The Elements @ Jalan Ampang, KL address. 5km to KLCC.
Launching price back in 2012, refer sales chart below:



Now you can get lelong unit at below 700k.
Not 1 unit. But 3 units available. All around same pricing.
S&P price from 1.2M++. Almost 50% off you can get today.
KLCC facing unit (same floor unit) more expensive by 93k!!! Now ended up block without any view. 

Got it. So more relateable investment-wise, it would be present day market/transacted price ?

Penang rental yield sucks big time as usual...

Low rental yield, but I thought most ppl treat it as additional side income while waiting for the main capital appreciation of the prop over longer term.

Owner bought subsale 520k in 2018.

Not according to epf data.

According to wealth reports, only about 4% of adults in this country have over us$100k net worth.

Yes, according to a investment bank wealth reports.

for reasons, household debts in this country is among the highest in the region.

I’m not saying all KLCC property are the same. There was a lot of leverage here to bargain since this property is facing the kampung baru mrt and u can complain about noise etc. Ultimately, the rent is just used to pay for management fees which for these types of units are like 50c psf or more.

After 2 years of vacancy, most owners will just hire the bullet and take what they can get. It’s truly a buyer’s/tenant’s market.

https://www.theedgemarkets.com/article/stat...pfs-t20-members

malehsians are poorer than most expected.

I do agree with that, but ppl keep on telling me, they are flipping it like hamburger, each time flip, 200K - 300K in pocket....must be nonsense

A sharp drop that tells it all

To illustrate the gravity of this issue, consider a mixed development in Kota Damansara. Launched in 2016 with an average pricing of RM750 per sq ft (psf), units in this development are now reselling for as low as RM268 psf since their handover in 2020. This represents a staggering plunge of up to 64% in value in one of the Klang Valley’s more prominent and desirable addresses.

How does such a dramatic devaluation occur? The answer lies behind the scenes, obscured by a web of undisclosed rebates, inflated loan approvals and pricing tactics designed to mask the real transaction value. Alarmingly, this is not an isolated incident. This deceptive pattern is increasingly spreading across the broader Malaysian property market, turning a blind eye to genuine market fundamentals.

What initially began as seemingly well-intentioned tools to enhance affordability such as rebates, cashbacks and zero-entry packages have gradually mutated into a pervasive mechanism that profoundly distorts the market. The playbook for this distortion is alarmingly simple yet highly effective:

https://www.starproperty.my/news/malaysia-s...-up-call/132580

yes, way back when it was still under the Mammoth Empire group