Jointly developed by Ireka Group via Aseana Properties Ltd and CapitaLand Finance from Singapore, SENI Mont Kiara is a luxury condominium project located in the affluent Mont’Kiara neighbourhood, Kuala Lumpur.
The condominium comprises two 40-storey towers and two 12-storey low-rise blocks housing 605 units in total.
ILP Realty real estate agent Kevin Teh said the foreigner landlord was looking for a new tenant for this unit after the previous tenant had moved out. He understood the current challenging market condition and was willing to offer a special rate to attract quality tenants.
Meanwhile, the tenant liked the unit for it being a high-floor unit that has unobstructed view across the KL skyline. He was also given the option to rent the unit with brand new furnishings, which would be included in the rent.
He opined that it was a good deal as the tenant was happy with the new furnishings and the owner was happy with the tenant profile.
According to EdgeProp Research, 10 units in SENI Mont Kiara were transacted in 2020 at an average price of RM2.35 million or RM793 psf. Meanwhile, 33 transactions were recorded in 2019 with an average price of RM2.38 million or RM776 psf.
As at Feb 2021, there were 56 units of SENI Mont Kiara listed for sale in EdgeProp.my at an average asking price of RM2.42 million or RM823 psf. At the same time, 67 units were looking for tenants at an average asking monthly rental of RM8,698 or RM3.52 psf.
[SOURCE: https://www.edgeprop.my//content/1809128/done-deal-condominium-seni-mont-kiara-montkiara-kuala-lumpur ]
Seni Mont Kiara is a luxury condominium project jointly developed by CapitaLand Financial from Singapore and Ireka Group via Aseana Properties Ltd. The condominium comprises two 40-storey towers and two 12-storey low-rise blocks housing 605 units in total.
ILP Realty real estate agent Kevin Teh said the landlord had planned to retire in his hometown and so, decided to rent out the unit.
“The landlord was the first-hand buyer and had occupied the unit all the while. It was a very well-kept and clean semi-furnished unit with unblocked view, which ticked all the requirements of the tenant, who worked in a multinational company,” Teh noted.
He added that the landlord preferred a quick deal with a reputable international company for a corporate lease, for which the tenant met the requirements.
According to EdgeProp Research, 10 units in Seni Mont Kiara were transacted in 2020 at an average transaction price of RM2.35 million or RM793 psf. Meanwhile, 33 transactions were recorded in 2019 with an average transaction price of RM2.38 million or RM776 psf.
As at mid-January 2021, there were 50 units of Seni Mont Kiara listed for sale in EdgeProp.my at an average asking price of RM2.43 million or RM827 psf. At the same time, 75 units were looking for tenants at an average asking monthly rental of RM8,832 or RM3.65 psf.
[source: https://www.edgeprop.my//content/1797161/done-deal-condo-unit-seni-mont-kiara-mont%E2%80%99kiara-kuala-lumpur ]
Solaris Dutamas is a mixed development with residential, retail and office components developed by UEM Sunrise. Located on Jalan Dutamas 1, Kuala Lumpur, Solaris Dutamas is in the vicinity of several affluent neighbourhoods such as Mont’Kiara, Sri Hartamas and Damansara Heights.
Kevin Teh from Polygon Properties said the two side-by-side shop units, which have a combined built-up size of 2,500 sq ft, were rented to one tenant who was looking for a space of over 2,000 sq ft.
“The tenant wanted a prime spot near Mont’Kiara with easy accessibility to run a boutique real estate business,” he said, adding that the tenant found the asking prices reasonable amidst the current market situation.
Teh deemed this as a good deal, as the tenant was able to find the ideal spot for his business, while the landlords were also able to secure a long-term tenant.
As at end-November, there were 10 shop units listed for rental on EdgeProp.my’s property portal, with an average asking rent of RM9,650 or RM7 psf. There were also 28 units looking for buyers, with an average asking price of RM3.55 million or RM2,640 psf.
According to data from EdgeProp Research, two shop units in Solaris Dutamas were sold in 2020, with an average price of RM3.08 million or RM1,831 psf. In 2019, six units changed hands, with an average price of RM2.63 million or RM2,096 psf.
Rented for: RM12,800 (RM 3.45 psf per month)
Concluded by: Kevin Teh (REN 02206) (013-5557333) of Propstar Realty
When: December 2019
● Mid-floor unit
● Built-up: 3,714 sq ft
● 4 bedrooms; 6 bathrooms
● Fully furnished
● Facilities: Art gallery, tennis and squash courts, pool deck, Olympic-sized swimming pools, Jacuzzis and sculpture garden
● Nearby amenities: International schools, medical centres, golf clubs, shopping malls, commercial hubs and offices
SENI Mont’Kiara is a luxury condominium project jointly developed by Ireka Group via Aseana Properties Ltd. The condominium comprises two 40-storey towers and two 12-storey low-rise blocks housing 605 units in total.
Besides its resort-like ambience and ample facilities, there are also international schools, shopping malls, medical centres, F&B outlets and offices within a 5km radius of the project. The project is well connected by highways such as the North-South Expressway, DUKE highway and Penchala Link.
Propstar Realty’s Kevin Teh who brokered the rental deal said the owner was seeking to rent the unit out as he has moved and upsized to a larger house while it was vice versa for the tenant, who was looking for a smaller abode.
“The unit has always been well taken care of as it was occupied only by the landlord himself,” Teh told EdgeProp.my adding that the unit is also one of the best-looking units in SENI Mont’Kiara, offering sweeping views of the KL city skyline.
“Plus, the tenant also liked the unit due to its mid-high floor location and position facing KLCC,” said Teh, noting that the unit was taken up within weeks of listing.
According to data from EdgeProp Research, as at July 15, 2020 there were 77 rental listings for SENI Mont’Kiara with asking rents ranging from RM6,800 (RM2.82 psf) to RM13,500 (RM3.81 psf) per month.
Meanwhile there were 65 sale listings asking for an average price of RM2,361,744 or RM824 psf. A total of 234 units at SENI Mont’Kiara were sold from 2015 to 2019 at prices ranging between RM1 million and RM8 million.
PETALING JAYA (April 10): With more properties at below market prices expected to come up for sale amid the dampened property market brought on by the sluggish economy and Covid-19 outbreak, many property investors are preparing to seek good buys.
Nevertheless, PropStar Realty senior real estate negotiator Kevin Teh reminded property investors that real estate is a long-term investment hence they should first check their financial health before putting their money into a new purchase.
“Usually, there is this mindset that the first property one buys is for own stay. Subsequent ones for investment. If it’s for your own stay, you won’t care whether the market is going up or down.
“However when it comes to your subsequent purchases for investing purposes, the question to ask is: ‘can you wait?’ If you can, then buy now, provided that you are financially stable,” said Teh during the EdgeProp.my Fireside Chat on “Undervalued Properties: Opportunities, or Risk?” on Facebook Live today.
On the other hand, there may be those who are reluctant to make any purchases as they are afraid that the market may crash or hit bottom in the near future. To them, Teh said an investor should always consider the long-term value of the property.
“Property prices will eventually go up. Historically, on the average, a property’s value will sort of double over 10 years. It’s not an overnight thing. Besides, if they were to wait, they may let a good opportunity pass them by,” he added, stressing that real estate investments are more stable and not as volatile as other forms of investments such as the stock market.
For the full report on the Fireside Chat read the April 17, 2020 issue of Edgeprop.my pullout.
PETALING JAYA (April 10): With the current Covid-19 pandemic and economic situation impacting the country and globally, is the real estate industry irrelevant and a total crash and gloom? Or are there property gems out there buyers can take advantage of?
To discuss these issues, EdgeProp.my organized a LIVE Fireside Chat which took place today at 2pm on EdgeProp’s Malaysia Facebook Page titled Undervalued Properties: Opportunities or a Risk touched on the secrets to buying undervalued properties, what’s out there in the market and how you can make informed decisions on your purchase.
The online event received more than 10,000 views with many posing questions which were answered live by the guest experts during the event. They were Propnex principal and chief operating officer Evon Heng, Kith & Kin Realty co-founder Freeman Woo, Rescom Realty & PEHAM Exco team leader Mohd Faizal Mohd Ismail and Propstar Realty senior real estate negotiator Kevin Teh, the chat was moderated by EdgeProp Malaysia managing director and editor-in-chief Au Foong Yee.
“We are living in interesting times, a time that is beyond the wildest imagination of anyone throughout the world. Such as the current economic and investment landscape. Bank Negara Malaysia expects GDP growth in 2020 to range from -2% to 0.5%. World Bank has recently revised its projected growth for Malaysia, from 4.5% to -0.1%,” said Au kicking off the live chat session.
She recalled that during the global financial crisis in 2008, despite negative Gross Domestic Product (GDP) growth, house prices in Malaysia continued to rise steadily.
“Before you think about popping the champagne, getting out of the current economic woes is a lot trickier. Why? Because it involves a life-threatening health crisis that is affecting people all across the globe. Will the Malaysian housing market crash? Is it going to be total gloom? Or, are we staring at once-in-a-lifetime investment opportunity?” she asked before inviting the real estate agents to showcase some of the undervalued properties available in the market currently.
For the full report on the Fireside Chat read the April 17, 2020 issue of Edgeprop.my pullout.
Rented for: RM13,000 (RM3.82 psf)
Concluded by: Kevin Teh (REN 02206) (013-5557333) of Propstar Realty Sdn Bhd
When: November 2019
● Built-up: 3,401 sq ft
● High floor unit
● 4 bedrooms and 5 bathrooms
● Facilities: Art gallery, tennis court, pool deck, water pavilion, Jacuzzis and Olympic-sized swimming pools
● Nearby amenities: Shopping malls, international schools, medical centre, commercial hub and offices
Seni Mont’Kiara is a freehold luxury condominium in the expat enclave Mont’Kiara developed by Amatir Resources Sdn Bhd (a member of London-listed Aseana Properties Ltd) under the i-Zen development series.
The development comes with two 40-storey, high-rise blocks and two 12-storey low-rise blocks housing a total of 605 units and 2,000 parking bays.
It also features an art gallery, lush landscaping based on an island concept, two Olympic-sized swimming pools, tennis court, Taichi and yoga station, Jacuzzi and glass lifts.
The project has easy access to main roads and amenities such as international schools, shopping malls, medical centres, F&B outlets and offices within a 5km radius.
In terms of connectivity, residents could travel to KL city centre or the rest of Klang Valley via the North-South Expressway, Duta-Ulu Klang Expressway (DUKE) and Penchala Link.
According to the agent, Kevin Teh from Propstar Realty who concluded the rental deal, this 3,401 sq ft unit was left vacant just a few weeks before he brought the tenant for viewing.
“The tenant liked it straightaway after the first viewing as it is clean and well-maintained. It is also partially furnished with kitchen cabinets and air-conditioners,” he said.
In fact, Teh added that the tenant liked it so much that he offered a premium for it, which turned out to be a win-win deal for both tenant and landlord.
“The tenant was also looking to move in urgently, while the owner received a slightly higher rent than the market rate,” said Teh.
According to EdgeProp.my data, there were 46 rental listings with an average asking rental of RM9,593 per month or RM3.30 psf as of end March 2020.
Past transaction data showed a total of 243 units at Seni Mont’Kiara have been sold from 2015 to 2019 at prices ranging between RM2.3 million to RM2.5 million, or RM751 to RM795 psf.
As at March 2020, there were 61 units listed for sale on EdgeProp.my, with the average asking price at RM2.4 million or RM837 psf.
Rented for: RM9,000 per month (around RM4.32 psf)
Concluded by: Kevin Teh (REN 02206, 013 555 7333) of Propstar Realty
When: October 2019
● Two-year lease with an option to renew for another two years
● Mid-floor unit with built-up of 2,083 sq ft
● Semi-furnished and nicely renovated with partitions, fixtures and lights
● Located next to Publika Shopping Gallery and close to amenities such as banks, clinics, eateries and mosque
● Easy access to Jalan Tuanku Abdul Halim, Duta-Ulu Klang Expressway and Jalan Kuching, around 10km to KL city centre and Mont’Kiara
Solaris Dutamas is a freehold integrated development developed by UEM Sunrise Bhd, comprising office towers, residences and Publika Shopping Gallery. It is just a stone’s throw from Mont’Kiara and about 10 km from Kuala Lumpur city centre.
Completed in 2010, offices in Solaris Dutamas are situated in a bustling location where a host of amenities can be found within a few minutes’ drive.
According to Kevin Teh of Propstar Realty who concluded the rental, the landlord had just become the new owner of this unit and proceeded to rent it out.
The tenant has been operating a business in the same area and was looking for a larger office space for expansion. The tenant was earlier considering another smaller unit, but the deal didn’t materialise, said Teh.
“Then I found them this bigger unit at a lower psf rental rate. They liked it and immediately placed an offer,” he elaborated.
He noted that the average rent for offices in Solaris Dutamas ranges from RM4 to RM5.50 psf, depending on the condition and furnishing.
As of March 5, 2020, the average asking rent for office units in Solaris Dutamas stood at RM4.21 psf, based on 45 rental listings on EdgeProp.my.
Meanwhile, 28 sale listings on the property portal showed units here asking for RM2.54 million or RM1,266 psf on average.