DONE DEAL: Saville Melawati serviced apartment in Taman Desa Melawati, Kuala Lumpur

Sold for: RM510,000 or RM506 psf

Concluded by: Jack Tian of Hartamas Real Estate (OUG) Sdn Bhd (016 434-4681)

When: Aug 26

Noteworthy:
*1,007 sq ft
* Freehold
* Serviced apartment
* 3 bedrooms, 2 bathrooms
* 3.2km to tourist attraction Bukit Tabur
* 24-hour security
* close to Kuala Lumpur Middle Ring Road 2 (MRR II)
* developed by Perkasa Bermas (Metro Kajang Group subsidiary)
* in walking range of three schools (SMK Wangsa Melawati, SRA Islahiyah and SK Kg Klang Gate)
* close to Wangsa Maju RapidKL station

According to the agent, Jack Tian of Hartamas Real Estate (OUG) Sdn Bhd, the property is attractive to owners and investors due to its "reasonable" price. The project has a strategic location with nearby amenities like the Desa Melawati commercial centre which features restaurants and a supermarket.

What is notable about this project is its good connectivity via the Kuala Lumpur Middle Ring Road 2 (MRR II) that facilitates travelling to Kuala Lumpur City Centre (KLCC), Kuantan, Genting Highlands or the north.

A search for past transaction data at theedgeproperty.com shows that two units at Saville Melawati were sold at an average of RM553 psf or RM612,000 based on two transactions.

The first unit sold in January 2015 had a transacted price of RM630,000 or RM513 psf, while the second, transacted in February 2015, was sold for RM594,000 or RM593 psf.

However, details of these units such as their facing and levels are not immediately known.

In comparison, two units were transacted in 4Q2013 at an average lower price of RM502 psf or RM502,500. Prices then moved up before dipping in 2Q2014 to an average RM493 psf or RM543,000 per unit.

On the rental market, based on listing data on theedgeproperty.com, the average asking monthly rental was RM1.80 psf between 2Q2014 and 1Q2015. This gives an indicative asking gross rental yield of 4.1%.

Do not ask your sister-in-law about the value of your home. Click here at The Edge Reference Price to find out.

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