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DONE DEAL: Menara Bangsar condominium, Jalan Maarof, Bangsar

Menara Bangsar

Sold for: RM1.64 million (RM937 psf)

Concluded by: Joey Ho (REN 25559, 018-947 6268) of IQI Realty Sdn Bhd

When: July 2018

Noteworthy:
● Built-up 1,750 sq ft
● High floor
● Fully furnished and renovated unit
● Comes with tenant
● 3+1 bedrooms and 3 bathrooms
● Walking distant to Bangsar Shopping Centre

Menara Bangsar is one of the first high-end condominiums in Bangsar. The 32-year-old condominium has full-fledged facilities which include a swimming pool, wading pool, BBQ area, gymnasium, tennis court, sauna and 24-hour security.

Real estate negotiator Joey Ho of IQI Realty Sdn Bhd had closed the sale of a 1,750 sq ft unit with tenancy agreement in the building for RM1.64 million in July. Under the lease which expires in 2020, the unit is rented out at RM4,500 per month.

Ho explained that despite its age, Menara Bangsar is very well maintained. Its condition was what prompted the buyer to purchase a total four units within the development, he added.

“He likes this condo very much. He occupied all three units with his family members. He decided to buy another unit for his daughter who is planning to get married soon,” said Ho.

Meanwhile, the seller who invested in this unit (pictured) five to six years ago is selling it off to finance another investment.

She added that the buyer will not terminate the tenancy contract since his daughter is only planning to marry in the next two to three years.

Commenting on the transaction price, Ho said it is a good deal for the buyer as there is very limited supply of such homes in the market. Moreover, it is fully furnished and renovated.

“For a similar size and condition, the asking price could be as high as RM1.7 million to RM1.8 million. So RM1.64 million is a very good deal for the buyer,” Ho said.

According to EdgeProp.my, as at Sept 19, the average asking price ranges from RM905 to RM1,223 psf.

Interested to buy properties in Bangsar, KL​? 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]

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