The Park Residences is a leasehold condominium located in Bangsar South, Kuala Lumpur.

Developed by UOA Development Bhd, it was completed in 2011 and comprises 470 units across two blocks, Acacia and Begonia, with built-up areas ranging from 1,260 sqf to 3,413 sqf.

Sub-Sale Market Analysis

1. Transaction Price:

Median Price: The median price for a 3-bedroom unit with a built-up area of 1,485 sqf is approximately RM670 psf, translating to a total price of around RM950,000 to RM1,200,000[2].
Price Range: The sale prices for units in The Park Residences vary, with recent listings showing prices from RM850,000 for a 1,265 sqf unit to RM1,550,000 for a 1,910 sqf unit[2].
Historical Data: The launch price was about RM340 psf, indicating a significant appreciation in value over the years[2].

2. Rental Price:

Rental Yield: The current rental yield is around 4.71%, with the highest recorded yield being 5.88% in Q4 2023 and the lowest being 3.6% in Q1 2023[2].
Rental Rates: Recent rental listings show rates from RM3,500 for a 1,485 sqf unit to RM6,500 for a 2,160 sqf unit[2].

3. Market Analysis:

Market Trend: The property market in Bangsar South has seen steady growth, with The Park Residences being one of the pioneering luxury high-rises in the area[3].
Comparative Analysis: When comparing The Park Residences with other properties in the vicinity, such as Bangsar Trade Centre and Saville @ The Park, it is evident that The Park Residences maintains a competitive edge in terms of price and rental yield[3].

4. Key Points:

Location: Strategically located near the Universiti LRT Station and opposite The Sphere, an open concept shopping mall[3].
Developer: Developed by UOA Development Bhd, a reputable property developer with numerous projects in Malaysia[2].
Facilities: Offers a range of luxury condo facilities, including a well-equipped gymnasium, infinity edge swimming pool, and 24-hour security system[1].

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