Hi I am interested in buying a condo at panorama KLCC for investment purposes. I would like to seek sifu's opinion on whether this is worthy or not.

It is located at the centre so location wise no question about it. The building quality is good. It is old, yet spacious, and price wise it's much cheaper than a lot of new development.

What I really worried is its rental prospects. Currently it might still be OK, though among the competition of all the Hampshire projects.

but I am really worried the new developments in the area :

- Star residence - over 1100 units

- Mews just completed, and just around mews two new projects under construction. One is isola @klcc, another one is a 30 stories with 130 units

- Ibis hotel service apartment, and Royce residence near ibis hotel

- Proposed regent residence around avenue k, and 2 30 stories apartments proposed along Jalan mayang, though the land is tiny

Now we come to the other side of Jalan Ampang, we have:

- So sofitel residence with estimated over 500 units and its sister jameriah Residences (how many?)

- Fairmont Hotel and residence just nearby the twin tower and four seasons hotel

- And I believe close to Troika they will also build some service apartment there in front of klcc Park.

So just with 0.5km from twin tower I estimate that at least 2000 new units will come to the market in the next a few years

So this is really scary as whether we have enough tenants to take all these high end condos.

If rental market is not promising then we dare not to invest as We need rental income to help pay down the loan.

Can anyone offer your opinion on this? Is it worth?

Ps.

I do not mention about the other construction around stonor area, around pavilion area, and around trx area.

In addition, with mrt completion we expect people to choose places away from the centre as they are more affordable and offer better life quality.