DONE DEAL: Reed @ Lake Fields, Sungai Besi

Rented for: RM3,400 per month

Concluded by: C N Liew of GS Realty (014-2270307)

When: June, 2015

Noteworthy:
* 1,920 sq ft land area
* 3,300 sq ft built-up
* Current asking price is RM1.6 million, on average
* Launch price in 2012 was RM1.2 million
* Leasehold
* 4 + 1 bedrooms, all with ensuite bathrooms
* 3-storey intermediate unit
* Key obtained in May, 2015
* 10 minutes to KLCC and the city
* Close proximity to Serdang KTM station and Sungai Besi LRT station

According to the agent, this is the first unit in the development to be tenanted since the handover in May. The tenant is a retired couple who lived in Kajang before deciding to move here to be closer to the city.

Developed by YTL Land & Development Bhd, Reed is the final phase of Lake Fields in Sungai Besi that saw an oversubscribed ballot exercise during the launch in 2012.

The agent said the 3-storey linkhouse is partly furnished with wardrobe and kitchen cabinet. It is also the only gated and guarded superlink home development in Lake Fields, and features a three-acre central park, children’s play area and foot paths.

The owner offered a discount of RM200 per month as the tenant paid advance rental of six months.

“The biggest challenge owners face nowadays is delayed rental payments or tenant default. It is very hard to determine how trustworthy tenants are by their occupations and background,” he said. “That is why this owner accepted advance rental payments and gave a discount.”

According to data from theedgeproperty.com, based on 69 listings from 4Q2013 to 3Q2014, the average monthly asking rent for linkhouses in Lake Fields and Taman Tasik Damai, where Lake Fields is located, is RM3,145, or RM1.17 psf. The indicative asking rental yield is 2.3%.

Average transacted prices in 3Q2014 were RM708 psf, an increase of 14.74% y-o-y from RM617 psf in 3Q2013. The information is based on eight listings. Details such as built-ups were not available.

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]