DONE DEAL: Unit at Tropicana Grande Condominium, Tropicana, Petaling Jaya

Sold for: RM2.82 million or RM769.23 psf

Concluded by: Dave Soh of MIP Properties (016-666 4708)

When: September 2015

Noteworthy:
* Leasehold
* Located next to Tropicana Golf & Country Resort
* The unit is located on the 20th floor with an unblocked view of the golf club
* Fully furnished unit
* Built-up area: 3,666 sq ft
* Five bedrooms, one study room and six bathrooms
* 24-hour security.
* About 21km from KL City Centre

Tropicana Grande is a low-density development with 328 units of luxury condominium units. Privacy is ensured as there are only two units per floor, and they are served by a private lift.

This 5.17-acre project comprises four blocks of 38- and 39-storey towers. It offers units with large built-up areas of 2,283 to 6,602 sq ft, with selling prices starting from RM1.5 million.

According to the agent, Dave Soh of MIP Properties, this project was launched in 2010 and the previous owner bought the just sold unit in 2012 at RM2.3 million (RM627.39 psf).

“My buyer fell in love with Tropicana Grande at the first viewing and offered to buy without hesitation. It sold for RM2.82 million, this is one of the highest transacted values on a per sq ft basis,” he says.

The agent notes that Tropicana Grande’s unique resort living lifestyle has attracted many buyers -- after selling off the unit, the former owner bought another smaller unit in the same development for his own stay.

The agent says most tenants in Tropicana Grande are expatriates or high-income earners. Rental for a unit of this size ranges from RM9,800 to RM10,500 per month.

According to data from theedgeproperty.com, there were 16 transactions in Tropicana Grande Condominium, with selling average prices ranging from RM1,828,000 (RM744 psf) to RM2,932,800 (RM799 psf) in 2014.

Based on 327 listings on theedgeproperty.com, the average asking monthly rent at Tropicana Grande Condominium is RM8,111 or RM2.90 psf. Indicative asking rental yield is about 4.6%.

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Click here to check out the price trends at Tropicana Grande.