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Malaysia offers plenty of options when it comes to renting apartments. Condominiums and serviced apartments are highly sought after by first-time home buyers and urban renters, who are attracted to the prospect of living in a fully-furnished building with excellent facilities. Although these two residential properties may seem similar at first glance, there are significant differences between them that are worth noting.

What is a Condominium?

Condominiums are multi-story residential buildings constructed on residential titled land, providing more amenities than basic apartments. The units within a condominium are owned by separate individuals who benefit from round-the-clock security and at least one designated parking space. It is a popular choice among families seeking privacy and security, while still enjoying a sense of community through non-exclusive common facilities. These facilities may include exercise yards, terrace gardens, swimming pools, recreation rooms, gyms, playgrounds, and parking spaces.

What is a Service Apartment?

If convenience is a top priority for you, such as easy access to malls, restaurants, and public transportation, then a serviced apartment could be an excellent fit. Keep in mind, however, that not all serviced apartments are available for purchase by the public. Some are owned by a single corporation that manages the property either on behalf of property investors or the developer.

What’s the difference between Condominium and Serviced Apartment?

1. Land title

Condos have a "residential-titled" land status such as Bukit Jalil Condominium and The Era, Duta North. Meanwhile serviced apartments have a "commercial-titled" land status such as Tower B, The Scott Garden SOHO. This distinction results in significant differences in laws, tax rates, and functions between the two. However, there are some exceptions to serviced apartments being commercial-titled. If the residential component of a mixed development is entirely separate from the commercial component, the developer can apply for the serviced apartment to have a residential title.

2. Utility Charge

Residing in a serviced apartment would lead to higher utility bills compared to living in a condominium due to the commercial rates for utilities that serviced apartments follow. While condos fall under Tariff A - Domestic Tariff as private residential spaces, serviced apartments are considered as low-voltage commercial buildings and thus fall under Tariff B - Low Voltage Commercial Tariff.

3. Living Environment

Serviced apartments are often attached to shopping malls or retail shops, allowing unrestricted access to outsiders. However, residents usually have separate entry points for privacy. Condo residents, on the other hand, have more control over their property's use since they are specifically for residential purposes. Additionally, serviced unit residents have easy access to amenities like restaurants, convenience stores, and movie theatres, while condos may not offer such conveniences.

4. Population density

Condominiums and Serviced Apartments differ in their approach to development: while condos are built based on population density, serviced apartments are built based on plot ratio, allowing developers to maximise the allowable number of units in a certain space. For instance, a plot ratio of 1:4 would permit a developer to construct up to 240 units on a 1-acre land, each sized at 725 square feet. This means that serviced apartments tend to have a higher population density than condos, resulting in less space and comfort for residents.

Although there are differences between condominiums and serviced apartments, rental rates in Malaysia are not significantly different between the two. Instead, the rates depend on factors such as the number of amenities offered, location, and exclusivity. Serviced apartments with additional services will have higher rental rates, while those without such amenities will have lower rates. Additionally, a condominium's rental price will vary based on its location, with those situated in the heart of Kuala Lumpur commanding higher rates compared to those in the outskirts.

If you're looking for a rental property that is both affordable and convenient, the BlueDuck Zero Deposit Program might be the perfect option for you. This innovative program allows you to rent either a serviced apartment or a condo without having to pay a security deposit upfront. For more, check out our website!

Cheers,

BlueDuck!

Are you looking for a dream property in Selangor? 

If you're looking for an ideal home in Selangor, you'll be pleased to learn that the property market will soon be enriched with new projects. Here are the top five projects scheduled to open shortly in Selangor, each of which will offer a diverse variety of luxurious living options to fit every lifestyle and income.

1. Tropicana Gardens, Selangor

Tropicana Gardens - Edelweiss SOFO and Serviced Residences is a mixed-use building that provides a modern living as well as easy communication. It is strategically located between Tropicana Indah, an affluent neighbourhood, and the vibrant Kota Damansara, making it simple to access both urban life and business possibilities. For those looking for a vibrant city lifestyle, this luxurious building offers a new variety of contemporary living choices.

The starting price: RM 512,000

2. PSV 1 Residence @ Platinum South Valley

Prepare to enjoy your triumphs in luxury at PSV 1 Residences! Kick back, unwind, and appreciate the benefits of your work in this opulent development after giving it your all on the social and professional fronts. PSV 1 Residences is located in the extremely accessible Platinum South Valley, with convenient access to the MRR2 expressway, Bandar Tasik Selatan LRT Station, and Terminal Bersepadu Selatan (TBS) bus station. You've worked hard to get here, so celebrate your accomplishments and relish the delicious flavour of triumph at PSV 1 Residences!

The Starting price: RM 513,000

3. Curvo Residence

Curvo Residences, a location where wabi-sabi ideology meets the grandeur of time and experience! Every element of this building has been intended to bring art and style into your house, from the gorgeously designed façade to the spectacular outdoor areas.

Curvo Residences is part of the first combined building in the mature yet tranquil Setapak district. With simple access to top-rated schools, medical facilities, retail malls, and transit hubs, you can enjoy the ideal blend of tranquil nature and contemporary ease. Additionally, with KL City Centre only a 5-kilometre journey away, you're never far from the action.

The starting price: RM 564,000

4. Dwitara Residences Tower 2 @ Surya PJ South

PJ South's first residential building! This magnificent enclave offers elevated semi-detached and bungalow plans varying in size from 847 sq.ft to 1,236 sq.ft, making it ideal for people, expanding families, and intergenerational living. Each unit includes two parking spaces as well as over 30 specifically built amenities for residents only. You'll enjoy returning home to this haven of luxury and efficiency.

Surya PJ South is a new township that blends a lively business centre with contemporary residences. The design idea stresses common areas and public design to encourage social contact, while homes are specially intended for multigenerational living, with future plans for lush greenery in the master development. Don't miss out on this exciting opportunity to be part of this thriving community!

The Starting price: RM399,000

5. The Valley Residences

The Valley Residences, located in the key neighbourhood of Setiawangsa, just 5 kilometres from Kuala Lumpur City Centre, provides the ideal mix of ease, connectedness, and stunning vistas of the city and mountain range. It's a sought-after haven where you can reside happily and name it home.

Prepare to be caressed by more than 60 enriching facilities distributed across five levels of facility platforms, all intended to rouse every inch of your spirit. You'll feel the soothing atmosphere of this urban haven the moment you walk inside. It's more than just a place to reside - it's a place where you can truly flourish.

The Starting price: RM 508,000

With developers providing attractive perks and competitive pricing for these new properties, the stars are aligned for prospective residents in Selangor. Don't pass up the chance to own a house in 2023!

Cheers,

BlueDuck!

The Exchange 106

Get ready to be blown away by one of the most impressive skyscrapers in Malaysia - The Exchange 106! 

This towering beauty is a commercial wonderland, boasting a mix of office and retail spaces across its staggering 106 floors. And at a height of 492 metres (1,614 feet), it's no wonder it's the second-tallest building in the country!

The Exchange 106 is a remarkable masterpiece created by Mulia Group's brilliant engineers and finished in 2019. It is poised to draw important financial organisations, multinational corporations, and other businesses from around the globe because it is located in the Tun Razak Exchange (TRX), a new 70-acre development in Kuala Lumpur's central business area.

What is the use of Exchange 106?

The Exchange 106 is an office structure with retail space on the lowest five levels (approximately 300,000 square feet). If you're considering renting office space there, you should know that the business level begins on the sixth story. Mulia Property Development has gone above and beyond to make this an opulent office tower, and their leasing rates reflect that - it's RM17 per square foot per month. That's a little high for Malaysia, but you'll be working in one of the world's most distinguished and stylish structures!

Is it ready to rent?

According to Propertyguru, Retail Space and offices are ready for lease. The structure is finished beautifully with the most luxurious materials and is designed with utility and convenience in mind. Each workplace level has been thoughtfully designed for maximum efficiency.

What other cool things about Exchange 106?

Inside The Exchange 106, you'll find some of the most advanced facilities around, including high-speed elevators that will whisk you up to the top in a matter of seconds. And speaking of the top, the building even boasts a helipad for those who prefer to fly in style! But that's not all - there's also a fitness centre and a variety of dining options to keep you fueled and energised. Not only that, the tower will have a sky lobby, however, judging from the render of the sky lobby, it is more likely only open to the tenants, not a normal public observation deck.

If you're searching for cutting-edge technology, The Exchange 106 has you prepared with its Building Management System (BMS) and Integrated Security Management System (ISMS). So, come see for yourself the breathtaking grandeur of The Exchange 106 - you won't be disappointed! Overall, The Exchange 106 is an important landmark in Kuala Lumpur's skyline, and it represents Malaysia's increasing prosperity and growth.

Cheers,

BlueDuck!

Hey there!

Are you a student? Or are you working? 

Are you considering renting your first apartment or house but not sure what to expect from the rental process? Don't worrylah, we've got you covered. In this blog post, we'll go over what the rental process is like for first-time renters, and give you some tips to make it a smooth and stress-free experience.

There are few things to consider before you rent a property:

1. Start by Setting a Budget

Before you start searching for apartments or houses, you need to decide how much money you can spend. This will help you avoid looking at places that you can't afford and save you time. Remember to think about all the costs of renting, such as rent, utilities, and any extra fees or deposits you might have to pay.

2. Search for Rental Listings

Now that you've got a budget, it's time to start searching for your dream rental! There are lots of online platforms you can use like Propertyguru, iProperty, Mudah.my or Edgeprop! You can also reach out to a friendly real estate agent who can help you find a place that suits your needs and budget. So, don't be shy! Get searching and don't hesitate to contact us to know more! 

3. Visit Properties and Apply

Once you find a few properties that you're interested in, schedule a visit to see them in person. If you like what you see, you'll need to fill out an application with agents, provide some basic information such as your contact details, occupation, references and earnest deposit (to reserve the unit, as a show of commitment). To get verified when you use BlueDuck, everything will be done online! 

4. Sign the Lease Agreement

Once your verification is complete, you're almost there! The next step is signing a tenancy agreement. Take your time to read it carefully and don't hesitate to ask any questions that come to mind. The lease will include details like the amount of rent you need to pay, when you can move in, and any rules you need to follow while living there. So, it's essential to make sure you fully understand everything before you sign.

5. Move In and Start Enjoying Your New Place!

Once you sign the agreement, you can finally move in and start making your new place feel like home. Don't forget to set up your utilities, and take care of any move-in requirements like security deposits or initial payments. But guess what? If you use BlueDuck, you won't have to worry about any of that because we've got you covered! We take care of the security deposit for you, so you can just sign the agreement and move right in.

These tips will make you a pro at renting your first apartment or house! So, get ready to put them into action and start your exciting new journey. Good luck, and happy house hunting!

But if you’re interested in knowing about BlueDuck, don’t hesitate to reach out to us! 

Get ready to experience a new level of architectural awe in Kuala Lumpur, Malaysia with the upcoming completion of Merdeka 118, the country's latest skyscraper sensation! 

What’s the hype with Merdeka 118?!

Standing tall at a record-breaking height of 644 metres (2,113 feet), this marvel of modern engineering is poised to become the tallest building in the nation and the third-tallest in the entire world. With its mixed-use space encompassing sleek offices, luxurious hotels, and observation decks, Merdeka 118, also known as Menara Warisan Merdeka is sure to redefine the city's skyline as an iconic symbol of progress, ambition, and innovation.

First in South East Asia to have more than 100 floors!

Just like its name, Merdeka 118 has 118 floors. It's the first building in Southeast Asia to have more than 100 floors. The building is so big that it has 400,000 square metres of space for rent, which is as big as 4,300,000 square feet. 100 floors of the building are available to rent, and 80 of them are for offices. The company that built the building, PNB, will use 60 of the office floors.

Warisan Merdeka Mall

The bottom part of the Merdeka 118 is going to be a big shopping mall called Warisan Merdeka Mall. The top part of the building will be a fancy hotel. It's run by Hyatt Group, which is a famous company that makes fancy hotels. The hotel is called Park Hyatt, and it has 17 floors. On those floors, there are 232 rooms people can stay in. 

According to New Strait Times, PNB Merdeka 118 is now ready for lease. However, it's worth noting that the tower is still undergoing development and upgrading its security measures. The development is focused on offering commercial space for office and retail leasing, with plenty of room available, and it also boasts 8,000 parking spaces. Additionally, it offers high-end hotels for visitors.

What Can we look for in Merdeka 118?

Merdeka 118 promises to be a truly unique and exciting destination for visitors to Kuala Lumpur. The development includes a variety of shops and boutiques, ranging from high-end fashion retailers to unique local artisans. There are also numerous restaurants and cafes, offering everything from casual fare to fine dining. Well, whether you're interested in shopping, dining, or simply enjoying the views, this amazing new development offers all of that!

Cheers,

BlueDuck!

After nearly two years of the global pandemic disrupting economic and social activities, 2023 is expected to be a year of economic recovery, although with some challenges. As international borders reopen and the job market improves, along with increased local demand, economic growth is expected to be positive. 

There are many reasons why people are opting to rent in the current situation:

1. Increased Demand for Affordability

Rising property prices in many urban areas are leading to increased demand for more affordable homes in the secondary market. According to the Edge Market, Selangor's average house price increased from RM204,105 in 2000 to RM 534,846 in 1Q2021, with an average annual change of 4.8%. Double-digit growth was seen in 2010-2013. The highest annual change of 23.11% was in 2015, while 2020 saw only a 3.63% increase.  

2. Growth of the Rental Market

More people are opting for rental properties instead of buying, leading to the growth of the rental market in Malaysia. Siva from The Edge Market mentions that the majority of the population cannot afford houses, so they end up renting. And some become renters for life, which means they were not able to save enough to buy a single property,

3. Rise of Online Real Estate Platforms

The use of online real estate platforms such Propertyguru, iProperty, Edgeprop are increasing with additional features like virtual tour, zero deposit solutions making it easier for landlords and tenants to connect and transact in the secondary market.

4. Emergence of Proptech

Proptech companies in Malaysia, such as iProperty and Propertyguru, which employ technology to improve the real estate experience by linking owners and landlords with buyers and tenants, are expanding. It can provide the much-needed speed and precision for developers, banking institutions, and property investors when valuing their precious assets.

5. The Impact of the Sharing Economy

The sharing economy is expected to continue growing, leading to the development of new models for shared ownership of properties which leads to the rise of co-living or subletting. According to a Malaysia Digital economist, The global impact of the sharing economy will be in the range of USD3.1 trillion with a potential growth rate of 31% according to the study where Malaysia has the potential to see a contribution of up to USD 14 billion to its GDP by 2025. 

It is anticipated that the rental market will continue to be a significant aspect of the real estate industry, providing opportunities for both buyers and sellers to connect and engage in transactions. However, ongoing factors such as rising inflation, an increase in the Overnight Policy Rate (OPR), and affordability issues are expected to weigh on market conditions. As a result, it may take some time before consumers become confident in making large property decisions. 

Cheers,

BlueDuck!