Sold for: RM3.1 million (RM861 sq ft)

Concluded by: Keith Ng (REN 11556) of Prestige Realty (017-888 2595)

When: January 2018

Noteworthy:
● Built-up: 3,600 sq ft
● 4+1 bedrooms and 5 bathrooms
● Mid floor and facing north
● Party furnished

Palmyra Bangsar is a 10-year-old condominium in Bangsar, Kuala Lumpur. This low-density development features just 60 units. It is accessible from the Sprint Highway and Jalan Maarof, and is a mere 15-minute drive from KLCC.

According to Keith Ng, the negotiator from Prestige Realty who closed this deal, both the buyer and seller are expatriates.

“The seller has been staying here for a few years. He is moving back to his country permanently soon. He needs to sort out his assets in Malaysia, including this condo unit,” said Ng.

Meanwhile, the buyer is moving to Malaysia from Australia. He has been searching for a suitable accommodation in the Bangsar area. He liked Palmyra Bangsar for its location and low density.

“The seller was asking more than RM3.1 million, but he was willing to give a little bit of discount in the end because the buyer was serious. It is a willing seller, willing buyer deal,” he noted.

Ng added that the asking price range of a similar unit in Palmyra Bangsar is between RM3 million and RM3.5 million. “It was higher a few years ago when the market was good. But due to the current soft market, sellers are more realistic.”

However, Ng also said that for a partially furnished unit with built-up of 3,600 sq ft, RM3.1 million is a very good deal for the buyer.

According to EdgeProp.my, there are eight listings as at April 18, with asking prices psf ranging from RM912.28 to RM1,000.

Data from EdgeProp.my also shows that the average transacted price psf for Palmyra Bangsar in 2017 stood at RM865.

Interested to buy properties in Bangsar? 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]

 

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