Property Review for Lakeville Residence, Taman Wahyu

What you see is almost what you get in Lakeville Residence

It’ not just about a lake, but it’s about living a perfect life as well. Introducing Lakeville Residence, an integrated development comprising of lifestyle shops and serviced apartments, that’s located along Taman Wahyu’s lakeside at the tip of Kuala Lumpur. Every unit at Lakeville Residence is designed to be a spacious Semi-D apartment with a breath-taking mountain or lake view. And having one of the largest facilities podiums in KL means that living at Lakeville has an added value into it. So, whether it is taking a stroll around the scenic lake or just chilling out in its massive dedicated central deck, you will never again feel lifeless in this magnificent adobe by the lake. But what really makes Lakeville a dream home come true is its close proximity to KL and PJ. So, if you are planning to stay near the city centre with a scintillating panoramic view, this might just be the right place for you.

Developers Details

Beautiful top-down impression of Mah Sing’s Icon Residence

Mah Sing, as we all have endeared for their impressive Icon City and Southville City developments, have yet again induced us with another amazing project of theirs, namely Lakeville Residence. Being one of the leading property developers in the country with over 20 years’ track record of delivering prime residential, retail, commercial and industrial projects, they are fully committed in delivering not only a luxurious place to live, but also at an affordable price as well. With Lakeville Residence in their mind, they hope to emulate an environment where their buyers and nature can co-exist in harmony. Unobstructed lake and mountain views are something they promise in this project, along with a chance to be with nature. In future, Mah Sing also promises to deliver more projects that cater to a diverse range of market segments so that everyone can find an affordable and stylish place to stay. A trustworthy and award winning property developer, you can trust them to deliver yet another quality homestay at Lakeville Residence.

Developer Name: Enchanting Heights Sdn. Bhd (a subsidiary of Mah Sing Group Berhad)

Previous Projects: One Lagenda, Icon Residence, M Suites, Star Avenue, StarParc Point

Notable / Current Projects: Southville City, M City, Lakeville Residences, D’Sara Sentral, Icon City, M Residence 2, The Loft @ Southbay City, The Meridin, Sutera Avenue

Past Achievements & Awards: Asia Best COS 2014 Lores, Asia Pacific Property Awards (APPA) Best high rise architecture for M-City, Asia HRD Awards 2014, Asia Responsible Entrepreneur Awards 2014- South East Asia for investing in people, BCI Asia and the Top 10 developer award 2014

Project Details

QuickPro No	: UP3330063
Address	: Jalan Sibu, Taman Wahyu, Kuala Lumpur
Property Type	: Condominium
Land Title	: Strata
Tenure	: Leasehold
Bumi Discounts	: 10%
Sales Gallery	: Wisma Mah Sing, Penthouse Suite 1,
	No. 163, Jalan Sungai Besi, 57100 Kuala Lumpur
Site GPS Coordinates	:
Website	: http://lakeville-residence.com.my
Expected Completion Date	: 2018
Total Units	: 1,866 units
Built-Up Area	: 12.38 acres
Facilities & Amenities	:
Listing Price	: RM649,000 – RM1,000,000
Price per Sq.Ft.	:
Maintenance Fee per Sq.Ft.	: RM0.33 (inclusive of sinking funds)
Parking Bay per Unit	: 2 units
Special Features	: Beautiful lake and mountain views, convenient lifestyle shops at your
	doorsteps, easily accessible via MRR2 & DUKE Highway, proposed link road
	to Jalan Kepong Lama & Tesco, 80% furnished units

Development Type:

• Parcel A: Serviced Residence
• Parcel B: Serviced Residence
• Parcel C: Serviced Residence
• Parcel D: Serviced Residence
• Parcel E: Serviced Residence
• Parcel F: Serviced Residence
• Parcel G: Lifestyle Shoplots

Unit Type:

• Type A1 (976 sq.ft)
• Type A1a (976 sq.ft)
• Type A2 (1,071 sq.ft)
• Type A2a (1,069 sq.ft)
• Type A3 (1,227 sq.ft)
• Type A3A (977 sq.ft)
• Type A3Aa (977 sq.ft)
• Type A5 (1,193 sq.ft)
• Type A5a (1,195 sq.ft)
• Type B1 (1,230 sq.ft)
• Type B2 (1,239 sq.ft)
• Type B3 (1,249 sq.ft)
• Type B3A (1,234 sq.ft)
• Type B5 (1,350 sq.ft)
• Type B6 (1,359 sq.ft)
• Type B7 (1,365 sq.ft)
• Type B9 (1,329 sq.ft)
• Type B10 (1,327 sq.ft)
• Type B11 (1,336 sq.ft)
• Type B12 (1,345 sq.ft)

Pricing Analysis

Name	Land Title	Price per Sq.Ft.	Maintenance Fee Sq.Ft.	Car Park Bays
Lakeville Residence (Mah Sing)	Leasehold	RM650	RM0.33	2 units
Eco Sky (Eco World)	Freehold	RM720	RM0.44	1 – 2 units
Kiara East DEX (SBC Corp)	Leasehold	RM620	RM0.275	1 – 2 units

Lakeville Residence certainly does not have a very cheap service apartment. However, bear in mind that Mah Sing has included an almost complete furnishing for each of its residences. So, RM600,000 for an entry level unit with a built up area of 976 sf seems like a pretty fair deal to me. Mind you, Mah Sing is also a very prestigious developer that has just recently won the developer of the year award at iProperty.com People Choice Awards, so don’t be surprised if you are charged with a premium for their projects. And with Jalan Sibu being so close to Kepong and Kuala Lumpur, the current price per sf of RM600 –RM700 might just be fairly justifiable.

Final Analysis

A modern apartment with beautiful natural sceneries, Lakeville Residence will fancy those who are looking a quiet and peaceful place to stay. Along with its close proximity to major townships and cities, you will find shopping and travelling a huge convenience when staying in its neighbourhood. Getting in and out of the residences will also be relatively easy too, due to the fact that it is very accessible via major highways and public transportations.

There is a problem though with the traffic, as Jalan Kuching and Ipoh are always busy and congested. In fact, the condition might become even worse when more people move into the surrounding new developments in the future. Having said that, the starting price of RM600,000 for an entry level unit also did not do justice for this project, especially when there’s a total of 1,800 units of service apartments included. Besides, you should also be aware that an additional premium of RM30,000 – RM45,000 must also be paid if you want to enjoy its mountain views. All and all, you really have to ask yourself whether the apartment is really worth purchasing or not. But considering the fact that it has great location, accessibility and high quality furnishes, it might not be so bad after all.  

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