Rented for: RM1,200 per month (about RM1.33 psf)
Concluded by: Yeo Hock Beng (REN 14090) of Griffin Properties (016-332 2701)
When: September 2019
● Built-up: 900 sqft
● Mid-floor unit with 3-bedrooms and 2-bathrooms
● Partially-furnished with air-cons, water heaters, washing machine, refrigerator, TV and TV cabinet, among others
● Two-year lease with an option for one-year extension
● Nearby amenities include Multimedia University (MMU), Cyberjaya Campus, eateries, mosque and mini markets
Developed by MK Land Holdings Bhd, the Cyberia residential development sits on a 60-acre freehold site next to MMU in Cyberjaya.
Launched in 1999, the 30-acre Cyberia SmartHomes in Zone 1 of Cyberia comprises 1,188 condominium units and 372 town villas.
Zone 2, on the other hand, is dubbed Cyberia Crescent. Comprising 397 units of condominiums and 402 units of town villas, it was launched in February 2004, according to the developer’s annual report.
According to Griffin Properties’ Yeo Hock Beng, who concluded the rental deal, the semi-furnished condo unit secured a two-year lease from a security firm as staff accommodation.
What caught the tenant’s attention was the amenities in the vicinity such as mini markets and eateries, as these will offer convenience for their staff who will be living there, Yeo told EdgeProp.my.
“The landlord is an investor from Sarawak. He purchased this condo for his son who used it while he was a student at MMU. It was rented out after the son graduated,” he said.
He added that the monthly rent of RM1,200 for the unit is considered reasonable as rental rates of similar units in the area ranged from RM1,000 for a bare unit to RM1,500 for a fully furnished unit.
The average asking price for a unit at Cyberia Smarthomes Condominium was about RM300,807 or RM322 psf, according to 28 sale listings as at Oct 22 on EdgeProp.my.
Based on the 16 units listed for rent on the portal, the average asking monthly rent was RM1,322 or RM1.20 psf, which translates to an indicative rental yield of 5.16%.
There were 17 Cyberia Smarthomes Condominium transactions in 2018, which sold at an average price of RM329,235, or RM279 psf. In the first half of 2019, two units were transacted at RM332,500 or RM333 psf.