PROPERTY SNAPSHOT 3: Affordable Mont'Kiara?

• Based on transactions analysed by TheEdgeProperty.com, the average price of condominiums in the area was RM670 psf in 1Q2015, down 2.8% y-o-y. 
   
• About half (49.5%) of transactions in the 12 months to 1Q2015 were for units priced between RM601–RM800 psf,  while 31.1% were for units priced between RM401– RM600 psf. Only 6.7% of units were transacted above RM1,000 psf. 
   
• Despite the high price tags, the concentration of the market in RM401–RM800 psf range suggests that units offered in the area are generally large, and thus oriented towards affluent families. The average size of units sold was about 1,850 sq ft.
   
• The most expensive condominium is Verve Suites, with an average price of RM1,135 psf, at least 30% higher than the next-most expensive project.  The most expensive transaction was for a 1,399 sq ft unit here, at RM1,594 psf in Aug 2014. 
   
• Developed by the boutique Bukit Kiara Properties Sdn Bhd, Verve Suites is one of the newest completions in Mont’Kiara. The project consists of 933 units, most of which are studio, 1-bedroom and 2-bedroom units. With transacted prices starting at RM500,000 for a studio unit, Verve Suites is aimed towards single executives or young couples. 
   
• Buyers with large families concerned about affordability would find value at Lanai Kiara (RM440 psf) and Vista Kiara (RM490 psf). Located on Jalan Kiara 3, both projects are almost two decades old but are freehold properties. Typical 3-bedroom units here measure between 1,300 sq ft and 1,700 sq ft and transacted for between RM490,000 and RM780,000 during the review period.

Fancy some Verve in your life? 

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.