Sold for: RM1.03 million (RM506 psf)

Concluded by: Michelle Cheong (REN 18391, 016-502 0868) of Landbanc Property

When: February 2018

Noteworthy:
● Freehold
● Built-up: 2,036 sq ft
● 3 + 1 bedrooms and 3 bathrooms
● Fully furnished with furniture, kitchen cabinet and curtains
● Accessible via Jalan Duta Kiara, Sprint Highway, Jalan Duta-Sungai Buloh Highway, Kerinchi Link and North-South Expressway
● Walking distance to Solaris Mont’Kiara

Situated a stone’s throw away from Solaris Mont’Kiara, La Grande Kiara is a French-themed condominium developed by boutique developer Nikmat Kuasa Sdn Bhd.

The development is made up of three towers, namely twin 20-storey blocks Aramis Tower and Beaufort Tower and the 12-storey Wedgewood Residence.

In total, all the towers comprise 376 units of luxury condominiums with built-ups from 1,961 sq ft to 7,355 sq ft.

According to Landbanc Property’s Michelle Cheong, who concluded the deal, the 2,036 sq ft unit was sold at a great price of RM1.03 million as the market price for such a unit in La Grande Kiara ranges from RM1.25 million to RM1.4 million.

“Both the seller and purchaser are foreigner. The seller had begun selling off all of his properties in Malaysia when he was about to return to his own country after staying in the unit for approximately eight years.

“Initially, he was asking for RM1.23 million for this unit before the price was reduced several times. There were three different buyers who wanted to buy the unit but all of them were unable to secure a loan,” said Cheong.

Subsequently, the purchaser came and offered a price of RM1.03 million after the seller has left the country.

The purpose of the purchase was for own stay as the new owner just moved to Malaysia in 2017 with his family.

“Although the offer price is lower than the seller’s asking price of RM1.1 million at that time, he decided to let go of the unit as he already returned to his home country,” she added.

Data from EdgeProp.my shows that there were 144 transactions in La Grande Kiara over the first quarter of 2012 (1Q12) to 4Q17.

The highest average transaction price of RM573 psf was recorded in 3Q17.

In 4Q17 alone, there were two transactions with an average transaction price of RM523 psf.

The 93 sale listings on EdgeProp.my show that the average asking price for La Grande Kiara is RM1.39 million per unit or RM592 psf as of May 31, 2018.

Meanwhile, 69 rental listings on the portal show that the average asking rental is RM4,877 per unit or RM2.38 psf per month.

This translates into an indicative rental yield of 5.16%.

Interested to buy properties in Bukit Kiara? 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]