Developed and completed by the Pavilion Group in 2018, Pavilion Suites Kuala Lumpur is a high-end freehold serviced apartment project right next to Pavilion Kuala Lumpur mall and facing the Jalan Bukit Bintang shopping belt.
Arden Estates Sdn Bhd real estate negotiator Eugene Pang said the tenant had been searching for a unit with a full-glass window in Pavilion Suites and didn’t mind paying a higher rental for the unit that comes with an unobstructed city view of KL and a spacious kitchen area.
“This is a good deal for the owner as the concluded rental was 10% higher than the market rate,” he said, adding that the unit was a vacation home for the Hong Kong owner who decided to rent out the unit for some rental income due to the border closures.
According to EdgeProp Research, two units of Pavilion Suites changed hands in 2020 with an average transaction price of RM2.61 million or RM2,179 psf.
As at Feb 2021, 49 units of Pavilion Suites were listed for sale on EdgeProp.my with an average asking price of RM3.04 million or RM3,379 psf. Meanwhile, there were 44 units under rental listings with an average asking monthly rental of RM6,250 or RM6.60 psf.
Planning to buy or sell a home? With EdgeProp's FREE transacted price tool, you can check past transaction prices for any property by name or area and make an informed decision.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates