Three Bed Flat to Rent for Expat Relocation in KL - Pavilion Residence

A shot to nothing - but may be someone here being relocated to KL for a year or two and looking for a properly sorted flat .

It's a 3/4 bed corner unit overlooking pool in Pavilion Residences (bang opposite Marriott and Westin Hotels).

I did the interior with long term expat rental in mind right the way through - decent TVs, Yamaha sound bar, 5 star deluxe bed mattresses, even bloody goose down pillows as well as hypo allergenic

2405 sq feet

Everything is here to move in with a couple of suitcases. Two underground parking spaces. Was getting 13000MR /month will take a deal will take 11k without agent for a mid January 2015 move in.

The flat comes with a retained managing agent to deal with day to day repairs so the maintenance is top notch and no quibbles about sorting stuff during tenancy

Downstairs is Pavilion Mall.

PM me if you know anyone - seriously decent bottle of malt if you can intro a punter1

Thanks

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Seriously nice gaff you have there mate,

Good luck with it.

Thanks - yours for 11kmr/month :-)

It's part of the "pension" planning so having it empty is not ideal :-(

I can always sell my bottom around the streets of Bukit Bintang after midnight. There's a fair bit of that going on nearby with the most unconvincing trannies since Barbara the cabbie in Royston Vasey.

Hopefully a rich expat with an enormous relocation allowance will turn up before it comes to that.

^Can I ask, but is it worth buying in Malaysia as an investment?

My wife is often based between Malay and Singapore and we were considering property outside of Thailand.

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Originally Posted by Jesus Jones

^Can I ask, but is it worth buying in Malaysia as an investment?

My wife is often based between Malay and Singapore and we were considering property outside of Thailand.

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High end developments are selling within 24 hours of launch if in KLCC/B Bintang area. The Banyan Tree opposite me sold out lastyear at 2000MR psf. I paid 850MR psf seven years ago.

Most of the money is Chinese, some Arab. Lots of empty units on rental market - with few tenants. That said, most of the interiors are not exactly "on message" for the typical relocating expat.

I have had about 90% occupancy since getting keys at 12-13K a month. Shell, Standard Chartered and then a big mining company as tenants.

Will it crash? Everything does periodically. I've thought that about London for the past 10 years and look what's happened there!

The short let market is very viable now. Tripadvisor etc have been a real game changer and many tourists and biz travelers prefer an apartment. If so - go for BB/KLCC. Two beds and emulate Ritz Carlton et al in terms of bed quality and interior design. You should build a following fairly quickly if you have the time /patience to be here to sort stuff youself.

All said and done it's a bargain compared to BKK and Sin.

Better to buy "used". My 2400 sq ft in the most prime KL location comes at 1650/1700 psf.

Some deals to be done here semi prime locations buying and toshing up for re-sale. Buy a shabby flat in a good building, renovate to euro taste (not chinky) and there's a margin tol be had.

Hope this helps

Thanks for the info.

Nice gaff!

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Originally Posted by Jesus Jones

Can I ask, but is it worth buying in Malaysia as an investment?

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Originally Posted by Lostandfound

Most of the money is Chinese

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Ive noticed that in Penang, where most of those high end properties lie empty and I think the rule of thumb is you double your money in 5 years, which you seem to have done also.

I'd consider dropping your rental price if you wanna keep up with the Chinks and get a bigger TV :)

Condominium For Rent at Pavilion Residences, Bukit Bintang For RM 9,000 by Tommy Lai

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Originally Posted by Dillinger

I'd consider dropping your rental price if you wanna keep up with the Chinks and get a bigger TV

Condominium For Rent at Pavilion Residences, Bukit Bintang For RM 9,000 by Tommy Lai
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Interesting.....

Most of those ads are bait and switch. Typical 3 bed units in Pavilion mostly asking 12-14 k according to agents here....

any experience of similar enterprise in Thailand BKK ?

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Originally Posted by Lostandfound

Typical 3 bed units in Pavilion mostly asking 12-14 k

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I did see a few on there more expensive than yours

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Originally Posted by Lostandfound

Most of those ads are bait and switch.

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I see it does state on there....

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***We are please to arrange a few units for you to choose !!***

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so maybe you're right and that'll be for the 1,000 sq feet

Good luck anyhow, lovely looking pad

Have they finished building that Metro through Bukit bintang Yet ?

Christ, What a friggin nightmare that was last time I was there. :confused:

Seems like all of KL is a construction zone at the moment with the Extension of the underground being built.

Chinatown area was a mess as well. Be a great system when its finished Though.

I like KL and Malaysia in general. Good spot with generally friendly people.

Whole city is a traffic disaster.

Bukit Bintang will benefit from the extra line for sure - although I do worry as getting to /from work is a major ball ache for expats here and it will also make the city centre more commutable so the benefits in residential property values will perhaps be around outlying areas...

Meanwhile the taxis are pretty useless here - I have started using UBER - better in every way, cheaper too.

Had an offer today at 11k and a second viewing on Weds for 12k. Single Singaporean with Big Oil. Not great but dates suit perfectly with my travel plans.

Despite the oversupply of property to rent there does appear a niche market here for medium to long term rentals that are in all other respects like 5 star serviced apartments. The typical punter will spend their business traveling in Intercontinental Hotel type Club rooms, so emulate that with a bit of "local character" and seems to work. The chinese and Arab owners (not to mentiion their managing agents and the real estate brokers here) seem indifferent to meeting the requirements of relocating expats.

If I was investing more here I'd go for 1 and 2 bed units in prime buildings KLCC/Bukit Bintang

Hopefully close one or the other up this week then a well deserved holiday! :)

My last tenant moved out of my gaff a few months ago so the agent had to get another one.

My place was vacant for two weeks only before the new tenant moved in.

Cost me 2 K AUD. :confused:

Two weeks lost rent, plus in Australia the agents charge two weeks rent to get a new tenant.

Long term tenants are the way to go.

Oh yes, also the rental market has collapsed so my rent went down from $400 a week to 375.

Better to accept a lower rent and get it filled.

I price my UK flats (in theGents neck of the woods mostly. This adds anormously to their value, of course) at 5-10% below agents' valuations. They normally turn over back to back with only 1-2 days void.

You can always afford to be a bit fussy about who you take on as tenants that way. Except in Boscombe.

Boscombe has a reputation for for being a shit hole for of druggies, chavs and immigrants. In Boscombe I'm afraid you have to take whatever you can get and hope they don't burn the place down.

Not so knowledgeable newbie here Lostandfound.
Where is "KL" located ?
How much or what in US "$" is 1300 "RM"?

Hi.."KL" is Kuala Lumpur..which is in Malaysia.
MR is Malaysian Ringgit..1300 = USD $368.35 or AUD $455.52

Cheers

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Originally Posted by biff

Hi.."KL" is Kuala Lumpur..which is in Malaysia.
MR is Malaysian Ringgit..1300 = USD $368.35 or AUD $455.52

Cheers

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Thanks biff. Cheers backatcha !

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Originally Posted by biff

Hi.."KL" is Kuala Lumpur..which is in Malaysia. MR is Malaysian Ringgit..1300 = USD $368.35 or AUD $455.52 Cheers

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I do believe you have the digits way off its 13,000 or a little less not 1300, making the rent about 10 times what you quoted. :) sorry

Well , yes, I am off a long way, bugger, nice apartment though.:)

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Originally Posted by biff

Nice apartment though.

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Fairly much ground zero in the center of the city. Quite resonable rent given the location, quality and size of that Unit.

It's a great location - the mall downstairs has a huge food court with local, indian, chinky, veggie, sushi, barbecque.....pretty much everything.

Some decent enough bars plus all the local style clubs are just a coupel of minutes' walk.

Next door to Millenium Hotel, opposite Marriott, Westin and Ritz Carlton.

In hindsight I wish I'd bought 3 or 4 units here and never bothered with Thailand.

There is real scope here for a small scale serviced apartment / holiday let business here that would make a nice retirement lifestyle biz. Easy to undercut and better locations than the big players and the locals are hopeless ar understanding expat tastes.

KL seems quite expensive. A comparable flat in BKK would be in the region of 60,000-75,000 tops.
How much was it new and can foreigners buy without any residence requirement?

2400 sq ft about 220m2 cost around 21m thb 7 years ago

Based on 850mr psf

Today asking prices 1600 -2000 psf

Seems there has been some serious capital flight from malaysia in last 6 months. Property is vulnerable.

My only mitigation is location and building. Pavilion is pretty non plus ultra for Kl real estate

I will take a hit on rental income. The new sails on the boat will have to wait :-(