Sold for: RM3.65 million (RM811.10 psf)
Concluded by: Eunice Yong (REN 17145, 017-628 9994) of PropNex Malaysia
When: September 2018
● Built-up: about 4,500 sq ft
● 5 + 1 bedrooms and 6 bathrooms
● Comes with 5 car park bays and a private lift
● Renovated and partially furnished
● Facilities includes salt water swimming pool, gyms, badminton court and multipurpose hall
Developed by Selangor Dredging Bhd (SDB), Five Stones Condominium comprises five blocks of low and mid-rise villas and high-rise condominiums with large built-ups.
Completed in end-2012, this low density luxury development is located in the bustling SS2 of Petaling Jaya, where one will find a wide range of amenities just a stone’s throw away, namely the Starling Mall, Atria Shopping Gallery, SS2 Park, Jaya One, Columbia Asia Hospital and KDU College.
According to PropNex Malaysia’s Eunice Yong who concluded the deal, given the limited supply of the penthouses in Five Stones Condominium, the buyer who was attracted by the exclusivity of the penthouse decided to seize the opportunity even though the unit is currently tenanted and the lease will only expire in October 2019.
“This is very rare in the market and the buyer did not want to miss out, so he bought this unit while it is still tenanted and plans to move in after the tenancy agreement expires next year,” Yong said, adding that the penthouse is leased out for RM10,000 per month.
Data collated by EdgeProp.my shows that there were 139 transactions of condominiums in Five Stones Condominium between the third quarter of 2012 (3Q12) and 4Q17 with transacted prices ranging from RM648 psf to RM811 psf.
The highest transacted price of RM811 psf was recorded in 4Q2017.
According to the 58 sales listings on EdgeProp.my, the average asking price for units in Five Stones Condominium is RM2.17 million or RM812 psf, while the average asking rental is RM5,451 or RM2.29 psf, according to 39 rental listings, translating into a yield of 3.59%.
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