DONE DEAL: Mont’Kiara Damai Resort Condominium, Mont’Kiara, Kuala Lumpur

Click here to check the price trends at Mont’Kiara Damai Resort Condominium

Sold for: RM1.56 million or RM688psf

Concluded by: Brandon Lim of GMAC Realtors (012-6825020)

When: October 2015

Noteworthy:
* Freehold
* 2,272 sq ft
* Developed by UEM Sunrise
* Completed in 2004
* 1 block
* 230 units
* Unit was fully refurbished before sale
* Above level 30, offers a stunning view of Mont’Kiara’s hills and verdant scenery
* 30 sen psf maintenance fees
* Amenities include a barbecue area, indoor badminton court and gymnasium

According to the agent, Brandon Lim of GMAC Realtors, this unit was sold at market value. “There is an upcoming development next door by the same developer transacting at RM670psf for a similar sized unit but with a higher density,” Lim added.

According to him, another development in Mont’Kiara along Jalan Kiara 7 with units of a similar size is asking for RM774psf. “A comparable property would be Mont’Kiara Aman with a built-up of 2,163 sq ft, sold for RM 1.45 million in December last year.”

According to data from TheEdgeProperty.com, units at Mont’Kiara Damai Resort Condominium with average built-ups of 2,271 sq ft to 3,175 sq ft were sold for an average price RM645psf in 1Q2015.

In 1Q2014, three transactions of 2,271 to 5,780 sq ft units recorded at an average price of RM593psf.

Data from TheEdgeProperty.com from 1Q2012 to 1Q2015 saw the highest average price psf in 1Q2012, where a unit with a built-up of 3,175 sq ft was transacted at RM677psf. Prices dropped to its lowest in 3Q2012 to RM400psf before picking up to RM607psf at 1Q2013. Prices dipped by RM15psf in the next quarter to RM592psf, before increasing by RM14psf to RM606psf in 4Q2013.

Prices dipped again by RM13psf to RM593psf in 1Q2014 but there was an uptrend of prices until 1Q2015. However, the data noted a dip of RM20psf from RM644psf in 3Q2014 to RM624 in 4Q2014. There were 11 transactions in 3Q2014, the highest volume of transaction for our data period. They were sold at an average price RM1.74 million, with average built-ups of 2,271sq ft to 5,737 sq ft.

Data from TheEdgeProperty.com showed that the average asking monthly rent in Mont’Kiara Damai Resort Condominium is RM7,775 or RM3.05psf, with an indicative asking rental yield of 5.8%, based on 105 listings as of Jan 5.

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