DONE DEAL: Mont’Kiara Pines condominium, Kuala Lumpur

Sold for: RM875,000

Concluded by: Dion Diong of Putra Realty (012 275 1245)

When: Early 2015

Noteworthy:
- Freehold
- Block A
- 26th floor
- Built-up area: 1,268 sq ft
- 3 bedrooms, 2 bathrooms
- Fully furnished
- Two parking lots (covered)
- Views of KL's city centre
- Facilities include: a gymnasium, swimming pools, jogging path, courts for tennis, squash and badminton, a playground, barbecue area
- Next to the project is Mont’Kiara Shoplex, which offers F&B outlets such as Taiko Japanese Cuisine, Las Vacas and Hagen Bake & Brew

Mont’Kiara Pines is one of the oldest condos in Mont’Kiara. The three-tower development along Jalan Kiara 1 was completed in 1993, when prices averaged RM190 psf.

Average prices swelled to a whopping RM685 psf in 3Q2014, according to data from theedgeproperty.com/National Property Information Centre (Napic).

On the other hand, average transacted prices of Mont’Kiara Pines rose to RM791,875 per unit or RM604 psf at 3Q2014, based on eight transactions.

While Mont’Kiara Pines’ average values psf are slightly below Mont’Kiara’s average, those who had bought the units earlier would have enjoyed tremendous capital appreciation.

From 2012 to 3Q2014, prices fluctuated slightly but usually increased by 5% to 9% on a quarterly basis. During the period, there were no more than 13 transactions per quarter; during some quarters sales were in the single digits.

Meanwhile, based on 185 listings, average asking rents are RM3,639 per month or RM2.66 psf, translating into a yield of 5.7%.

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].