What KLCC auctions say about the state of the KL high end property market Part 2
Do you think buying interest for high end KL properties has returned? Well today's auctions of two high end units at Pavilion Residences and Ritz Carlton will be a good litmus test whether sentiment has turned.
It will be interesting to see if any bidders turn up. Readers might want to check out the EdgeProp median prices for Pavilion and the Ritz Carlton Residences below:
https://www.edgeprop.my/condo/pavilion-residences-10864
https://www.edgeprop.my/project/the-ritz-carlton-residences-13439
Next week on 22 December, a Mirage Residence unit is going under the hammer at well below RM700psf. You can find out EdgeProp's median price here: https://www.edgeprop.my/project/mirage-residence-10590
And in early January a large 5662sf unit at 3 Kia Peng will be auctioned at just above RM700psf. Check out EdgeProp's median price for 3 Kia Peng below:: https://www.edgeprop.my/condo/3-kia-peng-8574
Post script & disclaimer
I am not a registered REN. If you are interested in buying auction properties, you should get the advice of a BOVEA registered real estate agent or valuer.
There are many FB groups that track property auctions in KL, Penang and Malaysia. The admins are usually RENs who can assist buyers by providing information and bank financing packages. For an example you might want to look at Mylelong Property FB group. OR you can do a Google search for KLCC property auctions.
For my story how I bought a freehold 1500sf auction property in the heart of KL - at the Golden Triangle area of Bukit Ceylon- for RM200psf or 50% lower than what the previous owner paid, see here https://360kiranaresidence.com/klcc-property-news/fc0ztl226t8vmf1y5tejbodx4j155k
