DONE DEAL: Unit at 28 Mont’Kiara (MK 28), Mont’ Kiara, Kuala Lumpur

Sold for: RM1.9 million or RM749psf

Concluded by: Chris Ng of GMAC Realtors (019-6148656)

When: June 2015

Noteworthy:
* Freehold
* 2,535 sq ft
* Maintenance fee of 28 sen per sq ft
* Partly furnished with built-in wardrobes, kitchen cabinets, refrigerator, washing machine, dryer and an oven
* Completed in 2012
* 2 blocks of 40-storey condo
* Private lift lobby for each unit
* Unit is facing south, away from the highway and noise from the main road

According to the agent, Chris Ng of GMAC Realtors, the selling price for this freehold unit is in line with the market price of RM730 to RM850psf. “There were many transactions for this condo this year, with high rental demand and rental yield,” Ng added.

According to him, the rental of MK 28 units is in between RM6,500 to RM12,000 a month, depending on the condition of the unit.

“We managed to rent out the unit two weeks after the buyer took possession of the property,” he said.

According to data from TheEdgeProperty.com – which covers transactions of units with built-ups from 1,475 sq ft to 4,058 sq ft, from 1Q2012 to 1Q2015  – there were five transactions at MK 28 with an average price of RM785psf, or RM2.06 million, in 1Q2015.

In 1Q2014, there were six units transacted at an average price of RM723 psf, or RM1.87 million.

According to the same data, the average price psf was the highest in 2Q2012 at RM821psf, or RM2.47 million per unit. However, average prices psf then dropped to RM706, or RM1.89 million per unit in 2Q2013.

The rest of 2013 saw prices psf rising, peaking in 4Q2013 at RM749psf, or RM2.05 million per unit.

Subsequently, prices at MK 28 saw a slight dip in 1Q2014 to RM723psf, or RM1.88 million.

However, the average price per sq ft has been increasing from 2Q2014 until 1Q2015.

Listings on TheEdgeProperty.com showed that the average asking monthly rent in MK 28 is RM8,870, or RM3.23psf (2Q2014 to 1Q2015), with an indicative asking rental yield of 5.1%.

The current listings also showed that the latest asking prices at MK 28 are between RM1.35 million to RM6.47 million for units with built-ups of 1,000 over sq ft to 6,000 over sq ft.

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Click here to check out the price trends at 28 Mont'Kiara.