DONE DEAL: Condominium unit, 10 Mont’Kiara, Kuala Lumpur
Rented for: RM12,000 per month (RM3.27 psf)
Date: December 2018
Concluded by: Kevin Teh (REN 02206, 013-555 7333) and Ceryn Ho (REN 13390) from Propstar Realty
● Built-up: 3,668 sq ft
● 4+1 bedrooms and 5 bathrooms
● Comes with 3 carpark bays
● Party furnished unit
● High floor with unobstructed Mont’Kiara views
10 Mont’Kiara, or better known as MK10, was the last condominium built by Sunrise Bhd before it was taken over by the then UEM Land Holdings Bhd in 2010. The two-block condominium was completed in 2009. There are four standard units per floor varying in sizes from 3,478 psf to 4,090 sq ft.
According to Kevin Teh, the agent who co-brokered the rental deal, the landlord is a property investor who owns a few properties in Mont’Kiara.
“The landlord was asking for RM13,500 per month with no negotiation for this partly furnished unit. However, when there were no takers after a few weeks, he was open to negotiations.
“Meanwhile, the tenant was looking to rent a unit at MK10 for his family. He made an offer of RM12,000 per month. The landlord took the offer after he had checked the tenant’s profile and found that he as a reputable tenant with good payment record.
“The tenant requested the landlord to change the unit’s lights and he agreed,” Teh said, adding that the tenant owns a business in Mont’Kiara.
Teh said this deal is a rare one as MK10 is a premium condominium project. Most of the unit owners at MK10 are either owner-occupiers or strong investors with good holding power.
“This transaction is a rare as MK10 owners do not easily lower their asking rents because they have strong holding power. At the same time, only certain tenants and buyers can afford MK10 so, there are not many transactions at MK10,” Teh shares.
According to EdgeProp.my’s data, as at June 11, 2019, the asking price for a unit at MK10 ranges from RM270 psf to RM592.45 psf while the average asking rental ranges from RM2.53 psf to RM3.68 psf.