DONE DEAL: 28 Mont’Kiara, Kuala Lumpur

Sold for: RM1.9 million or RM750psf

Concluded by: Chris Ng Hong Hooi of GMAC Realtors (019-6148656)

When: January 2016

Noteworthy:
*Freehold
*2,535 sq ft
*Maintenance fee of 28 sen psf
*Two blocks of 40-storey condos
*Completed in 2012
*Partly furnished with kitchen cabinets, refrigerator
*Private lift lobby for each unit
*Popular because it is less than 100m away from the Mont’Kiara International School

According to the agent, Chris Ng Hong Hooi of GMAC Realtors, there are many transactions in 28 Mont’Kiara or MK28. “It is one of the few condos that come with full condo facilities, private lifts and located at the centre of Mont’Kiara.

“This particular unit was sold slightly lower than the market price, as the vendor was seeking for a fast sale. The unit was also sold with good rental yield,” added Ng. Units at MK28 are rented out for RM6,500 to RM12,000 a month, depending on their condition.

Units at MK28 are competitively priced against similar condos in the area. “As of October 2015, prices of units at MK 11 are between RM750 and RM880psf, while units at SENI are between RM750 and RM900psf.

“Meanwhile, prices recorded at MK10 and Kiaramas Damai are between RM850 and RM900 psf, and RM850 and RM950 psf, respectively,” said Ng.

According to the latest data by TheEdgeProperty.com, there were five transactions at MK28 with an average price of RM785psf or RM2.06 million in 1Q2015. The data covered transactions of units with built-ups ranging from 1,475 sq ft to 4,085 sq ft.

The data revealed that the average price psf at MK28 was the highest in 2Q2012, at RM821psf or RM2.47 million per unit. However, average prices psf dropped to RM706psf, or RM1.89 million per unit in 2Q2013.

The rest of 2013 witnessed average prices psf at MK28 rising, going up to RM749psf, or RM2.05 million per unit in 4Q2013. There was a slight drop in 1Q2014 to RM723psf, or RM1.88 million. However, the data revealed that the average price psf at MK28 had been increasing consistently from 2Q2014 to 1Q2015.

Listings on TheEdgeProperty.com revealed that the average asking monthly rent in MK28 is RM8,870, or RM3.23psf (2Q2014 to 1Q2015), generating an indicative yield of 5.1%.

Current listings also show that the latest asking prices are between RM1.35 million and RM6.47 million for units with built-ups of 1,000 sq ft to 6,000 sq ft.

Interested in other properties in Mont'Kiara? Click here to check them out.

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