonesia. During his leisure time, he is an avid photographer whose interest in nature and landscape has allowed him to build an international portfolio of images with elements of architecture in nature. Kennedy was kind enough to take time from his busy schedule to do an interview with me and to share with DamansaraPerdana.com.my readers insights and wisdom on doing ID right.

DP: What does interior design really mean and how is it different from mere furnishing of a property?

Interior Design takes into consideration totality.

Essentially it’s selecting and combining various DNA of space creation, which includes all types of building materials, finishes, lightning, space planning, mechanical and electrical, which is then merged and balanced to create functionality that meets the clients needs, and ultimately conforms to his or her preferred ambiance and lifestyle through shape, textures and visual stimulation.

For comparison sake, have you noticed that some magazine layouts of interiors just doesn’t move or speak to you?

It can be decorated with lavish furnishings like vases, chandeliers, expensive wallpaper, but the entire look does not come together or even evoke a sense of ‘desire’ for the reader to live there?

DP: What are the factors that one must consider before beginning ID on their homes or investment properties?

I believe there are 3 essential components (i.e. The Holy Grail): timeline, concept and budget. If you don’t get this right, starting an ID project is going to be a painful experience.

Timeline:
With any type of project, a client needs to provide the Interior Designer with a sufficient and realistic time frame. Majority of the important work is done during the preliminary design stage; this includes space planning, coordination of materials and colors, electrical power points, air conditioner positioning, lighting points, light fixtures, wet works, plumbing,window treatments, and the list goes on.Most often, there are going to be debates and a lot of discussions with the client on their wants versus their needs, especially taking into consideration their budget.

This preliminary design stage is vital. And I use the word vital strongly. It’s so important to spend the time planning and getting it right, so that when it comes to implementation at site, we minimize problems that could delay the completion of the project and worst still, delays that may cost the client more money unnecessarily (e.g cost over runs).

Hence, once all of the above has been confirmed and signed off by the client, the next stage is naturally the implementation. This is normally faster than the planning stage, depending again on the detail of work at site, delivery of materials from suppliers, public holidays, etc.

Concept:
Making the decision on a concept is pertinent. I normally give my clients some kind of homework. I ask them to search the Internet, magazines and home design journals and keep a scrap book of looks that may catch their eye. It saves both the client and I some time as I can visually understand the concept and lifestyle ambiance they are trying to achieve. It’s then my job to collate all this visual information and create their individualistic desired concept based on their budget and timeline.

Budget:
Like everything else in life, a budget is essential. There are carpets that can cost as little as RM2psf and those that can go as high as RM350psf. The same for tap fittings of RM50 and RM3,000. Hence, by setting a budget you really are giving yourself and your interior designer parameters to work within. Boundaries are set.

Also on the topic of budget, is knowing where to spend the money. Are you a cooking enthusiast? If so, you may want to splurge on your dream kitchen with all the bells and whistles, while allocating the remaining money on basic wall finishes, etc.

On this note, the client gets to first decide where he or she wants to spend the money. It’s the designer’s job to then help source for materials and finishes that can fit into the budget and concurrently to the client’s liking. Sometimes however, the client may ‘break’ the budget as they want their cake and eat it too.

Some clients may be so enticed by a particular wall paper that they may decide to trim down the budget on the kitchen in order to get a great wallpaper in the living hall. My job is to ensure I help the client stick to the budget and advice them where it’s pertinent to spend the money. I do not want the client to be penny wise and pound foolish.

DP: Can you highlight some of the common mistakes people often make when attempting to do interior design work?

The most common mistake is not knowing where to start and under budgeting. Some people may start off trying to accomplish a desired concept but with an unrealistic budget. You have to remember that in order to achieve a holistic concept, you need to spend the money on wall and floor finishes and appropriate light fittings; and not just buy any bunch of furniture.

Hence again, it’s about the entire cohesiveness of the design, and this is not easily achieved by an untrained eye.

DP: Some may argue that ID is unnecessary and a waste of money mainly in studio apartments as the maximum rental one can hope for with or without ID is not too great a difference. How does a property with ID compare to a property without ID (both fully furnished) in terms of capital appreciation and rental income in such instances?

I think its best to try to look at this from a tenant’s prospective. If the market for the studio apartment is fairly new with many vacant units, I think a tenant who appreciates a good living ambiance, quality finishes in the bathroom and kitchen, is definitely going to be impressed with your unit.

Hence, in a glutted market condition like now, I personally think that most property investors in the rental market need to invest in ‘smart’ interior design, taking into consideration the needs of a potential tenant.

DP: What makes a good Interior Design and how should one select the right designer to work with?

You should be aware that there are Interior Decorators, Interior Furnishers and Interior Designers.

Interior Designers are registered under the Institute Pereka Dalam Malaysia (IPDM) which comes under the preview of Persatuan Arkitek Malaysia (PAM). Most contractors today claim to be Interior Designers but instead are self proclaimed decorators based on years of experience renovating people’s houses or apartments.

DP: Many of us perceive that ID comes at a high cost. What advise can you give someone looking to include ID in their properties but don’t have a big budget to do so?

The high cost is subjective. It all depends on the space and the budget. As for the fees for an Interior Designer, I think it’s suffice to say that you are essentially paying for the experience, design and time incurred to get your functionality met and ambiance created. For example, it’s just like hiring a lawyer for his or her consultancy, who works to understand your issue/challenge and provide you the best solution.

At the end of the day, it’s better to view the appointment of an Interior Design as an investment. If you do not have a big budget, perhaps it’s better to sit down with the designer and work out some perimeters on the scope of works that he or she is able to assist you with, and from there you can work out some adjustments to your budget.

Kennedy does corporate and residential ID work. If you have any inquiries or would like to reach him, you may call his office at 03- 2287 6654 or write to : dwssbid@gmail.com

Meet Sharmistha Hussain, her husband Abid Hussain and their beautiful daughter Sophia. They are expatriates in Malaysia and have chosen Armanee Terrace as their home. Sharmistha is a Business Director of Advertising and her husband is the Vice President of Network Creatives in Astro. What they shared with me during our interview will certainly benefit people who are looking to buy or rent a duplex apartment in this prestigious development.

DP: Can you share with us what attracted you to invest in a duplex concept apartment, specifically Armanee Terrace, as oppose to a landed property?

Armanee Terrace is a unique blend of a 2-storey townhouse, with impressive condo facilities. Landed property is limited in terms of facilities like pool, gym, security, etc which are a priority to us in terms of living. Additionally, unlike row houses, or semi-d’s, we are able to get the privacy of a bungalow, along with a garden, due to the architectural style of this condo, unlike other places.

DP: Can you tell us a little more about the unit you have purchased?

We live on the 15th floor, corner unit, a deliberate choice that allows us extra balcony space, both upstairs and downstairs (up to the 14th floor, the space is slightly less). In effect, we have 3 balconies, overlooking the city vista and the mountain. In addition, instead of traditional furniture, we have renovated the house to resemble a Balinese Villa including the landscaping of our large garden space, to include a big fish pond. With large French windows that open out to the garden and the city, we have used egg-white to highlight color via the paintings and other buys, from our travels around the world. The unit has 3 bedrooms, 1 study, maid’s room, family den, living room, dining space and ample storage space.

DP: The official Armanee Terrace Condo (ATC) community website indicates a large number of complaints from residents mainly that the workmanship at ATC is rather mediocre, if not poorly done, causing continuous renovations and replacements. What are your thoughts on this?

This was initially true, when MK Land handed over the property a few years ago. However, most of the units like ours, have been bought and renovated extensively by purchasers. As such, most units, especially the corner units which are most popular to expats have all been fixed in terms of tiling, plumbing, walls, leaks, garden waterproofing, flooring, etc. Thus, future buyers face the advantage of not having to redo or make do with the poor performance by MK Land. Additionally, the Armanee Terrace Condominium JMC is committed to liaising with the Developer to ensure corrective measures are taken with regards to the facilities, security, etc.

DP: The Balinese theme in ATC is something to be admired, how do you find the overall landscaping, facilities and aesthetics that ATC has to offer?

So far, I have seen many condos in KL, and Singapore. By far, the one reaction that I get whenever guests visit Armanee Terrace, is that they are ‘impressed’ with the overall theme, the individual gardens for each home, the 2 pools with salt water treatment rather than chlorine (hence healthier for kids), etc.

DP: What advise can you give to the two type of buyers deciding on purchasing ATC for different purposes, first an investor looking to generate rental income and second a person purchasing for own stay?

We have bought our corner unit with the dual purpose of investment and personal stay. My advise would be to buy units which have been pre-renovated and also consider their life-stage. For example, in terms of investment, I find that being expats, we are more willing to invest in corner units, since we will be living here for quite a few years. When we do decide to sell, we know that there will be other expats more inclined to buy the corner unit to avail of the natural space for their kids. Both in terms of investment and own-stay, ATC is ready to buy, and not cluttered like places in Mont Kiara and Hartamas. Moreover, Damansara Perdana is booming and with the proximity to Curve/IKEA, it’s a good choice.

DP: If there was anything you could change about ATC, what would that be?

I wish that our beautiful, green hill on our front could have been saved, since it was similar to living in a hill station during rainy days. However, once the hill villas come up, the entire landscape will be beautiful once more.

I have seen 4 building managers come and go for Perdana View Condo (my office is located at the Perdana View Business Suites) over the last 4 years. I have personally meet all 4 of them and must say that the current manager, Mr Stanley Tan, stands out. Since Stanley took office, he has implemented major improvements and changes to Perdana View. All for the better.

He has demonstrated a strong ‘can do’ attitude that has seen many residents and tenants nodding in approval. Stanley’s ongoing improvements ranging from security to the improved look and feel of Perdana View, has resulted in happy residents and satisfied business owners.

In my first meeting with him, it was evident that Stanley had a genuine and strong interest in the betterment of Perdana View Condominium, which previous managers lacked. He is certainly the ideal person for the job and is setting the benchmark for future managers of this property. I recently caught up with Stanley to ask him to share his goals and visions for Perdana View Condo.

DP: Hi Stanley, can you share some of the challenges you faced when you took over the JMB office at Perdana View?

I think the problems then were 3-fold:

1. The property management office (PMO) was not well-manned, leadership & management knowledge were absent resulting in a break in the chain of command in getting defect rectification work, other facilities & accounts complaints addressed speedily; Planning & budgeting ahead needless to say was non-existent;
2. Financial management was poor in that defaulters were not promptly dealt with, resulting in high accounts receivables; management accounts were not accurate as car park rentals were not audited resulting in carpark income not properly tapped, accounts categorization via GL codes were not properly streamlined & source document not properly kept & tagged; Last but not least, a whole 200 items of outstanding maintenance tasks & accounts-discrepancy complaints left unattended to.
3. Almost all maintenance tasks were farmed out to 3rd party contractors instead of attending to them using in-house resources, that resulting in unnecessary wastage & high maintenance costs to JMB & depleting JMB’s general maintenance fund.

In short, the property was not managed by qualified & competent personnel.

DP: You have given the condominium a new face lift, improved traffic flow within the compounds and also installed CCTV as added security measures. What else can the residents expect to see in the coming months as part of your improvement plans and vision for the property?

In fact, since taking over in January this year, I have always stressed that any term of reference for any property manager must be to enhance the asset value of the property we claim to manage professionally. As such, all property improvements must gear towards attaining value. In doing so, the basic tenets of property management with regard to property maintenance & contractor services such as security, cleaners, landscapers, lift & pool maintenance & so on must be a given.

Besides CCTV installations to better secure the building, reconfiguring traffic routes, we are also into revising the landscaping outlook to project a more modern & relevant look & feel for the condo. Gym upgrading by renewing gym equipment, selective repainting especially on major facades are on going. There is always a way to manage all these big ticket items cost-effectively. Refurbishment of the current tennis court & it’s conversion into a dual-purpose court for futsal & tennis, intercom system, entrance water fountain, upgrading entrance lobbies, polycarbonate covers for air-wells & internal facade repainting are next.

DP: There have been many managers prior to you taking office. What is it that you have done differently in successfully implementing the positive changes where so many of your predecessors had failed?

Competency I guess. One thing we do differently is we also function as a secretariat for the JMC. That way, the executive committee & PMO can then co-ordinate & address issues efficiently as I serve as a crucial bridge in not only reporting but get prioritized works done quickly with full accountability. I also advise the JMC on tender committee set up involving both JMC & parcel owners & function as a secretary to the committees to better execute tender exercises in seeking out the most cost-effective supplier. The security & CCTV tender committees are the cases in point.  Another is planning ahead, strategically.

Customer service is another. We need to engage the general residents & attend to their complaints expeditiously. I have set up a community website for information dissemination apart from the traditional notice boards, created complaint channels & time-stamped each complaint as they come in. These are centrally filed & actions taken by maintenance or accounts are properly archived. There are SOPs for PMO to abide by. Administratively, we updated all resident files, contacts & use system generated sms to communicate with residents on their arrears & so on.

Moving forward, I am in the process of creating a facility for residents, via password security, to view their statements via our community website, i.e. www.perdanaview.com.my. A web interactive forum is also in the pipeline.

DP: Many of MK land developments; mainly Armanee Terrace have negative feedback in terms of
workmanship and materials used in the construction. What are your thought in this?

I think these are the issues MK Land will have to address isn’t it? All I can say is that the developer should take their customers seriously & attend to their complaints more objectively & promptly. Don’t forget, these are your customers; they do not need conversion as they have already bought into your products, and they are your best pool of repeat customers for your future projects if you handled them well. Failing that, no disgruntled customer is going to buy your product again or for that matter recommend to their friends to buy having had an unpleasant experience the first time around.

DP: Stanley what advise can you give other managers in Damasara Perdana, to help them achieve what you have achieved in Perdana View Condo?

I don’t think I’m in the position to advise.Perhaps we should all remember that we are paid a Professional Management Fee to manage for our clients who entrusted their property & their well-being to us. Be professional, i.e. do not even take up such appointment if you don’t even know what property management is all about.

DP: Stanley can you share with us what makes Perdana View Condo a great place to live and invest in for potential buyers and tenants?
Perdana View Condominium & Perdana View Boutique Serviced Residence (PVC) presents great investment opportunity. We have 388 parcels of residential units in blocks A & B, & another 60 at C & D. We also have 38 units of retail/offices measuring average of 1,000sf.
The property is now trading at around 280-310psf where all around us are transacting at 370-400psf. Our sizes of 988sf-1111sf & 1800f-3800sf present a good mix of various choices to suit various budget. Rental yields are presently at 6.8-7.5% nett of out-goings. With all the enhancement projects we are doing right now, the future is pointing north-wards,psf-wise & yield-wise, I’m sure.

Imran is a person who strikes a good first impression. There’s a certain decorum to the way he speaks and carries himself but what is striking about him is his attention to detail. When I took him to view the earlier mentioned property, his eye caught every detail. He noticed minute design flaws and when I saw the property from his perspective, it lacked good craftsmanship in many areas. He was definitely a discerning buyer and I knew that he could give valuable insight on the studio apartment market.

So, I decided to interview him for DamansaraPerdana.com.my readers.

DP: Imran, can you share with us what attracted you to the studio unit concept?

Firstly, hello Ridzwan (DP). The studio unit concept was an appealing choice after I assessed my needs carefully. As a bachelor, I don’t have a wife or children, so the three rooms that come with a standard condo are two rooms more than what I need. People will say that, even as a bachelor, you can convert the extra rooms into a guest room or study. Firstly, my friends are also bachelors so they don’t stay over. They’ll go back to their own home, condo or mother’s house no matter how late the hour, so the guest room is not needed. Secondly, I much prefer to work on the laptop in the informal surroundings of a living room with a view from the living room, with the tv remote at one arm’s reach and a drink at the other, while sitting on a comfy sofa so I can take a nap in between work (can’t do this at the office); so I didn’t need a formal study room either. I asked myself, “If I could scale back the size (from a 3 bedroom condo to a studio), but I’m willing to maintain the same budget for a condo, can I get something special, something extraordinary, something with a WOW-factor?” Of course there are plenty of choices available. Working on the same budget as a condo, studio units offer more interior design per square foot, more swank per living space, and takes lifestyle up a few notches compared to ordinary living. There is a saying that ‘less is more.’ For people who don’t follow the common thought where ‘more is more,’ they’ll find that studio units will exceed their expectations. As a plus point to potential owners of studio units, the rent per square foot is better than that for a condo.

DP: How many units did you see in Ritze 2 before deciding on this one?

I scouted about seven places before finding this unit. In every previous place, it was a case where the condo was almost right but there was always something missing, something that fell short of extraordinary. I saw units that were nice but had no balcony, units that were cosy but had no window in the toilet, units that felt warm but the wall colour was off, units that were right in every way but it faced a noisy street – you know, small little niggles that, unless you’re exceedingly particular with attention to detail, you don’t mind putting up with. I wasn’t like that. To me, interior design and exterior view need to come together harmoniously and when they do, you can perceive the soul of the house or the condo or the studio. It’s there in the overall ambience. And that’s when you feel at one with your living environment. My
feeling on this issue is that if the unit isn’t 100% what you’re looking for, hold out longer. Something better will come along. And when it does, you’ll be glad you didn’t settle for second best earlier. And you’ll end up with something that makes sense to the mind and matches the desires of your heart.

DP: What stands out about this particular unit your renting?

There were two things that this unit had that distinguished it from the rest of the pack. Firstly, ID. Secondly, natural sunlight. The interior decor was outfitted with floor to ceiling mirrors that not only reflected a sense of space but, frankly, pretty good taste. This unit is only 450sqft in size but the sense of space you get when you walk inside betrays those figures. It feels much larger in reality. The use of colours such as the purple feature wall hinted at playfulness, and personal ideals that defy convention, and is such an attention grabber when new visitors come over. And the wow factor only builds up when you stand over at the balcony, where the views of the distant hills tease you with feelings of serenity. Natural sunlight floods into the bedroom and living areas and imparts a subtle but distinctly positive, feel-good factor. And I like that feeling.

DP: How do you find a deal like this?

I went online and found an agent who posted up pictures of this unit. The pictures told me this was worth seeing.

DP: What do you look for when deciding to rent a place?

The interior decor is the starting point, the nucleus of a thousand decisions. And I’m only talking about how well it’s furnished. From this centre, all other considerations orbit like a constellation of factors I need to consider as well. If the starting point – interior decor – is right, then the rest can begin. What view do I have? (Greenery is my preference) Which direction does the view face? (I prefer East) How big is the toilet? Does the toilet have windows? How much sunlight do I get in the morning? How long can the sunlight brighten up my living space before I have to switch on the lights? How hot does the unit get in the afternoon before I have to switch on the aircond? (As with all things natural, I prefer the gentle sway of wind as a cooling agent. I need to know how long this can last before it gets too hot and need to switch on the aircond). As you can see, the unit itself must meet certain criteria. If it does, then I’ll look at the amenities. The closeness of the parking lot to the lift is very important – not just to me but, should I come to sell the unit later, I’m quite sure a potential buyer would also prefer a parking lot that’s close to the lifts. I’m not too particular about having a swimming pool. Although in theory it’s nice to show to friends, in all likelihood, there’s little chance I’ll use it. After work, all I want to do is retreat into the comfort of my pad (hence why the unit itself must be inviting), chow down a steaming kuey teow with reruns of Ally McBeal playing on the TV and read the latest Jon Krakauer opus to end my day. And the weekend is an excuse and opportunity to go outstation – Frasers, Melaka, Camerons: you know, somewhere nearby just to get away from KL – so again, I don’t use the pool on Saturdays or Sundays. Having said that, Ritze 2 has the kind pool you see in modern hotels. It’s nice to be able to show it to friends but at the end of the day, they want to see your unit. They want to see whether you live in heaven or hell (and they’re ready to laugh at you if it looks like hell). My choice is, I want to live in heaven on earth.

DP: What are your thoughts on the current rental prices at Ritze 2?

Considering my needs, the current rental prices at Ritze 2 is reasonable. Not cheap, but not too expensive either. It’s somewhere in the middle. At these rental prices, Ritze 2 attracts a certain type of buyer or tenant. The profile buyer of a unit at Ritze 2 is an astute investor who knows demand exists for a clientele made up by single working professionals and who are willing to pay a premium if it allows them to rise above ordinary condo living. He’s not interested to buy a multiple-bedroom condo because he’s catching a different fish. The people he’s after are image conscious. Ritze 2 creates an image about them. It says something about who they are. This image, mythical or real, then feeds into the lifestyle they envision modern, forward-thinking young people lead in today’s world. The market is always ready to house this select group of people into nice studios. And they’re ready to cough out a nice rent for it.

DP: What advise can you give owners that are seeking tenants such as yourself to better attract them?

Invest in your interior decor. It’ll reap larger returns in the long run. As people, we’re fascinated by design. Some buildings that were designed long ago still manage to grip our imagination. 1 Kemble Street near Covent Garden, built in the 60s, is an iconic circular tower that was ahead of its time and still manages to look good today. That’s just one out of hundreds of examples. The greatest designs open up our imagination; it shows us the magic a beautiful mind can create; and it inspires the artist that lives in each and every one of us to come out and be extraordinary. When a home exemplifies the highest standards of design and attention to detail, buyers will come knocking at your door.

Very quickly, the Curve became a gem in the area. IKEA and Ikano Power Center or IPC as it is known now drew huge weekend crowds. The completion of Cineleisure or e@Curve sealed the deal. DP is now one of the most coveted residential area in Petaling Jaya. The upcoming Sungai Buloh – Kajang MRT will most likely have a station nearby, which again, bodes well for DP’s value.
DP consists primarily of high rise units ranging from mid-end to high-end. The only landed property available at the time of this post is the Rafflesia Semi-Detached houses which is nicely nestled atop a private hill. All property here are leasehold.

The earlier developments like Perdana View Condominium, Ritze Perdana 1, Tropics, and Perdana Exclusive have very nice facades but I’ve heard of and met some disgruntled owners who have complained of leakages and construction defects. I have personally heard of complaints with the newer Metropolitan Square as well but on a lower scale. There has been rumors that one large tenant moved out of the Metropolitan Business units due to excessive leakages but I am unable to confirm this and it remains a rumor.

The plus side to all the apartments and condominiums in DP, is their pool areas. Every development here has a beautiful pool area. If you like having barbecues and pool parties, you will love it here. The buildings have decent architecture and aesthetics, especially the newer developments like Ritze Perdana 2, Rafflesia, and Armanee Terrace. Good demand, for both purchases and rental, has resulted in healthy appreciation for most of the developments.

The DP demographic is middle-class. A significant number of residents here are young, white collar, single individuals or couples. Armanee Terrace, Rafflesia, and the under-construction Armanee Terrace II will attract larger upper middle-class families including expatriates who generally like the overall ambiance of developments like these. Generally though, the families that live here are relatively young.

DP itself does not necessarily meet all  the lifestyle demands of this demographic. It lacks a good shopping mall, good eateries, and entertainment. However, with the Curve and One Utama so close-by, it does not make any sense to develop more recreational centers. DP can leverage the massive lifestyle-based developments in the adjoining Mutiara Damansara. Having said that, there are some small businesses that provide excellent lifestyle options for residents.

Mum’s Place, deserves special mention for its good Nyonya food. Maya Yoga Samudraa has some of the best yoga instructors in the Klang Valley area. The famous Backyard pub also has a branch in DP. Overall, DP has huge potential. It is generally a good development for the following reasons:

• Good Surrounding Developments – Around DP are very good developments like Mutiara Damansara, Bandar Utama, Kota Damansara, Taman Tun Dr. Ismal, Mont Kiara, and Desa Park City. Some of these are award-winning developments.
• Good Access – Quite a number of highways link to this area and when the MRT is completed, DP will be very attractive.
• Shopping & Entertainment – IKEA, the Curve, e@curve, IPC, and One Utama provide ample shopping, entertainment, and gastronomic experiences for residents.
• Schools – There are plenty of schools and options. Neighboring Bandar Utama has 4 public schools and 1 Chinese medium school. Nearby Mont Kiara has 2 prestigious international schools and 1 international French school. Private schooling is also available in Kota Damansara and Damansara Heights.