DONE DEAL: Bungalow in Tropicana Indah, Petaling Jaya

Sold for: RM7.8 million (RM896 psf)

Concluded by: Zack Ng of Knight Frank (016-6459797)

When: August, 2015

Noteworthy:
* Leasehold
* 6+1 rooms
* 6 bathrooms
* Land area: 11,840 sq ft
* Built-up: 8,700 sq ft
* Guarded community
* Swimming pool
* European-designed home built with the finest materials
* Elevated land gives the unit a view of PKNS golf course
* Entire floor fitted with quality marbles
* Double cavity brick wall with anti-moulding mineral paint traps coolness in the house and ensures the aesthetics of the wall remain durable through moist and heat

According to the agent, Zack Ng of Knight Frank, the bungalow was sold with most of its furniture and fittings. He said Tropicana Indah is unique due to the presence of the golf course and the fact that each bungalow is individually designed by different owners.

Ng pointed out that as most bungalows are individually designed, the prices differ.

“Also, some bungalows are sold with furniture and fittings, while some are bare units. Thus, the asking prices and transacted prices differ, depending on what they have to offer,” Ng added.

He said the current asking price of a bungalow with similar built-up in Tropicana Indah is RM7.5 million to RM8 million, while the transacted price is RM6.5 million to RM7.5 million.  

“The average land price is about RM 400 to 450 psf in today’s market rate,” Ng said.

The closest comparable development would be the bungalows in Saujana, which are also individually designed and are priced at between RM7 million and RM8 million from July to September 2015, said Ng. They have an average land area of 13,700 sq ft and built-ups of 6,000 to 6,500 sq ft.

Another comparable development, added Ng, are the bungalows in Damansara Idaman due to their freehold status and prices that are within the RM6 million range (July to September 2015). They have land areas of 8,000 sq ft and built-ups of 6,082 sq ft.

According to the data from theedgeproperty.com, there were two Tropicana Indah transactions with an average price of RM606 psf with built-up areas of between 4,004 and 5,102 sq ft in 2Q2014.

Data from theedgeproperty.com also showed 17 listings with an average asking price of RM9,494 or RM1.76 psf (4Q2013 to 3Q2014), with indicative asking rental yield of 3.9%.

The latest asking price for a similar bungalow in Tropicana Indah was RM7.8 million for an 8,700 sq ft unit (RM896 psf), which was listed in theedgeproperty.com on Sept 11.

Editor: To real estate agents -- if you have concluded an interesting deal recently, we would love to hear from you! Contact us at [email protected]