DONE DEAL: Kiaramas Cendana condominium, Mont'Kiara, KL

Sold for: RM1.38 million (RM560 psf)

Concluded by: Jerro Loh (E2417) and Esther Chan (REN 08489) of J Maison Realtor (012-281 2078; 017-664 6709)

When: September 2017

Noteworthy:
● 2,465 sq ft
● 16th floor, facing west with swimming pool and forest view
● 4+1 bedrooms, 4 bathrooms
● Partially furnished: built-in wardrobe, kitchen cabinets, sofa, dining tables, beds
● Facilities: swimming pool, gym, tennis court, badminton court, squash court and playground

Located at the highest point of Mont’Kiara, Kuala Lumpur and surrounded by lush greenery, Kiaramas Cendana is a low-density development housing only 184 condominium units within a 29-storey block.

According to the principal of J Maison Realty Jerro Loh, who concluded the deal with Esther Chan, the seller is a Bangladesh national who bought the unit as a holiday home.

“Now that her kids have grown up and are studying abroad, they hardly come to Malaysia anymore so that’s the reason why she is selling off the property,” Loh told EdgeProp.my.

Meanwhile, the buyer is a Malaysian residing in Australia who is purchasing the unit for her mother and grandmother to live in.

“The mother and grandmother love the unit because it has a very practical and functional layout — four decent-sized bedrooms, one formal living hall, informal living area, dry and wet kitchens, and separate dining areas — all in a 2,465 sq ft unit, which is quite difficult to find nowadays in a new development.

“They also like the unit because it is a corner unit that comes with a lot of natural lighting and good ventilation,” said Loh.

He added that the average transacted price in Kiaramas Cendana is between RM550 psf to RM650 psf, noting that the transacted price of this unit at RM1.38 million is within the fair market value.

Based on data from EdgeProp.my, there were 65 transactions at Kiaramas Cendana from 1Q12 to 2Q17. There is no transaction beyond 2Q17. They were sold at an average price of RM569 psf, with the highest average transacted price of RM751 psf recorded in 2Q16.

The available listings on EdgeProp.my showed that the average asking price for Kiaramas Cendana is RM1.73 million or RM685 psf while the average asking rental is RM6,061 per month or RM2.47 psf, with an indicative asking rental yield of 5.2%.

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