Mayfair, Sri Hartamas

Mayfair is another studio serviced apartment located within Plaza Damas vicinity. It was developed by the infamous Mayland, a developer based in Hong Kong that has also developed numerous developments medium to high end residential, as well as commercial developments. Its residential projects include Dorchester, Sri Putramas I, and Waldorf Tower. It is also the same developer for Sri Hartamas Shopping Center.

Mayfair is one of the favorites residential for expatriates and long-term business persons. Most residents take advantage of its positioning in Plaza Damas vicinity which residents can walk to office. Not only that, it is also a great residential for Taylor’s student as the college is just located within short walking distance. Not only that, residents are catered with numerous amenities available as Sri Hartamas Shopping Center offers several options of eateries as well as housing fashion boutiques, health and beauty products, electronic stores, lifestyle sores and supermarket. Other condominiums in Sri Hartamas include Chelsea and The Signature .

There are several route options to access Sri Hartamas. It is linked to the city center and Damansara Heights via Jalan Duta and Sprint highway. Also, you can utilize Penchala Link to access Bandar Utama, Taman Tun Dr Ismail and Damansara. You should expect about 15 minutes to reach the city center and about 10 minutes to reach Damansara Heights. PLUS highway is also not far away, and the highway can lead motorists to the north region. Mayfair is also considered one of the best condos in Sri Hartamas.

Property Details

• Name: Mayfair
• Address: Jalan Sri Hartamas 1, 50480 Kuala Lumpur
• Developer: Mayland
• Completion Date: March 2003
• Type: Serviced Residence
• No. of Blocks: 1
• No. of Units: 265
• Maintenance Fee: RM0.30 psf
• Built-up: 410 – 870 sf

Facilities

• Gymnasium
• Swimming pool
• 24-hour security
• Children’s entertainment

Analysis

Mayland is well-known for its bad workmanship for most of its developments but these exclude Mayfair. It is well-built and was delivered on-time. Perhaps, this is due to its location within exclusive enclave of Sri Hartamas and located adjacent to Sri Hartamas Shopping Center which is another project developed by Mayland.

Most of Mayfair unit does not come with any designated parking space as the option depends on the initial owner. The alternative available for residents is to park their car in Sri Hartamas Shopping Center or Plaza Damas. The surrounding area of Mayfair is busy and crowded during daytime, due to the commercial activities at Plaza Damas, as well as being too close to Hartamas Shopping Center. The situation is worsened during weekends. But you will find it peaceful on the night time.

Mayfair is a good investment option for you as it offers among the best rental yield in town which is around 8%. Nowadays, there are huge demands for studios. The demands are not only for Mayfair and other Sri Hartamas studios, but for studios in other areas too. For example, Amcorp Mall and Maytower enjoys up to 9% of rental yields.

For the mean time, studio and 1-room apartment are niche market, yet to be discovered and commercialized by developers. In a number of years, there will be a number of studios and 1-room apartment will hit the Sri Hartamas and Mont Kiara studio market that includes VERVE Suites, Tiffani Kiara, Solaris Dutamas and Plaza Damas 3. With additional supplies of studios, it is unlikely for owners to enjoy much rental yield like before.

Take note that even there will be high competition of studios in the area, each has slightly different target segment depending on its size, as Mayfair and Dorchester cater to singles due to its very small studio units ranging from 400 to 600 sf, and VERVE Suites and One Kiara cater singles and newly married couples being measure from 600 to 800 sf. Mayfair was priced RM400 psf back then in 2006, and now priced at RM500 psf. Its price tends to move similar to Dorchester as both feature similar designs and facilities as well as located within Plaza Damas vicinity.

Investing in Mayfair is a good decision during today’s hard time. It is proven to deliver high rental yield and most initial and secondary market investors have enjoy the profit gained from their investment. Even though the transacted price has escalated very high, but there is still some room for its price to hike due to higher price are tagged on new studio developments in the area. But don’t expect much on this, as increase in supplies would definitely affect the price negatively as potential buyers will prefer newly developed ones to get the fresh feel.