DONE DEAL: Verve Suites at Mont'Kiara, Kuala Lumpur

Sold for: RM1.1 million (RM1,187 psf)

Concluded by: Ken Lai Kian Yoong (REN 04845) of QO Properties Sdn Bhd (017-606 9056)

When: July 15, 2016

Noteworthy:
* Freehold
* 926 sq ft
* Two bedrooms and two bathrooms
* Facilities include Versilica sky beach, Sky Lounge, tennis court, indoor and outdoor theatres
* Close to Verve Shops, Plaza Mont’Kiara, Publika, One Mont’Kiara; Garden International School
* About 12km from KL City Centre (25-minute drive in smooth traffic conditions)

The 5.87-acre Verve Suites is a high-end, serviced apartment located at Jalan Kiara 5, Mont’Kiara, Kuala Lumpur. This freehold development comprises four residential towers of 881 designer suites with built-ups of between 462 and 1,394 sq ft.

According to the agent, Ken Lai Kian Yoong from QO Properties Sdn Bhd, the unit is in Vogue Tower, the third block. The unit is also brand new and has never been occupied before.

“The owners purchased the unit for their own stay, but after the project was completed, they decided to move to another home with bigger space. This is the reason the unit was left vacant. However, routine cleaning was done regularly which kept the unit in good and clean condition,” he explained.

Lai said when Vogue Tower was launched in 2008, the selling price averaged at RM1,000 psf.

In comparison, the deal was sealed for RM1.1 million or RM1,187 psf.

According to data from TheEdgeProperty.com, there were 45 units sold at an average price of RM843,519 or RM1,146.50 psf last year.

Based on 169 listings from TheEdgeProperty.com, the average asking monthly rent is RM3,554 or RM5.06 psf, putting the indicative asking rental yield at about 5.3%.

Interested in property investments in Mont’Kiara after reading this article? Click here to check out the properties there.

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]