DONE DEAL: Reflection Residences, Mutiara Damansara, Petaling Jaya

Sold for: RM880,000 (RM805 psf)

Concluded by: Justin Tau (REN 18860) of Hartamas Real Estate (OUG) (017-674 3763)

When: April 2017

Noteworthy:
● Freehold
● Built-up: 1,092 sq ft
● 3-bedroom and 2-bathroom
● Maintenance fees: 35 sen psf
● Mid floor and facing south
● Partly furnished with kitchen cabinet, hood and hob, four air-cons, water heater, washing machine and dryer
● Facilities: infinity pool, gym, steam room, playground, a BBQ area and a tennis court

Located in Mutiara Damansara, Petaling Jaya, Reflection Residences is a newly completed serviced apartment development by Glomac Bhd. It was handed over early this year.

“The unit is a brand new and that has never been occupied. The seller was an investor who passed me the key once the unit was handed over,” said Justin Tau of Hartamas Real Estate, the negotiator who concluded this deal.

He added that the seller would have made a profit of around 10% from this property.

Meanwhile, the buyer was looking for a family home and liked the location of the development since he works in one of the offices in Mutiara Damansara,” Tau notes.

Since Reflection Residences is a newly completed project, there are more units to choose from in the sub sale market.

“The buyer was offered a few units but he liked this mid-floor unit,” Tau says.

As at May, the average asking price psf for Reflection Residences was RM900 to RM920 psf.

“Looking at the area, I think there will be very limited residential projects there in the future. This will support the price growth but not now because market sentiment is low. Some investors here are still holding on to their units hoping the price will go up in the near future,” he said.

There are 20 listings of Reflection Residences on TheEdgeProperty.com as at July 26. The range of asking price psf is from RM779.42 to RM1,130.16.

Interested to buy properties in Mutiara Damansara? Click here.

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