Madge Residences

Madge Residences is a freehold, exclusive and low density condominium located along Jalan Madge in Embassy Row (Ampang Hilir). It comprises of only 14 condominium units in 4 1/2 floors. Each unit at Madge Residences consists of private lift, lobby and garden. It is located next to Desa Palma and also neighboring Lanson Place, Chinese Embassy, The Madge, 9 Madge, Myanmar Embassy and Embassy of North Korea. Madge Residences was completed in 2007. Plenty of amenities can be found in the area. Just within walking distance from Madge Residences, one can walk to Hock Choon Supermarket and AmpWalk shopping centre. Besides that, one can also find other shopping centres within short driving distance that include Great Eastern Mall, Suria KLCC, Pavilion, Times Square, Lot 10 and Ampang Point. Some restaurants are within walking distance as well, including Victoria Station, Roadhouse Grill, Bombay Palace, Bangles Restaurant, Tsuruya Japanese and Royal China Restaurant. There are quite a number of education centers nearby Madge Residences, namely Sayfol International, Fairview International, SMK Sri Ampang, SMK (P) Puteri Ampang, SJK (C) Ching Hwa, Goethe Institute and SJK Datok Keramat. Furthermore, for sports enthusiast, there are KLCC Park, Raintree Club, Selangor Polo and Equestrian Club, and the Royal Selangor Golf Club located few kilometres away. It is also close to Gleneagles Intan Medical Centre.

Property Details

Name: Madge Residences

Address: Jalan Madge, Ampang Hilir, Kuala Lumpur

Type: Condominium

Tenure: Freehold

No. of Blocks: 3

No. of Storey: 4.5

No. of Units: 21

Built-up: 6550 sf

Subsale Price:

Rental:

Facilities

Barbecue area

Club house

Covered parking

Gymnasium

Playground

Swimming pool

Wading pool

24-hour security

Market Trends

Analysis

As Madge Residences is only a 4 1/2 storey condominium, no unit can enjoy fascinating view of the Kuala Lumpur skyline and KLCC. The residential is surrounded by low-rise apartments and bungalows. Its next-door neighbours are Desa Palma, The Madge and a mansion owned by Sunway Group's tycoon, which are all about 4-storey high. There are several on-going developments in the area, mostly are high-rise condominiums. The nearest on-going construction to Madge Residences is Gallery U-Thant, which comprises of 50 units in a 10-storey apartment building, scheduled to be completed in 2010. Besides that, other on-going developments are Katana II, Iringan Hijau, and Brunsfield Residence. Due to the construction works, residents have to bear the noise and air pollution from these developments. In terms of competition, the number of competitors seems to increase every year. Ampang Hilir enclave has evolved dramatically in recent years. A lot of new modern and exclusive apartments can be found these days and yet several more to come in near future. Most of the new residential developments here are priced at the highest price in the market, beating Mont Kiara and KLCC vicinities, above RM1,000 psf up to RM3,000 psf. New condominiums in the enclave are Seri Hening Residence, The Katana Residences, U-Thant Residence, Mei On The Madge and Mutiara Upper East. Even though the competition here is very high, but it seems that most residential are doing good and preferred than KLCC's residential as most condominiums here are low density developments while most condominiums in KLCC are high-rise and have more units. Investment wise, Madge Residences comprises of only very large built-ups which are less preferred for rental. Its price tag is also very high, around RM6 million, which limits the target buyer groups and most of these potential buyers might prefer to opt for landed bungalows in nearby areas.