PROPERTY SNAPSHOT What are developments priced in Brickfields?
There is a large premium for developments located within KL Sentral, with a premium of at least 40%-50%
There is a large premium for developments located within KL Sentral, with a premium of at least 40%-50%
From a larger perspective, the majority of transactions (some 71.6%) in Brickfields still fall below the RM1.0 million mark
The REIT is part of the integrated property developer’s long-term strategy to generate a recurring income stream, contributing 30% to its net profit
Brickfields is a two-tier market with projects within KL Sentral commanding a large premium over the older ones outside it
In 3Q2014, the average transacted price for Mont’Kiara was RM685 per square foot (psf), up 7.8% y-y
Residents in some old neighbourhoods are willing to cough out a substantial amount of money to either pay for security guards or set up fences
On a psf basis, the most expensive transacted were Verve Suites (RM1,086 psf), 10 Mont’Kiara (RM854 psf) and Kiara 9 (RM820 psf).
In absolute amount, the most expensive transacted units were at 10 Mont’Kiara (RM3.22 million), followed by 11 Mont’Kiara (RM2.72 million) and Seni Mont’Kiara (RM2.05 million)
Prices in Mont’Kiara appear to be picking up momentum following a slower growth in preceding years
Full cost of project can only be confirmed once the detailed design and stations are finalised