RM12.5m Done Deal breaks Park Regent psf-price record

• The recent Park Regent unit sold at RM2,771.6 psf breaks the previous record high of RM1,684.4 psf.

KUALA LUMPUR (March 27): A recent transaction of a unit at Park Regent (pictured) in Desa ParkCity, Kuala Lumpur at RM12.5 million (RM2,771.61 psf) was not only a very rare high-price transaction, but also broke the record within the project itself.

According to the Prestige Realty real estate agent Lucas Liew, the buyers loved the spacious 5-bedroom unit, which gave them the sense of “a bungalow in the sky”.

Completed in 2023, Park Regent is a freehold luxury condominium developed by Cloudvest Sdn Bhd, jointly with the ParkCity Group and CapitaLand Malaysia Trust. Launched in July 2019 at RM1,100 psf, it also broke the record for being the first condo project in Desa ParkCity to be launched above four figures psf.

It comprises two residential towers offering 505 units with built-up sizes ranging from 872 sq ft to 4,887 sq ft on a prime 5.61-acre land that neighbours the central park and its signature central lake in Desa ParkCity.

Under EdgeProp’s EPIQ Monitor, four transactions were recorded as of Dec 31, 2024 (refer to Table 1) — each topping the psf price of the preceding one. After a whole year of zero transaction in 2024, the upward streak went from RM1,684.40 psf to RM2,771.61 psf in January this year, translating to a leap of 64.5%!

You might think the case was an exception based on the unique circumstances of the buyer preference, but it is worth noting that this price of over RM2,700 psf in Park Regent might not be the last.

Based on listings on EdgeProp.my as of today, a  4-bedroom unit of 4,510 sq ft is listed with an asking price of RM13,800,000 (RM3,060 psf). If this deal were transacted, the recent record high price for the “bungalow in the sky” would be broken, setting another historical high in the township.

If you’re looking for a spacious unit at Park Regent, there is a listing for a 4,887-sq ft, 4-bedroom unit, offered at RM8,200,000 (RM1,678 psf).

However, if you’re looking for a lower price in this premium project, there is a listing for a 2,723-sq ft, 3-bedroom unit, with an asking price of RM3,350,000 (RM1,230 psf).

Want to have a more personalised and easier house hunting experience? Get the EdgeProp Malaysia App now.