DONE DEAL: Duplex unit in Scott SOHO, Scott Garden, Kuala Lumpur

Sold for: RM480,000

Concluded by: Janet Chong of Hartamas Real Estate (OUG) (012-318 8099)

When: August, 2015

Noteworthy:
* Freehold
* 775 sq ft
* one bedroom and two bathrooms
* come with one parking, kitchen cabinet, three air-cons and two water heaters.
* Commercial title

Scott SOHO is one of the most sought after developments along Old Klang Road. According to the agent, Janet Chong of Hartamas Real Estate, the asking price for the duplex unit actually went up to RM520,000 last year.

Chong observed that there were more transactions this year at Scott SOHO as many of the buyers were investors, so “due to the slow market, more investors cashed out”.

“I think now is a good time to grab a unit. This project provides good return on investment. The average rental per month is between RM1,800 to RM2,000,” said Chong.

She said the average transacted price for a similar unit is between RM470,000 (partly furnished, which includes air-conditioning units, cabinets and water heaters) and RM490,000 (fully furnished with furniture and electrical appliances). The above-mentioned unit was sold to a medical doctor.

“This is a purchase with a tenancy deal, where the buyer receives RM2,000 rental per month as soon as the sales and purchase agreement is signed,” the agent said.

The Scott SOHO is a three-tower condominium project with a total of 1,080 units. Their built-ups range from 775 sq ft to 1,905 sq ft with [double volume high ceiling] and glass windows, which allow maximum light inside. The condos are above a three-storey retail podium that houses a number of eateries and a Tesco hypermarket. The entire development is known as Scott Garden.

The development is well-connected with a few highways such as Bukit Jalil Highway, KL-Seremban Highway, New Pantai Expressway and KL-Putrajaya Link.

According to data from theedgeproperty.com, the average transacted price of Scott SOHO is RM630 psf in 1Q2015, based on one transaction, compared with RM620 psf in 4Q2014, based on nine transactions. A year ago, prices psf averaged RM591 based on eight transactions.

Average prices per unit in 1Q2015 was RM488,000 for a 775 sq ft unit transacted, down from an average of RM521,667 in the previous quarter and RM490,000 from a year ago.

Meanwhile, the average asking monthly rent at Scott SOHO is RM2,077, with an indicative asking rental yield of 4.89%, based on 485 listings.

Click here to check out more properties on Old Klang Road.

Editor: To real estate agents -- if you have concluded an interesting deal recently, we would love to hear from you! Contact us at [email protected]