Lanai Residences is a 24-storey freehold condominium located in Bukit Jalil, Kuala Lumpur.

The development consists of 648 units, each with a built-up area of 800 sq ft, featuring 3 bedrooms and 2 bathrooms. The property is designed to cater to family living, with proximity to various recreational and sports facilities.

Sub-Sale Market Analysis

Market Price:
- The market price for Lanai Residences is around RM280,000 for a built-up area of 800 sq ft[4].
Comparative Analysis:
- New Developments: Newer non-landed residential developments in Bukit Jalil fetch prices ranging from RM500 to RM550 psf, while new and under-construction projects command RM600 to RM800 psf[2][5].
- Older Developments: Older non-landed properties average RM400 psf[2][5].
- Lanai Residences: Given its completion in 2020, Lanai Residences falls into the newer category but is priced lower at approximately RM350 psf (RM280,000 for 800 sq ft), indicating a competitive pricing strategy.
Rental Market:
- Rental Price Range: The rental price for units in Lanai Residences is around RM 1,700 per month for a fully furnished 3-bedroom, 2-bathroom unit[3].
- The average rental rate for non-landed projects in Bukit Jalil is RM1.60 to RM2.20 psf, depending on the type and age of the developments[2][5].
- Yield: Non-landed properties in Bukit Jalil offer an average yield of 4%[2][5].
Market Demand:
- The demand for residential developments in Bukit Jalil is strong, with a particular preference for landed properties. However, due to the scarcity of new landed projects, non-landed properties like Lanai Residences have become a popular alternative[2][5].
- Demographic: The target market in Bukit Jalil is primarily the upper-middle class, including upgraders from older and mature areas such as Sri Petaling, Puchong, and Seri Kembangan[2][5].
Challenges:
- Oversupply: The rapid development of high-rise properties in Bukit Jalil could lead to an oversupply, potentially affecting price growth[2].
- Limited Interest: Despite the freehold tenure, some parts of Bukit Jalil may face limited interest due to the need for state consent for property transfers[2].