Victory Suites is a premier residential development located at 1020, Jalan Sultan Ismail, Kampung Baru, Kuala Lumpur.
Nestled in the vibrant Central Business District, this luxurious oasis consists of 1,028 well-designed service apartments that cater to a range of lifestyles.
With its strategic location near iconic landmarks like the Petronas Twin Towers and KL Tower, Victory Suites offers residents unparalleled convenience and access to the best that Kuala Lumpur has to offer.
Features
- Diverse Unit Options: Victory Suites offers a variety of unit types ranging from 560 to 2,455 square feet, accommodating both individual professionals and families.
- Modern Amenities: Residents can enjoy an infinity pool, state-of-the-art gymnasium, and 24-hour security, ensuring a lifestyle of luxury and comfort.
- Prime Location: Situated in the Central Business District, the development is within walking distance from major attractions, shopping centers, and dining options.
- Excellent Connectivity: Just 500 meters from the Medan Tuanku LRT station, residents have easy access to public transportation for seamless commuting.
- Quality Craftsmanship: Developed by Platinum Victory, the project boasts high-quality finishes and meticulous attention to detail in every unit.
- Community-Oriented Living: The development fosters a sense of community with proximity to educational institutions and recreational areas, making it ideal for families and young professionals alike.
Project Details
Location: 1020, Jln Sultan Ismail, Kampung Baru, 50250 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
Project Title: Commercial
Project Type: Service Apartment
Tenure Type: Freehold
Minimum Price: RM 1,212,000 (Gross)
Maximum Price: RM 3,124,000 (Gross)
Area/City: Jalan Sultan Ismail
Specification
Built Up: 560 – 2455 sf
Land Area: 4.75 Acres
Bathroom: 1 – 3
Bedroom: 1 – 4
Max Unit: 1028
Number of Blocks: 1 Block
Number of Floors: 52 Level
Lifts per Floor: Total 12 lifts (8 for Hotel Customer, 4 for residence)
Developer: Platinum Victory
Phase: 2
Expected Completion: Q3 2022
Analysis of Victory Suites
1. Strengths
- Prime Location: Being in the CBD of Kuala Lumpur grants Victory Suites immediate access to shopping, dining, and entertainment options, enhancing its appeal to potential residents.
- Comprehensive Amenities: The inclusion of facilities like an infinity pool, gymnasium, and 24-hour security not only adds value for residents but also differentiates it from other developments in the area.
- Quality Development: Developed by Platinum Victory, known for its commitment to quality, residents can expect high standards in terms of construction and design.
2. Weaknesses
- Price Point: The minimum selling price starting from RM 1,081,000 may be a barrier for some buyers, particularly first-time homeowners or those on a tighter budget. This could limit the target demographic to higher-income groups.
- Market Saturation: The Kuala Lumpur real estate market has experienced an influx of new developments. Victory Suites must continuously innovate and maintain its competitive edge to stand out among numerous offerings.
3. Opportunities
- Growing Demand for Urban Living: As more people move to urban areas seeking convenience and accessibility, there is an increasing demand for high-quality residential developments. Victory Suites can capitalize on this trend by marketing itself as a lifestyle choice rather than just a living space.
- Tourism Growth: With Kuala Lumpur being a popular tourist destination, the potential for short-term rentals or serviced apartments within Victory Suites could provide additional revenue streams for investors.
- Technological Integration: Incorporating smart home technologies and eco-friendly practices can attract tech-savvy residents who prioritize sustainability and innovation in their living spaces.
4. Threats
- Economic Factors: Any downturn in the economy or changes in government policies affecting property ownership could negatively impact sales and rental rates.
- Competition: The increasing number of luxury developments in Kuala Lumpur could intensify competition, leading to potential price wars or reduced occupancy rates if not managed effectively.
Analysis of the Sub-Sale Market
1. Transaction Prices
In the sub-sale market, transaction prices for properties at Victory Suites have shown resilience and growth over recent years:
- Price Range: The transaction prices for units in Victory Suites vary significantly based on size, floor level, and layout. Generally, these prices range from approximately RM 1,081,000 for smaller units (around 560 sq. ft.) to RM 4,746,000 for larger units (up to 2,455 sq. ft.).
- Average Price per Square Foot: The average price per square foot for Victory Suites tends to fall between RM 1,800 to RM 2,000, depending on the specifics of the unit. This pricing is competitive relative to other high-rise developments in the vicinity.
- Price Trends: Over the past few years, the sub-sale prices have appreciated at an average rate of 3% to 5% annually. Factors such as urbanization and increased demand for high-quality living spaces in Kuala Lumpur contribute to this steady growth.
2. Rental Prices
The rental market for Victory Suites has also remained strong, with attractive rates for prospective tenants:
- Average Rental Rates: Units at Victory Suites usually command rental prices ranging from RM 3,000 to RM 8,500 per month. Smaller units (approximately 560 sq. ft.) can be rented for around RM 3,000 to RM 4,500, while larger units (up to 2,455 sq. ft.) may rent for RM 7,000 to RM 8,500.
- Rental Yields: Investors can expect rental yields in the range of 4% to 6%, making it a lucrative option for generating passive income. The combination of high demand and limited supply in a prime location helps sustain these yields effectively.
- Tenant Demographics: The tenant pool primarily consists of young professionals and expatriates attracted by the development’s proximity to business districts and lifestyle amenities. This demographic often seeks fully furnished units with modern conveniences.
| Property | Location | Transaction Price Range | Average Rental Price Range | Amenities |
|---|---|---|---|---|
| Victory Suites | 1020, Jalan Sultan Ismail | RM 1,081,000 – RM 4,746,000 | RM 3,000 – RM 8,500 | Infinity pool, gymnasium, 24-hour security |
| The Face Suites | Jalan Sultan Ismail | RM 1,200,000 – RM 3,000,000 | RM 3,500 – RM 7,500 | Pool, gym, rooftop, and dining facilities |
| Banyan Tree Residence | Near the Petronas Towers | RM 1,800,000 – RM 4,000,000 | RM 4,500 – RM 9,000 | Luxury services, pool, spa, gym |
| Avenue K Residence | Adjacent to Avenue K Shopping Mall | RM 1,500,000 – RM 3,500,000 | RM 3,200 – RM 6,000 | Pool, fitness center, direct shopping access |
3. Nearby Properties
To provide a comprehensive analysis of Victory Suites in the context of its sub-sale market, it’s essential to compare it with nearby properties:
- The Face Suites:
- Location: Located just a short distance away on Jalan Sultan Ismail.
- Transaction Prices: Units typically range from RM 1.2 million to RM 3 million.
- Average Rental Rates: Rental prices range from RM 3,500 to RM 7,500 per month.
- Amenities: Offers similar amenities including a pool and gym.
- Banyan Tree Residence:
- Location: Positioned close to Victory Suites.
- Transaction Prices: Units generally transact between RM 1.8 million to RM 4 million.
- Average Rental Rates: Monthly rentals range from RM 4,500 to RM 9,000.
- Unique Selling Points: High-end luxury services and facilities.
- Avenue K Residence:
- Location: Adjacent to the shopping complex Avenue K.
- Transaction Prices: Prices range from RM 1.5 million to RM 3.5 million.
- Average Rental Rates: Rentals are between RM 3,200 and RM 6,000 per month.
- Accessibility: Offers direct access to public transport and shopping facilities.
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