Rented for: RM2,400 (RM2.19 psf)
Concluded by: Jin Teok (REN 24772) (012-7717963) of MIP Properties Sdn Bhd
When: October 2019
● Built-up: 1,096 sq ft
● 2 bedrooms, 1 study room, 2 bathrooms
● High floor
● Within 1km radius of popular shopping centres: IKEA Damansara, The Curve, TESCO Mutiara Damansara, Empire Damansara; well-connected to various highways: Lebuhraya Damansara-Puchong (LDP), Sprint Highway, Penchala Link
Developed by Saujana Triangle Sdn Bhd (a wholly-owned unit of MK Land Holdings Bhd), Metropolitan Square is a mixed development in Damansara Perdana, Petaling Jaya.
The development comprises six residential blocks and one commercial block offering shop and office units. The serviced apartment units’ built-up sizes range from 450 to 1,462 sq ft while the commercial units have built-ups ranging from 525 to 1,276 sq ft.
Each residential block has its own facilities such as swimming pools, BBQ pits, gym and badminton courts. The development is also near the Mutiara Damansara shopping belt (IKEA Damansara, The Curve and IPC Shopping Centre).
According to Jin Teok of MIP Properties who concluded the rental deal, the owner had bought it for investment after considering its rental yield of around 5% per annum.
“The tenant liked the interior design of the unit and that each bedroom has air-conditioning. Plus, it comes with a balcony that offers both city and pool views as well as two side-by-side parking bays.
“It is hard to find fully-furnished units with a good view and two side-by-side parking bays in Petaling Jaya. Rent of similar units in Tropicana and Ara Damansara, for instance, is around RM3,500 a month,” Jin told EdgeProp.my.
Based on EdgeProp.my data as at Jan 7, 2020, there were 145 for-sale listings of Metropolitan Square apartments asking for an average price of RM582,194 or RM554 psf while there were 151 rental listings asking for an average rent of RM1,921 or RM2.05 psf per month. The indicative rental yield was 4.88%.