DONE DEAL: Ceriaan Kiara at Mont’Kiara, Kuala Lumpur

Sold for: RM1.1 million (RM498 psf)

Concluded by: Freeman Woo Chee Meng (REN 05026) (012-656 7617) and Fairuz Azhan (REN 16658) (016-222 2533) of MIP Properties

When: April 2016

Noteworthy:
• Freehold, unfurnished and untenanted unit in Block A
• 2,208 sq ft
• 4 bedrooms and 4 bathrooms
• Facilities include cafeteria, barbecue area, playground, gymnasium, spa and jacuzzi, sauna room, swimming pool, games room, multipurpose hall and reflexology path
• Walking distance to Garden International School
• 1km from Plaza Mont’Kiara
• Around 15 minutes’ drive to Kuala Lumpur Golf & Country Club (KLGCC) and Bukit Kiara Equestrian and Country Resort

Ceriaan Kiara is a luxury condominium located in Mont’Kiara, Kuala Lumpur, developed by YNH Property Bhd.

The freehold condominium comprises two blocks of 25 and 26-storey residential towers housing 238 units with built-ups ranging from 1,828 sq ft to 2,208 sq ft.

According to Freeman Woo from MIP Properties — one of the agents who co-brokered the deal — Ceriaan Kiara was launched in 2007 with selling prices averaging RM350 psf. The project was completed in 2009.

The unit, which has a built-up of 2,208 sq ft, was sold for RM1.1 million or RM498 psf.

“Mont’Kiara is one of the most sought-after addresses in the Klang Valley. The current selling price of some developments in Mont’Kiara has exceeded RM1,000 psf, but the new owners of this property had the opportunity to buy this unit at an average price of below RM500 psf,” he said.

He noted that Ceriaan Kiara is a well-maintained condominium with full-fledged facilities and located close to international schools as well as shopping and F&B places such as Plaza Mont’Kiara and Solaris.

“This is also a good investment for buyers who are looking for rental yield as Mont’Kiara is a popular place for expats who are working in Kuala Lumpur. A well-maintained unit could fetch a monthly rental of RM4,000 to RM4,500,” Woo said.

According to data from TheEdgeProperty.com, there were 11 units transacted in 2015. The selling prices averaged RM1,004,000 or RM492.50 psf.

A recent listing dated July 12 in TheEdgeProperty.com showed that a 2,036 sq ft unit in Ceriaan Kiara had an asking price of RM1,088,800 or RM534.77 psf.

On monthly rental, based on 11 listings, the current average asking monthly rent is RM4,582 or RM2.31 psf, translating to an indicative asking rental yield of about 5.7%.

Interested in property investments in Mont’Kiara after reading this article? Click here to check out the properties there.

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