Park Seven is a freehold condominium located in the heart of KLCC, Kuala Lumpur.

Developed by Selangor Dredging Bhd (SDB Properties), it was completed in March 2008. The condominium offers 105 units with built-up areas ranging from 2,257 sf to 4,427 sf.

Subsale Market Analysis

1. Transaction Prices

Median Transacted Price: The median transacted price for Park Seven is RM 2,667,000, with a median price per square foot (psf) of RM 972[5].
Price Range: Recent transactions show prices ranging from RM 2,500,000 to RM 4,380,000, with psf prices between RM 929 and RM 1,016[5].
Specific Transactions:
- A 4-bedroom unit with a built-up area of 4,349 sq. ft. was sold for RM 4,380,000 (RM 1,007 psf) on 12/09/2024.
- A 5-bedroom unit with a built-up area of 4,424 sq. ft. was sold for RM 4,300,000 (RM 972 psf) on 05/08/2024[5].

2. Rental Prices

Rental Range: Rental prices for Park Seven range from RM 9,000 to RM 25,000 per month, depending on the unit size and layout[2][3].
Specific Rentals:
- A 3-bedroom unit with a built-up area of 2,777 sf was rented out for RM 10,500 per month[3].
- Larger units with built-up areas of 4,427 sf and 5,490 sf were rented out for RM 15,000 and RM 25,000 per month, respectively[2].

3. Rental Yield

Current Rental Yield: The current rental yield for Park Seven is around 4.0%, compared to 3.74% in Q2 2023. The highest recorded rental yield was 5.26% in Q2 2022, while the lowest was 3.46% in Q4 2022[2].

4. Market Insights

Market Trends: The KLCC area, where Park Seven is located, has seen a slight downward trend in serviced apartment prices due to high supply, with prices decreasing by 5% to 14%[1].
Demand: The demand for non-landed residential properties in KLCC is higher than for landed properties, with the majority of buyers being investors and foreigners[1].
Pricing Disparity: There is a significant disparity in pricing between new and existing supply in KLCC, with new launches going for RM 1,500 to RM 2,000 psf, while existing supply can be as low as RM 600 psf[1].

Sources: