DONE DEAL: Serviced apartment, Swiss-Garden Residences, Kuala Lumpur

Sold for: RM510,000 (RM927.27 psf)

Concluded by: Meifen Low (REN 06451) (012-6530714) of One World Real Estate

When: January 2020

 Built-up: 550 sq ft
1 bedroom, 1 bathroom
Fully furnished
 High floor
Around 1.5km from the Bukit Bintang shopping belt, walking distance to Plaza Rakyat LRT station, Hang Tuah Monorail and LRT station.

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Located in the heart of Kuala Lumpur, Swiss-Garden Residences Kuala Lumpur is situated at off Jalan Pudu, right behind Swiss Garden Hotel Bukit Bintang.

Completed in 2011, the freehold high-rise residential project was developed by PJ Development Holdings Bhd (now part of OSK Holdings Bhd).

Swiss-Garden Residences consists of two blocks housing 478 units with built-up sizes ranging from 550 to 2,700 sq ft. Facilities include swimming pool, banquet hall, squash court, gymnasium, sauna and more.

This project is just a 1.2-km walk from Petaling Street and the Bukit Bintang shopping belt as well as less than 1km to Berjaya Times Square KL, said One World Real Estate negotiator Meifen Low who concluded this studio unit deal.

The seller was a foreigner while the buyer is a property investor familiar with the Kuala Lumpur market who saw the potential of the unit in such a location, for capital appreciation and rental income, Low noted.

This well-maintained unit which comes with a car park bay was sold at slightly below market price. On top of that, it was a fully-furnished corner unit that offers privacy and a fantastic city view. “It did not take long for the buyer to make his decision,” added Low.

Data obtained from as of April 13, 2020, showed that there were 23 listings for Swiss-Garden Residences with asking prices averaged RM605,391 or RM834 psf.

A further breakdown showed three listings for 550 sq ft units priced from RM414,000 to RM560,000 (RM752.72 to RM1,1018.18 psf).  

As for rentals, there were also 16 listings with an average monthly rate of RM2,561 or RM3.98 psf.

Meanwhile, there were four transactions in 2019 with an average transacted price of RM603,750 or RM1,012 psf, while in 2018 there were 13 transactions with an average transacted price of RM645,462 or RM1,042 psf.

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Interested to buy a unit in Swiss-Garden Residences? Or click here for more property listings in Bukit Bintang. Click here to know more about Meifen Low and potential good deals.

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