PROPERTY SNAPSHOT What’s hot in Mont’Kiara?

•    Today, we continue our focus on Mont’Kiara by looking at price trends and rent for projects in the area.
•    In 3Q2014, the average transacted price for Mont’Kiara was RM685 per square foot (psf), up 7.8% y-y.
•    Based on theedgeproperty.com’s analysis of transactions completed in the 12 months to 3Q2014, Kiara 9 saw the highest price appreciation, up 23.1% y-y to an average price of RM820 psf.
•    This was followed by Vista Kiara, up 17.1% to RM520 psf, Angkupuri, up 16% to RM541 psf and Mont’KiaraPelangi, up 14% to RM605 psf.
•    Among the top four performers, it is interesting to note that Kiara 9 is a relatively new project, completed in 2011, while the others are older ones completed in the mid-1990s, with lower price points.
•    Based on asking rental prices by real estate agents, the project with the highest average monthly rent is Verve Suites at RM5.30 psf. This is likely because the units there are small and came fully furnished by the developer. This works out to an asking rental yield of 6.1%.
•    Overall, rental rates in the Mont’Kiara area generally range between RM2.50 psf to RM3.50 psf.
•    Based on asking rental and transacted sale prices, the asking rental yields are highest at Tiffani Kiara (6.8%), Gateway Residences (6.5%), Mont’Kiara Pelangi (6.4%) and La Grande Kiara (6.1%).

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

Related stories:
PROPERTY SNAPSHOT Mont’Kiara prices rise 7.8%
PROPERTY SNAPSHOT What’s affordable in Mont’Kiara?
PROPERTY SNAPSHOT What are Mont’Kiara projects priced?

Editor’s note: Property Snapshot appears every Monday through Thursday beginning May 5, both in The Edge Financial Daily and on theedgeproperty.com. Every week, we will give you a quick and brief analysis of a certain section of the property market in a specific area. This daily series will be followed by a deeper analysis and focus of the particular area in The Edge Property pullout of The Edge Financial Daily on Friday. The analysis is done by theedgeproperty.com’s research team. We hope that the information you get here will benefit you.