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

Sold for: RM1 million (RM547 psf)

Concluded by: Fairuz Azhan (REN 16658) (016-222 2533) of MIP Properties and Casper Yee (REN 13384) (016-259 1812) of HASB Consultants

When: September 2016

Noteworthy:
● Freehold
● Partially furnished
● Built-up area: 1,828 sq ft
● 3+1 bedrooms and 3 bathrooms
● High floor unit
● Fully renovated

Developed by YNH Property Bhd, Ceriaan Kiara is a freehold luxury condominium situated in Mont’Kiara, Kuala Lumpur.

The partially-furnished unit with a built-up of 1,828 sq ft was sold for RM1 million or RM547 psf.

“Given that this unit is a high floor unit, fully and tastefully renovated, and came almost fully furnished, I would say the price is right on,” said one of the agents who co-brokered the deal, Fairuz Azhan from MIP Properties.

“Ceriaan Kiara is highly sought after by people who want extra space, and at roughly RM500 to RM550 psf, Ceriaan Kiara — in my opinion — is always a frontrunner for buyers looking for spacious units without having to pay premium prices in Mont’Kiara.

“Another thing that people like about Ceriaan Kiara is its unit’s layout. The layout is square, therefore it doesn’t have any funny edges or beams, so the square footage is really maximised,” he said.

Fairuz added that the buyer of the unit is an expat who is working as an engineer and has been living in Malaysia for more than six years.

“He was renting a unit in Mont’Kiara and decided to buy this unit as a permanent home to raise his family.

“The seller who had occupied the unit is also an expat who is looking to return and retire in his home country,” Fairuz told TheEdgeProperty.com.

Based on data from TheEdgeProperty.com, in 1H2016, 10 deals were transacted at an average price of RM1.23 million or RM546 psf. Meanwhile, the average asking price based on 58 sale listings is RM1.2 million or RM550 psf.

Based on 38 listings, the current average asking monthly rent is RM4,418 or RM2.22 psf, translating to an indicative rental yield of about 5%.

Interested to buy properties in Mont’Kiara? 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]