Damai Citra terraced house

Rented for: RM2,500 per month (one-year lease)

Concluded by: Derrick Hum of Property Exchange (012-723 0309)

When: August, 2015

Noteworthy:
* Damai Citra 2-storey terraced house
* Leasehold
* 4+1 bedrooms, 4 attached bathrooms and 1 powder room
* Land area: 22ft x 80ft
* Built-up: 2,628 sq ft,
* Basic unit with lighting and ceiling fan
* Gated and guarded community with 24-hour security.
* About 16km from KL City Centre (approximately 15 minutes’ drive in smooth traffic conditions)

Damai Citra is the last phase of the landed development in Alam Damai, which was launched in July 2012. There are a total of 68 units in this gated community. Vacant possession (VP) was obtained in July last year. 

The launch price of Damai Citra was around RM800,000, while the current asking price in the sub-sale market is RM1.1 million. A recently done transaction of a bumiputera unit was recorded at RM980,000.

Alam Damai is located in Cheras and is one of the popular townships developed by I&P Group..

According to the agent, Derrick Hum of Property Exchange, this deal has set the rental benchmark for a 2-storey terraced house in Cheras. Previously, the asking rent in Damai Citra ranged from RM1,800 to RM2,000. Prior to this deal, most of the basic units in Alam Damai were rented out for RM1,500 to RM1,800.

Based on the launch price, with a monthly rental of RM2,500, this deal has fetched a rental yield of 3.75% as compared with 3% -- the rental yield of the same property in Damai Citra with an average monthly rental of RM2,000.

At the current asking price of RM1.1 million, the rental yield will be 2.73% (monthly rental of RM2,500).

“As a new gated and guarded community in Cheras, Damai Citra landed houses deserve a higher rental for its strategic location, nearby amenities and growing demand from the local middle income group,” said the agent.

Amenities nearby include schools -- SK Alam Damai, SJKC Taman Connaught (2) and SMK Bandar Damai Perdana) -- and hypermarkets such as Jusco, Cheras Sentral (formerly known as Plaza Phoenix) and Giant; and Cheras Leisure Mall.

According to data from theedgeproperty.com, in 2013, there were six transactions with selling prices ranging from RM793,953 (RM390 psf) to RM965,094 (RM354 psf). However, no transaction was recorded for 2014.

Based on six listings, the average asking monthly rent is RM2,487, or RM0.92 psf. 

Editor: To real estate agents -- if you have concluded an interesting deal recently, we would love to hear from you! Contact us at [email protected]

Start your search for a condominium of your choice HERE.

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