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DONE DEAL: Kiara Designer Suites serviced apartment, Mont’Kiara, Kuala Lumpur

Kiara Designer Suites

Sold for: RM625,000 (RM574.45psf)

Concluded by: Kevin Teh (REN 02206, 013-555 7333) of Propstar Realty

When: July 2018

Noteworthy:
Built-up 1,088 sq ft
Fully furnished unit
Walking distance to Garden International School
Rental yield of 4.5% to 4.8%
Facilities include tennis court, gym, mini market, sauna, swimming pool and BBQ area.

Kiara Designer Suites is situated at Jalan Kiara 3, on the same road as Garden International School. The freehold development has only 338 suites.

Kevin Teh (of Propstar Realty), the real estate negotiator who closed the deal, told EdgeProp.my that the sale was a good deal as the owner was moving to another country.

“The owner requested to sell the property within a certain time frame because he was migrating to another country soon. And because of that, he didn’t mind selling the unit at slightly below market price,” Teh shared.

Meanwhile, the buyer was an investor who was eyeing the rental potential of such properties in the area.

“The buyer liked the unit as it is in a fairly good condition, and comes fully furnished. All he needed is some touch up and the unit will be fit to be rented out,” he explains.

Teh said similar units at Kiara Designer Suites are transacting on the high side of RM600,000 at  “almost RM700,000 but still below that level, so this is a good deal to the buyer as it is below market price and  fully furnished”.

According to EdgeProp.my data, as at Sept 26, the average transacted price for Kiara Designer Suites is RM752,500 or RM619 psf, while the asking price psf ranges from RM561  to RM682 psf.

Meanwhile, the asking rental is between RM2.31 to RM2.88 psf per month.

Interested to buy properties in Mont'Kiara, KL​? Click here.

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