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DONE DEAL: Serviced apartment, D'Esplanade Residence, Taman Abad, Johor Bahru

Sold for: RM570,000 (about RM599psf)

Concluded by: Usha A/P R Lachumanan (REN 17124) of Gather Properties Sdn Bhd (016-720 0135)

When: August 2019

Noteworthy:
● Freehold
● 2 bedrooms and 2 bathrooms
● Built-up: 952 sq ft
● Fully furnished with fridge, sofa, cabinets, TV, mattresses, air-conditioners, water heaters

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Sitting on top of KSL City Mall in Johor Bahru and surrounded by ample amenities, including eateries, supermarket and bank, D’Esplanade Residence is accessible via Tebrau Highway and Jalan Tun Abdul Razak. It is only 4km away from the Sultan Iskandar Building’s Customs, Immigration and Quarantine (CIQ) complex

The project comprises 600 serviced apartments across two 33-storey towers in Johor Bahru.

It is part of the KSL City mixed development by KSL Holdings Bhd that also consists of KSL Hotel & Resort and KSL City Mall.

According to Usha Lachumanan of Gather Properties Sdn Bhd who concluded the deal, the previous owners of the unit were Singaporean investors who bought it from the developer and were renting it out as a short-term accommodation.

The buyer is also an investor who was attracted by the high ratings the unit received on accommodation booking sites. The buyer also liked the unit’s views of the ocean and of Singapore, she told EdgeProp.my.

“Both parties have been negotiating on the price for a few months and eventually reached an agreement which saw the buyer make a cash purchase for the unit,” she said.

She added that the units in D’Esplanade Residence are sought after due to their strategic location where ample amenities can be found at its doorstep.

“For instance, the KSL City Mall is just downstairs and a wide range of offerings can be found in the mall,” she said.

The average asking price for a unit at D’Esplanade Residence was about RM638,385 or RM738 psf, according to 13 sale listings as at Sept 30 on EdgeProp.my.

Based on the 19 rental listings on the property portal, the average asking monthly rent was RM2,626 or RM2.32 psf, which translates to an indicative rental yield of 4.39%.

There were 10 transactions at D’Esplanade Residence in 2018 at an average transacted price of between RM440,000 to RM1.3 million, or RM578 to RM698 psf. In the first half of 2019, a unit was transacted at RM353,000 or RM683 psf.

Interested to buy properties in Taman Abad, Johor Bahru? Click here.

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