222 Residensi, Setapak Insights

Standing tall at 28 storeys in Setapak, Kuala Lumpur, 222 Residency is KP Property Sdn Bhd’s maiden development. The company built its reputation as the project contractor for upmarket developments like St Mary Residences, Dua Residency and Lumina Kiara. Similarly, 222 Residency boasts a modern and upscale design with high quality building materials. Completed in 2013, the freehold condominium features 222 units, as the name denotes, and an additional commercial component on the lower level for the convenience of its occupants. A host of facilities are provided on the 8th floor podium. The single block development with an average of 12 units per floor is served by three lifts. There are six types of layouts to tailor to different types of buyers. **##Location##** Located off Jalan Gombak, the development is served by an array of amenities, including from commercial centres such as Setapak Sentral and Diamond Square. There is no shortage of eateries ranging from popular fast food to local fare. There are various schools nearby such as SJK (C) Chung Hwa, SK Setapak Jaya, SK Setapak and tertiary educational institutions such as TAR College, UTAR and International Islamic University Malaysia. Travelling is convenient with a comprehensive network of connections to the city centre such as DUKE Highway, Sentul Link and Middle Ring Road 2 via Jalan Genting Klang. Residents opting for public transportation will be pleased to know there are several stations within 1km distance such as the Sentul Timur LRT, Sentul LRT, Titiwangsa Monorail and Sentul KTM. **##Analysis##** Setapak has welcomed many new developments over the past few years, changing the laid-back landscape to a more vibrant town. Jumping on the bandwagon, KP Property saw the need for more accommodations tailored to the influx of population wanting to buy into modern lifestyles at affordable prices. Although initially targeted at first-time homeowners, prospective parents and large families, 222 Residency has eventually attracted a significant number of students, especially from UTAR and TAR. Its proximity to the city centre has also led many executives to make this place their home. Although initially targeted at first-time homeowners, prospective parents and large families, 222 Residency has eventually attracted a significant number of students, especially from UTAR and TAR. Its proximity to the city centre has also led many executives to make this place their home. As at end-2016, a secondary unit here is pegged around RM500,000 onwards for a 1,102 sq ft unit. Rental starts from RM1.77 psf for a smaller unit, which translates to RM1,600 for a 904 sq ft unit. This spells a good investment for those seeking recurring passive income.