DONE DEAL: Kemensah Residency, Taman Melawati

Sold for: RM3,800,000 (RM633.33 psf)

Concluded by: Matt Tian of Reapfield Properties (016-2085108)

When: December 2015

Noteworthy:

• Freehold
• Built up: 6,000 sq ft
• Land size: 7,000 sq ft
• Completed in 2008
• Only 29 bungalow units in a gated-and-guarded community
• Partly furnished with built-in kitchen, cabinets, wardrobes, lighting, fans, air-conditioners, wardrobe
• Comes with a swimming pool in the middle of the house

According to the agent, Matt Tian of Reapfield Properties, the property was in the market for six months before he met the buyer at an open house.

“The current owner was the tenant of the bungalow back then. He rented the bungalow for RM10,000 for about three months before deciding to buy it ,” he added.

“The family was happy living there as the housing area had good security. Also, because they had elderly family members living together with them, the 2-storey bungalow was more suitable for them as they did not have to go up and down the stairs so much,” Tian explained.

According to data from TheEdgeProperty.com, there was one transaction at Kemensah Residency with an average price of RM506 psf or RM3.6 million and a built-up area of 7,115 sq ft in 4Q2013. That was the highest average unit price psf in the data.

Prior to that, 1Q2012 saw a transaction of RM414 for data from 2012 to 2015, according to TheEdgeProperty.com. There was one transaction in that period with a built-up of 7,126 sq ft at RM2.95 million.

Tian cited comparable properties in the neighbourhood are the 2-storey and 3-storey Twin Palms by Lum Chang bungalows with built-ups of 4,700 sq ft to 4,900 sq ft priced between RM2.5 million to 3.9 million in the sub-sale market.

The available listings on TheEdgeProperty.com show that the average asking monthly rent in Kemensah Residency is RM12,667 or RM2.11 psf.

Data from TheEdgeProperty.com show that the current average asking price is RM358.78 psf.

Interested in other properties in Kemensah Residency. Click here.

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