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

Sold for: RM1.88 million (RM823.48 psf)

Concluded by: Sean Inn (REN 18479) of Propstar Realty (012-287 6600)

When: February 2018

Noteworthy:
● Leasehold
● 2,283sq ft
● 3 + 1 bedrooms and 4 bathrooms
● Partly-furnished with air-conditioning units, cooking hood, walk-in wardrobe and water heaters
● High floor unit that offers unobstructed views of Tropicana Golf Course
● Comes with a private lift lobby and two car parking bays

Developed by Tropicana Corp Bhd, Tropicana Grande is a high-end, low density condominium development with 328 units that offer spacious built-up areas of 2,283 to 6,602 sq ft.

Sitting on a 5.17-acre leasehold site, the development comprises four 38- and 39-storey towers that overlook the Tropicana Golf Course.

According to Sean Inn of Propstar Realty who concluded the deal, the buyer is a corporate director who fell in love with the breathtaking view and bought it for their own stay.

“The seller is an investor who purchased the unit at about RM1.88 million and spent some RM90,000 on interior design. He had been leasing the unit out for four-and-a-half years before deciding to sell this unit,” he said.

The seller was asking for RM1.95 million but after a few rounds of negotiations, both parties reached an agreement at RM1.88 million, he added.

Inn also pointed out that the rental demand for condos in Tropicana Grande had spiked after the completion of the Saint Joseph International School.

“There is an emerging demand from both expatriates and local directors. A partly-furnished unit with the same built-up of 2,283 sq ft can fetch a monthly rental of RM6,500,” he said.

Based on the 161 sales listings on EdgeProp.my, the average asking price for condominiums in Tropicana Grande is RM2.3 million per unit or RM808 psf, while the average asking rental price is RM8,287 per unit or RM2.92 psf, according to 104 rental listings, as at March 21. This translates into an indicative rental yield of 4.4%.

Interested to buy properties in Tropicana? Click here.

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