What Everybody Ought to Know About Dual Key Home? • Specialize in the sale and purchase of properties in Malaysia

What Everybody Ought to Know About Dual Key Home?

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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.

  1. 1
    The Luxe by Infinitum @ KLCC (Cheapest psf in KLCC, RM1200 psf onward)
  2. 2
    Sky Setia Condominium @ KLCC
  3. 3
    Oxley Tower @ KLCC
  4. 4
    Trion@KL, Chan Sow Lin (Sold 600 units in 3 months)
  5. 5
    The ExpressionZ Professional Suite @ Jln Tun Razak
  6. 6
    Neu Suites, 3rdNvenue @ Ampang
  7. 7
    8th and stellar @ Sri Petaling
  8. 8
    Amani Residence @ Puchong
  9. 9
    Epic Residence @ Puchong
  10. 10
    The Estate @ Bangsar South
  11. 11
    Cubic Botanical @ Bangsar South
  12. 12
    Sunway Mont @ Mont Kiara
  13. 13
    COMO @ Bukit Jalil
  14. 14
    Sunway Serene @ Petaling Jaya
  15. 15
    Tria @ Seputeh
  16. 16
    Greenfield Residence @ Bandar Sunway
  17. 17
    and 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

  • Strategically located along Jalan Sultan Ismail, KLCC
  • 2 minutes walk to Medan Tuanku Monorail Station 
  • Freehold property next to Quill Mall and UniKL (University Kuala Lumpur)
  • 5-7 minutes drive to KLCC Twin Tower

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
* Rental rate are based on nearest condo rate with similar layout 

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
* Room rate are based on nearest condo rate with similar layout 

RM200

1 Bedroom  Unit
* Room rate are based on nearest condo rate with similar layout 

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

  • Higher Rental Yield
  • Flexibility in usage of configuration
  • Own 2 units but pay 1 stamp duty and taxes
  • Enjoy privacy yet can stay with parents
  • Easy management and maintenance
  • Easy to collect rental if owner stay next door
  • Can be use as home office

Cons

  • Soundproofing  (depend on quality of the property) 
  • Shared utility bill (some project offer separate utilities meter bill)
  • Each unit cannot sell separately

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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About the author

Kenneth Goh

My name is Kenneth Goh and author of this blog. This blog will share with you more about property knowledge, investment, internet marketing and technology. It is just about anything that is good to share. Do give your comment if you like or dislike this post and I will reply all of them. Thank You for your Visit. If you have any question, please feel free to contact me using contact form here.


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