DONE DEAL: Faber Ria Condominium unit, Taman Desa, Kuala Lumpur

Sold for: RM600,000 (RM445 psf)

Concluded by: Shimry Wong (REN06314) of 1TPE Realty Sdn Bhd (014-367 3822)

When: March 2017

Noteworthy:
● Freehold
● 31-year-old condominium
● Built-up: 1,348 sq ft
● 9th floor, facing south
● Fully-furnished unit
● 3+1 bedroom, 3-bathroom

Faber Ria is one of the oldest condominium developments in Taman Desa, Kuala Lumpur. According to the agent who closed the deal, Shimry Wong of 1TPE Realty, it is 31 years old.

“The average transacted price of units in this project is between RM500 psf to RM550 psf. However, this unit was sold at RM445 psf,” Wong said.

Wong explained that the seller accepted the below-market-price deal as she was looking for a quick sale to finance a new landed home.

“The seller also needed the money for renovations of her new home. Hence the unit was let go at this price (RM600,000), with almost all the furniture and home appliances intact,” she said.

Meanwhile, the buyers were a young couple who were upgrading from a 700 sq ft unit, which is also in Taman Desa.

“They like the unit size, the location of the project and the quality of the project. Besides, it is fully-furnished. Although it is a very old development, you will not see any cracks on the wall or any major problems with the building. It is a clean, safe and family-oriented project,” she noted.

According to TheEdgeProperty.com’s data, the average transacted price at Faber Ria Condominium in 2016 was RM465 psf. The highest transacted price was RM792 psf recorded in September 2015 

As at May 30, the average asking price of units for sale at the project on the property portal ranges from RM475 psf to RM748.95 psf.

The average asking rental is RM2.08 psf per month, with an indicative monthly rental yield of 4.74%.

Interested to buy properties in Taman Desa? 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]