When Life Gives You Lemons, Make Lemonade 😜😏👍👌
Last month I nearly fell off my chair in Penang when my experienced property agent in KL of 10+ years told me over WhatsApp that my Jewel In The Crown investment property - a 3000+ sf freehold 4 bedroom unit at Kirana Residence @ 7 Jalan Pinang Kuala Lumpur nwas worth between 10 - 20% more than I paid for it in 2000.
Yes, folks in 25+ years, believe it or not, my Luxury KLCC Condominium unit was (according to my property agent) was worth RM 600:- 700 psf
Meanwhile at my next door neighbour Marc Residence @3 Jalan Pinang Kuala Lumpur a 3122=f unit was transacted at RM1100 psf in January 2025 according to my new best friend, Gemini AI
For a moment I was sunk in despair. 😥🙁😔🥺😢😭. A cloud of gloom descended.
Then I remembered who I was : that I had a MBA in zFinance, had worked at #CLSA as an investment analyst and knew how to use AI. Suddenly the clouds of doom and gloom disappeared .😁😉😘😍
I said to myself. Go to KL and find out why are Kirana Residence units- described by the #1 Malaysian property portal PropertyGuru as the quintessential Luxury KL condominium (“precise definition of a luxury condominium. Everything you need for a modern lifestyle is a hop, skip and a jump from your doorstep “) be worth less than RM1000 psf.
So I packed my rucksack and booked the next flight on Batik Air to KL.
I started by asking myself“Why is a high density property project like Marc Residence WORTH DOUBLE.that of its next door neighbour Kirana Residence”
Marc Residence has :
less privacy. Marc has 666 units versus Kirana’s 66 units
interior finishes and fittings that I think but cannot be 100% sure are less luxurious ( Marc Residence has homogeneous tiles in bathrooms instead of Kirana’s marble tiles, no built in wardrobes in all bedrooms, no ceiling to floor French doors, no big wrap around balconies that keep out the heat, less premium brands in fittings(Marc Residence has Toto vs Kirana’s Hans Grohe and Kaldewai
lower ceiling height than Kirana’s 13 ft
no access to the rooftop
no facilities like a private dining area , cooking prep area with a fridge, hob and water filter, no outdoor cabana where residents can enjoy cocktails while watching the sun set
no Sky Bridge access to Ascott KL hotel facilities eg a spa, a gym, outdoor jacuzzi, rooftop pool with views of both the KL Tower and Petronas Twin Towers ( a Kirana X Factor)
no graceful curving balconies that wrap around 120 to 270 degrees that allow residents to put up chairs and watch the world go by. https://vimeo.com/279636290 (a Kirana X Factor)
Main pool with sun loungers that are 25 years old. Sun lounger cushions are regularly replaced.
Side view of cabana overlooking tennis court. Residents can book the tennis court managed by Ascott
Children’s pool
Main pool, facing next door neighbour Marc Residence
Main pool with sun loungers
Main sitting out area with sofas and coffe tables . Not a piece of rubbish on the floors thanks to professional property management 👌👍
Sofas and arm chairs
Kitchen prep area equipped with water cooler, oven and tap
Dining facilities for 12 . 👍👍🥰
The outdoor cabana equipped with a fridge and mixer tap. Residents can sit on the stools while enjoying cocktails in the evenings
Even the toilets are clean !
The toilets were upgraded in Phase 3 under the current KMC chairman Howard Ong
When I got to KL, I discovered to my chagrin that in 2024 there was a property price transaction at Kirana Residence even lower than what my agent told me.
It was a two bedroom Kirana Residence unit transacted at RM1,3m. Or RM542 psf. That is EVEN LOWER than the auction price of a 4 bedroom unit in 2022 at about RM650 psf,
I turned to AI Gemini again.
This time, I was going to get the AI to generate a Current Market Analysis for Kirana Residence, get its USPs and X Factor , compare range of facilities, floor plans, year launched , WalkScore and average recent property price transaction in psf, to finally calculate the Price to Walkscore index for each condo. See the 15 page “Kirana Residence: A Comprehensive Market And Value Analysis In KLCC Luxury Condominium Landscape “
https://docs.google.com/document/d/1pDVR2o62fil0RXd8GjLKIV8HbVqFgUBwo2nc-ypB0vA/edit?usp=drivesdk
If I had not discovered the 2024 transaction of the Kirana two bedroom unit at RM542 psf, I think I probably would not have the MOTIVATION to learn how to use AI and find a way to rank Kirana Residence the #1 in Price to WalkScore,😜🤪😏👌
Sometimes life hands you lemons. Don’t despair. Why not make lemonade instead?
And that in a nutshell , folks, is how I learnt to use AI to get a Market and Value Analysis for my KLCC Luxury Condominium.
🙏
Disclaimer
Gemini AI uses internet sources that might contain errors
