KL auction property market update #9 - The Troika @RM863 PSF

Its been sometime since I last posted am auction property market update. But my auction agent “J” has just Whatsapped me details of a 2142 SF Troika unit going under the hammer for just RM863 PSF tomorrow. Designed by the world famous Foster & Partners group, the Troika is my personal benchmark of a KLCC 5* condominium with its iconic building facade, and proximity to the KLCC Suria shopping mall and MRT stations.

With average asking prices of just under RM1000 PSF for other Troika units , I wonder if there will be bidders for the 2142 SF unit on the 28th floor tomorrow. Auction buyers generally look to pick up properties at around 20% to 30% below current market value. If there are no buyers tomorrow the price is likely to be cut to below RM800 PSF, well below its launch price of RM920 PSF in 2010.

The EdgeProp Analytics chart shows rents at the 4 bedroom units arTroika have fallen sharply in recent years to around RM10,000 pm

Disclaimer

I am not a registered real estate agent with BOVEA. If you are considering buying a auction property you should consult a BOVEA registered valuer or real estate agent.

For my previous KL Auction Property Market Updates, check out my property blog 360 KLCC - “Insights Perspective & Analysis for the KL property market”