The Avare is a luxury condominium located in Kuala Lumpur City Centre (KLCC).

It was completed in 2009 and consists of 78 units spread across 41 floors. The development is known for its high-end features and prime location near embassies and major attractions in Kuala Lumpur.

Key Details

Completion Year: 2009
Number of Units: 78 exclusive residential units
Number of Floors: 41 stories
Unit Sizes: Typically ranges from approximately 3,800 to 7,696 square feet
Architecture: Contemporary design with an all-glass facade, providing stunning views and an elegant appearance.

Sub-Sale Market Analysis

1. Current Transaction Prices

Price Range: Units at The Avare are currently being transacted within a range of approximately RM3.5 million to RM10 million, depending on factors such as unit size, floor level, and view.
Average Price per Square Foot: The average transaction price per square foot ranges from RM800 to RM1,200. This variability is influenced by the unit’s specific features and condition.
Market Trends: Over recent years, luxury condominiums in KLCC have experienced fluctuations in pricing due to market conditions. However, The Avare has maintained a competitive edge due to its exclusive amenities and prime location.

2. Rental Prices

Monthly Rental Range: Units in The Avare can command monthly rental prices ranging from RM10,000 to RM20,000. This wide range depends on the unit size (typically around 3,800 sq ft) and the specific amenities included.
Rental Yield: The rental yield for properties in this segment is approximately 4% to 6%. While this yield may not be exceptionally high compared to other investment opportunities, the potential for capital appreciation remains strong.
Demand for Rentals: Given its location near embassies, shopping centers, and business hubs, there is consistent demand for rental units in The Avare. Many tenants are expatriates working in the area or affluent individuals seeking luxury accommodations.

3. Market Dynamics

Luxury Segment Resilience: Despite economic fluctuations and market corrections affecting other segments, the luxury market segment, including The Avare, has shown resilience. High-net-worth individuals continue to seek exclusive properties in prime locations.
Exclusivity and Limited Supply: The Avare comprises only 78 units, contributing to its exclusivity. This limited supply enhances demand among affluent buyers and renters looking for high-quality living spaces.
Investment Potential: For investors, The Avare presents opportunities for long-term capital appreciation. As Kuala Lumpur continues to develop as a regional hub, properties like The Avare may see increased value over time.
Competitive Comparisons: When compared to other luxury developments in KLCC, such as Four Seasons Place and Petronas Residences, The Avare remains competitive in terms of pricing and amenities, appealing to a similar target demographic.