DONE DEAL: G Residence condominium, Desa Pandan, Kuala Lumpur

Sold for: RM1.04 million (RM735 psf)

Concluded by: Shimry Wong (REN06314) of 1TPE Realty Sdn Bhd (014-367 3822)

When: November 2016

Noteworthy:
● Leasehold
● Built-up: 1,414 sq ft
● 2+1 bedrooms, 2 bathrooms
● High floor
● Partly furnished with customised wardrobe, air-cons and ceiling fans

G Residence is a high-end condominium which was completed in early 2015. It is located next to the Raintree Club and the Royal Selangor Polo Club in Desa Pandan.

The agent who closed this deal, Shimry Wong of 1TPE Realty Sdn Bhd, told TheEdgeProperty.com that the seller bought the unit as an investment for rental returns.

“However, the rental market is not strong here currently. Partly because it was asking for RM4,000 rent per month (RM2.82 psf per month) banking on the unit’s nice golf course view. Besides, it is a fairly new development so there is quite a bit of supply in the market,” Wong noted.

She then convinced the owner to sell the unit as she has a client looking to buy.

“The buyer offered RM1 million at first but the seller turned it down because it is way below the original purchase price of RM1.2 million. At the end, both parties agreed to transact the unit at RM1.04 million,” Wong shared.

She described it as a good deal for the buyer as it comes with wardrobes, air-conditioners and ceiling fans, as well as direct views of the golf course.

The average transacted price for G Residence from May 2015 to May 2017 is around RM657 psf, or an average of RM855,000 per unit.

According to data from TheEdgeProperty.com’s listings, the asking monthly rent at G Residence ranges from RM2.07 psf to RM3.83 psf.

Interested to buy properties in Desa Pandan? Click here.

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]