DONE DEAL: Koi Kinrara serviced apartment, Bandar Puchong Jaya, Puchong

Sold for: RM438,000 or RM409psf

Concluded by: Stanley Hang of MIP Properties (012 735 5110)

When: Nov 15, 2015

Noteworthy:
* Freehold
* Block B
* 1,072 sq ft, three bedrooms and two bathrooms
* Cafeteria, restaurant, squash court, gymnasium, sauna room, wading pool, children’s playground, business centre and function room
*IOI Mall and future MRT station within 5 to 6-minute drive; IOI Boulevard, Columbia Hospital, Tesco and Setiawalk nearby; easy access to Bandar Sunway through Damansara-Puchong highway.

Koi Kinrara is a serviced apartment in Kinrara, Bandar Puchong Jaya. The 20-storey development comprises 1,000 units with built-ups ranging from 908 sq ft to 3,164 sq ft.

According to the real estate negotiator, Stanley Hang of MIP Properties, Koi Kinrara was launched in 2009 and completed in 2012. The selling price of phase one starts from RM147,000 and for phase two from RM250,500.

“This unit is considered a good deal as it is fully furnished – with renovated kitchen cabinet, sofa, dining table and built-in cabinet,” he said.

Hang noted that the buyer decided to purchase the unit after the first viewing as the property is well maintained and reasonably priced.

The previous owners wanted to sell the unit as they were moving to a house in Puchong. The selling price was a good deal for them as they purchased the unit at below RM200,000 from the developer.

“Koi Kinrara is one of the popular serviced apartments in the Puchong Jaya area as it is in a good location in Jalan Pipit. Current selling prices are between RM400,000 and RM600,000. Koi Kinrara is considered an affordable option for prospective owner-occupiers.”

According to data from TheEdgeProperty.com, there were nine units with built-ups ranging from 1,076 to 1,410 sq ft transacted in 1Q2015, selling at an average price of RM474,889 or RM388psf.

Looking back at 2013 to 2014, the average transaction price of Koi Kinrara has seen double-digit growth y-o-y. The average transaction price in 1Q2013 was RM382,556, and it rose to RM471,724 in 4Q2013. Notably, there were 68 transactions in 4Q2013, while 143 units were transacted for 2013.

For 2014, the data shows that there were 49 transactions in Koi Kinrara, with the average selling price ranging between RM441,444 and RM513,617.

According to listings on TheEdgeProperty.com that were posted this month, a fully-furnished mid-level unit at Koi Kinrara had an asking price of RM450,000 -- a negotiable sum that the agent claims is already below market price -- while a partially-furnished unit had an asking price of of RM465,000.

Interested in property investments in Bandar Puchong Jaya 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]