The Manhattan Residen 61 Raja Chulan

The Manhattan is located on Jalan Raja Chulan, a prestigious address in Bukit Bintang.

It boasts excellent connectivity, being near major public transportation nodes such as the Raja Chulan Monorail station and within walking distance of Pavilion Kuala Lumpur shopping mall. This proximity to commercial and entertainment hubs makes it highly attractive for residents who want a vibrant urban lifestyle.

Nearby developments include:

• The Mews @ Bukit Bintang: Situated just a short distance away, this development offers similar urban living advantages with easy access to Bukit Bintang’s retail and dining options.
• The Residences at The Ritz-Carlton: A luxury development also within Bukit Bintang, known for its premium positioning and five-star hotel amenities.
• Fahrenheit 88 Residences: Located close to the famous Fahrenheit 88 shopping mall, it appeals to younger professionals and those seeking convenience.

While all these properties benefit from the central Bukit Bintang location, The Manhattan stands out for its slightly quieter street setting on Raja Chulan, balancing accessibility with exclusivity.

Sub-sale Market Analysis

1. Sub-sale Transaction Prices

• Price Range: The sub-sale transaction prices for units in The Manhattan varied, with prices ranging from RM 950,000 to RM 1.68 million. The median transacted price per square foot was around RM 1,495 [2].
• Capital Growth: The Manhattan experienced a significant capital growth of 71.46% over time, indicating a strong increase in property value [2].

2. Rental Prices

• Rental Range: In 2023, rental prices for units at The Manhattan were noted at approximately RM 3,500 per month for a 722 sqft unit or RM 4.85 per square foot [4]. Another listing mentioned a rental price of RM 3,800 per month for a 588 sqft unit, translating to about RM 6.46 per square foot [5].

3. Additional Insights

• Location: The Manhattan is strategically located in Bukit Bintang, Kuala Lumpur, offering easy access to major transportation hubs like the Raja Chulan Monorail and Pavillion Bukit Bintang MRT [2].
• Facilities: The condominium features a range of amenities, including a swimming pool, gymnasium, squash court, multi-purpose hall, and 24-hour security [1].
• Developer: The project was developed by Peninsular Smart Sendirian Berhad [1].

Price Comparison

1. Transaction Prices:

• The Manhattan units typically range between RM950,000 to RM1.68 million, with prices averaging around RM1,400 to RM1,600 per square foot depending on unit size and floor level.
• The Mews @ Bukit Bintang has prices generally slightly lower, ranging from about RM900,000 to RM1.4 million, with psf rates averaging RM1,200 to RM1,400.
• The Residences at The Ritz-Carlton command a premium price due to their luxury branding, with prices often exceeding RM2 million and psf rates above RM2,000.
• Fahrenheit 88 Residences are considered more affordable with units priced around RM700,000 to RM1.1 million, averaging RM1,200 psf.

2. Rental Prices:

• Rental rates at The Manhattan typically range from RM3,000 to RM4,500 per month, translating to approximately RM4.50 to RM6 per square foot.
• Rentals at The Mews are slightly lower, often between RM2,500 and RM3,800 per month.
• The Ritz-Carlton residences command higher rents reflecting their luxury status — often above RM5,000 per month, with premium services included.
• Fahrenheit 88 offers competitive rentals around RM2,000 to RM3,500 per month, appealing to younger renters or those with moderate budgets.

Sources:

• [1] www.propertyguru.com.my
• [2] www.iproperty.com.my
• [3] www.propertyguru.com.my
• [4] www.propertyguru.com.my
• [5] www.edgeprop.my