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What come into your mind when you heard of dual key home?
2 Units in 1 Layout?
1 house 2 separate doors entrance?
Double rental income?
Above is some of the common reply when asking about what is dual key?. However, the simplest way to explain dual key home is that you buy 1 property with 2 units sharing a single entrance/hallway or foyer access to two separate main doors with its own living room, bedrooms and some even come with kitchen under one address. The main unit usually has bigger built up area whilst the other unit/studio unit is much smaller in size.
Dual key living concept has long existed for decades in places such as Sweden, Japan, Australia and the United States. In Malaysia, dual key units were first introduced by Wing Tai in its Verticas Residensi in the Kuala Lumpur city center near KLCC in 2011. Soon after, this housing format took off when owners and investors realized the potential for making good returns with dual key concept living.
KLCC Dual Key Designer Suites
Gain dual-income, dual return benefit with The Luxe by Infinitum Dual-Key Designer Suite. Great opportunity for investors who are looking for a Kuala Lumpur city centre (KLCC) address – without paying for the prime golden triangle price tag!
Popular Usage of Dual Key Home
With 2 units in a single property. There are endless configuration for home owners and investors to utilize the advantage for living arrangement in their dual key home. Here's a few popular example.
Savvy Investor
The Investor
Rent out two units separately and generate double income.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Tenant: Single/ Young Couple. | Tenant: family with more members. |
Suitable for: Working Professional/ Newly Wed Couple | Suitable for: Family with childrens or family staying with Parents. |
Multi-Generational
The 3G Family
3 Generation under 1 roof. Family with children stay in a larger unit while elderly parents stay in studio unit. Both enjoys privacy and togetherness.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Owner: Elderly parents. | Owner: single/couple/family with kids Owner |
Suitable for: Elderly parents. | Suitable for: Couple or Family with kids |
Own Stay
The Single
Owner: Owner likes the location or amenities nearby and occupied the whole unit for own stay. Suitable for newly wed couple or young family with young children.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Owner: Use as Master bedroom. | Owner: use as living room and bedrooms for children (if any). |
Young Investor
The Working Professional
Own stay in a unit and rent out another unit for extra income.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Owner: Single/ Young Couple. | Tenant: family with more members. |
Suitable for: Working Professional/ Newly Wed Couple | Suitable for: Family with childrens or family staying with Parents. |
Growing Family
The Loving Parent
Initially rent out studio unit to other and later for own use when the family tree grows.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Tenant: At First- Rent out to Single/ Young Couple. Owner: Later - For own use when the family tree grows. | Owner: Small family |
Suitable for: Working professional/ newly wed couple with young kid. | Suitable for: Owner Kids stay or owner occupied. |
SOHO
The Workaholic
Owner: freelancer or small business owner can setup office to work at home. Set up an office in larger unit and use the studio for own stay.
* This usage is depend on JMB guideline.
Studio Unit | Other Unit with 1 - 3 bedrooms |
|---|---|
Owner: Own stay. | Owner: setup a small office and home office. |
Trion @ KL - Practical Dual Key Layout
Located near the Bandar Malaysia, Trion @ KL consists of serviced apartments, a retail component and 4 Stars Hotel - Price start from RM700 psf.
The Dual Key Origin Idea is to Cater for Multi-Generational
The origin idea of dual key concept home is to cater for multi-generational living, as the married couple need privacy, or grandparents could have. Both enjoys privacy and togetherness. One could think of that you can still enjoy the home cook meal from your parents staying just next door.
A perfect settings with husband or wife parents are still within the unit area.
However, the dual key concept home can be owned for investment, with the flexibility that allows buyers to be able to rent out the studio unit when the buyer has a small family, then for own use when the family tree grows.
For pure investment purpose, you can rent both units out for higher yield or return on investment.
With more and more demand in the market for dual key home among property hunters, more and more developer are jumping into the bandwagon to offer this niche type. Here are some of the incoming supplies of dual key units available to to buy in Klang Valley.
- 1The Luxe by Infinitum @ KLCC (Cheapest psf in KLCC, RM1200 psf onward)
- 2Sky Setia Condominium @ KLCC
- 3Oxley Tower @ KLCC
- 4Trion@KL, Chan Sow Lin (Sold 600 units in 3 months)
- 5The ExpressionZ Professional Suite @ Jln Tun Razak
- 6Neu Suites, 3rdNvenue @ Ampang
- 78th and stellar @ Sri Petaling
- 8Amani Residence @ Puchong
- 9Epic Residence @ Puchong
- 10The Estate @ Bangsar South
- 11Cubic Botanical @ Bangsar South
- 12Sunway Mont @ Mont Kiara
- 13COMO @ Bukit Jalil
- 14Sunway Serene @ Petaling Jaya
- 15Tria @ Seputeh
- 16Greenfield Residence @ Bandar Sunway
- 17and many more ...
The Luxe by Infinitum, Dual Key Designer Suite
Dual Key Investment Perspective
No doubt that dual key units can fetch higher rental income than a normal unit of similar size. The flexibility of dual key to rent out both units for short term or long term yield a higher rental return.
Alternatively, owner can choose to rent out one unit and another unit for own stay. Irregardless of which way you choose, it is surely a great investment choice to maximize rental income.
Now, let's do a case study on how this can be achieve in a most sought after location in Malaysia, KLCC properties.
CASE STUDY: THE LUXE BY INFINITUM @ KLCC
The Luxe by Infinitum: 725 sq.ft with 2 bedrooms and 2 bathrooms
Rental Income Scenario 1
Long Term Rent | |
Subject Property | The Luxe by Infinitum @ KLCC |
Built Up | 725 sq.ft |
Price | RM9XX,XXX |
Monthly Installment (Assume 90% Loan, 30 Years, 4.5% interest) | RM4,XXX |
Tenant 1 (Studio) - rental per month | RM2,000 |
Tenant 2 (1 Bedroom) - rental per month * Rental rate are based on nearest condo rate with similar layout | RM2,500 |
Total Rental | RM4,500 |
Rental Yield | 5.5%~6% |
Rental Income Scenario 2
Short Term / Daily Rent (Profit Sharing with Airbnb Operator) | |
Subject Property | The Luxe by Infinitum @ KLCC |
Built Up | 725 sq.ft |
Price | RM9XX,XXX |
Monthly Installment (Assume 90% Loan, 30 Years, 4.5% interest) | RM4,XXX |
Studio Unit - room rate per day | RM200 |
1 Bedroom Unit | RM250 |
Total Rental (RM450 x 30 days) | RM13,500 |
Average Occupancy Rate - 70% | RM9,450 |
Profit sharing with Airbnb Operator - 70% | RM6,616 per month |
Rental Yield | 8% ~ 8.5% |
Conclusion:
Based on the case study, it is possible to generate good healthy rental income to cover your installment and maximize your rental return.
However, please be mindful that there are few factors that still matter more, such as the property location (eg: near to city center), the area is it in an area with high rental demand, whether its near to key amenities like shopping mall or university.
Not forgetting about public transport such as Monorail, LRT or MRT and lastly how rental yield of similar properties in the area compare.
Given the subject property that matched all the factors mentioned. It is an ideal choice to own a dual key unit.
KLCC Dual Key Designer Suites
Gain dual-income, dual return benefit with The Luxe by Infinitum Dual-Key Designer Suite. Great opportunity for investors who are looking for a Kuala Lumpur city centre (KLCC) address – without paying for the prime golden triangle price tag!
DUAL KEY PROPERTY
As we know, a coin has 2 sides; ABC also has both pros and cons. Let's look at the pros and cons of dual key unit.
Pros
Cons
Ultimately, whether you like it or not, dual key units will still remain a popular choice among home buyers for the privacy and flexibility it offers. With sky-high property prices nowadays, essentially, home owners turn to dual key condos for living and rental.
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