Petaling Street

Petaling Street is a world renowned street in the KL city centre. It is also known as Kuala Lumpur Chinatown among foreigners and PS among locals. It is situated adjacent to Jalan Bandar and Jalan Sultan. It is infamous for pirated clothes, accessories, DVDs, and CDs. Petaling Street is also famous for its food stalls and restaurants as it serves local favorites delicacies such as asam laksa, curry noodles and Hokkien mee. There is also a McDonald's located on the 1st shop lot of Petaling Street. There are a number of hotels (mostly 3-star hotels and hostels) residing in the area, namely Hotel Malaya, Swiss Inn Hotel, Wheelers Guest House, Backpackers Travellers Inn and Stayorange Hotel. In addition, there is Sri Mahamariamman Temple, one of the oldest and richest Hindu temples in Kuala Lumpur located along Jalan Tun H.S. Lee, adjacent to Petaling Street. Kwong Siew Chinese Temple and Masjid Jamek are also within close proximity from the street.Accessibility wise, Petaling Street is reachable by LRT and Monorail, as there are Plaza Rakyat LRT station, Pasar Seni LRT station and Maharajalela Monorail station located mere minutes of walking from Petaling Street. It is easily accessible via Jalan Bukit Bintant, Jalan Pudu and Jalan Tun Sambanthan. It is only minutes away from Bukit Bintang, and KLCC, where plenty of amenities can be found.

Property Details

Name: Petaling Street

Address: Jalan Petaling

Tenure: Freehold

Type: Commercial

Built-up: From 1,800 sf

Subsale Price:

Rental:

Analysis

According to a report by KGV-Lambert Smith Hampton (M) Sdn Bhd, property values in this area will continue to appreciate due to its location and demand for retail and accommodation. Due to the huge demands by tourists, room rentals have skyrocketed, which resulted shop lot rentals and sales to increase as well. In terms of pricing, the price depends on what street the shop lot is located. If the unit is located at the 2-storey pre-war building along Jalan Petaling, the price would be around RM2.8 million to RM3.2 million for built-up size of 1,800 sf to 2,400 sf. Meanwhile, other units at neighboring roads are about RM1,000 psf. Tourists should be careful when shopping around Petaling Street, as there are a number of pickpockets hovering around. As the road is crowded at most times, you have to be aware of your belongings whenever somebody is near to you. Nonetheless, Petaling Street is a bustling market that serves as a bargain hunter's paradise. It is loved by the foreign tourists as well as locals. Hence, if your product is a bargain item or Malaysian handicraft, Petaling Street would definitely welcome you.

Links

http://en.wikipedia.org/wiki/Petaling_Street