Sunway Artessa KL condo sold at auction for RM653,000, about 25% below median

A 1,098 sq ft condominium unit at Sunway Artessa in Kuala Lumpur was sold at auction for RM653,000, roughly 25% below the median price. The buyer, a former tenant in the area, plans to personalise the unfurnished unit, which offers KLCC views and is near an LRT station.

A condominium unit at Sunway Artessa in Kuala Lumpur has been sold at auction for RM653,000, a price about 25 per cent below the median for the development. The buyer, who had been renting nearby, saw the property as an ideal home to own and had been waiting for a suitable deal, according to Kenny Lee (REN 18277) of Reapfield Properties Sdn Bhd.

The unit, which has a built-up size of 1,098 sq ft, was sold after being on the market for a month. The buyer was drawn to the property for its location within a low-density development, its high-floor position with a view of KLCC, and its walking distance to an LRT station. As the unit was unfurnished, the buyer also had the flexibility to personalise the space.

Units in the development are rarely found on the auction market because of its low density and the high proportion of owner-occupiers, Lee noted.

A separate transaction dated 18 May saw another Sunway Artessa condominium unit with a built-up size of 1,098 sq ft sold at RM781,000, reflecting a price of RM711.29 psf, according to EdgeProp EPIQ data.

As of mid-October, based on 13 sale listings on EdgeProp of condominium units at Sunway Artessa, the average asking price was RM898,308, or RM744.89 psf, based on built-up sizes ranging from 1,108 to 1,303 sq ft. Based on 22 rental listings, the average asking monthly rate was RM3,861.36, or RM3.29 psf, based on built-up sizes ranging from 1,098 to 1,303 sq ft.