City&Country: The Edge/CB Richard Ellis Klang Valley Housing Property Monitor (1Q2011)
“What is really moving are the smaller serviced apartments and condos of between RM450 and RM600 psf, which are selling very well. The market has evolved, with more activity in and excitement over smaller units in Petaling Jaya and the Kuala Lumpur suburbs than the KLCC area.
He highlights some potential hot spots for investors — Bukit Ceylon near KLCC; Setapak; Bandar Menjalara in Kepong; and Kota Damansara.
The 1-storey terraced houses sampled in the monitor show y-o-y price growth across the board, with those in Taman Tun Dr Ismail’s (TTDI) Jalan Burhanuddin Helmi showing a 33.33% rise. The average price for this type of house in the area is RM600,000 now compared with RM450,000 a year ago
The next highest y-o-y price rise of 28% for 1-storey terraced homes was recorded in Bandar Sri Damansara’s SD2, SD3 and SD4 areas. The average price in 1Q was RM320,000 compared with RM250,000 last year.
For 2-storey terraced houses, prices in Bandar Sri Damansara’s SD10 area surged 41.03% from a year ago — the highest growth recorded among the sampled properties.
The values of 2-storey terraced houses in Bandar Utama’s BU12 also recorded a steep rise of 33.93% from a year ago. The average price of the property type in this area was RM750,000 compared with RM560,000 the previous year.
Several areas maintained their values in 1Q, such as TTDI’s Jalan Athinahapan and Jalan Datuk Sulaiman; Bandar Utama’s BU1; Bangsar Baru; USJ4 and 6; and Puchong Jaya. Bandar Sri Damansara’s SD7 showed 10% average growth to RM550,000 from RM500,000 the previous quarter.
The high-rises that did not show any growth are TTDI’s The Residence and The Plaza; Mont’Kiara’s Lanai Kiara; USJ’s Goodyear Court; Bangsar’s Cascadium; Sri Hartamas’ Plaza Damas (Mayfair); and KLCC’s Stonor Park.