15 Auction Condos For Sale in KL and Selangor Under RM500,000

This article will discuss 15 auction properties and provide valuable insights into the process including exploring different auction types and revealing hidden costs and fees.

What is auction property?

An auction property is a real estate asset sold through a public bidding process. When property owners default on their loans, the bank may put the property up for auction, ultimately leading to foreclosure. These properties include residential houses, commercial buildings, land, and luxury estates.

What distinguishes auction properties is that they are typically sold in an open and competitive environment, allowing buyers to acquire a property at a price below market value.

This creates an exciting prospect for both experienced investors and first-time buyers to explore a diverse range of properties with the potential for substantial savings. Whether searching for a new home or an investment opportunity, the auction market presents a dynamic and engaging opportunity to secure your desired property.

READ: Investing in auction properties: Tips & tricks from Dr. Bad

Types of property auctions in Malaysia

The property auctions in Malaysia are divided into two categories: Loan Agreement Cum Assignment (LACA) auctions and Non-Loan Agreement Cum Assignment (non-LACA) auctions. Through these auctions, buyers are able to acquire properties in a transparent and regulated manner. 

Type of auction	LACA	Non-LACA
Type of property	Properties without individual or strata titles (also referred to as master title properties)	Properties with individual or strata titles
Auctioneer	Banks or a licensed auctioneer	High Court and Land Office

Costs when buying auction properties

While purchasing auction properties may appear to be a great opportunity, especially when acquiring premium properties at significantly reduced prices, it is crucial to consider the potential additional fees and charges involved. This will help ensure that the auction property purchase aligns with your financial goals and remains a wise investment decision. 

This section will explore four possible costs and fees you should be aware of when buying auction properties.

1. Penalty for settlement period extension

A deposit is required during an auction, and the remaining balance must be paid within a specified timeframe. Extensions may incur penalties. The timeline for payment varies depending on the type of auction, as outlined below:

• LACA auction: Purchasers must deposit 5%, and the remaining balance is settled within 90 days of the auction.
• Non-LACA auction: A successful bid requires 10% of the reserve price, and the remaining balance is settled within 120 days.

It is crucial to be prepared to immediately top up the difference between the required deposit percentage and the deposit percentage of the final selling price after the auction.

2. Deposit forfeiture

It is important to note that failure to settle the balance within the specified settlement period of 90 or 120 days may result in the loss of your deposit. Thus, it is important to ensure that you have sufficient cash and/ or overdraft facilities before purchasing an auction property.

3. Additional stamp duty and legal fees

When dealing with LACA properties, the title transfer can be done either through a direct transfer with developer consent or a double transfer. However, obtaining developer consent for a direct transfer often requires settling all outstanding service charges. If the developer does not consent, opting for a double transfer can result in additional stamp duty, legal fees, and potential delays.

4. Outstanding utility fees or other charges

In addition to the utilities bill and maintenance fees, you may also have to settle sinking funds, quit rent fees, assessment taxes, insurance premiums, and late charges.

Before the auction, it is crucial to verify any outstanding bills with the respective utility offices, such as Tenaga Nasional Berhad, Indah Water, and the property management office.

Pros and cons of buying auction properties 

Contemplating the purchase of an auction property raises the question of its advantages and disadvantages. It is essential to weigh the benefits and potential drawbacks before deciding. 

Auction properties pros:

1. Grab a bargain

One of the most enticing aspects of buying an auction property is the opportunity to secure a property at a lower price compared to market rates. By participating in the bidding process, you have the potential to purchase a larger home or one in your desired location that would typically exceed your budget. The savings achieved through auctions can be substantial, allowing you to make a significant financial gain.

2. Pay fewer commissions

When engaging an agent or representative to bid on your behalf at an auction, you typically pay lower commission rates compared to traditional property transactions. This translates into additional cost savings, enabling you to retain more funds. Alternatively, you can bid on properties yourself, granting you even greater control over the purchasing process and potential cost savings.

Discover New Property Launches here!

Auction properties cons:

1. Rigorous auction process 

Participating in an auction requires thorough preparation and understanding of the process. Registering for the auction and discussing your intentions with your bank are necessary. Additionally, you must be ready to provide a bank draft worth 10% of the property’s reserve price, which will be publicly disclosed by the auction house.

2. Potential complications 

Buying an auction property can introduce unexpected complications like:

• Caveat: A caveat is a legal notification that indicates a legal claim of interest on a property during a property transaction. Discovering that a third party has placed a caveat on the house can potentially cause delays in the sale process. This situation can prolong the transaction and even hinder your ability to secure a home loan. 
• Restricted financing options: Depending on the type of lease, your bank may limit the type of financing you can use.

Make sure to secure the proclamation of sale for the property, as it contains crucial information that can help you avoid potential complications.

CHECK OUT: Buying An Auction Property In Malaysia – What Are The Hidden Costs?

List of condominiums to auction in Klang Valley under RM500,000

1. i-SOHO @ i-City

Experience the perfect blend of comfort and convenience at i-SOHO @ i-City. Nestled between the bustling i-City Shah Alam, this property offers an exceptional living experience. With only two SoHo blocks, each soaring 43 storeys high, you can enjoy stunning views and a sense of exclusivity.

Connectivity is a breeze with the nearby Federal Highway, ensuring seamless travel to and from your new home. For those who rely on public transportation, the Padang Jawa KTM station is a mere 1.96km away, providing easy access to major destinations.

Embrace a lifestyle of convenience as Central i-City Mall and i-City Theme Park are within walking distance, offering a plethora of shopping, dining, and entertainment options.

• Property type: Serviced Residence
• Tenure: Freehold
• Developer: i-Berhad
• Built-up: 464 – 805 sq ft
• Completion year: 2016
• Reserve auction price: Starting from RM162,000 – RM352,000
• Rental price: RM1,075 – RM2,000

2. Pacific Place @ Ara Damansara

Pacific Place @ Ara Damansara is an ideal residence in the vibrant Ara Damansara. This property offers a convenient location with ample amenities to enhance your daily living experience.

Evolve Mall is within the property complex, just steps away from your doorstep, offering a wide range of shopping and entertainment options. Citta Mall is a 3-minute drive, providing additional retail therapy and dining options. For a larger shopping experience, Paradigm Mall is just a 15-minute drive from the property, ensuring access to various shops, restaurants, and entertainment.

With its impressive architectural design, Pacific Place comprises six blocks of 15-storey buildings and a 3-storey shop-lot area for your convenience. Each block offers 200 units, featuring three different layouts to cater to your needs. These include studios, standard units with 1-3 bedrooms, and dual-key units.

• Property type: Serviced Residence
• Tenure: Leasehold
• Developer: MNH Global Assets Management
• Built-up: 717 – 1,325 sq ft
• Completion year: 2013
• Reserve auction price: Starting from RM340,123 – RM419,904
• Rental price: RM700 – RM2,200

Pacific Place @ Ara Damansara transaction prices

3. Residensi Laguna (Sunway Belvedere)

Located in the renowned neighbourhood of Bandar Sunway, Residensi Laguna is a leasehold condominium. This property offers a convenient location with easy access to many amenities. Indulge in a shopper’s paradise as the iconic Sunway Pyramid Mall is just a quick 12-minute drive away, providing a vast array of retail, dining, and entertainment options.

With its strategic connectivity, Residensi Laguna ensures seamless travel with direct access to six major highways. Whether you are heading to work, exploring nearby cities, or embarking on weekend getaways, the New Pantai Expressway (NPE), Shah Alam Expressway (KESAS), Federal Highway, New Klang Valley Expressway (NKVE), ELITE Highway, and Damansara-Puchong Highway (LDP) will effortlessly connect you to your desired destinations.

Discover the perfect balance of comfort and convenience within the 22-story C-shaped tower block of Residensi Laguna. Offering 500 residential units and 16 retail shops, this property is designed to cater to your modern lifestyle needs.

• Property type: Condominium
• Tenure: Leasehold
• Developer: IJM Land Berhad
• Built-up: 931 – 1,096 sq ft
• Completion year: 2007
• Reserve auction price: Starting from RM306,000
• Rental price: RM1,300 – RM2,20

Residensi Laguna (Sunway Belvedere) transaction prices

4. Tropika Paradise Condominium

Located in Subang Jaya, Selangor, Tropika Paradise Condominium is a freehold condominium that offers a unique living experience. Comprising three blocks with 12 storeys each, this development provides buyers with a range of unit designs. The units in Tropika Paradise Condominium have a generous built-up area ensuring ample space for comfortable living.

Moreover, residents can enjoy a refreshing environment in the nursery. A lounge and sauna are also available for residents, enhancing the overall appeal and providing relaxation and recreation opportunities.

For convenient transportation, the BRT Sunway Lagoon, BRT SunMed, BRT Sun U-Monash, and BRT South Quay are easily accessible, enabling residents to travel to and from the location effortlessly, even without their own vehicles.

• Property type: Condominium
• Tenure: Freehold
• Developer: Sime Darby Property Berhad
• Built-up: 1,200 – 1,400 sq ft
• Completion year: 2021
• Reserve auction price: Starting from RM350,000 – RM408,240
• Rental price: RM1,600 – RM2,165

Tropika Paradise Condominium transaction prices

5. SkyLake Residence

SkyLake Residence is a high-rise property nestled in front of a picturesque lake. With its location in the heart of Puchong, SkyLake Residence offers residents a serene environment with breathtaking views of the Puchong skyline and the tranquil lake.

This property combines tranquillity with convenience, as it is conveniently located just 12km away from Bandar Puteri Puchong, and within a short drive to Sunway, Petaling Jaya, and Bukit Jalil, with KLIA reachable via the Damansara-Puchong Highway (LDP) and ELITE Highway. Featuring 746 units across two blocks of condos, SkyLake Residence presents a range of six layouts to suit various lifestyles.

It also offers many unique facilities, including a kindergarten, futsal, jogging track, yoga deck, dance studio, sauna, and Tai Chi deck.

• Property type: Serviced Residence
• Tenure: Leasehold
• Developer: LBS Bina Group Berhad
• Built-up: 554 – 1,063 sq ft
• Completion year: 2021
• Reserve auction price: Starting from RM262,500 – RM370,000
• Rental price: RM1,100 – RM2,180

6. Shaftsbury Putrajaya

Located in Putrajaya, Shaftsbury Putrajaya stands as an exceptional freehold serviced residence. Also known as Shaftsbury Avenue, it seamlessly combines retail outlets and serviced apartments, creating a vibrant and modern living experience. Completed in 2018, this development boasts 249 retail outlets on its lower levels, offering residents diverse shopping and dining options. Two blocks of residential buildings featuring 746 units rise above the retail spaces. 

With the convenience of being just a short walk across the bridge, residents can easily access Alamanda Shopping Centre. Additionally, the famous IOI City Mall is a mere 6km away. Shaftsbury Putrajaya also enjoys excellent connectivity, with major highways such as the Maju Expressway (MEX), South Klang Valley Expressway (SKVE), and North-South Expressway (NSE) in close proximity. Furthermore, Putrajaya Sentral is 7.7km away, ensuring seamless transportation options like MRT and ERL for residents.

• Property type: Serviced Residence
• Tenure: Freehold
• Developer: Ikhasas Group & Putrajaya Holdings
• Built-up: 686 – 1,451 sq ft
• Completion year: 2018
• Reserve auction price: Starting from RM405,000
• Rental price: RM1,700 – RM2,000

7. Mirage By The Lake

Nestled in the vibrant city of Cyberjaya, Selangor, Mirage By The Lake welcomes you to a world where nature, technology, and beauty intertwined seamlessly. This freehold condominium showcases the perfect harmony between modern design and the surrounding environment.

Featuring an extensive area of two blocks and five to ten stories, Mirage By The Lake has a capacity of 413 condominiums and 64 villas. The residents are treated to an array of amenities, including a sauna, steam rooms, squash court, tennis court, badminton court, table tennis court, salt-water pool, elevated catwalk, children’s pool, BBQ zone, multi-purpose hall, wetlands, meandering stream, and a Surau. 

Additionally, the proximity to Tamarind Square, DPulze Shopping Centre, IOI City Mall, and Alamanda Putrajaya, all within a 10-15 minute drive, ensures residents have convenient access to shopping, dining, and entertainment options.

• Property type: Condominium
• Tenure: Freehold
• Developer: OSK Properties
• Built-up: 1,060 – 1,496 sq ft
• Completion year: 2014
• Reserve auction price: Starting from RM284,000 – RM437,000
• Rental price: RM1,600 – RM3,500

Mirage By The Lake transaction prices

8. Cerrado Residence @ Southville City

Discover the charm of Cerrado @ Southville City, a low-density, freehold serviced residence in Bangi’s heart. This unique property offers an added touch of luxury with 10 exclusive poolside cabanas, providing a perfect spot for relaxation and leisure. 

With its strategic location, residents enjoy easy accessibility to major highways such as Maju Expressway (MEX), Kajang Dispersal Link Expressway (SILK), South Klang Valley Expressway (SKVE), North-South Express Central Link (ELITE), and Kajang-Seremban Expressway (LEKAS), ensuring convenient connectivity to various destinations. For shopping and entertainment, Alamanda Shopping Mall and IOI City Mall are just a stone’s throw away. 

The property features four towers, each soaring 35 to 36 storeys high. With only 14 units per level, you can enjoy a low-density living experience.

• Property type: Serviced Residence
• Tenure: Freehold
• Developer: Mah Sing Group Berhad
• Built-up: 656 – 2,029 sq ft
• Completion year: 2020
• Reserve auction price: Starting from RM216,000 – RM252,000
• Rental price: RM1,150 – RM2,100

9. 9Ine (Residensi Sembilan)

In the tranquil neighbourhood of Taman Kemacahaya, Cheras, 9Ine is a charming residence 45 minutes from the bustling city centre. This development comprises three impressive 23-storey towers, offering 256 units. 

Prepare to be captivated by the unique feature of 9Ine. It boasts the picturesque Sungai Putih Hill Forest Reserve, providing a stunning backdrop and a soothing natural environment. Experience a fulfilling lifestyle with various exciting facilities, including a yoga deck, gymnasium, playground, jogging track, swimming pool, and pool lounge. 

For your shopping and entertainment needs, renowned malls such as EkoCheras Mall, Cheras Leisure Mall, and BMC Mall are conveniently located within a 15-minute drive.

• Property type: Condominium
• Tenure: Freehold
• Developer: Adenland (Cheras) Sdn Bhd
• Built-up: 1,142 – 1,520 sq ft
• Completion year: 2017
• Reserve auction price: Starting from RM408,000 – RM637,000
• Rental price: RM1,300 – RM2,400

9Ine (Residensi Sembilan) transaction prices

10. Changkat View

Located in Kuala Lumpur’s prestigious area of Dutamas, Segambut, Changkat View is a freehold condominium development. 

Embrace a life of luxury and convenience as you enter the four identical 26-storey high towers that house a total of 796 units of condominiums. With only 199 units in each tower and 8 units per floor, you can enjoy the perfect balance of exclusivity and privacy. 

Surround yourself with lush greenery while staying connected to the vibrant urban neighbourhoods of Kenny Hills, Mont Kiara, and Damansara Heights. Discover seamless connectivity with easy access to major highways such as the North-South Expressway (NSE) and SPRINT Expressway.

• Property type: Condominium
• Tenure: Freehold
• Developer: Changkat Kiara
• Built-up: 1,100 – 2,150 sq ft
• Completion year: 2009
• Reserve auction price: Starting from RM341,000
• Rental price: RM1,300 – RM2,200

Changkat View transaction prices

11. M Centura

In the vibrant neighbourhood of Sentul, Kuala Lumpur, you will find M Centura, a modern freehold serviced residence. 

Located along Jalan Sentul Pasar, M Centura offers a perfect blend of convenience and accessibility. It is just minutes from three major highways, including the Duta-Ulu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2), and Karak Highway. Public transportation options such as LRT Sentul, LRT Sentul Timur, MRT Sentul Barat, MRT Kampung Batu, KTM Kampung Batu, and KTM Sentul are all within a short drive from the property.

With two 47-storey blocks offering stunning views, experience the epitome of modern living. Residents can enjoy unique amenities such as an Olympic-length swimming pool, childcare area, dual floating gym, BBQ area, and co-working area.

• Property type: Serviced Residence
• Tenure: Freehold
• Developer: Mah Sing Group Berhad
• Built-up: 650 – 1,000 sq ft
• Completion year: 2021
• Reserve auction price: Starting from RM300,000 – RM450,000
• Rental price: RM1,200 – RM2,500

12. KL Traders Square

Experience the best urban living at KL Traders Square, a freehold serviced apartment in Setapak. Boasting a prime location, this property seamlessly connects to Jalan Genting Klang, providing residents unparalleled convenience and accessibility. With five blocks standing tall at 38 storeys each, KL Traders Square offers a wide range of unit choices to cater to diverse lifestyles and preferences. 

Featuring an Olympic-sized pool, a 25-metre boutique infinity pool, and a relaxing bubble pool, guests can enjoy an array of excellent amenities. As a fusion of residential and retail components, KL Traders Square offers a seamless blend of convenience and comfort.

In addition, you will have easy access to public transportation since LRT Taman Melati and LRT Gombak are both within 7km. There are also several dining and shopping options at Setapak Central Mall, just 4km away.

• Property type: Serviced Residence
• Tenure: Freehold
• Developer: SCP Group
• Built-up: 842 – 940 sq ft
• Completion year: 2019
• Reserve auction price: Starting from RM360,000 – RM450,000
• Rental price: RM1,400 – RM2,500

KL Traders Square transaction prices

13. SkyAwani 3 Residence

SkyAwani 3 Residence, a leasehold condominium in Setapak, invites you to experience the ambience of a contemporary apartment building. There are 1,905 units in this fascinating development, all thoughtfully designed with three bedrooms, two bathrooms, and a spacious built-up area of 800 sq ft.

Among the delightful amenities exclusively available to residents are a splash pool, a rejuvenating bubble jet jacuzzi, a scenic jogging path, a kids’ nursery, a secure perimeter fence, and round-the-clock security.

This property is just 1.3km from Duta-Ulu Kelang Expressway (DUKE), making it easy to get to other parts of the city. Setapak Central Mall and Wangsa Walk Mall, situated within a convenient 4km radius, offer an array of shopping, dining, and entertainment options. Additionally, the nearby LRT Sri Rampai station, a mere 3.7km away, provides easy access to public transportation.

• Property type: Condominium
• Tenure: Leasehold
• Developer: SkyWorld Development Bhd
• Built-up: 800 sq ft
• Completion year: 2021
• Reserve auction price: Starting RM238,000
• Rental price: RM1,200 – RM2,000

14. Villa Wangsamas

Located in Wangsa Maju, Villa Wangsamas is a freehold condominium that exudes charm and character. This residential development features nine 20-story towers and offers 1,317 units.

Embrace a tropical resort-style atmosphere and take advantage of the extensive lifestyle facilities. This includes a swimming pool, a gym, restaurants, a mini market, a playground, a scenic jogging track, and lush landscaping. 

With its strategic location, Villa Wangsamas offers easy access to major highways such as the Duta-Ulu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2), and Ampang-Kuala Lumpur Elevated Highway (AKLEH), ensuring seamless connectivity to the surrounding areas. Nearby shopping destinations include Wangsa Walk Mall, Setapak Central Mall, AEON Wangsa Maju, and Melawati Mall, all within 4km.

• Property type: Condominium
• Tenure: Freehold
• Developer: Setapak Heights Development
• Built-up: 1,256 – 2,750 sq ft
• Completion year: 2010
• Reserve auction price: Starting from RM350,000 – RM405,000
• Rental price: RM1,600 – RM2,300

Villa Wangsamas transaction prices

15. Sri Angsana Hilir

In the heart of Ampang, Selangor, you will find Sri Angsana Hilir, a vibrant leasehold condominium. The nearby LRT Ampang, LRT Cahaya, LRT Cempaka, and LRT Pandan Indah stations offer seamless connectivity with public transportation. 

With an array of facilities designed to meet the needs of active people, Sri Angsana Hilir provides a world of leisure and recreation. Enjoy a friendly match at the squash or tennis court, take a refreshing dip in the swimming pool, host a delightful BBQ gathering with loved ones, or stay fit and active in the well-equipped gymnasium.

• Property type: Condominium
• Tenure: Leasehold
• Developer: Kabra Holding
• Built-up: 1,042 – 1,266 sq ft
• Completion year: 1998
• Reserve auction price: Starting from RM186,000 – RM256,000
• Rental price: RM1,300 – RM1,500

Sri Angsana Hilir transaction prices

Source: iProperty Transaction Data 

Should you buy an auction property? 

In conclusion, buying auction properties can be an exciting opportunity to acquire premium properties at attractive prices. However, it is crucial to approach the process cautiously and be aware of the potential risks and hidden costs involved. 

By conducting thorough research, seeking professional advice, and carefully considering the fees and charges associated with auction properties, buyers can make informed decisions and ensure that their purchase makes financial sense. 

While auction properties can offer great value and investment potential, weighing the pros and cons and assessing one’s financial capabilities before diving into the auction market is essential. 

With the proper knowledge and approach, buying auction properties can be a rewarding venture that opens doors to new possibilities in the real estate market.