The layout becomes more relevant as work-from-home arrangements drive the need for space and privacy among family members
As the pandemic forces businesses to adopt a work-from-home model, space and privacy become a priority among residents of high-rise units, while investors face rental income disruptions, reported FMT.
Dual-key condos seem to be a win-win scenario for property developers, investors, and homeowners.
Dual-key layouts have been used in the west for decades but have only emerged in Malaysia a decade ago.
The layout has picked up traction in recent years as property developers try to work around oddly shaped pieces of land or limited plot ratios that determine the density of a building.
Dual-key condos offer homeowners two units under one roof, providing more flexibility on property utilisation.
In Malaysia, such condos generally share a common foyer. For instance, one might feature a two-bedroom unit and a studio, connected by a shared entrance, as opposed to a three-bedroom layout.
Depending on the developer, configurations may also include shared kitchens or living spaces.
Moreover, residents can use the attached unit as a home office, providing privacy to family members.
Dual-key condos are attractive for investors as rental yields can be maximised, while investment risks are minimised. They offer the flexibility to rent out the condo as a whole or each unit separately, appealing to a wider demographic.
The landlord will continue to generate income through the rental of other units, even though one tenant decides to move out. However, certain challenges such as tenant disputes and maintenance of common areas should also be expected.
Presently, new dual-key condos are priced similarly to or more than their two- or three-bedroom counterparts. Yet, it is very likely this layout will become more common in Malaysia in the near future.
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