Scarletz Suites is a serviced residence project located in KLCC, Kuala Lumpur.

It is developed by Exsim Group and consists of 604 units in a 49-storey tower. Unit sizes range from 450 sq ft to 575 sq ft, with a leasehold tenure.

The project completed on 2022.

Sub-Sale Market Analysis

1. Transaction Prices

The sub-sale market for Scarletz Suites KLCC has shown varied transaction prices, reflecting its appeal and the dynamics of the local real estate landscape.

As of the latest data:

Price Range: The asking prices for units in Scarletz Suites KLCC range from approximately RM500,000 to RM928,000. This broad range caters to different segments of buyers, from those looking for entry-level options to more luxurious accommodations.
Average Prices: The average transaction price is around RM645,000, with many listings falling between RM720,000 and RM850,000 for units sized around 450 sq ft. This price point positions Scarletz Suites as an attractive option compared to other developments in the KLCC area, where prices can exceed RM1,800 psf.
Price per Square Foot: The price per square foot for sub-sale units typically ranges from RM635 psf to RM2,062 psf, depending on factors such as the floor level, view, and unit condition. For example, a 450 sq ft unit may fetch a price of RM800,000 or higher, reflecting a premium for desirable features.

2. Rental Prices

The rental market for Scarletz Suites KLCC also presents promising opportunities:

Monthly Rental Rates: Current rental prices for units in Scarletz Suites typically range from RM2,200 to RM4,000 per month. The variation in rental prices depends on the unit size, view, and overall condition.
Rental Yield: Given the transaction prices and rental rates, the estimated rental yield for properties in Scarletz Suites KLCC stands at approximately 4% to 5%. This yield is competitive within the Kuala Lumpur market, especially considering the prime location near major attractions like the Petronas Twin Towers.
Market Demand: The demand for rental units is bolstered by the development’s strategic location in the city center, making it attractive to expatriates, professionals, and students who seek convenient access to amenities and transportation.

3. Market Analysis:

Scarletz Suites is considered one of the more affordable options in the prime KLCC area
Prices are lower compared to surrounding luxury condos that can reach RM3,000 psf
However, the small unit sizes may limit appeal for some buyers/tenants
Commercial title allows for short-term rentals like Airbnb
Location near KLCC is a key selling point
Rental yields appear to be around 4-5% based on current prices and rents
Capital appreciation potential exists if the area continues to develop